When strategically used, a credit card that offers cash-back rewards can minimize expenses associated with owning and using a credit card. In the best-case scenario a card that offers cash-back rewards will actually pay you for using it.
With today’s high gas prices, gas reward credit cards are a great way to save money at the pump. Many credit cards will return a base 1% on your spending, but there are some that will give anywhere from 2% to 5% cash back on your gas purchases. Outlined below are some of the better ones, and afterwards a discussion will follow on which one might be the best card for you.
Are you a college student looking for your first credit card? Among the major credit card issuers in the U.S., only Capital One, Citi, and Discover offer student credit cards. Which company offers the most for students: the Capital One Journey Student Rewards, the Citi Forward, or the Discover It for Students? The contenders are summarized in the table below.
Are you looking for a credit card for your new small business? After researching a variety of cards on the market, Chase’s Ink line of credit cards comes out on top.
The major credit card issuers - Chase, American Express, Citi, Capital One, and Discover - all have business credit cards, but when compared to Chase’s Ink line, they all fall short in some way. The Ink line are all Visas, which means they have the largest acceptance rate. We can then immediately write off the American Express and Discover credit cards because their acceptance rates by vendors are much lower than that of Visa’s.
Citi has a couple of business cards, but one is tied to American Airlines and the other has rotating categories of higher return rates. The points earned from the Ink cards can be redeemed towards flights for a wider variety of airlines, and the higher earning categories stay steady throughout the year.
Never a borrower nor lender be. This maxim from Shakespeare’s Hamlet might have been good advice in the past, but following it today could leave you unable to climb the economic ladder to financial security and/or watching your hard-earned assets eroded by inflation. The key is to borrow and lend intelligently. Lending as an Investment
If you are in the market for a credit card, don't be too quick to dismiss those that charge an annual fee. There are some fee-based cards that offer greater savings than their no annual fee counterparts, even once the annual fee is accounted for. The following is a comparison of three pairs of credit cards - those with annual fees and their no annual fee counterparts - that serve as great test beds to demonstrate this, and if you choose wisely you could get some big savings. This scenario works only if you stick to the golden rule: pay off your card in full every month!
Comparison of Grocery, Gas and Department Store Reward Cards
The first pair of credit cards are aimed towards everyday purchases: groceries, gas, and department stores. These are the American Express Blue Cash Everyday, and the Blue Cash Preferred.
If you need a bigger loan than your credit card balances will allow, a personal loan is one way to get the money you need at relatively cheap rates. Study the market and read the fine print to make sure you are getting the lowest interest rate and the best loan terms available.
Here is a rundown of sources for low interest personal loans:
Peer to peer loans
Before you sit down with the loan officer at your bank, check peer to peer lending sources online. Banks set their rates based on many factors, one of which is the risk you pose as a borrower. Peer to peer lending spreads that risk out among a large group of lenders allowing them to charge a much lower interest rate.
Airline reward cards fall into one of two categories.
Branded airline card - offers the perks of working with one airline
General travel card - allows you to collect travel reward points on all spending
Always, read the fine print. Sometimes points aren't valid if you book through a discount broker - make sure you check. If you need to travel at a certain time of year, look fort blackout dates that prevent you from using rewards mileage to travel during that time.
Here are ConsumerFu's top picks for general travel cards. We also give a full rundown of branded cards in the table below.
This is for existing credit card debt only. For NEW borrowing see 0% Credit Cards
Transferring existing credit card or store card debt to a ‘new card’ with low or 0% interest can save you hundreds or even thousands of dollars. By transferring your balance you can repay the higher interest debt at a cheaper rate.
If you are looking for a way to reduce monthly interest payments on your credit cards, the credit card shuffle is for you.
Who benefits from the credit card shuffle?
Anyone who has debt on high interest credit cards can benefit from the credit card shuffle. People with excellent credit can benefit from the credit card shuffle if they have credit instruments with high interest charges. This isn't just for those who are over extended or have a low credit score. If you recognize yourself in any of these descriptions, it is time to shuffle.