WalletPop Wire

Walmart: Who shops there?

Madhusmita Bora Nov 12th 2009 @ 6:00PM EST Filed Under: Shopping

Everyone loves to hate Walmart. So, who shops there and makes it the Goliath that it is?
Is it shoppers like the ones you see in this video posted by peopleofwalmart.com?

The site claims to be a "satirical social commentary of the extraordinary sights" found at Walmart. Judging by the user-submitted photos on the blog, you would think Walmart only caters to a special kind of demographic. But really, is it only people with absurd outfits, strange body art and outdated hairdos that constitute the discount giant's core clientele? Or is Walmart more inclusive than that?

Continue reading Walmart: Who shops there?

Despite cost, homeowners prefer mortgages to landlords

Jennie L. Phipps Nov 12th 2009 @ 5:30PM EST Filed Under: Real Estate

In my Detroit-area neighborhood, there are almost no homes for sale. Out of more than 1,000 homes in a two-mile area there are probably only a half-dozen on the market.

Yes, you read that right. Downtrodden Detroit, Michigan, where real estate set new records for declines has neighborhoods where you can hardly buy a house because they've all been sold.

Seeing this makes me feel better about being a homeowner, even though the market value of my home has fallen. It gives me confidence in the opinion that I have long held -- that owning a home is smart.

A survey this week from Move.com suggested that home sales are up everywhere. According to the survey, nearly 10% of consumers nationwide say they plan to buy a home in the next two years, with 5.4 % planning to purchase in the next 12 months. Buyers say they are motivated by these factors:

Continue reading Despite cost, homeowners prefer mortgages to landlords

Black Friday: Debit card 'don'ts'

Gina Roberts-Grey Nov 12th 2009 @ 5:00PM EST Filed Under: Debt, Black Friday, Economizer, Credit cards

Even though the most recent consumer credit reports show credit card debt is declining, consumer's debit cards are getting quite a workout. Debit card transactions recently surpassed credit card transactions for the first time ever.

Experts are forecasting debit card transactions to surge even further past their credit card siblings on Black Friday -- and caution that consumers need to be cautious when wielding their debit cards this holiday shopping season.

"Consumers are trying to keep their credit card balances low," said Carrie Coghill Kuntz, spokeswoman for CreditFYI.com, in an interview with WalletPop. "So many are using debit cards."

Continue reading Black Friday: Debit card 'don'ts'

Light cigarettes won't help you kick butts

Gina Roberts-Grey Nov 12th 2009 @ 4:30PM EST Filed Under: Health

Looking to quit smoking? Don't look to "light" or low-tar cigarettes as a way to lessen your dependency or kick the habit.

A study has found smokers who use light and low-tar cigarettes don't quit, citing a 50% lower chance of giving up smoking.

The research from the University of Pittsburgh, published in the November issue of Tobacco Control, analyzed survey data from about 31,000 smokers who were asked whether they had switched to a milder or low-tar brand of cigarettes and if they had, what were the reason(s) for the switch.

Continue reading Light cigarettes won't help you kick butts

Intuit exec explains what Quicken users can expect from Mint.com

Josh Smith Nov 12th 2009 @ 4:00PM EST Filed Under: Banks, Budgets, Technology

When Intuit, the makers of popular personal finance software Quicken, purchased Mint.com for $170 million, users of both services expressed concerns about the future of their favorite financial tool.

After it became clear that both Mint and Quicken Online would remain free, the only real question left was, "Which service would remain standing after the purchase was complete?"

Last week TechCrunch broke the news that Aaron Patzer, the new vice president and general manager of Intuit's Personal Finance Group at Intuit, would be closing down Quicken Online within six to nine months and migrating users to Mint.com.

Continue reading Intuit exec explains what Quicken users can expect from Mint.com

Lender BlueHippo slammed by FTC for allegedly collecting $15 million in exchange for nothing

Mitch Lipka Nov 12th 2009 @ 3:30PM EST Filed Under: Credit, Shopping, Technology, Consumer Ally

BlueHippo.com, which markets itself as a way for the credit-challenged to buy a new computer and other electronics, has been ripping off its customers and should be ordered to stop, the Federal Trade Commission told a federal judge today.

"BlueHippo is a company with a business model based on deceipt," FTC Chairman Jon Leibowitz said in a statement. The company is also allegedly operating in violation of a 2008 agreement to settle a previous case brought by the FTC.

Among its complaints, the FTC says BlueHippo took in $15 million under the guise of financing computer purchases for their customers, but it neither provided the financing nor the computers. Fewer than 1 percent of customers received what they signed up for, the FTC said.

A call to BlueHippo's designated phone number for the media rolls into a voice mail that doesn't accept messages. And a call to their spokesman at the Washington, D.C. offices of an international public relations firm was not immediately returned.

Continue reading Lender BlueHippo slammed by FTC for allegedly collecting $15 million in exchange for nothing

Watch videos and earn $5 coupon at Rite Aid

Julia Scott Nov 12th 2009 @ 3:30PM EST Filed Under: Bargain Babe

Rite Aid is pushing its video ads. Watch 20 of them and get a coupon for $5 off your next purchase of $20 or more.

Each video is worth one video credit. You watch the video, then it credits your account. Plus, each video comes with a $1 to $3 off coupon for the product advertised. You can print it by logging into your Rite Aid video account and clicking on "My Rewards."

You can view video ads by brand, category, or manufacturer. Rewarding customers for watching video ads is a savvy move by Rite Aid because video ads are expanding much more quickly than other forms of online advertising. They also pay a lot better than banner ads.

Who knows if it will pay off for consumers. I earned one credit for watching a 33-second Snuggie ad. There are snuggies for pets! Not that I would ever buy a snuggie, though I think it would make a great Halloween costume.

To ensure you watch the video, it stops playing when you click on another tab. So I wasn't able to check my e-mail while earning my Snuggie video credit. Another video was 15 seconds long, a third video was 32 seconds.

If each video averages 30 seconds, that is 10 minutes of your time to earn $5 off. Not too shabby!

Fed expects higher interest rates for consumer credit cards

Lita Epstein Nov 12th 2009 @ 3:15PM EST Filed Under: Credit, Credit cards

Banks continue to take advantage of the waiting period for the CARD Act to lower credit limits, increase interest rates, and raise the minimum credit scores required for a credit card during the past three months, according to the quarterly survey released this week by the Federal Reserve.

This survey of loan officers also found 75% of banks that make credit card loans do not expect to be compliant with the provisions of the legislation until February 2010, the month these reforms go into effect.

Continue reading Fed expects higher interest rates for consumer credit cards

Worried about the national debt? Donate money to pay it down!

Zac Bissonnette Nov 12th 2009 @ 3:00PM EST Filed Under: Tax

With the national debt growing at a frantic pace, a lot of Americans are terrified about what it will mean for our economic futures.

Luckily, you can help. CNNMoney senior writer Jeanne Sahadi reports that under an obscure 1961 law, you can make tax deductible contributions to help pay down the national debt. On average, about five donations are made per week and so in 2009, there have been just over $3 million in donations -- whose impact was quickly reversed by government spending on just 666 clunkers under the Cash For Clunkers program (funny how that math works out, just sayin').

Continue reading Worried about the national debt? Donate money to pay it down!

The elusive Zhu Zhu Pets faux hamsters showed up at major retailers on Sunday and disappeared from most shelves before the morning ended. Such is the life of the hot toy of the year -- following the likes of Furby and Tickle Me Elmo in the annals of toys whose scarcity was part of their allure. Read all about it here.

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