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The Fine Print Behind Credit Card Rewards
Tweet Share on Facebook October 6, 2009 Comment (3)Today's guest post comes from Odysseas Papadimitriou, founder and chief executive officer of Evolution Finance, which is the parent company for Wallet Blog and Card Hub.
In the last year, 15 percent of American adults, or nearly 34 million people, have been late making a credit card payment. Additionally, the credit card default rate in 2009 was the highest it’s been since 1991. These days, many cardholders have no choice but to miss one or more of their credit card payments. However, what many consumers don’t realize is that by doing so, they may not only be damaging their credit score, but also sacrificing the benefits that their credit card reward programs offer.
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How to Rebuild Credit, Post-Bankruptcy
Tweet Share on Facebook October 5, 2009 Comment (2)Dear Alpha Consumer,
My wife and I just emerged from bankruptcy. Before that, we both had excellent credit scores and access to good credit cards with major lenders. Unfortunately, I've been laid off three times since 9/11 because of company downsizing, and we had to charge our health insurance COBRA payments and food and other essentials to our credit cards. We only started making late payments on the advice of our lawyer, who said we had to be late prior to filing for bankruptcy. -
Gwyneth Paltrow Offers Budgeting Advice
Tweet Share on Facebook October 2, 2009 Comment (3)In the current issue of her newsletter GOOP, Gwyneth Paltrow offers personal finance tips, ranging from how to beat inflation to how to stick to a budget. An article by fund manager Rod Rehnborg urges people to invest savings in vehicles that will earn more than the rate of inflation. Personal finance guru Lynnette Khalfani-Cox offers 10 tips on how to save more, including negotiating discounts, boosting your credit score, and taking a stopwatch on shopping trips. Khalfani-Cox writes:
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Frugal Living: Embedded in American History
Tweet Share on Facebook October 1, 2009 Comment (1)Lauren Weber grew up in a family that values frugality. Her father, in particular, avoids waste wherever he can: He uses tea bags up to a dozen times and keeps the thermostat tuned to an almost-frigid 50 degrees. That experience inspired Weber to write In Cheap We Trust: The Story of a Misunderstood American Virtue, that challenges the idea that being "cheap" is a bad thing, or something shameful. She looks to American history, as well as contemporary culture, to show that frugality is thriving, and popular. While we might not use earwax as lip balm, as one thrifty writer recommended in the 1800s, other creative techniques, such as dumpster diving for food, are alive and well. Here are excerpts from my recent conversation with Weber:
