Credit Card Quick

What you Need to Know about Business Credit Cards

Choosing Credit Card

Business credit cards may seem like the logical choice if you are a business owner. They may be used by businesses that range from one to one thousand employees and everywhere in between. And most business owners naturally assume that they need a business credit card for their business.

This article will explore the many aspects of business credit cards, so you can make the best decisions, both for yourself and your business:

• Your ability to obtain a business credit card will depend as much on your personal credit history as your business credit history. In other words, expect your qualifications and interest rate to be determined by both business and personal credit history. Keep in mind, also, that creditors will look at many different aspects of your business to determine your eligibility, so make sure your license and insurance are up to date.
• Although many individuals assume that they will not be personally liable for their business credit cards, the exact opposite may be true. Look for the terms “commercial liability” and/or “joint and several liability” language in your credit card agreement, as this will detail your personal responsibility regarding your business credit card debt. It is vital to know your rights before applying for a business credit card, as if your business fails, the creditor may go after you personally, as well.
• If you are grappling between using a personal credit and a business credit card for your business, consider that a business credit card may offer you a significantly higher credit limit. A higher credit limit, of course, will afford you the opportunity to better run your business. Some business cards, as a matter of fact, come with no spending limits, although they will tend to carry higher annual fees.
• You can issue cards to your employees with a business credit. Most business credit cards allow you to issue multiple credit cards for one account, and many of them feature customizable features that allow you to grant certain privileges to some employees over others. Plus, you can better track your employees’ spending with a business credit card.
• Payment terms can be varied according to your business needs. Because cash flow can vary for small businesses depending on the time of the year, your ability to pay may also vary. Because of this, many creditors offer payment deferment for customers, thereby allowing business owners to better manage their budget and cash flow.

The Credit Card Conversation you must have before saying ‘I Do’

Introduction

We often get so wrapped up in wedding plans that we fail to recognize the financial planning that goes into making a marriage work. So, before you meet your future spouse at the end of the aisle to say, “I do,” take the time to sit down and discuss your finances.

There are a set of questions the engaged couple should be asking one another. After all, there is nothing worse than finding out your soon-to-be-spouse is burdened by debt, bad credit, or even a bankruptcy. It’s better to get all financial issues out on the table so that there won’t be any surprises once the excitement from the wedding day has faded and reality has set in:

Q: What is your income?

Although this is, of course, a very personal question, the fact of the matter is that you both must know this information if you are going to rent or purchase a home.

Q: What is your credit score?

Again, this is a personal question, but a very important one to ask your future spouse. If your fiancé is unaware of his or her credit score, now is a great time for both of you to order a copy of your credit report from all three, credit reporting bureaus. Ordering your credit reports is also beneficial at this time because you and your fiancé can remedy any mistakes or inconsistencies long before you decide to purchase your first home or make any other type of large purchase.

Q: How much debt do you have?

In order to get an accurate picture of your future financial situation as a couple, you will need to add up your combined debt. This may include credit cards, student loans, car loans and personal loans, just to name a few.

Q: How many credit cards do you have, and do you carry balances on these cards from month to month?

It may prove to be quite advantageous to both you and your future spouse if you work together to pay off credit card debt before you are married. This will put you in a much better financial situation once you are married and looking to purchase a home, for example.

Getting Serious about Credit Card Debt

Introduction

Many of us lament about our credit card debt, yet not many of us do what we need to do to reduce it or eliminate it.

In fact, unlike what you may read, reducing your credit card debt may be more difficult than simply forgoing those morning lattes from your neighborhood barista. Many individuals, instead, need to make serious sacrifices in order to reduce or eliminate the credit card debt that is strangling them and preventing them from leading a comfortable, debt-free lifestyle.

