Debt

“There are no shortcuts when it comes to getting out of debt.” ~ Dave Ramsey

“We all think we’re going to get out of debt.” ~ Louie Anderson

“The whole point of credit cards, the way they are rendered most profitable, is that we dig ourselves into debt and stay trapped there forever.” ~ Brett Williams

“When I was young, people lived paycheck to paycheck. Today, it seems like they live from credit card payment to credit card payment.” ~ Robert Kiyosaki

“The average American is nearly $7,000 in debt.” ~ RamitSethi

“The fact is, nearly 75 percent of Americans who use credit cards make only the minimum payment each month. At that rate (minimum payments) you could spend the next thirty years paying back a $3,000 credit card debt and give the financial institution $8,000 worth of interest. It’s the principle of compound interest in reverse.” ~ Raymond McHenry
“The only man who sticks closer to you in adversity than a friend is a creditor.” ~ Anonymous

“One of the greatest disservices you can do to a man is to lend him money that he can’t pay back.” ~ Jesse H. Jones

“It is imperative that we make consumers more aware of the long-term effects of their financial decisions, particularly in managing their credit card debt, so that they can avoid financial pitfalls that may lead to bankruptcy.” ~ Daniel Akaka

“The minute a Wall Street firm purchases your debt, your bank no longer has it on its financial statement, which then allows the bank to look for more credit card customers. That’s one reason why you get so many credit card offers.” Robert Kiyosaki

Students and Debt

“Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It’s a trap for the rest of your life because the laws are designed so that you can’t get out of it. If a business, say, gets in too much debt, it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy.” ~ Noam Chomsky

“Many kids come out of college, they have a credit card and a diploma. They don’t know how to buy a house or a car or health insurance or life insurance. They do not know basic microeconomics.” ~ Jesse Jackson

“Typically, students slide into debt through the extension (by credit card companies) of unaffordable credit lines.” ~ Robert Manning

Good Intentions

“In January we start saving money, getting out of credit card debt, funding our retirement accounts, and we’re doing wonderful. Then, every single year like clockwork, starting in November, all of you fall into this trap that says, ‘I have to buy this gift. . .  I can’t show up at this party and not have something for everybody.’” ~ Suze Orman

“You goal should be to pay off your credit card bills in full at the end of each month and set aside money toward your emergency savings.” ~ Suze Orman

Credit Advice

“If you don’t have the money management skills yet, using a debit card will ensure you don’t overspend and rack up debt on a credit card.” ~ T. HarvEker

“I don’t use a debit card. The safest thing is a credit card because you’re using the bank’s money. If someone accesses your information, they are stealing the bank’s money, not yours.” ~ Frank Abagnale

“You have two pages, that’s the whole credit card agreement. The terms are clear and flat and easy to see so anyone can read them. So you could lay four credit cards in front of you and say, ‘Oh, that’s the one that has the highest rate, that’s the one that has the really scary provision that could hurt me.’” ~ Elizabeth Warren

“I have always advocated doing everything possible to pay off credit card balances; it’s good financial management and the ticket to a strong FICO credit score.” ~ Suze Orman

“High bankruptcy rates, increased credit card debt, and identity theft make it imperative that all of us take an active role in providing financial and economic education during all stages of one’s life.” ~ Ruben Hinojosa

“If you have a debt issue or credit card issue, start dealing with it. If you have a tax issue, don’t just say, ‘I’m not going to file.’ There are ways to deal with these things, but you must communicate with your creditors, whether it’s a credit card company or tax department.” ~ Hill Harper

“A cash advance on a credit card is one of the worst types of borrowing because the interest rate is typically 21 percent or more.” ~ Suze Orman

Privacy Issues

“Oh, I think there are a lot of people who would be buying and selling online today that go up there and they get the information, but then when it comes time to type in their credit card they think twice because they’re not sure about how that might get out and what that might mean for them.” ~ Bill Gates

“Everything we do in the digital realm – from surfing the Web to sending an e-mail to conducting a credit card transaction to, yes, making a phone call – creates a data trail. And if that trail exists, chances are someone is using it – or will be soon enough.” ~ Douglas Rushkoff

“Social security, bank account, and credit card numbers aren’t just data. In the wrong hands they can wipe out someone’s life savings, wreck their credit and cause financial ruin.” ~ Melissa Bean

“All they need to do is to set up some website somewhere selling some bogus product at twenty percent of the normal market prices and people are going to be tricked into providing their credit card numbers.” ~ Kevin Mitnick

“I trust online banking. You know why? Because if somebody hacks into my account and defrauds my credit card company, or my online bank account, guess who takes the loss? The bank, not me.” ~ Kevin Mitnick

“There are many random, unprotected sites online that appear safe to use and are ready to accept credit card information. You wouldn’t give a stranger off the street your credit card information, so be extra cautious about who you are sharing it with online.” ~ Alexa Von Tobel

Credit Repair

“If repairing one’s credit is as easy as sending some dispute letters to the credit bureaus then why doesn’t everyone have good credit?” ~ Tyler Gregory

Miscellaneous

“Americans used to be ‘citizens.’ Now we are ‘consumers.’” ~ Vicki Robin

“You don’t realize how much you use your credit card not even to buy things. It’s a card you get so you can navigate society.” ~ Adam Carolla

“A budget is telling your money where to go, instead of wondering where it went.” ~ John C. Maxwell

