Low Interest Credit Cards

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

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Congress created the Small Business Lending Fund in September of 2010, with $30 billion to offer community banks for use in boosting small business lending. The American Bankers Association has sent a letter to the director of the Small Business Lending Fund with concerns over rejected applications. The program ends this month.

Deputy Assistant Secretary, Don Graves, announced on the Treasury Notes blog that $2.4 billion in funding had been distributed to 191 banks under this program.

The letter from the American Bankers Association was expressing concern regarding the number of banks who applied to the fund last year who are just now receiving rejection notices. They claim the rejections do not offer any details as to why the applications are being refused; and request that through the remaining days of the program that the Small Business Lending Fund provides more details for how the rejected banks can address concerns leading to the rejections; and ultimately be approved for funding.

Last month, The Independent Community Bankers of America, sent a letter to the Treasury Department with a request to roll out the approved funds faster.

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The blog lately has been spreading a lot of credit union love. And now I’m here to spread a little bank love. I think everyone should choose the financial institution that’s right for them. Here are five reasons why I’m sticking with my big bank and not jumping on the credit union bandwagon:

1. Location, Location, Location

One of the main reasons I picked my bank is that it’s accessible in any part of the country. When I graduated from college in my home state, I knew I’d be attending graduate school out of state. And I hadn’t a clue where I’d be going after that. It made the most sense to begin banking with an institution that would be available all over the country. My bank has 5,900 banking centers and 18,000 ATMs nationwide, so I’m all set whether I’m at home or traveling.

2. Open Membership

Unlike credit unions, banks don’t require that you fulfill certain membership prerequisites to join. You’ll likely be re

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Advanta Bank, the small business credit card issuer, was closed by state and federal regulators on Friday, according to the FDIC. The bank had been a shell of its former self for quite some time, having initially announced in May 2009 that it planned to shut down credit card accounts and in July, agreeing to settle charges that it had engaged in “unfair and deceptive practices.” Its parent company, Advanta Corp, filed for bankruptcy protection in November, and since then has essentially reduced its operations to collecting outstanding balances on its accounts and making payments to its investors.

With the bank’s seizure, the main question for the 360,000 outstanding accounts owing $2.7 billion is whether they will have an easier time renegotiating their payments with the FDIC as their creditor. Customers with questions about the closure can call the FDIC toll-free at 1-800-537-4048.