Browsing Category: "Financial Press Release"

Smart Balance Transfers: 0% APR Balance Transfer Update

Friday, May 30th, 2008 | Financial Press Release

Information on the current state of the balance transfer credit card market focusing on 0% APR offers, balance transfer fees, and recent changes in credit card terms by major issuers.

(PRWEB) May 28, 2008 -- The past three months have brought about significant changes in the credit card market, particularly in regards to the balance transfer segment. During this time, no fee balance transfers have all but disappeared, balance transfer fees have risen dramatically, and many consumers are finding it more and more difficult to get approved for a 0% APR balance transfer credit card. In this report from Smart Balance Transfers, we will look at current trends in the credit card market.

The Balance Transfer Fee Situation

A year ago, more than a dozen credit cards offered no fee balance transfers with 0% interest rates for a full year. During April, the last major credit card issuer to offer a 0% APR on no fee balance transfers pulled the offer from the market. Today, there are a limited number of credit cards that charge no balance transfer fees, and none of them offer a 0% APR for more than six months.

As the number of credit card companies offering no fee balance transfers has dwindled, the total fees charged by these companies has risen dramatically. Between 2005 and 2007, the vast majority of credit card companies charged 3% of each transfer up to a maximum of $75. Over the past few months, many of the nation's largest credit card issuers have eliminated the dollar cap on balance transfer fees. Consequently, a person transferring a balance of $5000 would be charged $150 in balance transfer fees today. Three months ago, the fees would have been $75. Not all credit card companies have raised fees. You can learn more about balance transfer credit cards and fees at our website.

Getting Approved for a 0% APR Balance Transfer

The current credit crunch has made many lenders wary of extending credit. Individuals who may have easily been approved three months ago are finding it much more difficult today. In addition to the tightening of credit criteria required for approval, many credit card companies have significantly altered the terms of their offers.

For example, one of the largest credit card companies in the nation advertises a 0% APR on purchases and balance transfers for one year. However, the fine print states that it is possible to be approved and only offered a 0% APR on balance transfers for 3 months. Another company has taken a similar measure. While it advertises a 0% interest rate for one year on purchases and balance transfers, it may approve an applicant and only extend the promotional 0% rate for 6 months.

Now, more than ever, it is increasingly important to closely review credit card fine print. Our website provides guidance on the fees and policies of individual banks to help facilitate the process of making a money saving balance transfer online.

The Future of No Interest Balance Transfers
A decade ago, 0% APR offers simply did not exist. Introductory rates for purchases and balance transfers were generally in the 3% to 7% range. Intense competition led the credit card companies to reduce introductory rates to 0%. Now, however, credit card companies are growing more and more reluctant about extending credit at 0% rates. Ultimately, this could lead to the complete disappearance of the 0% interest balance transfer. Our advice: individuals sitting on high interest debt should act quickly to take advantage of 0% APR balance transfer offers before they no longer exist.

About Us: Smart Balance Transfers is a Credit Card Depot Inc website. Since 2004, Credit Card Depot Inc has provided consumers with credit card information and advice to help them make the best decisions when applying online for credit cards. With nearly 50,000 monthly unique visitors, our websites provide us key insights on the credit card market. We use this knowledge to help our visitors avoided falling into credit card traps and maximize the money they save by taking advantage of 0% APR credit card offers.

To learn more about current credit card offers and apply online, please visit


David Mills Releases New Ebook Revealing – How to Protect Your Assets, Money and Privacy in This Deteriorating Economic Climate

Friday, May 30th, 2008 | Financial Press Release

David R Mills explains in great detail why an offshore bank account is an very effective and legal way of concealing all types of assets and savings from creditors, ex spouses, lawyers, bankruptcy and greedy governments in this declining and worrying economy.

London, UK (PRWEB) May 28, 2008 -- David Mills explains in his most recent ebook why most people are in a position to open an offshore bank account and not just the super rich. In fact the initial amount needed is considerably lower than in an offshore location. Today, more than ever before this could be a way of overcoming the worry of financial insecurity.

David R Mills
David R Mills

Other advantages include earning higher rates of interest and the ability to run accounts from home with a PC. Also offshore bank customers can reduce or eliminate income tax, inheritance tax and other taxes by living in a different country.

Businessmen might find this is the only way of establishing a foreign commercial bank, since other possibilities are difficult to accept owing to the demand for high capital etc. Offshore banking is also a must for those who need complete privacy in their bank. A "numbered" account, also known as "the anonymous bank account" provides this by keeping the account holder's identity secret. All identity is erased from the bank's computer and the account holder is known by a number or code. No paper communication is ever made.

Another great benefit is that if the right jurisdiction is chosen, any financial claims made against the account holder will be thrown out by local courts.

Also, in the present social climate, where being sued for compensation is an every day occurrence, it's more important than ever to have the financial protection of an offshore bank. There are many types of investments offered by offshore banks including stocks and bonds and the choice of many different types of accounts.

