Should you ever go into debt even if you have the cash to make the purchase? Dave Ramsey would definitely say “NO!”. But believe it or not, there are situations in which it may actually cost you more if you don’t go into debt! [...]

Worried federal regulations will force card issuers to slash rewards and loyalty programs? Citi is bucking the trend with its Citi Private Pass program. Private Pass gives Citi cardmembers significantly discounted (and sometimes even free) tickets to a wide range events including some of the hottest concerts and sporting events. For example, through August 31st, Citi and Live Nation are offering Citi cardmambers lawn seats to some of the summer’s hottest concerts for just $5. [...]

This year’s credit card reform laws will deliver consumers long-overdue protections from dubious industry practices. But don’t breathe a sigh of relief just yet. The credit card companies, already reeling from a year of record losses, will find new ways to make credit card users pay. Here’s what you need to know to take advantage of the upcoming credit card industry changes and how to avoid letting the industry take advantage of you! [...]

Mortgages are complicated. Looking to swap one mortgage for another by refinancing? They get even trickier. So it pays to understand how the mortgage refinance process works and when refinancing is a good idea (and when it’s not) early in life. That is, even before you buy your first home. [...]

I can’t imagine life without a checking account. But millions of Americans don’t use direct deposit, write checks, or use a debit card. Some because they’d prefer not to. And some because they can’t. For those that can’t have a checking account, chances are they bounced one too many checks and are flagged in ChexSystems—the “credit bureau” for checking accounts. What is ChexSystems? And why does it matter? [...]

We saw it coming. Last month Congress and President Obama changed the rules for credit cards by signing the CARD Act into law. A few weeks later, the credit card companies are already responding by increasing interest rates on existing customers. Have you been hit with a rate jacking in the last month? Please share your story in a comment. Here are a couple examples I’ve already seen. [...]

Everybody I know that has bought or will soon be buying a home spends countless hours searching for the perfect home. Few, if any, spend much time searching for the perfect mortgage. Make no mistake; finding the right first home is important. But your dream home could be for naught if you end up in a less-than-ideal mortgage. If you’re in the market to buy your first home, make sure you master the art of how to find the best mortgage for you before you set foot in your first open house. [...]

I am absolutely fascinated by the role of credit cards in today’s recession, the new credit card laws, and how both will transform the role of credit in our lives. As somebody who got way over his head by using credit cards irresponsibly in my early twenties, I’m thrilled that following in my footsteps may not be so easy for future generations. I worry, however, that if the pendulum swings too far in the other direction, difficulty in obtaining credit cards may continue to stifle both the overall economy and young Americans’ ability to become homeowners, start businesses, and build our dreams. [...]

I received a comment the other day on an old post (Have You Said “No, Thank You” To Credit Cards?) that I think everybody should read. Despite this reader’s best intentions to avoid credit (and essentially boycott the credit card industry), he’s now stuck unable to buy a home at age 29 even though he has $20k saved. Even worse, he can’t even get a simple low limit credit card to begin building credit. To him, and presumably many other Americans, the credit market is totally closed. Read his story now: [...]

It seems like a crazy question given so many rewards credit cards have gone to no annual fee. But two credit cards–including one very new credit card—ask prospective members to shell out over $400 a year to carry them. So I ask, do those annual fees simply provide card members with the “prestige” of carrying some very expensive plastic, or do they entitle you to worthwhile benefits? [...]