True Earnings® Card from Costco and American Express
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Earn cash back on gas and a $25 statement credit with your first purchase made with the Card.
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Earn cash back virtually everywhere you go - 3% for annual gasoline purchases of up to $3,000 (1% thereafter), 3% for restaurants, 2% for travel, 1% everywhere else, including Costco.
Earn 10,000 Membership Rewards® bonus points when you spend $500 in 3 months - redeemable for a $100 gift card!
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The Membership Rewards® program - Earn 1 Membership Rewards® point for virtually every dollar you spend and redeem for your choice of travel, shopping, and entertainment rewards.
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Gold Card Events - exclusive access to tickets for select concerts, shows, major sporting events, and more in cities nationwide.
Starwood Preferred Guest® Credit Card from American Express
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Earn up to 25,000 Starpoints® - enough for up to 6 free nights at a category 1 or 2 hotel.
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Use Starpoints® for free nights and upgrades at participating Starwood hotels and resorts in 95 countries including Sheraton, W Hotels, Westin and more with no blackout dates.
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No annual fee for the first year and $45 thereafter.
Platinum Delta SkyMiles® Credit Card from American Express
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Earn 20,000 bonus SkyMiles® (including 5,000 Medallion Qualification Miles) after first purchase and another 2,500 for adding an Additional Cardmember.
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Earn one companion Coach Class ticket each year upon renewal.
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Earn at least 1 mile for every eligible dollar spent.
I wanted to get a credit card but I do not have any credit history. Are there other ways to build a credit history?
To someone seeking credit for the first time, it may seem like a vicious circle: You cant get credit without a credit history, and you cant establish a credit history without credit! Frustrating, isnt it? Interestingly, some institutions only look only at your salary, job and the other financial information that you put on the application to determine if you qualify for their card. However most will be interested in your track record -- How have you handled other debts -- and will ask to see your credit report.
To get the story on you, institutions will turn to information provided by credit-reporting agencies or credit bureaus like Equifax that collect, store and quantify information about borrowers. The records show your credit history -- how much credit youve received and how faithfully youve repaid. Fortunately, even if youve never had a Mastercard, American Express, Visa, Discover, or other major credit card, you can still build a good credit history:
?• Open a checking account or savings account or both. Although not part of your credit history, your accounts may be checked by potential lenders as evidence that you have money and know how to manage it.
?• Cancelled checks can be used to show that you pay utilities or rent bills regularly, a sign of reliability.
?• Apply for a department store credit card. Stores dont ask for credit histories as often as major credit card institutions, so you should be able to get a card based on your annual salary. Then, repaying your store bills on time becomes a major ""positive"" in your credit history.
?• Look for a financial institution that will allow you to deposit funds to serve as collateral for a credit card. Some institutions issue a credit card with a credit limit equal to the amount on deposit. These cards are relatively easy to obtain and as with your department store card, paying these bills on time will enhance your credit history.
?• If you dont have a credit history because you?’re new in town, request a summary of any credit record kept by a credit bureau in your former town. Dont know whom to contact? Ask the bank or department store in your former town for the name of the agency it reports to.
You may already have a great credit history and not realize it. If you do, its time to ""comparison shop"" the credit card companies and find out who has the best deal to offer you.
Correcting Billing Errors
Federal law provides specific rules that the card issuer must follow for promptly correcting billing errors. The card issuer will give you a statement describing these rules when you open the credit card account and, after that, at least once a year. In fact, many card issuers print a summary of your rights on each bill they send you.
Don't be Late, Pay the Minimum
Late fees, these days, may take a toll on your financial health. It would be especially unfortunate to pay a late fee if your total credit card bill is less than the amount of late fee. To avoid this situation, consider paying a minimum due on your bill if you do not have enough cash on hand to pay off the whole bill on time.
Using You Credit Card Card Abroad
taking your credit cards with you on your next overseas trip can make traveling easier. You dont have to carry as much cash or get foreign currency you may not use, and you have a record of all your purchases. Most major credit cards are accepted worldwide, and in many countries credit cards are widely accepted. If your credit cards are lost or stolen and used by a thief, you generally cannot be held responsible for more than $50 in fraudulent charges. That makes carrying credit cards safer than carrying a lot of cash. Some credit card companies will replace your cards (sometimes overnight) if they are lost or stolen while youre traveling another plus.
Don?’t be Late, Pay the Minimum
Late fees, these days, may take a toll on your financial health. It would be especially unfortunate to pay a late fee if your total credit card bill is less than the amount of late fee. To avoid this situation, consider paying a minimum due on your bill if you do not have enough cash on hand to pay off the whole bill on time.
Cash Advance
the world of credit can be a maze for the college student. This is why you should always exercise caution when applying for credit cards and using the cards you have. By making careful choices and responsible decisions, you can avoid financial disaster and get the most out your credit. If you educate yourself on credit and understand the terms of all cards you apply for, you can begin to create an excellent credit history for yourself. And with a positive credit history, the sky is the limit!
What is "Grace Period"?
A free period -- also called a "grace period" -- allows you to avoid the finance charge by paying your current balance in full before the "due date" shown on your statement. Knowing whether a credit card plan gives you a free period is especially important if you plan to pay your account in full each month. If there is no free period, the card issuer will impose a finance charge from the date you use your credit card or from the date each credit card transaction is posted to your account. If your credit card plan allows a free period, the card issuer must mail your bill at least 14 days before your payment is due. This is to ensure that you have enough time to make your payment by the due date.
College and Student Credit Cards
College students receive the least stringent credit card offers of any other group. This group of consumers is the only group that can get a credit card (in many cases instantly) without even having a job. This can work in your favor, if you make wise decisions. Not only can you get a great credit card and a free gift, you can also build an excellent credit history. But it all depends on you. If you do decide to get a card, take your time in choosing. Don?’t just choose any card that comes your way. Before you choose any credit card offer, make sure you understand what a credit report is, how it will affect you, how a credit limit works, what an APR of a card is, what annual fees apply to the card you are considering, and how cash advances work. Knowing all this before you get a credit card will give you a more secure financial future. Listed below are the most important terms you need to know before you apply for a credit card.
When should credit card payments be credited?
A card issuer must credit your account on the day the issuer receives your payment, unless the payment is not made according to the creditors requirements or the delay in crediting to your account does not result in a charge. To avoid delays that could result in finance charges, follow the card issuers instructions about where to send payments. Payments sent to other locations could delay getting credit for your payment for up to five days. If you lose your payment envelope, look on the billing statement for the address for payments or call the card issuer.
When should you turn a credit card offer down, and when should you accept?
For the new college student, it can be relatively easy to get a card. It will seem people are everywhere with offers. You will get offers in your mail box, and see VISA, MasterCard and Discover card tables at many school events. The solicitors at these tables will not only ask you to fill out quick and easy credit card applications, but they will also offer you free gifts and incentives just for doing so. The gifts are often yours to keep, even if you choose not to accept their credit card.
