Category: Credit Cards

Chase Freedom Cards: Earn 5% Cash Back at Gas Stations During February (Up To $150 in Purchases)

The Offer

Activate here for all Freedom versions | Direct Link

  • Activate to get 5% total cash back on up to $150 in combined purchases made with your Chase Freedom cards at gas stations from 2/1/21 to 2/28/21.

The Fine Print

  • To be eligible for this bonus offer, you must activate by 02/28/2021 11:59 p.m. E.T.
  • You will earn 5% Cash Back rewards total for each $1 spent in the gas station category on up to $150 in total combined purchases from 02/01/2021 to 02/28/2021.

Our Verdict

It’s just $150 in spend, but still could be a nice little bonus. I didn’t get any notification on this offer yet, but was able to activate it at the link above on my Freedom cards. If you use the generic bonus activation link it’ll work on all versions of the Freedom card, including the Freedom, Freedom Flex, Freedom Unlimited, and Freedom Student. This offer is separate from the regular 5% categories.

Hat tip to reader Smirky Cat

Source: doctorofcredit.com

What You Need to Know About the New Apple Credit Card

Man in light green shirt shopping on a tablet with his apple credit card

UPDATE: Some offers mentioned below have expired and/or are no longer available on our site. You can view the current offers from our partners in our credit card marketplace. DISCLOSURE: Cards from our partners are mentioned here.

The Apple credit card launches this summer, and it pairs the high-tech, app-based culture of the brand with some favorite credit card user perks. Before you join the flock likely to flood Apple with credit card applications, do your homework to make sure this card will meet your needs. Check out the details about the Apple credit card below, as well as some alternative credit cards you might apply for.

What’s the Apple Credit Card?

The Apple credit card is a payment card offered by Apple and issued by Goldman Sachs. Despite the Apple name on the card, whether or not a consumer is approved and the day-to-day financial management of accounts is handled by Goldman Sachs.

The design of the card and all its cash-back credit card perks, however, are courtesy of Apple and include:

  • Integration with Apple Pay and Apple Wallet
  • Integration with your iPhone or another iOS mobile device to support phone-based payments and access to accounts
  • Apple’s customary security and privacy levels
  • Cash back offers that are especially useful to Apple fans

Basic facts to know about the new Apple credit card include:

  • It comes with a 49% to 23.49% variable APR (as of 12/19/2019) depending on your creditworthiness.
  • You earn 1 to 3% cash back on purchases.
  • The Apple credit card doesn’t come with any fees—that includes no annual fee, late payment fees, foreign transaction fee and over-limit fees.
  • Though you do receive a physical card whose number you can use in Google Wallet, the Apple credit card also comes as a virtual card number designed to live in your Apple Wallet.

The wide range APRs suggest so some that the card may be available to people with a fair credit score.1 No one will know until the card actually launches though.

Benefits and Perks of the Apple Credit Card

While interest rates and credit limits are important, most consumers also choose a card based on the perks its rewards program affords them. Intelligent use of perk-related cards, such as travel rewards cards, can help you save money or earn extra pennies on cash you already plan to spend. Here’s a look at how Apple credit card perks stack up for users.

Expense and Spending Organization in One Place

Apple is making a big deal out of the user experience element of this credit card, which involves heavy integration with iPhones. The card itself is housed in the Apple Wallet app on your iOS device. Since you can only use the digital version of the card where Apple Pay is accepted, you also get a unique physical card that’s as sleek and high-tech as any Apple device.

The card’s digital component offers specific benefits:

  • You can apply for the card and, if approved, it’s immediately in your Wallet app. You can start using it the same day without waiting for a card to arrive in the mail.
  • Without using a physical card, you don’t have a card number or other elements that can be stolen, which increases the security of your account.

Apple also provides an app that lets you manage your spending and account in a single location. You can view charges based on a map to figure out where money was spent, get a color-coded breakdown of your expenses to help you budget and view visual and numeric information about how various payment amounts impact the total owed. Log in to the app when you’re ready to make a payment on your account, and you’re also provided with estimates on how much interest you’ll be charged and can see how much interest you’ll pay if you pay your card off sooner than later and vice versa.

Cash Back and Daily Cash Back with Some Purchases

The card gives account holders the chance to earn cash-back rewards too. And you get even more cash back rewards when you spend with Apple.

  • You get 3% cash back on all purchases from Apple. That includes purchases at apple.com, Apple stores, iTunes and the Apple app store. You earn cash back on the game, app and in-app purchases, including music, storage plans and books.
  • You get 2% cash back on anything else you purchase and pay with using Apple Pay.
  • If you have to break out the physical Apple Card to make a payment, you still earn 1% cash back.

Cash back is always a great perk for a credit card, but it’s especially nice when the card doesn’t have an annual fee. The Apple credit card makes cash back even more of a perk by awarding it to you the day after you spend rather than waiting for the statement cycle to close.

To make use of cash back the next day, you do have to have an Apple Cash card, which is how Apple transmits rewards to you. If you don’t have an Apple Cash card, then the cash back rewards are applied as a statement credit on your Apple credit card account.

Who Benefits Most from This Credit Card?

Because of its heavy integration with iOS technology and the Apple Wallet, the Apple credit card is more likely to be useful to Apple customers. Individuals who carry Android or other devices won’t be able to access many of the features available with this card. And if you’re not shopping with Apple or using Apple Pay, you miss the top tier cash-back rewards.

You might benefit from this card if:

  • You have an iPhone, especially if you’re prone to or like the idea of handling your finances via a single app on your device.
  • You’re an avid user of Apple technology and have already adopted Apple Pay and Apple Wallet.
  • You make a lot of purchases at Apple’s stores or using Apple subscriptions or the Apple app stores.

Alternatives to the Apple Credit Card

The Apple credit card is obviously not right for everyone. If you don’t have an iPhone, prefer Android or aren’t interested in using any or much technology for your financial management, you may want to opt for a different kind of credit card account.

For those who don’t fit the target audience for the Apple credit card, plenty of other rewards cards are available. Here are a few you might consider.

  • The Chase Freedom® Unlimited card comes with 3% cash back on your first $20,000 in purchases your first year as a cardholder. After that, you can earn 1.5% cash back on every purchase.The extra cash back your first year makes this card ideal in order to maximize your rewards. And the 1.5% after that is nothing is nothing to sneeze at.
  • The American Express® Gold card, which does require decent credit but offers some spectacular perks for those who love a fine dining experience or are always chasing the next fun foodie adventure. This card is also known as a great travel rewards card.
  • The Capital One® Quicksilver® card, which offers unlimited 1.5% cash back without limits. That makes this card an ideal daily swiper. And an APR of 0% intro on purchases for 15 months lets you double your rewards by making a large purchase and paying it off without interest in the first year or so.
  • The Credit One Bank® Platinum Visa® with Cash Back Rewards is a rewards card option for people with bad, poor or fair credit. It lets cardholders earn 1% cash back rewards on eligible purchase (some terms apply).

