WalletPop Blog http://www.walletpop.com/blog WalletPop Blog http://www.walletpop.com/blog/media/feedlogo.gif WalletPop Blog http://www.walletpop.com/blog en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/Citigroup holds its customers hostagehttp://www.walletpop.com/blog/2009/11/20/citigroup-holds-its-customers-hostage/http://www.walletpop.com/blog/2009/11/20/citigroup-holds-its-customers-hostage/http://www.walletpop.com/blog/2009/11/20/citigroup-holds-its-customers-hostage/#commentsFiled under:

Across the nation, Citibank credit card holders are receiving what pretty much amounts to a ransom note: We're going to raise your rates, says the letter, in so many words, but if you spend more money, we won't.

In more specific terms, customers are being asked to spend a minimum of $750 on their cards, and if they do, they can get a rebate for 50% to 100% of their interest rate for that given month.

I can't blame anyone for wanting to implode on the spot. After all, credit cards as a group used to encourage everyone to spend, until the recession came around, when the message seemed to be -- please don't spend, and if you spend, don't spend much. But now the credit cards are encouraging spending.

And if you don't, they'll raise your rates.

Madness.

But there's a reason behind it. Ben Woolsey, director of consumer research for CreditCards.com, told the Huffington Post that Citigroup, which is Citibank's parent company, by convincing people to spend more, will cause there to be more interchange fees -- those are the fees merchants have to pay every time a customer uses a credit or debit card. And so Citigroup will make more money through interchange fees, or through the higher interest rates.

Continue reading Citigroup holds its customers hostage

Citigroup holds its customers hostage originally appeared on WalletPop Blog on Fri, 20 Nov 2009 19:00:00 EST. Please see our terms for use of feeds.

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]]>Citigroupcredit cardsCreditCardsinterest ratebanksInterestRatebanksGeoff WilliamsFri, 20 Nov 2009 19:00:00 ESTNew York returns money to 14,000 payday loan customershttp://www.walletpop.com/blog/2009/11/17/new-york-returns-money-to-14-000-payday-loan-customers/http://www.walletpop.com/blog/2009/11/17/new-york-returns-money-to-14-000-payday-loan-customers/http://www.walletpop.com/blog/2009/11/17/new-york-returns-money-to-14-000-payday-loan-customers/#commentsFiled under: ,

Going to a payday lender can be a good financial decision. That is, if your Attorney General threatens to sue your payday lender, and they settle up, and then you receive your money back.

New York Attorney General Andrew M. Cuomo has just announced a $5.2 million settlement with two companies running "payday loan" companies.

Cuomo's office will be sending money to more than 14,000 victims. You may be one of those victims if you live in New York and have ever taken out a small loan with the businesses, Telecash or Cashnet.

Continue reading New York returns money to 14,000 payday loan customers

New York returns money to 14,000 payday loan customers originally appeared on WalletPop Blog on Tue, 17 Nov 2009 16:00:00 EST. Please see our terms for use of feeds.

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]]>Cashnetpayday lendingpayday loansPaydayLendingPaydayLoansTelecashGeoff WilliamsTue, 17 Nov 2009 16:00:00 EST10 ways credit card companies can still mess with you and your moneyhttp://www.walletpop.com/blog/2009/11/16/10-ways-credit-card-companies-can-still-mess-with-you-and-your-m/http://www.walletpop.com/blog/2009/11/16/10-ways-credit-card-companies-can-still-mess-with-you-and-your-m/http://www.walletpop.com/blog/2009/11/16/10-ways-credit-card-companies-can-still-mess-with-you-and-your-m/#commentsFiled under:

How evil is the credit card industry these days? Pretty evil, I'd say.

I thought I'd call attention to The Business Insider, which has an amusing -- and unfortunately true -- story on the 10 ways credit cards can still screw you. Well, it's amusing, in the way that being run over by a car is amusing. Perhaps the people making up the credit card rules used to work in the waterboarding department of the defense department. That's my working theory, anyway.

Continue reading 10 ways credit card companies can still mess with you and your money

10 ways credit card companies can still mess with you and your money originally appeared on WalletPop Blog on Mon, 16 Nov 2009 16:30:00 EST. Please see our terms for use of feeds.