“The thing about credit cards is that they assume an importance in our lives that takes them far beyond an innocuous piece of plastic in our wallet, directly to the heart of the way we live. For some of us, they’re all about convenience; just another way to conduct financial transactions. These convenience-seekers use credit cards at will, pay them off each month and reap the rewards points. For these people, plastic is fantastic. For a large proportion of us, however, credit cards are the way we fill the gap between the lifestyle we can afford and the lifestyle we actually live. To these people, a credit card is a ‘frenemy’, loved and hated in equal measure. The trouble is that once you get used to the idea of supplementing your income with someone else’s cash, it becomes a difficult habit to break. So we love the card for its access to what we think of as ‘life’, but hate it because those bills roll around with monotonous regularity, reminding us of our excesses.” ~ Allison Tait

“You don’t build wealth with credit card rewards and airline miles. You can’t beat the credit card companies at their own game.” ~ Dave Ramsey

“In childhood, a library card take you to exotic, faraway places; in adulthood, a credit card does.” ~ Evan Esar

“In 1973, a woman could not get a credit card without her husband or father or a male signing off on it.” ~ Billie Jean King

Humorous quotes just for fun

“Act your wage.” ~ Dave Ramsey

“A bank is a place that will lend you money if you can prove that you don’t need it.” ~ Bob Hope

“If you think nobody cares if you’re alive, try missing a couple of car payments.” ~ Earl Wilson

“Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.” ~ Will Smith

“We didn’t actually overspend our budget. The allocation simply fell short of our expenditure.” ~ JP Getty

“Someone stole all my credit cards, but I won’t be reporting it. The thief spends less than my wife did.” ~ Henny Youngman

“It’s amazing how fast later comes when you buy now!” ~ Milton Berle

“It’s easy to meet expense – everywhere you go, there they are.” ~ Anonymous

“Christmas is the season when you buy this year’s gifts with next year’s money.” ~ Anonymous

“Stores are never nice to people. They’re nice to credit cards.” ~ J.F. Lawton

“Today, there are three kinds of people: the have’s, the have-not’s, and the have-not-paid-for-what-they-have’s.” ~ Earl Wilson

“The best protection against identity theft is bad credit.” ~ Johnny Corn

Though you have reached the end of our series, we would like to remind you credit card aficionados that CREDIT CARD IDEAS provides many, many articles, reviews, tips and just about any information and resources you need to make an informed decision about credit cards. We hope you have found our “Tips and Info from the Experts” series helpful and informative, but please don’t stop there. We invite you to explore our site further to enjoy all that we have to offer.

1. Cardratings.com founder Curtis Arnold examines The Quickest Way to Build Credit Using a Secured Credit Card.
   • Look for the AmEx, MasterCard, Visa or Discover logo to besure the card you get is accepted most places, and find one that reports your credit usage to all three main credit card bureaus.
   • Compare the deposit requirements to select the card best suited for your budget.
   • Do your utmost to pay your full credit bill every month so that you don’t carry a balance. But in the event that a carry-over balance cannot be avoided, it’s important to compare APRs before choosing your secured credit card. Interest rates for secured cards are typically higher than other credit card offerings.Try to go no higher than 15 percent. Be sure to read all the terms before committing to a card.
   • Whether or not your secured card will have pre-qualifications depends largely on just how bad or non-existent your credit is. No pre-qualifications equals extremely bad credit terms.
   • Set a goal to graduate to a regular credit card within 12 to 18 months. If your secured card issuer doesn’t provide this option, go looking on your own once your credit score is higher than 650.
2. In 3 Ways to Increase Your Credit Score in 2015, Matthew Frankel gives you detailed information about repairing damaged credit with specific examples and tips.
   • If your problem is bad credit, assess your negative credit items to determine which information can be removed or minimized.
   • Pay as much as possible on your debt so that your available credit is a much higher percentage than the amount you have used. This helps your credit utilization ratio, which is an important part of your credit score.
   • Apply for a new credit card or request an increase on your existing credit line. Do not use the new available credit. This is another method of improving your credit utilization ratio.
3. If you have not yet established a credit history, Credit Karma’s Build Your Credit from Scratch offers some helpful tips for your situation.
   • Qualifying for and using a credit card responsibly will help you build credit. Because you don’t yet have credit, it will be difficult to get approved. However, you may be able to qualify for a retail credit card. If you’re a student with an income, a student credit card is a good option. If neither of these options apply, try a secured credit card.
   • Being added as an authorized user on the account of a close friend or family member with good credit is a great way to jump start your credit score.
4. On nerdwallet, AnishaSekar also discusses Building a Credit Score from Scratch: 4 Easy Steps for consumers and students who don’t have a credit record yet.
   • The first step is to learn the basics of FICO and how your credit score is determined, which the article concisely covers. Seker explains the contribution that payment history, debt, length of credit history, new credit and types of credit make toward your score.
   • You will then need to follow the guidelines for levelheaded credit use to establish your credit worthiness over time. These include paying on time, keeping your debt low, monitoring your credit report and other practices that make you a good risk to lenders.
   • You’ll need to know what your score is and what appears on your report.Seker steers you towards some sites that can help you with this.
   • After you have educated yourself, work on getting a credit card to start building your credit and actually putting into practice what you have learned. Your available options are likely a student card or a secured card.
5. In 7 simple ways to improve your credit scoreon Bankrate.com, Dana Dratch walks you through some tried and true methods for establishing a good credit history to boost your credit score.
   • Dratch advises you on how to keep a good debt-to-credit ratio and explains in detail the best way to shop for large ticket items on credit so that the multiple inquiries don’t affect your credit too detrimentally.
   • You should eliminate unnecessary cards, and adaptwise financial habits.
   • Don’t make the mistake of trying to eliminate old debt because it’s paid off, since this is good debt and it helps your credit score.
   • Avoid risky behavior, such as taking out cash advances, missing payments or suddenly decreasing the amounts you’re paying.
   • Find out what your credit score is and monitor it regularly.
6. If you’re a student looking to establish a credit history, Jeremy Simon of CreditCards.com offers some good advice with 10 ways students can build good credit.
   • Becoming an authorized user on your parents’ accounts is a popular method for establishing credit.
   • If you’re working, you may be able to qualify for a credit card in your own name, but do your research and select a card that is suited to your needs. For many, a secured card may be your only option at first.
   • Use your card for inexpensive, regular purchases. Avoid large expenditures. This keeps your debt-to-credit ratio low and allows you to pay your balance every month, which is a must.
   • Don’t slack off on any of your other bills, and make sensible decisions with your finances. Don’t co-sign for anyone else to help them get credit, and stick to just one credit card for yourself. Applying for multiple cards will negatively impact your credit.
   • Student loans are meant solely for your educational needs. Use the funds wisely and make timely payments.
7. On Forbes.com, 11 Ways To Raise Your Credit Score, Fast provides some excellent techniques and tips that can yield results over 30 to 60 days.
   • Start with a copy of your credit report and dispute any errors you find. Be sure to check for accuracy in your credit limit amounts. Attempt to negotiate with creditors over negative items.
   • Obtaining and using a credit card shrewdly is a good credit-building tool. Never max out your card. It’s much better if you keep your credit utilization ratio below 30 percent. If you already have a card and you’re close to the limit, ask for an increase, but do not use the additional credit line.
   • Work on getting any high balances down. It helps if you pay on them twice a month. Regardless, always pay all of your bills on time.
   • If you don’t have a balance on a card, that’s great, but do not close the card out. And don’t rely on just credit cards for a good FICO score. Different types of credit helps. Just be sure to pay on time with any other loans.
   • If you are unable to qualify for a normal credit card, a secured card is a decent option. You can also look into having someone close to you with good credit add you to his account as an authorized user.
8. Credit Sesame offers a thorough overview on secured credit cards in Build Your Credit With a Secured Credit Card. This is an accepted credit building tool for many, and this article covers all the basics well, from what a secured card is and where to get one, to what it will cost and how it works.
9. On the Simple Dollar, Trent Ham gives students some good tips in How to Safely Build Your Credit History. He counsels you on getting a card and using it wisely for specific purchases, such as textbooks. It’s essential that you pay on time and don’t use too much of your credit line. A good trick is to lock your card up so you’re not tempted to use it rashly. Once you’ve established that you can be dependable with credit, venture into other types of credit like a car loan.
10. In How to build credit if you have a small income, nerdwallet’s Lindsay Konsko assures you of your ability to have good credit even if you don’t have a fat wallet. Even with a small income, you can follow all the tips and guidelines for most consumers who are working on building a good credit history. The key is living within your means and paying all of your bills responsibly.