Apple isn’t the only—or first—company to enter the market of branded credit cards. If you like the idea of rewards that are brand-based, but you don’t use an iPhone or spend a lot at the Apple store, consider some of the options below.

  • The Montgomery Ward credit card that lets you buy now and pay later for hundreds of brands at Montgomery Ward.
  • The Kroger REWARDS Prepaid Visa® card that lets you earn rewards to use for free groceries and to save on gas.
  • The Official NASCAR® Credit card from Credit One Bank® that pays you double cash back on items purchased from the NASCAR.com Superstore (terms apply) and 1% cashback on all other purchases too.

Ultimately, there’s a credit card option for almost any spending or financial goal. Browse the selection of offers on Credit.com to find a card that works for your needs and preferences, including:

  • Cards for building or repairing credit, which usually start with lower limits that grow as you handle the account responsibly.
  • Balance transfer cards, which let you move balances from higher-interest accounts and pay them down faster to save money.
  • Rewards cards, which let you earn money on expenses you would be paying anyway, including travel, utilities, food and clothing.
  • Cards with no annual fee that let you avoid paying the card issuer to use your credit card.

Whether or not you’re approved for the Apple credit card or any of these other card offers depends on your creditworthiness. Review the information about each credit card carefully, ensuring you understand the offers, fees and rewards structures. Then, check your credit score—for free—and apply for a credit card on Credit.com.

1 https://www.cnbc.com/2019/03/26/apple-credit-card-read-the-fine-print.html

Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.

The post What You Need to Know About the New Apple Credit Card appeared first on Credit.com.

Source: credit.com

Why You Should Not Buy a Credit Privacy Number (CPN)

What Is a CPN, or Credit Privacy Number?

If you’re looking to repair your credit, you may have come across websites that advertise a credit privacy number, credit protection number or CPN. These numbers are nine digits like a Social Security number (SSN), and sellers claim that you can use them instead of your SSN. However, these CPNs are often actual SSNs lifted from real people, reportedly children, prison inmates and the deceased – and you can never legally buy a new SSN. In other words, a CPN is no solution to your credit rating problem. Under no circumstances should you try to buy a CPN.

Why a CPN is No Credit Fix

Websites have sprung up all over the internet, offering CPNs to people with bad credit or low credit scores. They advertise that this number can serve as a “get out of jail free” card for your bad credit. In theory, you can use a CPN instead of your SSN on credit applications to hide the poor credit associated with your personal SSN. If you have bad credit but still need a credit card or loan, this can seem like the solution, assuming you can pay anywhere from hundreds to thousands of dollars.

That price might seem worth it for a chance to wipe the slate clean. However, these offers are essentially a big scam. The CPNs you can buy online are not legally assigned credit protection numbers. Instead, they are usually stolen Social Security numbers, taken from children, the deceased or inmates.

Also, using a purchased CPN puts you in some hot water, too. Credit agencies can easily spot discrepancies if you try to use a CPN on an application instead of your SSN. Not only will this fail to help your credit, but it’s also committing fraud which is punishable by jail time.

How to Avoid CPN Scams 

What Is a CPN, or Credit Privacy Number?

If you’re dealing with some bad credit, don’t turn to a CPN. Only scammers sell CPNs, and they in turn may cheat you out of your personal information as well as hundreds or thousands of dollars. Using a purchased CPN can also put you in jail, even if you didn’t know the number was fraudulent. This is why it’s important to be aware of this popular scam.

If you really need a CPN or new SSN, it will be free. The process will go through the Social Security Administration Office, since a new number would be tied to your old SSN. That said, it is very hard to qualify to receive a new number. Having bad credit is never a qualifying reason.

How to Get a Legal CPN

With so many fraudulent websites and companies trying to sell you a way to reset your credit, it’s hard to know how to get a legal CPN. Unfortunately, there’s a lot of misinformation out there. Some experts say that you can speak with an attorney to obtain a legal CPN. The attorney can then contact the Social Security Administration Office on your behalf. However, others maintain that all CPNs are illegal.

Generally, it seems that you cannot get a legal CPN unless you actually need one. These situations include celebrities, government officials and people under witness protection. You can also apply in other specific instances, like if you’re a victim of abuse, stalking or identity theft. A real CPN would be attached to your SSN, so it’s still not an escape from the credit tied to your SSN.

You may also stumble upon offers to obtain an EIN, or Employer Identification Number. The IRS does issue EINs, but only businesses can use them for business costs. This means that you cannot legally obtain an EIN as an individual looking to improve your credit. You also cannot make up a home business, apply for an EIN and use that new number for a credit reset. It is a federal crime to obtain an EIN under false pretenses. In any case, the credit profile for your EIN is still tied to your SSN.

Bottom Line

What Is a CPN, or Credit Privacy Number?

You shouldn’t ever, under any circumstances, try to purchase a CPN. These offers are fraudulent and don’t provide any credit repair or relief. At the very least, buying a CPN wastes money you should put towards repaying your loans in the first place. At worst, you could go to jail for fraud. There are better, more constructive ways to repair your credit. If you’re truly in a situation that calls for a CPN, contact your lawyer for assistance.

Tips on Rebuilding Your Credit 

  • Of course, the best way to legally clean up your credit is to pay back your debts and improve your credit practices. A good place to start is to pay off your credit card debt with the highest interest.
  • Sometimes you’ll just have to wait for your bad history to fall off your record. Generally, negative info stays on your credit report for seven years. If you can’t get a debt collection removed from your credit report, for example, it’ll stay there for seven years. However, as time goes on, the toll it takes on your report lessens.
  • Don’t go it alone. If you have a good income, but you’re just bad at managing your money, a financial advisor can help. With guidance, you can make smarter choices – and even start growing your wealth. To find an advisor, use our free, no-obligation matching tool. It will connect you with up to three advisors in your area.

Photo credit: Â©iStock.com/becon, Â©iStock.com/Xesai, Â©iStock.com/Kerkez

The post Why You Should Not Buy a Credit Privacy Number (CPN) appeared first on SmartAsset Blog.

Source: smartasset.com

Starting a Business With a Friend: 4 Things to Consider

The ultimate question: Could you and your friend make the perfect business duo? The answer may be more complicated than you think. You love spending time with your friend and the idea of becoming entrepreneurs together. Why not fulfill your dreams with each other? Companies like Airbnb and Ben & Jerry’s had success in this area — they all started from friendships.

