The Discover® Open Road Card has always been a great option for consumers who like to spend money on dining as well as fill up their gas tanks often. This gas rewards credit card offered a solid cash back percentage as well as a few other perks. With other issuers bumping up bonuses, Discover had to follow suit to remain competitive. Now, this card has been re-launched as the Discover® Open Road Card up to $50 Cash Back Bonus®, and every time cardholders fill up at the pump, they’ll receive $10 (up to a maximum of five fill ups).

The Discover® Open Road Card up to $50 Cash Back Bonus® has always produced an excellent rewards program, and it continues to provide cardholders 2% cash back on all gasoline and restaurant purchases. Customers earn 0.25% cash back on all other purchases for the first $3,000 annually and 1% on those purchases after passing $3,000. There is no limit to the amount of cash back to earn, and the cash back never expires.

Cardmembers will also find a good introductory offer. The Discover® Open Road Card up to $50 Cash Back Bonus® comes with a 0% introductory APR on purchases and balance transfers for 12 months, though balance transfers are assessed a fee of 4%. After the introductory period, the standard APR becomes 11.99% to 20.99% variable, depending on the applicant’s credit history. The cash advance and default APR are 23.99% variable and 25.99% variable respectively, so make sure to avoid these higher interest rates at all costs by paying on time every month. The Discover® Open Road Card up to $50 Cash Back Bonus® has no annual fee.

The Discover® Open Road Card up to $50 Cash Back Bonus is a great credit card for anyone who has a long commute or spends time dining in restaurants. The 2% cash back is about as high as you’ll see in either of these categories when you take into account the fact that cash back is unlimited. The additional $50 bonus offers a great opportunity to give this card a test drive. To fill out an application or discover more about the card, visit the secure application page for the Discover Open Road Card up to $50 Cash Back Bonus®.

The original version of this article, Discover Open Road Card Up To $50 Cash Back Bonus Review, is copyrighted by Consumerism Commentary.

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I’ve been in touch with Ramit Sethi since not long after he began writing on his blog, I Will Teach You to Be Rich, almost five years ago. It is no surprise to me that Ramit, after enhancing his writing with years of practice on his rapidly-growing website, has published I Will Teach You to Be Rich, which is right now the number one book on Amazon.com under personal finance and number three on Amazon.com overall. This is not simply a republication of the blog like some books presented by other bloggers-turned-authors. I would consider the book, released yesterday, to be one of the best books about money management for twenty-somethings. I’ll explain why in this review.

I’m not praising this book because I’ve known Ramit (through the internet) for several years. In fact, when I first discovered his blog, I was skeptical of the kid right out of college promising to teach people how to be rich. He wasn’t rich as far as I could tell; how can someone with no real experience make such a claim? I found out quickly that Ramit is a great teacher who can connect with his audience, and in all honesty, personal finance isn’t difficult conceptually. The biggest problem is cutting through the noise and misinformation, and Ramit’s background with psychology provides some insight on the barriers between conceptual knowledge and behavior.

Ramit’s book and his blog are not for everyone. The author’s style can be harsh; yet, on a scale of one to Suze Orman in abrasiveness he would only score a seven. He manages to mix insults with jokes, judging ever so slightly the stupid mistakes not of his readers, but of his readers’ friends. The book is built upon a framework of a six-week program — what self-help book would be complete without a reducible metaphor — designed to take a personal finance newcomer from freshman status to savvy long-term investor. Ramit claims readers will succeed even if pursuing only 85% of what is written in the book.

I Will Teach You to Be Rich contains actionable suggestions in the book, and 85% of the tips within would keep a money management novice busy. Many of these tips are refreshing. It is clear that Ramit is not a fan of obsessive frugality, a view that I share. Ramit also claims to be unsatisfied with the concept of budgeting, but offers a “Conscious Spending Plan:” essentially a budget with more syllables and a trademarkable name, recommends the envelope system of managing expenses, and offers two models for dividing income into buckets for planning expenses.

The elements of the six-week program illustrate the most important concepts in Ramit’s plan to helping readers work to attain the status of “rich:”

• Optimizing credit cards: using credit cards as a tool for expense maintenance, protection, and building credit
• Optimizing savings: finding high-interest savings accounts with no fees while not wasting time chasing rates
• Opening investment accounts: taking advantage of tax-advantaged retirement accounts with brokers friendly to new investors
• Managing expenses: using the aforementioned Conscious Spending Plan to decide where your money should be going
• Automating the system: removing human intervention from the financial machine to allow more of your money to work for you
• Investing to earn more: foregoing products designed to make money for the financial industry rather than for you

Many books we are accustomed to seeing in this genre are written by financial advisers, professional money managers, or those formerly or currently closely tied to that industry. Thankfully, Ramit breaks away from their traditional advice by advocating low-cost index funds and target retirement funds, stressing the lack of necessity of a professional financial planner for most individuals. Thankfully, Ramit shares the data to support his claims. Yes, it’s true that Ramit missed a calculation, but you’ll find that the concept of the benefit of compound interest is still sound.

Actionable tips are scattered throughout the book. In one section, Ramit includes a script for convincing a credit card customer service representative to drop a late fee. In another, he presents a detailed account of how he made twenty car dealerships compete for his business. In yet another, Ramit offered concrete advice for negotiating a pay raise with management. Many of the chapters include short essays provided by other bloggers, such as Nickel from Five Cent Nickel, JLP from All Financial Matters, J.D. from Get Rich Slowly, Jim from Bargaineering, Gina formerly from Lifehacker, Trent from The Simple Dollar, and myself.

While most readers of Consumerism Commentary may find the advice within the book to be simplistic and basic, I Will Teach You to Be Rich should be at the top of the list for most recent or soon-to-be college graduates. Ramit Sethi’s style of writing isn’t for everyone, but it doesn’t take long to get past the attitude. This book is a worthy competitor among other recent money management books for the age group like Suze Orman’s The Money Book for the Young, Fabulous and Broke, and Ramit’s immediate connection with the target audience makes his book more likely than others to be read, enjoyed, and followed.

I spoke with Ramit several days ago to record a conversation in which we answered several questions from Consumerism Commentary readers, sharing our thoughts and picking fights over our disagreements. I haven’t decided whether to publish the recording on Consumerism Commentary, but Ramit insists that I offer the MP3 of us answering your questions to anyone who buys the book from Amazon.com and forwards the receipt to me at flexo@iwillteachyoutoberich.com within the next 48 hours. You’ll receive an hour-long recording (if Ramit edits it down from about 90 minutes, but it’s all good stuff) of the two of us answering questions about the best accounts, saving, investing, and automating your money. It was a fun conversation, although as I’ve admitted to other people, Ramit outclassed me at every turn.

The original version of this article, Review: I Will Teach You to Be Rich by Ramit Sethi, is copyrighted by Consumerism Commentary.

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Last night, Ramit Sethi from I Will Teach You to Be Rich got together over Skype to chat about money. We spent about 90 minutes answering the questions provided by Consumerism Commentary readers last week. Ramit came up with this idea to coincide with the release of his new book, aptly named, I Will Teach You to Be Rich. This book will be released on Tuesday, and at that time I will share my review of the book and explain how you can acquire an MP3 of my conversation with Ramit.

Here are the topics we discussed in the call:

• One piece of financial advice for someone just starting out on their financial journey.
• What America can do to ensure future generations are adequately prepared to handle their finances.
• Our ideas about frugal dating.
• Sacrificing happiness in the present by saving too much for the future.
• One financial move we each made that we now most regret.
• A personal finance topic in which we don’t practice what we preach.
• Putting together a real, workable budget.
• The role of values in relation to spending.
• How one knows when he or she is rich.
• Whether a recent graduate with significant student loan debt should paying it off faster or begin saving for a house.
• Whether someone close to retirement should pay off a mortgage faster or save more for retirement.
• Credit card rewards programs, 0% balance transfers, and chasing rates to “make” extra money.
• Limiting the subconscious effects of marketing.
• Personal ethics in investment decisions.

You will be surprised at some of our answers, and I would say that Ramit outclassed me at every turn. If this sounds interesting to you, when I review the new book, I’ll explain how to download the MP3.

The original version of this article, Chatted With Ramit from I Will Teach You to Be Rich, is copyrighted by Consumerism Commentary.

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Ramit Sethi from I Will Teach You to Be Rich is currently putting the final touches on his first published book, aptly named, I Will Teach You to Be Rich. He’s probably tweaking the final paragraphs as I write this. Ramit’s new book, which will be released on March 23, includes a few pages I’ve contributed focusing on smart ways to get out of debt. As long-time readers might guess, my contribution focuses on what I’ve been calling the Debt Avalanche, but doesn’t stop there. There is so much more in this book, and I’m planning to write a full review. But the two of us have more plans, including something we think is going to be fun.

Ramit and I are setting up a one-hour call to answer reader’s questions about absolutely anything, no holds barred. Of course, the call will focus on personal finance, including saving, investing, debt, budgeting, just about anything you can name if it’s related to what people need to know about money. I’m looking forward to this chat, I imagine the two of us on the phone are going to be quite entertaining.

We’ll be making a recording of this phone call available as an MP3 to certain readers, and details concerning how to receive the recording will be forthcoming in the next two weeks. Until then, Ramit and I want to get started on planning the discussion so we need your questions. You can ask more than one, and feel free to be creative. Either leave your questions here as a comment below this post, or, if you’d rather not share just yet, email your questions directly to me (flexo at this domain name).

Ask your questions now and listen to Ramit and I discussing the answers in a few weeks.

The original version of this article, Ask Any Question and Ramit and I Will Discuss the Answers, is copyrighted by Consumerism Commentary.

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Suze Orman, the guru of personal finance gurus, is offering her latest book, 2009 Action Plan: Keeping Your Money Safe & Sound, for free. Through January 15, you can download this 209-page book without paying a cent.

Here is the download link for the free PDF version of this book.

The book tackles credit, retirement investing, saving, spending, paying for college, emergency funds and insurance. Suze’s approach is forward, demanding and aggressive, but that may be what some individuals need to experience.

This book is available as a free download through January 15 only. You can also download this book in Spanish.

The original version of this article, Free Download: Suze Orman’s 2009 Action Plan: Keeping Your Money Safe & Sound, is copyrighted by Consumerism Commentary.

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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 more the envelope looks official, the more likely it is to be junk mail. So I ignored the mail, as I often do, and left it in my incoming “file.” Yesterday, I went through the “file” to make sure I wasn’t missing anything important, and opened this particular envelope.

The notice informed me that Citi was kind enough to increase the credit limit on my primary credit card by a few thousand dollars. I have never approached my credit limit, so I wasn’t sure why they were suddently this generous.