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]]>credit cardsCreditCardsGeoff WilliamsMon, 16 Nov 2009 16:30:00 ESTHow many mistakes can really hurt your credit scorehttp://www.walletpop.com/blog/2009/11/16/how-much-mistakes-can-really-hurt-your-credit-score/http://www.walletpop.com/blog/2009/11/16/how-much-mistakes-can-really-hurt-your-credit-score/http://www.walletpop.com/blog/2009/11/16/how-much-mistakes-can-really-hurt-your-credit-score/#commentsFiled under: , ,

This isn't quite the falling of the Berlin Wall, but in the credit scoring world, it's close. Apparently, for the first time ever, FICO, the company that has its famed credit scoring model, has released details on how a financial goof-up actually affects your credit score.

First, before I go on, credit for making credit scores a little less mysterious goes to Liz Pulliam Weston, a prolific and well respected columnist with MSN Money. She asked FICO for details on how they determine how late fees, bankruptcies, foreclosures and so on affect one's credit score, and they decided to actually be upfront about it. Or at least more upfront than they used to be.

Every time you make a financial mistake, these are known as "damage points." And the higher credit score, the more points these mistakes will cost you, which is interesting. In other words, the slide descending into bad credit can be faster and more pronounced than someone already on their way down.

Continue reading How many mistakes can really hurt your credit score

How many mistakes can really hurt your credit score originally appeared on WalletPop Blog on Mon, 16 Nov 2009 15:30:00 EST. Please see our terms for use of feeds.

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]]>credit scoresCreditScoresFICOGeoff WilliamsMon, 16 Nov 2009 15:30:00 ESTWant to pay down the national debt? Here's where to send your checkhttp://www.walletpop.com/blog/2009/11/16/want-to-pay-down-the-national-debt-heres-where-to-send-your-ch/http://www.walletpop.com/blog/2009/11/16/want-to-pay-down-the-national-debt-heres-where-to-send-your-ch/http://www.walletpop.com/blog/2009/11/16/want-to-pay-down-the-national-debt-heres-where-to-send-your-ch/#commentsFiled under:

national debtFor years, I've wondered if anyone ever just sent the government money and said, "Here, apply it to the national debt." After all, our national debt's a big problem, and if you're the charity-giving sort, you might want to make the United States your charity.

And then Reuters goes along and does a story about people who do just that. As it turns out, there's a government office that will be more than happy to take your check, should you decide your pet cause this year is going to be the United States' debt.


Continue reading Want to pay down the national debt? Here's where to send your check

Want to pay down the national debt? Here's where to send your check originally appeared on WalletPop Blog on Mon, 16 Nov 2009 15:00:00 EST. Please see our terms for use of feeds.

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]]>Bureau of the Public DebtBureauOfThePublicDebtnational debtNationalDebtGeoff WilliamsMon, 16 Nov 2009 15:00:00 ESTOfficially, the overdraft bank fee nightmare is almost overhttp://www.walletpop.com/blog/2009/11/13/officially-the-overdraft-bank-fee-nightmare-is-almost-over/http://www.walletpop.com/blog/2009/11/13/officially-the-overdraft-bank-fee-nightmare-is-almost-over/http://www.walletpop.com/blog/2009/11/13/officially-the-overdraft-bank-fee-nightmare-is-almost-over/#commentsFiled under:

The Federal Reserve announced on Thursday that starting July 1, 2010, financial institutions can no longer allow customers to overspend their account and then charge overdraft fees -- in most cases -- unless the customers have signed up for a bank's overdraft protection plan that includes such fees. My guess is, most won't.

As The Washington Post explains, the overdraft fee won't disappear entirely. Banks can still charge overdraft fees on checks or an automatic bill payment. But the days of buying a cup of coffee or stick of gum with your debit card without realizing you don't have the funds and then getting slammed with a $37.50 fee--that will end on July 1, 2010. Instead, you'll simply have your debit card declined. And if that thought truly embarrasses you, then tell your bank you want that overdraft protection.

