Michael Finney answers your consumer questions

7 On Your Side's Consumer expert Michael Finney answers your questions, every weekday on ABC7 Mornings. Submit your video questions and tune in at 6 a.m.

Question 1
Nikki from Brentwood asked: Which credit card has the best airline miles?

Answer
The deals are changing all the time, but one of the best right now is the Chase Sapphire card. You have four months to charge $4,000, and they'll give you $750-$1,000 dollars in travel. American Express has a couple deals worth about that, maybe a little more, but the annual fees can get steep, so you need to be careful. Some common deals you'll see often, are airline branded cards offering sign-up bonus miles ranging between 30,000 and 50,000 miles. Never take anything less than 30,000.

Question 2
Hector from Brentwood asked: I've heard the U.S. Department of Education may eliminate student loans or forgive them. Is this true?
Answer
There's some truth in that - just a little bit. There's nothing concrete, yet. There is now a trillion dollars in outstanding student loans. That's strangling the economy. Because of that, Washington is beginning to look for a solution. Now, if you work for the government or a nonprofit and pay your student loans every month, on-time for 10 years, the rest of the debt is waived. That's a great deal and it's about the only program out there that most of us can get in on.

Question 3
Karen from Walnut Creek asked: We went to a major appliance store in Concord to make a purchase for our Hawaii address. The salesperson took our credit card information, called the Hawaii store and completed the transaction. I have an email receipt. They're now saying the item isn't even in stock. How can you ring something up if you don't have the item?

Answer
Let's start by giving them the benefit of the doubt. They may have thought they had the item in stock or maybe they're no longer allowed to ship the appliance to Hawaii. Now, you have the right to get your money back from the retailer and they ought to give it to you really quick. If they don't, you should contact your credit card company. They can stop the payment and put the money back into your account. But, you have to do that within 60 days. If you still have issues after you tried these two things, contact the 7 On Your Side hotline at: (415) 954-8151, Monday through Friday from 10 a.m. to 2 p.m.

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Related Topics:
society7 On Your Sideconsumerconsumer concernsmoneyholiday shopping
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