DontSpendMore.com Blog

Author: dontspendmore

  • Making Long Distance Calls The Inexpensive Way

    By Rick

    Making long distance calls is not only expensive if you have the wrong plan, it can also be confusing for most people. Even though long distance calls between different areas of the country is simple, making a call to another country may require a country and region code to be added to the number. Knowing how to make these calls takes a little practice and becomes easier the more you are making long distance calls. Finding the best long distance calling plan will also help make these calls more affordable.

    Take a look at the cheapest long distance and international calling plans in the world. From traditional phone lines to VoIP, compare offers from multiple providers. Some offer a free first call to any country of your choice.

    Calling another country

    Making calls internationally requires you to have a few pieces of information before attempting the call. With some countries you’ll need an exit code to dial out of the country. You’ll also need to know the country code call of the place you’re making long distance calls to as well as the number of the person you’re calling. All of these digits together make up the sequence you’ll need to dial to make the connection. For example, if you’re making long distance calls from the United States, the exit code is 011. If you’re calling Argentina, their country code is 54 and the area code for a place like Buenos Aires is 11. All of these numbers are dialed before you dial the person’s actual number. It gets even more confusing in some countries if you’re calling a cell phone since you’ll have a special code to add for this connection.

    Do you have the right calling plan

    Before making the call, you’ll want to make sure you have coverage on your phone to avoid additional charges. Making long distance calls can become quite expensive and most carriers offer discount plans to help keep them more affordable. Be sure to review your plan before making long distance calls so you don’t have a huge bill show up next month for the conversation. Most carriers have programs you can add to your monthly contract that can lower the cost of these calls substantially. These plans can be for a specific country or may cover an entire region with the discount. Check with your carrier to see what they offer before making long distance calls.

    Check out our cell phone packages. Some plans offer a free phone. Click here to review and compare cell phone plans.

    The high-tech, low-cost approach

    With the explosive growth of the internet, you now have other options when making long distance calls. You can use a service like VoIP (Voice Over Internet Phone) to make the calls for free. These programs allow you to connect to another user anywhere in the world over the internet and have a conversation as well as video-chat for free. Making the connection through your computer may seem a little odd at first but the low cost makes up for that very quickly. Even though you’ll need to make sure your computer has a microphone and a speaker, these are easy accessories to add if you need them. These computer based calls are also simpler to make since you won’t have to worry about the country codes or complicated dialing required for more traditional phone calls. You can simply locate a person you want to contact through their user name, click connect and start talking. Making long distance calls has never been easier or less expensive.

    Take a look at the cheapest long distance and international calling plans in the world. From traditional phone lines to VoIP, compare offers from multiple providers. Some offer a free first call to any country of your choice.

  • Revolving Credit: How It Works

    Revolving credit line is one of the most common jargons used in the world of financial products. From credit card commercials and pre-approved solicitation letters to online advertisements and personal finance literature, it is impossible to miss revolving credit or revolving credit line. Yet, in an ad hoc survey, we found that over 85% of credit card (and loan) users were not familiar with the term revolving credit, what it signifies, and how it works as far as credit cards are concerned. What’s worse, even borrowers who were using these very products did not know the difference.

    In response to our questions, we received either vague, almost impromptu, definitions or strange guesses — revolving credit means credit cards that are rotated on a routine basis sorts — that were accompanied by “not sure” shrugs. No one is going to fail you an exam for not knowing the definition but being aware of the implications of different financial products can certainly help you make more informed choices and choose financial products that will save you more money as opposed to draining your wallet. An added benefit would be the avoidance of nasty surprises in the form of late fees, penalties, and other finance charges that most of us would prefer to avoid.

    Click here to compare 0% APR credit card offers with cash back rewards and $0 annual fee. Free comparison tools. Save hundreds.

    So, what exactly does revolving credit mean?

    Unlike installment credit (or a term loan), revolving credit does not have pre-defined, iron clad number of payments and fixed period of maturity (or an expiration date). In other words, the borrower is not required to pay fixed installments to repay the loan in full within a fixed duration of time. Although the borrower is free to make good use of her/his credit line, the total available credit fluctuates (increases, decreases, or remains the same) in response to how much the user withdraws, uses, and repays. The actual amount used (as opposed to the total available credit line) determines the monthly payment amount and total interest component.