Before moving on to the final selection in our “Tips and Info from the Experts” series, we suggest that you make sure you haven’t missed any valuable information in the series:

• Great Benefits for Credit Card Holders: Get Tips from Ten Top Sites
• Top Fifteen Resource Sites for Researching and Comparing Credit Cards
• Top Credit Card Tips and Trends for 2015 from Those Who Know
• Authorities on Credit Cards Help you Avoid Potential Pitfalls first.
• Building Credit: Advice from 10 Experts in the Financial and Credit Card Field.

Avoiding Pitfalls in General

Avoid These 7 Pitfalls When Choosing a Credit Card on the NEA Member Benefits site is an in-depth, no-nonsense approach to selecting the right credit card for the best reasons, and provides some great pointers for avoiding some potential hazards. You need to analyze rewards programs carefully, avoid the “shiny” offers with no real substance and pay attention to fees, interest rates and introductory offer periods.

Susan Johnston delivers some helpful tips on U.S. News Money with 8 Potential Pitfalls of Credit Cards. She offers some sage advice about avoiding marketing hype when selecting your card and resisting the lure of spending just to earn points and miles. Responsibility and sound financial choices are key, from educating yourself about your card by reading all the terms and conditions carefully and paying close attention to details on your credit card statement to paying more than the minimum on time and avoiding the urge to max out your cards.

Consumers on the other side of the pond who are new to credit cards can benefit from the information offered by Kate Palmer in Pitfalls every first-time credit card applicant should know. This guide opens your eyes to some negative aspects of applying for the first time, such as higher APRs, lower card limits and dings on your credit for application rejections, but offers possible solutions for tackling these problems.

Rewards Credit Cards

In Avoid the pitfalls of rewards credit cards, Miranda Marquit identifies some common dangers associated with rewards cards programs. Some consumers can get carried away with the idea of earning points, miles or cash back through credit card spending. So it’s important to approach your rewards with a spending plan that maximizes your earnings without carrying a balance.

Jeremy Simon contributes some additional pointers to Avoid rewards credit card pitfalls on CreditCards.com. He recommends that you consider the higher APRs and annuals fees that often accompany a rewards program, and warns you about term changes down the road by your card issuers that detract from your potential rewards.

Once you understand the basics, move on toin-depth guidance in Credit Card Rewards Guide: The Basics, Pitfalls & Tips to Maximize Earnings written by Cardhub CEO Odysseas Papadimitriou. This detailed guide provides an enlightening rewards card overview and informative FAQ about selecting the right card, and alerts you to common drawbacks associated with these programs. Learn the essentials on handling earning limits, rotating categories, rewards versatility, devaluation and expiration, and rewards-based overspending.

Student Credit Cards

The University of Alabama at Birmingham wants students to avoid The Pitfalls of Credit Cards that can set a young person on the wrong financial path for many years to com. UAB counsels caution and advises students to carefully review their credit card contract. Most importantly, be aware that the credit provided is not money, but rather, a loan.

If you’re a parent considering getting your child a credit card, don’t miss Pitfalls of getting your child a credit card. Ray Martin counsels you on the safeguards you can put in place to protect yourself, such as daily spending limits. Helping your child establish a good credit record through responsible credit card usage is a worthy goal.