If you’re ready to make the changes necessary, you will need to roll up your sleeves and be prepared to make major changes in your lifestyle. If you’re game, read on:

• Distinguish between essential expenses and non-essential expenses. Your satellite television bill? Non-essential. Your mortgage and car note? Essential. You get the idea. Don’t just think about your essentials and non-essentials: make a list and begin to get a good idea of where all those little “extras” in life are putting you financially. You may be quite shocked to see that a large portion of your income is going towards “wants” and not “needs.”
• Sell things. Don’t think too hard about this; just sell. Sell on online auctions, at a yard sale or through a consignment shop. There are no doubt things in and around your home that, at one time, you thought you really needed, but ended up being ignored and placed in the corner. Your projection television that sits alone in the basement for the majority of the year because your family gathers in the family room instead of the game room? Yep, it can go. That treadmill that you absolutely had to have, but now is used as a glorified clothes hanger in your bedroom? Yes, that goes, too.
• Work more. I know this may sound rather implausible, but if you want to pay off debts, you will consider working a second job or doing something from home. Luckily, there are plenty of work-at-home, part-time jobs available now, thanks to the Internet, so if family obligations prevent you from working more outside the home, consider looking into one of the many work-at-home websites. Consider your strengths and talents when applying for a work-at-home job, as this will likely result in a larger paycheck for you.

The Top Credit Cards to Have in your Pocket this Holiday Season

Choosing Credit Card

Most of us will take advantage of credit cards this holiday season, and for good reason. Credit cards offer everything from rewards programs to buyer protection programs, and are a great way to track your spending and stay on budget.

Plus, there are a number of great credit cards out there that may just make your holidays a bit merrier! Here are our favorites:

• Chase Freedom Visa – Chase’s Freedom Visa, through December 31^st, is offering five percent cash back, up to $1,500, at department stores, grocery stores and movie theaters. Add this to the already one percent you will already earn on all your other purchases, and you’ve got one heck of a good deal! We particularly like the Chase Freedom card because it is now easier than ever to redeem your rewards for gifts.  If that weren’t enough, the Chase Freedom card is also offering a $100 sign-up bonus if you spend at least $799 during the first six months.
• Amazon.com Rewards Chase Visa – If you love Amazon.com (who doesn’t?), you’ll love the Amazon.com Rewards card. You can earn and redeem Amazon rewards points at one cent for every dollar.  In addition, members can earn three points per $1 spent on Amazon.com and two points per $1 spend on everything from gas to groceries. This card features no annual fee, no caps on the points you can earn, and your points will never expire!
• Discover More Card – We love the $100 cash back bonus on the Discover More card, as well as the “double cash back bonus” of two percent on purchases made between November 15 and December 31, all online purchases for the first $1,000 and one percent thereafter. We also like the five-percent cash back bonuses in different categories throughout the year, allowing you to save on everything from restaurants, department stores and gas stations. Combine that with an extra savings of five to 20 percent through Discover’s online shopping portal, Shop Discover and you have a great card for holiday purchases!

Credit Cards may soon get a Face Lift

News

Credit cards, for the better part, have looked the same way since they made their introduction decades ago. However, those 1.8 billion credit card debit cards sitting in consumers’ wallets across the country may soon become decidedly more digital.

The New York Times recently reported that the credit card industry may soon change its way from the magnetic strips to imbedded chops and batteries, among other things. If you think about it, this change may be long overdue. In fact, it may be time to allow consumers to become better protected against credit card fraud and to better take advantage of the many benefits of today’s credit cards.

Digitally Enhanced Cards Emerge

Starting soon, it appears that Citibank will take the lead with the newer, digitally enhanced credit cards. They will begin testing a credit card that will allow consumers to decide whether they want to pay for their purchase with their rewards points or their credit card, and will do so by simply pressing buttons on the card that will change the data received by the card’s magnetic strip.

Other creditors are following Citibank’s lead, and are designing and testing cards that can act as both a debit card and a credit card. Yet other creditors will be offering credit cards that reduce fraud associated with credit card “skimming.”

Some credit cards will also be able to hold separate accounts on one credit card. For example, you may be able to choose between a personal purchase on your personal account and a business purchase on your business account simply by selecting the appropriate buttons on the credit card.

Many of the technologies being introduced will be widely used by mid-2011. For many countries, this technology has already been introduced. In Europe, for example, consumers use a chip and PIN instead of a magnetic strip. Why the United States is hesitant to move from magnetic strips is not quite clear.