Continue reading Officially, the overdraft bank fee nightmare is almost over

Officially, the overdraft bank fee nightmare is almost over originally appeared on WalletPop Blog on Fri, 13 Nov 2009 13:00:00 EST. Please see our terms for use of feeds.

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]]>banksoverdraft feesOverdraftFeesGeoff WilliamsFri, 13 Nov 2009 13:00:00 ESTBe careful opting out of your credit card's new interest ratehttp://www.walletpop.com/blog/2009/11/12/if-you-opt-out-of-your-credit-cards-new-interest-rate-be-caref/http://www.walletpop.com/blog/2009/11/12/if-you-opt-out-of-your-credit-cards-new-interest-rate-be-caref/http://www.walletpop.com/blog/2009/11/12/if-you-opt-out-of-your-credit-cards-new-interest-rate-be-caref/#commentsFiled under:

credit cardsYou can opt out of that insane credit card interest rate -- but be careful out there.

That's the premise of a clever article at CreditCards.com, which takes a unique look at opting out of your credit card. As Tamara E. Holmes points out, the Credit CARD Act of 2009 allows people to avoid higher payments by refusing to accept the new interest rate. But by opting out, you still have to pay the remaining balance, and your credit card is still active. And because of that, if you aren't careful and wind up making a purchase, your carefully protected interest rate could wind up shooting up to the one you opted out of.

It's a little like having a time bomb in your wallet.

Continue reading Be careful opting out of your credit card's new interest rate

Be careful opting out of your credit card's new interest rate originally appeared on WalletPop Blog on Thu, 12 Nov 2009 14:00:00 EST. Please see our terms for use of feeds.

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]]>credit cardsCreditCardsCreditCards.comGeoff WilliamsThu, 12 Nov 2009 14:00:00 EST7-Eleven now has its own wine (Don't forget to ask for a brown paper bag)http://www.walletpop.com/blog/2009/11/10/7-eleven-now-has-its-own-wine/http://www.walletpop.com/blog/2009/11/10/7-eleven-now-has-its-own-wine/http://www.walletpop.com/blog/2009/11/10/7-eleven-now-has-its-own-wine/#commentsFiled under:

7-eleven wineSomething to jot down the next time you're in the mood for a drink and don't have a lot of cash: 7-Eleven now has its own brand of wine.

The name of the label is Yosemite Road. They're selling a chardonnay and a cabernet sauvignon, and both will retail for about $3.99. It'll be $4.99 in Florida, due to state taxes.

Continue reading 7-Eleven now has its own wine (Don't forget to ask for a brown paper bag)

7-Eleven now has its own wine (Don't forget to ask for a brown paper bag) originally appeared on WalletPop Blog on Tue, 10 Nov 2009 17:00:00 EST. Please see our terms for use of feeds.

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]]>7-ElevenwineGeoff WilliamsTue, 10 Nov 2009 17:00:00 ESTWhat to tell your bank when they say something you don't want to hearhttp://www.walletpop.com/blog/2009/11/10/what-to-tell-your-bank-when-they-say-something-you-dont-want-to/http://www.walletpop.com/blog/2009/11/10/what-to-tell-your-bank-when-they-say-something-you-dont-want-to/http://www.walletpop.com/blog/2009/11/10/what-to-tell-your-bank-when-they-say-something-you-dont-want-to/#commentsFiled under: ,

bank windowThere's a lot of public anger at banks these days. Pick a bank topic, any topic -- bailouts, executive pay, interest rates, ATM, NSF, overdraft fees -- and it's hard to imagine anyone nodding happily. But all this anger begs the question: When we're frustrated and being thwarted by our bank, what can we do to make ourselves... well, happy?

If you've heard any of the following from your bank lately, here's what you ought to say in return.

"You have six overdraft charges." One or two overdraft charges certainly aren't fun, but five or more, and you can suddenly feel your monthly budget going to ruin. If your bank isn't one of those that's curtailing its overdraft fees (Bank of America), or it is but hasn't stopped yet (yeah, you heard us, U.S. Bank), you may, unfortunately, know that feeling.

Continue reading What to tell your bank when they say something you don't want to hear

What to tell your bank when they say something you don't want to hear originally appeared on WalletPop Blog on Tue, 10 Nov 2009 14:00:00 EST. Please see our terms for use of feeds.

