Understanding Credit Card Offers: Are You Reading the Fine Print?

The fine print at the end of a credit card offer letter can tell a consumer a lot more about how good"or bad"the offer is than the main area of the marketing letter, where flashy photos and less text are more likely to catch the eye.But the small-font text in the last pages of a credit card offer are less likely to be read than the bigger, main points early on. At least thats what credit card companies are hoping for.The type of credit card offer you get in the mail tells a lot about what the company thinks of you and how it can best gain your business, according to a research project by the MIT Sloan School of Management.The researchers studied more than 1 million credit card mailing campaigns and found two types of mailers targeted at different consumers:Photos of enticing holiday destinations and reward miles, with the best credit terms, and aimed at highly educated and financially sophisticated people.Low teaser rates for an introductory APR (annual percentage rate), more rewards, visual distractions and fine print at the end of the offer letter, all aimed at less educated and less sophisticated customers.For the less-educated customers, the credit card companies expected them to skip reading the fine print, the researchers found. Those customers were offered cards with complex features and hidden charges, such as higher rates, late fees and overlimit fees after the introductory period ended.The more educated customers were offered cards that didn’t rely so much on backloaded fees but had higher upfront fees, such as annual fees and higher APRs. The cards have low late fees and over-the-limit fees and are more likely to carry airline reward miles.Offers with the worst credit terms were more likely to have the terms in small font or on the last pages of the offer letters. The letters with backloaded terms also contained more photos and less text, perhaps to distract from the details of the offer.Whatever your education status, you can get help choosing the best credit card by comparing the terms in the fine print and carefully reading the Schumer box. This is an area where the relevant terms are put in one place and are supposed to be easy to read.The marketing material may be best left in the trash, except for the fine print section that usually ends up thrown away first.Published with permission from RISMedia.

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Smart Home Gadgets That Will Elevate Your Home

Technology seems to mutate with the speed of light, but is your home keeping up with the changes? Smarten it up with a few smart-home electronics that will boost safety, increase comfort and may even save you a few bucks:Video Doorbell The VTech Video Doorbell, about $115, lets you screen and even video chat with visitors before you answer the door. And the system takes a snapshot each time the doorbell is pressed, so you’ll always know who came a-knocking while you were away.Smart Door Lock The August Smart Lock uses keyless technology to keep your home safe no matter where you are. From your smartphone, you can let guests in, check to make sure you locked up before you left, keep a record of who has entered and exited, and unlock your door from the driveway. Cost? About $220.Home Automation You can ease into wireless control of your lighting and appliances with Insteons Start Here Kit, about $125, before moving on to automating other household needs, like irrigation control and occupancy sensing.Water Saver The WaterPebble Water Saver memorizes the length of your first shower and uses it as a benchmark to measure future shower times. Using a series of traffic lights, it reduces your shower time by a fraction each time, helping you save on your water bill without trying. About $12.Learning Thermostat For about $250, the Nest programmable thermostat will learn your heating and cooling schedule and program itself. It can even be controlled from your phone and could save you up to 20 percent on energy costs.Smart WateringIs your sprinkling system over-watering or under-watering your lawn? Toros wireless Xtra Smart Soil Moisture Sensor keeps the moisture level just right. Not only will the health of you lawn improve, but your wallet (and the Earth) will benefit, too.About $115.Published with permission from RISMedia.

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5 Ideas for Remodeling Your Basement

Looking to update your basement? Here are a few ideas…Home TheaterBasements are the perfect place to design the home theater of your dreams.Fitness AreaA fitness area in your basement is rather simple, with the most important features being mirrored walls and a durable floor.Relaxing SpaA place to unwind at the end of the day, a home spa is a luxury youre sure to appreciate.Wine CellarThe ability to store bottles collected from around the world under ideal conditions will set your house apart.Home OfficeThe basement might be the best place to put a designated workspace away from the rest of the house.Published with permission from RISMedia.

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