Category Archives: Money & Finance

There are a number of good reasons in favor of having and using a credit card. It’s like owning a gun – it’s really a matter of how you use it. I know, not because I own a gun, but because I’ve handled an international credit card institution for years. Read more »

Everybody knows about “5-6” and similar lending schemes. Everybody also knows that, ironically, those who are in financial trouble are forced to accept ridiculously high interest rates – which, in many (almost all?) instances, leads to more trouble (financial or otherwise). Read more »

In an Administrative Order recently issued by the Department of Trade and Industry (DTI), stores are now prohibited from imposing any extra charges, on top of the cash price, for purchases of consumer goods or services using credit card, automated teller machine (ATM) cards and debit cards. In other words, stores cannot impose any extra charges on top of the cash price for purchases of goods or services paid via credit card. Violators face a penalty of imprisonment of up to six months. This is provided in Department Order No. 10 (series of 2006), which takes effect 15 days from publication. (See also: Credit cards – How to Stay Ahead of Runaway Credit Card Debt)

A sucker is born every second.

You’ve heard of the “Nigerian Scam”. If not, it usually goes like this: “a supposedly wealthy foreigner (usually from Africa) is seeking assistance in getting his money — in millions of dollars — stashed away in a bank. This wealthy foreigner could be a member of the monarchy, a philanthropist, or an exiled heir. To complete the scam and to make it more convincing, an element of human tragedy is added — usually somebody dying or an ongoing civil war — which is supposedly preventing the withdrawal of the money. Continue reading here.