The credit card industry has changed considerably in the last year since major provisions of the Credit CARD Act of 2009 went into effect, and CreditCardGuide.com correspondent Eva Norlyk Smith has followed the changes from the beginning.   In honor of Financial Literacy Month, I’ve combed through the CCG archive and put together a short quiz based on Smith’s reporting. Try it now and see how much you remember.   Quiz 1. True or False: If you overdraw your checking account, you will automatically be charged an overdraft fee, unless you opt out.

2. True or False: Most card issuers cap balance transfer fees at $75-$100.

3. True or False: Credit card issuers aren’t allowed to offer students tangible gifts, such as water bottles or T-shirts, in exchange for signing up for credit cards.

4. True or

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Aussies who love to go out on a spending spree with their credit cards to purchase the latest gadgets may be spending up to 50 per cent more than their US counterparts.

Australian Retailers Association executive director Russell Zimmerman told the Australian that one of the reasons for this is that vendors in the country have the second highest tenancy costs in the world.

“You have to ask whats the retailer paying his supplier for his goods in relation to what the retailer in the US pays his supplier,” he added.

Among the discrepancies in pricing identified by the publication were that of the Lenovo X1 computer, which can be purchased for US$1,191 ($1,130) from the US parent site, but will set Aussies back $1,979.

Apple was also found to have placed significantly higher mark ups on its products, with the iPad 2 selling for between $80 and $120 more for those using their credit or debit cards in Australian outlets.

Last month, Canons Digital Lifestyle Index showed that Aussies spent $6.8 billion on gadgets during 2008.

Father’s Day is Sunday, and it has me thinking about how I owe so much in my life to my dad. I could devote a whole post about that, but instead, I will just stick with saying I am thankful that he has passed down many important money lessons to me throughout my life.

Here is some of the financial wisdom I have gleaned from my dad:

• He is diligent about saving and investing, but he also knows how to enjoy life. He adores travel, so he goes on trips as often as he wants to, as long as all of his other financial bases are covered. He finds that perfect balance, which I also aim to achieve.

• He understands the importance of higher education. My mom and dad started a college fund for me when I was a baby.

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  You can read all you want about credit scores and IRAs and say that you’re going to do the right thing with your money, but according to psychologists, your financial actions are more likely to be governed by an irrational, haphazard belief system you developed as a kid.   Luckily, it’s possible, say these psychologists, to fight back against the lizard brain that drives your worst financial choices — as long as you come to terms with the financial beliefs that are subconsciously driving your decisions.   According to a recent study published in the Journal of Financial Therapy, there are four common money beliefs that often cause us to make poor financial choices. These include:     1. “Money shou Read full article…

I have been doing some socializing lately, and when I tell people that I write about miles, they all have ton of questions. Usually their interest peaks up when I tell them about all the places I go to for free.

So Here Is What They Ask Me:

1. What Is The Best Credit Card To Have. Short answer: Starwood Amex. Having a Starwood card is like having a master key to the airlines system. Using Starwood points, you can get free air and hotel pretty much anywhere. The points can be converted to frequent flier miles in dozens of programs while they can also be used for redemptions at Westins, Sheratons and other Starwood brands. Best of all, there are no capacity restrictions or blackout dates.

My long answer has to do with what they are trying to get out of their credit cards.

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