Showing posts with label Credit. Show all posts
Showing posts with label Credit. Show all posts

Wednesday, November 27, 2013

This Infographic Separates Credit Score Fact from Fiction

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View the original article here

Sunday, August 18, 2013

Reward Boost Finds the Best Rewards Credit Cards Based on Your Spending

Rewards credit cards are a great way to earn hundreds of dollars back on everyday spending. However, with so many different cards available and spending categories, finding the right ones to use can be tricky. Enter Reward Boost.

Simply enter the name of the cards you own—you don't have to provide login or account details—and your monthly spending by category and card to get a report of your annual rewards amount and percent back. Reward Boost will suggest alternative cards for you to consider if you want to maximize your cash back or rewards amount.

The site, currently in beta, isn't perfect. For example, it didn't have my grandfathered Amex Blue Cash card, so the percentages are off, and it can't account for rotating card categories. Also, special rewards categories, like Amazon purchases with the Chase Amazon card, aren't available.

Still, the webapp is useful for gauging if you're using the best cards for your spending. Daniel Packer, the developer of the site, writes on Sweating the Big Stuff that he created the site as an alternative to Mint, which may overestimate the amount you could get back from recommended cards.

(By the way, if you're looking for a travel credit card instead, which often gives you a better bang for your rewards buck, the similar MileCards calculator is your friend.)

Reward Boost | via Sweating the Big Stuff

Friday, August 2, 2013

Sunday, July 7, 2013

Don't Opt-In to Over Limit Fees on Your Credit Cards

Don't Opt-In to Over Limit Fees on Your Credit Cards

Banks often promote an "over limit" fee as a means of avoiding a declination when using your credit card but really just exists to encourage poor spending habits and make them a little extra cash in the process. Daniel Bortz, writing for US News, explains:

Jana Castanon, community outreach coordinator at Apprisen, a national nonprofit credit-counseling agency, says some first-time credit users don't understand how overlimit fees work. Unless you opt in for these fees, you can't exceed your credit limit. It's not fun to hear the cashier say your credit card has been declined, but many experts warn against opting in because it puts you at risk of getting hit with extra fees – and you could start a habit of spending beyond your means.

Always make sure to opt out of any over limit fees on your cards. If you don't know whether or not your bank assesses this kind of fee, call them up and find out. You can opt-out, so you should. After all, low balances aid your credit score so you shouldn't be pushing up against the limit in the first place.

How to Make Sense of a Credit Card's Terms and Conditions | US News

Photo by luchunyu (Shutterstock).

Monday, June 10, 2013