Low Interest Credit Cards

So recently I was in the market for a new car. Now, I know that many will argue the merits of only buying used cars because of the steep and immediate depreciation hit you take the minute you leave the lot with a new car. Well, in general, I prefer to buy new because I don’t trust my ability to evaluate the mechanical condition of a used car. Plus, it’s just a lot easier to comparison shop for new cars. I also keep my cars for a long time, so the depreciation is less of an issue.

Another problem I face when buying a car is that I hate haggling. Personally, I’d rather pay a slight premium for a more convenient transaction. Which is why I decided to explore the subject of this post: a review and comparison of a few of the “no-haggle” price car purchase programs on the market.

Carsdirect.com
The most established online program seems to be from Carsdirect.com. On their

Read more…

A new study by the Center for Responsible Lending finds that credit card issuers have managed to find new ways to pad their profit and work around the Federal Reserve Board rules and federal law set to take effect in February 2010. Even as old abuses are outlawed, CRL finds that new ways to squeeze fees out of consumers are being introduced and popularized.

Among them:

Pick-a-rate: Up until now, a variable rate card was usually tied to the prime rate on the last day of the last billing cycle. CRL’s report shows that a number of issuers now have added language to select the highest prime rate within a 90-day period. T

Read more…

Earlier this year, two large arbitration firms announced they would no longer be handling credit card collection disputes. Now comes word that, as a result of a huge class action lawsuit against the major banks, many of them are starting to drop the language in their contracts that requires consumers to engage in binding arbitration rather than taking their case to the courts. Earlier this week, B of A announced it would drop these requirements for consumer and small business agreements for at least three and a half years. On Thursday, Capital One became the latest bank to agree to drop the clause, as part of a settlement over the lawsuit. B of A and Cap One join JPMorgan Chase, which had previously reached a similar agreement in November.

These settlements are hailed as a victory for credit card users, as many consumer advocates have viewed the arbitration process as being unfairly biased towards the credit card companies.

Select Chase Freedom card holders can earn triple cash back or points on dining, education, childcare and utilities expenses charged to their card between January 1 and March 31, 2010.

As each offer appears to be individualized, there may be a spending threshold that needs to be reached before earning the bonus. Of note is that the maximum bonus available during the promo period is $20. Enrollment must be completed by March 12, 2010.

To enroll, see www.yourchasefreedom.com.

American Express just announced a new Membership Rewards redemption option, allowing cardmembers to use points toward federal, state and local income tax payments. Through expanded partnerships with Pay1040 and Official Payments Corp, cardmembers can now redeem their points towards the actual tax payment. Previously, points could only be used to offset the cost of the convenience and payment fees incurred when filing taxes online. Unfortunately, the redemption rate of 200 MR points per 1 dollar towards your tax bill leaves a lot to be desired.