Blogging Away Debt

Friday Blog Highlight & a Chance to Win Some Money!

Ben at Smart Money Life received $50 for talking about a Pay Day Loan place. He wants to give the money to someone who has had one of those dangerous loans. Visit his post to share your story and win $50! Hurry, you have until March 5, 2007.

JLP was contacted by a writer and she is looking for someone who would like to participate on a debt panel. Wow. Sounds like a great opportunity, so if you are in Northern California, check this out.

Golbguru shares how he paid off his debt.

Lisa at Digging out of Debt talks about immediate gratification and how it contributed to her debt problem.

Matt from To One Million and Beyond took a good luck at his finances and figured out his gameplan (deconstruction and rebuild).

Ispf at Grad Money Matters interviewed me and SVB from The Digerati Life about Ethics, Personal Finance and Women.

As for freebies, I haven’t caught any this week that I feel comfortable filling out the form for. I think I need to search for more sites that list freebies. If you know of any, please share in the comments section.

Citibank’s Universal Default Clause…Buh Bye!!!

by Tricia

One of the things I fear most as a credit card holder is the unfair Universal Default clause. If you haven’t heard of it, you should read up on the link I provided.

Many credit cards have this clause in the fine print, and what it enables them to do is to raise your interest rates through the roof if you are over 30 days late on any other payment to anyone. Key word there is anyone. You could be over 30 days late on your telephone bill and be penalized by your credit card company.

I try to bite my tongue when I feel like calling credit cards evil. But really, the universal default clause is an evil thing.

But I am jumping up and down for joy because one of the major credit card companies, Citigroup, has done away with the universal default clause!! That is awesome news!!! And it gets better!

Citigroup also “will no longer raise rates and fees on customer accounts ‘at any time for any reason'”. This is HUGE news!!!

Wow. I did get my electric bill in the mail today and I was pretty bummed (more later on that), but this news is EXCELLENT!!

Times are changing for the better!

(I don’t think I’ve ever used so many exclamation points in a post – can you tell I’m happy?? 🙂 )

[Hat tip to Frank the F.S.A.]