Advertisement
Credit & Debt

Great Advice From Around the Web, Week of 9/24/12

A weekly look at personal finance tips and insights others are offering.

I recently was discussing with credit expert John Ulzheimer the fact that I have a retail credit card. Ulzheimer, who is the president of Consumer Education at SmartCredit.com, has written about the cons of retail cards. He says that these cards are a bad idea for most consumers for several reasons -- namely their low credit limits and high interest rates. I asked him, though, whether these cards can ever be a good idea for some consumers.

Advertisement - Article continues below

DOWNLOAD: The Kip Tips iPad App

I have a retail card from a store where I shop for clothing for myself and my three children. I always pay off my balance, and I earn rewards (in the form of discounts) that allow me to pay less for items I would normally purchase (not things I'm splurging on or buying just because there's a discount available). Ulzheimer says that, in my case, the card makes sense because I'm using it responsibly. Matt Brownell of Credit.com agrees that careful consumers can benefit from the perks of retail cards and offers advice on what to look for if you sign up for one of these cards. See What a Good Store-Brand Card Looks Like.

Advertisement
Advertisement - Article continues below

Here's a roundup of more great personal finance advice from around the Web:

The Joneses Are Buying an iPhone5. What Should I Do? [Enemy of Debt]"Here are just a few reasons I think you should not buy this new technological masterpiece."

3 Ways to Save When You Buy Apple Products [MoneyNing]"As long as you aren’t picky about having the newest gadget as soon as it comes out, these tips might also work for you."

6 Tips for Using New Disposable Income [Consumerism Commentary]"There is going to be a strong desire to increase your spending on unnecessary things once you see that you have money left over each month."

How to Turn a Hobby Into a Business [Generation X Finance]"When you combine the love for an activity with the ambition to make some money along the way, a business is born."

You May Have a Higher Net Worth Than Our Vice Prez! [Budgets Are Sexy]"Whether you’re a famous politician or just famous to all your friends, we all need to pay attention and continually make sure we’re heading in the right direction."

Follow me on Twitter

Advertisement

Most Popular

What Are the Income Tax Brackets for 2020 vs. 2019?
tax brackets

What Are the Income Tax Brackets for 2020 vs. 2019?

The IRS unveiled the 2020 tax brackets, and it's never too early to start planning to minimize your future tax bill.
June 20, 2020
Tax Changes and Key Amounts for the 2020 Tax Year
tax law

Tax Changes and Key Amounts for the 2020 Tax Year

Americans are facing a long list of tax changes for the 2020 tax year...and it's never too early to start thinking about next year's return.
June 22, 2020
10 Tax Breaks for the Middle Class
tax deductions

10 Tax Breaks for the Middle Class

Tax breaks aren't just for the rich. There are plenty of them that are only available to middle- and low-income Americans.
June 30, 2020

Recommended

Nursing in the Time of COVID-19
Financial Planning

Nursing in the Time of COVID-19

This health care professional warns that the pandemic will worsen the nursing shortage.
July 2, 2020
For Financially Responsible Kids, Do NOT Do These 3 Things
family savings

For Financially Responsible Kids, Do NOT Do These 3 Things

The key to putting your kids on the right financial path can be boiled down into one sentence.
July 1, 2020
10 Tax Breaks for the Middle Class
tax deductions

10 Tax Breaks for the Middle Class

Tax breaks aren't just for the rich. There are plenty of them that are only available to middle- and low-income Americans.
June 30, 2020
Chiropractor Trying to Get Business the Wrong Way – Illegally
careers

Chiropractor Trying to Get Business the Wrong Way – Illegally

A new chiropractor’s fledgling business plan to attract patients may sound reasonable at first look, but it’s actually against the law, and the same p…
June 30, 2020