Greg wrote to us and said that he’s in the market for a new credit card: “I canceled my Chase card because they raised my interest rate to 29.99% + prime. What credit card companies should I be looking at for a replacement card? What are their perks, their drawbacks?”
I spoke with Samir Kothari, the co-founder and vice president of products at BillShrink.com, to see what he thinks about the CARD Act and how it will change the credit card marketplace.
personal finance
Let's Ask BillShrink About Credit Cards Under The CARD Act
By 2.22.10
10 Ways To Provoke An IRS Audit
By 2.22.10
Life can get a little humdrum sometimes, so why not shake things up with an IRS audit? You can’t just check off a box and get an audit, you’ve got to earn it. You’ve got to provoke them. Here’s 10 ways to get some IRS agents knocking on your door: [More]
Stay On Budget By Maintaining One Indulgence
By 2.18.10
Adam Baker at Get Rich Slowly suggests you’ll be able to better stick to a budget if you pick one non-essential hobby or interest instead of cutting them all out. The key to figuring out whether or not it’s something worth “wasting” money on is to identify any hidden benefits, and then to make sure there aren’t hidden drawbacks. [More]
Never Buy Generic Pasta Sauce
By 2.18.10
Store brand is the new black. Nielesen says that buying of generic brands has increased 8% since 2007. Name brand purchases have dropped ~4%. But here’s a question: what’s what’s never okay to get as a store brand? For me, it’s tomato sauce. It’s like pouring ketchup on your spaghetti. [Boston Globe via NYT Bucks Blog] (Thanks to James!) [More]
What Are You Going To Do With Your Tax Refund?
By 2.17.10
What are you going to do with the money once you get your tax refund check? Take our poll and let us know! [More]
Personal Finance Roundup
By 2.17.10
Questions to Ask After ‘I Will’ but Before ‘I Do’ [Wall Street Journal] “Some time between ‘Yes, I will marry you,’ and ‘I do,’ you and your partner need to have The Money Talk — the key questions all couples should ask of one another.”
Money matters in a marriage [The Washington Post] “Having a sound financial marriage is as romantic as roses and chocolate.”
5 things that kill home insurance [MSN Money] “Here are conditions that could make it hard to buy coverage for your home.”
How to Get the Best Rates on Your Savings — Safely [Get Rich Slowly] “With high-yield savings rates getting lower and lower and the stock market not doing so well either, what would you recommend?”
The New Credit-Card Rules: What to Expect [Smart Money] “[Here] are the key changes that the new law puts forth, along with some notable exceptions that could still allow consumers to get in trouble with their credit cards.”
How Do I Build Credit When No One Will Give Me A Credit Card?
By 2.17.10
Clarice is financially recovering from a divorce. Her husband handled all the finances, and it turns out that he had a card in her name but never paid off a $300 outstanding balance on it. Besides this card, she’s never had a credit card. Now she wants one and no one will give it to her, because of the outstanding derogatory item and lack of credit history. She’s tried applying for credit cards online, with her bank and with stores. She could get a co-sign from her father but “doesn’t want to wrap him up in all of this.” What can Clarice do? Well, the last thing she can try is to apply for a secured credit card. [More]
24 Ways To Make Some Extra Money
By 2.15.10
If you’re between jobs, underemployed, or just have a lot of extra time on your hands now that you’ve give up expensive hobbies like smoking or shopping, here’s a list of 24 ways you can you earn some extra money. They’re not full time jobs, or sometimes even part-time jobs, but they’re a good starting point if you need some inspiration on how to bring in a little extra cash. [More]
Get Up To Speed On What The CARD Act Will Do To Credit Cards
By 2.11.10
In just a little over a week, the CARD Act will go into effect, and a new set of rules will apply to credit card issuers. Here’s a great summary of what will change and what won’t, so you’ll know what to expect. For instance, did you know that cards issued to business entities rather than individuals are exempt? [More]
Break Up With Your Bad Big Bank This Valentine's Day
By 2.11.10
You know what, it’s just not working out. I’m sorry, giant bank, but it’s time for both of us to move on. This Valentine’s Day, it’s time break up with your big bank, and this website will help snip the ties that bind. [More]
How To Deal With A Bad New Boss
By 2.10.10
BN’s mom was doing great at work until a reorg gave her a new boss between her and her old boss. While she did stellar under the old arrangement, the new boss is constantly rude and belittling via email, and the old boss has backed up the new boss to choose whatever management style they like, even after a failed HR mediation. What should BN’s mom do? Her story, inside: [More]
Personal Finance Roundup
By 2.10.10
Index Funds, Dowdy to Some, Get a Notable Endorsement [NY Times] “The wealthiest would have fine returns without the volatility and high fees if they simply used indexes to diversify their money across asset classes.”
