From the category archives:

Credit Cards

Benefits and Exceptions of Credit CARD Act of 2009

August 21, 2009

The first phase of credit card legislation signed by President Obama on May 22 took effect yesterday, August 20, with the remaining provisions going live February 22, 2010.
MyRatePlan Analysis: We’ve listed 12 key provisions of the new law below, along with implications and exceptions.  In general, the new rules chip away or eliminate a wide [...]

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Helping you Save: Consolidate Debt

March 8, 2009

Recommendations:

Get a 0% APR balance transfer credit card
Transfer high interest balances
Don’t use this new card for other purchases

Annual Savings Potential: Depends on balance– could be $1,000 or more
Discussion According to New York Newsday, credit card interest payments were $116 billion in 2007, with another $23 billion in fees.  If you have reasonably good credit, your [...]

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Credit Card Interest Rates Drop Again

March 20, 2008

The Federal Reserve sharply cut the Fed Funds Rate by 0.75% earlier this week, leading to a corresponding decrease in the prime rate. Most credit card interest rates are tied to the prime rate, so carrying a balance on these cards just got a lot cheaper.
If you don’t have a variable rate [...]

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New Mileage Bonus Cards from Capital One

January 24, 2008

Capital One has launched a series of “No Hassle” mileage cards that award bonus miles for various types of spending.    Instead of earning 1 mile for each dollar spent, you can earn multiple miles for each dollar spent.    There are bonus mileage cards for Gas Purchases, Travel & Entertainment, Travel & Gas, Electronic Stores, Dining [...]

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Credit Card Interest Rates Drop Sharply

January 24, 2008

The Federal Reserve unexpectedly cut the Fed Funds Rate by 0.75% earlier this week, leading to a corresponding decrease in the prime rate.    Most credit card interest rates are tied to the prime rate, so carrying a balance on these cards just got a lot cheaper.
If you don’t have a variable rate credit card, now [...]

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