Entries Tagged 'Credit Cards' ↓
August 14th, 2008 — Brokerages, Credit Cards
No fee 0% balance transfer credit card offers are getting much harder and harder to find. What is someone looking to reduce their debt debt supposed to do? What is someone looking to plan a big financial expense (such as a home improvement or other large capital project) go for some quick financing? Fortunately, 0% balance transfer offers aren’t going away. Companies have simply added one-time transfer fees that make the offer less lucrative but still valuable if you’re in need of a quick credit infusion.
First, why have the best offers becoming harder to find? It’s because the tightening credit market has caused many issues to pull back their best offers. Credit is not as free flowing as is used to be and those battling debt, or looking for some other edge on their balances, are noticing. As recently as a year ago, you could find three dozen no fee 0% balance transfer offers out there… now it’s getting much harder and harder.
Second, what’s the best way to take advantage of these 0% offers? Many credit cards still offer a 0% balance transfer but now have an associated fee with them but they are still a great way for you to take a quick interest breather, to get more caught up, if you’re carrying debt or they’re valuable for financial planning reasons.
If you are saddled with debt, taking out a 0% balance transfer may be a good decision under certain circumstances. First, compare the interest rate of your debt to the one offered by the credit card after your 0% APR promotional period. If the old debt is higher than the new one, it’s a no brainer – apply for a 0% balance transfer credit card and move the debt. If the interest rate of your debt is lower or the same, how much can you pay off during the 0% period? If the answer is “not a lot,” then you may not want to move it. If the answer is “the whole thing,” and you must be certain of this, then it makes sense to move it.
July 28th, 2008 — Credit Cards
The Starwood Preferred Guest® Credit Card from American Express card is a fantastic card if you’re a frequent stayer at Starwood Hotels (Sheraton, Westin, Meridian, Four Points, etc) because you can get 10,000 Starpoints for signing up and making a purchase. Now they have a promotion where you can get 1,000 points for each additional card you get after it makes a purchase, up to 2,000 points.
To take advantage of this promotion, you’ll need to first have Starwood Preferred Guest® Credit Card from American Express, then register the new accounts here.
Terms & Conditions:
1,000 bonus Starpoints will be awarded to your Starwood Preferred Guest Account 8-12 weeks after the first purchase on an approved Additional Starwood Preferred Guest Credit Card submitted with this application. The Additional Cardmember must make their first purchase with the Starwood Preferred Guest Credit Card within one year of Card approval. Bonus offer applies to first 2 Additional Card added on this application only.
July 25th, 2008 — Credit Cards
Have you ever heard of the Citi mtvU card? If not, it’s one of the only cards that gives you 5% cashback as ThankYou Network reward points at restaurants, movie theaters and bookstores, including Amazon.com.
That’s right, the coveted 5% cashback.
The card is designed for students but when I got it I wasn’t a student. I don’t know how it is now but it’s always worth a shot.
July 22nd, 2008 — Credit Cards
Discover Card is once again offering their 10% cashback promotion that normally runs during the holidays. Simply spend $100 at a participating mall on your Discover Card, bring the receipts to customer service, and receive a $10 gift card with a limit of five per account.
Terms & Conditions:
Get a $10 Discover® Gift Card when you make $100 in purchases with your Discover Card at a participating mall between 8/1/08–9/7/08, while supplies last. Original receipts and your Discover Card must be presented to a participating mall’s Customer Service by 9/7/08. Limit 5 Gift Cards per account, during the promotion period. See Gift Card terms and conditions for full details.
July 10th, 2008 — Credit Cards
Spend $1000 in three months on the Discover Business card and a hundred dollars is yours for the taking. That’s the richest offer of its kind right now and one that you shouldn’t pass up if you think you have the spending to back it up. Read more about Discover Business’ $100 cashback bonus promotion.
June 18th, 2008 — Credit Cards
From now until July 31st, get a 20% bonus on miles when you convert American Express Membership Rewards into Delta SkyMiles. To get this bonus you must first register for the offer and then transfer your Membership Rewards points into your SkyMiles account.
Link for promotion details
Bonus Information:
Members will receive a 20% mileage bonus on all points transferred during the offer period. The bonus award will be based on the total number of miles placed into your account as a result of all Membership Rewards point transfers between June 10 and July 31, 2008. Bonus miles will be posted up to 6 weeks from the promotion expiration date of July 31, 2008.
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The 157th Carnival of Personal Finance is also available!
June 16th, 2008 — Credit Cards
Discover has released the details of their third quarter Get More promotional areas, which were listed as Gas Stations and Hotels:
Get going this summer and get 5% Cashback Bonus on up to $400 in gas and hotel purchases from July through September. [Source: Discover]
5% on $400 is only $20 but every little bit counts, it might be better to try one of these gas cashback cards instead.
June 6th, 2008 — Banking, Credit Cards
Step one of getting rid of all that junk mail, that dangerous identity theft risk junk mail, is to opt out of it at OptOutPrescreen.com. That gets rid of unsolicited mailings from companies you don’t already do business with. However, if you have a pre-existing business relationship with a company, they can still send you mailings. That makes sense to me and seems perfectly fair.
However, one of the biggest identity theft risks (or theft risks in general) are those cash advance checks your credit card company sends you. Another risk is that credit card offer your bank sent you. In order to opt out of those, you need to call each company and request that you be removed from their marketing list!
Optoutprescreen is great, but it’s only step one. Don’t forget step two.
June 3rd, 2008 — Credit, Credit Cards
Building and maintaining a strong credit history is a must these days. In the past, only lenders cared about your credit score and your credit history. Now, everyone from landlords to employers are checking your credit history and using it as a proxy for reliability and trustworthiness. They believe that someone with a low credit score and a weak history is less trustworthy, which may or may not be true, so it’s important for you to build and maintain a strong credit score and history. This is best accomplished when you’re a student because you’re finally on your own.
The first step is to try to apply for a student credit card such as the Citi mtvU credit card. The Citi mtvU card isn’t just the non-student card with higher interest rates and more fees, it’s actually a tailored card with features a student would like like 5% cashback at bookstores, points for good grades and on-time payment. It also means that students are more likely to be accepted. If you try to get a regular consumer credit card, the rules are going to be more stringent.
If you don’t qualify for that card, consider getting a credit card from a store you shop at in the mall. These cards often have low limits and zero benefits (make sure you get a card with no annual fee!) but you’re looking to build credit, not get access to easy debt. If you can get the mtvU card, or some other student card, don’t bother with getting a store card.
Don’t sign up for a credit card at some random table at school. 95% of these tables are legitimate, but you always run the risk of giving out all that sensitive data to a complete stranger that you shouldn’t trust. That person could use that information to steal your identity. Not worth it.
Good luck!
May 29th, 2008 — Credit Cards
Did you know that many credit cards offer a price protection program? Yep. If you notice that a particular item you’ve purchased has gone on sale or is cheaper somewhere else, you can contact your credit card company for a refund of the difference. Usually stores will not honor online prices and require the price to appear in print.
With Citi cards that have Citi Price Protection, you can get up to $250 per transaction if you notice a price drop within 60 days, with a maximum benefit of $1,000 a year.
With American Express, the program is called the Best Value Guarantee. Coverage is up to $250 per item, excluding taxes, shipping, and handling, for up to 60 days and up to $1,000 a year.
Other card issuers may also have similar programs.
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Also, be sure to check out this week’s Carnival of Personal Finance in which DMH article Don’t Quit Jobs for Less Than an 8% Raise was included.
