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Bank Transfer Day: Over 77,000 Strong

Tomorrow, Nov. 5th, is Bank Transfer Day.  I honestly didn't realize how large a movement this was until I checked out their Facebook page today. Not only do they have over 40,000 likes, but over 77,000 people have indicated they plan on participating in the event by moving all their money from for-profit banking institutions to not-for-profit local credit unions by tomorrow. That's a big number!  Credit Union executives must be drooling all over themselves.

Creditnet's Celebrity Wedding Cost Match-Up Game

Think you know what some of the world's most famous couples have spent on their weddings? If so, test your celebrity wedding prowess today by playing Creditnet's Celebrity Wedding Cost Match-Up Game.

Ask Creditnet: Which Debt Should I Pay Off with a Balance Transfer?

paying credit card bills Dear Creditnet: I was recently approved for a zero interest credit card with a $3,500 credit limit. The zero interest promotion lasts for the first 12 months. I’m looking to put the first $1,000 to great use by either paying off balances on 2 high-interest credit cards totaling $800 with monthly minimum payments of $20, or by paying off the balance on a $1,150 auto loan with monthly payments of $165. I'm not sure which will boost my credit score the most. Can you answer this?

Ask Creditnet: Best Travel Rewards Business Credit Card

Dear Creditnet: I run several small businesses and am looking for the best travel rewards business credit card. I plan to spend a few thousand per month on each card and the balances are expected to always be paid in full. What do you suggest?

Southwest Rapid Rewards Plus Card: 50,000 Bonus is Back!

I reviewed the latest version of the Southwest Rapid Rewards Plus credit card just over a month ago.  If you missed it, my main point in that review was if you could manage to wait for a better offer to come along from Southwest later this year, then you should. Well, I love it when I'm right!

Citi ThankYou Preferred Card Review: 50,000 Bonus Promotion

 

*Update* Oct. 24th, 2011: This card offer is no longer available.  Check out the current details of the Citi ThankYou Preferred Card instead. For those of you that have absolutely no interest in shelling out a $125 annual fee for the Citi ThankYou Premier Card, Citi just launched a new credit card offer last week that you probably won't find in your mailbox or many other places online.  Here's a quick overview of the card if you happen to be in the right financial place to take advantage of a great signup bonus this Fall. The Citi ThankYou Preferred Card provides new cardholders with the opportunity to earn up to 50,000 bonus ThankYou points during the first year of use.  That's worth up to $500 in gift cards via the ThankYou network or perhaps even more if you redeem the 50,000 points for travel.  In order to get the full 50,000 bonus points, you'll have to meet the following two requirements:

Steve Jobs is Dead at 56

I just hopped on apple.com to check out the new specs on the iPhone 4S.  I was surprised when the first image I saw was the one above with the text, "Steve Jobs 1955-2011." When I clicked on his picture the following text was revealed:

Crazy Credit Card Art

Most people simply cut up their expired credit cards and throw the pieces in the trash. But that’s just so… boring! Why not make something truly incredible with your old credit cards? Here's some inspiration from Los Angeles-based artist Cain Motter, who uses credit cards as his medium for making incredible, thought provoking works of art.

Why Credit Counseling Won't Hurt Your Credit Scores

[caption id="" align="aligncenter" width="450" caption=" "]debtPhoto by Alan Cleaver[/caption]

It's a common misconception that entering a credit counseling program will ruin your credit scores.  Unfortunately, this misunderstanding scares thousands of consumers away from a service they could really benefit from using before their credit problems get out of control.

It's easy understand why a lot people believe this credit myth, since it makes sense that meeting with a counselor indicates you might be experiencing difficulty with your credit and need guidance.    If I were lending you money, like a credit card company does, that would worry me too.

Fed's Operation Twist Won't Affect Credit Card Rates

Federal Reserve The Fed didn't raise interest rates yesterday, but it did announce its next attempt to give our lumbering economy a much-needed kick in the butt. Dubbed "Operation Twist", the Fed aims to lower long-term interest rates by selling about $400 billion in short-term government bonds and then using that money to purchase longer-duration bonds like mortgage-backed securities.  The name stems from a similar Fed effort back in 1961 when Chubby Checker's song "The Twist" was at the top of the charts.  It kind of worked back then, so the Fed is hoping for the best this time around.

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