IRS Payments

You may be aware that the U.S. government allows you to pay your federal income taxes by credit card online, over the phone or by way of an e-filing system, but are you familiar with the downsides? Though this payment method may sound pretty convenient to a lot of taxpayers, before you commit to this option, read Should You Pay Taxes With a Credit Card? by Gail Cunningham of National Foundation for Credit Counseling, to assess the pros and cons of this option. The transaction fee can be quite costly, and a big tax bill may put your credit card provider on alert, resulting in negative changes to your terms and conditions in the future. Cunningham further cautions the impact a big tax payment charge may have on your credit, your budget and your ability to pay.

Prepaid Debit/“Credit” Cards

While these are not credit cards, in the interest of offering comprehensive information for everyone, we are including these tips from Bankrate for the many, many consumers who choose to use prepaid debit cards in lieu of cash or credit to spend billions of dollars with U.S. merchants. If you’re one of these consumers, 5 prepaid debit card pitfalls to avoid is a valuable resource with some excellent advice:

• Choose your prepaid card provider carefully. Many of these cards lack consumer protections, such as FDIC insurance.
• Be wary of unregistered debit cards. If the card is stolen or lost, you’re out the funds loaded on it.
• Look out for inactivity fees and overdraft fees.
• Being a responsible prepaid debit card user won’t help your credit score since your usage is not reported. If you need to build or repair credit, a secured card is a better option.

Use Your Spouse/Significant Other To Double Your Rewards

It’s so simple and obvious that it may not even seem like a trick, but most people never consider using their spouse or significant other to double their credit card rewards.

Originally, I only signed up credit card reward cards for myself. Then, one day the light came on and I realized my wife could apply for the very same cards I had already earned bonuses for.

Even if my wife was already an authorized user on my account, she didn’t have an account of her own so she could still apply for and qualify for the same bonuses and rewards on her very own account. This quickly doubled some of the most valuable credit card offers available today.

The first time we used this trick we ended up with a free five day Carnival cruise to the Caribbean. We both applied for the Barclaycard Arrival Plus World Elite Mastercard and earned over $1,000 in travel rewards between the two of us. However, once you start using this strategy there are a few extra things you need to consider in your rewards redemption strategies.

Beware Of Double Rewards Pitfalls

Double rewards sound pretty awesome, but you need to make sure to do everything perfect and ensure you don’t mess up along the way. There are a few pitfalls to make sure you avoid when doubling your rewards.

Minimum Spend Requirements Are Doubled

Sometimes you get so caught up in the potential rewards that you forget to consider what it takes to earn the sign up bonuses. The main qualification for sign up bonuses is the minimum spend requirements on these credit card offers.

Keep in mind that when you get two accounts, you have to complete two of these bonuses. It might make sense to apply for one card, complete the minimum spend then have your spouse apply for the second account. This spreads out the time you have to reach the minimum spend requirement. This way you aren’t faced with spending $6,000 in three months.

Redemption Gets More Complicated

When you’re only redeeming rewards on one credit card, you simply redeem all you can toward your purchases. However, when you have two separate accounts you need to make sure you’re following all of the rules to redeem all of your points.

For example, we had to plan out our redemption strategy when we used our Barclaycard Arrival miles for our Carnival cruise. In order to redeem all of our points, we had to make four separate payments on our cruise. The first two charges were for $460 on each card to use our base miles. Next, we had to each make a $46 purchase on each of our cards to redeem our carry on 10% bonus miles.

Be sure to plan out your purchases as many issuers will only let you redeem your rewards one time per purchase. You need to be very aware whether you make your purchases on your card or your spouse’s card, too, as you’ll see in the next pitfall.

You Might Not Be Able To Combined Points

If you mess up and accidentally charge your entire travel purchase on one card, you might be out of luck. Few credit card rewards programs will allow you to transfer points between spouses and that could mean you’ll be short of the amount needed to pay off your purchase. This would be a devastating mistake for someone who thought they had planned out the perfect, free vacation.

There are some instances where you can transfer points between spouses or between credit card rewards travel partners, but that’s a more advanced topic for a future article. For now, stick with learning the basics. When you’re ready, delve into the more advanced articles on this site.

Trends

Technology Advances – EMV Chips and Mobile Wallets

CNBC’s Kelli Grant spoke with Matt Shultz from CreditCards.com about changes for credit cards in 2015. Shultz spoke of EMV technology as one of the biggest impending changes, and explained that a side effect of the new technology may well be more potential for use of mobile wallets.

Mike Jelenik also discusses chip technology when revealing his picks for Best Rewards Credit Cards of 2015. Visa and MasterCard are on track to bring the new technology to U.S. shores by October this year. Apple Pay and other mobile wallet services are encroaching as well.

2015 Credit Guide’s General Credit Card Guidance for the New Year offers an easy to understand breakdown on the new technology. With some history, an explanation of the change and how the chip and pin tech will be used, you’ll be much better informed about this important development in the credit card world after this quick read.

Secure credit cards coming in 2015 by Gregory Bresiger further educates the consumer about chip technology for credit cards in the U.S.

For a more in-depth view of chip and pin cards and how they’ll heighten security, read Tom Gara’s Wall Street Journal article, October 2015: The End of the Swipe-and-Sign Credit Card. He speaks with Carolyn Balfany from MasterCard to get some enlightening answers on the switch-over.

More Security Features

In 5 Credit Card Predictions for 2015, Susan Johnston notes that heightened credit card security isn’t limited to EMV and Chip technology, citing Capital One Second Look as one example of this.

