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Credit

The End of Credit Card Rewards?

by Luke Landes

An article on CNN Money seems to imply that Credit Card rewards programs will be decreasing. I mentioned at the beginning of the month that American Express would be changing their reward program. This may be a sign of things to come; it’s possible that more card companies will follow suit. Today’s article says programs ... Continue reading this article…

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American Express Raising Fees and Changing Their Rewards Program

by Luke Landes

Editor’s Note: Thank you for your interest, the information in this article is no longer current and the offers mentioned have expired and are no longer available. The annual fee for holding certain American Express cards is going to increase by $35 to $125, while other card holders might see fees decline. Are these fees ... Continue reading this article…

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Deceptive Credit Card Offers, Part 4: Due Times

by Luke Landes

As you may know, I’ve been running a series this week, looking at several deceptive practices credit card companies have begun to use in the past few years. As credit issuers have been making less money on the spread between their borrowed cash and the interest they charge their customers, the companies look for new ... Continue reading this article…

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Deceptive Credit Card Offers, Part 3: Over-Limit Fees

by Luke Landes

Over the past few days, I’ve written a few posts about how credit cards have instituted new penalties in the past few years. They’re deceptive because you often don’t find out these terms until your application for credit has been accepted. Many long-time credit holders don’t even realize these newer practices exist! So far, we’ve ... Continue reading this article…

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Deceptive Credit Card Offers, Part 2: Universal Default

by Luke Landes

This is a short series in which we look at some of the deceptive practices favored by credit card companies. These are terms that are often not discolsed until after you’ve already applied and the company has checked your credit report. The items have been mentioned in an article on MSN, and I’m expanding a ... Continue reading this article…

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Deceptive Credit Card Offers, Part 1: Two-Cycle Billing

by Luke Landes

Although it’s common to recieve mailing from credit card companies offering credit cards with attractive terms, like 0 percent APR balance transfer offers or offers on small business credit cards they won’t tell you all the terms of the agreement until you actually apply for the card. This is often the case regardless of your “pre-approved” ... Continue reading this article…

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Americans Are NOT In Bad Shape With Credit, Sort Of

by Luke Landes

I like Liz Pulliam Weston’s latest article, The Truth About Credit Card Debt because she cites some statistics that fly in the face of conventional thought regarding credit behavior of Americans. We’ve all heard this before: Americans are in an unparalleled level of revolving credit card debt. The average American household carries more than $9,000 ... Continue reading this article…

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Raising Interest Rates

by Luke Landes

Everyone is affected by raising interest rates, but different people are affected in different ways. CNN Money describes how a typical American (homeowner, spender, etc.) is affected by interest rates. Interest rates are simply the cost of borrowing money; the prices paid by institutions trickle down to the consumer. So if you’re in the market ... Continue reading this article…

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Good News For DiscoverCard Holders

by Luke Landes

DiscoverCard has made some improvements to its online features. You can now schedule payments in advance, make payments as often as every three days, and have your payment post the same day if the transaction is initiated before 5:00 pm Eastern. The last improvement is a nice touch for procrastinators. I once tried to use ... Continue reading this article…

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New Emigrant Direct Credit Card

by Luke Landes

There have been rumors if this for a long time, but Emigrant Direct has finally announced their new credit card. This is a “platinum” MasterCard that offers up to 1.25 percent cash back on all purchases with no yearly limit. The rewards are deposited directly into your Emigrant Direct account twice a year. If you ... Continue reading this article…

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American Express One

by Luke Landes

Editor’s Note: Thank you for your interest, this offer expired and is no longer available. American Express is offering a relatively new (well, a few months old) credit card called One. As you spend, 1 percent of each purchase is automatically deposited into a savings account. It’s not a horrible interest rate, beating that of most ... Continue reading this article…

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Cashiers Offering Credit Cards at Register

by Luke Landes

In almost every store I visited while shopping over the last week, the cashiers offered me an additional discount if I’d apply for (and be granted) a store credit card. Usually a 10 percent discount for the entire day is part of that offer. According to MSN Money, some companies have been offering more, such as ... Continue reading this article…

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Your Credit Report Affects Your Cards

by Luke Landes

If you carry a balance on your credit card from month to month (which I strongly feel should not be done if possible), be extra careful about negative items hitting your credit card. In the past, credit card companies would raise their interest rates to a card user who misses a payment or two. Missing ... Continue reading this article…

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Raise Your FICO Credit Score

by Luke Landes

You may have been offered a credit score when you took advantage of the free credit report offer. CNN is offering tips for boosting that score. But first a note. Often, credit scores offered by the credit reporting agency are not true FICO scores — the ones mortgage companies use when contemplating your credit risk, ... Continue reading this article…

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Credit Card Grace Period

by Luke Landes

After I learned to stop using my credit card for buying things and paying for expenses, I learned how to use my credit card deals for buying things and paying for expenses. By this, I mean I realized that I can use the credit card as a tool, especially if it offers a rebate like ... Continue reading this article…

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Free Credit Reports Now Available!

by Luke Landes

The rest of the country was given this benefit at varying times earlier this year, but it finally has come to the east coast. I was going to wait until September 1, the official “release date,” but as MyMoneyBlog noted, the floodgates have opened a few days early. I’m talking of course about free credit ... Continue reading this article…

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Wallet of Plastic

by Luke Landes

It’s widely believed that the more credit cards you have, the better your credit rating. MSN Money, with the help of some experts, debunks that common misconception and recommenhds having two to six credit cards, and using them wisely: Keep your debt ratio low. Don’t carry a balance higher than 30 percent of the credit limit. ... Continue reading this article…

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0% Balance Transfers

by Luke Landes

The 0 percent interest credit card balance transfer game is a popular one to play. I had first encountered the trend on the Motley Fool message boards a few years ago. The credit card companies are making these quick-money ideas a little more difficult to navigate, with rules that differ among the many different offers. According ... Continue reading this article…

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