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You Can Now Tell Me What Credit Card To Use?

On Monday, the Justice Department sued Visa, MasterCard, and American Express for anticompetitive practices. At the same time, it reached a proposed settlement with Visa and MasterCard. The ruling aims to end anticompetitive practices and allow customers to save money, but it is likely to also have unintended consequences for consumers, says LowCards.com. (source: www.ctwatchdog.com) Interchange Fee is Confusing Interchange fees, or swipe fees, are difficult to understand, and credit card processors like Visa, MasterCard and American Express have provided very little information about these fees, protecting their control and this significant revenue source. (source: www.ctwatchdog.com) Interchange fees began in the 1960s to help banks to cover the cost of processing credit card transactions. The fee is divided between the merchant’s bank, the consumer’s bank and the credit card company. The fee covers processing fees, billing statements, fraud protection, innovations, and other expenses. (source: www.ctwatchdog.com) Interchange fees typically range between 1.0% and 3.5% of every purchase made with a credit ...

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Should You Use A Debt Relief Program

Over the past several months, we have received request from many of our subscribers to get some information about the various debt relief programs that advertise on television and the internet. Since some of these programs can be scams and some are legitimate, it is important you take the appropriate steps to find the right program just for you. Here are some thoughts on choosing a program that may be right for you. 1) What solutions does the company provide? Different companies or non-profits are skilled a various debt relief/settlement programs. You need to consider the size of debt you are trying to negotiate down and what type of debt you are looking to reduce overall.  Recognize that many of the credit card companies won’t even talk with you while you are still on the preverbal stationary bicycle still making minimum monthly payments.  Some companies do debt consolidation, some debt negotiation/settlement, and some will deal with IRS debt as well. ...

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Pay Off Credit Cards Or Save For Retirement?

You just turned 30 years old, and are still have credit card debt hanging over your head.   While you were out partying and paying off student loans during your 20’s, you realize that you haven’t saved a nickel for retirement.   The debate begins in your head.   Do I pay off the $10,000 of credit card debt or do I save the maximum I can in my 401(k)? The Dave Ramsey’s of the world would always say to pay off debt first before saving in a 401(k).  These are the personal finance situations where I don’t agree with a Dave Ramsey because it really does depend on your personal situation. The first thing I would look at is whether your company offers a 401(k) plan that has a match.  For example, if you put away 6% of your salary and your company matches 3% it would be an instant 50% return on your money if you stay with your company long ...

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