Interest Rate Hike

Curtis Arnold, founder of BestPrepaidDebitCards.com and CardRatings.com , told Grant he predicts higher interest rates in 2015 and suggests that consumers start looking for fixed rate cards if they are currently carrying a balance on their credit card. Another good option would be advantageous balance transfer offers with fixed rates set over a finite time period.

Enhanced Rewards and Benefits

Grant says NerdWallet’sDirector of Credit Cards Kevin Yuann urges consumers to take advantage of more enticing benefits this year, specifically the regular review of your credit score, extended manufacturers’ warranties and price adjustments.

Johnston discusses enhanced card benefits on U.S. News Money, such as free credit scores and better rewards offers for points and cash back credit cards.

Increase in Credit Access and Balance Transfer Offers

Johnston predicts good news for consumers looking for credit in 2015. She says the evidence points to lenders relaxing their credit standards and offering more no interest or low interest balance transfer offers.

Changes to Airline Miles/Points Programs

In Delta Pay With Miles Tickets Will Now Earn SkyMiles in 2015, the Points Guy Brian Kelly finds a silver lining amongst the largely negative changes to the Delta SkyMiles program.

Tips

• Jeanine Skowronski at Bankrate.com offers 10 tips for managing credit cards in 2015. From suggestions to be more vigilant about your credit, card security and your contract terms and conditions to making sure that you are reaping all the benefits available to you, Skowronski covers some important guidelines for the credit card consumer.
• If you enjoy traveling and use a rewards card to earn miles or points for your passion, Kelly’s Best Ways to Earn Travel Points: Get The Points Guy’s Top Tips provides some quick tips for how you can easily earn more points/miles in 2015.
• If you’re wondering whether you should get a new card in 2015, Nerdwallet’s contributor Erin El Issa has you covered in Should You Apply for a Credit Card in 2015? where she weighs the pros and cons of applying for a credit card for those without and replacing an old card for those with.
• Tasha Lockyer of NextAdvisor gets a jump on the New Year with her picks for the Best Credit Cards for 2015. Credit card issuers are poised to get in on the spirit of new beginnings with consumers looking for new cards. If you’re in the market, don’t miss this great wrap up on some top card offers.
• Business in 2015 also jumps in with a list of The Best Cards for 2015, with an informative forward about the new chip technology. The article spotlights a top card for each of seven different categories.
• If your interest is Rewards Cards, check out 10 best rewards credit cards of 2014 to review how they have performed over the past year and get the main pros and cons of each.
• The Small Business owner can benefit from Best Credit and Charge Cards for Small Businesses and Startups – Winter 2015 by Brendan Harkness. With information about business cards in general and very detailed information about Credit Card Insider’s top picks, this is a valuable resource.

1. CompareCards

This is a leading credit card resource website that believes in educating the public about finances and credit cards in a single location. The site’s comparison tool for card research uses the popular search options of card categories, issuer and level of credit and helps you choose a card based on a number of important factors.

There are some really great features that make CompareCards stand out:

• Credit Concierge – Register to access this free tool and get completely free TransUnion credit scores, tailored advice to maximize your savings and support from a dedicated credit specialist.
• The Education Center fulfills their commitment to starting financial education early with essential information targeted at our youth.
• Exceptional User Experience – The site’s comparison tool is extremely user friendly. You can easily research a specific card by selecting it from a drop down menu. Another valuable benefit is easy access to expert and consumer reviews about each card in your search results via a review link. Indeed, the entire site is focused on helping consumers in the financial and credit card arenas. The information presented is current and useful, with new articles being added on a regular basis to their blog CompareWallet. And the LiveChat feature goes the extra mile to offer excellent customer support and help you with any questions and concerns.

 

2. nerdwallet

Everything you need to make an informed decision. Nerdwallet boasts the ability to compare up to 1,714 cards. Choose what type of card you are interested in, be it Rewards, Business, Student or something else. Narrow down your choices with options such asannual fee, network preference, balance transfer fee and your credit score range. Select how you wish to sort your results and compare the available cards.

 

3. CreditCards.com

Choose from a tailored card match service that reviews your credit profile to identify cards you qualify for, or a more generic search option. To compare cards generically, search by card type, card issuer or credit quality. CreditCards.com displays information about credit cards offered by the site’s many partners, and the site seeks to offer consumers choices and variety with the right tools to make knowledgeable decisions.

 

4. CardHub

Start your search with popular category options, such as rewards, interest rates, card type and credit rating. The site offers sorting options for most results. You can also compare specific cards within category results, and review cards targeted to the business owner or college student. Additionally, CardHubgoes the extra mile and gives you a more personalized option with its Credit Card Advisor feature: answer a few questions and get a customized credit card recommendation.

 

5. Bankrate

Choose to search by issuer, card type or credit score. Your results page lets you change your options to review other card results. The site’s informative interest rates tool gives you a barometer to measure available cards against. The information provided in the card search results is concise, informative and easy to understand.

 

6. Credit.com

Credit.com offers three different search approaches for ease of use. Bear in mind, the cards displayed are limited to the website’s partners, numbering around 120. However, when used with other credit card search tool sites, it’s a helpful resource, and also offers articles, tools and other valuable information in the field of credit and credit cards.

 

7. Confused.com

Confused.com launched the UK’s first online comparison tool for insurance coverage. The website has branched out to other areas since 2002, and offers a very user-friendly credit-card comparison search engine for consumers in the UK.

 

8. Credit Card Guide

This website features comparisons of top rated credit cards offered by popular card issuers. Search by issuer, category or credit type. There’s even an “Instant Approval” category, not typically available on other search sites.

 

8. Credit Karma

Credit Karma provides information about cards offered by their partners and includes a dollar amount of your average savings with each card over a year. It also offers review links. You can search by card category, priority reason for needing a card, your credit score and certain card options. You may then further filter your results by features, reward types, network, card holder type and more.