A credit limit increase, if not used, is a good thing for two reasons.

If you spend the same amount with a higher credit limit, your credit utilization ratio decreases. A lower credit utilization ratio could have a positive effect on your credit score. A higher credit score can lead to all sorts of advantages, such as qualifying for a lower mortgage rate.

More credit is available to use in case of emergency. Using a credit card to help you through an emergency is rarely a good suggestion, but having credit available can be part of your overall emergency fund plan. If you need to pay a medical expenese immediately or rent a car in an emergency, credit cards can come in handy. A higher limit provides more flexibility. The goal is to pay as little interest as possible, so credit usage is healthier if you can pay off the balance every month.

Credit cards companies increase limits because they want people to spend more. In today’s economic climate, they don’t want everyone to spend more, only those who they deem to be low-risk consumers. I guess I am part of this group. People like me will help cover the risk the issuers take on by offering credit to more risky individuals.

Unfortunately for the credit card companies, this limit increase won’t encourage me to spend any more than I do currently.

Photo: JCKole

The original version of this article, Citi Raised My Credit Limit, is copyrighted by Consumerism Commentary.

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Costco and American Express are offering a $25 bonus in the form of a statement credit for new customers who make their first purchase using their TrueEarnings® Card.

The TrueEarnings® Card from Costco and American Express also offers significant cash back awards on most purchases, including 3% on gasoline and restaurants, 2% for travel, and 1% everywhere else. This cash back is unlimited, so you don’t have to worry about an annual cap. You’ll even earn cash back when shopping at Costco, which from what I understand already has low prices.

There is no annual fee for current members of Costco, but that’s the catch. You have to be a member of Costco to be approved for this card.

Also consider the equivalent card for businesses, the TrueEarnings® Business Card from Costco and American Express. This is a very similar card, but it does not offer the $25 statement credit with your first purchase. This card does, however, offer 5% cash back on gasoline rather than 3%. Therefore, if you plan on spending more than $1,250 on gas and if you don’t need $25 right away, the business card may be the better choice.

The original version of this article, Get a $25 Bonus With the Amex True Earnings Card, is copyrighted by Consumerism Commentary.

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I recently explained my history of having no money and as promised, will now come clean with the mistakes I’m still making:

I’m driving the wrong car

I’ve never owned a car long enough to get it inspected. The first Jeep Cherokee was a lease, and I foolishly let them talk me into not converting the lease into a purchase. Then I couldn’t afford the new Jeep Cherokee, so I took it back and they gave me a Dodge Neon with a loan amount equal to the price of the Neon plus about $6,000. Then I crashed the Neon. That was actually okay, but only because I had Gap Insurance. Always get Gap Insurance, friends. It literally saved me from being homeless.

Years later I got a Scion xB. That thing was delicious, but I grew ever more jealous of my wife’s Prius, so I traded up and got one of my own. Sometimes I wish I hadn’t done that, because I now have a $595 monthly car payment. I know it doesn’t equal out, but it sure feels good to fill the tank only once every two weeks. I’m taking care of the Prius the way I forgot to with the Scion, and I fully intend to drive it until it won’t drive anymore. I think it’s due for inspection sometime this summer.

I love shiny electronics, and they love me

Like most geeks, I have a rapport with computers that is difficult to establish with other humans, and I tend to hoard sources of entertainment. Gadgets are an expensive hobby. It never seems that way to read about them, because the journalists get them for free. I have to remind myself of that. As an Interaction Designer, I’m always looking for a more elegant solution, for more ways to automate my life, and I can rationalize any purchase by telling myself that exposure to these things will help me in my career.

That’s how I managed to “buy” an iPhone. But as you’ve guessed, I put it on a credit card. Nearly everything I own that is worth something was put on a credit card. But I’m committed to stopping that. As of this writing, I have just over $7,000 in credit card debt, which I expect to have paid off within the next 16 months.

So, I have to keep telling myself that I don’t literally need an Apple TV, or a 1 Terabyte external hard drive. When I force myself to think about it, there’s nothing in the entertainment compartment of my lifestyle that is actually broken. It’s just not perfectly elegant, and for right now, because other things are broken, that’ll have to do.

I don’t sell enough of my stuff

When I upgraded my iBook to a new MacBook last May (see previous problem with shiny electronics), only about $1,000 of the purchase went on a credit card, ’cause I managed to sell the iBook on eBay for about $600. I’ve got a boatload of unused electronics that I could be selling, but it seems like such an effort to even bother writing descriptions for them. If you have any advice for doing this more easily, I’m happy to hear it.

The interest rates are too high

On both our cars and the house, our interest rates are higher than they could be. At the time, of course, it was the best we could do. I should mention at this point that my wife’s credit history is slightly worse than mine, and until we started making mortgage payments, my FICO score was on the positive end of “Fair”. Naturally, the FICO isn’t the only thing that creditors look at, but mine has increased roughly 70 points in the last year. One of these days, I should really look into refinancing at least one of the cars.

It’s somewhat painful to admit mistakes, especially when they’re ongoing and not likely to change anytime soon. But if you don’t acknowledge there’s a problem, the likelihood of it being fixed goes down to zero. So, it’s a start.

The original version of this article, Why I Still Have No Money, is copyrighted by Consumerism Commentary.

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Near the end of my college career there was a sort of “Psychic Fair” on campus. As I recall, nobody charged us anything, so I got a reading from a Numerologist.

She basically had me fill out a form with some information about myself. I remember “full name” and “birthdate”, for example. Multiple calculations later, the right side of the form had four numbers filled into boxes with labels like “Destiny” and “Soul Urge”. The Numerologist slowly removed her glasses and looked at me quizically before telling me that all four of these core numbers were the same: 8.

To summarize:

“The number 8 Destiny suggests that the direction of growth in your lifetime will be a move up the ladder of attainment in the material world, to achieve financial security, and status amongst your peers.” source: http://www.astrology-numerology.com/num-expression.html

She explained that apparently, the only reason I was here on Earth was to learn how to attain and manage wealth. So, more than ten years later, why do I still have a negative Net Worth? Even putting metaphysics aside, it’s still a valid question.

I think there are a few primary reasons:

Upbringing

Though I considered myself an independent thinker at a very young age, you can’t decide to disagree with something if it’s never presented to you. My parents didn’t take the time to teach me how to save money, though they always told the story of how my oldest sister learned to be stingy by age seven. We definitely had classes called “Home Economics” in school, but economy never came up. It was all cooking and sewing… very progressive, I know.

Not paying attention

I’ve been diagnosed with Attention Deficit Disorder. For those that don’t have it: imagine that you’re watching TV, and the show gets less interesting. The channels automatically start changing, but you don’t notice the change until you end up back on the original program again. That’s what A.D.D. is like for me. The problem is that I didn’t know it was a treatable disorder until I was more than 30 years old.

I’m sure there were times in my life when someone was giving out some good advice about managing money, and I was happily daydreaming.

Funny story: the first four checks I wrote out to various utilities when I graduated from college all came back because I didn’t sign my name. It’d be funnier if they didn’t all charge me extra for the inconvenience.

Lack of ambition

I never had anything resembling a “career” until after I got engaged. As soon as I was responsible for someone other than myself, I suddenly felt a drive to improve myself, my brain, my prospects, etc.

So, now that I understand all of this, what am I going to do about it? Well, the ambition part has mostly taken care of itself. As for paying attention, I’ve turned money management into kind of a video game. Because everything is digital now (at least, it is for me, or I would probably lose it somewhere), I’ve got our Google Spreadsheet budget, and the bank Web site that I can have harmless obsessions over. In order to stay accountable to my goals, I’ve got you guys.

As for fixing my upbringing… well, I can’t. And since my wife and I don’t plan on having children, I can’t teach them the things I was denied. All I can do is urge you, gentle reader: if you have kids, set a good example and explain to them why you do what you do with the money.

So that covers my past. Next time I write I’ll explain all the things I’m still doing incorrectly. Here’s a hint: $595 car payment.

The original version of this article, Why I Have No Money, is copyrighted by Consumerism Commentary.

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I’m a fan of paper money less than I am of coins, but I still like to take notice whenever any currency is redesigned. The $5 bill is the latest to get a make-over to thwart counterfeiters and to keep things interesting. Apparently counterfeiters prefer to bleach current $5 and reprint images of $100 bills on the paper for a tidy profit. The new watermarks on the $5 bill should prevent this.

Here is the new design.

These colorful bills entered circulation last Thursday, but I have not seen one just yet. Personally, I’d like to see more artistic designs — on bills as well as coins. I’d also like to see elimination of the one-cent piece and the one dollar bill. I’ll go out on a limb and even consider revaluation of the US dollar in such a way that today’s $1 becomes the “new $0.10″ and today’s $10 becomes the “new $1″ and so forth. It sounds crazy, but I’d like to see this before it costs $100 to see a movie in a theater.

U.S. unveils new $5 bill to thwart counterfeiters [Reuters]

The original version of this article, New $5 Bill Now in Circulation: Is it Time to Revalue the Dollar?, is copyrighted by Consumerism Commentary.

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Has anyone been watching the HBO miniseries, John Adams? Although colonial America is not my favorite period of history, I’ve been enjoying the first episodes that have aired. However, during the slower sections of the program, you may want to take the time reading articles from Consumerism Commentary’s history.

From the first half of March 2007

By This Time You are a Seasoned Executive
What I Did With My Bonus
Problems With TIAA-Cref Continue: One Reader’s Issue
How to Withdraw Money From Upromise
Soylent Synvisc: It’s Birds!
Best Cars of 2007: Consumer Reports vs. Car and Driver
How Easy is it to Beat the Market?
February Heating Cost Way Up
Closing an Old Capital One Account
Shopping at Kohl’s and Being Granted Discounts
More Than $50 Wasted
The Cost of Buying a Home Over 30 Years

From the first half of March 2006

New $10 Bill Circulates Today
Saving Another $10 on Cable Internet (and Follow-Up)
Prices for Healthcare in Retirement Up
The Future is Grim: Ben Stein
Move Where the Cost of Living is Low
Your House: Asset or Liability?

From the first half of March 2005

For New Yorkers
Web-Based Financial Planning
No Money? Buy a Home!
Suze Orman: Young, Fabulous, and Decidedly Not Broke
Trying Out Emigrant Direct
Federal Reserve Cover-Up

Consumerism Commentary is one of the longest-running “personal finance blogs” in existence on the internet. Consider subscribing to the RSS feed to read new articles in the format and method of your choice.

The original version of this article, The Cost of Buying a Home, Low Cost of Living, and Fed Cover-Up, is copyrighted by Consumerism Commentary.

