by Scott Bilker
Hi,
If you plan to shop during this holiday season, make sure you have a budget. The only bad part of budget is the word itself. I recently heard my friend, and famous financial author,
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I've found a few more good credit deals that I want to bring to your attention. If you have high-rate debt, then you should apply online now and transfer your balances to some of these cards. (Or search through the entire list.)
by Scott Bilker
The holiday season is here! If you went shopping last Friday, Black Friday, then I'm sure you noticed the rush to spend money! Since you will have to spend, you need to spend smart. Spending smart, to me, means getting a high quality gift at a great price.
You don't have to empty the bank to deliver expensive gifts to family and friends. It is the thought that counts. That being said, here are some suggested gifts for this season.
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by Jay Peters
I never thought I'd be emailing you because sometimes I find that the tips and tricks you send out do not apply to me--it seems more complicated than my actual finances. You see, there are no taxes here in Dubai, no 401k-funds either, but I enjoy reading your money tips and tricks and how-to's on dealing with banks.
Anyway, there's one tip that stuck to me, which I read when I was new to your site/column. It's to contact your bank to request if you want them to reverse charges, give you leeway on payments, or whatever your situation requires.
Hi Scott,
I really enjoy your newsletter and thank you for all your great ideas and inspiration over the years.
I was horrified to discover today that I was hit with a $39 late fee for failing to pay $21 on my no interest credit card at Best Buy through HSBC. I make it a point NEVER to pay interest or penalties on any of my credit cards, and this was a rare oversight on my part. I called HSBC Customer Service and was told they would be willing to give me a 50% discount on the late fee.
I explained that I wanted the entire fee waived, but she refused. I asked to speak to a manager but was put on hold for an excessive period of time. I decided to call back and be more insistent, to the point of threatening to close the card if they did not waive the entire fee. I got the same response. I then made the following points:
1) This was a one-time oversight. 2) I have never asked for a fee waiver before. 3) I have accounts with HSBC in three countries. 4) I have at least half a dozen credit cards with HSBC. 5) I will not pay 100% (let alone 200%!) in penalties simply for missing a small payment. 6) I will close my accounts (ALL of them) if I do not get a full waiver.After waiting a few moments, the customer service rep came back and said that it is not their policy but that because I am such a good customer, her manager agreed to waive the entire fee in the amount of $39.
As a single parent and Realtor struggling in a tough real estate market, with no income for the foreseeable future, every little bit counts. It just goes to show you, it pays to be insistent!
Thanks for inspiring me to threaten closing down my accounts--and meaning it. I hoped it would pay off, and it certainly did!
Continued Success,
J.A., Madison, WI
by Scott Bilker
Jack and Jill put their house on the market to sell when 30-year fixed mortgage rates were 8%. They listed their 3-bedroom ranch for $135,000 because they knew that the monthly payment is exactly what most people can afford.
Since that time 30-year mortgage interest rates have fallen to 7%. Jack and Jill know that since mortgage rates have dropped people can afford to pay more for their house with the same monthly payment they would get at the old, higher rate.
How much can Jack and Jill sell their house for now and keep the monthly payment as affordable as it was when they originally put the house up for sale?
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