 

10. Google – Credit Card Comparisons

Google currently compares over 200 credit cards. Search options on this search engine leader include credit rating, card category, annual fee, card issuer and card network. Access via link to terms and conditions is not available for all cards in the results. However, this tool is a good “jumping off spot,” and if you are interested in learning more about those offerings, you can review them by searching the card on other sites.

 

11. Card Ratings

If you already have any credit cards, you can look up your card and its features and see how it compares to other offerings on this website. You can also research a variety of different credit cards using the site’s comparison tool. Search by category, rating and issuer.

 

12. Get.com – Credit Cards

Search credit cards on Get.com using their many search options. Then click each card you wish to compare to use the site’s informative card comparison feature. The tool also suggests cards that may work for you based upon your search criteria.

 

13. Lowcards.com

This site has been a helpful resource, recognized by a large number of news sources and media, since July, 2000. LowCards evaluates more than 1000 credit cards regularly, and prides its team on providing objective opinions about cards available on the market to consumers in the U.S. and Canada. Information about the cards in the results is succinct, but full details are available on the site at the click of a mouse.

 

14. My Rate Plan

MyRatePlan is another veteran, launched in late 1999. The credit card section and comparison tool is one of the nine service categories covered on the site. It allows consumers to evaluate more than 100 popular cards offered by top credit card providers. Search by a several different options and narrow your results with many other choices.

 

15. CreditCards.org

This consumer-created website strives to educate in an easy to understand manner. It provides a comprehensive search tool and reviews, and edits the available card offers regularly to ensure the information is accurate and up to date.

 

16. The Points Guy

This website is an excellent resource for consumers and small business owners who use and are in the market for rewards credit cards. Research rewards cards offered by the site’s partners in different categories, such as business, airline, hotel and cash back. Each offering is given a star rating, ranging from one to five stars, and each card’s significant features are presented in an easy to read and understand format.

1. 360 degrees of Financial Literacy offers advice from certified public accountants to help consumers with their finances. Advantages and Disadvantages of Credit Cards details some helpful tips about credit card benefits and perks.
   • Credit cards are a convenient time-saver, offering purchase accessibility.
   • These are great tools for expense tracking and record-keeping.
   • Short term loans allow you to take advantage of sales when you don’t have cash available at the time
   • Cash advances provide easy cash accessibility.
   • Credit card incentive programs offer numerous perks.
   • Credit cards are a means to build or rebuild your credit.
   • Many credit card companies will advocate for you when you have a purchase dispute over a faulty product.
   • Surfing your balance to a lower interest card or one with a low intro rate saves money.
2. Information on Moneycrashers runs the gamut for all money matters, from personal money management and small business finances to the economy and economic policy.14 Best Credit Card Perks & Benefits You Never Knew You Had is a comprehensive list that covers a wide array of first-rate benefits and advantages you can enjoy with various credit cards.
   • Entertainment incentives are wide-ranging, from presale promos to elusive event tickets. Citi Private Pass offers perks in live music, family entertainment, sporting events, dining and more.
   • Purchase presale event tickets with your credit card and enjoy preferred seating at the show/game/concert. Gold Card Events is key to some exclusive offers for American Express Gold and Platinum card holders.
   • Following in the entertainment vein, you can enjoy great discounts on popular attractions, such as theme and amusement parks, museums, aquariums and zoos through your credit card programs. Bank of America is a good example of this with its Museums on Us
   • Enjoy exclusive retail store discounts made possible through the relationship your card issuer has established with some popular retailers.
   • Additional shopping benefits: price, return and fraud protection, and dispute resolution.
   • Travel benefits: car rental insurance; baggage protection; roadside assistance; trip cancellation insurance; hotel room burglary insurance; and reasonable exchange rates with set foreign transaction fees.
3. Investopedia is full of valuable information on money matters. Surprising Credit Card Benefitsby Amy Fontinellefurther enlightens credit card users to beneficial ways to use their cards, highlighting some features specific to different card providers.
   • Get protection for orders that aren’t fulfilled through chargebacks. Your credit card company will reimburse you and go after the company that failed to deliver.
   • Get more time to obtain a refund with extended return policies.
   • Visa and MasterCard double the manufacturer warranty (up to a year) on products you purchase with your card.
   • Save time and effort with price protection. This feature gives you the benefit of comparison shopping without the added hassle. Visa and MasterCard give you 60 days to find the same product at a substantially lower price.
   • There are no cash advance fees with Discover through their Cash Over program – up to $120 cash back per day.
   • More price protection with the ever fluctuating airline ticket prices can make a big difference for your wallet.
   • AmEx, Visa, M/C and Discover all have various damage and theft protection coverage options in place.
4. Creditcards.com offers an astounding amount of useful information to the consumer about most credit cards offerings. Benefits of using a credit cardby Jeremy Simon gives users more insight on this topic.
   • Credit cards offer convenience over cash or checks.
   • Unlike debit cards, you won’t be hindered by a daily “charging” limit.
   • They’re an excellent budgeting tool.
   • Credit cards are good for credit building.
   • Grace periods give you additional time to pay off your debt.
   • Purchase protection and extended warranties give added protection.
   • Theft protection against charges made on your card if it’s stolen is a valuable feature.
5. Money Supermarket, a UK website, is a great resource for finance and savings in a wide range of spending areas, from travel to shopping, insurance and financial instruments. Clare Francis is the Editor-in-chief and her article, The advantages and disadvantages of credit cards gives you some concise and helpful information.
   • Credit cards allow you to pay for large purchases over time, a method of quickly borrowing so that you can acquire something you need right away. For example, if a large appliance stops working, you may not have the funds to replace this vital item, but a credit card can save the day.
   • Many new offers support free borrowing for a limited time. Credit cards often offer no interest charges on your purchases over an introductory time period.
   • Pay down balances. Transfer a balance from your high interest credit card to a new card with a 0% introductory interest rate and use the intro period to pay down your balance without incurring interest.
   • Purchases you make with your card typically come with additional consumer protections.
6. Practical Money Skills seeks to help students and consumers understand personal finance, through information, articles, games and teaching tools. Credit Pros and Cons is a brief look at a few benefits and detriments of credit card use.
   • Get immediate access to necessities you might not otherwise be able to purchase.
   • Credit card security features far outweigh carrying and using cash.
   • Checks are less acceptable and more time consuming.
   • Paying with a credit card lets you consolidate your bills.
   • Loyalty and rewards programs offer additional benefits, such as free travel.
7. Go Banking Rates focuses on financial services interest rates, personal finance news, tools and other useful content. This national site for financial news spotlights a small sampling of popular credit card advantages with 3 Credit Card Benefits You’re Paying For But Not Using by Luke Landes.
   • Some credit cards help ensure you never pay too much for an item through purchase price protection. Get a refund if you find the item for a lower price later, typically within about one or two months.
   • Many American Express cards will cover a product purchased with their card for 90 days against theft and accidental damage. Check with your card provider to find out if any of your card purchases come with automatic purchase protection.
   • Manufacture warranties are fairly limited, but several card providers will extend or even double these when the product is purchased with your credit card. Moreover, it’s often easier to submit a warranty repair through your card provider than through the product manufacturer.
8. Free FromBroke is the brainchild of Glen Craig, who once struggled every paycheck. Craig turned around his financial situation and now helps others do the same.Credit Card Benefits joins our list with some tried and true benefits, as well as some additional helpful hidden nuggets.
   • As noted on other sites, popular credit card benefits include convenience, a means to help build your credit score, good tool for tracking your spending, and they often come with consumer tools like price protection, car rental insurance and extended warranties.
   • Paying for your purchases is a breeze when you set up a dedicated bank account for this purpose. This also helps with budgeting.
   • Earn money with zero interest rate credit card offers. Use what you save on your no-interest payments to open a high yield savings account and deposit these savings every month while the 0% rate applies.
   • Rewards points and cash back can be transferred to savings and additional purchasing power with gift certificates and travel rewards.
   • Travelers can reap additional rewards with airline miles.
   • Many card providers work harder to stand out by offering exclusive programs for their cardholders. Examples include steep discounts on things like products, highly sought after concert tickets and free magazine offers.
   • Concierge service is a nice perk for some of the higher fee, high-status credit cards.
9. RamitSethi is a leading author in the field of personal finance. He describes Credit Card Perks and Benefits that consumers should be aware of. He explains that credit cards should offer benefits worth about $1,000. These include the following:
   • Extended warranties at no cost,
   • Car Rental and Collision insurance, and
   • Trip cancellation insurance.
10. Wisebread targets wise spending, good financial decisions and living on a budget, while still enjoying life. A community of writers contribute a number of helpful blogs on several money topics like life hacks and best deals. 5 Credit Card Benefits Every College Student Must Have by Christa Avampado offers some good credit card information targeted at students.
    • A card with a small credit line that allows for future increases is a good start for the novice credit card user.
    • A card offering fraud protection that is step above the typical coverage is a valuable tool for students. Some cards offer programs that monitor your card activity to identify suspicious and fraudulent purchases in real time.
    • Get text or email alerts regarding your balance limit and due date.
    • Roadside assistance is a great advantage when you’re far from home or your vehicle is a later model.
    • Flexible cash back rewards allow you to access money more easily when you really need it.

