Credit Card Secrets

You may think all this talk about the Fed raising rates (or not) doesn't affect you. After all, your mortgage rate is locked in for the next 30 years or so, and that's really the only place a rate increase could affect you. Think again. Look in your wallet and count your credit cards. Now, do you know how many have a fixed or floating rate? Do you know what those rates are? The top story on www.msn.money today was concerning credit cards and their dangerous trends - trends you may not be aware of. The bottom line? Pay attention! And...pay them off! Speaking of rates, Bernanke delivered a speech this morning concerning interest rates that made stocks come to a screeching halt. Then about mid-day, the market mysteriously jumped up. Some say it was a technical move, others claim it was cash moved in from the European market, and at least one rumor led to Osama bin Laden. Whatever the cause, it didn't last long. Thanks to oil prices and higher bond yields, the market ended down today. DJIA: -39.06 Nasdaq: -19.88 S&P 500: -7.85