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.
Many credit cards allow cash advances When you get a cash advance off your credit card, you either use your card to get cash from your bank teller or ATM machine, or you use one of the paper checks that came with your credit card. A cash advance can help you when you are short on cash and desperately need it, but it can also cost you much more than a regular charge on your credit card. There is usually an initial fee just for getting a cash advance and a higher interest rate on the cash amount borrowed. These fees add to your balance owed and can make your balance grow more each month than you anticipate. For these reasons, you should limit cash advances to emergency situations.
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.
Shopping Around for the Right Card
When shopping for a credit card, you probably will want to look at other factors besides costs- such as whether the credit limit is high enough to meet your needs, how widely the card is accepted, and what services and features are available under the plan. You may be interested, for example, in "affinity cards" -- all-purpose credit cards that are sponsored by professional organizations, college alumni associations, and some members of the travel industry. Frequently, an affinity card issuer donates a portion of the annual fees or transaction charges to the sponsoring organization, or allows you to qualify for free travel or other bonuses.
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.
I would like to re-build my credit. I filed for bankruptcy three years ago. How do I find a lender that will give me reasonable annual fee and interest rate?
Its true: after filing for bankruptcy, credit can be difficult to obtain. And what makes things worse is that your credit score will drop even lower each time a company disapproves your application. That means its doubly important that you apply for a card that youre likely to get rather than risk a turn-down. Youre definitely "at risk" at this time?…a target for unscrupulous lenders with big promises and shady deals. Many lenders will try to entice you with "super-low interest rates for those who filed for bankruptcy." It all sounds good until they come up with some questionable reason why you dont qualify and then try to convince you to sign up for a card with high rates and fees. Beware! Other companies may offer low teaser rates, but then hike the interest after a short period of time. And if you miss a payment -- look out! Some impose outrageous fees for late payments, sticking you with a $25 fine when youre late on a $5 payment. Heres a secret credit card companies dont want you to know: Late fees represent as much as one-third of the income of some credit-card issuers.
Pay by Phone
If you are in doubt whether your payment will arrive on time, you may call your credit card issuer and make a payment by phone. It may cost you anywhere from $5 to $30, but you will avoid paying a much more costly late fee. To make a payment by phone, all you need to provide is your bank?’s account and routing numbers, printed on the bottom of your check and a check number you wish to use. Remember, however, that you will not be able to use a check, whose number you had used for credit card payment.
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.
What is the difference between an additional card and co-signer card?
An additional card is a card you get on your personal credit account with another person?’s name on it. This means that the person now has access to your credit account as if it is their own account and can charge as much as they want without your permission beforehand. In addition, this person is not held accountable by your creditor for making any payment on the account. This responsibility falls on you, the account holder. As a result, no matter how much this person charges on your card, you have to pay for it?—even if the person promises to pay you back and doesn?’t. A cosigner card is a credit card someone applies for and gets a cosigner to sign on. Essentially, it is the applicant?’s credit account, but if they stop making payments, the cosigner is then responsible for the account. The history of the account goes on both person?’s credit reports. The cosigner will have to make special arrangements with the creditor before cosigning to get monthly statements on the account or reports of late payments. Otherwise, the cosigner will not have access to the account information. If you do cosign on an account, remember that you assume equal liability.
How will you know if someone has stolen your identity?
should you throw them all away immediately? Not necessarily. Should you gleefully accept all those great offers and the individual perks and free gifts that come along with the cards? No. Instead, you should carefully consider each card and what it offers you long term. This way the card (or cards) you do sign on with will work for you, rather than become a burden to you financially.
May I obtain a U.S. issued credit card if I have an excellent credit history in another country?
Yes, you might be able to use your past excellent credit history to obtain a U.S. issued credit card. However, it will take some time and effort on your part. Many people come to the U.S. with a positive credit history. Normally, this credit history is not transferred to the U.S. As a result, when you apply for a credit card the creditor will not see your excellent credit history. They will then deny you credit based on the fact you supposedly have no credit history established. Getting a social security number is the first step you should take. You must have a social security number to get a U.S. issued credit card. Next, contact Experian, Equifax and TransUnion (the three major credit reporting bureaus) to see if they will transfer your excellent credit history from your home country. This usually does not happen, but in some cases it can. For example, TransUnion does transfer Canadian credit histories to the U.S. If you can get your credit history transferred, this will make it much easier for you to get a U.S. issued card. If you find that you cannot get your credit history transferred, you will have to start from scratch and build a new credit history in the U.S. You can look into applying for secured credit cards, bank-issued credit cards and other credit cards that can get you started. These cards may charge fees or high-interest rates, so be sure you understand all the terms before applying. Whenever possible, try to apply by phone. This way you can explain your situation in person and possibly get approved or denied on the phone. If denied, you can apply in writing and state in your letter application that you have an excellent credit history in another country. If possible, include a copy of your credit report with the application. The creditor may then be able to approve you after some investigation. If there has been no response in 30 days, contact the creditor to check on your application.
