From the category archives:

Credit Cards

“18 Months Same as Cash!” … Really?

by Joe Plemon on January 25, 2012

in Credit Cards,Debt,Dollars and Sense

Run...Don't Walk...Away from these offers!

Is zero interest for 18 months REALLY zero interest?  If you can walk a tightrope while juggling flaming torches, then maybe.  But beware — many of these offers are fraught with conditions that will make your head spin.

Best Buy, for example, is currently offering 18 months zero interest on all purchases over $429.  However, the fine print describes the tightrope: [click to continue…]

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Are Your Credit Card Rewards Really Rewarding You?

by Joe Plemon on October 12, 2011

in Credit Cards,Dollars and Sense

When my friends tell me how much money their credit card companies pay them each month, I ask myself, “What is the catch?” After all, credit card companies are not in the business of losing money. Is it possible…really possible…to make credit card companies pay? Even though I don’t own any credit cards, I am hoping that my friends are right. Why? Because, knowing how punitive these credit card companies are to those who stumble only slightly, I would like to see a bit of justice. [click to continue…]

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Is Dave Ramsey Wrong? With No Loans and No Credit Cards, I Still Have a Credit Score.

August 3, 2011

When Janice and I became gazelle intense about getting out of debt, we did so hook, line and sinker. Once we paid our credit cards off, we either quit using them or cancelled them. Over the years, I have sporadically checked my credit report, but had never become curious enough to obtain my official credit [...]

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Credit Card Airfare Rewards: The Good, Bad & Ugly

July 27, 2011

Is  it just me or does anyone else think there are way too many TV commercials lately touting credit cards? You’ve also probably noticed that most of them are peddling air travel rewards and at first glance, their programs may seem extraordinary. However truth be told, some of these commercials aren’t exactly forthright in explaining [...]

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The Grass Definitely Isn’t Greener with NPSL Credit Cards and Charge Cards

May 2, 2011

You are undoubtedly familiar with the old adage that “the grass is always greener on the other side of the fence” , but you probably don’t know why this cliche—which speaks to the natural inclination people have to value the unknown over the known—is relevant to credit and charge card use. Interestingly, many of the [...]

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Do We Spend More With Credit Cards? A Study Proves … Maybe

July 12, 2010

Do people really spend more with credit cards than with cash? This topic has been beaten until blue and there seems to be no documented study which proves one way or another. Yes, many of us have heard of the Dunn and Bradstreet study (oft quoted by Dave Ramsey) that indicates people spend 12-18% more [...]

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How Minimum Credit Card Payments Will Keep You in Debt Forever

May 12, 2010

Did you know that making your minimum credit card payment every month will take you as much as four times longer to get rid of debt than making a fixed payment?  I recently ran across a nifty calculator at Bankrate.com that I recommend looking at.  When  I plugged in $5,000 debt at 12%  interest with [...]

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Expect Rate Hikes Even After the New Credit Card Act Takes Effect

February 15, 2010

photo credit: TheTruthAbout… The major changes required by the Credit Card Act of 2009 will kick in on February 22. But just because Congress has tried to stifle the less than stellar side of the credit card industry, don’t think for a moment that banks have been sitting on their heels. Here’s how the new [...]

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Credit Card Alert: Read the Fine Print

January 6, 2010

photo credit: xJasonRogersx Credit card legislation and new Federal Reserve rules which passed last year are consumer friendly, but don’t expect credit card companies to make things easy for their customers. Some of the changes have already gone into effect, but the majority of the them will take effect on February 22, with more scheduled [...]

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Credit Cards: The New Rules

September 15, 2009

This is a guest post by Jeff Rose. Jeff Rose is an Illinois Certified Financial Planner™ and co-founder of Alliance Investment Planning Group. He is also the author of Good Financial Cents, a financial planning and investment blog and he is currently working on his first book entitled Soldier of Finance. You can see more [...]

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Credit Card Marketing Banned on Illinois College Campuses

August 17, 2009

photo credit: Andres Rueda Also banned: Selling of students’ personal information I applaud the Illinois lawmakers and Governor Pat Quinn for passing legislation which bans the gimmicky marketing of credit cards to college students. The bill, which won’t take effect until January, could impose fines on colleges and universities if they allow credit card companies [...]

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10 Tips on How to Graduate College Debt Free

July 15, 2009

Prospective college students: this is for you. The choices you make on funding your college will impact your life for years to come. Sure, you can take the easy path and borrow the money. But I challenge you to be different: make sacrifices and avoid the a debt problem. No College Savings? You can still [...]

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