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]]>banksGeoff WilliamsTue, 10 Nov 2009 14:00:00 ESTGMAC's performance shows that we're not out of the woods yethttp://www.walletpop.com/blog/2009/11/10/gmacs-performance-shows-that-were-not-out-of-the-woods-yet/http://www.walletpop.com/blog/2009/11/10/gmacs-performance-shows-that-were-not-out-of-the-woods-yet/http://www.walletpop.com/blog/2009/11/10/gmacs-performance-shows-that-were-not-out-of-the-woods-yet/#commentsFiled under:

It's been an interesting year for GMAC, if interesting means humbling.

Back in May, the government conducted a series of stress tests and determined that 10 of the largest 19 banks needed to have more capital, if they were going to survive any more economic troubles that might come our way. Then, the 10 were given six months to raise a grand total of $74.6 billion in capital.

Well, here's the good news. Monday, the Federal Reserve announced $77 billion was raised.

But the bad news involves the bank hold company, GMAC Financial Services, the 14th largest bank and the lending device used by many Americans to pay for their cars -- those cars that are built by General Motors and Chrysler. GMAC, which is now 35% owned by the American government, has fallen short of raising its required $11.5 billion and will need what will be its third loan from the U.S. Treasury, which it will likely get through the TARP Automotive Industry Financial Program. That will mean American taxpayers will own even more of GMAC Financial Services.

GMAC is believed to need $5.6 billion in capital.

Continue reading GMAC's performance shows that we're not out of the woods yet

GMAC's performance shows that we're not out of the woods yet originally appeared on WalletPop Blog on Tue, 10 Nov 2009 08:00:00 EST. Please see our terms for use of feeds.

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]]>GMACGMAC Financial ServicesGmacFinancialServicesGeoff WilliamsTue, 10 Nov 2009 08:00:00 ESTPersonal bankruptcies on the risehttp://www.walletpop.com/blog/2009/11/06/personal-bankruptcies-on-the-rise/http://www.walletpop.com/blog/2009/11/06/personal-bankruptcies-on-the-rise/http://www.walletpop.com/blog/2009/11/06/personal-bankruptcies-on-the-rise/#commentsFiled under:

bankruptcySome new numbers have come out that serve as a reminder that the country is in a recession, regardless of what economists say. Last month, personal bankruptcies increased by 9 percent,according to the American Bankruptcy Institute.

That translates into 135,914 people who last month decided that their lives would be better off post-bankruptcy, than continuing to slog on and sink into a morass of financial despair. Hopefully, the fresh start will help, though you can just imagine that plenty of those people are still unemployed, and while now debt-free, or relatively debt free, aren't yet bringing in a serious income to fund their personal recoveries.

Continue reading Personal bankruptcies on the rise

Personal bankruptcies on the rise originally appeared on WalletPop Blog on Fri, 06 Nov 2009 16:00:00 EST. Please see our terms for use of feeds.

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]]>bankruptciesbankruptcyGeoff WilliamsFri, 06 Nov 2009 16:00:00 ESTMan stabs himself to get out of working the night shifthttp://www.walletpop.com/blog/2009/11/05/man-stabs-himself-to-get-out-of-working-the-night-shift/http://www.walletpop.com/blog/2009/11/05/man-stabs-himself-to-get-out-of-working-the-night-shift/http://www.walletpop.com/blog/2009/11/05/man-stabs-himself-to-get-out-of-working-the-night-shift/#commentsFiled under:

What do you make of a guy who doesn't want to go to work so badly that he stabs himself in the leg? And then calls the police to report that he's been knifed? All so he can avoid working his shift at Blockbuster Video.

The Denver Post reported earlier this week that when 29-year-old Aaron Siebers walked into Blockbuster at the start of his evening shift, he claimed he had been attacked by three people -- skinheads, he said at first. Indeed, he had a deep wound in his leg and several lesser cuts.

A manhunt soon ensued, complete with police dogs. Then the police started finding holes not just in his leg, but his story, For starters, he claimed to have been attacked near a Target, but the cameras didn't pick up the incident or show any suspicious activity.

