Archive for the 'Banking' Category
Universal Default Rates and Credit Cards
January 22nd, 2008As you may have already known, credit card issuers have been hitting card-holders with a universal default rate when the consumer’s credit score drops. All the major banks and card issuers have been doing this for quite some time now. However in recent times, big banks like Citibank and Chase have distanced themselves from this […]
The Credit Card Balance Transfer Game
September 24th, 2007My definition of this game would be: The act of transferring the balance from a credit card to a bank account with the intent to invest or borrow interest-free money. It is also referred to as “0% credit card arbitrage.”
There’s been some debate on how safe “The Credit Card Balance Transfer Game” is. Some people have called it irresponsible […]
Compounding Interest vs. Simple Interest
June 13th, 2007If you’ve never heard of compounding or simple interest, you should take a minute to read this post. For those who have credit cards, take time to understand what the credit card companies are charging you on a monthly basis.
Compounding interest is interest that can be added to your principal balance. The interest that is added […]
Non ChexSystems Banks
July 26th, 2006A free list of Non-ChexSystems Banks can be found at www.creditservicer.com/pages/chexsystems-help/recommended-banks.php. This list is updated as soon as new submissions are made by our visitors. This list is unique in that most of the banks and credit unions were submitted by our visitors.
Hopefully, if you’ve found a new Non-ChexSystems Bank, you could add it to our […]
