401k Loans or Credit Cards

In wake of the recession, many Americans have been forced to get a 401k loan because they needed funds to help them make their mortgage payment. This is a tragedy, because so many people have drained their savings trying to pay for a home loan that they can no longer afford. Al Lewis posted an article in the Denver Post discussing the benefits of a 401k credit card.

Caroline Campbell, a spokeswoman for ING U.S. Financial Services, said, "After weighing the pros and cons, we have decided to not actively pursue offering credit cards connected to our customer's 401k at this time."