MoneyCafe.com

This is a look at some of the best interest rates for deposits and loans from national banks and lenders. (Surveyed Monday morning.)

Rates are APY (Annual Percentage Yield)
Assumption: $10,000 deposit

Rates are APR (Annual Percentage Rate)
Assumptions when available:  $320,000 conforming loan,
20% down, excellent credit, documented income,
priced with approximately 1 point loan cost (+/- .25 point)
California property  (Rates Survey between Friday and Monday)

It looks like banks are making another go at reducing credit limits.  A few months ago we warned about precipitous reductions in credit limits on home equity loans and credit cards.  SmartMoney.com is reporting that credit card issues are again getting “slash happy” on credit card limits.  In some instances credit card issuers have reduced limits below what is actually owed by the cardholder.  And the kicker, this is done without notice to the cardholder.  This situation not only puts the consumer in a bind when new charges are unexpectedly declined, but also instantly makes the account over limit unbeknownst to the cardholder.  As most know, being over limit can bring about higher interest rates and fees.  According to this article people are getting hit with fees in this situation.

Credit card companies are within their rights to reduce credit limits without notice.  They can also charge fees for being over limit.  However, to reduce a credit limit without notice and then charge extra fees is reprehensible and not what I would consider dealing in good faith with its customers.  If you have been hit by a fee for overcharging when you didn’t know or by being over limit when you had no chance to pay the account down, I would encourage you to contact the credit card issuer and request the fees be removed from your account.

If you have an experience with this situation, please share in the comments below.

See:
http://finance.yahoo.com/banking-budgeting/article/106716/How-to-Blow-Your-Credit-Limit-Without-Spending
http://moneycafe.com/blog/2008/12/credit-line-reductions/

Freddie Mac released their Weekly Primary Mortgage Market Survey today.  According to the survey, mortgage rates dipped slightly this week with an average 30 year fixed rate at 5.03%.  This is down from 5.15% last week.

See:
http://www.moneycafe.com/library/mortgagerates.htm

Google has a service called Google Tip Jar that allows people to share information and tips.  They have a Finance category where people share tips for saving money and dealing with your finances.  The Tip Jar is powered by Google Moderator software, which allows people to vote upon and rank the best tips.  Ideally, the best and most effective tips will rise to the top of the list.

See:
http://moderator.appspot.com/#15/e=3cfc&t=16fdf

ID Watchdog Identity Theft Protection and Prevention is currently offering 25% off of its products.  ID Watchdog searches thousands of databases for your records.  Every month, they search again, and compare your most recent data against a “baseline identity profile” that you have approved.  If there are changes, they alert you.  They claim that if your identity is breached they will work to restore your identity at no extra charge.   If you sign up for 3 years they are offering a 50% discount.

Want to check it out, they also have a program for a free 30 day trial. 

See:
Save 25% on ID Watchdog Identity Theft Protection.

Get 30 Days of 100% Protection Free! Don’t Settle For Less.

 
This is a look at some of the best interest rates for deposits and loans from national banks and lenders. (Surveyed Monday afternoon.)

Rates are APY (Annual Percentage Yield)
Assumption: $10,000 deposit

Rates are APR (Annual Percentage Rate)
Assumptions when available:  $320,000 conforming loan,
20% down, excellent credit, documented income,
priced with approximately 1 point loan cost (+/- .25 point)
California property  (Rates Survey between Friday and Monday)