Low Interest Credit Cards

Over the years, economists and other academicians have closely studied the wealth gap between younger and older Americans. Not surprisingly, the results of these regular studies showed that older Americans – those aged 65 and older – typically fared better in areas such as income, home ownership/home value, debt relief and employment.

However, the most recent analysis of the wealth gap – performed by researchers with the Pew Research Center – reveals that from 1984 to 2009 this wealth gap has exploded from 10:1 to 47:1. This means that the average net worth of a head of household aged 65 or older is currently 47 times greater than the average net worth of a head of household aged 34 and under.

(Here, new worth encompasses the cumulative value of a person’s home, possession and savings (i.e., bank accounts, stocks, retirement accounts, cars, vacation property, etc.) minus their debts (i.e., student loan debt, mortgage debt, credit card debt, etc.))

While older Americans have always enjoyed a higher net worth due to the simple fact that they have likely paid off more debt over the course of time and accumulated greater savings/return on their investments, the 47:1 wealth gap is believed by researchers to be the highest on record.

What’s behind this historic gap?

Not surprisingly, researchers – who arrived at this conclusion by examining U.S. Read more…

Eligibility criteria is set by MAGI, for a person wanting to open a Roth IRA. To get more details on the eligibility criteria, it’s a good idea to check roth-ira.org. This may vary depending on whether one is married and is filing jointly, or is living separately from his or her spouse. Understanding MAGI, helps a great deal in getting a clear idea about limits to contribution for this type of account. Read more…

When someone mentions the word “Banking,” the main ideas that comes to most of our minds are based around the recent turmoil so closely associated with banks like Lehman Brothers, Bear Stearns, and the numerous others that either failed or received plentiful media coverage for needing to take bailout money – What most likely doesn’t come to mind when banking is mentioned are monks, temples, grain, and cattle.

In banking’s infancy, deposits of grain and cattle were made at temples because of the safety that comes with a sacred, well-constructed, building that was “well-staffed” with monks. Since that time, banking has evolved dramatically to become its own institution separate from temples and religion (unless, of course, you are like a few people on Wall Street who consider capitalism to be a religious movement). Modern banks

Read more…

The Tyburn Group Inc, a global solutions provider for prepaid card products and services, recently announced the immediate release of the FlexClear Prepaid MasterCard. According to the release, the FlexClear card is a flexible, reloadable prepaid card that can be used everywhere MasterCard debit cards are accepted. The flexibility of the card includes free signature and PIN purchasing power, an online bill pay feature and ATM withdrawal access anywhere displaying the MasterCard, Maestro or Cirrus brands. Other features mentioned in the press release include card-to-card money sharing, no pesky check cashing fees and thousands of retail reload locations available across the country through Green Dot, Allpoint, MoneyGram and Western Union.

Read more…

Switching credit cards used to be a time-consuming and highly stressful process but now, with most issuers offering balance transfer deals, the hardest part for many people is deciding on the right card.

While specific offers change frequently throughout the year, there are always a few features, like the ones below, that will help make the search for the best balance transfer as successful as possible.

Long Introductory Offers

Credit card debt comes in all different forms but regardless of how big a balance is a longer introductory period is usually better.

Cards with offers that run from nine months to a year or more give people a chance to get the account in order without rushing to make all the payments and take advantage of the low rates.

Cards That Revert To The Purchase Rate

People who want to take advantage of the lowest rates possible will probably be tempted by one or two 0% p.a.

Read more…