Reconsidering conventional wisdom about personal finances in light of the vast changes which have transformed earning, spending, investing, and credit over the past generation.


PenFed Visa Replaces Life-of-Balance with Limited-Time Transfers

We've covered Pentagon Federal Credit Union's tremendous Visa Cards exensively. We regret to note that their longstanding "life of the balance" promotional rate offer on these cards have ended. In effect, one of the last exceptional unsecured loan options available to prime borrowers has been cut back subtantially.

New Pew "Safe Credit Card Standards" Report Argues for New Regulations

Today the Pew charitable trusts released a short report entitled "Safe Credit Card Standards". Pew surveyed credit card offerings from all of the largest issuers, then consulted with various stakeholders--including representatives from credit card issuers.

Chase Cards Regroups on Change of Terms

Late last year, Chase's credit card division decided to change the terms on accounts where customers had taken advantage of low-rate loans which were to be paid back over "the life of the balance".

Update to PenFed 5/5: watch that 5-year CMT rate

Last month we wrote about the great new 5/5 HELOC offering from Penfed. Since then, we've seen unprecedented moves by the treasury to to forestall the credit crisis.

Carrots Work Better: How Credit Card Companies should seek repayment

Yesterday we examined why and how credit card companies are seeking money back from the customers they once so eagerly loaned to. As discussed, we're seeing "carrots, cajoling, and sticks" the likes of which we haven't yet seen among prime card companies.

Carrots, Cajoling, and Sticks: Credit card companies try to get paid

The background: card companies are panicking. It's been widely reported that as the credit crunch has evolved, credit card companies have grown ever more eager to have their customers pay down their balances. While there are several reasons behind their sense of urgency, two stand out. First, card issuers have all but lost their ability to "securitize" their loans.

5/5 Home Equity Line of Credit: PenFed does it again!

As regular readers know, we're huge fans of Pentagon Federal Credit Union here at RTM. They not only give members many of the best financial deals available anywhere, but they're regularly innovating, offering new products that just make sense.

Personal Finance Books are Following the "Conventional Wisdom"

Eleanor Laise wrote an excellent piece for today's Wall Street Journal in which she examined how personal finance books have recently changed their tone, racing to capitalize on the prevailing fear.

Credit Scores are (Nearly) Everything part I: How I “got religion”

 
I thought it was clever financial planning. Banks thought it looked like deadbeat behavior.
 
Friends ask why I gravitated from academic philosophy to investment management and personal finance. And some wonder why I'm so preoccupied with credit scoring. This true story might shed some light on these questions.
 

A Credit Scoring Guide from an Insider who Speaks English, not Jargon

A review of John R. Ulzheimer's You're Nothing But a Number
 



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