COMPARING CREDIT CARDS AND LOAN DEALS

magnify moneyA new website, MagnifyMoney.com, has tools for comparing credit card deals, savings, and loans. CitiBank has the worst savings rate: It pays only $30 interest on $100,000 invested for three years.

We found that Fidelity has the best cash-back credit card and immediately wondered if the Fidelity card would be better than our American Airlines rewards travel card. If you spend $2000 a month, the Fidelity card returns $480 a year in cash back. If you had used an American Airlines card instead, $2000 a month would get 24,000 airline miles. We’d rather have the miles. If we had to buy them, they’d cost $98 more than we’d get in cash back from Fidelity. But if we start traveling on some other airline, it would be better to have the cash.

The site’s loan info section tells you which bank has pre-payment penalties, and whether the lender is clear about the terms.

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