Tag Archives: banks

Top 7 Credit Card For Those With Good Credit

If you have good credit then you obviously know how to manage your money. Ideally a credit card should be used for investing rather than consuming, but you already know that.
A credit card can be an advantage when making a quick turnover deal, that way you can use the banks money for very little cost and the money is always available especially if your credit rating is excellent. Anyway I thought this was a good article for anyone that is not happy with the credit card that they have.

Credit-Cards

Top 7 Credit Card Offers For Those With Excellent Credit
by Tasha Lockyer November 6, 2013

Do you have excellent credit? If so, banks are actively looking to win you as a new credit card customer by offering some unprecedented deals. Although banks have been more careful about acquiring customers with questionable credit since the 2008 Financial Crisis, they are now fighting harder than ever to win coveted customers with great credit. If you are in the excellent credit sweet spot, they are effectively giving you money (and a lot of it) to use their credit cards. These are the top 7 deals you can take advantage of today:

Citi Simplicity® Card: Shopping for a special item for yourself or someone else? This card will let you make big purchases then carry that balance into 2016 without paying a dime of interest. The Citi Simplicity Card features an incredibly lengthy 18-month 0% introductory APR for purchases and balance transfers. And there are no late fees, convenient if you sometimes forget to pay your bill on time, as well as no annual fee. The combination makes this card perfect for anyone looking to make a large purchase (or several purchases) or who is interested in transferring balances from other high-interest credit cards to this one. Either way it’s a smart choice.

Cash Preferred® Card from American Express: This is such a great cash back card that I have one. Cardholders earn 6% cash back at supermarkets (up to $6K in purchases), 3% on gas and at department stores and 1% on everything else. The 3% cash back at department stores is sure to come in handy this holiday season, as will the 6% at supermarkets if you’re hosting any holiday dinners or have guests visiting. Plus there is a $150 intro bonus that you’ll get after making $1,000 in purchases with your new Card in the first three months – that’s a 15% cash back bonus on the first $1,000 you spend! In addition you’ll enjoy a 0% 15-month intro APR on purchases and balance transfers. There is a $75 annual fee, but depending upon your spending patterns this card should easily pay for itself and then some.

Barclay Arrival Plus™ World Elite Mastercard®: Like to travel? This is the card for you. You’ll earn 2 miles per dollar for every purchase, and a bonus 40,000 miles – equal to $400 in travel – after spending $3,000 in the first 90 days of card membership. To use your miles, just book your travel and redeem your miles for a statement credit. You can make your travel arrangements however you’d like (by phone, online, using an agent, etc), fly any airline to any destination, and enjoy no blackout dates.

An added perk of this card is that if you use your miles to pay for travel you’ll receive 10% of those miles back. So redeeming 10,000 miles will actually earn you a 1,000 mile bonus that will be deposited into your awards bank! That means if you take the 40,000 bonus miles and redeem them for travel they’ll actually be worth 44,000 miles or $440. That’s a pretty nice bonus just for signing up and using the card. Plus there are no foreign transaction fees, so you’ll save money when you travel outside the US. There is a $89 annual fee, but it’s waived the first year. Overall this is a fabulous travel card and we highly recommend it.

Blue Cash Everyday Card from American Express: Need some extra cash? The Blue Cash Everyday Card from American Express (a NextAdvisor advertiser) is offering a great $100 bonus for a limited time. To get the bonus you only need to spend $1,000 in the first 3 months, which is pretty easy to do for most people. When you think about it, it’s a 10% cash back bonus on the first $1,000 you spend! Plus you’ll earn 3% cash back at supermarkets (on up to $6K in purchases each year), 2% cash back at gas stations and select department stores like Sears, J.C. Penny and Kohls, and 1% cash back on everything else. You’ll also enjoy 15 months of a 0% APR on both purchases and balance transfers, giving you a little bit of a cushion to help pay items off. And to top it all off there’s no annual fee and the cash back rewards never expire.

BankAmericard Cash RewardsTM Credit Card: If you’re in the market for a great cash back rewards cards that also has a 12-month 0% APR, this is a smart pick. Not only can you transfer over balances from your high-interest cards to the BankAmericard Cash Rewards card and pay zero interest for a full year, but you’ll get the same 0% intro APR on new card purchases. Plus you’ll earn 3% cash back on gas and 2% cash back on grocery stores (for the first $1,500 in combined grocery and gas purchases each quarter) and 1% cash back on everything else. And the cherry on top is you’ll earn an additional $100 cash back after spending $500 in the first 3 months. This card really does have it all – cash back, an extra cash back bonus, a length 0% intro APR on purchases and balance transfers AND no annual fee.

Slate® from Chase: This card was designed with credit card balance consolidation in mind. Its 15-month, 0% introductory APR on both balance transfers and purchases translates to interest-free payments until 2015. Plus, there are no balance transfer fees during the first 60 days of card membership. This is a big deal, as depending upon how much you plan to transfer, balance transfer fees can really add up. In fact, a $0 intro balance transfer fee can save you hundreds of dollars in fees, and the $0 annual fee is also a money-saver. So if you have excellent credit, you absolutely should not be paying any credit card interest. Get this card and transfer your balances.

Chase Sapphire Preferred®: This is a rewards cards with lots of flexibility. It starts off by earning you 2 points for each dollar spent on travel and dining out, and 1 point per dollar on all other purchases. That’s followed up by a 40,000 point bonus after spending $3,000 in the 3 months equal – equal to $500 in travel rewards. Redeeming your earned points via Chase’s Ultimate Rewards saves 20% off travel costs, enabling you to stretch 40,000 worth of points to $500 in travel. You can also redeem your points for cash back, gift cards and merchandise.

