Credit issuers have become quite stingy when offering new credit card limits. But who can really blame them? With unemployment high and the economy still sputtering along, it shouldn’t come as a surprise that credit issuers want to do everything possible to reduce unnecessary risk.
Likewise, consumers are trying to reduce their own risk by paying down credit card debt and saving more cash. According to the latest report from the Federal Reserve Bank, revolving credit decreased nearly $900 million between June and July of this year. That marks a total annual decline of 1.8 percent and suggests that Americans are truly serious about not only curbing spending but also managing their existing debt.
So, how are they actually doing it? 0% balance transfer credit cards continue to be one of the most popular tools people use to pay down high-interest credit card debt during tough economic times. W
Credit unions don’t get nearly enough love. More often than not, credit unions offer lower loan rates, higher savings interest rates, and occasionally even excellent rewards programs on credit cards. They also tend to have better customer service and provide all-around more pleasant experiences to their members. The problem is that they are often non-profits, and don’t have the advertising bucks that their bigger bank competitors wield, so you’ve probably never heard of most of them.
Navy Federal Credit Union is the largest credit union in the world, and anyone who serves in the US military, or is peripherally employed by the Department of Defense in any way, shape, or form, is eligible. Retiree
More young adults are going to community college or putting off their education to save money
The economic downturn has impacted many adults, forcing them to make significant financial changes to stave off foreclosure or pay down their debts. But young adults are feeling the effects as well, especially when it comes to planning for college. Most parents have seen their savings depleted and are working hard to make ends meet, forcing their children to find other means of financing their education. Other parents, unable to pay out-of-pocket for college, are also using their retirement funds to finance their children’s education.
Many universities and colleges have faced budget cuts and a decline in private donations, requiring them to raise tuition or cut scholarship and grant programs. Read more…
Have you heard about how you can unlock your car by having someone transmit a signal from a spare remote key via your cell phone? Pretty cool, huh? Well, it doesn’t work.
Keyless remotes and cell phones operate on completely different frequencies, so don’t plan on this trick ever saving the day the next time you lock your keys in the trunk.
Regardless, I’ve heard this urban myth so many times over the past few months I even started to believe it might work. That is, until I saw it busted with my own eyes on perhaps the greatest show known to mankind—Mythbusters. Seriously, I can’t get enough of the Discovery Channel.
Similarly, we all know there are plenty of credit-scoring myths out there that spread like wildfire. Who knows where they start, but they too tend to gain incredible momentum as they spread via email forwards and conversations around the water cooler.
Here’s one I’ve received several emails about lately. It has to do
Ritz-Carlton just announced they are rolling out the rewards red carpet to loyal customers for the first time in the hotel chain’s history. Marriott Rewards members will also be happy to know that they can take advantage of many of the Ritz’s perks through their own rewards program, since they can now earn Marriott points on Ritz-Carlton hotel stays, and redeem those points for free nights at Ritz hotels. If you’re a fan of these hotels, this is another reason to consider one of Chase’s two Marriott Rewards credit cards – the Signature and the Premiere. But which one should you choose?
Verdict: Despite the $65 annual fee, the Premiere is by far the best way to earn rewards. It has a bigger sign-up promotion, a much higher reward rate at Marriott hotels, and pays bonus rewards on other travel expenses.
Side-by-side comparison
In the first year, the Signature has no annual fee while the Premiere charges $65. But the Premi
— Cindy Williams @ 6:45 am — 
September 22, 2010
