With more fees associated in moving a balance from one card to another, are these fees worth paying even to 0% balance transfer card?Most balance transfer offers charge a balance transfer fee ranging from 3-5% of the total balance transferred. But look for cards offering 0% for a minimum of 12 months and a balance transfer fee of 3%. This is the only way it will be affordable to you and a better option. Also, Moving $5,000 from a high interest credit card of +15% to a 0% APR transfer card with a 3% balance transfer fee will cost $150, you could save between $400-500 in interest charges on the balance, even with a transfer fee. But if you are going to pay the high interest card off in only a few months, don’t bother transferring. If you do decide to transfer, be sure to pay as much as you can on time every month.
Read more…
– U.S. stocks traded lower on Tuesday as a jump in oil prices renewed fears of hampered economic activity, offsetting a positive reading on manufacturing.
April U.S. crude futures added 1.3 percent to $98.26 per barrel, while Brent rose above $113 on continued concerns about supply disruptions amid unrest in Libya.
High oil prices are “essentially a huge tax on consumers, who make up two-thirds the economy. So there’s no way won’t suffer on this,” said Scott Armiger, portfolio manager at Christiana Trust in Greenville, Delaware, which has $6.8 billion in client assets.
The S&P had its weakest performance since November last week on concerns that high oil prices would stifle economic activity.
In testimony to the U.S. Senate Banking Committee, U.S. Federal Reserve Chairman Ben Bernanke said higher oil prices were unlikely to have a big impact on the U.S.
Read more…
In 2002 I wrote an article entitled The New Rules of Mentoring for The Wall Street Journal. Nine years later the Millennials have changed the playing field and now we have “the newer rules of mentoring”.
The Millennial Generation, born between 1977 and 1998, are the latest generation to enter the workplace. They are 75 million strong in size and are characterized as being self-confident, focused on learning and moving up quickly, team-oriented, well networked, technologically savvy, and desirous of continual feedback.
Millennials have one other thing in common: no matter how smart and confident they are, because they are new to the professional workplace, they need and want mentoring. In addition, the timeline for leadership development is ramping up. Millennials may be thrust into leadership roles faster than any other leaders in the last thirty years, as there are not nearly enough Gen X workers to fill the ranks of the departing Baby Boomers. The
Read more…
ANZ customers are seeking an average refund of about $1,500 per account holder as part of the huge $50 million class action currently being pursued against the bank for “fee gouging”.
According to the AAP, the claims of the 27,000 customers who are participating in the lawsuit range from hundreds of dollars to over $35,000.
The claims are for fees that customers allege were charged unfairly by ANZ from 2004 such as dishonour fees on bank accounts and over-limit fees and late payment fees on credit cards.
News of the average claim amount came as it was reported that the federal court has called on international accounting firm Deloitte to help it find the easiest way through the class action, which is now due to reconvene on March 7th.
It was also confirmed that another 11 banks, including the Commonwealth Bank, Westpac and National Australia Bank, are expected to face similar actions against them.
Such unprecedented legal action against the banks could lead to improved rights for consumers, thereby encouraging more people to compare credit cards and other products in search of the best deals.
The case against ANZ is being funded on a no-win no-fee basis by IMF Australia.
Have a question about credit cards? Read more…
While many scam artists are out there waiting for their next victims, shopping online doesnt have to be scary. Stay ahead of the curve by doing your online shopping with a temporary credit card. Temporary credit cards, also known as throwaway cards or virtual credit cards, can help protect you from identity theft and fraudulent use of your credit cards. Temporary cards are essentially credit card numbers generated by the issuing bank that are attached to your account but may expire immediately after use or according to other similar terms.
When Is a Good Time to Use a Virtual Credit Card?
Different card issuers offer different kinds of temporary cards or alternatives, so it is best to do some research before selecting your plan of action.
Read more…
Welcome to the 295th edition of the Carnival of Personal Finance, a weekly roundup of the best personal finance blog posts on the Web.
This week’s theme is the seven deadly sins of personal finance. From lusting after unnecessary expenses to slothfully letting debt grow, we’re all a little guilty of financial transgressions from time to time.
Throughout this carnival, we will explore the seven sins of lust, wrath, pride, envy, gluttony, greed and sloth. Enjoy!
Editor’s Picks:
- Free Money Finance shows how easy it is to make $1 million, but goes on to explain why most of us never get around to making it happen.
- Credit Card Forum brings up a topic I haven’t heard much about: whether you can get a credit card without a Social Security number.
- As someone who is getting married in less than two months, this is one that really interested me.
Read more…
– Merger activity drove the Dow and S&P to two-and-a-half-year highs on Monday in the latest in a series of mileposts that point to more gains ahead.
Buying accelerated after the S&P 500 broke through the 1,313 mark, taking the index further into levels that prevailed before the financial crisis. More than two stocks rose for every one that fell on both the New York Stock Exchange and Nasdaq, but the day’s rise came on lighter-than-average volume.
Diversified industrial company Danaher Corp agreed to buy medical diagnostics company Beckman Coulter Inc for about $6.8 billion.
Read more…
Aussie lovebirds have been warned about potential online scams ahead of Valentines Day.
AVG, which provides a range of anti-virus and internet security products in Australia, New Zealand and the South Pacific, noted that cyber-criminals tend to latch on to events like Valentines Day in order to take advantage of the high spirits of online shoppers.
“With the number of internet users worldwide reaching the two billion mark, the need to keep the people who are out to steal more than your heart is greater than ever whether youre planning to go online to find a Valentines Day date, to buy flowers or chocolates for your sweetheart, or open a Valentines Day e-card from a mysterious secret admirer” said the company.
Setting out a number of tips for ensuring safer online shopping, AVG urged consumers to use known, reputable sites and to be wary of sites that ask for information that is not relevant to a purchase.
The advice, which may interest people looking to compare credit cards and other money products, also included a recommendation to look for a locked padlock or key symbol which shows that a sites server is secure and that information will be encrypted before a purchase.
Have a question about credit cards? Read more…