Closing an account can hurt your scores, but data breaches may mean your card issuer closed your account and opened a new one with a new number. Will you be penalized?
You’ve no doubt heard that closing a credit card can hurt your credit scores. But sometimes it can’t be avoided. If you were one of those affected by the recent data breaches, for example, your card issuer may have closed your account and issued you a new card under a different account number.
Members of the Consumer Bankers Association (CBA) and the Credit Union National Association (CUNA), say they have replaced 21.8 million of the 40 million compromised cards to date. Presumably, those new cards will be reported to the credit reporting agencies.
Does this mean your credit scores may take a hit just because you were a data breach victim?
While it’s certainly possible, it’s not likely, due to the way replacement cards are reported. But there is a hidden danger there that can hurt your scores even more than a new account ever would.
If you haven't enrolled by the end of this month, it could be a long wait until the next enrollment period.
This post comes from Barbara Marquand at partner site Insure.com.
If you've been putting off shopping for health insurance for 2014, beware that you'll miss your chance if you wait too long.
Open enrollment -- the time when you can purchase an individual or individual family health plan for this year -- will end March 31. This open enrollment period does not apply to people who buy their health insurance through work; your employer will still hold its own open enrollment period, usually in the fall.
For those seeking individual plans, if you haven't bought a health plan by end of the day on March 31, then you'll have to wait until the next open enrollment period, unless you have a special circumstance, such as losing coverage at work or having a baby, and qualify for "special enrollment."
The open enrollment for 2015 health plans is set to run from Nov. 15, 2014, through Jan. 15, 2015.
|Tags:||healthhealth carehealth insuranceinsuranceinsurance claimsinsurance companiesinsurance ratesInsure.comObamacare|
Casual dining restaurant chains have jumped on the happy hour train with deals on drinks and snacks -- maybe enough for dinner.
In a few cases, checks that have been deposited electronically have also been deposited the traditional way.
This post comes from Gerri Detweiler at partner site Credit.com.
No time to get to the bank to deposit a check? No problem. Many banks and credit unions let customers save a trip by snapping a picture or scanning an image of the check and transmitting that to them online or on their smartphone. It’s very convenient.
But is it safe? If all it takes is an image of a check -- and not the actual piece of paper -- what’s to stop someone from depositing a check more than once?
That’s exactly what happened to me recently.
A couple of months ago I wrote several checks from an estate account I am administering. I wasn’t monitoring the account frequently online, as I do my own account. A recipient of one of the checks, a charity, reached out to say it had accidentally deposited the same check twice: electronically the first time and in person at a financial institution the second. The charity caught the mistake before I did and made good on it by sending a reimbursement check right away.
“Most banks catch the problem before the items post (twice) in the checking account,” says Bob Meara, senior analyst with Celent, a financial services research and consulting firm.
But the system is not perfect.
From Grandma's china to your baby's old clothes, we tell you where to get the best possible price for all your extra stuff.
This post comes from Maryalene LaPonsie at partner site Money Talks News.
Believe it or not, this winter's snow and cold will eventually be a thing of the past. And with the spring will come the nearly irresistible urge to purge your house of all the extra stuff that is lurking in the closets, hanging out in the garage or hiding under your kids' beds.
While a yard sale can be a quick and easy way to unload all those extras, you'll never get top dollar for items sold to local bargain hunters. If your goal is to make as much money as possible, here are some of the best places to sell your stuff.
If you have brand-name or designer duds in good condition, your best bet is to take those items to a local consignment shop. Depending on their policy, you might get paid up front or you may only be paid if an item sells.
How much you get also depends on the store; some split the selling price 50/50 while others may give you more or less. In addition, you might make more if you accept a store credit instead of cash for your items.
Before you load up your bags full of clothes and head to the store, make a visit to check out the shop first. Different stores cater to different clientele, and consignment shops tend to be picky about what they accept. Then, when you do bring in your clothes, make sure they are freshly laundered and folded.
If you live in an area with no consignment shops nearby, you could use an online option such as ThredUp.com, Tradesy.com or Swap.com. But, depending on your items and the particular site, you might not get as much as you would through a local shop.
There are some compelling reasons to do it -- but some strong arguments against it as well.
This post comes from Christine DiGangi at partner site Credit.com.
During a 2012 campaign stop, Republican presidential candidate Mitt Romney famously told students to chase success by taking risks, getting necessary education and borrowing money from their parents, if need be.
Critics skewered the wealthy Romney for being out of touch, because most people's parents probably don't have the kind of money to dole out to their adult children on demand.
But hey, if it's an option, why not hit up the Bank of Mom and Dad for a loan? There are plenty of advantages of borrowing from your parents, rather than a financial institution, but there are some big drawbacks, too.
|Tags:||creditcredit reportscredit scoreCredit.comfamilyfamily moneyfinancial privacygetting startedloans|
Here are a few shopping tips to help you save money in the coming month.
This post comes from Lindsay Sakraida and Louis Ramirez at partner site DealNews.
Spring is at our doorstep, and even if you're planning to stay glued to the couch for all of March Madness, you'll also likely be doing a bit of spring shopping.
To help you save big, we've mined the extensive DealNews archives for sales, coupons, daily deals, and individual products from the past few years to guide you in your quest to make the most savvy purchases this month. From chocolates to gaming consoles, here are the best and worst things to buy in March.
Treat yourself to chocolate
Did you not get the sweets you hoped for on Valentine's Day? Well luckily you can peruse high-end chocolate shops for any lingering V-day treats. As always after a holiday, themed sweets go on sale at any store with overstock.
This month, look for treats that haven't been gobbled up and you'll find discounts of up to 50 percent off at places like Godiva. Also, check the gift section of department stores for other decadent ways to treat yourself on a budget.
When you're young and on a tight budget, you don't have to sacrifice your diet to keep food costs in check.
This post comes from Ryan Ermey at partner site Kiplinger.
I never knew how expensive food could be until recently. After I graduated from college, I was going out and swiping a card to pay for meals like I always had. It didn't take long to realize that this was my actual money and not just my prepaid (by my parents) meal points I was spending. I was, literally, devouring my budget.
But when I tried to spend less at restaurants and cook more at home, things didn't get a whole lot better. I was saving money on food, to be sure, but I was feeling far less energetic and gaining weight. As it turns out, a steady diet of Rice-a-Roni and spaghetti is filling and very cheap but not all that nutritious.
I needed to find a way to eat healthily on my intern's salary, so I spoke with Sonya Angelone, a registered dietitian-nutritionist and spokeswoman for the Academy of Nutrition and Dietetics. Now, implementing some of her ideas, I'm maintaining my tight budget for groceries but getting more, healthier meals for my money — and my clothes are fitting better. Thanks, Sonya.
Here are some healthy eating strategies for those of you who are as broke as I am. If you take some time to pay attention when making small decisions about your food every day, you'll be happier, healthier and richer for it.
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