While most of the world is chest deep in a credit crunch, MasterCard has teamed up with Kazakhstan's Kazkommertsbank in launching the Diamond credit card. The diamond-encrusted, gold-laced card will be released in two weeks to an elite population of millionaires who can afford the $1,000 annual fee and won't blink at the $50,000 credit limit.
The growing millionaire population of Kazakhstan is currently at 12,000, and the bank needs only about eight percent of these people to sign up for a card: A total of 1,000 cards will be released and only 30 each month to ensure the card will not be taken for granted as a status symbol. The his version features a winged horse and the hers version boasts a peacock, and there is a 0.02 carat diamond embedded in every card's center. MasterCard launched a similar card for its most VIP customers in Dubai last year.
Now that the 2008-2009 school year is in full swing, the College Board has released the official numbers for the average cost of attending college this year, and CNN Money has developed a list of the 10 most expensive schools in the US. Is your alma mater on the list?
9 Simple Ways to Save and Shop Smart The truth is, everyone needs to save money. Even people on the Forbes 400 worry about the economy, possible job loss and saving up for travel, retirement and a rainy day. Here are a few simple ways to save day by day.
The economy has forced us to focus more on the present and less on the future; we're more worried about holding on to our jobs than plotting our next promotion. One of the biggest (and most expensive) topics under the future umbrella is starting a family — are you concerned that financial issues will hold you back from having kids?
The telling chill in the air means there's no denying we're in the final stretch of 2008. There may only be eight weeks until the ball drops, but there's a whole lot packed in to two months time and we must start preparing. November has me thinking about how to stay on track with my finances when Thanksgiving dinner, traveling, gift buying, and a rising heating bill are happening at once. Check out my must have tips for this month!
Consumers are increasingly defaulting on their credit card balances and banks are suffering because of the massive debt write offs due to the defaults. To remedy the situation, an alliance of financial industry interests and consumer advocates proposed a special program to the government. As legislative director for Consumer Federation Travis Plunkett says, "In this case we have a clear common interest."
Most of the biggest credit card banks are on board with a pilot program that allows lenders to forgive up to 40 percent of a borrowers debt, with the maximum forgiveness going to consumers nearing bankruptcy. Existing rules that allow for the reduction of principal require the debt to be paid in a matter of months, while the pilot program will allow the remaining debt to be paid over several years.
While most of the world is chest deep in a credit crunch, MasterCard has teamed up with Kazakhstan's Kazkommertsbank in launching the Diamond credit card. The diamond-encrusted, gold-laced card will be released in two weeks to an elite population of millionaires who can afford the $1,000 annual fee and won't blink at the $50,000 credit limit. 
Liz Claiborne
Hanky Panky
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