Credit Cards

Michael on April 1st, 2010
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Credit cards can change your life.
You: Excellent!
Not necessarily for the better.
You: Oh. I mean . . . right.
There are some upsides to credit cards for those who use them responsibly.
You: Such as?
Benefits include building a credit history, the convenience of not carrying around a lot of cash, the ability to pay for things many [...]

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Michael on December 9th, 2009
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Last week I discussed Why the drop in late credit card payments doesn’t excite me. Then, I covered The real unemployment rate just this past Monday.
To continue my little rant on misleading statistics today I discuss the phenomenon of lower credit card balances.  Analyzing TransUnion data, the AP reported the credit card delinquency decline here [...]

Continue reading about The real reason credit card balances are falling

I’m often asked if the emotional separation inherent in credit card usage also applies to debit cards.  To the dismay of avid debit card users everywhere, I believe it does.
You: Why?
Debit cards are made of plastic.
You: The material matters?
No, it’s not the material that’s at issue. Debit cards are superior to credit cards since, for [...]

Continue reading about Do Debit Cards Separate You From Your Money Emotionally?

Much has been written about the deceiving practices of credit card issuers and our government’s newfound desire to closely regulate them. make it harder for them to continue.  In my opinion, some banks and bankers (like some politicians) are bad, greedy, and in need of some adult supervision. Most, however, play reasonably fairly, especially when [...]

Continue reading about Top Five Lies We Tell Ourselves About Using Credit Card Usage

Michael on September 10th, 2008
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I just read an interesting article in Fortune Magazine by Geoff Colvin.
You: How interesting was it?
It was so interesting that I would even link to it . . . if I could.
You: You can’t?
You: Why not?
I found the table of contents to the magazine online, but with no links to the actual articles.
You: Why would [...]

Continue reading about Where will the next bubble come from?

Michael on July 2nd, 2008
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Two carnivals to tell you about this week, including the Carnival of Money Stories hosted by My Good Cents.  All the articles are real-world experiences people have had with money.  Check it out.
This week’s Carnival of Personal Finance, hosted by Greener Pastures, featured dozens of useful articles including a section of my hypothetical graduation speech [...]

Continue reading about Universities that “accept” credit cards