    Furthermore, the borrower is allowed to reuse the amount as many times as desired as long as the total credit line is not exceeded. This flexible nature of borrowing, repaying, and reusing is probably the prime reason where the name revolving credit line comes from.

    Another significant feature of revolving credit is that the monthly payment amount is not fixed either. It varies and is pretty much controlled by the borrower (barring mandatory minimum payment requirements). It is true that a minimum payment is recommended and required, but the user can pay more (or as much) at her/his own discretion. This flexibility in payment duration and amount is not available on term loans and these variables are generally determined by iron-clad contracts.

    Example: Let us assume User A has a revolving credit line of $2,000. During the month of January, he uses $600 and repays $300, such that during the following billing cycle the actual amount used over the course of the billing cycle is $300. In this case, he will be paying interest only on $300.

    With credit cards, borrowers do enjoy a grace period and if a full payment is made within this grace period, interest does not accrue and most of the payment will go toward the principle as opposed to the interest component.

    Click here to compare 0% APR credit card offers with cash back rewards and $0 annual fee. Free comparison tools. Save hundreds.

    What is the difference between revolving credit and installment loan (or term loan)?

    The main difference between revolving credit and installment (or term) loan is that with revolving credit, the number of payments is not fixed and the borrower is free to borrow, use, pay, and re-borrow up to the total available credit line. Further, the interest rate is charged on the actual amount used, not the total available credit.

    With an installment loan, however, this feature is not available and the user is required to make a fixed number of payments at pre-agreed intervals. The amount of payment is fixed as well.

    Revolving loans are another product wherein the process works in a similar manner as revolving credit cards, but generally the former have a date of termination which is renewable at the discretion of the lender. Revolving loans are commonly available as revolving loans (for individuals), business loans, refinance loans, rollover loans, and the like.

    Businesses prefer the flexibility inherent in revolving loans as it provided much-needed cash flow for operational purposes on an as-needed basis. As such, revolving credit is available for both corporate customers as well as individuals for personal use. A vast majority of small businesses will be using flexible credit lines to finance business activities.

    So, what’s the good, bad, and ugly on revolving credit loans (or revolving credit cards)?

    Well, the good is obviously that you do have a lot of flexibility in terms of how and how much you use and pay. Also, you are not tied down to a fixed term duration and the credit is available for you perpetually (at least in theory). In reality, however, an expiration date does kick in but it is often renewed automatically — unless, of course, the borrower defaults or causes one of the “red flags” to kick in.

    Another benefit of revolving credit is that the user is not required to use the credit for pre-specified purposes that are agreed-upon in the contractual agreement.

    The bad and the ugly, on the other hand, arise from the possibility of going overboard on the spending. Further, the interest rate on these credit cards and loans is much higher so the overall amount that will be repaid at the end of the credit period will be very high — much higher than the originally borrowed amount.

    Lenders do tend to be very enthusiastic about revolving credit lines as they have more flexibility with credit lines, interest rates, finance charges, and the like. In that respect, the flexibility balance tilts in their favor as well. High interest rates are another factor that could be very lucrative for financial institutions.

    As always, read the fine print carefully to ensure you don’t get caught off-guard. If you don’t understand your contract, consult an attorney. If you can’t afford one, there are plenty of non-profit organizations that will assist you with contract interpretation and negotiation.

    Click here to compare 0% APR credit card offers with cash back rewards and $0 annual fee. Free comparison tools. Save hundreds.

  • A Four Step Approach To Spending Less And Saving More Money

    By John

    These days we are all looking for ways to make our hard-earned dollars stretch a little further. Cutting the big-ticket items is obviously something you will already have considered – for instance, moving to a new house, forgetting the new car or boat, or taking less extravagant vacations. Now you are probably looking for ways to trim your living costs. Even modest changes to your day-to-day spending habits will save an appreciable amount of money without affecting your quality of life, and a determined effort can save you literally thousands of dollars a year.

    Click here to compare money-saving offers on credit cards, cell phones, long distance, Internet access, and so much more. Save hundreds of dollars every month. Free comparison tools.

    So, how can I save more money?

