Personal Finance

This Week in Credit News: Simpler Credit Cards

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Credit NewsThe biggest news this week is all about credit cards that are easy to understand, as consumers search for less confusion and more perks.

The Simplest Credit Cards in America

Consumers tend to shy away from complicated products for good reason — fine print can be the downfall of even the most well-intentioned consumer. So we decided to highlight some of the best simple credit cards on the market today.

Our winner of the most recent “Best Credit Cards in America” series is the PenFed Promise card, which states that it’s the only credit card on the market with absolutely no fees. The credit card is an excellent one, with no annual fee, no foreign transaction fee, no balance transfer fee, no cash advance fee, no late fee and no penalty APR. And the standard APR isn’t too shabby either, at 9.99% based on the current Prime Rate.

@CreditExperts

Airline Merger Mayhem: How to Score With Credit Card Rewards

With news last week that US Airways and American Airlines are merging to create the world’s largest airline, many credit card customers with airline miles programs were understandably nervous. However, not a whole lot will change until the merger is official, which is a few months off at least.

For now, consumers can actually take advantage of both of the airlines’ rewards programs and cash in on some sign-up bonuses that can be used at both airlines. Read the full article for more details.

@SteeleStreet @CreditExperts

I Was a Victim of an Online Dating Scam

Valentine’s Day has more Americans looking for love, and scammers are taking note. The FBI says “romance scammers” are a growing problem among lonely Americans.

The scam goes something like this: scammers find men and women on a dating site, strike up a relationship that is online-only, then proceed to tell a tall tale of destitution or ask for money that they will eventually pay back. Many scammers aren’t even located in the U.S., according to the CNN story. The target victim tends to be female and over the age of 40.

@CNNMoney @melhicken

Image: NS Newsflash, via Flickr

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