Credit Card Rates have remained stable due to the Fed remaining steady on interest rates. There was the thought that the Fed was preparing to drop the interest rates, but in light of recent financial news that suggests a hotter US business market than though, the rates will most likely stay the same or even be raised the next time the Feds meet.
Mortgage rates have risen again in what is normally a slow Holiday week. The rates rose 3 basis points to a 6.23 national average. Rates have risen slightly over the past few weeks.
Also sales of new homes rose this month after a dip in recent months. This uptick in the new home market was not what was expected.
On December 29, 2006, In Credit Cards, Misc, By MoreMerchant
I came across a great article on South Florida’s Sun-Sentinel about how cities are spending enormous amounts of money on credit cards in order to receive cash back rebates from the credit card companies.
Here are some excerpts from this article.
I like the extra thought put into saving money, but the rewards can be a place for employees stealing if not properly tracked. Also if it costs more to earn this way, then it isn’t a good plan either. If in the long run this makes the cities earn more than it is the way to go.
On December 22, 2006, In Misc, By MoreMerchant
Our Credit Card and Gift Tips Site has this tip about gift cards:
Sometimes, in fact, cash is a better gift, according to Gary Brown, director of the Westchester County Department of Consumer Protection. “Cash may not seem as ‘personal’ as a gift card, but cash doesn’t expire, there are no fees and people who receive a gift of cash tend to spend only that amount. Ten percent of gift cards end up going unused, which is why merchants love them.”