But much more goes into starting a business with a friend. You may make great business partners, or you could wish you had taken your venture solo. Before making any financial decisions, analyze the pros and cons and ask hard questions. For example, will you equally invest? Who will take on which tasks and responsibilities? Sift through the easy and hard questions to see where your business friendship lies.

To help you and your friend make a confident and informed decision, skip to our flowchart or keep reading.

karen-gordon-quote

Questions to Ask Before Going Into Business With a Friend

Before jumping into your business plan, ask the hard questions. These can be tough to ask and answer, but they could save your friendship from a business relationship gone sour.

Question 1: Do You Share the Same Values?

Depending on your life stage and goals, your values could differ greatly from those of your potential business partner. You may appreciate living a relaxed lifestyle that gives you the financial freedom to do what you love, while others may value a fast-paced lifestyle filled with activities and long workdays. Differences in values could spark tension in your business relationship.

Ask yourself: Do you and your potential business friend have the same values? If so, great! If not, note your differences and if they’re worth working through.

Question 2: Do You Share the Same Business Goal?

To make sure you’re on the same page, schedule a brainstorming session with your friend. Map out your one-month, six-month, one-year, and five-year goals for your startup. Is your goal to make a certain amount of revenue? To hire a certain number of full-time employees? Or to take your business idea global?

If you have the same intentions, move on to question three. If any of your goals contrast, there may be trouble in paradise. See if you can work through your differences before investing your time and money.

Question 3: Do Your Skills Complement Each Other?

You and your friend each have your own strengths For example, you may be good at time management while your friend is better at sales. For skills you’re both lacking, think about how you’ll fill in the gaps. If you and your friend’s startup plan has a budget for hiring freelancers, or one of you has the dedication to learn something new, this may not be a concern. No matter what, especially if you’re bootstrapping your business idea, it’s essential to talk through it.

If you don’t compliment each other’s needed skills, who will step up and learn them?

Question 4: Do Your Career and Lifestyle Habits Align?

Depending on your business goals, this could be a make or break question for a professional partnership. For instance, one friend may be a morning person while the other’s a night owl. One can take over morning meetings and emails while the other’s responsible for evening website development and customer service.

If one friend’s lifestyle habits don’t suit the other, it may be best to opt for other business opportunities. While starting a business could adjust your habits, it’s easy to fall back into old ones from time to time.

baylie-carlson-quote

The Pros and Cons of Doing Business With Friends

Before entering any business arrangement, it’s reassuring to weigh the pros and cons. Could your new business idea benefit or hinder your future relationship and career?

Pros: You Have a Friend Through the Ups and Downs

Starting a business with a friend is similar to marriage — you’re there for each other through the good and bad. Whenever you’re having trouble, you know who you can go to for help. And you’ll be able to do most tasks together. For example, approaching investors as a team vs. going solo could put your nerves at ease.

Cons: You Know the Same People

Instead of getting together for your weekly catch-ups, you could spend all day together! While this can be exciting, it can also be hard to leave work at work. When you both hang out with the same people, there may be little room to disconnect from each other and your business.

Pros: You Understand Each Other’s Strengths and Weaknesses

You likely already know how each other operates and your strengths and weaknesses. Instead of learning the way a new business partner functions, you already have the upper hand. On day one, you and your partner could delegate tasks that fit everyone’s strengths best.

Cons: Your Friendship Could Turn Strictly Business

Your current friendship can be hard to separate from your new work partnership. Taking your work too seriously could stiffen your current relationship. Even after your work’s done, “friend” time may slow down. To have the best of both worlds, over-communicate throughout your entrepreneurial adventures.

mike-falahee-quote

Pros: You Feel Comfortable Communicating

You may have been friends for months, years, or even decades. Having a strong friendship foundation helps bolster your communication in the workplace. Plus, you most likely know how your friend may react to a situation gone wrong. Take note of your friends’ communication habits and foster them throughout your business relationship.

Cons: It’s Easy to Let Emotions Get the Best of You

Be careful not to let your emotions dictate your business decisions. A situation could happen in your friend group that makes its way into the office. To avoid any personal matters in the workplace, come to an agreement — no drama. If situations arise, take some time off to clear your mind, rest, and come back more motivated and inspired.

Pros: You Get to Spend More Time With Each Other

You get to spend countless hours talking and doing business activities together. You could spend all day tackling business tasks and wrap up the workday chit-chatting about your lives. It’s an amazing opportunity to spend more time with your friend without letting other responsibilities slip through the cracks.

Cons: Friendship Failure Could End in Financial and Business Failure

When tension builds in the workplace, it could damage your business outcomes. Not wanting to attend a meeting with your partner could halt business productivity, or worse, end it. To avoid losing profits on your friendship and investments, you should both outline an exit plan if things go wrong.

Tips for Starting a Business With Your Friend

Before toasting to your other half and investing in your passions, properly prepare yourself. Show up to your new business like you would a new job. Have your plan documented before building your business empire.

1. Nit-Pick Your Business Plan

Small issues could grow months or years after starting your business. To avoid future problems, talk through small and large inconsistencies with your partner. Having different lifestyle habits may not be an issue now, but could be difficult after a year of working together.

2. Communicate Often

About one third of projects lack proper communication. Avoid project or business failure by finding a communication method that works for you and your partner. Daily catch-up meetings or weekly email updates are a few examples. Make it enjoyable by sipping your favorite coffee or eating your lunch while playing catch up.

3. Establish and Honor Boundaries

Eliminate tension in the workplace by setting a rubric for working hours. Avoid talking about personal matters until you step away from your work tasks. If you and your partner need to establish additional boundaries, clearly outline them as they come up.

4. Make it Official With Contracts

Once you’ve worked through any complications, put it all in writing. If things were to go wrong, documents and written statements can be referenced in court. To do this, contact a lawyer and draft up a business plan. Any business promises you make should be in writing for any miscommunications. Compensation rates, profit shares, investment contributions, and business accounts are a few things that should be listed on this document.

Before investing your time, energy, or money into your startup dreams, make sure you’re fully prepared. Could you and your friend be great business partners? Take our quiz below to find out. Don’t forget to keep track of your budget and investments throughout the startup process.

Starting a Business With a Friend: 4 Things to Consider appeared first on MintLife Blog.

