banks are now ramping up credit card acquisition programs by boosting incentives for opening new credit card accounts. There are now many opportunities for consumers to get valuable bonuses when you open a new credit card account
Bayside, NY (PRWEB) January 19, 2012
Personal Finance expert Walter Edelstein, CFP® is providing updated financial advice on how credit card sign-up reward programs are heating up along with how consumers can move previous employers 401(k) plan money to an Individual Retirement Account. TheAdvice.com family of sites continues to provide consumers with free information and advice to help them achieve their savings and other financial goals.
With major banks being squeezed on debit card fees “banks are now ramping up credit card acquisition programs by boosting incentives for opening new credit card accounts. There are now many opportunities for consumers to get valuable bonuses when you open a new credit card account” according to Edelstein.
"With individuals changing jobs it is important to seriously consider transferring the money held in an old employers 401(k) to a self-mangaed IRA account. It is a fairly straightforward process", notes Mr. Edelstein.
As credit card companies face new laws and regulations that limit how they are able to charge fees to their customers, the companies are competing harder with one another for new customers. Because credit card issuers are reluctant to drop their interest rates too low, many are now competing on the basis of certain “extras,” perhaps the most popular of which are the bonuses that new customers receive upon opening a new account. Consumers need to carefully consider what the best deal for them may be.
Instead of offering pension plans, employers have shifted to offering 401(k) plans. With a 401(k) plan the obligations are now on the employee to contribute funds directly and to decide how to invest those funds. Employees are also responsible for eventually moving the funds when they change jobs. The process of moving funds out of an employer-sponsored 401(k) plans (usually to an Individual Retirement Account) is known as a “rollover.” Consumers shouldn't be intimidated by this straightforward process.
TheAdvice.com financial advice network also includes several other information packed sites:
- Banking Advice – Discover the ins and outs of checking accounts, savings opportunities and other services offered through banking institutions.
- Insurance Advice – Find answers to many insurance questions including how to secure the right coverage for all home, health, life and automobile insurance needs.
Mr. Edelstein has financial experience that spans over thirty years. It includes being a Certified Financial Planner™, having a Master's Degree from Columbia University, and having served as Chief Marketing Officer for a major online bank where he honed his online marketing skills to help consumers achieve their financial goals.
TheAdvice.com proudly reaches out with this new network of financial websites to help individuals and families discover the path to financial knowledge.