Credit Cards Tips for You

The American Express Platinum card is widely recognized as being the most feature filled premium rewards card available to the general public the only other card that bests it is the elusive, invitation only Black/Centurion Card. Despite carrying a lofty $450 annual fee, Amex Platinum card devotes are more than willing to ante up as those who take advantages of this card’s perks can reap significantly more than that in benefits. Like their consumer version of the card, American Express has endowed the Business Platinum Card with nearly every imaginable feature to allow cardholders to realize the maximum savings from this ultra-premium product.

American Express Business Platinum members earn one membership rewards point per dollar spent, and two points per dollar spent when booking travel through American Express. The Membership Rewards program allows cardholders to redeem points for a myriad of gift card and travel related statement credits at a rate of one cent per dollar spent. There is an extremely valuable 20% bonus when points are redeemed for travel (I’ve personally focused on redeeming my points for travel since this perk was added in early 2011. Not o

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Ever wonder what a credit card thief gets for his troubles? The answer is $3.50.

A European hacker nicknamed Poxxie hacked into the computer network of a US company and stole 1,400 credit card numbers. He then sold them for $3.50 on his own website.

Poxxie sold the numbers to buyers who now trust the quality of his products – AKA stolen card numbers. Ironically, he stated, “The main thing in any business is honesty.” I don’t know about you, but stealing credit card numbers doesn’t seem honest to me!

Sadly, this isn’t the only such case out there – not by a long shot. Other hackers perform similar activities on a routine basis. Credit card theft alone has become a $100 plus billion dollar per year industry. Let’s take a look at some of the stats in the high-stakes business of credit card theft.

Amount of Card Numbers Stolen Annually

It is estimated that thieves steal 8.4 million credit card numbers in the US each year. Many do so on Amazon.com.

Other sites, like Poxxie’s, allow customers to shop by card type, credit limit, bank and zip code. Think of them as

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If you’re thinking about using a debt consolidation or debt settlement service to help you get out of debt faster and save money on your monthly payments, make sure you do your homework before choosing a company. There are definitely shams and scams out there.

First let me say that debt consolidation is *not* the same as debt settlement/negotiation, which most people don’t realize.

Debt settlement companies charge hundreds of dollars as an initial “admin fee” to set up your account, plus a monthly service fee. The fees vary depending on the company and the amount of your debts.

Such companies take your money every month, but don’t make monthly payments to your creditors! Instead, they put it in a trust account, negotiate your debts with your creditors, then make a lump-sum payment when there’s enough in your account to pay a creditor in full.

That can take *years* depending on the amount of debt you have with each creditor. Meanwhile, you can be sued by your creditors and your wages can be garnished! (Or just don’t make payments to your creditors. You’ll end up

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When applying for a credit card, many people are more concerned with the credit limit on their credit cards or the interest rates they are being charged than with the fees that may be associated with the account.

Some cards are advertized as “prepaid cards, no fees.” However, many cards have at least some fees. It is very important that you shop around to find cards with the best mix of low fees, low interest rates and high credit limits to suit your needs.

There is a wide range of types and amounts of fees a credit card may have. Here are some of the most common types you should look for:

• Application Fee and/or Set Up Fee – a fee charged to open your account
• Annual Fee (may also be called a Membership Fee or Participation Fee) – may be charged once a year or pro-rated monthly
• Balance Transfer Fees – either a flat fee or a percentage of the amount transferred
• Cash Advance Fees – either a flat fee or a percentage of the amount of the advance
• Credit Limit Increase Fees – charged if you ask for, and receive, an increase in credit
• Late Payment Fees – charged if your payment is received after the due date
• Over the Limit Fees – charged if you make a purchase that exceeds your credit limit. Under the

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With everything going on this time of year- gift buying, family gatherings, office parties, secret Santas and of course losing those 10 lbs of holiday weight first thing next year at the gym (resolution #1 of course).

There is one thing on your list that lets face it -no one likes to pay.

Annual Card Membership Fees.

The end of the year is a perfect time to start thinking about a credit card that does NOT have an annual fee. Timing a switch now allows you to avoid paying as much for the privileges of using your credit card next year.

Yet if youre still stuck carrying a balance on those old cards, no worries! Here are a couple of credit cards that you can transfer your outstanding balance toand that have nice, long 0% APR on balance transfers for you as well. Plus No Annual Fee!

The Slate® from Chase MasterCard and the Discover® More Card 18 Month Promotional Balance Transfer are ideal early and late holiday gifts to give yourself. They “present” you with no annual fee and over a year before you start accruing interest for balance transfers.

Use the Slate from Chase MasterCard if you are seeking a card that arms you with the power of Blueprint so you can design your own repayment options. Or if

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