Fidelity Credit Card Review
Posted on February 24th, 2011
Over the years we have seen quite a shake-up when it comes to brokerage credit card offers. During the Great Recession and the tough economy that followed, some were discontinued or had their rewards reduced. However the Fidelity credit card offers never went anywhere.
There are actually four different Fidelity credit cards. Let’s review all of them…
This Fidelity Visa card has a two-tiered reward structure as follows:
- For annual spending up to $15,000 there is 1.5 points per dollar given.
- For annual spending which exceeds $15,000 there is 2 points per dollar given.
There is no cap on the amount of rewards that can be earned.
When it comes to redemption, the most common choice is to convert them to cash that can be deposited into the accountholder’s eligible Fidelity account. Every
Tags: Card, Credit Card
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Australian Economy sluggish even without floods, figures suggest
Posted on February 24th, 2011
Australias economy is not out of the woods yet, with new figures suggesting business conditions will remain hard across the country for some time yet.
While a number of recent reports have warned that the recent floods seen in Queensland will hit everyday consumers hard, with banks tipped to put up rates on debit cards or home loans in order to compensate for their losses, figures show that this may have been the case even without the natural disaster hitting.
Indeed, according to the National Australia Bank (NAB), business conditions were weakening at a steady rate towards the end of 2010, with its business conditions index dropping markedly several weeks before the first of the floods hit.
Notably, several of the sectors most likely to impact upon the lives of ordinary Australians, such as utilities, finance and agribusiness were all seen to suffer at the end of the year, with conditions found to be tough in the state of Victoria as well as Queensland.
Meanwhile, shares in some of Australias biggest banks have taken a hit in the wake of the Christchurch earthquake.
Have a question about credit cards? Read full post…
Tags: Figures Suggest, Suggest
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What’s Not in a Fico Score?
Posted on February 24th, 2011
If you didn’t already know, there are five main factors that determine a Fico score.
They include:
- Payment history – Amounts owed – Length of credit history – New credit – Types of credit
Now that we know what’s in a Fico score, let’s find out more about “what’s NOT in a Fico score.”
Your race, ethnicity, national origin, sex, and martial status do not affect your credit score, per the Consumer Credit Protection Act.
Your age is also not a determinant of a Fico score, though other types of credit scores may use it.
Your salary, occupation, title, and employer are included in your credit report, but do not affect your actual Fico score.
However, banks and lenders may use this information against you as part of their own underwriting decisioning.
Additionally, a Fico score does not take into account where you live, the interest rate being charged on your accounts, or any items reported as child/family support.
Rental history doesn’t affect Fico scores either, but now affects VantageScore.
Finally, certain types of credit inquiries don’t count against you, such as those initiated by you and those initiated by employers and insurance companies (will a credit check lower my score?)
And as a rule of thumb, if it’s not on your credit report, Fico doesn’t use it.
It will look like you’re attempting to obtain credit and as a result, could lower your credit score.
Get all 3 credit scores instantly for free for 30 days without worrying about a credit score ding.
Tags: Fico Score, Score
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New credit card balance transfer battle
Posted on February 21st, 2011
A new balance transfer battle has erupted with Barclaycard and Nationwide extending their offers to claim top spot in the market.
Yesterday Nationwide matched Barclaycards 17 month 0% balance transfer offer previously the longest on the market by introducing a new card.
Today Barclaycard announced that it would be upping its deal to 18 months, beating Nationwide by one month, to make it the with the longest balance transfer offer on the market.
Balance transfer cards allow you to move an existing credit card debt to a new provider at a 0% rate.
There are over a hundred 0% balance transfer credit card deals on the market, ranging from three months to Barclaycards 18 months.
Other credit card providers have also introduced new deals to tempt borrowers. Tomorrow M&S launches a new offer of 0% on all purchases with its card for 15 months and earlier this week MBNA launched a new rate for life credit card at 5.9%. <
Tags: Balance Transfer, Balance Transfer Battle, Battle, Transfer Battle
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Are Credit Cards For Minors a Bad Idea?
Posted on February 21st, 2011
In this day and age, it seems that everyone uses credit cards for everything. For us adults, it makes sense because of the rewards and benefits, but is giving plastic to a minor the best choice? Let’s weigh the benefits and drawbacks.
Safer than cash – If cash is lost or stolen you (or your kid) is out of luck. With credit cards, you will be legally protected against unauthorized charges. By federal law the most you can be held accountable for is $50 but most credit cards don’t even charge that and instead, give you zero liability.
Know where the money is being spent – When it comes to cash, you have to take your kid’s word for how it is spent. One benefit of a minor using a credit card is that their spending can be broken down by transaction – you as the parent or guardian can see which stores and merchants your teen is spending money at. Most credit
Tags: Cards, Credit Cards
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Airline Reward Benefits Soar to New Heights
Posted on February 21st, 2011
New rules enacted by Congress over the last few years have resulted in credit card issuers scaling back on their reward programs. Travel rewards, one of the most popular categories, was hit hard with more miles or points required for redemption and fewer earning opportunities. On top of that, new fees for baggage and snacks have caused even more consumers to shun airline reward cards. But with issuers revamping their programs, consumers may find good reason to reconsider them, especially frequent fliers. Even with an annual fee, the changes may make it worth taking another look.
Reward cards in the third quarter of 2010 accounted for approximately 40% of 1.2 billion credit card offers issued, up 30% from 2009. Airlines, in an attempt to lure more of these consumers, are extending money-saving benefits. For ex
Tags: New, New Heights
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