Spending and Saving
How Credit Card Companies Are Making Nice
And you thought credit card companies held all the…well, cards.
Now they’re getting battered by the recession, as some consumers get smart about credit, and others get so broke they can’t pay at all. Then there are the new rules coming down from Washington.
So credit card companies are changing the way they play (a little). Lenders are actually getting friendlier, says a story in Sunday’s Washington Post.
Budgeting Tools
Until recently, credit card companies didn’t want you to have a great handle on your finances, because that meant more balances, late payments and fees. But if you go broke, how will they make money off of you? Chase Blueprint is one of the new tools that helps cardholders manage their cash. The system even lets you designate “everyday expenses” to pay in full each month. You’re not charged interest even if you don’t pay the rest of your bill completely.
Rewards for Paying
Citigroup and Discover have new cards that incentivize you to pay down balances. Citi’s Forward lowers the interest rate for good behavior, and Disover’s Motiva wil pay back a month of interest.
Paying with Points
They’re not just for flights any more. American Express now lets cardholders use reward points to pay for expenses like phone bills, utilities and even income taxes. That’s great for those of us who use points like money–especially in penny-pinching times.
Tags: Discussion
3 comments for “How Credit Card Companies Are Making Nice”
Post a comment
Special Sections
[...] Internet Marketing as an effective tool to combat Recession « Weblink India.Net – BlogsRhiza’s Tools Used for Major Foundation Report on Impact of the Recession in Pa., Oh. | Analysis & Commentary | Rhiza LabsAdvertising in a Recession means Digital, SEO, and SMO | Yooter Social Search Media OptimizationMarshall Fenn Blog » Marketing in a Post- RecessionCredit Card Companies and Recession | Recessionwire [...]
nternet Marketing as an effective tool to combat Recession « Weblink India.Net – BlogsRhiza’s Tools Used for Major Foundation Report on Impact of the Recession in Pa., Oh. | Analysis & Commentary | Rhiza LabsAdvertising in a Recession means Digital, SEO, and SMO | Yooter Social Search Media OptimizationMarshall Fenn Blog » Marketing in a Post- RecessionCredit Card Companies and Recession | Recessionwire [...]
Posted by Tools For Recession. | 7Wins.eu | February 8, 2010, 6:59 pm
Credit Card Website
Indeed, a lot of people get into trouble with credit card companies, especially when they use several cards at once as often they can’t manage several payments at once and get into debt. Of course, credit cards are very helpful when you need some extra money for daily needs, but some people use them improperly and then face the problem of repaying their debts. Fortunately, it’s a good option for such situations called credit card debt settlement that helps to reduce the existing debt and to cut short the payments. However, the best way is to avoid such problems following the tips mentioned above. But, if you are already in trouble try to get rid of your debt as soon as possible with the help of credit card debt settlement.