Word: credit-card
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REVISIT YOUR CREDIT CARDS. Even nose-bleed rates have come down. Best deal: Pulaski Bank (800-980-2265) offers a Visa that charges annual interest of 5.5%. Pulaski also gives six months at no interest on transferred credit-card balances...
...uncertain as our retirement futures appear [BUSINESS, July 29], I am deeply bothered by the financial wastefulness and frivolousness of American households, as illustrated by Maria and George Rudd in your article. You noted that together the Rudds, who are in their 60s, earn $280,000 but have a credit-card debt of $45,000 and only $40,000 in savings and investments. The Rudds are only one example of the personal and corporate shortsightedness that has plunged our country into its present financial quagmire. What ever happened to "A penny saved is a penny earned"? BRIAN FURIO New Freedom...
...REVISIT YOUR CREDIT CARDS. Even nose-bleed rates have come down. Best deal: Pulaski Bank (800-980-2265) offers a Visa that charges annual interest of 5.5%. Pulaski also gives six months at no interest on transferred credit-card balances...
...well (free spenders with good incomes while in their careers) but did not save enough and have already run out of cash or will soon. This group is "flipping out," Dychtwald says. Take George and Maria Rudd of Miami. Together they earn $280,000 a year but have more credit-card debt ($45,000) than savings and investments ($40,000). George, 69, is a construction manager and wants to retire in two years. Both he and Maria, 62, a financial-services compliance officer, rue their profligate lifestyle--for instance, they cashed in 401(k) savings...
...really the thing that keeps them in the game," says Matt Stamski, a senior analyst at Gomez, an Internet consultancy. Egg offers an interest-free, six-month introductory period on its credit card, and afterward a modest annual percentage rate (A.P.R.) of 13.9%. Smile gives current-account holders a credit-card rate of 9.9%; non-account holders pay 12.9%. High Street banks' credit-card A.P.R.s are as high as 24.9% on a standard card. The big banks are hardly standing still. Barclays, for example, invested $468 million last year to improve its website; Smile, in contrast, will spend no more...