Banks advertise balance transfer credit cards as a money-saving debt fix. Of course, we know better. Balance transfers can reduce your interest costs and help you pay down debt, but only when used responsibly. Here are some safe handling instructions for credit card balance transfers.
It’s time to give yourself a ten-second financial check-up: Are all of your hard-earned dollars earning interest? Savvy investors know that every dollar deposited at a bank, brokerage, or financial institution should be making money… and that includes your short-term savings, cash investment balances, even your checking account. If not, you should be looking for […]
When it comes to pulling the wool over customers’ eyes, banks issuing credit cards are the pros. And one of their favorite ways to trick you is to raise your credit card interest rate. Although new credit card laws make it more difficult for the banks to do it, don’t think you’re immune to a […]
Today, I want to tackle a common question: When savings account interest rates suck, how else can you get a return on your cash? Here’s how one reader phrased it: I’m a single young professional without any debt. I make a decent living. I have a 401(k), Roth IRA, and an emergency fund. Currently my […]
As the economy recovers, interest rates will start to increase. To many, rising interest rates are a bad thing because they lead to higher rates on mortgages, auto loans, and credit cards. Although it’s true that higher rates can hurt, rising interest rates can also be a good thing because you can earn a greater […]
Stories of credit card companies raising interest rates on just about everybody—even customers with perfect credit, no debt, and no late payments—continue to roll in. That’s because the CARD Act takes effect this winter and will restrict credit card companies’ ability to raise interest rates on existing customers. If you thought credit card companies were […]