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  My sister Kim has a classic case of ADHD, and she is always forgetting her wallet. She often zooms from one room to the next, absorbed in whatever task or great big plan she has on her mind, and leaves a trail of personal belongings in her wake: Wallet, keys, hair band, hair brush, shoes …   She has locked herself out of her car so many times that she has perfected the art of opening the car door with a clothes hanger. And when she got married two weeks ago, her infinitely patient lover promised in his vows that every time they left a room, he would recite the same checklist he has uttered for the last six years: “Cell phone … wallet … keys.”   But if mobile wallets actually start to take hold in the U.S. in the next couple of years, my new brother-in-law may finally be able to shorten that list.   Yesterday, Google set the media and tech worlds buzzing again with its announcement of a new application for Android phones called the Google Wallet. The new app w Read more…

Mr. Credit Card,

I’ve looked around your site and it looks like you are pretty good at helping people work down their debt. Will you help me?

I have about 17,000 worth of credit card and medical debt. I have a job and I am making the payments. It’s slow, but I am not past due on anything.

Is there any faster way to reduce this debt? Can I negotiate? How do I do that? What do I need to do to get the debt to go away faster? I read somewhere that I had to pay taxes on the forgiven debt. Is this true?

Thanks,
Phil

Phil:

The state of the economy has left a number of people, just like yourself, looking for a way to get rid of their debt the fastest way possible. Besides continuing to pay on your bills, there are a couple of ways to reduce the debt a little quicker. For

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One cool feature of many credit card rewards programs is that they give their members the opportunity to redeem their rewards in the form of a charitable donation. Instead of cashing in your rewards for cash back, gift cards, or merchandise, you can donate them to a charity. Today we are going to look at the options the Citi ThankYou Network offer their card members when it comes to making a charitable donation. You will also find a list of credit cards that a part of the Citi ThankYou Rewards Program.

There are 8 different Citi® credit card that are part of the Citi ThankYou Network. With these credit cards you earn points for doing the things you do every day, like banking, shopping. You can also earn points for banking with Citibank with an enrolled checking account, booking eligible travel with Expedia® or shopping at over 300 retailers through the ThankYou Bonus Center run by Citi. H

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Credit card Q&A: “What credit card limit can I get?”

Consumers are often curious about what they’ll qualify for in the way of a credit card, if approved at all.

Unfortunately, it’s always a bit of a mystery until after you apply and receive your credit card (and its related terms).

But you can certainly clue yourself in a bit before you apply.

Credit card issuers tend to look at two main things, including your credit score and your income.

It used to be household income, but now it’s just your income, since living with your wealthy parents doesn’t necessarily mean they’ll pony up if you can’t pay your debts.

Credit card companies also ask for employment information (and schooling prior to that) to get a better idea of what you make, considering the fact that you simply state a number on the credit card application.

They then take this information and look at it alongside your credit score, along with the information in your credit report, to determine your credit card limit.

Lower Credit Scores and Income = Lower Credit Card Limits

Generally, those with lower credit scores and lower gross annual income will receive lower credit card limits, and vice versa.

So a consumer with an average credit score and low income who applies for a credit card may receive a $3,000 credit card limit, while a consumer with an excellent credit score and higher-than-average income may receive a $25,000 credit card limit.

Of course, it’s hard to just say you’re this, so you’ll get that.

The takeaway is higher income and credit scores equals higher credit card limits.

Additionally, those with limited credit history will see lower limits than those with proven track records of supporting large amounts of debt, so understand that it takes time.

Keep in mind that charge cards don’t have a pre-set spending limit, but must be paid in full each month.

Tip: Having a lot of outstanding credit card debt can lower your credit score, so it’s best to keep balances to a minimum, regardless of your credit card limit.

Most checking accounts have certain fees and charges that you need to know about. These fees and charges can be associated with the regular use or maintenance of the account or they can be charges that you might incur in the event that you are unable to keep the minimum maintaining balance or when you write a check for an amount more than what is available on your account. A lot of individuals today make the mistake of not checking what fees and charges they might need to pay for, which often results to unexpected and unnecessary expenses. To make sure that you would be able to avoid paying hidden fees and other charges on your checking account, read on for some pointers.

First off, when you apply for the checking account and before signing the agreement, make sure that you have read all the terms and conditions. These would usually have information about the kinds of fees and charges that are associated with the account. Read more…