Avoiding debit card fees

Posted by administrator | 14/06/12 | Tagged Credit Card

Avoiding debit card fees
News from Detroit Free Press:

Just how do we get banks and other financial firms to stop using pretty plastic like crack? Why are some student loans connected to a debit card with costly fees?

We’re hearing about the campus debit card trap from the U.S. Public Interest Research Group, or PIRG.

Rich Williams, higher education advocate for U.S. PIRG, said the debit cards are the new fee generator, now that there are more restrictions on credit card promotions on campus.

The lure of the prepaid or debit cards for students is that typically you could get access to financial aid or student loan cash faster than, say, if you’re mailed a check.

This fall, Wayne State University plans to launch a card involving a partnership with Higher One, a financial firm with card agreements at 520 campuses nationwide.

Jim Barbret, controller and associate vice president for fiscal operations at Wayne State, said Wayne State’s students still can have a check sent to them to receive what money is left from student loans and financial aid after tuition. Or the money can be directly deposited to the bank or credit union. Or the money would be deposited via a Higher One debit card.

“One of our driving principles is we give them the options, they make the call,” Barbret said.

This is money that typically is used for books, housing and other…………… continues on Detroit Free Press

… Read the full article
.

Related News:

CreditCards.com Weekly Credit Card Rate Report: Credit card …
News from Sacramento Bee:

/PRNewswire/ — Interest rates on new credit card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Report.

(Logo: http://photos.prnewswire.com/prnh/20090210/CCLOGO)

­­The average is composed of 100 of the most popular credit cards in the country, including cards from dozens of leading U.S. issuers and representing every card category. Introductory (teaser) rates are not included in the calculation.

Rates for card categories tracked by CreditCards.com are listed below:

Credit Card Averages

Avg. APR Last week 6 months ago
National Average 14.92% 14.92% 15.22%
Low Interest 10.40% 10.40% 11.17%
Balance Transfer 12.46% 12.46% 13.08%
Business…………… continues on Sacramento Bee

… Read the full article


Fine Leather Hand Crafted Mans Man’s Mens Men’s Mini Wallet Credit Card Holder with Magnetic Money Clip
This is for a Brand NEW Super Slim Wallet Card Holder with Super Secure Megnetic Money Clip.

NOTE: MEGNETIC MONEY CLIP WITH ANTI…

How You Can Profit from Credit Cards: Using Credit to Improve Your Financial Life and Bottom Line
 “This book is a must-read for credit card holders of all ages. Curtis Arnold offers insights into how consumers can not only p…

Fed Survey: Recession Shrank Card Debt, Crushed Household …
News from Fox Business:

The majority of consumers responded to the recession by shedding cards and paying off their credit card debt, according to data released Monday by the Federal Reserve.

The number of families carrying a balance on their credit cards fell substantially between 2007 and 2010, according to the 2010 Survey of Consumer Finances, a triennial look at Americans’ income, net worth and debt. The Fed’s 2007 report was published in 2009; data from 2010 was released Monday. According to the survey, 39.4% of families said they had at least one credit card with a balance on it, down 6.7% from 2007.  

“The decreased prevalence of credit card debt outstanding was widespread and noticeable across most of the demographic groups,” said the Federal Reserve. However, not all groups shed their reliance on credit cards. According to the survey, families headed by someone age 75 or older were more likely to carry credit card debt in 2010 than in 2007. Meanwhile, families headed by someone without a high school diploma also relied on credit cards more heavily after the recession.

Post-recession snapshot

Based on 6,492 interviews with U.S. consumers, the Fed’s Survey of Consumer Finances is among the most widely accepted, accurate snapshots available of America…………… continues on Fox Business

… Read the full article
.

Related News:

Credit card debt plaguing fewer consumers post-recession
News from Debtmerica Relief:

The recent economic downturn caused many consumers to reassess the ways in which they dealt with credit card debt, and millions seem to have been successful in slashing their reliance on their accounts.

Between 2007 and 2010, the amount of credit card debt carried by the average American family as a portion of their total outstanding balances took a significant tumble to just 2.9 percent, down from 3.5 percent, according to new data from the Federal Reserve Board’s most recent Survey of Consumer Finances. Further, the percentage of families nationwide who carried a balance on these accounts declined to 39.4 percent of all households, down from 46.1 percent three years prior.

And those who carried a balance were also able to successfully cut them, the report said. The median balance from those who carried one fell about 16.1 percent to just $ 2,600, and the average balance dropped 7.8 percent to $ 7,100.

Many consumers also saw seriously delinquent

… Read the full article


BMV Quantum Subliminal CD Get Out of Debt: Reduce Personal Debt and Consumer Debt (Ultrasonic Subliminal Series)
Program your subconscious mind to get out of debt, pay off your consumer debt and stop creating personal debt. Create amazing resu…
Victor V14 Personal Financial Calculator For DummiesTM
Introducing the Personal Financial Calculator For Dummies . . . a fun and easy way to manage personal finances with new-found know…
© 2017. Credit Card Talk