There’s been a lot of media coverage lately about Americans switching from big banks to community banks, credit unions and online banks. That may be a good move for some people, but we’ll come right out and say it: Some consumers …
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The Big Banks That Aren’t Adding Debit Card Fees*
*What’s the asterisk for? Well, while several big banks say they won’t start charging monthly fees for debit cards a la Bank of America, in most cases they are adding other fees or changing account requirements to increase …
Raise Prices in a Slow Economy? Nice Try
Falling diaper sales and the mess at Netflix point up the risks that big banks are taking by boosting fees in a recessionary environment.
Three Alternatives to Paying Big Bank Fees
No one likes to pay for something they’re accustomed to getting for free. So, quite predictably, Bank of America customers are angry that using a debit card will soon cost them $5 a month. While consumers are outraged with the …
Banks Waive Fees For Hurricane Irene Victims
Americans along the East Coast, especially in the Northeast, are still grappling with the aftereffects of Hurricane Irene. Many have no power and a smaller number have been displaced from their homes or are trapped by washed-out …
Back-to-School Special: 5 Top-of-the-Class Credit Cards for Students
While the Credit CARD Act cut down on a lot of the shady marketing practices credit card issuers used to target college students, there are still a plethora of cards out there for the campus crowd, and wading through them can be …
How College Kids Can Build Credit by Graduation
I never thought it would happen. I’ve been throwing away credit card offers addressed to my daughter for years. But now that she’s 21, entering her senior year of college, I figured it was time for her to experience plastic, …
Citi Data Breach: Are Hackers Getting Smarter?
It’s been a rough week for the banks. First, the Senate votes to go ahead with the debit fee cap that kicks in next month, then the Financial Times reports that hackers successfully broke into Citigroup’s North American card …
Bank Accounts: Do the Free Cash Come-ons Outweigh the Fees Sure to Follow?
Major banks are offering cash incentives—$100, $200, even up to $300—to entice would-be customers into opening new accounts. But just as the banks giveth, they’re also more apt to take away in the form of new and rising fees. Oh, and when you look closely at the fine print for many of these cash reward come-ons, the banks aren’t …
Citibank’s Credit Card ‘Makeover’: Why I’m Already Not a Fan of 2G Plastic
A new generation of credit cards is being outfitted with all sorts of bells and whistles. Actually, with technology way more sophisticated (complicated?) than mere bells and whistles: lights, a slim battery that lasts four years, an embedded computer chip, and buttons that allow you to make purchases using regular old credit, or with …
Why Are Banks and Credit Card Issuers Being So Nice?
Banks are giving cash bonuses of $100, even $200 to people who open checking accounts. New credit cards come with policies that will waive or refund interest to customers in certain situations. Why are we the beneficiaries of such generosity? Mostly, because for banks, offering a helping hand—or at least appearing to do so—is good …
Deep in Credit Card Debt? Ask and You Might Be Relieved
Millions of people in credit card debt are getting their terms changed—sometimes meaning they pay no interest—simply by asking.