There’s a story circulating that customers are using cash instead of credit for their holiday purchases this year, more than they have for many years past. I found this story detailed in Newsweek. Here are the highlights you should know: Credit card issuers are raising interest rates and fees, while lowering spending limits Some analysts ... Continue reading this article…

Every Tuesday, Smithee presents an article about his own experiences with and observations about credit cards. Do you have a credit account with Citigroup? I probably do. I think I started one with Rooms To Go when we started paying for our very comfortable bed. They said it would be interest free for however-many months. ... Continue reading this article…

After reviewing October’s expenses last week, I decided that November would be a good month to experiment with a cash-only philosophy. Some studies have shown that in general, people spend less money when their only option is cash or that the use of credit cards inspires additional spending. Most of the time, these studies simply ... Continue reading this article…

If you’re responsible with credit cards and looking for a bonus, look into the Preferred Rewards Green Card or the Preferred Rewards Gold Card from American Express. Both of these cards are charge cards, so if you use one of these cards, you must pay the balance in full every month. With the American Express ... Continue reading this article…

Last week, I received an official-looking notice in the mail. You know the type: the envelope requires you to tear the perforated edges in a specific order and contains security ink so the contents cannot be seen until opened. There is a return address on the envelope but no business name. In my experience, the ... Continue reading this article…

Kiva is an international non-profit organization that facilitates “microlending” for the purpose of its mission, alleviating poverty across the world. The organization allows those who wish to contribute to lend money in small amounts to entrepreneurs in the developing world. Kiva’s website lets you browse entrepreneurs’ profiles to select the recipient of your micro-loan and ... Continue reading this article…

Every week, cash back credit card deals are decreasing. American Express recently emailed me to let me know that they have lowered the cash back rate on their SimplyCash Business Card from 5 percent to 3 percent on gas station purchases. If this is your card, it might be time to seek out another deal. Here are ... Continue reading this article…

CNN Money is taking a hard stance against credit card reward programs. Citing a study released yesterday by Consumer Reports, which I have not yet seen online, rewards cards entice customers to spend more than with regular credit cards. Additionally, the restrictions common with many cards make the rewards less valuable than they appear. The ... Continue reading this article…

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…