As featured in The Wall Street Journal, Money Magazine, and more!

May 2008

Gas Stations’ Profits Hurting: Should Congress Intervene?

by Flexo

A recent article on CNN Money described the woes of independent gas station owners. The increasing cost of a gallon of gasoline results in less profit thanks to the processing fees credit card companies charge the merchants. I can appreciate that doing business in this type of environment is tough. With gas prices soaring to ... Continue reading this article…

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Chrysler’s $2.99 Gas Guarantee: A Bad Deal

by Flexo

Lately I’ve noticed commercials for a special car buying incentive offered by Chrysler: a gas credit card that guarantees that you will pay no more than $2.99 for a gallon of gas for three years. The offer, good between now and June 2 on most Chrysler, Jeep and Dodge vehicles preys on our fear and ... Continue reading this article…

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Sallie Mae Reporting Incorrectly to Equifax, Dropping FICO Scores

by Flexo

If you have a loan serviced by Sallie Mae, there is a good chance that your FICO credit score dropped significantly recently. Consumers have identified an error in Sallie Mae’s reporting. Accounts in good standing have been flagged and notated with the wording, “Arrangements made with credit grantor to make partial payments.” Sallie Mae is ... Continue reading this article…

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Using Fame to Promote an Issue: A Reponsibility or Uncouth?

by Flexo

You’ve seen it before. Perhaps you’re watching the Academy Awards and expecting the winner of Best Supporting Access to give a quick acceptance speech thanking her cast, director, crew, and family, but perhaps she takes more time to pontificate about human rights, war, or politics. Most people I know groan when yet another entertainment superstar ... Continue reading this article…

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Updated ING Direct $25 Bonus Links

by Flexo

I’ve updated the list of ING Direct referral codes with 10 new links for new customers who wish to earn a free $25 when opening their account. If you have referral links to add to this list, let me know by sending me an email. Once I run out of my own, I will keep ... Continue reading this article…

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Doodling for Charity: Doodle Day, May 8 Through May 18

by Flexo

Doodle Day is more than just a day, it is the set of all days between May 8 and May 18 inclusive. The purpose of naming this period of time is to draw attention to neurofibromatosis (NF), a common neural disorder. May is NF Awareness month, and to participate in Doodle Day, some celebrities are ... Continue reading this article…

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Credit Card Suspended for Merchant Database Breach

by Flexo

I mentioned last week that my Citibank credit card was suspended and the issuer supplied me with a new credit card number. At the time, I assumed that this was due to my recent traveling, which might have raised red flags in Citibank’s fraud detection algorithms. A number of visitors suggested calling your credit card ... Continue reading this article…

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Early Morning Blog Roundup: Big Houses, a Million Dollars, and Greed

by Flexo

Here are some articles I’ve enjoyed recently from the Money Blog Network. AllFinancialMatters gets 5 to 10 calls a week from charities asking for money. He plans his giving every year and doesn’t like receiving these calls. In a recent post, JLP asked for suggestions for turning away cold calls from charities. FiveCentNickel asks what ... Continue reading this article…

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Is a CFP Certification Necessary When Choosing a Planner?

by Flexo

I like the new columns from Money Magazine featuring “The Mole,” an undercover financial planner. Like me, The Mole prefers to write anonymously to protect his or her identity. While my reasons for doing so pertain more with my desire to post sensitive personal information, The Mole maintains incognito status because he tends to speak ... Continue reading this article…

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Updated Latest Checking and Savings Account Interest Rates

by Flexo

Following E*trade’s announcement that they were slightly increasing the interest rate on their Complete Savings Account to 3.15 percent, I’ve updated the list of savings and checking account interest yields. There have been a number of changes since the last update, including the following. UFB Direct dropped from 3.35 percent to 3.01 percent. Kirkpatrick Bank’s Savings Square dropped ... Continue reading this article…

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Where Is the Place for Irreplaceableness in the Work Environment?

by Flexo

Yes, irreplaceableness appears to be a legitimate word. Even if it weren’t, there’s a good chance you could infer its meaning without doubt. It wouldn’t matter if the word actually appears in a dictionary. Now that that’s out of the way… My former boss was laid off last week. It had only been a matter ... Continue reading this article…

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Will a Gas Tax Holiday or Taxing Oil Companies Help the Economy?

by Flexo

To help Americans pay for the increasing price of a gallon of gas, Hillary Clinton is suggesting a suspension of the 18.4 cent per gallon tax on gasoline and 24.4 cent per gallon tax on diesel from Memorial Day through Labor Day while enacting a “windfall profits” tax on the oil companies which have been ... Continue reading this article…

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E*TRADE Increases Savings Account Interest Rate, Bucking Trend

by Flexo

On Thursday, E*Trade Bank will increase the interest it pays on the Complete Savings Account from 3.01 percent to 3.15 percent APY. It’s a small move but it could be a good sign for savers if other banks follow suit. My company stock purchase plan account is held at E*TRADE and I plan on opening a savings ... Continue reading this article…

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Decisions in Real Life: Purchasing a Car

by Flexo

This is the first part of an open-ended series about major decisions that require consideration from a financial angle. The important point to note is that the financial angle is only one of many aspects that should be considered, and this fact is often ignored in some writing circles. This part pertains to purchasing a ... Continue reading this article…

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Citibank Suspects High-Risk Activity in My Credit Card Account

by Flexo

As I logged into CitiBank’s website today to check my recent activity and compare transactions against what I’ve entered in Quicken, I was greeted by a harrowing message, informing me that my account may be at risk for unauthorized use. They have restricted my online access, and I cannot view my recent activity or past ... Continue reading this article…

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Receive Consumerism Commentary Updates How You Like Them

by Flexo

There are no new posts for this morning other than this monthly reminder. By subscribing to our RSS feed with feed-reading software such as Google Reader or aggregators such as My Yahoo, you’ll always be aware of new content here. If you prefer to have daily updates emailed directly to you, simply enter your address ... Continue reading this article…

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Didn’t Receive Your Economic Stimulus Payment Yet?

by Flexo

Welcome to Consumerism Commentary. If you are new here, consider subscribing to our RSS feed (more info here). Consumerism Commentary always has the latest information about the economic stimulus payment. Several disappointed people contacted me today. They expected to receive their economic stimulus payment deposited into their bank account today but they have not seen ... Continue reading this article…

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Personal Income Statement, April 2008 (Net Income: $717)

by Flexo

Earlier today, I posted the first part of my monthly financial reporting, my April 2008 balance sheet. Publishing these reports online helps keep me accountable for my decisions and forces me to take a look at my progress each month. After a great February and a good March, April was not quite as impressive. In ... Continue reading this article…

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Personal Balance Sheet, April 2008 ($151,079, +5.3%)

by Flexo

If I were to describe my finances in three words, those words would be “slow, steady progress.” I’m not getting rich by any stretch of the imagination, but if I am able to manage consistent growth at the same rate while making sound financial decisions, I should be able to live without worries. However, anything ... Continue reading this article…

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What Size Bonus Would Convince You to Sign Up for a Credit Card?

by Flexo

As a number of Consumerism Commentary visitors have mentioned over the past few months, it’s getting harder to find good credit card deals, including 0 percent APR no-fee balance transfer offers and worthwhile sign-up bonuses. Other commenters who have been successful milking credit card companies with balance arbitrage strategies have slowed down their pursuit with fewer ... Continue reading this article…

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