Monetary Policy Committee keeps UK record low rates

The Monetary Policy Committee (MPC) of the Bank of England announced today that it is keeping the United Kingdom’s interest rate unchanged from its record low of 0.5%.

Libor, the US prime rate: A primer

What do the terms Libor, federal funds or the U.S. prime rate have to do with you? Well, if you hold any type of loan, such as a credit card or a mortgage, these interest rate benchmarks can make a big difference to your bottom line.

Key to success – good strategy Plan Your Spending for rewards credit cards

Half of the battle in getting the best credit card rewards is strategizing for the best results. Those who have experience with rewards credit cards know that a good strategy is a key to success – having a game plan that can give you the highest rewards with every purchase you make.

Сheaper credit card through the sale of credit portfolios

Credit card companies are finding it easier to obtain the financing necessary to fund consumer credit cards.

Unbeknownst to most consumers, credit card companies do not own the money they lend to their customers. Instead, they borrow it on the open market through bond financing. In some cases, credit card companies even sell their lending portfolios. Investors purchase the packaged debt securities as investments on the open market, and credit card companies exit their debt portfolios, reducing their risk.

Mortgage rates moved slightly lower

Mortgage rates moved slightly lower today reaching their best levels since early in the month after a speech from Fed President Bernanke in Jackson Hole.