This week Dynamics is showing off a new credit card that can rewrite its own magnetic strip on the fly. So you get a card that you have to punch in a code before it can be swiped or before you can read the credit card numbers. After a few minutes, the information erases and it returns to being an inert piece of plastic. Or, for the convenience factor, a card can have multiple credit cards on it. Just push the button of the card you want to use. The future is here and its in your wallet. [More]
money
China To Exceed US Credit Card Use By 2020
By 9.17.10
We don’t need to worry about China getting ahead, Mastercard said today that China is set to surpass the US by 2020 in America’s favorite pastime: using credit cards. It will only be a matter of time after that they implode on a consumer credit bubble, muahaha, exactly as we planned. See, you’re not the only ones that can export poison! [More]
Chase Just Goes Ahead And Adds Overdraft Protection To Your Account
By 9.16.10
Lori called up Chase to tell them that she was traveling internationally in the next few weeks. She wanted them to note her account so there wouldn’t be any blocks when charges from far-away countries started appearing. Then the fast-talking rep just sort of added overdraft protection to Lori’s account, just casually worked it in there, like she was doing her a courtesy. [More]
Debit Card Skimmer Found On Train Ticket Dispenser
By 9.15.10
Be careful, travelers, skimmers aren’t just for ATMs. Here’s one a Dutch guy found on a local train ticket machine. This is even a little bit more insidious than an ATM skimmer because busy passengers are even less likely to hide their PIN or notice a skimming device before rushing to their next train. The site is in Dutch but just scroll through the labeled pictures. With phrases like “betterijen uit mobiele telefoon” it’s pretty easy to figure out what he’s talking about. [More]
Personal Finance Roundup
By 9.15.10
The Active versus Passive Decision [Free Money Finance] “If you’ve ever wondered why passive investing beats active investing, this article is for you.”
10 Fees You Shouldn’t Be Paying [Kiplinger] “Awareness and planning will help you avoid these unnecessary charges.”
Best New Car Deals – and 7 Tips to Drive a Hard Bargain [Money Talks News] “In short, dealers aren’t doing well, so deals abound.”
20 clues you need a money makeover [Smart Spending] “Among the clues: Are you afraid to open your credit card bill or look at your receipts?'”
Get energy tax breaks while you can [MSN Money] “You could buy energy-efficient products and get 30% of your cash back, but the deals may not last.”
ID Theft Victim Receives Ceaseless Cavalcade Of Stolen Packages
By 9.14.10
This lady’s address was used by credit card thieves who were scoping out different merchants’ fraud triggering levels. Which meant that she was receiving packages for and calls about a portable night light, Vietnamese movies, and a $2,500 Gibson. Every day for two months she got something new, and no one could stop it. [More]
Global Regulators Back New Bank Rules To Avert Future Meltdowns
By 9.13.10
Banks must triple the amount of cash they keep on reserve under a new set of guidelines backed by a global group of regulators this Sunday. With a more generous than expected deadline for the rules to take effect, financial stocks perked up on the news. [More]
Turn Store Financing Offers Into Interest-Earning Free Loans
By 9.9.10
Store financing offers like 0% down, pay nothing for 6 months, etc, can be a way to lure those who really shouldn’t be buying stuff into purchasing, but if you actually have the cash in hand already, you can leverage them into the equivalent of an interest-earning free loan. [More]
Happiness Costs $75,000
By 9.9.10
It’s settled, money can buy happiness, and it tops out at $75,000. That’s the result of a new Princeton study which found that the way people evaluated their lives got steadily better as their annual income increased. A lower income makes things like divorce, bad health and being alone more emotionally painful. However, the way respondents rated the quality of their everyday experiences and feelings did not increase after passing the $75,000 mark. [More]
Bank Screws Man For $900, He Tells Others, Ultimately Costing Bank $100,000 In Lost Business
By 9.8.10
Revenge is a dish best served cold, and when it comes to the bank who jacked him for $900, Justin is a master chef. [More]
Personal Finance Roundup
By 9.8.10
7 strategies to avoid the college debt trap [The Washington Post] “Here’s my guide for parents about avoiding the student-debt trap.”
Acing Tricky Questions [Wall Street Journal] “The way you react to a question or work through an answer can actually score more points with the interviewer than the answer you give.”
Going to Be a Mommy? Know Your Rights [Wise Bread] “A look at the rights you do have under both federal and state law in the U.S.”
10 Things Plumbers Won’t Tell You [Smart Money] “#1. There’s an old plumber’s adage: ‘An ounce of prevention could cost me thousands.'”
19 things your millionaire neighbor won’t tell you [Smart Spending] “If you’re like him, you’ll accumulate your wealth gradually by diligently saving your money over multiple decades.”
Reduce Spending By Writing Goals On Your Credit Cards
By 9.7.10
Have trouble keeping yourself from swiping the plastic? One way to cut down on mindless transacting is to take a sharpie and scribble your money goals on your credit card. They will stare at you the next time you pull it out. [More]
American Express Says You're Over 30 Days Late When You're Only 7
By 9.7.10
If you pay your American Express bill 7 days after the due date, the credit card company says you’re over 30 days past due. Every other issuer only says you’re 7 days late. What gives? [More]
Business Credit Cards Not Protected By CARD Act
By 9.3.10
Sorry, small businesses, the much ballyhooed protections of the CARD Act do not cover your credit cards. Only consumer credit cards get safeguarded against the most punitive of the old interest rate and fee policies. No wonder credit card solicitations to small business owners have increased 256%, vs 29% for consumer credit cards – they’re more profitable now. [More]
Simplify Your Life
By 9.2.10
For a guide to simplifying your life, this 7-step, multi-bulleted guide looks a little complex. So pick one tip to get inspired by, like getting some unnecessary possessions out of the house. Feeling overwhelmed is a catalyst for emotional spending and other unwise activities, and the little things building up can be little seeds of unraveling. Sometimes the best way to take care of frayed ends is to snip them. [More]
Student Loans, Gateway Drug To Debt Slavery
By 9.2.10
One of the most important lessons students learn in college is how to get into debt and stay there. It’s crucial to the success of the Republic. An indebted population is easier to control; needing to pay off crushing debt – a debt that if defaulted on has been stripped of many normal consumer protections and rights – graduates more willingly shuttle into cubicles, becoming the square pegs demanded by the square holes. After a few futile years of floundering idealism, their souls have been successfully jackbooted into powder and they’re ready to keep the thumb on the next generation of would-be drones so as to protect their empire of matchsticks. But how did we get here? This chunky infographic examines the origins and (d)evolution of the student loan leviathan. [More]
BofA Pays To Fedex You Multiple Loan Mod Opps You Don't Care About
By 9.1.10
BofA has been Fedexing Eli a loan mod opportunity once every two months for the past eight months. He has no intention of doing a refi, he’s never been late on a payment and likes his 5/1 ARM and low interest late. Wonder how many other homeowners is BofA frittering away their bailout bucks on by FedExing junk mail. Meanwhile, the people who actually want loan mods are stuck in purgatory. [More]
You're More Likely To Go Bankrupt From Winning A Lottery Than To Win One
By 9.1.10
The tiny chances of winning a lottery don’t stop people from playing. And even if you do win, there’s a chance you’ll only get 50% of the advertised winnings, after taxes. The house always wins. This big ol infographic breaks down the numbers for you: [More]