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The value of the dollar in comparison to other countries around the world is falling. Meanwhile, my net worth is increasing, so naturally I began thinking. Is it possible that although I’m earning income, saving, and investing, I’m not actually gaining ground from a global perspective? Furthermore, does a global perspective matter to me? I haven’t been outside the country in years.

From January 31, 2007 to January 31, 2008, my net worth increased from $75,121 to $125,770, an increase of of 67%. During that time, the dollar has decreased in value compared to other currencies and commodities. I ran some calculations.

I would have done better if I had been earning my salary in euros. With a strict currency conversion using rates from OANDA, my net worth was valued at EUR 57,964 at the beginning of the period and EUR 85,083 at the end. My former 67% increase in dollars translates to a less impressive 47%.

What about gold? I’ve heard people claim that the economy would be better if we never left the “gold standard.” I’m not quite sure it would make a difference. All value is arbitrary, whether it’s a metal or paper. Anyhow, converting my net worth in dollars to ounces of gold would result in a starting point of 114.61 ounces ending with 135.92 ounces. Thanks to the dollar’s decline and gold’s rise, my value in gold increased only 18% in the last year.

Does any of this matter? I don’t use either euros or gold for the exchange of goods and services. Yet, I still can’t overcome the feeling that I’m not getting ahead as much as the USD numbers claim.

New Day, New Low for Dollar [AP]

The original version of this article, My Wealth in USD is Increasing, But the Dollar is Falling, is copyrighted by Consumerism Commentary.

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If you’re new to Consumerism Commentary, these articles from the archives will be new to you.

From the Second Half of February 2007

The Case Against a Life Without Debt
Tips for Purchasing a Musical Instrument for the Non-Professional
How Much Do You Pay in Taxes?
Survey Says: More Money Leads to Better Sex
Advice Needed: Newly Found Debt and Debt Collectors
12 Steps for the Paycheck Type to Become a Millionaire
Extreme Frugality: Living Out of Your Car
Is This a Buying Opportunity?
New Jersey Property Tax Rebate Increasing for Renters

From the Second Half of February 2006

Seven Tax Mistakes You Might Make, Part 1 and Part 2
A Look at The Automatic Millionaire Homeowner by David Bach
Tax Bill or Tax Refund: Which is Better?
Ben Stein Protects America
We Don’t Need No Steenkin’ $1,000,000 for Retirement
Bank Robbers Steal Worthless EUR 50m
Retire to the Road
Worrisome Market
How to Deal With Winning the Lottery
Women Earn More Than Men

From the Second Half of February 2005

Affluent Shop at Discount Stores
Sweet Credit Card Deals
Luxuries You Can Live Without
What My Future May Hold

The original version of this article, This Month in the Archives: Life Without Debt, Better Sex, and Bank Robbers, is copyrighted by Consumerism Commentary.

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I took a vacation from work this past week to coincide with my girlfriend’s winter break (she’s a teacher). We traveled to Washington, D.C. to see the sights and meet up with some friends. Thanks to the snow, the exhibits were not very crowded. Unfortunately, the weather had a negative effect on our health, and the one day was the limit to our outdoor exposure. Highlights for us included the Stephen Colbert portrait in the National Portrait Gallery, Treasures of American History at the National Air and Space Museum, a quick run through the United States Holocaust Memorial Museum, and, of course, dinner with friends. The coin exhibit I would have liked to see at the Smithsonian closed about a week ago, and by the time we made it to the Bureau of Engraving and Printing (my girlfriend’s choice), they had already given their last public tour for the day.

There is more than enough to do the next time we visit, which will likely be around the National Cherry Blossom Festival when the city will be warmer and more crowded.

I hope you enjoyed the guest posts while I was away. Here are some more recent articles from the web, worthy of attention.

When is Debt Real Debt? JLP from AllFinancialMatters asks whether taking advantage a 0% offer is the same as incurring debt. In my opinion, yes, it’s technically debt, even if you can pay it off at any time. That’s a strictly technical definition, but for all practical purposes other than financial reporting, I would say that anything you pay off within a month doesn’t need to be considered bad debt. Therefore, “debt-free living” can involve using credit cards if you either (a) pay off the balance each month or (b) take advantage of favorable interest rates as long as you can pay off the balance at any time if needed.

Is the Cost of Living Increasing Faster Than Inflation Estimates? Nickel asks this question and from my personal viewpoint, the answer is, “absolutely.” Even taking out lifestyle creep, in which I’m spending money for better products every year, the baseline cost of everything I need to survive as a commuter/resident in New Jersey increases beyond the 3% to 4% the government cites as the inflation rate.

Yikes! People Can Create Checks from Your Account and Pay Themselves! Free Money Finance issues this warning. “You authorize a payment by phone, or a telemarketer falsely claims that you authorized a payment by phone, from your checking account. Step Two: The person you authorized, or the person who is out to steal from you, makes up a check on your account and sends it through the banking system.”

Dumb Money: The Movie Theater. Kevin from No Debt Plan writes about the cost of going to the movie theater. It had been a while since I paid full price for a movie, usually going to matinées if at all. Last night, my girlfriend and I went to see the latest romantic comedy, and I was surprised to see that ticket prices in the suburban township have climbed to $10. (If we ordered the tickets online in advance, we would have had to pay an additional $1 for each ticket, as well.)

Mighty Bargain Hunter clears up confusion by writing about seven pairs of easily-confused money terms. MBH describes the difference between multi-level marketing and pyramid schemes. One is legal, one is not, and this post explains why.

Paying for Three Kids to Go to College is Going to Be Expensive. No Credit Needed lays out his plan for saving $2,000 each year for each of his three children.

Wise Bread offers six horrible financial products you should avoid. The first on this list is the 401(k) debit card. “Early withdrawls carry a 10% penalty plus tax expenses so $10 withdrawn from a 401k becomes $6 to $7. In the past it took at least a few forms to do an early withdraw from a 401k, and it is not worth the effort to fill out a form for every $5. However, a debit card just makes the process of withdrawing small amounts so easy…”

The original version of this article, Back From D.C. (and Blog Roundup), is copyrighted by Consumerism Commentary.

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Welcome readers from Yahoo, CBS 8 San Diego, Consumerist, and various message forums from around the internet. Please take a moment a subscribe to the Consumerism Commentary RSS feed. If you’re new here, perhaps you’d like to take a look at articles from Februaries past.

From the First Half of February 2007

Americans Aren’t Saving, Little Splurges Add Up
Bad Job-Hunting Tips You Must Avoid, Part 2
Study: Money Makes People Mean
Review: You Call the Shots by Cameron Johnson
Financial Ratios for Personal Evaluation: Debt to Income Ratio
Renting is Expensive in These Cities
A Quick 40%+ Profit?
5 Tips for a Frugal Valentine’s Day
Quicken Hack: How to Track Airline Miles or Points

From the First Half of February 2006

Roth 401(k) Not for Everyone
First Impression: The Automatic Millionaire Homeowner by David Bach
Is It Time To Leave Your Job?
Changes to Online Job Hunting
Stupid Investment of the Week: Teach Me to Trade
My Money Mistake #1: Not Knowing My Net Worth
Where Should Teens Stash Their Cash
Financial Responsibility More Important Than Hot Sex
Don’t Buy Stuff You Cannot Afford

From the First Half of February 2005

Don’t Buy More Home Than You Can Afford
401(k) Asset Allocation
Another Option for Your 401(k)
Financial or Marital Bliss
Lose Your Job Over Blogging

The original version of this article, This Month in the Archives: Mean People, Quicken Hack, and Marital Bliss, is copyrighted by Consumerism Commentary.

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I don’t know much about sports betting, but I wouldn’t be surprised if there are some people — other than those affiliated with the team who will receive big bonuses — who are significantly richer thanks to the New York Giants winning the Superbowl. I’m not a big football fan, but I managed to catch the Giants’ first touchdown take the lead in the fourth quarter and everything that ensued afterwards. It was an exciting fourth quarter.

I’m just looking forward to the new episode of House.

While I’m waiting for the post-game show to end, here are some articles from around the web that I’ve enjoyed lately:

Free Money Finance asks how much it would take to give up health insurance. For me, this amount would be very high. That’s the purpose of insurance: to mitigate a risk. Throughout the rest of my life, I may need to spend hundreds of thousands of dollars on health care if I had to pay for all of it myself. Then again, I may not need more than $100,000. My buying insurance, I can ensure that most of the expense will be taken care of for a predictable fee.

Wise Bread is the newest addition to the Money Blog Network. Paul from Wise Bread noted that UK banks are blocking customers from using their credit cards. The bank in question is actually owned by the American bank Citi; they are controlling their risk of customer default by blocking access to issued credit cards. Should banks have this power? Citi obviously has its business reasons for doing so, but it can put customers who are relying on credit (for whatever reason) in a tough position.

Upset by falling interest rates on your bank accounts? Get Rich Slowly suggests using certificates of deposit (CDs) to achieve a better return. CDs are less liquid than savings accounts, and therefore serve a different financial purpose. In many cases, withdrawing your CD investment before it matures will result in a forfeiture of a portion of your interest, usually enough to reduce your return to less than it would have earned in a high-yield savings account. Additionally, CD rates are dropping as well; bank expect interest rates to be lower and have already priced CDs to take that into account. You do have the benefit of locking in your interest rate at the beginning of your investment, so if general interest rates fall further than expected, you could end up ahead.

The original version of this article, Giants Win Superbowl (and Blog Roundup), is copyrighted by Consumerism Commentary.

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If you’ve joined Consumerism Commentary within the past year, you might have missed out on what was published here previously. Here are a few articles from January in past years to catch up. Stay current with the articles here by subscribing to the RSS feed.

From the Second Half of January 2007

Suze Orman Teams Up with TD Ameritrade
Netflix: It Might Be Time to Dump It
Review: The Maui Millionaires by David Finkel and Diane Kennedy
Investing: Real Estate vs. Stock Market
Chicago Fed: Could the Penny Be Worth Five Cents?
Yet Another TIAA-CREF Problem With My SEP IRA
My MBA at the University of Phoenix Online, Part 4: Curriculum
Financial Ratios for Personal Evaluation: Working Capital Ratio

From the Second Half of January 2006

Getting in (Physical) Shape
Five Signs You Have Too Much Money
Motivation for Generation X
Wage Inequality
How to Become as Rich as Bill Gates
New Emigrant Direct Credit Card
Introducing the MoneyBlogNetwork
Home Prices More Overvalued
Money Transferred to Debt
What to Do When Your Bank is Merging
Saving is Anti-American
Income Disparity By State
Overspending vs. Underearning
A Look at Blink By Malcolm Gladwell

From the Second Half of January 2005

Fear of a Housing Bubble?
Join the Army, Get Rich
Olsen Twins Buy Out Their CEO
2004 Investment Performance

From the Second Half of January 2004

If I Were Suddenly a Rich Man
Millionaires Revisited
The Power of Residual Value

The original version of this article, This Month in the Archives: Financial Ratios, Wage Inequality, and a Housing Bubble, is copyrighted by Consumerism Commentary.