In addition, Visa, MasterCard and Apply are developing new technologies that will allow consumers to use their cell phones to pay for credit card purchases.

Why we Love Online Shopping

Introduction

Online shopping is just about the best thing to come along since the advent of the Internet. After all, shopping in our pajamas, at any time of the day or night, is pretty hard to beat.

And there’s no other time of the year to become an online shopper than during the holidays. Online shopping is practical, convenient, and just, well, enjoyable, and here’s why:

• Most of us lead busy lives that are taken over by work, household chores and children. So, what better way to get your holiday shopping done than on your own time, even if that time is the middle of the night? The Internet, unlike brick and mortar stores, is never closed, thereby allowing you to get all your holiday shopping done any old time you want.
• One of the top reasons consumers give for shopping online is they can avoid the holiday crowds. No bumping elbows with hundreds of other shoppers, no searching for a parking space, and no standing in line for what seems like hours just to purchase one item.  And it’s a whole lot easier to find just what you’re looking for by surfing the Web instead of schlepping it from store to store.
• Many consumers find the best deals on the Internet. In addition, it’s much easier to compare prices between retailers when shopping online. The result? Your holiday budget may go a bit farther if you shop online. And don’t forget to take advantage of all those free shipping and coupon offers many online retailers offer during the holiday season.
• If you have friends and family who live across the country, there’s no better way to send them their holiday gifts than through an online retailer. Plus, shipping their gifts directly to them is usually a great way to save a fortune on shipping costs. Don’t forget that most online retailers also offer gift wrapping services, too!
• Online shopping is a great way to avoid compulsive shopping. Stores make it their business to lure you into purchasing things you may not need, but online shopping allows you to concentrate on purchasing only what you set out to purchase, and nothing more, thereby saving you big when it comes to your holiday budget.

Do You Have Your Credit Cards Under Control?

Credit Card Debt

Most credit card customers assume they have a good grasp on their credit card spending and budgeting, but in reality very few of us do. You have likely heard of many people saddled in thousands and thousands of dollars of credit card debt say that they don’t know how it happened. Unfortunately, this is an all-too-common occurrence. To prevent yourself from heading down the same path to credit card despair, consider asking yourself the following questions:

• Do I purchase things on impulse? Is your credit card a green light for your spending? Many individuals will purchase things with their credit cards that they normally would have never used their cash to purchase. In other words, a credit card is often very tempting when it comes to spending, so it is wise to reflect upon your recent purchases to determine if you have a habit of purchasing items on impulse with your credit card.
• Do you have a budget? If you have no idea what is going in or going out in terms of finances then you could be setting yourself up for disaster when it comes to your budget and your credit cards. Make a point of determining your monthly income and your monthly expenses. This will give you a clear picture of how much exactly you can afford to spend each month on your credit cards. In other words, determine your disposable income and don’t spend any more than that – even if you have a credit card in your wallet.
• Do you study your credit card statements? If you are opening your credit cards and paying only the minimum balance then you could be in denial about your credit card spending and your credit card balances. Take the time to open your credit card statement each month and examine your spending habits from the previous month. More often than not, simply being aware of your spending habits may thwart you from overspending.

The Golden Rules of Financial Success

Introduction

Do you know the road to financial success? Many Americans assume it must be difficult to achieve financial success, but the reality is that, simply by following a few, golden rules, you can achieve what so many Americans strive for.

Simply put, knowledge is power when it comes to financial success. You don’t need to be a millionaire to achieve it, and you don’t need an advanced degree in finance or business. Instead, you simply need knowledge and perseverance.

