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Credit

45% Less Credit in Americans’ Wallets

by Smithee

Meredith Whitney, an analyst with Oppenheimer & Co. is predicting that credit card issuers may cut as much as $2 trillion worth of available credit in the near future, representing about 45 percent of today’s levels. The Motley Fool has decided to call this The Death of Credit Cards, but we’ll be co-existing with them for ... Continue reading this article…

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November Cash Experiment: Successful, Perhaps

by Luke Landes

Early last month, I decided to leave my credit card in my wallet throughout November. Over the last few years, I’ve been using a rewards credit card to pay almost all of my day-to-day expenses. I never pay interest charges because I always pay my credit card in full before the due date. I buy ... Continue reading this article…

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Will You Have a Cash-only Yuletide?

by Smithee

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…

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Criminal Charges: Volume XVII

by Luke Landes

About the author: This guest article is presented by Jeremy M. Simon, who writes for Taking Charge. Jeremy’s articles focus on payment card and debt trends impacting consumers. Thanksgiving is nearly here, and credit card misdeeds show no sign of letting up, meaning yet another well-stuffed edition of Criminal Charges, my weekly roundup of news ... Continue reading this article…

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Citigroup Credit Card Rates Going Up: A Mystery

by Smithee

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…

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$50 Cash Back Bonus With Discover More Card

by Luke Landes

The offer you are interested in has expired. For current offers read our review of Discover Cards.

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November Cash Experiment

by Luke Landes

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…

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Should the Bailout Money Be Used to Forgive Credit Card Debt?

by Luke Landes

The Financial Services Roundtable and the Consumer Federation of America asked the Department of the Treasury today for a piece of the Emergency Economic Stabilization Act money, the bailout money, to help banks and card issuers reduce the credit card balances for borrowers who don’t qualify for other government assistance like repayment plans. So far, ... Continue reading this article…

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Get a $50 or $100 Gift Card From American Express

by Luke Landes

Editor’s Note: Thank you for your interest, these offers expired and are no longer available. 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 ... Continue reading this article…

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Credit Cardholders’ Bill of Rights Passes the House

by Smithee

I didn’t think this was even already in motion, but I’m happy to report that the proposed “Bill of Rights” for credit card-holders (which is almost every adult) passed through the House of Representatives by a huge margin: 312 to 112. It’s amazing that 112 Representatives would even vote against such a thing, which has ... Continue reading this article…

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Citi Raised My Credit Limit

by Luke Landes

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…

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Calming Facts About Identity Theft

by Smithee

If someone successfully applies for a loan or a credit card using your identity, there will be a big mess to clear up. I don’t want to downplay the hassle, there. I would be extremely annoyed if that happened to me. However, what we hear on the news and especially in commercials for services like ... Continue reading this article…

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Support Entrepreneurs in Developing Countries With Kiva

by Luke Landes

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…

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Credit Card Policies Unfair? Tell the Fed.

by Smithee

The Federal Reserve Bank issued a proposal this past May to: prohibit unfair practices regarding credit cards and overdraft services that would, among other provisions, protect consumers from unexpected increases in the rate charged on pre-existing credit card balances For a limited time, you can add your opinion to this proposal (scroll down and click ... Continue reading this article…

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Get Cash Rebates for Buying Gas With Credit Cards

by Luke Landes

Editor’s Note: Thank you for your interest, these offers expired and are no longer available. 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 ... Continue reading this article…

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25,000 Bonus Miles on Citi Platinum Select AAdvantage® World MasterCard

by Luke Landes

The offer you are interested in has expired. Read our review of other Citi cards.

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Credit Card Rewards are a Rip Off (for Some)

by Luke Landes

Editor’s Note: Thank you for your interest, these offers have expired and are no longer available. 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. ... Continue reading this article…

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Credit Card Suspended for Merchant Database Breach

by Luke Landes

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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Citibank Suspects High-Risk Activity in My Credit Card Account

by Luke Landes

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

by Luke Landes

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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