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Last weekend, I decided to open up a checking account at Commerce Bank. My girlfriend has been a customer for a few months, and she is very happy with their service. You can’t beat their hours, either. The branch a couple of blocks from my apartment open late tonight and all Thursdays — to 8:00 pm. They have long hours on Saturday and the branch is even open on Sunday.

I chose the simplest checking account offered. The free checking account has a low balance requirement of $100 (waived for the first year, probably forever) and doesn’t offer interest on the balance. I plan to keep only a small amount of funds here, accessible via ATM if I can’t find one for my primary checking account.

When I opened the account this weekend, the account manager was friendly and helpful. The process was very quick, and I was able to leave with my programmed ATM card and starting checks in hand. Before leaving, I mentioned that I was an amateur coin collector. They have machines there that customers can use to sort and count coins for free, but as I suspected, the bags of coins are shipped offsite immediately.

The account manager offered to take my phone number and let the tellers know that I would be interested in taking a look at any old or “different” coins they might receive.

I fully expected to never hear from the bank. Well, I was certainly surprised when I received a phone call today during lunch, less than a week after opening the account, from the account manager who helped me last weekend. It seems someone brought in $100 worth (face value) of large dollar coins. I’m willing to bet that this is the result of “cherrypicking” the best for their own collection and bringing the rejects to the bank. The sorting machine likely can’t handle large dollar coins, so the collection was brought to a teller.

The manager didn’t mention anything about the designs being “different,” so I’m willing to bet that these are all coins minted between 1971 and 1978, the “Eisenhower Dollars,” probably not worth more than $1 apiece.

Without hesitation, I responded that I was interested, and that I would try to stop by tonight to pick up the coins.

The original version of this article, Unexpected Call From Commerce Bank, is copyrighted by Consumerism Commentary.

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If you’ve joined Consumerism Commentary within the past year, you might have missed out on what was published here previously. Here are a few articles from January in past years to catch up.

From the First Half of January 2007

Do I Have to Declare Goals?
10 Things Your Gym Won’t Tell You
Don’t Feel Bad if You Have a Messy Desk
Do I Need to Report This Income? Part 1 and Part 2
Beginning Employee Stock Purchase Plan
Replacing the Alternative Minimum Tax (AMT)
Ben Stein: Invest in 2007 or You’ll Regret It
What’s a Decent Rate of Return?
Forget About the Latte Factor

From the First Half of January 2006

Rebate Scams
Stocks are for Suckers?
Supersize My House
Merrill Lynch Broker Allegedly Steals $320,000
Financial Courses in High School
Problems With TIAA-Cref
Quick Guide to Asset Allocation
Buying a House vs. Renting a House

From the First Half of January 2005

Having a Six-Figure Salary Doesn’t Hurt
A Better ING Direct Deal
Investing While in Debt
The Millionaire Myth

From the First Half of January 2004

Holiday Debt
Having a Good Plan
If I Were Suddenly a Rich Man

Thanks to the readers who have been following along for the last few years!

The original version of this article, This Month in the Archives: Goals, Messy Desks, and Asset Allocation, is copyrighted by Consumerism Commentary.

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There’s some news about the relatively unpopular “presidential” golden dollar coins. I’ve been using these coins almost every day, but I have not run into anyone else doing so. Most people I know haven’t even seen the coins. If you want to pick them up from the bank, pay attention to the release schedule:

February 14: James Monroe
May 15: John Quincy Adams
August 14: Andrew Jackson
November 13: Martin Van Buren

Here’s a chance to look at the four obverse designs representing U.S. presidents five through eight.

Currently, the “In God We Trust” motto appears on the edge of the dollar coins. This is an interesting idea, but I can’t say I am a fan. The edge lettering just doesn’t seem as solid as lettering on the obverse or reverse. Other people apparently had their own problems with the relocation of the motto. I’ve received forwarded junk email stating incorrectly that the “In God We Trust” motto was missing from all dollar coins as the result of some (non-existent) political God-elimination scheme. That rumor as we know is completely untrue, but a small amount of error coins struck without the lettering surfaced. Some individuals have vandalized coins to make “fake errors,” as well, but there was no underground governmental desire to remove “In God We Trust” from the coins.

Now, here is the news. The motto will be moving to the obverse of the dollar coins in 2009, while the date and mint mark will remain on the edge. This change could possibly increase the demand for earlier dollar coins from 2007 and 2008, at least among collectors, due to what will eventually be the “rarer” configuration with the motto on the edge.

Speaking of design changes, I hope that at the conclusion of the presidential dollar series, all presidential portraiture designs are retired. When designing the original American coinage, the founders wanted to stay away from honoring political leaders — it reminded them too much of the kingdom from which they were trying to separate. Let’s get back to having attractive and artistic representations of Liberty on our coinage rather than dead people.

The original version of this article, Presidential Dollar Coins: New Designs in 2008 and Future Changes, is copyrighted by Consumerism Commentary.

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If you visit Rockefeller Center in New York before the end of the year, you’ll see an “art installation” consisting of $1,000,000 in one-cent coins.

Silda Wall Spitzer, the wife of Gov. Eliot Spitzer, joined more than 300 elementary and middle school students from New York to unveil the “Penny Harvest Field,” an exhibition featuring an estimated 100 million pennies, most of them collected by children, between Oct. 22 and Thanksgiving.

Here’s a better look, courtesy of Common Cents, an organization that helps young people become philanthropists.

A serious coin collector wouldn’t mind spending hours sifting through these coins for the chance to come upon a rarity. Instead, the cents will go back to the students and teachers who contributed them. They will choose the charities to be recipients of the funds, presumably in the form of checks rather than bags of cents.

Making Cents, for Children, at Rockefeller Center [New York Times]

The original version of this article, $1,000,000 in Pennies in New York City, is copyrighted by Consumerism Commentary.

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New to Consumerism Commentary? Make up for lost time by taking a look through articles posted here in prior years. From the first half of December 2006:

* Sometimes Financial Decisions Must Consider More Than Just Money
* Whining About the Lack of Interest in Their House?
* Baby Boomers Plan to Work in Retirement
* Get Free Money: Comparing Cash Back (Rebate) Credit Cards
* Quicken 2007 Revisited: A Little Better But Far From Perfect
* The Bank Deposits $1,000,000 Into Your Savings Account…
* How to Be the CFO of Your Own Life
* Purchased a New Notebook Computer: Customized Dell Inspiron E1705
* Wealthiest in the World: I’m in the Top 10%

From the first half of December 2005:

* Bank of America’s Keep The Change
* The Most Indebted Generation
* Getting Rich Is Simple
* Backfired Bankruptcy Bill
* New Jersey Nest Eggs Incubating
* Open an Account at Every Bank
* No Need To Panic About Flex Spending Accounts

From December 2004:

* Residual Value
* Another Young Millionaire

From December 2003:

* Do You Want to Earn More Money?
* Stealth Inflation
* Thinking Ahead

The original version of this article, This Month in the Archives: Whining, CFO of Your Own Life, and Flex Accounts, is copyrighted by Consumerism Commentary.

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For a taste of old-time Consumerism Commentary, peruse these articles from the second half of November in prior years. From November 2006:

* Extreme Savers Greg and Tara: We Have Some Things in Common
* FreeCreditReport.com is a Scam!
* Money-Saving Tips for Shopping Online
* Wesabe, Web 2.0 Tool for Tracking Finances: Useful or Useless?
* There’s No Way to Sugarcoat This: I Spent Too Much This Weekend
* Young and in Debt: Five Twenty-Somethings Share Stories
* Money Gifts Better Than Cash, Better Than Things
* U.S. Mint Will Try Dollar Coins Again
* Did You Miss National Retirement Planning Week?
* Today was “Cyber Monday.� Did You Spend?
* Make Your Kids Rich: 5 Fun Gifts
* Saving for a Wedding Next Year
* Estimating Asset Values and Asset Depreciation

Here are some from the second half of November 2005:

* Don’t Stress About Investing
* Are You Pursuing Your Passion?
* Questions to Ask About Gift Cards
* HOWTO Excessively Spol Your Kids, Part 2
* Dinged Rental Cars, Dinged Wallet
* Gift Giving Among a Circle of Friends
* Microsoft’s Xbox 360 Strategies
* Will China Make Americans Better or Worse Off?
* Ten Percent of Income Over One Hundred Thousand Dollars
* Review of The Number by Lee Eisenberg, Part 1
* Taking a Pay Cut Sometimes Pays Off
* Bat-Mitzvah For The Rich And Not Really Famous
* Diversification is for Amateurs

From November 2004:

* More Millionaires This Year
* Top 30 ZIPs With Six-Figure Salaries
* ‘Tis The Season For Giving

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The original version of this article, This Month in the Archives: Money Gifts, Cyber Monday, and the Season for Giving, is copyrighted by Consumerism Commentary.

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If you’re new to Consumerism Commentary or just nostalgic, here are some articles from the first half of November in prior years. From November 2006:

* Is a Wal-Mart Sale CNN-Newsworthy?
* Secrets and Myths About Salary Your Employer Doesn’t Want You to Know
* Solved an Algebra Equation at Work
* Bond Issued to Fund Vaccinations for 500 Million Children
* My Company’s Stock Purchase Plan, Take 2
* Car Almost Done With Repairs: What Do I Need to Look For?
* Where Do Hedge Fund Professional Spend Their Money?
* What’s in House Speaker Nancy Pelosi’s Investment Accounts?
* Review: The Smartest Investment Book You’ll Ever Read by Daniel R. Solin
* 7 Ways to Save Money While Maintaining Your Extravagant Lifestyle
* My Company’s Stock Purchase Plan, Take 3
* What is Your Biggest Weakness?

From November 2005:

* Three Worst House Buying Excuses
* Reasonable and Customary
* Your Credit Report Affects Your Cards
* redit Card Solicitation to the Extreme
* Fewer Women in Hedge Funds
* The Rich Can Teach Us a Thing or Two
* Gift Cards Denote Laziness?

From the first half of November 2004:

* Better Than the Bare Minimum
* Win Ben Stein’s Advice

And from the first half of November 2003:

* Live Cheap, Look Rich
* Buy and Hold Cold Cuts

The original version of this article, This Month in the Archives: Wal-Mart Sales, Algebra, and Extravagance, is copyrighted by Consumerism Commentary.