Is Credit Card Churning Bad? One Card Once In A While

I am perfectly happy signing up for a new card every once in a while and receiving a nice spend bonus. If the card makes sense for me, I’ll keep it. If not, I’ll look for a different card that will meet my needs. You can still get a ton of value out of certain cards but you have to know which ones to look for.

Churning Barclaycard credit card can be tempting because they have some good deals. The Barcalycard Arrival Plus card is one of my favorite cards right now because it offers a 40,000 point sign-up bonus and it gives you 2% back on ALL purchases. There is an $89 annual fee but that can be offset by the 2% cash back compared to the standard 1% cash back on other cards. But is credit card churning bad?

Don’t Ding Your Credit Score

When it comes to credit card churning the effect on credit score can be a problem. Most ‘credit card churners’ like to talk about all the success they’ve had but they often ignore the negative impact that churning can have. The biggest negative, in my opinion, is the hit to your credit score that opening up multiple cards can have. Every time you open up a new card, your credit score will take a slight hit due to the fact that you now have one more credit inquiry and since that card is brand new, it will lower the average age of your accounts.

If you were to keep that card for a long time, it would eventually recoup that initial credit score hit (since inquiries fall off your report after two years) and then some since your average age would increase as the card got older, having another card would add to the overall number of accounts (the more, the better) and the utilization portion of your score would go up (more available credit helps your score).

But when you open a card and cancel it within 1 or even 2 years, this can have a big impact since even though that account is closed, it will still bring down your average card age for the next 7 years! That is one of the reasons why you want to do your best to find cards that make sense for the long haul and why the answer to, “Is credit card churning bad?” can be “Yes.”

Blacklisted By Your Bank

The last thing that credit card churners don’t like to talk about is being blacklisted by your bank. Credit card companies are able to offer such good incentives for signing up for a new card but if everyone were to churn cards it wouldn’t be financially possible to continue this practice.

I’ve seen reports of multiple banks closing cards and denying future apps for serial credit card churners. So not only will you run the risk of being denied for a credit card but you could lose a valuable banking relationship indefinitely if you get caught churning. When it comes to credit card churning risks are involved.

