Archive for the ‘Finance’ category

The Ivan Fienney Small Business Scam – Be Aware!

February 23rd, 2010

Yeah Another Scam-er

Wow there is another small business millionaire over night guy out there that has reached national recognition. His name is Ivan Fienney, so claimed father of two and an ex-school teacher than now makes $8000 a month. He is the latest of the Google Kit make money at home scam superstars that will sit and tell you that you will get paid for posting links on Google!

We covered the Google Kit scam before but since this guy has reached somewhat of a national recognition it only seams fair that we dissect his program and reveal the truth.

» Read more: The Ivan Fienney Small Business Scam – Be Aware!

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Posted in Business, Finance

Yet More Changes You Need To Know About New Credit Card Regulations

February 22nd, 2010

New Credit Card Regulation

Yesterday we talked about the new changes that the CARD has brought to the wild wild west of credit card issuers world. Today we will cover even more dramatic changes and how they will affect people from all walks of life. Having said that let’s disect the new regulations and find out who it really benefits and why is AGAIN just another half baked idea.

So credit card companies are no longer allowed to sit on college campuses and sign students up offering a slice of pizza. Nor can they jack up our interest rates without prior – 45 days – notice. They no longer can increase your rate by scavenging through your financial records – unless off course you are late on your payment 60 days or more. That sounds all so awesome and overdue but what about he loopholes and how is this gonna benefit the masses? » Read more: Yet More Changes You Need To Know About New Credit Card Regulations

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Posted in Business, Finance

Under 21? Getting a Credit Card Just Got Tougher

February 22nd, 2010

Under 21? No Cards For You!

This is the latest headline CNNMoney.com boast on their credit section of their website. Together with high resolution graphics and examples of students in different credit scenarios, CNN informs the public of the latest government attempt to help people.

But let not stray away from what the real issue here is. Yes there are bad practices in the credit card issuers world, yes there are tons of students that are in debt over their head and yes there are a lot of people that are managing just fine.That has never really been a major topic as everyone agrees on it. But will a new government half baked plan to correct the problem really work?

I vote no. One of my friends posted on Facebook a brilliant idea on this topic. Is not as much that people ar irresponsible or banks are too greedy but rather the issue can be found in our educational fabric. » Read more: Under 21? Getting a Credit Card Just Got Tougher

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Posted in Business, Finance

FDIC Push to Increase Insurance Rates for Risky Banks

February 17th, 2010

FDIC Rate Adjustment

Wall Street wants us to believe that the causes of the financial crash are too complicated for regular folks to understand. But fundamentally, it all came down to greed. Mortgage brokers sold unaffordable mortgages to collect their commissions. Stock brokers made huge, risky bets to get big bonuses. And now that taxpayers rescued Wall Street, greed is making a comeback.

But the FDIC—the agency that insures bank deposits—is trying to do something about it. The FDIC wants banks that hand out big bonuses for risky behavior to pay higher insurance premiums.  Just like a reckless driver pays more for auto insurance, these banks would pay more if they insist on rewarding recklessness.

The FDIC is taking public comments on the proposed new rule until this Thursday, February 18. But banks are pushing hard against it, and many of the comments so far are from bankers. The FDIC needs to hear from regular Americans who got stuck with the bill when these bankers wrecked the economy. If you are tired of  big banks playing risky games on your dime let the FDIC know by submitting a comment here. » Read more: FDIC Push to Increase Insurance Rates for Risky Banks

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Posted in Finance, Politics

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Democrats Shut Down Senate Jobs Bill

February 16th, 2010

Where's the Party At?

This has to be the shortest lived jobs bill to ever enter senate, and sooner than you can say “bi-partisan effort” the bill has been nixed by Senate Majority Leader Reid. Apparently the bill introduced on the 11th by senators Max Baucus (D-Mont.) and Chuck Grassley (R-Iowa) was little “too bi-partisan” for Mr. Reid’s taste. After been hashed out in the senate for weeks, the democrats opposing the bill (and that would be most of them) complained to Mr. Reid that the bill contains too many tax cuts for small and medium businesses and no unemployment benefits extension. In other words… the bill did not include enough government spending.

With unemployment benefits standing to end on February 28th, it seams that the bi-partisanship effort we have grown accustomed to in the last 8 years is well and thriving on Capitol Hill. I just love watching my elected officials at work, especially when by now I am quite amused by the hatred and poisonous debates that the health care reform had to go through and the job bill is falling victim to.

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Posted in Business, Finance, Politics

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What To Do When You Lost Your Credit or Debit Card

February 13th, 2010

Stolen ATM & Credit Cards

I have been a long time advocate against credit cards. Yes they are great for boosting your credit score but also horrible if you can’t pay it off or fall behind. Many financial planners will argue with me on this point but at the end of the day… buy what you can afford now and avoid worrying about how you gonna pay it later.

But all of us pretty much have a credit or debit card, and sometimes we either lose it or it gets stolen. So with all the risks of the credit card how do we manager to protect ourselves in cas we lose our credit cards?

Follow those steps outlined by the Federal Trade Commission and with the law on your side you should not be liable for anything more than $50.00. The Fair Credit Billing Act (FCBA) and the Electronic Fund Transfer Act (EFTA) offer procedures for you to use if your cards are lost or stolen.

Credit Card Loss or Fraudulent Charges (FCBA). Your maximum liability under federal law for unauthorized use of your credit card is $50. If you report the loss before your credit cards are used, the FCBA says the card issuer cannot hold you responsible for any unauthorized charges. If a thief uses your cards before you report them missing, the most you will owe for unauthorized charges is $50 per card. Also, if the loss involves your credit card number, but not the card itself, you have no liability for unauthorized use. » Read more: What To Do When You Lost Your Credit or Debit Card

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Posted in Finance, Home & Real Estate

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How to Get Credit Cards for Poor Credit

February 13th, 2010

Credit Cards for Bad Credit

I will preface this blog with the following: “Credit cards are not for everyone and they are the fastest route to becoming in debt to banks and a poor credit score”! If one is already in the red with their personal finances, a credit card is not a good idea to start with. I was told by my father, a few days after I came to America, that “If you can not buy it now with cash, what makes you think you’re going to have the money 30 days later?”. That stuck with me since and I can say that I was lucky enough to not have those horrifying stories most had with credit cards.

That having been said, and you must really have a credit card even if your credit score is so poor then lets see what is the best way to get one.

1. Find credit cards designed specifically for people with bad credit. These credit cards will typically have a higher interest rate than normal credit cards because lower credit scores are inherently riskier. » Read more: How to Get Credit Cards for Poor Credit

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Posted in Finance, Home & Real Estate

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