Many of you know that if you’re late on your credit card bill payments they can raise your rates as high as 29.99%, but that’s just for scalawags, right? Nope. JLP at All Financial Matter’s brother was late twice on his Bank of America bill, once by three days, and once by one day. That was enough to make Bank of America say, OMG, this guy is way too risky and we need to penalize him and send his rates as high as they can legally go!
personal finance
Quicken Beam Checks Your Balances On Your Cellphone
By 9.9.08
Sick of overdrafts? Don’t feel like juggling your bank balance in your head? Quickenbeam from Intuit is a new free service, in beta, that lets you check your account balances, no matter what bank you have, from your cellphone.
Beware Balance Billing
By 9.8.08
When insurers don’t pay the full amount of the bill, health-care providers are going after patients to make up the difference. It’s known as “balance billing,” and it’s often illegal, BusinessWeek reports. Under state and federal laws, doctors and hospitals generally need to be dealing with the insurers, instead of pressuring vulnerable patients. Have you had any success with fighting balance billing? Leave your story in the comments.
Mailing Addresses For TransUnion, Experian, Equifax
By 9.4.08
Having trouble finding the mailing address for any of the three major credit bureaus, TransUnion, Experian, Equifax? Here they are:
Mythbusters Host Retracts RFID Censorship Comments
By 9.4.08
Mythbusters host Adam Savage is retracting comments he made at a hackers conference where he said an episode exposing security flaws in credit card RFID technology was squelched by credit card company lawyers. In a new statement Adam says, ” If I went into the detail of exactly why this story didn’t get filmed, it’s so bizarre and convoluted that no one would believe me, but suffice to say…the decision not to continue on with the RFID story was made by our production company, Beyond Productions, and had nothing to do with Discovery, or their ad sales department.”
BoA Reopens Credit Card Closed 10 Years Ago
By 9.4.08
At Bank of America, your accounts are Buddhist. As in, undergoing “eternal return,” where accounts that have been closed and passed on will reemerge, rejuvenated, reopened, even if you closed them long, long, ago. Reader Chip writes:
Paying Cash-Only, Family Spends $1,800 Less
By 9.4.08
By switching to only paying for everything in cash, as we wrote about here, one family ended up spending 24% less in a month, $1800 less. To get there they cut up 8 of their 9 credit cards. The last one they froze in a glass of water in case of emergency, another technique we recommended before. “I don’t have enough money in my purse to go buy this new dress or this new shirt that I want, so you don’t even step foot in the store, because you don’t have the money…You don’t make all those extra purchases that you really don’t need.” Marissa Farhat told Good Morning America.
Credit Card Junk Mail Decreases By 260 Million
By 9.2.08
The number of credit card offers clogging mailboxes took a nosedive in this year’s second quarter, 1.54 billion vs 1.8 billion for the same period last year. An aftershock of the credit crunch and sub-prime meltdown, the decrease reflects a shift in the banking industries thinking, trending towards higher standards from its borrowers than merely the fact that they are carbon-based lifeforms. A good way to take that number even lower is to register with OptOutPrescreen.com and stop the tide of credit card offers almost entirely.
CreditKarma.com Makes Free Credit Score More Like FICO's
By 9.2.08
The CreditKarma.com site we told you about in our roundup of “5 No BS Ways To Get A Credit Score For Free” has changed its calibration system so the free, advertising-supported, credit score it gives you is now on the 300-850 range, just like your FICO score. It’s still not your FICO score, but it does make the approximation, based on TransUnion data, more relevant. If you’re do some major money moves, like getting a mortgage, you would still want to pay for the FICO score for total accuracy, but if you just want a general sense of how you’re doing, CreditKarma.com is a great way to do it for free.
How Much Would You Spend to Save Your Pet?
By 8.29.08
Last week the Wall Street Journal asked how far people would go to keep their dog (or really any pet for that matter) alive. As an example of the two ends of the spectrum, they suggested the following, starting with the “not much” line of thinking:
Personal Finance Roundup
By 8.28.08
Using Your Health Savings Account as a “Super Roth” Investment Vehicle [Free Money Finance] “If you can afford to delay using your HSA funds and instead leave them invested, your payoff in retirement will be substantial.”
Earn 15.55% Return On Snow Wolves
By 8.28.08
The central bank of Iceland has increased overnight borrowing rates to 15.5%, meaning you can get some damn high yields investing in their currency. Those numbers piqued my interest.
How To Get ATT Naked DSL (Redux)
By 8.28.08
When reader Nick tried to sign up for ATT “naked DSL” or “dry loop” service (getting DSL without having paying for a landline), a curious thing happened.
WaMu's Inability To Mail Letters Costs Man $3,400
By 8.27.08
Wamu’s fraud department has a problem sending letters. Just like another reader, Kristin, we posted about, Rob is having trouble disputing fraudulent charges on his account. He followed their every instruction, except to respond to the second letter WaMu sent out. How could Rob do such a foolish thing? Because it never showed up in his mailbox, a point, WaMu seems to think, is owing to, not their incompetence, but Rob’s general lassitude and weakness of character. Or something like that. Here’s Rob’s story…
Save Money By Starting A Fuel Oil Coop
By 8.27.08
To save money on heating costs this winter, consider joining or starting a fuel oil co-op. What’s that?
Wells Fargo Forces You To Pay Off Loans Costliest Way Possible
By 8.26.08
According to reader Caleb, Wells Fargo seems to have recently crippled their loan repayment system in a way that makes it impossible for borrowers to pay off loans the way they want to. That is, unless you prefer to let your highest-interest loans ride for as long as possible while you pay off your lower-interest loans…
PayPal Refunds $50 Defraud, Sics Collections On You
By 8.26.08
Last year, Gpotato.com fraudulently took $50 from reader Adam’s Paypal account. He disputed the charge, Paypal agreed it was fraud and returned the funds, and Adam closed the account. Now all of a sudden Paypal’s internal collections agency is calling up Adam and making rude and insistent demands that he pay this $50 immediately.