So, does credit card churning hurt your credit? Yes, it can. I know this would be a big deal for me since I have my business checking account with Chase and my mortgage with them too. So if you’re going to take advantage of these great offers, as with anything in life, remember that moderation is the key.

Barclaycard Arrival Benefits: Free TripIt Pro Subscription

On the surface, TripIt Pro is known for managing all of your travel reservations but it actually does so much more. I use it to track everything from hotels and reservations to flights and rental cars. It will even help you pick the best seat on your flight and send you 24 hour check-in reminders by e-mail and/or text.

TripIt Pro also automatically categorizes your travel plans into logical trips and since it’s linked to your e-mail it will auto-import new itineraries and reservations as soon as they come in. Normally you would have to pay for all of these premium features, but as an Arrival or Arrival Plus cardholder you actually get them for free.

Free FICO Score – All Cards

In the past, I was content using sites like Credit Karma that provided a ‘FAKO score’ but whenever I compared it to my actual FICO score, there would always be a wild difference. If you want to see your true FICO score, you will generally have to pay for it. But Barclaycard recently added a Free FICO score feature on all of its cards. It updates once a month and it’s the same score that lenders and banks will use when they pull your credit.

Chip & PIN

If you travel to Europe often, you know that nearly every card over there is what’s known as a Chip & PIN card. Some merchants take regular old credit cards but a lot of them actually require a Chip & PIN now. You’ll especially need a Chip & PIN card if you try to buy anything at automated kiosks like those at a train station for example.

The Arrival and Arrival Plus recently switched to this new format and coupled with no international transaction fees, that makes it a no brainer to take with you when you’re traveling abroad.

2% Cash Back on All Purchases

We all know that the standard cash back rate for most credit cards is 1% or 1 point per $1 spent. It’s nice to get that cash back, but it will often take a lot of spending before you build up a significant amount of points. The Barclaycard Arrival Plus card changes all that though since you get 2% back on every single purchase!

A lot of other reward cards limit 2% back to certain categories like groceries or gas but not the Arrival Plus. Cashing in the points is pretty easy too since you can redeem them against any travel charge over $25.

10% Miles Redemption Bonus

With the Barclaycard Arrival benefits just keep coming. Barclaycards is also one of the only card programs that offers you a bonus when you spend the miles in your account. Any time you redeem your miles for a statement credit, you’ll get an additional 10% bonus, bringing your effective cash back to just over 2.2%.

Reward Boost Online Shopping Portal

Many people might not realize that Barclaycards has one of the top online shopping portals around. Here’s how it works: any time you need to make a purchase online, just log onto their shopping portal and see what kind of cash back incentives the portal offers. By starting in the shopping portal you can get additional savings on purchases you would have made anyways.

Each Barclaycard has its own shopping portal but the Reward Boost Online Portal is specific to the Arrival Plus and the Arrival card.

Great Customer Service

Barclaycard Arrival benefits also include service; one of the things that’s been most surprising to me is the awesome customer service Barclaycard provides. I’ve opened two separate cards with Barclaycard now and both times their agents have been a pleasure to deal with.

You also have the option to send them an e-mail from your dashboard and they should respond within 24 hours. For faster service, you could also try contacting them on social media. They have an extensive team on Twitter waiting and ready to answer any questions you may have. Finally, the Barclaycard also gives you options. Wondering about the Barclay arrival fee vs no fee card? The fee is there for a reason, because often a card with a fee offers better cash back or other benefits, so compare both cards and make an educated choice.

Barclaycard Arrival vs. Arrival Plus: Which Card Is Right For Me?

If you’ve decided that you need to add a fixed value card to your arsenal, now you need to figure out which card is right for your situation. Both cards offer no foreign transaction fees and like we already mentioned, redeeming points is very straightforward with both cards.

The biggest difference between the two cards probably lies with the annual fee. The Arrival Plus has an annual fee of $89/year (the first year is waived however) while the Arrival has no fee. The reason why the former has the higher fee is two-fold: it offers a higher sign-up bonus at 40,000 points compared to just 20,000 with the Arrival and it get 2 miles back per dollar spent on every purchase while the Arrival only gets 2 miles back per dollar on travel and dining purchases and 1 mile per dollar on everything else.

Is The Fee Right For Me?

One difference in Barclaycard Arrival vs. Arrival Plus is fees: should you choose Barclaycard arrival fee vs no fee? Generally I try to avoid paying annual fees but since the Arrival Plus is one of the only cards to offer 2% back on every purchase, it could be worth it depending on your situation. Remember, the annual fee is there for a reason. It has to make up for all of the better benefits that the Arrival Plus card offers.

Barclaycard Arrival vs. Arrival Plus: Arrival Plus Offers a Higher Sign-Up Bonus

The first one of those better benefits is an increased sign-up bonus. The Arrival Plus has a sign-up bonus that is 20,000 points higher than the Arrival. And that 20,000 point difference is worth about $200. So by opting for the Arrival Plus over the Arrival you are really getting the card free for three whole years (remember the first year annual fee is waived).

Barclaycard Arrival vs. Arrival Plus: How Much Do You Spend?

It might be tempting to open the Arrival Plus to score the higher bonus and then cancel the card once the annual fee comes up but remember that could have a negative impact on your credit score. Instead, you want to look for ways that the Arrival Plus could actually pay for itself. One of the best ways is to figure out how much you spend.

Since the fee is $89, we know that in order to break-even on the fee you need to spend more than $8,900 in a single year. Here’s how the math works out: if you spend $8,900 per year that would give you an extra $89 in cash back with the Arrival Plus card compared to the Arrival. Most people definitely spend over $742 ($8,900/12 months) per month on their credit cards so you will likely come out ahead by opting for the Arrival Plus card.