    Step No 1: Arrive at a budget

    The first step is to arrive at a budget. Take away the fixed annual items of expenditure, like insurance premiums, from your total annual income; then take away the fixed monthly items of expenditure, like cable, internet and TV, from what’s left, and now you have the amount of your disposable income. But hang on! Who says those items are “fixed”? If you are still wondering how to save more money, here’s Step 2.

    Step No 2: Find ways to spend less

    You need to take a long look at those “fixed” items. The gym and other club memberships, for instance. Do you really need them? And if you decide you do, can you not get a cheaper type of membership that better reflects your schedule? Many things are negotiable in these competitive times. There are many ways too of getting discounts on auto, home and other insurance premiums – for instance, by bundling them together with one provider. Perhaps your circumstances have changed since you took out your auto policy – say, your son has left home – can you not adjust the collision waiver amount? All those “fixed”items need to be queried. You will end up spending less.

    The same goes for the “fixed” monthly items too. Bundling all your TV, cable, internet and cellphone packages will produce significant savings. You should consider carefully which mobile data plan works for you – are you predominantly a texter, or chatterer, or mobile surfer, or a mix of all of them. Get a plan that fits your usage patterns. Maybe you can drop the landline altogether if all your family members own cells? Are you getting the best deal from your utilities company?

    Having hopefully reduced the outlay on all the fixed items you can now deduct the total from your income leaving you with your disposable income, which gives you your budget.

    Here are more ways to save money and spending less.

    Step No 3

    Before apportioning your budget, you must know what you have been spending your money on in the past, which is why keeping records is important. A sensible approach at this stage is to set yourself a goal of cutting say 10% off each of the major components of expenditure – utilities, food and groceries, transportation, and entertainment. Next you should look at each of those areas of expenditure and identify what is unimportant and can be cut out, and what is important but can be reduced. Through a combination of using less and smart shopping, you will Spend Less And Save MORE.

    Click here to compare money-saving offers on credit cards, cell phones, long distance, Internet access, and so much more. Save hundreds of dollars every month. Free comparison tools.

    Step No Four

    How to apply this lesson? Using less when combined with wasting less can save a remarkable amount of money on utilities: fix leaks of heating and air-conditioning from your house by insulating the roof, sealing doors, windows and other cracks, and fix leaking faucets at once. Switch off lights in empty rooms. Maximize the use of programmable thermostats to control heating and cooling, and motion sensors to control outdoor lighting. Switch to CFL light bulbs. Turn off running water when shaving, brushing your teeth and lathering. Use a bucket when washing the car. Using conscientious economy a saving of 10% on your utilities bill is not hard to achieve.

    With food and groceries the emphasis is more on smart shopping. Always shop with a list. Knowing your prices is key, so that you know when something is a bargain. Go online to research good deals. Clip coupons – some people report regularly saving 50% on their grocery bills through using coupons. Hunt down sale items and discounts and use store loyalty cards. Buy generic goods not brand names. Buy stores’ own products. Buy non-perishables in bulk or big packages. Go to the butcher’s for meat, and the bakery for bread. Save a dollar here and a dollar there – it all adds up.

    Don’t buy prepared foods – make your own lunches and snacks. Make your own coffee at home and take it with you.

    On transportation you can make sure your car is in good operating condition, and have it regularly serviced. Do basic maintenance yourself. Buy spare parts yourself for the mechanic to fix. Seek out best gas deals online. Make less trips, especially for shopping. Drive conservatively.

    On entertainment you can spend less by eating out less, renting movies instead of going to the theater, using the library for books and more. Spending less in this area will affect your lifestyle, of course, but saving $60 or $70 by not eating out just one less time in a month sounds a pretty good way to help you achieve your goal.

    Using this Four step approach will help you to spend less and save more. And as the savings mount up, make them work for you by opening an interest-bearing deposit account.

    Click here to compare money-saving offers on credit cards, cell phones, long distance, Internet access, and so much more. Save hundreds of dollars every month. Free comparison tools.

  • Top Ways To Cut Household Expenses

    By John

    Whatever your reason for wanting to cut household expenses — whether simply to make ends meet, or to save money for another purpose — there are essentially four ways of looking at how to go about it: using less, wasting less, buying less, and getting the best deals.

