Their ruthless tactics are starting to pay off for -minded customers. Capital One is the type of company that offers credit cards to people with poor credit history. People who are happy to qualify for a credit card are willing to pay high interest rates (upwards of 20% APY) and yearly fees (upwards of $50) for the priviledge.
Now people who are interested in saving money can benefit from this. Capital One is offering a savings account with an annual percentage yield of 2.25%. That’s the highest I’ve noticed lately. They don’t seem to be offering any special promotions or bonuses, but I signed up for an account and transferred some money over.
It looks like is getting some tough competition. They’re currently offering only a 1.8% APY on their savings account.
Scott Adams, creator of the comic strip Dilbert and holder of an MBA from Berkeley, wrote a “book” on personal finance, and is summarized today on The Motley Fool. Adams boils personal finance down to nine points, which you will see if you read the article.
Joan Ferreria of the Bronx, 19 and unemployed, has traded his Web design skills for a computer keyboard, as well as piano, photography and driving lessons. For giving Spanish lessons, he has banked two 30-day unlimited ride MetroCards. [New York Times article, username: flexoweb, password: flexo]
In a bad economy, some people turn to bartering for goods and services instead of paying cash. If you have a skill or items that someone else might find valuable, you can hook up with other people on sites like Barter Advantage (fee-based) or Craigslist (free).
Who can afford million dollar homes? Coldwell Banker polled their real estate salespeople to find out.
It turns out that buyers of million dollar homes most often pay in cash, or if they take financing, many put down a payment of at least 50% of the sale price. The two most common professions are corporate executives and entrepreneurs.
As you could probably guess, buyers with a seven-figure budget are just a little different from mainstream home buyers.