Another bad day for wallstreet

Dow was down 450 points today and people are starting to really fear that it could turn into a depression. I sure wouldnt be in this market right now. Just waiting to see what happens with interest rates and how this will effect credit cards and the current credit card debt we have. This is going to get bloody on wallstreet

Huge Plunge in the dow today could effect interest rates!

The dow got clobbered toay closing off more than 500 points down. This will definately have an effect on peoples spending and their credit card usage, plus interest rates might go even lower now.

Start shopping at sam's club with your sam's club discover club

Now you can shop there with your sam's coub discover card and get bonus miles so you can either take a trip someplace nice or get a 2% cash back rate at the end of the year. Another great way to get something back for using a credit card to shop for your daily food needs.

Paying off credit card debt

Now i know that the economy is very weak these days in America so we gotta find ways to reduce our credit card debt down to a manageable level especially if our mortgage payments are larger then the worth of our house. Thank god that president bush has passed that new bill that will help to cut down a homeowners mortgage debt if the debt is larger then the value of the house.

From my understanding it works like this: Lets say your house value is 300,000 dollars and your mortgage is 330,000 dollars meaning you have a negative value on your home. This bill is supposed to shave off that 30,000 extra and help you renegotiate your mortgage. It will be interesting to see when we give that a try ina month or 2 and hopefully i will also pick the right credit cards to get my interest rate down too

How to pick the best credit cards

I will begin this blog by sharing my experience on which credit cards were the best ones for me.