    You need to take a long hard look at everything you consume at home to see what you can cut back on. In most cases the solution won’t involve much pain at all when you realize how much money you are going to save, but other solutions will inevitably involve a change in lifestyle and some sacrifice. One way of achieving the savings you want could be by aiming to reduce your expenditure in each category by, say, 5 or even 10%.

    Click here to compare offers and save hundreds of dollars every month. Compare and save on credit cards, long distance, cell phone bill, Internet, mortgages, computers, and more. Free comparison tools.

    One of the most common questions we receive here, at DontSpendMore.com, is “how to cut household expenses?” Here is a list of the main categories of household expenses and some of the actions you could be taking or options you could be considering:

    ELECTRICITY – How Can You Use Less, Waste Less, Buy Less, Get Best Deals…

    * Use a programmable thermostat for your heating — turn the temperature up say 10 degrees before you go to bed and before you leave the house.

    * Use space heaters instead of central heating.

    * Make sure the house is leak-proof – doors, windows, other cracks.

    * Insulate the roof and attic.

    * Switch off appliances when not using them.

    * Unplug all appliances when away from home, or at least use power strips.

    * Buy Energy Star-rated appliances for greater economy.

    * Run major appliances in the evening.

    * Could you switch to gas?

    * Could you switch from central air-conditioning to individual units?

    * Use a fan instead of air-conditioning.

    * Turn off lights when you leave the room.

    * Switch to CFL or LED light bulbs.

    * Comparison-shop to get the best rate.

    WATER – How Can You Use Less, Waste Less, Buy Less, Get Best Deals…

    * Take less showers and keep them short.

    * Turn off faucets when brushing teeth, shaving, lathering.

    * Find and fix leaks.

    * Operate the dishwasher and washing machine on full loads.

    * Water your lawn in the evening.

    * Use a broom not a hose to clean your sidewalk.

    * Wash the car using a bucket not a hose.

    * Collect rainwater for use in the garden.

    GROCERIES – How Can You Use Less, Waste Less, Buy Less, Get Best Deals…

    * Use leftovers in a different menu.

    * Don’t throw out good food – “Best Before ___” does NOT mean “Inedible After ___”.

    * Eat less meat.

    * Make a list of your needs, not wants, before you go shopping.

    * Have a meal before you go shopping.

    * Buy generic brands not brand names.

    * Buy stores’ own products.

    * Comparison-shop.

    * Clip coupons.

    * Research good deals online.

    * Buy big or in bulk (not perishable foods).

    * Don’t buy bottled water.

    * Grow your own vegetables if you have the space.

    TRANSPORTATION – How Can You Use Less, Waste Less, Buy Less, Get Best Deals…

    * Keep your car in good working order.

    * Walk more.

    * Bike to work.

    * Cut down the number of trips to the shops.

    * Comparison-shop for best insurance rates.

    * Check for discounts.

    * Make sure your insurance policy fits your family’s circumstances.

    * Buy spare parts yourself for the garage or mechanic to fit.

    * Do the basic maintenance yourself.

    * If you have more than one car, could you sell one?

    * Could you downgrade your car?

    MEDIA – How Can You Use Less, Waste Less, Buy Less, Get Best Deals…

    * Bundle as many services as you can (cable, TV, phones, internet) with one provider. *Negotiate the best deal with that provider.

    * Can you drop cable TV and watch shows online?

    * Only pay for the TV channels you actually watch.

    * Can you drop the landline if all your family own cellphones?

    * Make sure your cellphone plan fits your usage patterns.

    * Text less.

    * Consider a pre-paid plan.

    ENTERTAINMENT – How Can I Use Less, Waste Less, Buy Less, Get Best Deals…

    * Read books from the library instead of buying them.

    * Rent movies instead of going to the theatre.

    * Search for free concerts.

    * Set a strict budget for eating out, and be modest in your choice of menu items and wines. * Go for a picnic instead?

    * Make more of your own meals, including lunch.

    * Cut back on visits to the coffee-shop, make your own coffee and take it with you.

    * Cut back on home delivery meals.

    We hope this article addressed your question about how to cut household expenses. If so, please do let us know in the comments below.