Siebers eventually recanted and admitted that he had abducted himself at knife point.

Continue reading Man stabs himself to get out of working the night shift

Man stabs himself to get out of working the night shift originally appeared on WalletPop Blog on Thu, 05 Nov 2009 13:30:00 EST. Please see our terms for use of feeds.

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]]>Blockbusterjobsself-injurystabbingGeoff WilliamsThu, 05 Nov 2009 13:30:00 ESTWhat to do if your bank follows the 115 that failed this yearhttp://www.walletpop.com/blog/2009/11/02/what-to-do-if-your-bank-follows-the-115-that-failed-this-year/http://www.walletpop.com/blog/2009/11/02/what-to-do-if-your-bank-follows-the-115-that-failed-this-year/http://www.walletpop.com/blog/2009/11/02/what-to-do-if-your-bank-follows-the-115-that-failed-this-year/#commentsFiled under:

Almost every Friday this year, usually in the evening, a grim announcement is released to the public: Another bank has failed.

Sure enough, Friday came and went, and with it, came the announcement that another bank had failed. Actually, not just one bank had failed -- but nine. That's the most that's occurred on any one day this year.

So far this year, that brings the total number of bank failures to 115. The nine new banks are in California, Illinois, Texas and Arizona, all subsidiaries of FBOP Corp, a holding company based in Oak Park, Ill. And while nine bank failures at once is a lot, because they're all part of the same company, it doesn't seem as chilling a day as it might otherwise would have been.

Continue reading What to do if your bank follows the 115 that failed this year

What to do if your bank follows the 115 that failed this year originally appeared on WalletPop Blog on Mon, 02 Nov 2009 00:25:00 EST. Please see our terms for use of feeds.

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]]>banksfailed banksFailedBanksGeoff WilliamsMon, 02 Nov 2009 00:25:00 ESTSave, yes. Spend, no. Lessons we've learned from the recessionhttp://www.walletpop.com/blog/2009/10/31/save-yes-spend-no-lessons-weve-learned-from-the-recession/http://www.walletpop.com/blog/2009/10/31/save-yes-spend-no-lessons-weve-learned-from-the-recession/http://www.walletpop.com/blog/2009/10/31/save-yes-spend-no-lessons-weve-learned-from-the-recession/#commentsFiled under: ,

buy moreIf there's any good news in the recession, it's been that maybe -- just maybe -- people are learning enough lessons about spending habits that the next generation might be able to avoid some of the financial mistakes that have consumed the Baby Boomers, Generation X and Generation Y. At least, that's my takeaway from MetLife's recent survey of 2,200 adults, where they asked Americans about their new financial habits. Here's what people had to say about the changes they've made:

Continue reading Save, yes. Spend, no. Lessons we've learned from the recession

Save, yes. Spend, no. Lessons we've learned from the recession originally appeared on WalletPop Blog on Sat, 31 Oct 2009 15:00:00 EST. Please see our terms for use of feeds.

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]]>MetLifesaving moneySavingMoneyGeoff WilliamsSat, 31 Oct 2009 15:00:00 ESTHey, thanks, just what we didn't want -- a new credit card feehttp://www.walletpop.com/blog/2009/10/20/hey-thanks-just-what-we-didnt-want-a-new-credit-card-fee/http://www.walletpop.com/blog/2009/10/20/hey-thanks-just-what-we-didnt-want-a-new-credit-card-fee/http://www.walletpop.com/blog/2009/10/20/hey-thanks-just-what-we-didnt-want-a-new-credit-card-fee/#commentsFiled under: ,

Making the rounds in the media from the Associated Press to USA Today is the news that Bank of America -- starting next year -- will be giving credit card users a new fee, ranging from $29 to $99 a year.

What's odd is that not everyone will get this charge. Bank of America has been calling it an "experimental" fee. Spokeswoman Betty Riess told the Associated Press that the customers selected to get the extra $29 to $99 add-on are based on "risk and profitability."

We can only speculate, but that sounds like the people who are mired in debt (high risk) will get it and those are aren't very profitable to Bank of America (the customers who pay off their balances every month).