Here are our golden rules for financial success:

• Save 10 percent of your income. If you do nothing else on this list, this is the rule that everyone should follow. Saving 10 percent of your income will protect you from financial catastrophe if you lose your job or encounter unexpected expenses. Your savings will protect you from credit card debt, and will allow you to enjoy the comfort and peace of mind that go along with having a safety cushion nestled in the bank.
• Don’t invest your money blindly; instead, make a point of educating yourself regarding your financial options so that your hard-earned money is making money for you. Once again, you don’t need an advanced degree in finance to learn about investing; you simply need to educate yourself on the basics of investment options.
• Treat credit cards as financial tools, not as crutches. If we all lived by the motto: Don’t spend more than you earn, most of us wouldn’t be in credit card debt. If, however, we use credit cards and enjoy their practicality and convenience, but pay them off when the bill arrives, we don’t become burdened by them. In short, think before you buy and, if possible, never make a purchase without developing a plan of action to pay it off.
• Take your financial responsibilities seriously and commit to always paying your bills on time and in full, without exception. If you want to enjoy the many benefits that come along with having an excellent credit score, then it is vital that you pay all of your bills on time each and every month, and that includes everything from utilities and credit cards to student loans and car loans.

How to Protect yourself from Credit Card Thieves this Holiday Season

Identity Theft

‘Tis the season…to have credit card thieves steal you blind.

Sure, that sounds a bit pessimistic, but the reality is that credit card thieves are banking on the fact that you’ll let your guard down long enough for them to swoop in and steal your credit card numbers during the holiday season. Here’s how to stop them:

• Check out website security – Online shopping is certainly convenient and practical, but entering your credit card information over the World Wide Web can leave you financially vulnerable. If you want to take advantage of the great online holiday deals, remember to check your computer’s security, as well as the website’s security. Make sure your browser is secure by checking for the locked padlock sign near the address bar and by looking for the address to start with “https” instead of “http.” In addition, don’t shop from a website if you are not familiar with them; or, if you aren’t familiar with a website, take the time to read online reviews from other customers.
• Keep extra credit cards at home and take only what you need – When you’re in the midst of the holiday hustle and bustle, you may be vulnerable to pick pockets or purse snatchers. In order to decrease your chances of becoming a victim, carry only what you need. Remove most of the cash from your purse or wallet and carry only those credit cards that you plan on using during that shopping trip. The less you have in your purse or wallet, the less you will lose if you fall victim to a thief.
• Shop with one credit card – Complete your holiday shopping with just one credit card with a competitive, fixed interest rate. If you use just one card, you can better track your spending and charges, thereby allowing you to eliminate confusion between cards or billing mistakes from escaping your attention.
• Check credit card activity online and look for errors – Take advantage of your credit card’s website to check the activity of a card on a weekly (or even daily) basis during the holiday season. If you spot errors, you can deal with them immediately, instead of waiting to receive your monthly statement.

Easy Steps for Transferring your Credit Card Balances

Credit Card Debt

If you’re overwhelmed by too many credit cards and sick and tired of paying high interest rates on some of those cards, it may be time to considering transferring those higher-rate credit card balances to just one card with a competitive, fixed rate. And luckily it’s pretty easy to do. Here’s how:

• Check out the offers you receive in the mail to see which one is best for you. Take into consideration the introductory interest rate, the interest rate once the introductory period has ended and the length of the introductory period. Don’t assume all balance transfer offers are the same. They differ quite a bit from card to card, so take the time to compare offers.
• Don’t just read what the creditor wants you to read. Instead, read the fine print. The credit card’s terms and conditions should be read and understood before you accept a credit card offer, so take the time to read and reread the fine print before taking the next balance transfer offer that comes your way.
• Don’t always assume the lower introductory rate is the best value. Instead, take all factors into consideration, including the length of the introductory rate, the rate once the intro rate has ended and the balance transfer fee. You may need to pull out the calculator to determine how much money you will save, what you will pay in balance transfer fees based on the amount transferred, and any other related fees.
• Once you have decided upon the credit card to complete your balance transfer, save yourself time by applying online. Don’t forget to gather your other credit card accounts that you want to transfer so you can be prepared to transfer the balances once you have been approved. Make sure you have all of the information necessary to handle these transfers, including the account numbers and your current balances.
• Some credit card balance transfers can take a couple weeks to happen, so if you have a credit card payment due soon, don’t neglect it, as you could risk late payment fees if your balance transfer doesn’t happen before the due date.