November was another busy month filled with saving, consulting, budgeting, and in the final week of the month, a new job! I start another part time job this week with a local urban environmental organization, and I couldn’t be more excited.
My only debt as of now is my student loans which are at $37,000. I am formulating a strategic plan to start making payments after the first of the year, mainly focusing on my highest interest rate unsubsidized Stafford loan which is currently at just under $15,000.
This time of year it can be so hard to stick to a budget when there are all kinds of treats and presents available. S
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U.S. Senators Jack Reed (D-RI), Charles E. Schumer (D-NY), Bill Nelson (D-FL), and Robert Menendez (D-NJ) sent a letter earlier this week to the Federal Reserve urging it to crack down on credit card companies who, the senators say, are surreptitiously marketing business credit cards to consumers in an attempt to avoid the new protections surrounding credit card billing practices that were put in place last year.
These protections do not apply to business credit cards, and the problem, the democratic law makers say, is that the credit card companies are not clearly identifying their marketing material as being for business credit cards and that anyone can get one.
In a press release, the senators wrote that a recent study done by The Pew Charitable Trusts revealed “that over ten million business credit cards are offered to consumers every month – the majority of which have terms that would be illegal in consumer cards.”
In their letter, the senators asked the Federal Reserve to immediately begin requiring that companies offering business credit cards clearly state in all correspondence and marketing material that the card being offered is a business card and does not have the same protections that consumer cards do. Also,
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The American Automobile Association was founded over 100 years ago in order to assist drivers. Today, it offers such services as roadside assistance, travel planning, and discounts on travel related products and services. Through their financial partner, Bank of America, they also offer the AAA Member Rewards Visa Signature card. This rewards credit card allows members to earn points towards cash back, travel, and merchandise awards.
For each dollar spent on the AAA credit card, cardholders earn one AAA rewards point. Two points are earned for purchases at gas stations, drug stores, and grocery stores. In addition, triple points can be earned by purchases of goods and services from AAA such as insurance, luggage, and attraction tickets. Read more…
What’s Roth IRA? It’s the new type of Individual Retirement Account, that has earned much popularity. With the disadvantages associated with traditional IRA options removed and flexible options added, this is considered as the best way to go for retirement planning. However, there are certain criteria to be fulfilled by anyone intending to enroll for an account. It’s good to check with roth-ira.org, before deciding on this. Read more…
There have been an increasing number of complaints from the big banks of late in regard to new federal rules which put a limit on how much retailers are charges when consumers make a purchase using their credit card.
New rulings imposed by the Federal Reserve have halved debit card fees to around 22 cents per swipe.
In response, banks have been very unhappy. Over $30 million was spent on lobbying each month in an attempt to overturn the new debit card laws. In order to make up for lost revenue Bank of America attempted to charge consumers $5 a month for the ability to make debit card purchases.
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Capital One boosts rewards for Black Friday weekend by Peter Andrew 
Capital One last week announced plans for a special Black Friday promotion for holders of its rewards credit cards. From Nov. 25 to Nov. 28, you can gain enhanced points and cash back by using the companys Perk Central online shopping portal to make purchases from more than 40 retailers.
Extra rewards for Black Friday
Normal rewards (both points and cash) will be boosted by up to 100 percent on goods or services bought from these online outlets.
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Halloween is upon us, and with it comes kids in mutilated bed sheets, Milk Duds getting traded for the vastly superior Junior Mints, and “It’s the Great Pumpkin, Charlie Brown” on TV.
Regardless of whether you think Peanuts is a meditation on innocence or childhood alopecia, the cartoon has a wealth of advice on personal finances and fiscal responsibility. Sound like a stretch? Read on:
Situation: Charlie Brown, dressed as a ghost with a dozen eye holes, goes trick-or-treating. Adult
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Discover Financial Services reported last Friday that holders of its credit cards were doing better than at any time in the past 25 years with the delinquency rate for credit card loans over 30 days past due dropping to a record low of 2.79%. The company also said that the charge-off rate for its cards dropped to 5.01%.
Related
The news was also positive for the company itself with a reported net $600 million income for the second quarter of 2011. This is more than a 100% year-over-year increase from its reported net income of $258 million for the same quarter last year.
In addition to the positive credit card news, the financial services company shared other highlights. At $25 billion, Discover card sales volume grew by 9% since the same period last year.
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A credit report is vital for the financial life of any citizen and at times one might require it instantly. But the million dollar question for such aspirant would be to find out how to obtain an instant credit report.
Instant Credit Report
Though a citizen is entitled to his or her free credit report once (in some states twice) a year from the major credit reporting bureaus, they will not be coming up instantly. Even when the time and period are fixed, they could be a couple of days later than the due date.
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