Some info regarding CARS (Cash-for-Clunkers)

There has been a lot of news about the Car Allowance Rebate System, or CARS (formerly known as Cash-for-Clunkers), offered by the federal government to encourage consumers to trade-in their older, non-fuel efficient vehicles for incentives of $3,500 or $4,500 towards the purchase or lease of a new vehicle.

Here are a few points about the program:

• Your vehicle must be less than 25 years old on the trade-in date
• Only purchase or lease of new vehicles qualify
• Generally, trade-in vehicles must get 18 or less MPG (there are different requirements for large trucks and cargo vans)
• Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in
• You don't need a voucher, dealers will apply a credit at purchase (credit amount is $3,500 or $4,500)
• Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.
• The program requires the scrapping of your eligible trade-in vehicle (destroying the engine so that it can never be used again), and that the dealer discloses to you an estimate of the scrap value of your trade-in.

More information about this program can be found on the government’s official site at: www.cars.gov.

Here are additional links to some of the automakers' websites regarding Cash for Clunkers:

• Chrysler
• Ford
• GM
• Honda
• Mazda
• Toyota
• Volkswagen

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No Credit Card Rate Hikes Here!

It is being reported that several large banks, credit card issuers and even department stores have begun raising their interest rates in response to the new credit card protection legislation. These rate increases are not based on payment history or inactivity but are just another way for these companies to squeeze their customers for more money.

It is important for you to know that Team One will not raise credit card rates unnecessarily to hurt our members.

Rest assured that our goal is to continue to provide credit cards that our members can use responsibly and continue to afford. We will always keep you informed of any changes to your credit card and never charge excessive penalties or fees. If you have a credit card with another financial institution, now would be the perfect time to consider transferring your balance to a Team One Visa Platinum card.

We Do Not Solicit Member Information Via Text Messages

We've received reports from members of Team One imposters soliciting member account information via text messages received on their cell phones.

We will never ask you for personal information in this fashion.

Please do not respond to these messages, and contact your cell phone service provider to report these incidents.