Credit Card Swipe Fee Debate: Fair or Foul?
Updated: 2011-09-30 21:00:37
: Credit Card Swipe Fee Debate : Fair or Foul by Mindy Matter on September 30, 2011 Each time you use any type of plastic in the store , the retailer has to pay a fee to the credit card processor . Banks say it’s only fair . Merchants say the fees are excessive . Two writers on MoneyTalks News recently had a written debate about the . issue Writer Jason Steele said merchant swipe fees are fair for several reasons . He suggests they’re optional . If merchants don’t like them , they can simply choose not to accept credit cards . He goes on to say that the benefits of accepting cards make the fees worth it . Additionally , he believes these charges are worth it because they allow consumers to earn rewards He finished his argument by suggesting that even if fees were lowered , retailers
Bigger Bonuses With Rewards Cards Being Offered By Card Issuers by Pete Lindley on September 30, 2011 Credit card companies are doing what they can to entice consumers these days , and among the perks are bigger bonus rewards than ever . Chase Freedom Visa for example , offers 200 in cash back just for spending 500. These offers are only going to customers with great credit scores , a big prize for banks these days . As you try to weigh your options , you may want to consider the . following Think about the rewards being offered . They’re not all as good as they seem , so you’ll need to do some comparison shopping to find the best . one Don’t forget to consider the fees associated with the card . Annual fees can be quite high , and if you don’t think you’ll use the perks that frequently ,
The first year of college for many freshman means getting their first student credit card. While the Credit CARD Act of 2009 severely restricts handing out plastic to those under 21, you can get a card if your parent co-signs on the card or if you can prove that you have the income to pay the bills. Your first credit card can be a great personal finance tool, but can also bring disaster if used recklessly.
A college student I know recently asked me if I had some tips for using his first credit card, so I thought I would share my ideas here as well. And for more money and credit advice, check out 10 of my favorite blog posts from personal finance bloggers from the past week.
When I filled my car up with gas recently, I saved 11 cents per gallon off the current market price by using a retail store gift card.
That's a good deal.
Several retailers around the country are offering similar deals to drive traffic to their stores. It's apparently working as family budgets are being stretched more and more with the bad economy.I applaud them. But can they make them reloadable for it's easier on the environment?
On Wednesday evening at sundown, the Jewish holiday of Rosh Hashana began. It's considered the Jewish new year, and its name translates to "head of the year." I was raised Jewish, and while I no longer actively practice, I remember enjoying this annual celebration.
Rosh Hashana kicks off a series of 10 days that are intended for self-reflection.
A common custom on Rosh Hashana is to eat apples dipped in honey. It's a great way to look forward to a sweet new year. Here's my weekly roundup of favorite personal finance tips from around the blogosphere.
: Living with credit 408 New , interesting products 96 Research , regulation , industry reports 228 Rewards 38 Protecting yourself 156 The fine print 65 Credit card miscellany 369 Add category 1 Celebrity Money Watch 3 Print Email Emily's list : The Biggest Loser' edition Emily Starbuck Gerson September 23, 2011 Living with credit I've been a fan of the TV show , The Biggest Loser , for several years . I love watching people transform their unhealthy habits into a positive lifestyle . It's tragic that the easiest and cheapest food to obtain , such as pizza , burgers , ice cream and chips , are also the worst for . you Initially , the people on the show think that eating healthy is unexciting and expensive . I'm not going to lie it can be , but it doesn't have to be . Some of them just
It's no shock that during the devastating economic downturn, a lot of people went from good credit to bad, as job losses and foreclosures took their toll. But here's a surprise: According to FICO data, the number of people with excellent credit didn't fall during the recession -- it grew."Many people seem to think that everyone's FICO score must be down these days. However scores have moved in both directions," says Rachel Bell, senior director of global scoring solutions for FICO.
A recent survey by America's Research Group reveals that while 82 percent of U.S. shoppers may rein in their holiday spending a bit compared to last year, more consumers will be avoiding brick-and-mortar stores and placing their orders online.
: , Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans Memo to Obama : Push for Jobs , Don’t Shove Employers by Adam Levin on 09 29 2011 The American Jobs Act provides yet another example of President Obama potentially snatching defeat from the jaws of victory . It proposes a punitive response to a problem that now plagues the country—employers are hesitant to hire the long-term unemployed . The missed opportunity is still there to be had : How about providing incentives At issue is the Job Act’s proposal to make it an unlawful employment practice” to refuse employment because of the individual’s status as unemployed ,
: Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans Reader Question : Can A Debt Collector Report An Old Debt As New by Gerri Detweiler on 09 29 2011 A reader filed for bankruptcy and included a cell phone debt . Now he’s being contacted by a collection agency that’s threatening to report the debt as a new account if he doesn’t pay . What are his rights Q : About seven years ago , when I lived in California , I co-signed for a T-Mobile account for a friend . She stopped paying after running a bill up to 2000. I filed Chapter 7 bankruptcy and included my T-Mobile account . My debt was discharged in March of 05. I reviewed
: Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans Around the Web : From Complaint Tweets to Halloween Savings by Beverly Blair Harzog on 09 29 2011 For your reading pleasure , I’ve put together a few of my favorite personal finance blog posts from this week . Hey , it’s Thursday and I think that’s reason enough to take a quick break from your routine and check out these . posts The Consumerist : Tweet Gets Citi to Stop Junk Mail Deluge Facebook may be primed for world domination , but never doubt the power of a tweet . A consumer , Dan , and his wife were getting tons of junk mail from Citi when Dan decided to take his
: Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans The Newest Mortgage Scam : Forensic Audits by Christopher Maag on 09 29 2011 Antonio Ocegueda and his wife Ines have a lot wrapped up in their house , a beige ranch in Union City , California . Antonio supervises a commercial landscaping company over forty percent of his income every month goes toward pay off the 370,000 mortgage . His wife stays home to provide 24-hour care to their daughter , who has Down . Syndrome In 2009, the Oceguedas wanted to modify their mortgage , looking for a lower interest rate so they could pay the loan off faster . Antonio heard an
: , Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans The Debt Diet Challenge Week 11 : DIY Repairs , Still Focused on Paying Down Debt by Credit.com on 09 28 2011 This is our weekly installment of The Debt Diet Challenge , in which we follow the progress of participants selected to take Jean Chatzky’s Debt Diet as they work to get themselves out of debt and on track to a better financial future Every week , the participants blog about their experiences with the program . Here are their latest dispatches Penny This past week we struggled a little due to my forgetting about an auto payment coming out . I was down to 13.00
: Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans Study : Most People Just Don’t Care About Mobile Banking by Christopher Maag on 09 28 2011 Many people in the banking industry are very excited about mobile banking . At conferences , in reports and in news articles for industry insiders , there is near monolithic agreement that within a few years everybody will be banking using their . smartphones There’s just one small group that isn’t convinced : The overwhelming majority of . consumers Lightspeed Research recently asked 10,000 people whether they believed having the ability to manage their finances on their mobile
Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans Credit Scores Remained Stable Through Recession by Tom Quinn on 09 28 2011 Given the seemingly daily notice of bad news about the current status and near-term outlook of the U.S . economy , one could logically assume that consumers’ credit scores have also experienced a corresponding . downturn A recent study published by FICO shows this is not the case . In fact , their report illustrates that the distribution of FICO scores for the U.S . population has remained relatively stable between 2005-2011. It seems a bit counter-intuitive at first glance , but it makes sense
Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans Student Cards with Cash Bonuses by Beverly Blair Harzog on 09 28 2011 As one who reviews a lot of credit cards each month , I know how time consuming it can be to sift through terms and conditions in search of the right card . For busy college students , this is time that could be better spent elsewhere . Here , I’ve listed out some student credit cards that are offering cash bonuses to new cardholders , along with few blurbs about each . If you’re interested in a card , just click on the title and my detailed review will show . up All of these cards require a
Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans Posts Credit counseling by Emily Peters on 10 03 2005 The Washington Post reported today that more and more credit counselors are having their non-profit status revoked by the IRS . 1 comment by Emily Peters on 10 03 2005 Business owners and ID theft by Emily Peters on 10 03 2005 The Association of Certified Fraud Specialists recently held a conference to discuss new trends in identity theft . The fastest growing 0 comments by Emily Peters on 10 03 2005 Don’t belive the rumors by Emily Peters on 09 29 2005 It’s a common rumor one that simply will not be put to rest the
Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans Regulators Won’t Wait for Banks to End Too Big to Fail” by Christopher Maag on 09 27 2011 The phenomenon of banks that are too big to fail” must end , and the government isn’t waiting for the banks to end it , a federal regulator told a group of top bankers last week . Martin Gruenberg , acting director of the FDIC , said that his agency doesn’t have to wait until banks are ready with their living wills , 8221 which give detailed plans for how to break up their companies should they . fail Instead , the agency has the power to begin planning for such big breakups now ,
Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans Need a Payday Loan Why Not Try a Bank by Christopher Maag on 09 27 2011 For years , advocacy groups have bemoaned the steep fees and high interest rates of payday loans , which regularly wind up costing consumers a whopping 400 in interest every year With so much money to be made , many advocates wonder why banks haven’t tried to compete with loans of their own , which would offer them increased profits while giving consumers better loans from more reputable . institutions The answer , apparently : Banks simply don’t want to . In testimony before Congress this week , two
Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans Good Debt Versus Bad Debt by Gerri Detweiler on 09 26 2011 You’ll hear some high-profile personal finance experts say that debt is bad debt . Others clearly separate good debt from bad debt with traditional axioms student loans and mortgages are good debt credit cards are bad debt The truth may lie somewhere in between . Debt can be a tool that can be used in good or not good ways . Here’s how to know which is : which Credit Cards Usually seen as bad debt , believe it or not , there are times when credit card debt can be viewed as good debt . For example , if your washing
Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans Startups to Guide Your Financial Future by Christopher Maag on 09 24 2011 Right now , many people in the banking industry are trying to figure out how to get you to talk to them online . The benefits to financial institutions are pretty obvious . Online interaction helps them build brand awareness and loyalty among consumers . It saves them money because fewer people go to physical banks and talk to human beings , who require paychecks . It helps them leverage” bankers love this word data about our purchases and our social media interactions to send us offers for products
: , Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans Scam Everlasting : After 25 Years , Debunked Faith Healer Still Preaching Debt Relief Scam by Christopher Maag on 09 21 2011 If you’ve ever channel surfed late into the night , you’ve probably seen Peter Popoff . He’s a televangelist who looks the part , with hair the color of black shoe polish , teeth as white as light bulbs , and a voice that manages to be screeching , nasal and guttural at the same . time God is touching hurting people around the world , 8221 Popoff says in a recent video on his website , sitting in a wingback chair beside his wife , Elizabeth .
: Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans Marketing Credit Cards to College Students : How the CARD Act Changed the Game by Beverly Blair Harzog on 09 21 2011 It’s fall and students are back at college soaking up vast amounts of knowledge . At least that’s what the parents think , right One thing we can be sure of , though , thanks to the Credit CARD Act of 2009, is that students now enjoy more consumer protections . The Act restricts credit card issuers from giving a credit card to anyone under the age of 21 unless they can prove they have enough income to repay credit card debt . If not , a credit card can’t
: Follow Us Frontpage Topics Editorial Staff Archives Subscribe Credit.com Credit Cards for Excellent Credit Credit Cards for Good Credit Credit Cards for Bad Credit Secured Cards Prepaid Cards Credit Reports Personal Loans BillGuard : We are Smarter than Me by Mark Frauenfelder on 09 20 2011 What do you do when you notice an unusual transaction on your credit card If you’re like most people , you call the credit card company to complain . If you’re really worked up about it you might also post a rant on one of those bitch board web sites where people complain about fraudulent or otherwise sneaky credit card . charges But those sites don’t really do much good , other than let you blow off some steam . The parties responsible for double charges , unauthorized recurring subscription charges