Source: mint.intuit.com

[Update] Amex Benefits Workshop – Which Merchants Code For Streaming, Wireless, Shipping Credits? (Sortable Table)

Update 2/3/21: There are two AmEx deals on the Wireless category, and the data points within this table should work for those offers as well:

  • American Express Adds Wireless Credit To Delta, Hilton & Marriott Business Cards ($10-$15 Monthly Credit)
  • Amex Offers (Business Platinum/Gold): Get 4x Bonus Membership Rewards On Wireless, Shipping, Advertising, Gas and Office Supply

(Table last updated on 10/1/20 at 12:40pm ET. If the table isn’t displaying properly, try incognito or CTRL+Shift+R.)

Introducing Benefits Workshop for the new American Express statement credit offers in the Streaming, Wireless, and Shipping categories. There are many merchants mentioned directly by Amex (which we’ve also included in the table below), yet most will have to be dealt with by trial-and-error to ensure that a given merchants is categorized properly to be eligible for the credit.

All the data points below are from DoC comments and from the Reddit thread that deals with this. We figured it’s easier for people to find things in a consolidated place in table form with easy search.

  • American Express personal Platinum card (all versions) get a $20 monthly Streaming credit and a $20 monthly Wireless credit from May through December 2020.
  • American Express business Platinum card gets a $20 monthly Wireless credit and a $20 monthly Shipping credit from May through December 2020. (There’s also the $200 Dell credit, but that one is basically straight-forward and don’t really discuss that in the table below.)
  • American Express personal Green card gets a $10 monthly Wireless credit from May through December 2020. 
  • Also bear in mind that these credit can be used in multiple smaller transaction, e.g. a $8 charge and a $12 charge will both be credited.

I hope to expand this table over time as more data points come in – please contribute successes and failures in the comments below! I’ll also add these data points to our Payments Workshop as well.

 

