Credit card complaint? File it with the government

By Jim Sloan

More than a few of us have felt our jaws drop when opening a bill from one of our credit card companies.

Maybe you were shocked to see that your interest rate had jumped on your zero percent credit cards or that there were fake credit card numbers on your bill. Or maybe those balance transfer offers were not as good as you thought, or that best cash back credit card you got didn't reward you the way you expected it to.

Chances are the details were outlined to you in the fine print of your credit card application. But if these surprises weren't included in that disclosure and that the charges are unfair or unjust, you do have the right to complain about your credit card company to a state agency or the federal government.

The first step

Before reporting your credit card company to your state or federal agencies, try to work out your differences with the company itself. Call and explain your problem to them and ask about what procedures you should follow to correct the problem.

If that doesn't help, you can file...

By Jim Sloan

Although the interest rates banks are paying these days are painfully low, students and others just out of college should consider opening a rewards checking account. Rewards checking accounts offer some of the highest rates around, and the little extra you can earn in interest with one of these accounts can go a long way when you're just starting out.

Rewards and returns

Rewards checking accounts pay interest on your balances up to a certain level but require that you meet certain levels of account activity.

According to USA Today, rewards checking accounts are often a better investment than certificates of deposit, which lock up your money for a set term. Also, these checking accounts often give you better access to your cash than even the best savings accounts or money market accounts. Interest checking accounts provide an incentive to save and are a great way to get established and handle most of your day-to-day financial needs.

Good interest checking accounts can be found with many of the best online banks. But in addition there are often excellent interest rates paid for rewards checking accounts with smaller local banks and credit unions.

Terms to be aware of when comparing rewards checking accounts

One of the best checking offers available these days comes from Consumers Credit Union...

By Jim Sloan

Let's face it: Interest rates for savings accounts are dismally low these days. You have to work pretty hard to find a bank paying more than 1 percent, and even then you don't know how long the best online savings account or high interest savings account will remain at the top.

MoneyRates.com has taken the legwork out of finding the best high interest savings for you with a recent analysis of approximately 100 banks to determine which ones provide the most consistently high yield savings and money market accounts.

Top 10 banks for savings accounts

The website does this quarterly by measuring the average rates offered by banks over each day of the three-month period to calculate the best high-yield savings account offered over the long haul. You can use this information to put your money in a high interest savings account that has a history of being consistently high.

For instance, even though the Federal Deposit Insurance Corporation recently reported that interest rates nationally averaged an abysmal 0.15 percent, the MoneyRates.com analysis found seven banks offering high interest savings above 1.00 percent in the first quarter of 2011. That list was headed by American Express Bank at 1.269 percent and was followed by Discover Bank at 1.224 percent and Capital One Bank at 1.221 percent.

Another measure of the consistency of this group of banks was the fact that...

By Beth Orenstein

College students now owe more money for their education than the nation owes on credit cards. According to a recent story in the New York Times, last year, student loan debt outpaced credit card debt for the first time. Not only that, but student loan debt is expected to top a trillion dollars - a figure that's hard to fathom.

The mountain of student debt is rising at a rapid pace. According to those who track it, in 1993, less than half of those graduating were in debt when they did so. Eleven years later, two-thirds of those receiving bachelor's degrees owed big time. Last year, those who borrowed money to attend college graduated with an average debt of $24,000 - as much money as their grandparents probably paid for their first home.

Burden of student debt likely to worsen

The situation is only likely to get bleaker. Public colleges and universities may have no choice but to raise tuition and fees as the states reduce the subsidies they give them - states across the country are facing their own budget crises and have to cut somewhere. Higher education is an easy target.

Not only do graduates owe money for their schooling, but many also owe on credit cards. They'll be paying for a long time. And with the sour economy and unemployment still near 10 percent, how easy can it be to find a job that covers living expenses and debt payments?

Tips for digging out of student debt

So, if you're about to graduate and owe on loans and credit cards, what can you do to dig yourself out of debt?

By Kathryn Hawkins

I remember my first day of college well: Unloading my bags in my cubicle-sized dorm room, giving my mother a hug goodbye, and of course, checking out the credit card booths in the center of campus, where countless representatives offer free T-shirts and thousands of dollars worth of credit without explaining exactly how those shiny cards work. Although some of the best credit cards for students can be found there, most students, myself included, were looking for the free stuff. Luckily, I managed to keep my credit card debt under control--but a lot of my friends got into financial struggle that they're still struggling to escape from a decade later.

Want to help your teenagers learn financial responsibility before they head off for the wild world of college? Then consider making them authorized users on your credit card account while they're still under your roof. You may worry about them racking up huge bills, but in fact, teaching your children how to manage credit now with no fee credit cards linked to your account will help them avoid getting into debt later. Here's why you shouldn't be afraid to hook your kids up with credit cards.

1. A supervised environment is the best place to start. A student credit card is all too often many people's first exposure to credit cards. However many find themselves unprepared since they often have little understanding of cards' payment terms and interest rates. As a result, students often get in over their heads: In a 2008 survey, Sallie Mae found that the average college student...

By Kathryn Vercillo

Spending is on the rise in the midst of flu season. What you may not realize is these things feed into each other.

The more time spent with others and the more money your hands touch the more likely it is that you're going to get sick. And if you think dirty cash is the only way that money makes you ill, think again. Those credit cards you whip out to pay for new gadgets and dinners with loved ones are also covered in germs.

5 reasons credit cards collect germs

Here are the five biggest reasons credit cards are likely to carry germs:

1. Flu germs remain alive on surfaces. That includes the plastic of your credit cards. These germs can live anywhere from a few hours to several months!
2. Germs thrive in the conditions where you keep your credit cards. Most people store credit cards in wallets, purses and pockets. These are all dark, warm, slightly moist places--great conditions for germs to thrive.
3. You're too casual about where you place your credit cards. You set credit cards down on counters and stick them into restaurant cardholders. Instead...