Obama Calls for Credit Card Reform
April 28th, 2009President Obama has already made transparency a key theme for his administration, and it’s clear he expects the same from leading companies in the credit card industry. Sitting at a long table surrounded by key executives from corporations such as American Express, Bank of America, Citigroup, and Capital One, Obama stated, “No more fine print, no more confusing terms and conditions. We want clarity and transparency from here on out” (The Washington Times). Has the moment finally come? More »
Posted By: Joshua Heckathorn | Comments (0)Credit Card Execs Prepare for Obama Beat Down
April 23rd, 2009The Obama administration has been largely silent about the credit card holder bill of rights since last year’s presidential campaign. However, a meeting scheduled for today with key executives from 14 major credit issuers suggests Obama is finally gearing up for an extended beat down that will have lasting effects on how credit card companies do business. More »
Posted By: Joshua Heckathorn | Comments (0)Enter to Win $500 from Creditnet.com!
April 20th, 2009
According to a study published by Nellie Mae (2005), 56% of undergraduate freshman obtain their first credit card at age 18. Unfortunately, most fail to receive any education about how credit works or what it takes to build a solid credit history after the card arrives in the mail More »
Posted By: Elisabeth Chan | Comments (1)Credit Card Fees Now Deductible When Paying Uncle Sam
April 14th, 2009
Have you avoided paying your tax bill with a credit card because you just couldn’t bear paying any more than you must to anyone on April 15th? I suspect many of you fall into this category, as do I. Even if the dollar amount is small, the thought of paying an additional 2.49% to cover the fee charged by credit card companies always makes me cringe. So, I continue to pull out the trusty checkbook, dust it off, and write one of the handful of checks I send out each year. More »
Posted By: Joshua Heckathorn | Comments (0)Suze Orman Changes Her Mind
April 7th, 2009The Queen of Personal Finance or Ugly Vests, whichever you prefer, recently shocked followers when she announced on the Oprah Show that it’s time for some people to finally give up on paying down nasty credit card debt and stash their cash instead. What? I’m sorry Suze, but you really blew it with this one. Paying the minimum balance on credit cards is now and always has been a poor financial decision. More »
Posted By: Joshua Heckathorn | Comments (5)