    Click here to compare offers and save hundreds of dollars every month. Compare and save on credit cards, long distance, cell phone bill, Internet, mortgages, computers, and more. Free comparison tools.

  • What Is Card Security Code: CSC or CVV

    If you have ever had to make a payment online (card not present transactions), you should be familiar with Card Security Code (CSC). For Mastercard* and Visa*, it is a three-digit number whereas for American Express* and Discover*, it is generally a four-digit number. Card Security Code is recognized by various acronyms depending on the industry, product, or service you are working with:

    Card Security Code (CSC), Card Verification Value (CVV or CVV2), xCard Verification Value Code (CVVC), Card Verification Code (CVC or CVC2), Security Code, Credit Card Security Code, Debit Card Security Code and some other variations

    Click here to compare 0% APR credit card offers. No annual fee, rewards, bonus points, cash back, and more. Free comparison tools.

    What is Card Security Code (CSC) and why do merchants ask for it?

    Basically, your Card Security Code is an additional layer of protection to prevent fraudulent transactions. Every credit card would have the Card Security Code physically imprinted on it. It is just like your credit card number and expiration date. The combination is always unique and is an enhanced safety mechanism as these codes are generally not printed on receipts or stored in internal systems.

    Merchants would generally ask for the CSC in addition to your credit card number and expiration date. Some merchants will have strict matching requirements so your mailing address must match with the credit company’s records to the T. Even the slightest variation could cause the transaction to fail. In reality, many merchants do not setup their payment processing systems at the highest security levels. Primarily, to make the process easy for consumers and avoid transaction failures for even small data errors.

    If you are able to verify your mailing address and Card Verification Value (CVV), merchants can be assured that you are in physical possession of the credit card and not some scammer who has hacked into an online credit card database to unscrupulously download credit card numbers and rob innocent victims.

    Chargebacks are another reason why online merchants and E-commerce stores ask for CVV numbers. If the transaction has a security code associated with it, the transaction would be considered a legitimate transaction that the owner of the card probably consented to. It is not a guarantee that the transaction was legitimate but certainly proves that an additional barrier was accurately verified. Just one more defense in the merchant’s arsenal should the credit card owner question the legitimacy of the purchase.

    Not all merchants ask for the Card Security Code number, though. Some online storefronts setup their payment processing systems at moderate or low security levels (for reasons discussed earlier) and often bypass the CVV requirement to make transaction processing a breeze for customers.

    Where to find the Credit Card Security Code?

    Fortunately, that is not the hard part. The Card Security Code is physically imprinted on the credit card itself and is very easy to spot. Generally, Discover, Mastercard and Visa follow a similar protocol when it comes to the security code, whereas American Express has its own protocol. Discover, Mastercard, and Visa make use of a three-digit security code, while Amex uses a four-digit number.

    How to find the security code on Mastercard?

    For Mastercard users, simply flip the card the three-digit CVV code for Mastercard is generally the last three numbers you see on the back of the card (toward the right).

    As a rule, merchants are required not to store the CVV code so even if other variables are hacked, CVV will still serve as a final layer of protection against deceptive purchases.

    How to find the security code on Visa?

    For Visa credit cards, the Card Verification Value (CVV) is found in a similar manner. It is the last three numbers you see on the back of the card (extreme right).

    How to find Discover’s CSC Number?

    Discover again follows a similar protocol: Last three numbers on the back of the card.

    How to find the CVV code number for American Express?

    American Express uses a four-digit number that is normally on the front of the card. These four numbers could be found just above the credit card number (toward the right).

    Debit Card Security Code

    Do debit cards have a security code as well? Yes. If you see a Mastercard or Visa logo on the debit card, the security code can be found in the same manner as you would on a regular Mastercard or Visa credit card: The last three digits on the back of the credit card. If your debit card does not have one of the association logos, ask your issuer as to how you can find the CSC code number.

    Do prepaid and gift cards have a CSC as well?

    Each issuer would have its own protocol for the security code but as a rule of thumb, you would find the code the same way as on a regular credit card. Mastercard, Visa, and Discover cards would use a three-digit number (reverse side) whereas Amex would have a four digit number on the front.