Continue reading Hey, thanks, just what we didn't want -- a new credit card fee

Hey, thanks, just what we didn't want -- a new credit card fee originally appeared on WalletPop Blog on Tue, 20 Oct 2009 15:00:00 EST. Please see our terms for use of feeds.

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]]>Bank of AmericaBankOfAmericacredit cardsCreditCardsGeoff WilliamsTue, 20 Oct 2009 15:00:00 ESTNew rules proposed in Congress for overdraft chargeshttp://www.walletpop.com/blog/2009/10/19/new-rules-proposed-in-congress-for-overdraft-charges/http://www.walletpop.com/blog/2009/10/19/new-rules-proposed-in-congress-for-overdraft-charges/http://www.walletpop.com/blog/2009/10/19/new-rules-proposed-in-congress-for-overdraft-charges/#commentsFiled under:

Earlier today, Senators Chris Dodd, Jack Reed, Charles Schumer and Sherrod Brown unveiled a long awaited bill that will, if enacted, make it harder for banks to lob overdraft fees at their customers.

If the Fairness and Accountability in Receiving (FAIR) Overdraft Coverage act passes, it will do many things, including:
  • require banks to warn customers if a withdrawal made at an ATM or bank branch will overdraw their account.
  • keeping banks from processing debits to make it likely that more transactions will incur "bounce" fees
  • require overdraft fees to be in proportion to the bank's costs in processing them
  • forbid banks from automatically enrolling customers in overdraft programs without their permission
  • prohibit banks from including overdraft protection in a statement of the customer's available balance
  • limit the number of overdraft fees that banks can charge from one per month to six per year

Continue reading New rules proposed in Congress for overdraft charges

New rules proposed in Congress for overdraft charges originally appeared on WalletPop Blog on Mon, 19 Oct 2009 18:00:00 EST. Please see our terms for use of feeds.

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]]>featuredoverdraft chargesoverdraft feesOverdraftChargesOverdraftFeesSenator Chris DoddSenatorChrisDoddGeoff WilliamsMon, 19 Oct 2009 18:00:00 ESTBank customers may be hurting, but banks doing finehttp://www.walletpop.com/blog/2009/10/17/bank-customers-may-be-hurting-but-the-banks-are-doing-just-fine/http://www.walletpop.com/blog/2009/10/17/bank-customers-may-be-hurting-but-the-banks-are-doing-just-fine/http://www.walletpop.com/blog/2009/10/17/bank-customers-may-be-hurting-but-the-banks-are-doing-just-fine/#commentsFiled under:

Several banks came out this week with the news that their earnings are extremely robust. Recession? What recession? In fact, part of the reason the Dow recently topped 10,000 is credited to how the nation's banks have been doing.

If you want to keep score, here's how some of the nation's biggest banks are faring:
  • JPMorgan Chase & Co: Reported a $3.59 billion profit in third-quarter earnings (between July and September). It's a pretty neat hat trick, given that they said they had to double the amount of money originally set aside for failed home and credit card loans. But it's investment banking that's bringing in the profits.
  • Goldman Sachs: Earned $3.19 billion in profit in the same period, which is almost the most it has ever made in a three-month period. The company is doing so well, I'm thinking I definitely went into the wrong business, no matter how much I enjoy my life as a writer. The Wall Street Journal reports that the bank's 31,700 employees are poised to earn an average of $700,000 each in 2009, which is a record for the 140-year-old firm.
  • Citigroup: Managed a profit of $101 million in the third quarter of the year. Compared to JPMorgan and Goldman, these profits almost make Citigroup look like a slacker.

Continue reading Bank customers may be hurting, but banks doing fine

Bank customers may be hurting, but banks doing fine originally appeared on WalletPop Blog on Sat, 17 Oct 2009 15:00:00 EST. Please see our terms for use of feeds.

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]]>bank profitsBankProfitsCitigroupGoldman SachsGoldmanSachsJPMorgan ChaseJpmorganChaseGeoff WilliamsSat, 17 Oct 2009 15:00:00 ESTSuch a deal! New credit card offers a mere 79.9% interesthttp://www.walletpop.com/blog/2009/10/16/such-a-deal-new-credit-card-offers-a-mere-79-9-interest/http://www.walletpop.com/blog/2009/10/16/such-a-deal-new-credit-card-offers-a-mere-79-9-interest/http://www.walletpop.com/blog/2009/10/16/such-a-deal-new-credit-card-offers-a-mere-79-9-interest/#commentsFiled under:

It's like some credit card companies want to be ridiculed. What else can you say about a company offering a credit card with a 79.9% APR?