The best part is that you can transfer your points 1:1 to many frequent travel programs with no transfer fees, including United MileagePlus, SouthWest Rapid Rewards, Hyatt Gold Passport and Marriot Rewards. That means 1,000 points are equal to 1,000 partner miles/points, straightforward and simple. This feature is likely to appeal to road warriors who are members of various partner programs, as users aren’t limited to spending their points via Chase’s rewards program. There is a $95 annual fee, but it is waived the first year.

 

Leave a comment

Filed under Articles

Overdraft Protection And More…

Love your money!

I was listening to the Gale King show this morning for the first time and Suzie Orman was a guest. Suzie was also promoting her new book ‘The Money Class

Her advice this morning was “Do not ever sign up for overdraft protection“. Her reason is that it is just another reason for the banks to charge you more fee’s. You may only be a few cents over but you will be charged for it. It also enables you, to disregard the responsibility of spending within your means.

Make sure you know about money and don’t use the excuse of financial ignorance. Know what that student loan, buying a car, buying a house is going to cost you right to the last cent.

Another subject that she spoke about was infidelity spending. The person that she was speaking to had a 12,000 dollar credit card debt that the spouse knew nothing about.
The next question Suzie asked, blew me away. She asked “Are you about 24 lbs overweight”. The reply was “yes”.
Suzie said that with her experience in the business she found that those that were in debt were often 1-2lbs overweight per thousand dollars in debt.

Suzie of course recommended that they come clean with the spouse, even though there was a fear of divorce as a result.

I thought this was interesting, wanted to share and of course Suzie always has great, sound information to give.

Leave a comment

Filed under Articles

You Walk Away!

Arizona home

I was watching 60 Minutes the other night and watched the story about how many people are walking away from their homes and mortgages because it is no longer of economic benefit to keep their mortgage going.

The home owners who were interviewed were able to keep up their mortgage payments, but because their house had devalued so much it was not economically viable to continue to be invested in their home.

Their home had become a “Worth – Less” investment.
They had been astute enough to do the figures and realise that to continue would be financial suicide. Walking away from your home would not be an easy thing to do, some can’t do it, because of the attachment. Their decision was hard, but calculated.

An example of a young couple who bought their first home and decided to turn their back on it. They bought the house at the price of $262,000 (Real Estate was booming) their house now has been valued at $142,000.

Another couple on retirement, bought their dream home for $400,000, that home is now valued at $85,000. As you can imagine these homeowners have had to make some hard decisions.

One gentlemansaid he loves his home. He can afford to keep it and he is going to, because he loves it and cannot bring himself to walk away. He bought this house for $1.2 million and it is now valued at $850,000. He is truly upside down on this house and the stress shows in his face.

In Arizona 50% of the homes are “Under Water.” In Nevada 65% of homes are “Under Water.” This means their mortgage is higher than the value of the house.

There are 11 million homes in America “Under Water” and that number is expected to double by next year.

The banks appear to be unwilling to negotiate these people’s mortgages and they’re forcing them to rethink the value and purpose of owning and to keep paying the mortgages on their homes.

There is a stigma of allowing a foreclosure to happen to your home and concern about how it will affect your credit rating. This is something these owners and many others are prepared to risk.

There is a company called Youwalkaway.com. This Company will walk you through the process of giving up your home, if that is the decision you have made. The manager was being interviewed and I think If I was making a choice I would want someone to give me a helping hand, to go into an area of business that I am not qualified to handle, to try to avoid too many mistakes.

I think Banks and Politicians are promoting the Stigma situation and immorality of not continuing with your mortgage. I think those establishments have a moral situation of their own.

If you are in trouble with your Mortgage or deciding to walk away from it I think getting advice is a good thing, it will give you peace of mind and help unshackled the emotional burden of the Stigma of what you are about to do.

There has been Companies like Morgan Stanley that walked away from real estate in San Francisco in peak times and I am sure they were not concerned about the Stigma of it. They would have made a financial decision.

The Banks in the last 10 years have made some bad financial decisions at the cost of many home owners, so in my opinion these “Walk Aways” in most cases are based on good financial decision.

Many people in the near future will be looking at the economics of their mortgage on their home, some realising they are paying for a “Lemon.”

On the News this morning it was announced that in the last 10 weeks the USA’s national debt has gone up 300 Billion Dollars America is now fast approaching 13 Trillion dollar debt.

These figure have to make you think. If you have a hard decision to make on a financial basis I think these national figures should help you make up your mind.

Right now is a time to get out of debt.

If you can afford real estate it is the best time to buy but don’t go over your head into debt.

SOURCE; 60 Minutes

SOURCE: You Walk Away

1 Comment

Filed under Articles

Avoid Late Fees From Draining Your Bank Account

By Jean Chatzky with Arielle McGowen
Overdrafts
It’s already common to see overdraft fees of $35 or more if you overspend your account. Additionally, you’re charged interest on the money you’ve borrowed to cover your purchase. Beware of tiered overdraft fees, in which fees rise with each successive overdraft. Nine out of the 16 largest banks also have sustained overdraft fees, which means if you don’t pay off the overdraft amount and the fee in full, an additional fee gets tacked on.

These fees are particularly annoying because banks use a bookkeeping method called stacking the debt. They process transactions on a given day not in the order you make them but by the largest first. If the largest causes an overdraft, you’ll incur fees on all of the smaller ones. Ouch.

For extra protection, Greg advises linking your savings and checking accounts so you can borrow from yourself, not from the bank. At most banks, you can opt out of overdraft protection (many banks enroll you automatically). Your account may be denied if you have insufficient funds—potentially embarrassing, but not costly.

Leave a comment

Filed under Articles