    A word of caution when it comes to providing your Card Security Code number

    Generally, CSC codes are not printed on purchase receipts and that is the primary reason why they are considered to be “relatively hacker safe.” Further, merchants are required to avoid storing the CVV number in their internal systems and databases. Whether all merchants comply with this requirement is something we are not aware of.

    As a precaution, treat the CSC as if it were your Social Security Number. Check the reputation of the merchant you are making the purchase from. Read their online reviews and complaints to ensure you are not giving away your CVV code on a phishing site. Scammers often setup phishing sites that look like legitimate merchants in an attempt to extract your personal information. Make sure the site is secure and the merchant is legitimate. If you have any doubts, call the 800-number and ask for the company’s privacy policy and security protocol. Safety first!

    * Registered trademarks owned by the individual companies.

    Click here to compare 0% APR credit card offers. No annual fee, rewards, bonus points, cash back, and more. Free comparison tools.

  • Can I Pay Credit Cards With Debit Cards?

    By David

    As our banking systems grow more complex and new features are implemented, it raises questions among the populace. One such question raised is “can I pay credit cards with debit cards?” The simple answer is yes. There are a few different options to choose from when one goes about paying a credit card with a debit card.

    Click here to compare credit cards and save through 0% APR and low APR offers. Hundreds of credit cards to choose from. Free comparison tools.

    Choosing your method

    The very first thing to consider when you pay credit cards with debit cards is what method you’d like to use. For those just starting you may wish to consider a “pay over the phone” method. Though you will most likely have to navigate through a phone based options menu it does eventually lead to a real person who is there to help you through the process making this one of the easier, and least intimidating of the options.

    Alternatively if you’re not one to shy away from computers, websites, and online financial transactions there is another option available for paying your credit cards with your debit cards that you may find even more convenient, especially if you’re not a fan of navigating phone menus. This of course is the “pay online” option which can be done in a couple different ways. If you have online banking that includes a bill pay system you can go to your banks website, set up a “pay to” account for your credit card and send payments right from there. Once it’s set up, simply check your credit card balance (either on your statement or by logging in to your credit card account online) and the amount you wish to pay (anywhere between the minimum and the current balance) and submit the payment request. Once you have the hang of this, it is a very quick and easy option. If your bank doesn’t have a website or bill pay, you can instead make payments directly through your credit cards web site. Just sign-in, your balance should be displayed fairly prominently on the first page for you somewhere, head to the payments section and enter the amount you wish to pay. If it is your first time, you will have to enter your debit card information including your debit card number, the name on the card, the expiration date, and the CCV (the three to four, digit security code on the back of the card next to the signature line). Once you have this information entered, you can opt to have the website save it for future payments saving you the hassle of entering it next time.

    For even more convenience either your bank or credit card website may offer an automatic payment system. These are typically set up the same way as the other online payment methods, with the only difference being that they recur each month automatically.

    As you can see, there are indeed a few methods available to you for paying your credit cards with your debit cards.

    Click here to compare credit cards and save through 0% APR and low APR offers. Hundreds of credit cards to choose from. Free comparison tools.

  • How To Save Money On Your Credit Cards

    By David

    Times are tough and finances are stretched thinner than ever. Everyone is trying to find ways to reduce their bills to make their hard-earned money go just a little further. Obviously all the possible cost saving methods are too broad a topic for just one article, so today we’re going to focus in on your credit card bills; specifically, how to save money on your credit cards.

    Click here to save money on your credit cards by comparing low APR and 0% APR credit card offers, including cards with rewards and bonus points. Free comparison tools.

    Get a loan or a low interest credit card

    For most credit cards these days, the average interest rate is around 15%, whereas a low interest credit card is at about 10.4%, and loans are even lower than that. The advantage being that you can reduce your interest rates saving you money on your credit cards over the long run and, consolidating all your payments into one convenient payment.

    Use part of your savings to pay off credit cards quickly

    While it’s important to maintain a certain amount in your saving for emergencies, often times we find we have more there than we really need. The faster you can get those credit cards paid off the less you’ll end up paying and so it’s just good sense to use extra money that is at best gaining 3% to pay off a credit card with a 15% interest rate. Assuming identical rates, that’s a savings of 12%. Now, that is how to save money on your credit cards.

