Article by Pamela Williams
Ever since the introduction of the Internet and online marketing, globalization has become more than just a dream. Truly, advancements in technology and communication have revolutionized the business industry. In response to this great change, banks and financial institutions have also sought innovation and improvement in the products and services they offer.
Just take a look at the wide variety of credit cards in the market today. In the past, credit cards were available only for individuals and with very limited features. Today, both large corporations and small business owners can get credit cards that are especially designed to meet the demands and needs of their businesses.
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Article by SAPerillo
When we buy things at a major retailer, were often offered a free ten percent discount. However, to take advantage of the promo, you first have to sign up for a store credit card. Usually, this is free. A lot of people fall for this kind of marketing, but did you know that signing up for store cards lowers your credit score significantly? It could even affect your chances of getting a mortgage with low interest rates.Retail store credit cards are also known as limited purpose cards. They can only be used at specific locations. What they dont tell you is that by applying for a stores credit card you may be lowering your credit score, because of credit inquiries. Inquiries are posted in your file whenever you apply for a new credit card from a different company. This may cost you points on your credit score, especially if youve applied for several limited purpose cards. This could cause you to move down risk levels, potentially damaging other transactions like mortgage loans.This is a tricky situation to be in, because theres no real way to get your credit card score up instantly. Youll have to earn your scores again, and wait for time to pass before you can actually get your score up. Sure, you have the option to remove the inquiries, but this is only legal if you were scammed. Fraud is the only instance when the inquiry could be removed. When you apply for limited purpose cards, they are legal even if you did them in a hurry.All you can do is play the waiting game. Since you have slim chances of getting those inquiries removed, it would be better if you waited them out instead. It usually takes about twelve months for the inquiries to clear up, so you can do some credit score handling in the meantime. Be very strict about paying your monthly installments so your credit score does not go lower. In about twelve months, your finances should be back in shape.Keep in mind, however, that youll have a small problem getting a mortgage with low interests. As your credit score goes down, your chances of going down a risk level increases as well. Should you decide to get a mortgage during this period, youll be paying more than you should, considering that you had a pretty good credit score to begin with. If this is the case, you have two options. First, you can continue with the mortgage. Youll be given a higher interest, but when your credit score recovers a little (when it goes up 700), youll be able to refinance your mortgage for a lower interest rate. If you really need a house right now, this is the best option. Your second option is to simply wait until your credit score is higher to avoid paying unnecessarily because of the high interest rate. At this point, you have no other option if you want to save up on money. This is also the option if youre not really in a hurry to buy a home.
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Article by Stephanie Neruda
American Express has some of the best rewards programs out there, from Membership Awards to Starwoods Points, to simple cash back.To demonstrate why, let’s analyze two transactions at Joe’s Coffee Shop, one using your American Express card, and one using your MasterCard/Visa from one of the big issuers (Bank of America, Chase, Citibank, Capital One, Wachovia).
Scenario 1: You pay using AmexJoe’s pays a ~2.4% transaction fee to Amex, on average, to process the transaction. American Express owns the network, the card company, and the sales network to sign up new shops, so they keep the entire transaction fee.Scenario 2: You pay using your local bank’s MasterCard/VisaJoe’s pays a ~1.4% fee, on average, to process the transactionThis fee is split 3 ways between: (i) the sales organization who signs Joe’s Coffee to use the MasterCard/Visa network, (ii) the MasterCard/Visa Network, and (iii) the bank who issued you the credit card.Not only does American Express charge a higher transaction fee, they also keep the entire fee instead of splitting it 3 ways.The virtuous cycle goes like this – (i) American Express has the most prestigious cardholders so they can charge merchants more, (ii) American Express charges merchants more so they can offer better rewards, (iii) American Express offers better rewards so they can attract premier cardholders. We believe this is precisely the reason why Warren Buffet owns 12% of the company. And this is also why when you pick up an American Express card, you get to enjoy extra rewards at the expense of Joe’s Coffees everywhere.We ran some numbers and found that the following no fee American Express cards rank well, based on our calculation of annualized rewards and promotions, minus any annualized fees:The Amex Blue Cash pays 5% back on your grocery and gas purchases and 1.5% on everything else after you spend ,500 in a year. For above average spenders, this can easily exceed an overall 2% reward rate.The Amex Costco True Earnings Card pays 3% back on restaurants and gas, 2% on travel, and 1% on everything else.The Amex Blue Sky is effectively a 1.33% cash back card. You get 1 point for every you spend, and you can offset travel expenses on your credit card statement at a rate of 7,500 points per 0. This is one of the highest base rewards rates available that we know of.Smart spending, and best of luck
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Article by Debbie Dragon
There are a variety of credit card companies that are trying to help you save money on gasoline. As gas prices are either holding steady at their already-too-high rate or increasing all the time; any option for saving money on gas is helpful!