Internet marketers in particular can benefit in many ways by incorporating offshore. Their assets are made very confidential and private and it helps to legally cap the tax amount paid on on line income. It is also imperative that an offshore merchant account is established to handle all credit card transactions especially when offering items or information for sale on line.

"The first quarter of this year 2008 shows a very sharp increase in the USA alone of over 12,327 citizens going offshore to bank and with the current financial climate these figures are likely to soar," says Mills.

Today, when financial security is a real concern, it makes sense to take advantage of the protection afforded by subscribing to an offshore bank.

To find out more information and the full benefits go to htttp://

David R Mills (UK)
Tel. 0044 (0)1933 418484


Costco and Wal-Mart Lead a Consumer Revolution as Inflation Fears Transform U.S. Shopping, According to New ChangeWave Survey

Friday, May 30th, 2008 | Financial Press Release

For the first time since June 2007, ChangeWave surveys are picking up some signs of a bottom among consumers. Although spending remains weak, the 90-day outlook is better than it was in April. Counterbalancing these positives, however, is a continued deterioration in the economic health of lower-income consumers and a huge spike in inflation worries among virtually all consumers.

Rockville, MD (PRWEB) May 29, 2008 -- A new ChangeWave survey shows a continuing powerful movement by consumers towards discount retailers and wholesale clubs -- even as overall consumer spending appears to be headed for its first uptick in nearly a year.

May 2008 Consumer Spending Survey
May 2008 Consumer Spending Survey

The May 6-14 survey of 4,403 consumers, which focuses on spending patterns for the next 90 days, shows Costco (COST) and Wal-Mart (WMT) leading all other retail outlets in terms of future spending growth.

This was the third consecutive ChangeWave survey since February that has uncovered strength for Costco and Wal-Mart, highlighting a continued large-scale movement towards discount retailers that's being driven by high inflation and -- until recently -- a slower spending environment.

"The retail shopping transformation we're seeing does not appear to be a short-term phenomenon," said Tobin Smith, founder of ChangeWave and editor of ChangeWave Investing. "Rather, it has the all trappings of a consumer revolution -- and it's continuing to pick up steam."

In other positive news for the two retail giants, when consumers were asked where they expect to spend their economic stimulus tax rebate checks, Wal-Mart (12%) and Costco (12%) were the two biggest winners among the major retail outlets.

(Detailed charts on consumer spending trends, along with additional ChangeWave findings can be downloaded at

A Spending Uptick

For the first time in nearly a year, a consumer spending uptick has been picked up in a ChangeWave survey. It's only a slight one, and overall spending still looks decidedly gloomy, but the 90-day outlook is not quite as bleak as it was in ChangeWave's previous consumer spending survey in April 2008.

While two-in-five U.S. respondents (40%) still say they'll spend less over the next 90 days than they did a year ago -- that is 2-pts better than in April. Another 28% say they'll spend more -- a full 3-pts better than previously.

The survey also queried consumers on their impressions of current economic conditions, and once again while things still look bad, they don't appear quite as awful as they did in April:

--17% of respondents think the economy will improve in the next 90 days, 3-pts better than was seen in April. Even more striking, just 39% think the economy will worsen -- a big 11-pt improvement from a month ago.
--29% say the current state of the economy is better than they thought it would be 90 days ago, while 21% say it is worse than they thought it would be.

Where is spending improving? For the first time this year there is a slight uptick in consumer electronics sales, although spending in the sector is still very sluggish. There is also a 1-pt uptick in spending on consumer durable goods.

Notably, the survey found that the overall uptick in consumer spending is being driven by an improved outlook among households earning more than $100,000 per year.

The Biggest Consumer Threat -- Inflation

Although the survey found a slight uptick in consumer spending going forward, there are still powerful undercurrents that seriously threaten a U.S. recovery -- and first among them is spiraling consumer fears of inflation.

Among those who say they'll be spending less over the next 90 days, more than half (52%) cite Inflation as a reason -- a big 6-pt leap since April. Another 49% of consumers point to Higher Energy Costs -- also up 6-pts.

Other consumer concerns have increasingly taken a back seat to inflation. Perhaps most ominously, two-thirds of consumers report that due to increased energy costs their discretionary spending will be lower for the next 90 days.

Another major threat to recovery: the spending outlook for households earning Less than $50,000 per year remains extraordinarily depressed, with 61% saying they'll spend less over the next 90 days than they did a year ago -- 6-pts worse than in April.

To sign-up for real-time email alerts from ChangeWave on consumer spending trends and winning and losing retailers, visit

About ChangeWave:
ChangeWave runs a proprietary network of more than 15,000 highly qualified business, technology, and medical professionals in leading companies of select industries -- credentialed experts who spend their everyday lives working on the frontline of technological change. ChangeWave surveys its members on a range of business and investment research topics, collects feedback from them electronically, and converts the information into quantitative and qualitative reports. For more information, visit