Hack the planet(’s bank account)
November 10th, 2008 — Credit
Normally, American Express charges a $15 fee on Traveler’s Cheque purchases but until the end of the year that fee is waiveid with a coupon code - TCDIRECT. There will still be a $.95 shipping fee via USPS but the normal $15 charge is waived.
American Express treats these as purchases and not cash advances.
October 8th, 2008 — Credit
By governmental edict from up high, you can get a copy of your credit report from each of the credit bureaus each and every year at AnnualCreditReport.com. It’s absolutely free, though the bureaus will try to sell you more stuff, and a popular strategy is to stagger them every four months so you get a snapshot every quarter. So, you get Equifax on quarter, then you get a TransUnion the next, then you get Experian the following quarter and then rinse and repeat.
August 28th, 2008 — Credit
If you want to figure out how to spend less money, the best way to is go entirely cash. Don’t charge a single thing to your credit card, don’t write a single check, and don’t pay for anything with anything else other than cash.
Going 100% cash is hard. It’s hard because we have grown accustomed to the features and conveniences of credit cards. We have access to a tremendous amount of capital with the swipe of a card and often find ourselves spending money we probably wouldn’t have if forced to carry around the cash to pay for it. We will be leveraging that same psychological feeling when we practice the art of going 100% cash.
The main reason this will save you money is because cash is real, whereas credit isn’t. There’s a reason why casinos use colorful clay chips rather than money - you abstract away how valuable the cash representation is. A $100 chip looks just like a $1 chip, it’s just a different color. Your $5,000 credit limit is personified by a smiling teddy bear on a plastic card with a magnetic strip. Your purchases will feel more “painful” because you have to hand over real money and so you’ll naturally spend less.
Another reason you’ll save money is because you generally won’t carry enough money with you to make huge purchases. Tempted by a $300 purse or a $500 Onkyo receiver? Unless you are rolling with that much cash in your wallet, you won’t be able to buy it when the urge strikes. You’ll have to go to the ATM, withdraw the money, and then return to the store if you really want it. By then, the urge will likely have subsided.
Try going entirely with cash for a week or even a day, you’ll notice that your spending will have fallen.
June 19th, 2008 — Credit
Are you looking for the best gas credit card now that we have $4 gas? Fortunately we have personal finance blogs to cut through the fluff and tell you straight which is the best card. Right now, the best gas credit card appears to be the American Express SimplyCash® card. It offers 5% cash back on gas and they credit it directly to your account. No shenanigans about requesting a check over $50, depositing a check, waiting, sometimes forgetting to request it, etc. Credit directly to your account FTW!
The only concern is that it’s a business card, which means you have to have a business right? Nope. You can apply as a sole proprietorship, use your social security number as your EIN, and you’re in luck. This is entirely legitimate and there are no tax implications of doing so.
The other cards mentioned, the Discover Open Road and the American Express Costco TrueEarnings cards are less desirable. The Discover Open Road limits your cashback to $20 a month (first $100 in purchases) and the TrueEarnings card has an annual fee unless you’re a Costco member (and is only 3% cashback, 5% for the business card version). You are better offer with the SimplyCash card.
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 20th, 2008 — Credit
Discover is running a new Discover Business card promotion where they’re offering $100 bonus cashback after your first $1000 in purchases. You’ll earn cashback on your $1000 spending so that $100 is bonus money.
Remember, anyone can apply for a business card using their social security number as a sole proprietorship without any additional paperwork or tax implications.
May 15th, 2008 — Credit
Quick and easy 100 ThankYou Network points:
May 12th, 2008 — Credit
From May 1st until June 30th, American Express is running a promotion where they will send you a $25 American Express Spring Fling card for every pair of $25 American Express gift cards you purchase. The American Express Spring Fling promotion, as it’s called, allows for two offers per households, for a total of 2 Spring Fling cards available (4 of the $25 cards = 2 of the $25 Spring Fling cards). The only downside is that there is a $3.95 activation fee per gift card so you have to pay that four times for a total of $15.80 - thus reducing your $50 Spring Fling card down to $34.20. You can use the Spring Fling card as a bunch of retailers including Best Buy, Fandango, Borders, and SpaFinder.
Whether or not this deal is worth it to you is up to you, but it’s available. Here is the Spring Fling Rebate and the Spring Fling promotional page.
March 20th, 2008 — Credit
Have you seen a hot offer from a credit card but stopped yourself from applying because it was for a business? Let me let you in on a little secret… anyone can apply for a business credit card. The reason anyone can apply is because anyone can be a business without filing any additional paperwork. To apply, simply put in your social security number as your tax identification number and put your name as your business name and you’re all set. The business entity type is called a sole proprietorship and it requires no paperwork to establish. There are no tax implications for saying you’re a business so you don’t have to worry about the IRS coming after you just because you applied for a business credit card.
Why would you want to apply for a business card? There are a lot of hot offers for businesses right now such as Discover Business Card’s 0% on purchases for 12 months and Blue from American Express’s 0% on purchases for 15 months. Here is a list of 0% APR on purchases cards, many of which aren’t business cards.
If you do have a business, the best business card to get has to be the Discover Business card, my full analysis is in the link.
February 18th, 2008 — Credit
I’m not sure how many people use the myFICO credit monitoring service (or any number of credit related services that they offer) but they recently released a new discount promotion code 25offFICO where you get 25% off their services, coupon expires at the end of the week, Feb 22nd.
100% Risk-Free 30-Day FREE Trial
- Monitors important changes to your FICO® score and Equifax Credit Report™
- Provides timely alerts when important changes are detected
- Easy-to-read view of how lenders see you and items affecting your score
- Alerts you when you might qualify for better interest rates on loans
A week before your 30-day trial expires, we will contact you by email to confirm that you wish to convert your trial to an annual subscription. If you do not cancel prior to the end of the 30-day trial, you will be billed at the annual subscription rate of $89.95 when the 30-day trial expires.
Enjoy!
