Congress is working on the SECURE Act 2.0. It provides for automatic enrollment, increases the catch-up contribution limit and makes many other changes. Here are eight more ways to make 401(k)s fairer. Call it SECURE 2.0.1. Mandatory RothNot all 401(k) plans allow for Roth 401(k)s. Mandate that plans provide this as an option. Don’t punish …
Category Archives: banking
What to do when you get a new credit card
As soon as you get that shiny new credit card, do the following: Activate the card. Call the 800 number on the sticker and answer the IVR prompts or convince the human that you’re real. Sign the card. If you haven’t already, call customer service and opt out of everything: phone, mail and email solicitations; …
Continue reading “What to do when you get a new credit card”
Perhaps MBNA isn’t the best place to keep your money
After all, they don’t seem to be responsible enough to renew their SSL certificate.
Chase is ruining Amazon’s good name
A couple years ago, I switched my Wells Fargo MasterCard to an Amazon Rewards Visa card. Unfortunately, Amazon’s Visa card is managed by Chase, who has no idea how to run a business, build a web site or provide customer service. The complaints piled up in my mind, but it wasn’t until I returned from …
Hey Chase bank — 1995 called, they want their user agreement back
Buried in my Amazon Chase Visa “This E-Sign Disclosure and Consent” was this gem: Hardware and Software Requirements. In order to access, view, respond to, and retain electronic Communications that we make available to you, you must have: an Internet browser (Microsoft ® Windows 95 or higher, Windows NT 4.0 or higher with Microsoft Internet …
Continue reading “Hey Chase bank — 1995 called, they want their user agreement back”
Welcome, Wachovia. Seriously.
A while back, Wachovia bought World Savings, a bank I use for CDs. I received a few letters in the mail describing the process and telling me what I had to do. The first thing I had to do was register for an account with Wachovia’s online banking. I do. Mistake #1: Only three of …
PC Financial’s MasterCard runaround
I had a bit of an odd experience with PC Financial this year. Frustrated by this, I wrote them to describe my experience.
Dear Mr. Kalen,
I have been a customer of President’s Choice Financial and President’s Choice Financial MasterCard for many years. In fact, I believe I was one of the earliest customers of President’s Choice Financial MasterCard.
I was highly satisfied with my PC MasterCard—until this year.