    Pay off the smallest debt first to free up assets to tackle larger ones

    We all know that the ultimate goal here is to get rid of or drastically reduce the debt. Assuming you have multiple credit cards with outstanding balances, you can pay the minimum on all but the smallest of them. There are a couple of great reasons to start with the card containing the smallest balance in order to help you save on your credit cards. First among these is the freeing of resources. For example let’s say you have three credit cards, one with $200 on it, one with $500 on it, and one with $1000 on it. And you can pay $200 a month on all of them. You pay the minimum on the two larger ($25 and $50 respectively). Then you throw all of what’s left at the $100 card paying it off completely. As you pay off each card you are freeing up the resources that previously would have been required to pay on that card and allowing you to focus your efforts.

    The second benefit and arguably the more valuable, is the psychological relief that comes from successfully paying off a debt. Once you’ve had the first success it encourages you to continue and relieves some stress. Paying on the smallest debt first helps that moral boosting success come sooner and helps to keep you from developing an “I will never get it all paid off” attitude.

    The above tips are just a few of the many available to you. Utilizing these strategies can help you save money on your credit cards and help you along your path to a more financially stable life despite the ever tighter economy.

    Click here to save money on your credit cards by comparing low APR and 0% APR credit card offers, including cards with rewards and bonus points. Free comparison tools.

  • How To Make Money With Credit Cards

    By David

    Everyone knows about credit cards. We have a basic understanding of how to use them and how they work. However what many people are not aware of is that you can use your credit cards to make you extra money.

    Click here to compare cash back and rewards credit cards that will offer money back, bonuses, travel points, and more. Free comparison tools.

    The easiest way to do this is through the use of a cash rewards card. These cards typically have an interest rate around 15% and will offer you 2% to 3% back on certain items you buy, such as gasoline or groceries, and around 1% back on everything else. Now that doesn’t sound like a great deal, especially compared to a 15% APR, but there’s an easy way around that allowing you to collect 1%-3% cash back simply for spending money you would have spent anyway and allowing you to make money with credit cards!

    As you’re probably aware credit cards have a “grace period.” This is a period of typically 30 days when a purchase you have made remains on your credit card interest free! This allows you to make purchases and pay them off within the grace period in order to build credit without incurring debt.

    Now when you combine the cash back from a rewards card with the grace period mechanic you find that you’re able to make money with credit cards. Just put everything you’d normally pay with cash or a check on the credit card instead and pay it off in full within the grace period. This allows you to reap that 1% to 3% cash back without having to pay any interest on your purchases and builds your credit at the same time.

    This strategy however is only viable if you have the discipline to follow a few simple rules:

    1. Never spend more than you have – while it is tempting to put huge purchases on these cards for the additional cash back, the inability to repay those purchases within the grace period invalidates this strategy. As a general rule of thumb, never spend more money than you actually have. This helps ensure that you can pay off the entire balance within the grace period.
    2. Make sure you pay the full balance within the grace period – It’s very important to make sure to get payments in before the end of the grace period, otherwise you’ll end up paying interest on your purchases. Since most credit cards have some means of paying online, I recommend sending payments weekly rather than monthly. This will ensure a speedy delivery and allows plenty of leeway to make sure you don’t miss that crucial grace period.
    3. Take advantage of extra perks – Some cards, especially those associated with a bank will offer a little bonus just for redeeming your rewards to a bank account you have with them. If you can take advantage of these kinds of bonuses without it costing anything extra, make sure you do.

    Using these tricks and tips you can make money with your credit cards by simply spending the money that you’d normally spend anyway throughout the month.

    Click here to compare cash back and rewards credit cards that will offer money back, bonuses, travel points, and more. Free comparison tools.

  • Help Me Find A Credit Card!

    By David

    With so many options available it can be a challenge to figure out what kind of credit card is best for you. Still, if we take a closer look at the different types of cards and how they work we should be able to help you find a credit card that is right for you.

    Click here to compare 0% APR credit card offers and save. Free comparison tools.

    Types of cards

    There are several different types of cards to choose from with different features and drawbacks. To help you find a credit card you will want to start by choosing one of these.

    1)      Prepaid Cards – a prepaid credit card is similar to a gift card except that you can use it anywhere that type of credit card is accepted. These types of cards are great for children just learning to use a credit card, or for making online purchases without risking all the money in your bank account.

