Citi CashReturns MasterCard - Credit Card Deal of the Year

Nowadays, given the developing credit crunch in the financial market, card issuers are slashing rewards and hiking rates, making it much harder for prudent spenders to get rewarded from card usage. Therefore, good credit card deals are few and far between these days, forcing us to settle for 1% or 1.5% cashback, or occasionally 5% rewards on grocery or gas purchases.

In this regard, Citi CashReturns MasterCard, Citibank's newest addition to its credit card offerings, is a true godsend for people who want to get more rewards from good spending habits.

Citi Cash Returns MasterCard's killer feature: 5% cashback on every credit card purchase for the first 3 months (and 1% thereafter).

Thought the introductory period of 3 months is too short? Think again. If you charge $3,000 to a card normally, you can get $150 in cash rebate every month, or $450 in the 3 months' period. And if you happen to have a big purchase in mind for the coming month, 5% is yours without having to negotiate with any salesperson. This can be 5% off every vacation, every furniture or appliance purchase, every Christmas gift, or even every medical appointment (if you opt for paying your physician upfront and claiming with insurers later).

The beauty of the reward program is there is absolutely no limit of the amount you can earn, allowing you to effectively shaving 5% of most of your monthly expenditure. And, if you have a family, applying another Citi CashReturns card under your spouse's name after 3 months, and you can be really proud of yourself for cutting 5% of your half-year budget for a few minutes' of work on the computer.

Of course, this offer can only be lucrative for you if you pay off your balance every month. Otherwise, your cashback returns will be eroded by the financial charges you will incur down the road.

Feel it is a great deal? You may apply today, or read PFBlog's full review of Citi Cash Returns MasterCard for a more informed decision.

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Hot Deal: 5% cashback on everything from Citi CashReturns Mastercard

Read more news like this from PFBlog.com, The Unique Personal Finance Blog Since 2003.

September 13, 2007 | Filed Under Uncategorized | Comments Off 

25 Most Influential Investing Blogs (By the Numbers)


September 12, 2007 | Filed Under Uncategorized | Comments Off 

How to Qualify for Government’s Subprime Bailout

In a little noticed press release, the Bush administration announced its plan to create a new refinancing program managed by Federal Housing Administration (FHA) that will likely rescue 240,000 homeowners from the fate of foreclosure.

The new product, named FHASecure, does have some strict eligibility criteria, though. Homeowners must meet all five of the following condition to be eligible for an FHA bailout:

• A history of on-time mortgage payments before the borrower's teaser rates expired and loans reset;
• Interest rates must have or will reset between June 2005 and December 2009;
• Three percent cash or equity in the home;
• A sustained history of employment; and
• Sufficient income to make the mortgage payment.

Obviously, this program is never designed to bail out everybody who willingly made the decision to buy a house he or she cannot afford. The requirement of 3% equity alone will probably shut the door for enough homeowners who are currently up-side-down in their mortgage balance in this nation-wide correction of housing price.

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Hot Deal: 5% cashback on everything from Citi CashReturns Mastercard

Read more news like this from PFBlog.com, The Unique Personal Finance Blog Since 2003.

September 11, 2007 | Filed Under Uncategorized | Comments Off 

Portfolio Update - August 2007 (Up 0.40%)

ANALYSIS AND COMMENTATRY

Although market ended within 1% of where it started off the month, market volatility in August is comparable to that of the chaotic July. At one point, the market was 10% lower than its peak in mid-July, certifying this as an official "market correction."

Being a participant of this journey really requires a strong heart. At one point in August, I lamented that my stock holdings at low-teens P/E ratios were declining while the obvious bubble of trading stocks at more than 50 times forward looking earnings were rewarded financially in China. S far, I'm glad that at least six weeks into this drama, I'm still holding onto myself without selling at low.

My portfolio gained 0.40% in this month, slightly lagging the benchmark performance of 0.57% appreciation. My individual domestic stock picks continue to beat its benchmark of VTI by almost one percentage point, but the performance of my mutual fund holdings is quite disappointing -- both my domestic equity funds and foreign equity funds failed to match their respective benchmark. That's probably a one-month event -- prior to August, all my funds are beating benchmarks for three straight months.

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Hot Deal: 5% cashback on everything from Citi CashReturns Mastercard

Read more news like this from PFBlog.com, The Unique Personal Finance Blog Since 2003.

September 8, 2007 | Filed Under Uncategorized | Comments Off 

Monthly Update - August 2007 ($793,469, +$31,328)

After two months of lukewarm net worth growth during the summer, our household finance is back to the fast lane. The $31,000 monthly increases makes August the second best month of this year so far.

I have to admit it is partially driven by seasonality -- every August, a few batches of stock option and stock award grants will vest in my account, and even after some hefty tax (up to 46%), it represents some handsome income. Also, the annual bonus payout didn't disappoint me. On the other hand, although the global stock market was quite a ride in August, my portfolio ended up literally at where it started in August. My $3,000 gain was cancelled almost fully by the loss in vested stock options.

During the two thirds of 2007 that is now behind us, we have added over $160,000 to our net worth figure. This includes about $130,000 from savings of multiple income streams and $40,000 from investment income, offset by $10,000 loss in stock option value. Therefore, we are slightly ahead of the game in our annual pursuit of $230,000 net worth increase.

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Hot Deal: 5% cashback on everything from Citi CashReturns Mastercard

Read more news like this from PFBlog.com, The Unique Personal Finance Blog Since 2003.

September 7, 2007 | Filed Under Uncategorized | Comments Off 

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