Author Archive for David Weliver

Applying for a home purchase loan, mortgage refinance, or home equity loan online has never been easier—even in today’s tricky credit market. Here’s how: Continued

The Federal Deposit Insurance Company (FDIC) is a division of the United States government that insures bank deposits up to $100,000 each. The FDIC was founded after the Great Depression, when many troubled U.S. banks failed under economic pressures and the additional weight of panicking customers simultaneously demanding their funds. Usually, consumers like you and me never think twice about whether the money we put into our bank accounts will be there tomorrow. But today we do. Continued

I find it interesting that even though the Federal Reserve opted not to lower interest rates this week, some banks are adjusting their interest rates anyway. HSBC Direct lowered its online savings rate from 3.50% to 3.25%, giving competitor FNBO an upper hand in the battle for top high yield savings account (FNBO’s rate is still 3.50%). American Express also raised the regular APR for new credit cards issued by an average of 1.0% on several popular cards. Despite the rate hike, with a 9.99% regular APR, Blue from American Express remains one of the best all-round cards available. As the financial industry struggles, they’ll try to squeeze customers to remain profitable, but if you know where to look, good deals on your basic savings and credit products are still out there.

Brittany writes: I am an ’07 grad with a great credit history. I have a $4,900 credit card balance on a 9.99% APR card. I am considering transferring the balance to a Chase Visa Platinum credit card, which offers 0% for 12 months and a low fixed regular APR. My problem is that credit card applications ask for annual income, and I was recently laid off from my finance job. I earn a few hundred a month at a part-time job, I am starting to temp, and I hope to find a new position soon, but I don’t want to lie about my income on the credit card application. What do you recommend? Continued

Lehman Brothers’ and Merrill Lynch’s employees and investors are having a bad, bad day. But if you’re not one of them, how do the failures of these Wall Street giants affect your wallet today? Hopefully, you won’t even notice it. Continued

Online checking accounts are popping up like dandelions. Banks hope that promises to pay interest or waive fees on any balance will lure consumers away from brick and mortar checking accounts. Often, standard checking accounts at big banks are not cheap. You certainly can’t earn interest unless you have a hefty balance, and you get charged for everything from checks to using the ATM. Why not, then, switch to an online checking account? Continued

Is anybody else sick of hearing about lipstick? I, for one, want to hear about the issues again. Like sustainable tax relief for Americans earning less than $100 grand, the creation of good-paying jobs here in states, affordable health care for every American, and a realistic way to reduce our dependence on foreign oil—or petroleum at all, for that matter—before we can no longer afford to drive to work. My two cents. Here’s a spattering of other bloggers’ views (on personal finance at least), that I particularly enjoyed this week: Continued

Wanna watch 134 YouTube videos about people saving money? The videos are responses to a contest sponsored FNBO Direct, a high yield savings account that will give away $5,000 to five finalists to be selected in October. Continued

Buying your first home is one of the most important and exciting financial milestones of your life. But before you hit the streets with a realtor, you need to have a good sense of a realistic budget. Just how much can you afford to spend on a house? You can determine how much house you can afford by using three “rules”, or percentages of your monthly income. Continued

Pam asks: Three years ago I racked up debts on several credit cards. I paid those cards off and closed them. Today, my only card has a 19% APR and no rewards. My credit score is only about 600 because I was (quite) late a few times. Today, I am debt free except for $3,000 on this card. I’ll pay it off in a year, but I hate paying 19% interest. Can I qualify for a balance transfer credit card? Continued