Merchant Tag Workshop Last Updated Source
Acorn TV (RLJ Entertainment) Streaming Does not credit automatically 2020-07-02 Source
Amazon balance reload Streaming Does not work 2020-05-11 Source
Amazon gift card Streaming Does not work (but you can buy Kindle gifting to get credit) 2020-05-31 Source
Amazon HP Instant Ink eCode Streaming Works 2020-05-24 Source
Amazon movie rental Streaming Works 2020-05-08 Source
Amazon Music Unlimited Streaming Works 2020-05-08 Source
Amazon Prime subscription (student) Streaming Does not work 2020-05-11 Source
Amazon Prime Video (movie purchase) Streaming Works 2020-05-11 Source
Amazon Prime Video (tv show purchase) Streaming Works 2020-05-11 Source
Apple app subscription Streaming Works 2020-05-08 Source
Apple book purchase Streaming Works 2020-05-12 Source
Apple iCloud storage Streaming Works 2020-05-13 Source
Apple ID account load (via app store) Streaming Works 2020-05-11 Source
Apple ID load Streaming Works 2020-05-08 Source
Apple Music Streaming Works 2020-05-08 Source
Apple Music 3-month subscription Streaming Works 2020-05-08 Source
Apple TV+ Streaming Works 2020-05-08 Source
AT&T Wireless Works 2020-05-08 Source
AT&T business wireless Wireless Works 2020-05-11 Source
AT&T home phone service Wireless Works 2020-05-08 Source
AT&T in-store purchase Wireless Does not work 2020-08-14 Source
AT&T internet UVERSE payment Wireless Works 2020-08-14 Source
AT&T Now Streaming Works 2020-05-08 Source
AT&T payment Wireless Works 2020-05-11 Source
AT&T payment on app Wireless Works 2020-05-11 Source
AT&T Prepaid Wireless Wireless Works 2020-05-11 Source
AT&T TV Now Streaming Works 2020-05-08 Source
AT&T U-verse Wireless Does not work 2020-05-08 Source
AT&T U-Verse Wireless Works 2020-10-01 Source
AT&T wireless & internet bundle Wireless Works 2020-07-02 Source
AT&T wireless bundle with Directv/etc online payment without login Wireless Works 2020-07-02 Source
AT&T wireless/internet bundle Wireless Does not work 2020-05-11
Audible Streaming Works 2020-05-08 Source
Audible audiobook purchase Streaming Works 2020-05-08 Source
Audible monthly subscription fee Streaming Works 2020-05-11 Source
Boost Mobile Wireless Works 2020-05-08 Source
CBS All Access Streaming Works 2020-05-08 Source
Consumer Cellular manual payment Wireless Works 2020-05-11 Source
Cricket wireless bill Wireless Works 2020-05-11 Source
Cricket wireless bill Wireless Works 2020-05-11 Source
Criterion Channel subscription (annual) Streaming Does not work 2020-05-17 Source
Crunchyroll premium Streaming Does not work 2020-08-14 Source
Dell.com (xbox gc) Dell Works 2020-05-11 Source
Disney plus bundle (Disney+, Hulu and ESPN+) Streaming Works 2020-05-08 Source
Disney+ Streaming Works 2020-05-08 Source
eBay shipping Shipping Does not work 2020-05-08 Source
ESPN+ Streaming Works 2020-05-08 Source
FandangoNow Video Rental Streaming Does not work 2020-07-02 Source
FedEx Office store purchase Shipping Does not work 2020-05-13 Source
FedEx shipping at FedEx Office Shipping Works 2020-05-17 Source
FedEx store purchase Shipping Does not work 2020-05-11 Source
Frontier Internet/Ziply Fiber bill Wireless Does not work 2020-05-24 Source
Fubo TV Streaming Works 2020-05-08 Source
Good2Go mobile Wireless Does not credit automatically 2020-07-02 Source
Google domain renewal Streaming Works 2020-06-12 Source
google domains Streaming Works 2020-10-01 Source
Google Fi Streaming, Wireless Works as Streaming, does not work as Wireless 2020-05-08 Source
Google Fi Streaming, Wireless Sometimes works as Streaming, sometimes works as Wireless 2020-05-24 Source
Google Fi Streaming, Wireless Does not work for either category 2020-05-24 Source
Google Fi Wireless Works (as wireless) 2020-05-27 Source
Google Fi Streaming, Wireless Works as Wireless (YMMV) 2020-06-12 Source
Google Fi Streaming, Wireless Depends on how they code it 2020-07-02 Source
Google Fiber bill Streaming Works 2020-05-17 Source
Google Fiber monthly bill Wireless Does not work 2020-08-14 Source
Google Fiber reload Streaming Does not work 2020-06-12 Source
Google music-album purchase Streaming Works 2020-05-24 Source
Google nest subscription Streaming Works 2020-05-08 Source
Google Play in-app purchase Streaming Works 2020-05-11 Source
Google Play Music Streaming Works 2020-05-11 Source
Google play reload Streaming Works 2020-05-11 Source
Google Play Store – app purchase Streaming Works 2020-05-08 Source
Google Storage Streaming Works 2020-05-13 Source
Google storage Streaming Works 2020-05-31 Source
Google Voice load Streaming Works 2020-07-02 Source
Google Voice number unblock fee Wireless Works 2020-06-12 Source
Google Voice recharge Streaming Works 2020-05-24 Source
H2O Wireless reload (pay as you go) Wireless Works 2020-05-24 Source
HBO Max Streaming Works 2020-05-08 Source
HBO Now Streaming Works 2020-05-08 Source
Hulu Streaming Works 2020-05-08 Source
iCloud storage fee (99c) Streaming Works 2020-05-08 Source
iHeartRadio Streaming Works 2020-05-08 Source
Kindle Book purchases (Amazon) Streaming Works 2020-05-13 Source
Kindle eBook gifting purchase Streaming Works 2020-05-31 Source
Kindle subscription auto-renewal (Amazon) Streaming Works 2020-05-17 Source
Kindle Unlimited (Amazon) Streaming Works 2020-05-08 Source
Kindle Unlimited gift membership Streaming Works 2020-05-31 Source
Luminary Streaming Works 2020-05-08 Source
Metro by T-Mobile Wireless Works 2020-05-12 Source
Mint Mobile Wireless Works 2020-05-08 Source
Mint Mobile Wireless Stopped working 2020-08-14 Source
Mint Mobile Wireless Working again 2020-10-01 Source
Mint mobile load Wireless Works 2020-05-11 Source
Mint Mobile Uproam reload Wireless Works 2020-05-11 Source
MLB.TV Streaming Works 2020-05-08 Source
NBA League Pass Streaming Works 2020-05-08 Source
Netflix Streaming Works 2020-05-08 Source
Netflix DVD Plan Streaming Works 2020-05-13 Source
Netflix paid in foreign currency Streaming Does not work 2020-05-13 Source
netflix physical dvd plan Streaming ? 2020-05-08 Source
NHL.TV Streaming Works 2020-05-08 Source
NordVPN subscription Wireless Does not work 2020-08-14 Source
OnStar Wireless Works 2020-05-13 Source
Optimum Online Wireless Does not work 2020-05-13 Source
PackageBoss Shipping Does not work 2020-06-12 Source
Pandora Streaming Works 2020-05-08 Source
Pandora Plus Streaming Works 2020-05-11 Source
Philo subscription Streaming Does not work 2020-05-11 Source
PhotoStamps.com Shipping Does not work 2020-05-17 Source
pirateship Shipping Works 2020-05-11 Source
Pitney Bowes postage meter Shipping Works 2020-05-13 Source
Postal Annex Shipping Did not post automatically 2020-10-01 Source
Pottery Barn Wireless Works 2020-08-14 Source
Prime Video Streaming Works 2020-05-08 Source
Pure Talk USA Wireless Works 2020-05-11 Source
Red Pocket Mobile Wireless Works 2020-05-13 Source
Republic Wireless bill payment Wireless Works 2020-06-12 Source
sappclub.com Shipping Works 2020-10-01 Source
Shipping label purchased via PayPal Shipping Does not work 2020-05-11 Source
Showtime Streaming Works 2020-05-08 Source
Shudder Streaming Does not work 2020-05-13 Source
Siriusxm Streaming Works 2020-05-08 Source
SiriusXM gift card purchase Streaming Does not work 2020-05-13 Source
SiriusXM Streaming and Satellite Streaming Works 2020-05-08 Source
Sling TV Streaming Works 2020-05-08 Source
Sling TV Streaming Works 2020-05-11 Source
Soundcloud Streaming Does not work 2020-06-12 Source
Spectrum internet Wireless Does not work 2020-05-08 Source
Spectrum Mobile bill Wireless Works 2020-05-11 Source
Spotify Streaming Works 2020-05-08 Source
Spotify (edu subscription) Streaming Works 2020-05-11 Source
Spotify Family Streaming Works 2020-05-17 Source
Spotify Premium Streaming Works 2020-05-11 Source
Sprint Wireless Works 2020-05-08 Source
Sprint auto-pay Wireless Works 2020-05-11 Source
Sprint bill auto-pay Wireless Works 2020-05-08 Source
Sprint bill manual payment Wireless Works 2020-05-24 Source
Stitcher Streaming Works 2020-05-08 Source
Straight Talk Cell Wireless Works 2020-05-13 Source
Subscription via Apple Pay Streaming Works 2020-05-11 Source
T-Mobile Wireless Works 2020-05-08 Source
T-mobile (direct, postpaid) Wireless Works 2020-05-11 Source
T-Mobile Apple Pay (T-Mobile Payments) Wireless Works 2020-05-11 Source
T-Mobile autopay Wireless Works 2020-05-12 Source
T-Mobile bill payment Wireless Works 2020-05-11 Source
T-Mobile equipment payment Wireless Works 2020-05-11 Source
T-mobile magenta Wireless Works 2020-08-14 Source
T-Mobile manual payment Wireless Works 2020-05-11 Source
T-Mobile paid via Apple Pay Wireless Works 2020-05-11 Source
T-Mobile Prepaid Wireless Works 2020-05-11 Source
T-Mobile store purchase (accessories) Wireless Works 2020-05-11 Source
Tello.com Wireless Works 2020-07-02 Source
Teltik Wireless Does not work 2020-05-08 Source
Tidal Streaming Does not work 2020-05-17 Source
Ting Wireless Conflicting data points if it works 2020-06-02 Source
Ting autopay Wireless Works 2020-07-02 Source
Total wireless Wireless Works 2020-05-17 Source
Tracfone Wireless Works 2020-05-17 Source
Tracfone airtime purchase Wireless Works 2020-05-17 Source
Twigby Wireless Works 2020-06-12 Source
Twitch Streaming Does not work 2020-05-08 Source
Ua mobile family plan Wireless Works 2020-05-13 Source
UaMobile load Wireless Works 2020-05-11 Source
UPS MyChoice Shipping Works 2020-05-08 Source
UPS Store Shipping Works 2020-06-12 Source
UPS Store notary service Shipping Works 2020-08-14 Source
UPS Store shipping cost in-store Shipping Does not work 2020-06-12 Source
ups.com shipping purchase Shipping Works 2020-07-02 Source
US Mobile Wireless Does not work 2020-05-13 Source
USPS Change of Address fee Shipping Works 2020-07-02 Source
USPS Gift shop Shipping Works 2020-05-11 Source
USPS in-store stamps purchase Shipping Works 2020-05-13 Source
USPS Passport acceptance fee Shipping Works 2020-08-14 Source
USPS PO Box renewal Shipping Works 2020-05-13 Source
USPS self-service kiosk Shipping Works 2020-05-11 Source
USPS shipping label purchase Shipping Works 2020-05-11 Source
USPS stamps purchased online Shipping Works 2020-05-11 Source
Verizon Wireless Works 2020-05-08 Source
Verizon accessory purchase online Wireless Works 2020-10-01 Source
Verizon airpods pro purchase Wireless Works 2020-05-11 Source
Verizon cell phone purchase Wireless Works 2020-05-24 Source
Verizon Fios Wireless Does not work 2020-05-08 Source
Verizon Fios Wireless Works 2020-05-08 Source
Verizon Fios Wireless Works 2020-05-11 Source
Verizon fios (manual payment) Wireless Works 2020-05-11 Source
Verizon in-Store physical gift card purchased Wireless Works 2020-05-31 Source
Verizon monthly bill Wireless Works 2020-05-11 Source
Verizon online (accessory purchase) Wireless Works 2020-05-17 Source
Verizon online accessories Wireless Works 2020-06-12 Source
Verizon Online Accessory Purchase Wireless Does not work 2020-06-12 Source
Verizon Online Accessory Purchase Wireless Does not work 2020-06-12 Source
Verizon physical gift card purchased online Wireless Works (YMMV) 2020-05-11 Source
Verizon physical gift card purchased online Wireless Does not work (YMMV) 2020-05-13 Source
Verizon physical gift card purchased online Wireless Does not work (YMMV) 2020-05-17 Source
Verizon physical gift card purchased online Wireless Works when checking out as guest (maybe?) 2020-05-19 Source
Verizon physical gift card purchased online Wireless Works 2020-05-30 Source
Verizon shop purchase Wireless split purchase between cards via chat 2020-05-24 Source
Verizon Wireless partial bill payment Wireless Works 2020-05-13 Source
Viki.com via Apple Pay Streaming Works 2020-05-11 Source
Vimeo Streaming Does not work 2020-06-12 Source
Visible Apple Pay payment Wireless Works 2020-05-11 Source
Visible Wireless Wireless Works 2020-05-13 Source
VRV subscription (direct payment) Streaming Works 2020-05-11 Source
VRV subscription (direct payment) Streaming Does not work 2020-07-02 Source
Vudu purchase Streaming Does not work 2020-05-17 Source
Xfinity Mobile Wireless Works 2020-05-11 Source
Xfinity Mobile fractional payment by calling in Wireless Works 2020-06-12 Source
YouTube Music Premium Streaming Works 2020-05-08 Source
YouTube Premium Streaming Works 2020-05-08 Source
YouTube TV Streaming Works 2020-05-08 Source
Youtube TV show purchase Streaming Works 2020-05-17 Source