At first, I thought it was a joke or a misprint. But then I saw it confirmed in no less a reputable source than American Banking News, and realized that--Oh. My. God. It's true. Yes, First Premier Bank is offering a "Premier Card" credit card with a 79.9% APR.

Yes, 79.9%.

San Diego's NBC affiliate broke the story when alerted by a viewer Gordon Hageman, who told reporter Bob Hansen, "I think they're trying to take advantage of me." Hageman's retort: "Ya think?"

The comments among WalletPop writers were along the same lines. WalletPop regular Zac Bissonnette offered some words that my editors would censor if I repeated them here, but he did see one bright side: "79.9% is one HELL of an incentive to pay your balance in full each month."

Continue reading Such a deal! New credit card offers a mere 79.9% interest

Such a deal! New credit card offers a mere 79.9% interest originally appeared on WalletPop Blog on Fri, 16 Oct 2009 08:00:00 EST. Please see our terms for use of feeds.

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]]>First PremierFirst Premier BankFirst Premier BankcardFirstPremierFirstPremierBankFirstPremierBankcardGeoff WilliamsFri, 16 Oct 2009 08:00:00 ESTMortgage lenders are quite pleased with the housing markethttp://www.walletpop.com/blog/2009/10/15/mortgage-lenders-are-quite-pleased-with-the-housing-market/http://www.walletpop.com/blog/2009/10/15/mortgage-lenders-are-quite-pleased-with-the-housing-market/http://www.walletpop.com/blog/2009/10/15/mortgage-lenders-are-quite-pleased-with-the-housing-market/#commentsFiled under:

Mortgage brokerHome sweet home doesn't mean quite what it used to. Not to homeowners who want to sell their home but can't, thanks to a weak market. Not to those facing foreclosure, who will soon lose the roof over their heads. Not to the potential home buyers who are having more trouble securing loans than they used to. And not to real estate agents, who are having more trouble selling those houses these days and are seeing their commissions dropping.

But mortgage lenders like the old saying just fine, and as a group, they're probably quite pleased by the current state of the market.

Continue reading Mortgage lenders are quite pleased with the housing market

Mortgage lenders are quite pleased with the housing market originally appeared on WalletPop Blog on Thu, 15 Oct 2009 12:00:00 EST. Please see our terms for use of feeds.

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]]>mortgage lendingMortgageLendingreal estateRealEstateGeoff WilliamsThu, 15 Oct 2009 12:00:00 ESTYes, some banks charge to cash checks -- even their own checkshttp://www.walletpop.com/blog/2009/10/12/yes-some-banks-charge-to-cash-checks-even-their-own-checks/http://www.walletpop.com/blog/2009/10/12/yes-some-banks-charge-to-cash-checks-even-their-own-checks/http://www.walletpop.com/blog/2009/10/12/yes-some-banks-charge-to-cash-checks-even-their-own-checks/#commentsFiled under:

The Philadelphia Inquirer recently ran an interesting story about a musician who recently received a $150 check from his agent. It was issued by PNC Bank, and so when the musician passed by one of the branches, he decided to go inside and cash the check.

That's when he learned it would be $10 for him to receive his cash.

As Steve Cohen, a professional piano player and a singer, told Inquirer columnist Jeff Gelles, "I've just never seen a bank operate that way."

The article goes onto note that PNC Bank recently upped its fee for noncustomers to cash a PNC check, from $5 to $10.


Continue reading Yes, some banks charge to cash checks -- even their own checks

Yes, some banks charge to cash checks -- even their own checks originally appeared on WalletPop Blog on Mon, 12 Oct 2009 13:00:00 EST. Please see our terms for use of feeds.

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]]>cash checkingCashCheckingPNC BankPncBankGeoff WilliamsMon, 12 Oct 2009 13:00:00 EST