Gas cards may offer cash back when you make a gas purchase (and sometimes other purchases as well). This means you get a rebate every time you fill up your car- which can help offset the pain you feel when you pay for your gas! If the card offers a 10% gas rebate, it’s the same as getting a 10% discount when you fill up your car.
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Question by : Is it possible to use the Amazon Rewards Credit Card for 1 purchase and close it right away?
I have seen Amazon gives $ 40 back on a purchase if you accept to open the Amazon Rewards Credit Card, but then, they have a full list of fees you have to pay so, according to what I read, having the card is just another stupid way of losing money… Do you know if I can open the card, do 1 purchase, get the 40 dollars back and then just cancel the card?
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Article by Winston Boyd
The moment you have collected the minimum quantity of points, you can redeem them for many advantages presented by the card firm.&bull Appear into your travel- you can use the exact same airlines for travelling and stay in the identical line of hotels when feasible. This will aid you get the factors more rapidly.&bull Employs of your journey card- this is one particular factor that is overlooked by several men and women. They usually do not decide on a travel card which can be utilized for all the desires. Also make confident that you travel advance prepare can be utilised in as many international locations as achievable. This will enable you to accumulate factors in the identical prepare and redeem them soon.&bull Reward program- distinct cards will offer various kinds of rewards like reductions, free of charge stays in accommodations and this sort of other benefits. It would also be smart of you to see the reward system ahead of you choose for the plastic funds. There are also a few cards which supply vouchers of certain firms which can be utilised to acquire factors.&bull Charge- most of the improvements charge a charge volume which in some cases might be high. This is collected on an yearly foundation. So make certain that the price they are charging you is worth.If you retain the over points in thoughts, you will be able to select the greatest travel rewards credit score card for by yourself.Frequent flyers are usually looking for for the very best miles for every flight they ebook via their credit score cards. This is where rewards credit cards arrive into perform and they arrive in various options in giving rewards. So, if you’re seeking for flyer cards that give the most rewards you can do this by likely online and start comparing the different credit score cards accessible. You can get the best from various sources like financial institutions and other companies like MasterCard, Visa and AMEX popularly identified as American Express. You can also locate cashback which you can avail of to get back the cash you charge in using your “plastic”. All you have to do is get online and evaluate credit score cards.Whenever you need to assess “plastics”, the 1st factor you need to seem into are the curiosity premiums such as the specific offers that go collectively. You may notice that you’re having to pay larger fascination prices when you get your regular flyer card but it is all value it if you are utilizing your “plastic” in booking your flights and as extended as you fly regularly.Taking a seem on cashback cards that provide rewards is also value it if you are making use of your “plastics” for each day paying as an alternative of frequent flyer “plastics”. Make sure you find cashbacks that supply rewards wherein you get back again the funds you put in for each buy you’ve created. Even though airline cards provide you miles to cash in for a totally free flights. This can make perception for these who typically use their “plastics” in booking their flights while obtaining techniques on how to acquire regular flyer miles.Anytime you evaluate on the web to get the finest rewards cards you may possibly also contemplate obtaining a debit card option.
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