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Based on the perceived value of what each card offers to the most people, plus the numbers of online visits to card offers, Capital One's Card Lab was ranked No. 1, according to IndexCreditCards.com, which researches and lists more than 1,200 online credit cards. Capital One's Card Lab allows consumers to pick and choose their own features such as interest rates and rewards or introductory rates on new purchases or balance transfers.
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A congressional panel turned the spotlight on what has been called "unfair" practices of credit card issuers yesterday. This is part of a broader regulatory effort to crack down on credit card practices that are deemed unfair to customers. Here's how you can fight back against rising interest rate fees.
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A cash register isn't just a place where you pull out your wallet to get cash or a credit card anymore. At a growing number of stores, it is becoming a place of opportunity to put some of that money back, in the form of instant discounts, shopping perks and savings that may otherwise pass you by -- if you only sign up for the store's own credit card that the sales clerk is soft-selling you.
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You can give yourself a respite by moving your balances to a card that charges 0% or another low introductory rate on balance transfers. To play this game, however, you have to keep tabs on the interest rate, your balance and the calendar. If the account isn't paid in full by the end of the introductory period, you may have to transfer your balance again to dodge an interest-rate spike.
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Because of episodes like this, discharged debts have attracted the attention of little-known firms expert at buying and selling a range of delinquent consumer obligations. Back-due bills with a face value of billions of dollars change hands at a steep discount every year. Five of the companies in this business are publicly traded on Nasdaq. Others have large private-money backers. B-Line, in Seattle, was acquired last year by the Dallas-based hedge fund firm Lone Star Funds. The investment bank Bear Stearns owns two bankruptcy-debt buyers: Max Recovery and eCast Settlement.
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The holiday season is just around the corner and you should be creating a holiday spending plan now. This is often the time when the budget that has been working fine for people all year gets completely blown, resulting in a pile of debt for the new year. According to the National Retail Federation, people will spend $474.5 billion this holiday season, an increase of 4% over last year.
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Do you give yourself free rein when it comes to holiday spending? Have you forgotten the founding fathers' stern visages because you charge everything to your credit card? With the U.S. economy showing signs of slowing and consumer spending skipping behind inflation, it's a good time to reevaluate spending habits and brace for some budgeting.
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The holidays are upon us, but you still have a couple of weeks to get your financial act together in 2007. Even if you've procrastinated all year (again!), you can still finish the year on a high note. As you check off each item in this list, your sense of accomplishment will grow and you'll gain confidence in your own ability to make smart financial decisions.
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To get the lowest rates on loans, you'll need a higher credit score next year. Put it this way: 750 is the new 720. The quickest way to boost your score? Pay down the balances on your credit cards and home-equity line of credit.
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Amid the troubles at banks of all sizes, this is a good time to review how deposit insurance works at banks, savings and loans and credit unions. While depositors tend only to consider the standard FDIC $100,000 limit on deposit insurance, things are not always so tidy.
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