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It has been my tradition over the past few years, I will be traveling to visit my family in California over Thanksgiving. As usual, I waited too long to purchase the airline tickets. I checked prices a few weeks ago, was discouraged by the high rates, and procrastinated even further. A few nights ago, I decided to take a look again, and surprisingly, my waiting paid off.

My search started with SideStep, a very configurable flight search engine. I made some adjustments to the dates and airports, and started to get a good idea of which combinations would save me money. I eventually decided on a round-trip flight with Continental Airlines, leaving the Saturday before and returning the Friday after Thanksgiving. Yes, it’s probably the worst date of the year for traveling, but I’m pretty sure I can handle it. Plus, I’ll have the remainder of the weekend to recover at home before returning to the day job.

I was hoping to pay for the trip using the miles I’ve accumulated over the past few years. Normally that would be possible with 25,000 miles, but unfortunately, the trips around the holiday are more expensive when it comes to using points. However, the price of the round trip flight is about $270 plus taxes and other fees. I believe this is the least expensive coast-to-coast flight I’ve ever purchased.

While my initial search took advantage of SideStep’s features, I always switch over to the airline’s site for buying the tickets. Usually, more options become apparent. For example, there are flights available on Continental’s website that are not available on partner sites like SideStep or Expedia. From what I can tell, the primary reason for this is overbooking. Both flights would not allow me to select my seating preference, which is an indication that the flights are already full and they’re counting on some customers changing their plans.

I was faced with a similar situation last time I visited California, earlier this year. For one direction, my girlfriend and I were able to select our seats online within a week of the flight, and for the return trip, we had to arrive early and hope that some other customer booked for the trip would not show up. A few minutes before liftoff, we were ushered onto the airplane. In that case, there was no option for us to catch a later flight, so it worked out. This time, if I get bumped to a later flight, I have the flexibility.

Image credit: jonwatson

The original version of this article, Purchased Airline Tickets for Thanksgiving Vacation, is copyrighted by Consumerism Commentary.

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Here are some more articles from Octobers past at Consumerism Commentary. Articles here have changed over the past few years, so you may notice some stylistic differences as you go back in time. Here are some selections from the second half of October, 2006:

* The Virtual Reality Economy of Second Life
* Wall Street Salaries are Through the Roof
* Companies Dropping Funds From 401(k)ss and What Mine Offers
* Student Loans Consolidated, Finally
* I Am Apparently Not on the Path to a Comfortable Retirement
* Circuit City Wouldn’t Allow Me to Buy the Computer I Wanted
* I Can’t Find an Inexpensive Flight
* Focusing on More Than One Interest Improves Your Brain
* If You Like Calculators, You’ll Love This
* Credit Cards at Fault? A Compelling Argument
* My Lender Wants Me to Pay $10,000 Extra

Here are some from the second half of October 2005:

* Saving With Low Income
* Balance Transfer Not Accepted
* Your New York Number
* Commissions Still High
* Started Saving $70/mo Today

Going back in time, these are from October 2004:

* Fast Forward and Get Rich
* Short-Term Savings
* Extreme Money Ultimate Kung-Fu Challenge
* More Landlord Disappointment
* It Never Hurts to Ask

And finally, from October 2003:

* Young Real Estate Tycoon
* Good News and Bad News
* Location, Location, Location
* Time to Think About Gift-Giving
* Shopaholics

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The original version of this article, This Month in the Archives: Second Life, Credit Cards at Fault, and Inexpensive Flights, is copyrighted by Consumerism Commentary.

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If you’re a new reader to Consumerism Commentary, you may have missed some articles from October in prior years. Here are a few from the past. From the first half of October 2006:

* Credit Score Question From a Reader
* My MBA at the University of Phoenix Online, Part 3.5: The Stadium
* Bought a Cheap DVD Player: RCA DRC200N
* Enhance Your Career By Consuming Alcohol
* The Blame Game: Poor Money Management, Part 1
* Review: The Bogleheads’ Guide to Investing: Asset Allocation
* 10 Examples of How You Can Be Penny Wise, Pound Foolish

From the first half of October 2005:

* End Traffic By Raising Prices
* Purchased a Bed
* HOWTO Purchase a Bed (Mattress and Box Spring)
* Financial Urban Myths

From the first half of October 2004:

* Don’t Stop Thinking About Tomorrow
* Honda Civic Has Best Gas-Mileage
* Financial Advisors and Predators

From the first half of October 2003:

* Financial Happiness
* Young Real Estate Tycoon

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The original version of this article, This Month in the Archives: Credit Scores, Penny Wise, and Pound Foolish, is copyrighted by Consumerism Commentary.

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On Monday I began debunking retirement myths with the help of Money Magazine with the first seven of 13. Today I’m presenting the remaining 6 common errors in thinking.

Myth #8: Your house can finance retirement. I’ve said this before — your house is not a retirement plan. Real estate investments are another matter; unlike other investments, the house you live in provides your shelter and is harder to cash in. You have to live somewhere. In order to start seeing the value of your house in cash, you have to downsize. Another option, a reverse mortgage in which you slowly sell your equity back to a bank, will leave you with no asset to leave to your heirs.

Myth #9: You’re too old to start saving. This is pretty straightforward. It’s never too late to start putting away money for retirement. Of course, it will be much more difficult to amass significant savings starting within earshot of the end of your career, and some sacrifices will be necessary. That might mean downsizing your house and socking away the difference or cutting back expenses.

Myth #10: Short-term market swings don’t matter. This is the mantra of the long-term investor. The daily or monthly ups and downs are irrelevant because over the long term, the stock market provides returns higher than inflation. The truth is that as you grow closer to when you’ll need to access the cash value of your portfolio, those short-term swings can be devastating. That is why your asset allocation, the mix of investments, is important. As you approach retirement, your portfolio should include a smaller portion of stocks and a larger portion of low-risk investments like bonds.

Myth #11: Top priority is the kids’ college. If you can’t fund your own future as well as your children’s education, you have to make some choices. You could always borrow money for your kid’s education while you can’t do so for your own retirement. Now, you could change some of your expectations, such as an adequate rather than dream-fulfilling retirement home or state schools rather than Ivy League schools for your kids, but when it comes down to it, your own needs come first. At least that’s what the financial community generally believes.

Now you can hope that if you help your children pay for an excellent education, they will get excellent jobs with excellent paychecks, and will use their funds to support their parents in retirement and old age. But no matter how much you spend on an education, that’s never a sure thing.

Myth #12: Decent savings plan = early retirement. Early retirement itself is almost a myth. You’re going to have to be very aggressive with savings and investing if you intend on ending up with a portfolio that’s going to allow you to live off its own income for 30 to 40 years or more. Are you saving one third of your pay after taxes? If not, you’re not on the path to early retirement.

Myth #13: You’re bound to mess up your 401(k). 401(k)s can be easy, but with companies offering a multitude of options, and in some cases making it difficult to determine the true cost of funds, it has become much easier to make a mess. Companies have countered this by offering financial guidance for their employees enrolled in the retirement investment plans. Companies often automatically enroll new employees in 401(k) with default options, which are usually good enough if never touched, only increased, to keep a solid investment plan in gear.

Myths exist because they resonate with enough human minds to be able to convince people of their truthiness without much support.

The original version of this article, Debunking 13 Retirement Myths, Part 2, is copyrighted by Consumerism Commentary.

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I was stuck in traffic this morning, so I turned off my music and tuned to my state’s “own radio station,” New Jersey 101.5 FM to listen to the traffic report. I was hoping to determine how long I’d have to be sitting in my car before arriving at work. Before the traffic report, the morning talk show host mentioned that the station is sponsoring a seminar this coming weekend to help attendees gain control of their financial lives.

The tickets are only $10, and from the looks of the uninformative seminar website, the seminar will be hosted by Eric Scott (the station’s news reporter and vice president of the station’s parent company’s news department), with special guest “Jersey Guy” Ray Rossi (co-host of an afternoon show that’s only slightly annoying and occasionally humorous) and sponsored by David Lerner Associates, Professional Planning Services, Financial and Educational Services, and an insurance agency of Genworth Financial.

How much do you want to bet that the purpose of this seminar is for these companies to sell investment and insurance products rather than giving sound, personal, personalized financial planning advice? Of course it is; why else would they be willing to offer the seminar such a low admissions price? The seminar will pay for itself by products and services purchased and contracted on the spot.

I would go just to see how hard the sell is, but I already have plans for Saturday.

The original version of this article, Seminar This Weekend: The Road to Financial Success, is copyrighted by Consumerism Commentary.

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One of the best things you can do to build awareness of your financial condition is to view your credit report. Granted, in this case, it’s your perceived condition, not by your friends, neighbors, and nosy individuals who think they can tell how much you earn by the car you drive or the clothes you wear. Your financial condition as perceived by potential lenders can cost or save you many thousands of dollars throughout the repayment life of a mortgage, for instance. The first clue to this perception is the credit report.

You get get them for free these days. In fact, you can get three credit reports, one from each of the three major reporting bureaus, each year. Visit annualcreditreport.com three times a year. I try to space my credit reports out evenly, but I don’t particularly like schedules.

If your credit report is anything like mine, it contains a list of credit cards with basic information like partial account numbers, credit limit, and payment history. Some probably date back to college when you signed up for a credit card in exchange for a free tee-shirt at freshman orientation and you may no longer even know where the actual physical credit card is. For example, here’s a snapshot of one card that may or may not be from my own credit report.

Step 1. Save your best, oldest card. Find the credit card with the longest, cleanest history, and keep this card. If you don’t know where the credit card is, call the company to update your address information and send you a new card. This probably isn’t the card you want to use; keep the credit history clean and earn rebates with newer cards.

Step 2. Close all other inactive accounts. You can do this by calling the phone numbers that are listed with the information for each card. If you have an active card with the same company, ask to move your credit limit from the inactive card to the active card, and then close the inactive card. These first steps will keep your credit history long and your credit report short.

Step 3. Choose the best card to use. If you are struggling to get out of debt, this should be a low-interest card with no perks. If you are managing your money well, this should be the card that offers the best perks (like cash back, airline miles, etc.) for you and your lifestyle. Try looking through lists of cards like 50 cards offering 0% APR on purchases, best credit cards for airline miles, rewards credit cards for drivers, best cards for 0% balance transfers, or credit cards with cash back and no annual fee.

You may not have to apply for a new card if you already have one by the same lender; just call customer service and ask to convert your card. They may have some additional options for you.

If you want to qualify for the lowest mortgage rates, the bottom line is you want to keep your oldest, cleanest credit card to show a long, solid history of responsible credit, have a low available credit to income ratio (by closing open cards), and have a low debt to income ratio (by paying off your balances every month).

Beyond qualifying for low mortgage rates, it’s also important to have a low debt to available credit ratio, so consolidate your available credit as much as possible before closing cards.

Image credit: The Consumerist

The original version of this article, How to Best Handle Old Credit Card Accounts, is copyrighted by Consumerism Commentary.

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Good news for those looking to make the most of American Express’s offer for a free round-trip airline ticket (or 25,000 Membership Rewards points to use otherwise). The offer has been extended to October 15. I won’t spend too much time writing about this because I’ve covered it recently. If you’re interested in taking advantage of the offer, apply for the AmEx Business Gold Rewards Card within the next 7 days.

After October 15, the card will offer 40,000 bonus Membership Rewards points throughout the first free year of membership, but I don’t have information on the terms and conditions yet.

The original version of this article, American Express Offer Extended, is copyrighted by Consumerism Commentary.

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The richest individual in Asia is a 26-year-old Chinese woman whose wealth comes from a family company. Yang Huiyan’s father created Country Garden Holdings Ltd., a real estate development corporation, and its stock offering made billionaires of several of its primary investors. Yang’s total wealth is estimated at $16.2 billion.

The China list’s rankings change sharply from year to year, reflecting the rapid evolution of the booming economy, which expanded by 11.9 percent in the most recent quarter. This year, there were 20 new names among the list’s top 40 richest people, Forbes said.

It’s starting to look like the “Land of Opportunity” is not the United States, but Asia.

Richest person in China is 26-year-old woman [CNN Money]

The original version of this article, Richest Person in Asia: $16.2 Billion for Yang Huiyan, is copyrighted by Consumerism Commentary.

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Pinyo, who wrote a recent guest post for Consumerism Commentary, The Weak Dollar is Killing Americans’ Wealth, interviewed me yesterday. We spoke about websites, investing, gurus, and a little bit of personal history. Read the interview at Moolanomy.

The original version of this article, I’ve Been Interviewed at Moolanomy, is copyrighted by Consumerism Commentary.

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Credit card companies want to drag customers in, and sometimes offer nice bonuses to encourage applications. If you know how to handle a credit card, bonuses can pay off nicely. Here is an updated list of current bonuses available. This past June I listed a few credit card bonuses, but this list is more complete.

Please note that many of these bonuses are available for a limited time only, so if you’re interested in any particular offer, it’s best to act now and not procrastinate. For example, the first offer below, 25,000 miles from AmEx Business Gold Rewards Card, expires in just a few days.

Sign-Up Bonus: 25,000 bonus points, redeemable for a free round-trip airline ticket on any carrier or $250 gift card.

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Discover Business Miles Card

Sign-Up Bonus: 12,000 bonus miles with first purchase.

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American Express Platinum Business FreedomPass Card

Sign-Up Bonus: 5,000 bonus points with first purchase.

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American Express JetBlue Business Card

Sign-Up Bonus: 50 TrueBlue points with first purchase.

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American Express Gold Delta SkyMiles Card

Sign-Up Bonus: 15,000 bonus miles with first purchase, additional 2,500 miles for adding an additional card member.

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American Express Starwood Preferred Guest Business Card

Sign-Up Bonus: 10,000 Starpoints with first purchase.

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Citi Professional Card with ThankYou Network

Sign-Up Bonus: 10,000 bonus points with after $250 in purchases, redeemable for $100 gift card

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United Mileage Plus Platinum Business Card (no longer available)

Sign-Up Bonus: 17,500 bonus points with first purchase, one $25 United Discount Travel Certificate, and one One-way, 1,000 mile, One-class Upgrade Certificate.

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Amazon.com Business Visa Card (no longer available)

Sign-Up Bonus: 1,500 bonus points with first purchase.

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Miles by Discover Card

Sign-Up Bonus: 12,000 bonus miles with first purchase.

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There are 25 more bonus-bearing cards listed below! Continue reading for the rest.

Citi® Bronze® / AAdvantage® World MasterCard®

Sign-Up Bonus: 5,000 AAdvantage® bonus miles with first purchase.

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Citi Gold/AAdvantage® World MasterCard

Sign-Up Bonus: 15,000 AAdvantage® bonus miles with after you make $750 in purchases within 4 months.

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Citi Patinum Select/AAdvantage® World MasterCard

Sign-Up Bonus: 25,000 AAdvantage® bonus miles after you make $750 within 4 months of becoming a cardmember.

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American Express JetBlue Card

Sign-Up Bonus: 50 TrueBlue points with first purchase.

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The Knot Credit Card From American Express

Sign-Up Bonus: 5,000 points with first purchase, redeemable for a $50 gift card

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The Nest Credit Card From American Express

Sign-Up Bonus: 5,000 points with first purchase, redeemable for a $50 gift card

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One From American Express

Sign-Up Bonus: $50 with first purchase, deposited into high-yield savings account

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American Express Preferred Rewards Green Card

Sign-Up Bonus: 5,000 bonus points with first purchase

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American Express Starwood Preferred Guest Card

Sign-Up Bonus: 10,000 Starpoints with first purchase, plus additional 15,000 Starpoints when you spend $15,000 in 6 months

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American Express Gold Delta SkyMiles Card

Sign-Up Bonus: 15,000 bonus miles with first purchase, additional 2,500 miles for adding an additional card member.

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American Express Preferred Rewards Gold Card

Sign-Up Bonus: 10,000 bonus points with first purchase

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American Express Hilton HHonors Platinum Card

Sign-Up Bonus: 10,000 Hilton HHonors bonus points with first purchase

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Chase Overstock Rewards Visa Card: $25 reward certificate with first purchase
Chase SeaMiles Visa Rewards Card: 5,000 bonus points with first purchase
Borders 3.2.1 Visa Card: 1,000 bonus points with first purchase
Citi PremierPass Elite Card: 20,000 bonus points after $600 in purchases made within 3 months of account opening
Chase Free Cash Rewards Visa Card: 1,000 bonus points with first purchase

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Sony Platinum Visa Card: 1,500 bonus points with first purchase
Amazon.com Platinum Visa Card: 1,500 bonus points with first purchase
Chase British Airways Signature Visa Card: 15,000 bonus BA miles with first purchase
Starbucks Platinum Duetto Visa Card: $10 Duetto Dollars with first purchase
Chase United Mileage Plus Signature Visa Card: 20,000 bonus miles with first purchase

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WorldPerks Visa Signature Card: 10,000 bonus miles with first purchase
WorldPerks Visa Platinum Card: 7,500 bonus miles with first purchase

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Before you apply for any of these cards, make sure you fully understand the terms and conditions. You don’t want to get stuck paying any unnecessary fees.

The original version of this article, More Credit Cards With Sign-Up Bonuses, is copyrighted by Consumerism Commentary.

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If you’re creative with words (and perhaps video), SmartMoney has a contest for you. The magazine wants to come up with another term for “retirement,” considering how its meaning has changed over the years.

Today’s retirees are more active than ever, moving forward with their lives and pursuing a wide variety of interests and passions. Suggesting retreat and withdrawl, the word “retirementâ€? no longer does this lifestage justice.

If you can provide the winning word, which may be presented in the form of a video, SmartMoney will award you an annuity valued at $100,000. The magazine will also publish a feature about your and your winning word.

Hey, I’d like to see a Consumerism Commentary reader run away with the grand prize. If you intend on entering the contest, or even if you don’t want to enter but consider yourself a capable wordsmith, leave a comment here with your suggestion.

Enter the contest at SmartMoney’s Retire “Retirement” website.

The original version of this article, Contest: $100,000 to Rename “Retirement”, is copyrighted by Consumerism Commentary.

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Yesterday, a bill that was signed into law will help emerging students pay for the cost of their education. There are several facets to the new law, so here’s a summary of the major talking points.

The maximum Pell Grant, which is awarded to students based on financial need, will increase from $4,310 to $5,400 per year over the next five years, starting with $4,800 next year.

20 years ago, a Pell Grant would cover 60% of the average public university tuition cost.

The interest rate for subsidized Stafford loans is dropping to 3.4% over the next four years. If you qualify for a subsidized Stafford loan, the government pays the loan’s interest for you while you are in school. The new law has no effect on unsubsidized Stafford loans.

Struggling graduates can benefit from a new formula to determine their repayment schedule. If you qualify, your lower payments will be based on 15% of your annual discretionary income. This applies to private loans as well, not just government loans.

If you plan on teaching and commit to the profession for at least four years, you can qualify for an additional $4,000 a year in grant money. These grants will revert to loans for anyone who gives up on the education industry.

The original version of this article, New Students Get Student Loan Relief, is copyrighted by Consumerism Commentary.

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Every so often, I’ve been going through some of the more popular credit card issuers and presenting a list of their credit cards, highlighting some of the better programs for rewards. So far, I’ve looked at the best credit cards from American Express and Capital One.

Credit cards can be dangerous tools in the wrong hands. It’s been many years since I’ve paid an interest charge or late fee; I would suggest anyone who does not pay their credit card bill completely each month should ignore these posts. For those looking for good deals, perhaps Citi has something to offer.

Citi Professional Cash Card

This Citi Professional Cash Card and its cousin, the Citi Professional Card With Thank You Network, offer similar rewards. Purchases at restaurants, gas stations, office supplies, and car rentals earn 3% cash back or 3 points for every dollar spent. All other purchases earn 1% cash back or 1 point per dollar.

The difference is that the earnings from the cash card can be redeemed via check while the points earned with the Thank You Network card can only be collected through purchasing items through Citi’s network of merchants. The good news is that many of these merchants offer gift cards.

Also, the Citi Professional Card With Thank You Network is currently offering a 10,000 point bonus after your first purchase, redeemable for a $100 gift card.

The Cash card offers a regular purchase interest rate of 10.24% and the Thank You Network card offers 11.24%. Both cards offer a 0% introductory rate for purchases for 12 months.

Citi Bronze/AAdvantage® MasterCard

The Citi Bronze/AAdvantage® MasterCard, which comes in other flavors such as Gold and Platinum, offer rewards for frequent travelers on American Airlines. With the Bronze card, one mile is earned for each two dollar spent, while the Gold and Platinum level cards earn one mile for each dollar. Miles can be redeemed not only with American Airlines, but with 25 top airlines, car rental companies, and hotels.

These three cards offer sign-on bonuses after your first purchase. You will earn 5,000, 12,500, or 15,000 points depending on the level of card you own. The increasing benefits come with increasing annual fees, however. The Bronze card has no annual fee while the Gold and Platinum cards charge $50 and $85 respectively. This annual fee can be worthwhile if you make the most out of these credit card rewards.

