Milking the banks
Forget parking all your money in one bank, says Jonathan Clements in The Wall Street Journal. For optimal “cash management, 2007-style,” you’ll want to “cherry-pick” the best accounts from different banks. The goal is “sidestepping fees, piling up credit-card rewards, earning extra interest, and building a great credit score.” First, look for a “no-fee, no-interest checking account” with no minimum balance. Next, pick a savings account that offers 4 to 5 percent interest. Finally, carefully choose a no-fee credit card that offers cash back or other rewards. But “be careful not to overspend”—the charges will wipe out your work.
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