Eddie On Everything

Tips & tricks on things that interest me

Entries Tagged ‘finance’

Citibank Asks For Your “Password” When You Call Customer Service

I’m a long-time Citi Dividends card holder, and I recently received a new card in the mail. I called the number provided on the card to activate my new Dividends card, and after entering all of my information I was redirected to an actual live person to complete the card activation. Credit card companies like [...]

American Express Offers 1.30% Personal Savings Account

Got some mail today from American Express. They’re now offering personal savings accounts that pay 1.30% APY. In this rough and tumble economy, that’s a pretty good deal. Emigrant Direct is currently offering just 1.00%, while Dollar Savings Direct is paying 1.10%. With PERSONAL SAVINGS FROM AMERICAN EXPRESS, you can have the same peace of [...]

How can I deposit a check for someone else?

I’m seeing a lot of people coming to this site asking “Can I deposit a check for someone else,” and “Can I deposit a check made out to someone else?” The quick answer is “Yes, you can.” You only need to have that person sign the check over to you. To do so, follow the [...]

How To Sign A Check Over To Someone Else

As a local slumlord, I rent to a lot of tenants who don’t have their own checking accounts. What they do have, though, are checks made out to them from their employer. And I want ‘em. I’m kidding – I’m not really a slumlord. (Honest!) But I do occasionally need to accept & deposit checks [...]

ING Keeps Hawking Their Easy Orange ARM Without Calling It An ARM

A few months back, ING sent me a direct mail piece advertising their Easy Orange Mortgage. ING’s Easy Mortgage is an Adjustable Rate Mortgage, or ARM, though they go to great lengths to never use the term “ARM” in their promotional pieces. Looks like they’re at it again. I received yet another advert pushing their [...]

What’s the difference between a Fixed Rate and an Adjustable Rate Mortgage? (ARM)

When financing a home, there are two major types of mortgage financing, a fixed rate mortgage and an adjustable rate mortgage (ARM). A fixed rate mortgage is a loan in which the interest rate does not change during the term. Conversely, with an adjustable rate mortgage, the interest rate is periodically adjusted during the repayment [...]

ING Direct Easy Orange Mortgage – Not As Easy As You Think

I got a postcard from ING today. They are inviting me to convert my mortgage to an “Easy Orange” mortgage at the unbelievably low rate of 3.875%. As with most things that sound too good to be true, this deal almost certainly is. And a quick inspection of their website seems to indicate that ING [...]

How much does a fountain soda pop like Coke actually cost a Restaurant?

In short – not very much. According to this article at Newsweek, the syrup to make a single cup of Coca-Cola costs $0.000052, or .0052 cents. The concentrate for 70 percent of Coca-Cola’s 1.5 billion drinks served each day originates in the tax haven of Ireland, where enough concentrate for 50,000 Cokes costs $2.60—including labor. [...]

What does it mean to be “upside down” on a loan?

Q: What does it mean to be “upside down” on a loan? I keep hearing this term on talk radio shows. (Like Dave Ramsey.) A: Usually used in the context of car loans, the term “upside down” means that the car is worth far less than the amount of money owed on the loan. For [...]

Is there any advantage to putting money into a CD rather than a regular savings account if each pays the same rate?

Question: Hi, I was wondering if there is any advantage to putting money into a CD versus a regular savings account (like Emigrant Direct or ING) if the rates are same or very close. On the one hand, a savings account is more liquid than a CD. On the other, a CD is set at [...]

  

Buy me a Coke!