Although RFID (Radio Frequency Identification) is still a tough sell to a many people, millions of contactless credit cards have been issued over the past year. Issuing banks are increasingly making RFID cards the default replacement card, and banks aren't required to tell cardholders that the new cards are RFID-enabled. Some contactless cards have visible microchips, but others don't, so it may be difficult to know if you own an RFID card.

The lack of knowledge about what type of credit card you have in your possession is just one part of the security problem. Other issues, like a misunderstanding about how these cards operate, create yet more reasons why you need to become proactive about your credit card security. One way to become more secure is to learn about what makes this technology "hackable".

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College is an expensive proposition, but a degree helps in getting a good career and comfortable life. Here are a few tips on reducing your expenses. Most of the suggestions are aimed at college students. A few are general enough that anyone can use them.

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For the focused mind, opportunities for making money present themselves everywhere. One technique, arbitrage, is used in a number of areas including betting, the stock market, online advertising, and now transferring balances between credit cards. This method works best in the United States because there are so many competing credit card issuers, a sizeable population, and enough suitable liquid investment vehicles that the competition has resulted in low or zero percent credit card offers.

ARBITRAGE: Hedge two seemingly opposite transactions so as to make a guaranteed profit — that is, zero risk. Balance transfer arbitrage, with low-rate or 0% APR credit cards, requires only a bit of discipline, research to find good card offers, and organizational and planning skills.

PREMISE: Borrow money at a low rate and earn money on it at a higher rate until the intoductory low-rate borrowing term has expired.

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If you're itching to start a new small business or if you simply want to clear up some credit card debt at a lower interest rate, you have a new venue to consider that could help you make or save money — the online Peer-to-Peer, or P2P, bank. Unlike the traditional lending institution where borrowing is predictable (either you get the loan or you don't; either you purchase a CD or you don't), the P2P banking revolution offers a variety of lending and borrowing solutions both to the risk-savvy entrepreneur and the average consumer.

These P2P companies match up lenders and borrowers directly, with the perception that the middleman disappears. In reality, the P2P venue becomes the middleman, but operates on much lower margins than traditional banks. Therefore, interest rates are lower for borrowers who are accustomed to high credit card rates, and the return rates are usually higher for lenders than the average CD or savings rates.

If you want to join this financial phenomenon, you have three types of lending/borrowing networks to choose from — The Family/Friend/Associate Network, the Unknown Person-to-Person Network, and the "Give With Your Heart" Network. While there are only a handful of sites to choose from within these three categories, expect this banking revolution to grow as the 'sexiness' factor within the grassroots borrowing and lending venue increases.

Continue reading "A Banking Revolution: The Top People-to-People Microlenders Reviewed" »

Your parents probably told you that there are three things you don't discuss publicly — politics, religion, and money. But Technorati, that storehouse of weblog rankings, indicates that there are over 800 blogs about personal finance (pfblogs). So much for listening to your parents.

According to the 2006 "World Wealth Report", there were 8.7 million millionaires worldwide in 2005, a 6.5% increase from 2004. So pfblogs are likely to grow in popularity. Here's a sampling of 100 pfblogs, chosen based on a multitude of criteria ranging from Alexa ranking to Technorati ranking. Some of the bloggers indicated here are financial experts, others share their hard-learned wisdom, baring their finances and souls. Note that certain types of blogs were left out:

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