May 25
Going away this Memorial Day weekend and renting a car? You can save some money at the car rental counter if the credit card you use to pay for your car rental offers rental car insurance. Most credit cards do. Since car rental agencies charge about $17 to $20 per day for their own CDW (Collision Damage Waiver) you can save a lot of money during a one-week vacation or even a weekend trip.
Rental car insurance isn’t actually “insurance,” (and it doesn’t go by that name) because rental car agencies aren’t licensed to issue insurance. Instead, it’s called “Collision Damage Waiver” (CDW) or “Loss Damage Waiver,” and it basically “waives” the right of the insurance company to force you to pay for damage to the rental car.
Is it really insurance? In that it “insures” yo
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Tags: Credit Card, Insurance
May 25
As the baby-boomers prepare for retirement reverse mortgages are going to be the next mortgage boom according to most analyst. The baby boom began in 1946 and continued through 1964. During those 19 years, 76 million people were born. As this segment of America begins to retire a large portion of them will need to rely on their homes equity to make â??ends meet.â? How they access that equity will be the mortgage industries primary focus in the years to come.
The traditional â??forwardâ? mortgage has the homeowner borrow the money by way of a traditional mortgage or home equity line and make payments on that amount. The homeowner takes the money, places it in a safe interest bearing account and uses the money to augment their income. The int
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Tags: Mortgages, Reverse Mortgages
May 25
We’re expected to spend a massive £100bn on our credit cards during the summer months.
One way to ease the pressure is to take out a card that charges no interest on purchases ? but be aware of the traps.
A year ago, there were scarcely any cards offering 0% for more than three months, but now the situation is easing.
‘In the past few years, worries over the credit crisis and rising unemployment meant card providers severely cut back on offers,’ says Michelle Slade, of financial researcher Moneyfacts.
‘Now the market has improved, credit card companies are showing they are back open for business by launching a range of competitive deals.’
The longest offers come from the Virgin 12/12 card and Sainsbury’s Bank, which have no interest on purchases or balance transfers for 12 months.
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Tags: Card, Credit Card