    2)      Low-Interest Cards – Low interest credit cards typically have an APR of about 10.4% making them a great option for balance transfers from higher interest cards, or for using as an emergency card for things that will take a while to get paid off.

    3)      Rewards Cards – These type of cards typically have and APR around 15% but offer you rewards that make their use more enticing. These are best for short term borrowing for things you generally buy on a regular basis so that you can take advantage of the rewards while avoiding the higher APR by paying purchases off within the “grace period.”

    4)      Bad Credit Cards – These are typically high APR cards with low credit limits, intended as a means for those with bad credit to carefully rebuild it.

    Other Considerations

    Once you’ve decided on the type of credit card, you’ll want to look at some of the specifics of the cards in order to help you find a credit card.

    1)      Annual Fee – Though these are dropping out of common use some cards still have a yearly fee just for possessing the card. Unless the card comes with rewards or an APR worth the fee, try to find one without.

    2)      Interest Rate – This is probably the most important factor to consider. The lower the interest rate the less interest you’ll pay on long term purchases. Many cards will offer a lower introductory APR for the first few months. These are nice, but make sure you know what your APR will be after that so you’re not tricked into getting a card with an unreasonably high rate.

    3)      Rewards Programs – if you’re going with a rewards card make sure the card is offering the type of reward that you want. While frequent flyer miles may be a great reward for some, it’s not so enticing for those who never fly.

    Get your card

    Once you’ve decided on a type of card and found one with the perks you like and rates and fees you’re comfortable with, just apply and wait for their response.

    Click here to compare 0% APR credit card offers and save. Free comparison tools.

  • Choose Smart And Get A Low Interest Credit Card

    By David

    Irresponsibly using a credit card can be costly, but picking the right one and respecting the grace period will turn it into as safe a loan like any other. Provided you get a low interest credit card, this method of payment is quite efficient, which is why the number of credit card holders continues to increase.

    Click here to compare low interest and 0% APR credit cards. Free comparison tools.

    Credit cards or consumption loans?   

    Both options are relatively rapid and easy ways to obtain money, compared to other types of loans. However, credits cards are more flexible, but interest rates tend to be higher. If used responsibly, however, credit cards have many benefits.

    Advantages of credit cards

    • Grace periods with 0% interest, in which reimbursement can be made in multiple small rates, or integrally.
    • Fixed rate payments.
    • Bonus rewards.
    • Various types of insurance (life, death, trips, car rentals etc.).
    • Loyalty programs.
    • Possibility of getting a credit card even if you have a low income, unlike bank loans.
    • Interest rates and payment periods can be changed.

    What is the interest rate?  

    The interest rate is what the lender charges you for using your credit line to make purchases. It is established by each financial institution, based on several factors: the market supply and demand, the discount official tax, the state’s economic power, the inflation rate and the bank’s adopted policy. In order to save money, it is recommended you get a low interest credit card. Generally, a low interest rate revolves around 10%, and there are even credit cards with interest rates as low as 7% or even 0%.

    How to get a low interest credit card?

    It is essential to compare credit card options, and pick the cheapest one. Total costs of a credit card are included in the annual interest, which is the safest indicator for selecting offers when it comes to price.

    Also, you should keep in mind that some banks issue special types of credit cards, which come with great benefits, such as 0% interest rates and various reward programs. By using the credit card for direct payments in stores or for paying bills, you can benefit from these extra perks.

    Using the credit card intelligently

    The first step is to get a low interest credit card. Then, it’s up to you to use it wisely:

    • Do not use the credit card for cash withdrawals unless it is necessary, because most banks collect additional fees for these transactions;
    • Inform the bank when if you won’t be able to make your monthly payment, as some lenders will waive non-payment penalties as a courtesy if you contact them.
    • Remember that late payments can increase your interest rates.
    • Renegotiate your credit card interest with the issuing bank, whenever you feel like you are paying more than you should.

    Low interest rates due to today’s uncertain economic times have prompted most financial institutions to come up with a wide variety of credit card options. In such a competitive field, it is easy to get a low interest credit card and profit from other rewards as well.

    Click here to compare low interest and 0% APR credit cards. Free comparison tools.