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FDIC Issues Tips to Help Consumers Save Hundreds on Loans and Credit Cards
Special Edition of FDIC Consumer News Features 51 Ways to Cut the Costs of Borrowing Money
The Federal Deposit Insurance Corporation (FDIC) today issued a collection of 51 simple, practical tips that can help consumers save hundreds, if not thousands, of dollars on loans and credit cards. The advice, in a special edition of the agency's quarterly FDIC Consumer News, provides ideas and information on topics such as how to: get the best possible interest rates, avoid paying unnecessary fees, find "emergency" cash at affordable prices, and steer clear of credit-related rip-offs and scams.
The publication, entitled "51 Ways to Save Hundreds on Loans and Credit Cards," includes tips for saving money any time -- in a consumer's basic financial affairs, when shopping for new credit, and when using loans and credit cards. Examples:
In addition, the new FDIC publication includes special tips just for credit cards as well as home, auto, student and small business loans. There's also a section on how people who need a small amount of cash fast can find affordable alternatives to high-cost, nonbank service providers.
The goal of FDIC Consumer News is to deliver timely, reliable and innovative tips and information on financial matters, free of charge. This special edition can be read or printed online at www.fdic.gov/consumers/consumer/news/cnsum07. There is also an online form for ordering up to two free paper copies.
The FDIC encourages financial institutions, government agencies, consumer organizations, educators, the media and anyone else to help make the tips and information in this special edition widely available to the public. The publication may be reprinted in whole or in part without advance permission. Organizations also may link to or mention the FDIC Web site. The special edition also is available on the FDIC Web site in a PDF format that can easily be reproduced in any quantity. Space on the back page of the PDF version was intentionally left blank so that an organization could add its name, logo, a special message and/or self-mailing information.
Current and past issues of FDIC Consumer News, including special editions for senior citizens, teens and young adults, are online at www.fdic.gov/consumernews. The FDIC also offers a free subscription service that provides an e-mail about each new issue posted to the Web site and a link to stories of interest. Instructions for subscribing are posted at www.fdic.gov/about/subscriptions/index.html.
Members of the media interested in additional information or an interview with an FDIC expert should contact Jay Rosenstein in the FDIC Office of Public Affairs (202-898-7303 or email@example.com).
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,650 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-69-2007
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