Citi Dividend Platinum Select

I consider the Citi Dividend Platinum Select to be the flagship rewards card. Unfortunately, it is not quite the card it used to be. Many past cardholders saw a reduction of the cash back rewards and were later suggested to change to the Citi Dividend World MasterCard. For new card members, the Citi Dividend Platinum Select offers 5% cash back on purchases at supermarkets drugstores, gas stations, convenience stores, and utilities including cable. After 6 months, this is reduced to a 2% cash back bonus. All other purchases earn 1% cash back.

The Citi Dividend Platinum Select for Students offers the same features, but has a different promotional rate. The card for students offers a 0% APR on purchases, cash advances, and balance transfers for 6 months, while the standard card extends that offer for 12 months.

Citi Driver’s Edge Platinum Card

For one year, this card offers 6% cash back on purchases at supermarkets, gas stations, and drugstores and 1% rebates on all other purchases. This is one of the best rebate offers that I’ve seen lately. After one year, the 6% level drops to 3%, putting a damper on what otherwise would be the only card to use for certain purchases.

You also receive rebates for each mile you drive, $1 for each 100 miles. That can add up considerably. Citi verifies your mileage by requiring a copy of auto service receipts with odometer readings.

Unfortunately, the rebate isn’t pure cash. The rebated can only be used towards the purchase of a car, repairs or service, or merchandise in the Thank You network. The maximum you can earn each year is $1,000 in rebates, higher than other rebate programs, but not unlimited.

Like some of its other cards, Citi also has another version of this card, the Citi Driver’s Edge Card for College Students. The difference here is the lack of the 6% rebate offer; the highest purchase categorizes max out at 3%.

Citi Home Rebate Platinum Select Card
The Citi Home Rebate Platinum Select Card is another good replacement for the Citi Dividend Platinum Select. For 6 months, this card earns a 6% rebate benefit on purchases on utilities, cable and satellite television, internet connection, and telecommunications services. After 6 months, this rebate is reduced to 1%, the same as the rebate for all other purchases.

If you don’t want to use this card for purchases, consider balance transfers. During this promotion, there is no balance transfer fee and no interest charged on transfers for one year.

As always, these credit card rewards are not for everyone. If you pay interest or late fees, you won’t benefit from any special offers. Only consider opening new credit if you are an expert at managing your own money and buy only what you can afford to pay each month.

The original version of this article, Guide to CitiBank Credit Cards, is copyrighted by Consumerism Commentary.

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For being such a wonderful customer, Verizon Wireless is offering me the chance to increase my talking habits in turn to increase the chance I’ll go over my plan’s limit and pay for excess “overage.” Yes, they sent me a reward of 100 free anytime minutes, which I will retrieve from a special website for people like me.

Unfortunately for them, I am always under my limit, so this reward is nice but wasted on me. These 100 minutes are “good” for 60 days, at which point any unused bonus minutes will expire. I might as well not even bother.

I also received another rebate check from Citi as a result of my continuous use of my Citi Dividend World MasterCard, which at some point I should switch to a new card with better rewards programs. That’s an extra $200 I can use for… savings, I suppose.

The original version of this article, Two Nice Surprises for a Friday, is copyrighted by Consumerism Commentary.

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It’s simple to paraphrase Ben Stein’s latest column on Yahoo Finance. If you have a long-term view, take advantage of short-term traders who panic in a recession. Buy and continue to buy through market downturns, and you’ll make more money in the long term.

The evidence is overwhelming and consistent that if you buy when stocks’ P/E is below its 15-year moving average, you’ll make far more money than you would if you bought at the economic peak, when P/E’s are high. So, unless you’re out of money to buy with during the recession, you buy. You don’t go on margin to buy, and you don’t re-mortgage your home to buy. But if you’re employed and have money to invest, you buy.

When everyone else is panicking, and the media is in a frenzy, there are bound to be deals everywhere.

The original version of this article, How to Make Money in the Market Over the Long Term, is copyrighted by Consumerism Commentary.

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About a year ago, TD Ameritrade customers began receiving spam sent to email addresses used only with that company. TD Ameritrade admitted customers’ contact information had been compromised. Reading in between the lines, the recent announcement of a database breach at Ameritrade seems to be the same event. From what I can tell from Ameritrade’s answers, this same breach has been occurring for several years.

Unfortunately, the issue of SPAM is an industry issue that has been increasing over the past few years. There are many different SPAM campaigns that affect almost every person with an email address. We were investigating a stream of stock-related SPAM sent to our clients when we discovered this particular issue. The investigation had been going on for some time.

The only customers not affected by the breach are those who have registered later than July 18 this year. Those affected have received spam in the email accounts related to stocks.

Ameritrade is reassuring customers that no sensitive information was leaked. The only damage is the increase of spam messages and any price fluctuations of stock due to customers’ actions based on the spam emails.

Even though I don’t have an Ameritrade account, I get a large number of emails pushing stocks. I’ve trained my email software to discard most of the junk before I see it, so it’s only a minor annoyance. The bigger problem is the fact that a company could let this security breach continue for several years.

The original version of this article, Database Breach at TD Ameritrade, is copyrighted by Consumerism Commentary.

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Yesterday I was informed that Capital One changed their credit card offerings. I have updated the Guide to Capital One Credit Cards to remove the old cards and add the new, including Capital One® No Hassle Cash^SM Rewards, Capital One® No Hassle Miles^SM Rewards, Capital One® Platinum Prestige, and Capital One® Platinum. Most of those cards have separate applications depending on the quality of your credit.

More details about these cards, their new promotions, and their new interest rates, can be found on the Guide to Capital One Credit Cards.

The original version of this article, Updated Capital One Credit Cards, is copyrighted by Consumerism Commentary.

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Until earlier this summer, I had been living with less than 30 cable television channels, one third in a language not spoken by me. I reduced my cable subscription a few years ago in an effort to save some money. When I moved into my new apartment, I was offered free cable for a year, so I took the offer. Now I have several hundred channels, including some programming I am interested in and a lot of programming I don’t find particularly interesting.

The reason all the unwanted channels are included is because the cable company can’t get the better channels without them. They call it “bundling.” For example, content providers like ESPN (owned by Disney) make it less expensive for the cable companies to receive ESPN only when it’s bundled with ESPN2, ESPN News, The Disney Channel, and perhaps even The Ocho.

The FCC is considering making it “against the rules” for content providers to bundle channels; soon, each channel must be sold separately, so the cable companies have more flexibility to decide which channels to buy and offer to customers. When I heard about “cable a la Carte” in the past, it was more along the lines of offering customers more choice in the channels they buy, to avoid useless programming and to focus on only the channels of interest. This possible ban of bundling by the FCC doesn’t address this issue at all.

Cable companies could sell channels individually at any time, but for the most part, the sell only bundled packages — just like the content providers they are fighting. This ban will do nothing for the end consumer. The idea that cable companies will pass their savings onto their customers is laughable.

FCC puts “a la carte” cable on the menu [USA Today]

The original version of this article, Getting Closer to Cable a la Carte, is copyrighted by Consumerism Commentary.

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Green Life, Green Wallet emailed me with a link allowing curious financial readers to view the latest issue of Fortune Magazine for free. This free edition, which is basically a scanned version of the printed magazine, is sponsored by Zecco, and that sponsorship is very evident. The first click on the link, which will be provided at the bottom of this post, presents the viewer with a large Zecco advertisement with annoying music that begins playing immediately without the readers’ ability to pause or stop the noise. When you click through to open the magazine, you are presented with a page in the middle of the issue with a full-page Zecco ad rather than starting on page 1 (with more ads) or the table of contents.

If you can get past that these annoyances, you’ll find a magazine full mostly of more advertisements and lackluster articles. This is simply more free evidence that this magazine is not worth a subscription.

Speaking of advertising, I’ve removed the Google-powered AdSense ads that appear on Consumerism Commentary for readers who have commented here (and thus have a cookie in their browser software to remember their names for the comment entry form). Want to see fewer ads here? Simply leave comments — the more relevant, the better. This is an experiment, but if it works well, it will be permanent.

Here’s the link to read the magazine for free, but make sure your volume levels are low. As another option, read articles from Fortune Magazine online for free, courtesy of CNN.

The original version of this article, Read Fortune Magazine for Free Online, is copyrighted by Consumerism Commentary.

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The MoneyBlogNetwork was formed in January 2006 to bring together some of the top blogs in the personal finance niche, and today the network is happy to report some additions.

No Credit Needed and Get Rich Slowly are joining the six prior members of the network. I respect NCN, J.D., and their blogs immensely and I’m looking forward to working closer with them.

One of the best features of the MoneyBlogNetwork is the forum, where personal finance bloggers from all over the world get together to share ideas. This is the strongest visible benefit of the network, but more importantly, there is a large amount of work that we do for each other behind the scenes.

Here are the members of the MoneyBlogNetwork. These blogs have been on the forefront of the personal financial blogging scene for years and have continued to prove their excellence.

* AllFinancialMatters (charter member)
* Blueprint for Financial Prosperity (charter member)
* Consumerism Commentary (charter member)
* FiveCentNickel (charter member)
* Free Money Finance (charter member)
* Get Rich Slowly (joined September 10, 2007)
* Mighty Bargain Hunter (joined March 1, 2006)
* No Credit Needed (joined September 10, 2007)

The personal finance blogging community is one of the strongest I’ve ever been a part of. We all want our individual blogs to succeed, but within and even beyond the network, so many bloggers are willing to assist others as they pursue their goals.

The original version of this article, MoneyBlogNetwork Inducts Two New Members, is copyrighted by Consumerism Commentary.

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Apple announced they’re reducing their price on the iPhone. Even at the lower price, I’m still not interested. I’m satisfied with my phone and my Verizon Wireless service. If I wanted to use the iPhone, I would have to switch carriers. While I’m no longer in contract and wouldn’t be subject to a termination fee, I’m not interested in switching. My employer provides a discount on the service, as well.

$200 is a significant discount from the iPhone’s original price, but I maintain the device was highly overpriced from the beginning. Do you know anyone who will be rushing out to get Apple’s iPhone?

The original version of this article, Apple Reduces Price of iPhone: Anyone Buying?, is copyrighted by Consumerism Commentary.

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American Express originally issued only “charge cards,” which required users to pay back their entire balance every month. This is my preferred method — in fact, my only method — of dealing with revolving credit with an interest rate. These days, American Express also offers typical credit cards, complete with annual fees, interest on carried-over balances, and rewards.

When it comes to “business” credit cards, you don’t have to own or operate a business to qualify.

Business Gold Rewards

While this card offers no introductory rates on purchases or balance transfers, the Business Gold Rewards Card is running a limited promotion in which new customers receive 25,000 points. These points can be redeemed for a free round-trip airline ticket.

