Working as a reporter for CreditCards.com offers a lot of perks — caviar dispensers in the break room, private flights to international finance conferences and casual dress every Friday — but improved banking relationships aren’t included. My recent headaches prove that point.
My story begins several months ago: Inspired by the calendar change to 2010, I resolved to strengthen and streamline my personal finances. After all, even personal finance reporters aren’t perfect. Some of the changes included closing an old Wachovia account, which included (in my mind) underperforming IRAs — Roth and traditional — and moving that money to my existing Chase bank account, since that’s where my direct deposit goes each month. Unfortunately, my plan had costs — in both time and money — that I didn’t expect.
Citi’s rescue of Wachovia Bank this week raises questions about rewards points and what lies ahead for me and other Wachovia card users.