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Credit

Fed Issues New Rules for Credit Card Fees

by Smithee

The Credit CARD Act of 2009, which we’ve been covering in detail throughout its long snake through Congress, is finally nearing the end of its beginning. Ever since the fall of 2008, lawmakers have been trying to end abusive credit card practices. It started with a set of proposals from the Federal Reserve, but that ... Continue reading this article…

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Citi® Diamond Preferred® Rewards Card $100 Bonus

by Luke Landes

The offer you are interested in has expired. Read our review of the Citi Diamond Preferred Card.

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Citi Dividend Card Changing Cash Back Benefits

by Luke Landes

Editor’s Note: Thank you for your interest, this offer expired and is no longer available. Several years ago, the Citi Dividend Platinum Select MasterCard was a great credit card to use for the spending you would have done anyway. At that time, you could earn 5 percent cash back on all your purchases. For a time, ... Continue reading this article…

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Citi CashReturns Mastercard Review: 1% Cash Back Rewards and 0% APR

by Luke Landes

The offer you are interested in has expired. Read our Citi Credit Card reviews.

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FreeCreditReport.com No Longer Offers “Free” Credit Reports

by Luke Landes

The Credit CARD Act of 2009 required the Federal Trade Commission to regulate marketing surrounding products offered by the credit reporting agencies (Experian, Equifax, and Transunion). Starting this month, offers like FreeCreditReport.com must be transparent about their offers when they are tied to “free trials.” It’s easy for us to single out Experian’s FreeCreditReport.com because ... Continue reading this article…

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New Bank of America Credit Card Statement

by Luke Landes

Earlier this month, Smithee shared his glee after receiving his new Chase credit card statement, reflecting changes brought on through the new rules affecting credit cards. I received a new statement this month, as well. I used my Bank of America Signature Visa card recently to purchase airfare for a short vacation, and the charges ... Continue reading this article…

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Bank of America Ends Some Overdraft Fees

by Luke Landes

Last year, Smithee reported that Bank of America was the first major bank to allow customers to opt out of overdraft protection and the associated fees. Those customers who opted out of overdraft protection would have their card rejected when attempting to make a purchase without the funds available. Thanks to these changes as well ... Continue reading this article…

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The New Credit Card Statements Are Here!

by Smithee

I never thought I’d put an exclamation mark on a sentence about credit card statements, much less be sincerely excited about it, but here we are. You have to pick your battles in life, and clearly-displayed information is one of mine. Educating people about credit card danger is another. Today, I feel like I’ve won ... Continue reading this article…

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Take a New Inventory of Your Credit Cards or Pay New Fees

by Luke Landes

I’m growing more concerned about my relationship with credit card issuers. We’ve been getting along mostly well for several years. I charge many of my expenses, pay my bills on time, collect some rewards, and they don’t levy any additional fees. These companies are certainly making money off of me through the interchange fees they ... Continue reading this article…

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New Credit Card Rules Take Effect Today

by Luke Landes

May 22, 2009 seems like ages ago. That is the date that the Credit Card Accountability, Responsibility and Disclosure (CARD) Act became a law, changing the way credit card issuers interact with their customers. As of today, this law is now fully in effect. The new regulations are designed to help protect consumers from practices ... Continue reading this article…

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19.99% APR On My Citi Credit Card, True Cost of Credit

by Luke Landes

Editors Note: The rates in this article reflect the authors credit card rates at the time this article was originally written, these rates do not reflect current credit card rates. Because I check my credit card activity online almost every day to ensure nothing unexpected has been charged to me, it’s rare that I examine ... Continue reading this article…

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American Express Membership Rewards Points Can Be Used to Pay Taxes

by Luke Landes

American Express offers a point-based rewards system called “Membership Rewards” to those qualify for and use their credit or charge cards. Points generally benefit only cardholders who pay their bill in full every month, so any accumulation of benefits does not first need to offset interest or late fee charges. With American Express, these points ... Continue reading this article…

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Two Down, $2,000 to Go

by Smithee

When I was a new college graduate in 1997, I got my father to co-sign on a credit account so I could buy a computer. It was a shining white beautiful Gateway 2000, it probably cost around $2,000 (you kids and your $300 computer deals!), and it came with an interest rate of 26.9 percent. Around ... Continue reading this article…

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Reader Question: Can You Write “See ID” Rather Than Signing Your Credit Card?

by Luke Landes

I can’t remember the last time I’ve signed the back of a credit card, and I use my credit cards (one for personal travel and big expenses, one for all other personal expenses, and one for business expenses) almost every day. It has never caused me any problems with cashiers; at the most, I might ... Continue reading this article…

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House Approves Expediting Credit CARD Act

by Smithee

We reported just a few days ago on the passage of a measure in the House of Representatives to expedite the Credit Card reforms passed earlier this year. Unfortunately, I left out some of the story, as I’m still figuring out the intricacies of how laws are made, and there were some amendments made to ... Continue reading this article…

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Expedited CARD Reform for Consumers Act of 2009

by Smithee

After the Credit CARD Act of 2009 was signed into law, we saw how credit card issuers started making life tougher for their customers. In short, banks were levying fees on their customers indiscriminately, affecting both the good and the bad. This has been going on for months. Lawmakers have publicly condemned it, and made ... Continue reading this article…

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Bank of America Adding Annual Fees to Credit Cards

by Luke Landes

With the current and upcoming changes in the credit card industry due to the Credit CARD Act and other regulations put in place by the Federal Reserve, banks and credit issuers are maneuvering as much as possible to be in a good position to continue making money off their customers. Public corporations have responsibility to ... Continue reading this article…

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Credit Report Cards: Credit.com vs. Credit Karma

by Luke Landes

For a few years, Credit Karma has been offering a product that lets consumers see what lenders and employers see when they look at the consumers’ credit reports. After securely and privately providing your personal information, Credit Karma retrieves your credit report from one of the credit reporting bureaus, either Experian, Equifax, or TransUnion. Credit ... Continue reading this article…

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Free Identity Theft Monitoring for AAA Members

by Smithee

If you’re an AAA member in California, Hawaii, New Mexico or Texas, you’re suddenly eligible for a free credit monitoring service, provided by Experian. While I was looking through the fine print (a free service for you provided by ConsumerismCommentary.com), I found this, which gave me pause: You are receiving a complimentary credit monitoring membership. ... Continue reading this article…

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One Person’s Successful Debtor’s Revolt

by Smithee

Frequent readers know all about how a depressed economy and new laws are serving as convenient excuses for banks to be raising interest rates and otherwise penalizing clients, even those who pose no risk. Ann Minch was presented with multiple notices of an interest rate hike. Even though she says she’s never missed a payment, ... Continue reading this article…

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