Welcome to Money Online

Money Online is a set of links to relevant Web sites and companion exercises that will help you use the Web effectively in financial planning. By bookmarking (saving) the URLs, you will build a valuable library of personal finance Web sites.

Web site addresses may change over time, so if you have difficulty linking to a URL, please try using key words in your preferred search engine.

CHAPTER 6 – Using Credit


Parse out all those credit card offers, and explore various credit report services that also help protect you from identity theft. Pull up CardTrak’s site and click on the “Credit Cards” tab. There you can narrow your search by categories such as card type, bank, card network, and credit quality, and then compare credit cards on the following points:

a) Annual percentage rate for purchases

b) Introductory annual percentage rate

c) Balance transfer annual percentage rate

d) Annual fee

There is also a section devoted to credit reports where you can compare services and price points.


Want to learn more about scams, identity theft, and how to avoid them? Pull up the’s site and click on “Scams and Identity Theft” to learn about the most common forms of consumer fraud.


Go to this Web page, and then click on “credit card minimum payment calculator” to find out how long it will take to pay off a credit card. Try it: Assume you have a $5,000 balance on a credit card that charges 18 percent interest; now, if you make minimum monthly payments of 2 1/2 percent (which is equivalent to paying 1 percent of the current balance plus all finance charges), how long will it take you to pay off the card? How about if you make minimum monthly payments of 3 1/2 percent? Finally, how long would it take you to pay off the card if you made fixed payments of $175 a month?


What are the alternatives to bankruptcy? What are the statistics on both business and personal bankruptcies? Visit the “Consumer Center” and “Code and Rules” sections of the American Bankruptcy Institute to find court rulings, articles, reports, statutes and laws, and most anything else to do with bankruptcy.

Just for Fun!

What effect will paying an extra $10 per month have on your credit card debt? Use CNNMoney’s debt reduction planner to find out. While you’re there, also click on “Related Stories” to get useful information on credit management and how to maintain a good credit record.

Get in on the secret! You can use credit wisely and to your advantage—let the Motley Fool show you how: Click on “Don’t Play by Their Rules” for some sage advice.

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