Low Interest Credit Cards

We are entering the holiday gift card season. While new studies show gift cards are the most popular presents to give and receive, the hidden costs may outweigh the convenience of the gift. It is important for consumers to give and use these cards correctly.

“Gift cards are easy to give, but they are also easy to forget. If the card has a monthly fee or expiration date, these can become costly little pieces of plastic,” says Bill Hardekopf, CEO of LowCards.com and author of The Credit Card Guidebook. “Even though gift cards take the hassle out of holiday shopping, you want to use them wisely. It is important to know the terms of the card you are buying.”

Holiday gift cards are a big business. According to the National Retailers Federation (NRF), sales of gift cards reached almost $25 billion in 2008. A new NRF study shows that 55.2% of adults are hoping to receive a gift card this year.

However, many households still have unused gift cards from the last holiday season.

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Is the Shell credit card really the best way to combat high gas prices? Check out our review before you apply.

As fuel prices have climbed the last few years, we’ve been forced to come up with all sorts of creative ways to save on gas: switching to more fuel efficient cars… carpooling… public transit… and of course those gas credit cards.

Nowadays it seems as every gas station has their own branded card, including Shell. To get you to sign up, they all use the same pitch: “our card will save you money!” But the reality is that most of them hide behind promotional gimmicks and other confusing reward structures that won’t save you anything above average when all is said or done.

Let’s take a look at the Shell credit cards and compare them to what’s out there…

Shell Card
This is their basic card. Because it’s not af

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Photo by Mykl Roventine

Should you opt out, opt in, opt in to opting out, or opt out of opting in?

So many choices!  But when it comes to over-the-limit fees, there’s only one answer in my mind— opting out.

One of the major provisions in the CARD Act of 2009 is that banks will no longer be able to charge over-the-limit fees unless customers choose to be allowed to make purchases in excess of their credit limits.  So, you will have the right to “opt out” of over-the-limit fees, which are often as high as $39, by simply telling your bank you would rather live within your credit limit.

The concept sounds clear enough, but I’ve heard a lot of stories lately about consumers who have been duped into giving up their new rights under the CARD Act.

If you receive a call from your credit issuer referencing over-the-limit charges, be very cautious.  Don’t let it happen to you too!

Here’s how the whole pitch might go down:

• Credit issuer calls to explain how the new federal regulations will change your credit card account in 2010
• A rep then explains that starting next February any charge in excess of your credit limit will be denied

You’re half listening to the conversation while eating dinner and watching the latest episode of “The Biggest Loser” on DVR. So, you hear the words

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There was some good news for a change in the credit markets to report. MasterCard surprised Wall Street by exceeding analysts earnings estimates. It would seem that the economy is in fact improving, although it looks like a jobless recovery.

MasterCard’s third-quarter profit shows that the world’s second-largest payments network is benefiting from more and more consumers turning to plastic. CEO Robert Selander said in a statement, “Our results once again underscore the global trend toward electronic payments.”

Both MasterCard and Visa have been the beneficiaries of the growing number of electronic payments. It must be pointed out that these two kings of the payment processing universe are different than bank issued cards because they do not give loans.

They make their money being the middleman by processing each and every payment. An enviable position to be in indeed. Credit

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