Vision quest
The Wall Street Journal tries out a couple of online sites that sell cut-rate prescription eyeglass frames and lenses. Buying glasses online takes some time, and a leap of faith that some consumers may not be willing to make. However, the prices are incredibly cheap compared to what it costs to buy at a bricks-and-mortar [...]
Fewer offers, more fees after credit card reform
The number of credit card offers to U.S. households plummeted 67 percent in the first quarter, when compared to last year’s January through March period, reports lowcards.com. At the same time, 27 percent of those offers carried a fee, up from 18 percent a year ago.
Bill Hardekopf, CEO of LowCards.com and author of “The Credit [...]
Haggling works in down economy
A Consumer Reports survey finds that bargaining works better during a recession. Sometimes all you have to do is ask.
CR’s nationally representative poll found that most consumers who asked for a discount were successful. Among those who haggled, 83 percent negotiated better deals on hotel rates, 81 percent reduced their cell phone bills, and 81 [...]
Freecreditreport.com — NOT FREE!
I wrote a story a week ago about credit scores, and mentioned that all consumers should regularly check their credit reports. You can do that annually for each of the three major credit reporting bureaus for free at annualcreditreport.com. Every time I mention annualcreditreport.com, I get a few calls and emails from folks who try to [...]
“I’m not a mathematician”
Obviously.
Hear a Verizon customer attempt to explain to customer representatives the difference between 0.002 dollars and 0.002 cents.
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Don Mecoy
Business Writer
My $40 eyeglasses
I recently bought a pair of prescription eyeglasses on the Internet. I had read that many consumers were satisfied with the products produced by cut-rate companies operating online. I figured that even if I didn’t like my glasses, I could use them as spares, and it only cost about 40 bucks.
Turns out, I’m pretty happy [...]
Touch it and buy
A new study suggests that the mere act of touching an item makes it more desirable to consumers. According to a report at livescience.com, people who held a mug for 30 seconds were willing to pay more in an auction than those who held the mug for just 10 seconds.
Previous studies have shown that many [...]
Financial literacy report suggests changes
The President’s Advisory Council on Financial Literacy has produced a report (.pdf file) listing the group’s accomplishments and a laundry list of recommendations. I’m all for financial literacy. A lack of basic financial knowledge leaves consumers vulnerable to bad loans, scams and just plain bad spending habits. But I found a few of these recommendations to be eye-openers.
Here’s [...]
The meaning of thrift
A thrift initiative has created a quiz to gauge what thrift means to people. Among the questions (all to be answered in five words or less):
Thrift is ________
The opposite of thrift is ___________
Best all-time thrift movie ____________
Best all-time anti-thrift movie ___________
All-time most admirable U.S. millionaire ____________
All-time most destructive anti-thrify U.S. institution ____________
Most valuable current pro-thrift [...]
Phishing: don’t get caught
Commoncraft.com has produced an easy-to-understand video that explains what Phishing is, how to avoid being a victim of this scam and what to do if you think you might have provided sensitive personal information to a scammer.
Don Mecoy
Business Writer
