This is not surprising based on the state of the economy and the number of people underemployed, unemployed and concerned about their future. Some don’t have enough to make ends meet and have acquired lots of debt. Savings interest rates are very low (.138%), while credit card interest rates are very high (the lowest is 12%). Looking at the math, because you make next to nothing on savings, shouldn’t you pay off the high interest debt instead? But don’t you still need to save?
You still need savings for emergencies and future expenses. Examples of emergencies are home and/or vehicle repairs, job loss, and medical expenses. Future expenses are education, vehicles, mortgage down payment and retirement. Since the early 2000’s, credit cards have been used as the cushion for emergencies instead of savings, because of the convenience it offers.
No matter what type of credit card account you need, the Bank of America credit cards will offer an account that meets that need. This major credit lender offers variety in both the type of credit account and in rewards and special offers.
Bank of America Corporation is a financial services company and, by assets, the large bank holding company in the US. The reach of BAC serves clients in over 150 countries and has a business relationship with 99% of the Fortune 500 companies.
The acquisition of Merrill Lynch in 2008 made the Bank of America the largest wealth manager in the world and it became a real player in the investment banking industry. Along with Citigroup, JP Morgan Chase and Well Fargo, Bank of America is one of the Big Four banks in the United States.
First established in San Francisco in 1904 as the Bank of Italy, this lender was designed to serve immigrants who at the time were denied financial services by other banks.
We’ll admit it: few of us are thinking about tax season in August. With beach season in full swing, it’s one of the least appealing things to focus on. Yet spending a few minutes on next year’s taxes might pay off in a big way. There are actually a number of summertime tax deductions you can take advantage of as long as you know what they are and how to claim them. Today, let’s put down the sunscreen and examine six ways to write off your summer.
Could it be true? Is it really possible to write-off the cost of a summer vacation? The answer: it depends. TurboTax wrote an extensive post on this very subject last June, which states:
Uncle Sam loves money. Uncle Sam loves money so much that he’s willing to give you a tax deduction to help you make even more, so he can collect a little extra in taxes. You can use this to your advantage because you can deduct any “ordinary and necessary expenses” related to the pursuit of business, including trips.
A recent poll has suggested that the base interest rate is unlikely to be increased over the course of this year, which is something that will bring relief to many homeowners and borrowers who are already struggling to make ends meet due to soaring costs and bills. The data comes from the latest Reuters poll of economists, which reveal that there is now only a 30 percent chance that the Monetary Policy Committee will increase the base rate from its current record low of just 0.5 percent where it has been for well over two years.
However, economists are predicting that there will be a base rate increase in the first quarter of next year although some believe that the next rate hike could be at least one year away, perhaps even longer.
While credit card fraud is a form of identity theft, not all identity theft is credit card fraud. It just so happens that identity theft involving credit cards is the type you are most likely to hear about on a regular basis. This type of theft usually occurs in one of two ways: the thief can physically steal a person’s credit card number and then use it to make transactions that do not require photo ID, whether it’s because the purchase is for a small amount, it’s somewhere like a gas pump where there is no clerk present or it is transacted by a clerk who just doesn’t follow procedure by asking to see identification.
The second way is through phishing scams, in which a thief sets up a bogus website and the consumer is fooled into typing in his or her credit card information.
BP has reportedly lost a laptop containing the personal information of approximately 13,000 people who filed claims against the company following the oil spill disaster last year. The laptop allegedly went missing on March 1, but the loss did not become public until this week, when the company began mailing out letters to individuals whose information was stored on the computer.
Tom Mueller, a spokesperson for the company, confirmed they had written to “individuals impacted by this event to inform them about the loss of their personal data and to offer them free credit monitoring services to help protect their personal information.”
BP refused to comment about the employee who lost the laptop.
- Identity theft starts with the misuse of your personal identifying information such as your name, Social Security number, credit card numbers, or other financial account information.
- Check your credit report from each of the three major credit bureaus every year.
- Open your credit card bills and bank statements right away. Review your statements and close unused accounts. Be aware if bills don’t arrive on time. It may mean that someone has changed contact information to hide fraudulent charges.
- Don’t carry your Social Security card or PIN numbers in your purse or wallet because of what can happen if they fall into the wrong hands.
- Avoid giving any personal information over the phone, mail, or Internet unless you know who you are dealing with. Give it to them in person instead.
- Criminals pretend they are collecting money for victims of a natural disaster.