Credit Card Now

A recent TransUnion study found that the percentage of Americans behind on their mortgage but current on their credit cards increased nearly 55 percent between early 2008 and the third quarter of 2009.

And while the amount of consumers we’re talking about is still relatively small (6.6%), I find the overall trend to be quite compelling. Clearly, consumers are beginning to think differently about the priority of their debts.

When I bought my first home in 2005 (at the peak of the market in my area- grrhh!), it was ingrained in my mind that no matter what, I would always strive to pay my mortgage first. I

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Should you be allowed to sit in your skivvies and gamble away your time via online poker? And go into credit card debt if you lose?

We have written extensively about the issue of online gambling, since the most popular way to pay for that habit has been credit cards.

A 2006 federal law, the Unlawful Internet Gambling Enforcement Act, placed the onus on credit card issuers to make sure their cards weren’t being used for online gambling.

Now, in a twist, California Attorney General (and gubernatorial candidate) Jerry Brown has announced that his office will start using the Web to prevent problem gamblers from going into cardrooms.

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News that book retailer Barnes & Noble may be up for sale shouldn’t send consumers speeding to the nearest store, gift card in hand.

Barnes & Noble announced on Aug. 3 that it was considering a possible sale of the company. But a potential change in ownership won’t leave its gift cards valueless, Barnes & Noble and an independent expert say.

“The fact that the board is exploring strategic alternatives has nothing to do with the day-to-day business,” says Mary Ellen Keating, the company’s senior vice president of corporate communications. Barnes & Noble is continuing to accept its gift cards as usual, Keating says.

And it will likely continue to redeem store-issued plastic. Read more…

When it comes to card offers, cash back credit cards are just one form of rewards systems designed to entice consumers to accepting a credit line. This bonus appeals to many people because they believe they are saving on their credit card bill by earning some of their purchase price back. However, it is important that you consider whether this type of credit card would actually benefit you and your wallet.

It is important to keep in mind that you will not earn a ton of money back with cash back credit cards. They work on a percentage, typically ranging from 1% to 5% of your qualifying purchases.

Therefore, if you spend $1000 on your card in a given month, you could earn back $10-$50, depending on how well the incentive pays.

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In my latest blog, Susie got her Super Bowl tickets. But now, I get to hang out with Beyonce and Gwen Stefani — sort of.

MissThrifty chose my blog — which detailed the happy ending to one Bank of America cardholder’s six-year quest to earn a trip to the Super Bowl with rewards points — to be part of this week’s 269th Carnival of Personal Finance. MissThrifty dubbed it The Divas Edition and sprinkled the carnival with video clips from great musical divas past and present. Beyonce and Gwen are there, as are legends Billie Holliday, Nina Simone, Shirley Bassey and more.

Check it out. Read more…