 

You can sort this in various ways:

  • Search a given merchant, e.g. usps or t-mobile.
  • Get a list of all Streaming or Wireless or Shipping data points by searching for that key word, e.g. streaming.
  • Toggle the date to find newly added data points.
  • Default setting sorts in alphabetical order.
  • You can update how many items you want to show at the top-left of the table. By default it shows 10.

Source: doctorofcredit.com

Prepare for Holiday Shopping with These Timely Credit Tips

According to a YouGov Parent Survey in 2019, a quarter of parents entered the 2019 holiday shopping seasonstill paying down debt related to 2018 holiday spending. Deloitte numbers put holidayretail salesgrowth in 2019 at 4.1% year-over-year. In 2020, Deloitte predicts growth of between 1% and 1.5% year-over-year for the holiday season.

It might be that some people no longer want to pay for holiday gifts, decorations and food a year down the road. But it’s also true that the COVID-19 pandemic has hit consumerwallets and some people might be cutting back this year.

That doesn’t mean that people aren’t shopping. Google and other thought leaders note that changes to shopping habits and the need for social distancing and other measures will likely spread the holiday shopping season out longer. Shoppers are also likely to turn to online shopping.

With a ton of shopping opportunities, a longer holiday shopping season and pent-up pandemic energy, it might be easy to overspend and create debt you’ll deal with into the future. Follow these tips to prepare for holiday shopping so you can protect your financial standing, save money and make the most of the resources you have this season.

1. Check your credit scores

Begin by checking your credit scores and reports. They tell you where you stand if you want to apply for credit. They also give you a baseline of where you are so you know if your score goes up or down later with no explanation.

An unexplained drop in your credit score can be a sign your financial information is compromised. Unfortunately, the holidays are prime time for many scammers. Using a service, such as ExtraCredit’s Track It feature to keep tabs on 28 of your FICO scores, helps you know when you need to act to protect your credit.

2. Ask for a credit limit increase

If you have existing credit cards and you’re a cardholder in good standing, the months prior to the holidays can be a good time to ask for a credit limit increase. You’re not asking so you can spend more-it’s typically advisable to keep spending in line with your budget no matter how much credit you have.

You’re asking for a higher limit so you can spend what you already planned to without hurting your credit utilization. Credit utilization is the second-most important factor in determining your credit score-second only to payment history. It’s the ratio between your credit limit and how much of that credit you have used.

If you have a card with a limit of $1,000 and you spend $300, that’s a utilization rate of 30%. But if you get approved for a credit limit of $2,000 and you spend $300, that’s a utilization rate of only 15%, which is better for your score.

3. Apply for a credit cardwith a 0% APR introductory offer

Those with good or excellent credit might want to consider applying for a card with a 0% APR introductory offer. If you qualify for such a card, you typically have one or two years to pay off purchases made during the introductory period without accruing any interest.

This can be a way to finance your entire holiday without paying anything more for the privilege of doing so. However, it’s still important to maintain your budget and not overspend just because you won’t be paying the balance off until later. Otherwise, you make this season’s holiday festivities next season’s problem.

4. Pay down debt before-and after-the holidays

Speaking of last season’s debt: If you can pay it down before you start spending this season, that’s a great accomplishment. It also frees up your credit and your budget so you can better enjoy the current holiday season. If you’re paying $100 a month on your debt, that’s $100 a month that might go toward gifts or celebrations that you don’t have to put on a card this year.

If you do use credit to pay for the 2020 holidays, have a plan for paying it down as soon as possible. That’s especially true with 0% interest cards. The longer you wait, the greater the chance you’ll miss the introductory period and potentially be on the hook for a lot of interest expense.

5. Create a holiday spending budget

Whether you’re using cash or credit-or a mix of both-enter the 2020 holiday shopping season with a plan. Take an honest look at your personal budget. If you don’t have a budget, create one before you move forward. Then decide how much you can realistically spend during the holidays.

Consider which gifts you want to buy and which events you want to host or attend. You might not be able to do everything, and that’s OK. Be honest with yourself, your family and your friends about what you can afford to do with your time and money this year.