This card is a charge card, not a credit card. This means, like American Express’s original cards, the balance must be paid in full each month. Hence there are no introductory interest rates — or any interest rates. If you are late on a payment, American Express may charge you up to $35 or 2.99% of the delinquent balance. That’s not an annual interest rates, that’s an immediate percentage of the overdue balance.

Platinum Business FreedomPass

The American Express Platinum Business FreedomPass Card is a credit card for those interested and active in travel. The points you earn by spending can be applied to travel expenses without seat restrictions or black-out dates. AmEx is now offering 5,000 points with your first purchase.

This card offers no annual fee and an introductory 0% APR on purchases for one full year.

Blue Cash for Business

With this card, you can earn up to 5% cash back on your purchases, but there are restrictions. In fact, earning that 5% might prove to be difficult to some. In order to earn 5% on your current purchase, your year-to-date spending must be between $7,500.01 and $15,000, and the 5% rebate only applies to purchases from American Express “OPEN Savings Participants.”

American Express will provide users of this card, as well as those of any card in the OPEN network, a wallet-sized card that lists certain vendors who provide additional discounts beyond the typical cash back. For example, you can save an additional 5% at FedEx, 5% at Ruby Tuesday, and 10% at Symantec, and these rebates are automatically credited to your account.

The card also offers a 6-month introductory 0% APR on purchases.

Starwood Preferred Guest Business

You may recognize Starwood’s hotel brands, Sheraton, Westin, W Hotels, and St. Regis. The Starwood Preferred Guest Business Credit Card from American Express which carries a $30 annual fee (waived for the first year) caters to frequent patrons of these establishments. With 10,000 bonus points with your first purchase, you can take advantage of three free nights in one of Starwood’s hotels. When you purchase stays at a Starwood hotel, you earn two points for each dollar, while other purchases earn one point per dollar.

The card also boasts a relatively high standard interest rate of 18.24%, with a 6-month introductory period during which the rate is 2.9%.

SimplyCash Business

With my rewards credit card from Citi, I have to request a check to receive my cash back. The SimplyCash Business Card makes the process of redeeming rewards easier; cash back is automatically credited to your credit card statement each month. As far as those rewards go, you earn 5% cash back on gas, office supplies, and wireless services, and 1% back on “virtually all other purchases.”

The card also offers an introductory period of a full year in which no interest will be charged on all purchases. The regular rate is a “low” 8.25%.

Business Green Rewards

Like the Business Gold Rewards Card, the Business Green Rewards Card is a charge card, not a credit card. Balances are due in full each month, and if payments are late, they are subjected to what could be a hefty fee. There is no annual fee for the first year of card use, and you earn points with every purchase, including an extra $5,000 points for your first purchase.

Despite the name of the card, ownership has no environmental benefits. These days, when something is called “green,” it’s almost assumed that it has been designed with an eye towards respect of the environment, but in this case, it is simply a color chosen by American Express, not much different than blue or gold.

The cards above are likely the most interesting of the available products from American Express, but there are at least a few more rounding out the offerings.

• Gold Delta SkyMiles Business Credit Card: This card offers numerous bonuses that can be redeemed with Delta Airlines.
• JetBlue Business Credit Card: If you’re a frequent flier on JetBlue, the rewards offered for spending with this card will be useful.
• Platinum Business Credit Card: This is a standard card with a one-year introductory APR of 0% on purchases.

Applying for any one of these cards is a straightforward process. You don’t need to include a business name or tax ID number other than your Social Security number if you do not want. American Express is usually quick to let you know whether you are approved.

The original version of this article, Guide to American Express Business Credit Cards, is copyrighted by Consumerism Commentary.

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I have a confession to make.

My name is Sasha, and I’ve spent the last five years completely opposed to bringing my lunch to work. Diametrically opposed, in fact. I’d shudder when my favorite frugal bloggers brought it up, shifting to the next topic as quickly as I could.

“Yes,” I’d think to myself, “I know I’m spending $10-$12 per day on lunch alone, not to mention those $3 muffins I occasionally fall prey to in the morning. Yes, I know it must cost me an insane amount of money per year. But I don’t care because I can’t spare the time to deal with the headache of bringing lunch. I’m organized, but too busy to be that organized.”

And on I went, repeating my daily lunch mantra, scoffing at the unsexy brown lunch bags people pulled, half-frozen, from our cramped little minifridge at work as I wandered off in search of something more exciting — namely, the same exact salad I’d buy almost every day from the place around the corner, then devour over my keyboard. Yep, most of the time, my lunch was downright thrilling.

I have another confession to make, however. I’ve changed.

For the past three weeks, I’ve been bringing my salads myself. In spite of vowing never to do this again after excavating my precious organic baby lettuces from the minifridge only to find each leaf encased in ice, here I am, toting in my haute cuisine.

Why the change? I’m a huge fan of gadgets, and recently discovered some toys just cool enough that I’m willing to spare the time to load them up each evening.

It started with this:

Fit & Fresh Salad Shaker

When I turned the corner in the supermarket and spied this item, I knew I had to have it, but at around $10, I picked it up and put it down again a few times before taking the leap. It’s big enough for a filling lunch salad, my utensils are included with the lid so I don’t have to mooch from my coworker’s stash, and, best of all, there’s a cute little separate dressing chamber that deploys — and I do mean deploys — itself into your salad with the twist of a dial. It’s so amusing that I’ve demonstrated it for several coworkers already. There’s a specially-sized ice pack which sits under the cover, so I can keep this in my tote till lunch without ever again experiencing Ice Age lettuce. I’m sold, and I now spend my lunches feasting on nice, organic farmers market salads.

The, company, Fit & Fresh, also makes a cute chilled sandwich container which features separate compartments for bread, filling and condiments to keep things fresh and unsoggy, and best of all, a breakfast kit which holds cereal, milk (within a chilled ice ring) fruit and even a spoon. To me it seems a truly decadent, not to mention inexpensive option to have a big bowl of cereal with fruit at my desk in the morning.

These containers aren’t the cheapest options, certainly, but to me the fun factor is worth it and I like the reusability aspect, replacing disposable containers or utensils.

Come to think of it, a bento box-type setup like the Mr. Bento by Zojirushi with separate little microwaveable dishes in an insulated container would be pretty cool, too, albeit more pricey. There’s even a version pour les femmes, known as Ms. Bento.

And lest one’s beverage become boring in comparison, there’s My SIGG, a series of wildly customizable reusable aluminum water bottles, meant to be an eco- and budget- friendly alternative to disposable bottled water. Well, once one gets past the initial $20-something expense, that is.

I now realize it could end up costing me quite a lot to save money by bringing my lunch, but as long as I exercise some restraint, I should still be better off than I was buying my bodega salads. Personally, I prefer to invest in a few fun, reusable basics rather than a stockpile of disposable items, but I’m entertained by the range of options overall, from that crumpled brown bag and tin-foiled turkey club on up.

Do you have any fun lunch accessories to share? What works best for you?

The original version of this article, Toys for Lunch, is copyrighted by Consumerism Commentary.

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To complete — at least for now — my living room upgrade, I purchased a Toshiba HD-DVD (HD-A20) from Circuit City. Just looking at the listing now, I see the price has increased since Tuesday from $359.99 to $399.99. In fact, in the store, the advertised price was $399.99, but after showing the listing on the internet from that day, they matched their online price.

Before deciding on this device, I had to face the big question that is preventing other people I know from jumping into high-definition video: Blu-Ray or HD-DVD? For me, the answer is straightforward. Blu-Ray players are often twice as expensive as HD-DVD. It’s a shame that studios are aligning themselves with one format over another; this might prolong the inevitable crowning of one champion, like Beta vs. VHS.

Once settled on the HD-DVD format, I wanted to find the best value I could. After more online research including Consumer Reports and a number of other communities, I chose the system I mentioned above. No, it’s not built with high-end components, but it delivers a good value.

I also picked up one HD-DVD, Sky Captain & The World of Tomorrow. I saw the movie in the theater when it came out. It wasn’t a fantastic movie, but it was visually stunning, a perfect candidate for high definition. Once the HDMI cables arrive today or tomorrow, I’ll have something to pop in immediately to see how 1080p suits me.

The store didn’t have a wide selection of HD-DVDs, but I’ve been finding more options on Amazon.com and adding them to my Wish List for future purchasing.

After my expenditures this week, it’s time to cool down for several months. There are still several components I need in order to make the experience complete, but I will hold off for a while. Here is what is missing in my set-up:

* Television stand or wall-mounting brackets, so I can reclaim my repurposed coffee table
* High definition audio receiver with surround sound and additional speakers, as the television’s internal speakers are not so hot
* Fancy remote control that can communicate with all devices, so I don’t need the variety I use now
* Game system like the Xbox 360 so I can waste more time when I should be blogging

Once I’m ready to spend significant money in this department, I’ll be looking back at this list.

The original version of this article, Upgrading My Living Room Entertainment, Part 3: High-Definition DVD, is copyrighted by Consumerism Commentary.

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Consistency is not a virtue of the stock market these days. Dow down to 13,238.73, S&P 500 down to 1,457.64, Nasdaq up to 2,565.30. [Bloomberg]

The original version of this article, Market Update, August 30, 2007, is copyrighted by Consumerism Commentary.

If you enjoyed this article, follow @flexo on Twitter and visit Facebook for more updates.

In writing about the purchasing of a new Sharp Aquos HDTV, I forgot to mention the extended warranty. I tried to use circuit City’s extended warranty as a bargaining chip to see if the salesman could lower the price. That didn’t work, so I left the store without the plan. For $190, if the television stops functioning properly in the first three years of ownership, Circuit City will send someone to attempt repairs. If the television cannot be repaired, Circuit City will replace it. I know that Circuit City makes tons of money on extended warranties like these, but it may just be worth it for a device in which the technology is still so new, and replacement costs would be prohibitive. $63 a year is not bad for this kind of insurance.

The friend who was helping me transport and set up the equipment says he usually will buy extended warranties on expensive electronics, even though it bothers him that they are cash cows for the company. When a piece of equipment stops functioning 18 months after the purchase — past the limit of the manufacturer’s warranty — it can be frustrating. Is peace of mind on a $1,300 piece of equipment worth $63 a year?

For comparison, a phone from Verizon Wireless that costs $100 can be insured with replacement protection from that company for $72 a year (and you’ll still have a $50 deductible). I think it’s clear which one is a better deal.

I still have several days to think it over. What would you do?

The original version of this article, Upgrading My Living Room Entertainment, Part 2: Extended Warranty, is copyrighted by Consumerism Commentary.

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