provided by Published 9:00 am CDT, Wednesday, October 17, 2018 MoneyTips What's the benefit of having a credit card? That's easy – it allows you to buy things with money you don't currently have. (Of course, that may also be the biggest drawback of having a credit card, if you can't control your spending.) All credit cards allow basic purchases, but what specific benefits draw you to choose one credit card over another? A recent survey and report by Market Strategies International digs into the specific features that users prefer. Their #1 choice? No annual fee. Given that 80% of card users aren't clear about the benefits of their existing primary credit card, card issuers are better served by focusing on the top perceived benefits. The report suggests that card issuers must focus on the "must haves" and not depend on narrower benefits (listed in the survey as "tailored extras"). Eighteen different credit card benefits were ranked and categorized into tailored … [Read more...] about Top Benefits Of Credit Cards
Consumer reports cash back credit cards
Susan Tompor Detroit Free Press Published 11:30 p.m. UTC Jul 19, 2018 Back in 2009, college students seemed to have a love affair going on with their credit cards. About 84 percent of college undergraduates had at least one credit card, according to a study then from Sallie Mae. Seniors were graduating with an average credit card debt of more than $4,100 in 2009, up from about $2,900 in 2004. By 2016, only 56 percent of college students were carrying credit cards, according to another Sallie Mae report called "Majoring in Money." Credit was tougher to get after the financial fallout and more restrictions were put in place in 2010 when it came to issuing credit cards to consumers younger than 21. Lately, college students are seeing offers pop up in the mail from cards, like Discover it Student Cash Back, or credit card offerings from their own banks or credit unions. Credit is out there, possibly with a parent as a cosigner. "Banks are sending card offers … [Read more...] about 5 tips if you’re packing a credit card for college
provided by Published 3:00 pm CDT, Monday, July 9, 2018 MoneyTips Prefer using debit cards over credit cards, but miss earning rewards? Some debit cards offer cash-back rewards – either as a straight points-based redemption program or as a perks-based program directed at purchases with specific merchants. You may have debit card cash-back benefits through a perks-based program and not even realize it. Cardlytics is one of the largest of the perks-based programs, having paid over $200 million in cash-back rewards to debit card holders. They have relationships with over 2,000 financial institutions across America, including large banks such as Bank of America, PNC, SunTrust, and Regions. Essentially, Cardlytics offers cash-back rewards programs through the banks' online user interfaces in exchange for information on your spending habits. Their approach of targeted cash-back rewards allows you to easily redeem offers at merchants you already use. When you shop at … [Read more...] about Get Cash Back On Your Debit Cards!
Payment app Plastiq enables users to pay for nearly anything – including bills – with a credit card, but charges a 2.5% fee. Plastiq may be worth it if you’re trying to accumulate points or meet a minimum spend on a new credit card, but if you’re not careful, the fees could outweigh the rewards. Plastiq has an A+ rating from the Better Business Bureau and it’s simple to use. Move over Venmo and Apple Pay – there’s a new payment app in town and it’s called Plastiq. “Plastiq is bill pay with benefits,” cofounder Eliot Buchanan told Business Insider. “Our service makes it possible for business owners and savvy consumers to use a credit card for virtually any expense that normally requires a check.” That’s right, Plastiq allows you to pay for anything with a credit card, including mortgages, rent, tuition, auto loans, utilities, and even taxes. Buchanan and Dan Choi, both Harvard grads, founded Plastiq in … [Read more...] about Two Harvard alums built a payment app so people can pay for rent, tuition, and even taxes with a credit card
Chris Chmura spends his days investigating companies on behalf of consumers as a reporter for NBC Bay Area in San Francisco. But when it comes to his own credit cards, he knows he may not be making the best choices. He and his wife have been using the same airline card for years, even though he acknowledges he could likely earn a higher rewards rate with other cards. “While I know there are better cards out there for me, the gravitational pull of the airline loyalty program completely clouds my judgment,” he says. “I know I could do better with a 2% cash-back card,” he says. But, he adds, he doesn’t see himself switching anytime soon: “If I were to start using a cash-back card, I would feel as though I was cheating on the airline.” Perhaps you, too, are caught in the trap of credit card inertia — feeling stuck with credit cards that aren’t fully optimized for your spending habits or preferences, whether out of program loyalty or … [Read more...] about How to break free of credit card inertia