It’s property tax assessment time. Here’s what homeowners need to know. [The Washington Post] “Even if a homeowner’s property tax assessment declines, the tax bill may not.”
Questions to Ask Before Buying Disability Insurance [Bucks Blog] “Starting the list with a few dozen questions [you should answer before buying disability insurance.”
What’s the best use of the energy tax credit? [Smart Spending] “For most homeowners, insulation gives you the best bang for your buck, but you might want to start with an energy audit.”
Which Tax Form to Use [Kiplinger] “Use the simplest form to meet your needs and avoid errors.”
Why People Stop Using Credit Cards
By 2.9.10
In yesterday’s Money section, USA Today talked to some consumers who refuse to carry credit cards, and looked at the hidden costs. One 24-year-old says they make her uncomfortable; a guy working at a gas station to pay for college says he doesn’t want to get accosted by endless junk mailings once his name enters the pool of potential customers. Then there’s the bankruptcy lawyer who canceled his cards on principle 8 years ago, after seeing how lenders behaved when their customers suffered financial setbacks: [More]
Bank of America Screws Even Ex-Employees Of 21 Years On Mortgages
By 2.8.10
How many different ways can you screw a man? Vince couldn’t make his Bank of America mortgage, because they fired him after 21 years of service in the due diligence department. Even after he did a short sale 5 months ago, Bank of America still hasn’t cleared it off their books. Now the illegal debt collection calls start. Is new CEO Brian Moynihan powerless to stop his own company from shaking down its own employees? Let’s find out! [More]
Bundle Lets You Spy On What Your Neighbors Buy
By 2.8.10
Why should banks have all the fun monitoring consumers’ purchases? Bundle is a nifty service that lets you drill down and see what people are buying in your hood. [More]
Will A Human At BofA Finally Please Modify My $160,000 Underwater Mortgage
By 2.5.10
Jim and Susan’s mortgage is underwater by $160,000. They want to live up to their obligations, they want to keep their home, but they can’t do it with a $370,000 mortgage on a house that’s only worth $210,000. An attorney told them to send some “jingle mail,” just pop the house keys in an envelope, mail it to the bank, and move away. What they really want is a modification so they can stay in their house, but Bank of America has been jerking them around and they don’t have faith that this last hurdle will actually get them a mod. Isn’t there a decision-making human at BofA that can finalize this deal for them? [More]
Nine Things That Are Overpriced
By 2.4.10
CNN Money has put together a slideshow (ugh) of nine of “America’s biggest rip-offs,” and I think we’ve covered all of them at one point or another on Consumerist. [More]
Personal Finance Roundup
By 2.3.10
10 Most Overlooked Tax Deductions [WalletPop] “Make sure you don’t miss out on these 10 commonly overlooked tax deductions.”
Smart Strategies to Pick Mutual Funds [Kiplinger] “Using past performance alone often leads to a weak portfolio. Here are better ways to choose winners.”
5 ways to save on your Super Bowl bash [Smart Spending] “No matter who’s on your guest list, you can score a winner on a tight budget.”
Good financial advice on a budget [CNN Money] “[Here] you’ll find some better ways to get the help you need, no matter what your resources.”
6 False Assumptions About Debt-Free Living [Wise Bread] “Here are six false assumptions about debt free living.”