Then make a list and assign each item a monetary budget. That can include:

  • Gifts as a total
  • Gift extras, such as wrapping and tags
  • Shipping, both for receiving items you buy and for shipping gifts to others
  • Food and drinks
  • Travel
  • Decor
  • General festivities, such as tickets to holiday events

Once you assign a dollar amount to a category, stick to it. That’s a good idea even if you’re spending with credit.

6. Align budgeted spendingwith credit cardrewards

Once you know how much you want to spend, decide how best to spend it. If you’re using credit cards for the holidays, check your accounts to see if any offer cash back or rewards points. If they do, double-check which categories or stores you can shop in to earn the most points with each card.

For example, some travel rewards cards offer 6x points when you shop at supermarkets. You could use such a card to cover the food-and-drink portion of your holiday budget and reap the biggest rewards possible from that spending. You might also be able to maximize rewards when purchasing gift cards.

7. Guard your financial information and identity

As you enjoy holiday shopping, be on guard. Don’t use debit card PIN numbers unless you have to, and shield the keypad when you enter your information. Keep a close eye on your wallet or purse, and check your credit card statements regularly to ensure all charges are yours. You can also use ExtraCredit’s Guard It feature to help keep your identity and account information safe during and beyond the season.

Sign up for ExtraCredit today!

The post Prepare for Holiday Shopping with These Timely Credit Tips appeared first on Credit.com.

Source: credit.com

All About Credit Card Processing Fees

All About Credit Card Processing Fees

When you make a payment with a credit card not all of that money goes to the merchant. Your payment has to be authorized by multiple companies or banks along the way and some of them will deduct fees for their services. A portion of your payment goes to your card issuer’s bank, the merchant’s bank, the big payment networks such as Visa and Mastercard as well as payment processing companies. Here’s what you need to know about credit card processing fees.

What Happens When You Make a Credit Card Transaction

Before we break down the individual credit card processing fees, it’s helpful to give a quick rundown of what happens when you make a payment with your credit card.

When you try to make a purchase with your card, whichever credit card processor the merchant uses will need to receive authorization to complete the transaction. To do that, the first step is to send your information and the transaction details to the appropriate payment network, Visa, Mastercard, American Express or Discover.

The payment network then contacts the bank that issues your credit card. Your card issuer has to confirm that you have enough available credit to cover the purchase you are trying to make. If you have enough available credit, it will approve the transaction. If you don’t have enough, it will deny the transaction. That approval or denial goes back to the payment network, who sends its approval (or denial) of the transaction back to the merchant’s bank.

This entire process only takes a few seconds but it happens every time you make a purchase with your card. It doesn’t matter whether you swipe, insert a card with an EVM chip or manually enter your credit card number.

Average Credit Card Processing Fees Average Credit Card Processing Fees Visa 1.40% – 2.50% Mastercard 1.60% – 2.90% Discover 1.56% – 2.30% American Express 1.60% – 3.00%

The table above lists an an average range for credit card processing fees from each major credit card provider. These ranges are meant only to give you an idea of how it works. There are a number of things that go into the final processing fees for any individual merchant (more on that later). Credit card issuers also are not always transparent with their fees and how they change over time. This is particularly true of Discover and American Express. However, credit card processing fees generally average around 2%. Another key trend is that American Express regularly charges higher fees.

Credit Card Processing Fees: Interchange Fees

All About Credit Card Processing Fees

An interchange fee is money that merchants pay every time they make a credit or debit card transaction. It’s typically a percentage of the transaction plus a flat rate for each transaction. For example, an interchange fee might be 1% of the transaction plus a flat fee of $0.25 per transaction.

This fee goes to the credit (or debit) card’s issuing bank so that it can cover its own fees. In general, a credit card issuer will charge higher fees for cards that offer more perks of benefits. However, the biggest fee that your card issuer has to pay is an assessment fee. This goes to the credit card network (e.g. Visa or Mastercard) and all networks charge the same assessment fee.

Interchange fees make up the majority of credit card processing costs for a merchant. There is a base part of the interchange fee that is non-negotiable because it is the same no matter what credit card companies a merchant works with. There is also a markup fee, which is an additional cost on top of the base fee. The markup goes to credit card processing companies (learn more about them in the next section) and they vary between processors. These fees are negotiable so a merchant should always compare these fees before choosing a company to process their transactions.

Credit Card Processing Fees: 
Merchant Service Providers

Even though merchants have to contact card-issuing banks to approve every transaction, they do not directly contact those banks. Instead, the transaction goes through a middle man that allows merchants and banks to communicate. This middle man is a merchant service provider (MSP). Common MSPs are Square and Payline.

MSPs charge merchants a certain fee for every transaction, whether it’s a sale, declined transaction or return. They may also charge the merchant a setup fee, a monthly usage fee and a cancellation fee.

Some merchants may have a bank that provides these services, but the majority of merchants have to use a third party MSP.

Online Versus In-Store Transactions

Credit card processing fees are cheaper if you pay in-person versus online. That’s because there is a greater risk of fraud with online payments. If you buy something in a store, the merchant has the ability to confirm that someone if using a real card and that they are the cardholder. This is harder to do with an online payment. The result is higher fees as companies try to protect themselves from fraudulent payments.

MSPs also charge additional fees for providing the software that makes an online payment transaction possible for a merchant.

The Bottom Line

All About Credit Card Processing Fees

It only takes a few seconds for a credit card transaction to go through, but there is a lot going on behind the scenes. Multiple banks and companies help facilitate transactions and they all want their cut of the profit. This is where credit card processing fees come in. A merchant has to pay an interchange fee every time a transaction is made, some of which is non-negotiable and some of which varies depending on the merchant service provider that a merchant uses.

A merchant bears the brunt of credit card processing fees and some merchants cannot afford to pay all the fees. This is a common reason why smaller merchants do not accept credit cards. These fees are also the reason that some merchants will require a minimum transaction amount in order to use a credit card.

Common Credit Card Fees to Avoid

  • Some credit cards charge an annual fee. This is a fee the cardholder pays each year simply for the privilege of having the card. Annual fees are particularly common for credit cards that offer valuable rewards. Shop around though because you can avoid an annual fee with some of this year’s best rewards credit card.
  • If you plan to travel, using your card outside of the U.S. could leave you paying a foreign transaction fee. Luckily, we have some cards with no foreign transaction fee in our list of the best travel credit cards.
  • One fee that you can avoid with responsible credit card usage is a late payment fee. This is a fee that your card issuer will charge if you do not pay your bill by the due date. You should always pay on time because paying late will not only result in a fee but your credit score could also be negatively impacted.

Photo credits: ©iStock.com/Juanmonino, Â©iStock.com/NoDerog, Â©iStock.com/andresr

The post All About Credit Card Processing Fees appeared first on SmartAsset Blog.

Source: smartasset.com

How to Maximize Rewards on Everyday Spending

Woman using credit card on everyday spending

While many rewards enthusiasts focus on signing up for new credit cards to earn signup bonuses, not everyone has the time or desire to play the signup game. There is effort involved in tracking multiple cards, annual fees, and rewards programs, after all, and some people don’t want to spend their time or mental energy this way.

If you’re someone who falls into this category, you may be better off maximizing one or two cards instead of chasing rewards. Fortunately, you can earn plenty of rewards over time if you’re savvy about your card’s benefits and bonus categories.

The key to getting the most out of your rewards cards is understanding how they work and looking for opportunities to earn more points on your everyday spending. Here are some tips that can help.

Brainstorm every bill you could pay with a credit card

Because rewards cards offer points based on each dollar you spend, maximizing the amount you can spend on credit is the best way to boost your rewards haul. The smartest strategy to use here is figuring out how many of your monthly bills you can pay with a credit card.

While you may not be notified or aware, it’s possible that bills you’ve been paying with a check or debit card for years can be paid with a credit card without any fees. While your bills may vary, some expenses you should try to pay with a credit card include:

  • Rent
  • Utility bills like electric or gas
  • Health insurance
  • Cable television and internet
  • Cell phone
  • Taxes
  • Daycare
  • Auto and home insurance
  • Subscription services
  • College tuition or student loans
  • Medical bills
  • Lawn care

Keep in mind that these are just some of the bills you could be paying with credit. Depending on your situation, you could have additional, uncommon expenses to cover that could be paid with credit with ease.

Also, remember that these additional bills should be paid with credit on top of your everyday expenses like groceries, dining out, gas or bus fare, and miscellaneous spending. Every time you buy something in person or online, you should strive to pay with your rewards card if you can.

Leverage your rewards card bonus categories

It’s also important to leverage your favorite card bonus categories, whatever they may be. This is especially important if you have a few cards with different bonus categories since you’ll want to make sure you’re using the right card for bills that let you earn bonus points.

Let’s say you have a travel credit card that earns 3x points on dining and travel and another card that earns 6x points at the grocery store. In that case, you would be smart to use the travel card for dining and travel purchases and your other card when you stock up on food. While the amount of rewards you earn with individual purchases may seem nominal, using the right card for the right purchase can help you earn a lot more rewards over time.

Set up auto-pay bills to be paid with credit

Most of us have bills set up to be paid automatically, whether it’s our Netflix and Hulu subscriptions, gym membership, or utility bills. Make sure each bill you have set up to be paid automatically is set up to be paid with your rewards card and not a debit card. This way, you can earn rewards points on those expenses every month.

Use shopping portals and dining clubs

Many flexible rewards programs, frequent flyer programs, and hotel loyalty programs have shopping portals you can access to earn extra points. Major airlines like American, Delta, and United also have shopping portals that work similarly. (See also: How to Maximize Rewards Through Credit Card Shopping Portals)

Some programs like Southwest and Delta also offer dining clubs. These programs let you earn additional points or miles just for dining at participating restaurants in your area. It’s easy and it’s free to join, so you may as well earn extra miles on your spending if you’re going to dine out anyway. (See also: Everything You Need to Know About Airline Dining Rewards Programs)

How much the average family can earn

If you are skeptical the average family can rack up meaningful rewards without signing up for new cards over and over again, look at how this might work in real life. For example, imagine a family of four with two rewards card-toting adults. Across the two of them, they have:

  • A cash back card that earns 2% back
     
  • A travel credit card that earns 3% on dining and travel
     
  • A rewards card that earns 6% cash back at the grocery store on up to $6,000 in spending each year

To figure out how much this family might earn, we used Bureau of Labor Statistics spending averages from 2017. Here’s a rundown of that data for the year plus how much a family could earn in rewards over 12 months based on average expenses:

  • Food at home ($4,363): $261.78 in rewards at 6%
     
  • Food away from home ($3,365): $100.95 at 3%
     
  • Utilities, fuels, and public services ($3,836): $76.72 at 2%
     
  • Household operations ($1,412): $28.24 at 2%
     
  • Household supplies ($755): $45.30 at 6%
     
  • Household furnishings and equipment ($1,987): $39.74 at 2%
     
  • Apparel and services ($1,833): $36.66 at 2%
     
  • Gasoline and motor oil ($1,968): $39.36 at 2%
     
  • Other vehicle expenses ($2,842): $56.84 at 2%
     
  • Healthcare ($4,928): $98.56 at 2%
     
  • Entertainment ($3,203): $64.06 at 2%
     
  • Personal care products ($762): $45.72 at 6%
     
  • Education ($1,491): $29.82 at 2%

Total rewards: $923.75

While $900+ is a lot to earn in rewards within a year, you have the potential to earn a lot more. After all, these are just some of the expenses the average family faces and not all of them. If you could pay some additional big bills with credit each month like daycare or your rent, you could significantly add to your bottom line.

What to watch out for

While maximizing rewards cards is a smart idea if you’re using them already anyway, there are always pitfalls to be aware of when you’re using a credit card. Here’s what to watch out for during your quest for more cash back and travel rewards.

Fees for using credit

While there are many bills you can pay with credit without a fee, some vendors, merchants, and service providers charge a fee to use a credit card as payment. Fees are especially prevalent on bills such as utilities, cable or internet, rent, and insurance. Make sure to verify you aren’t being charged a fee to use credit before you proceed.

Annual fees

Don’t forget that some rewards cards charge annual fees. These fees may be worth it depending on your spending and rewards haul, but you should always factor them into the equation to make sure each fee is worth paying. If you’re against paying annual fees, look for rewards cards that don’t charge one.

Budgeting mishaps

Using a credit card for all your expenses may simplify your financial life, but it could also cause your budget to fall out of whack. Make sure you’re only spending on purchases you planned to make anyway, and that you’re tracking your spending and paying off your credit cards regularly.

Debt

Never use credit cards for purchases you can’t afford to repay if you’re pursuing rewards. The interest you’ll pay will always be much more than the rewards you earn. If you’re worried using credit will cause you to rack up debt you can’t afford to repay, you’re better off sticking to cash or debit instead.

Like this article? Pin it!

Want to maximise your credit card rewards? The key to getting the most out of your rewards cards is understanding how they work and looking for opportunities to earn more points on your everyday spending. We’ve got the ultimate tips and tricks to help you save money and earn more rewards! | #creditcards #rewardsprogram #creditcardrewards


Source: feeds.killeraces.com