With any trip, even Some travel-focused credit cards know this, and offer benefits for cardholders to wipe out some of those extra travel costs. While you’re not likely to be able to suddenly travel around the globe for free, it never hurts to get a freebie to make up for some of those expenses. Advertisement Of course, there’s a trade-off. Most of the cards that offer reimbursement of some sort also charge annual fees. But as you’ll see from these examples, you might find enough value in the perks to justify the fee. Chase Sapphire Reserve Chase Sapphire Reserve softens the blow of its $450 annual fee by offering a $300 annual travel credit. The card automatically reimburses travel purchases charged to your card. It resets on your card anniversary date. Applicable travel purchases include airlines, hotels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, and campgrounds. In addition, purchases related to travel by train, … [Read more...] about The Credit Cards That Go Beyond Rewards to Cover Travel Costs
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Is there such a thing as having too many credit cards? With so many cards offering enticing rewards and sign-up bonuses, you may be tempted to apply for one or two or more. But if you already have a few credit cards, you might be worried about overdoing it. There really isn’t a magic number of credit cards everyone should have. More credit cards could actually boost your credit score, which is important for getting loans, saving on insurance rates, and even getting a job. Having multiple cards can also be more risky. On the other hand, not having enough credit history can set you back. Here’s what you need to know. Advertisement The total number of credit cards you have doesn’t greatly affect your credit score When the credit bureaus calculate your credit score, the number of credit cards you have is actually only a minor part of the equation. As Investopedia explains [emphasis mine]: Your payment history makes up 35% of your FICO score, while your total … [Read more...] about How Many Credit Cards Should You Have?
Issuance of a credit card marks the entry into the world of credit for most millennials. The journey that starts with a credit card generally peaks when one opts for a home loan, thanks to sky-high home prices. Obtaining a home loan at an attractive rate is a task for many. But they forget that if one uses a credit card prudently, it can help strike a better home loan deal. Here is how it works.Lenders prefer to offer home loans to individuals that have a credit score in excess of 750. This score is not built overnight. If a borrower has been repaying the loan on time, it can help build a credit score over a period of time. Here is how your credit card usage aids in building a credit score and obtain a home loan at an attractive rate of interest.Timely repayment of outstandingCredit cards allow you to access funds without interest for a stipulated period of time, if you pay the entire bill before the due date. “Failure to pay the bill in full attracts interest but also harms … [Read more...] about Here’s how to use your credit card to avail better terms on a home loan
The home loan is the biggest liability one takes in his/her lifetime. Getting it right is a must as it helps you in achieving your dream of owning your house with minimal trouble. Borrowing money is a big task and the first exposure to credit for many comes through the use of credit cards. Here are three mistakes associated with credit card usage that you must avoid if you intend to apply for a home loan.Defaulting on your credit card billThis could be the worst possible thing that can happen to you. If you default paying the credit card bill, it will show that you do not have money to even service your short-term liabilities. When you are going to apply for a large loan such as home loan even a ‘I simply forgot to pay’ can cost you dear. The credit officer may simply choose to play safe and deny you home loan.Close “Do pay your entire bill outstanding before the due date,” says Sukanya Kumar, founder and CEO of RetailLending.com. Timely payment of your … [Read more...] about Three credit card mistakes you must avoid before applying for home loan
In tough times, more Americans are making sure that the gifts they put under the Christmas tree this season are paid in full. Millions of Americans have cut up their credit cards since last year's holiday shopping season, meaning that this year, many are headed to the mall with cash in hand. According to the credit bureau TransUnion, 8 million Americans have stopped using credit cards since the the third quarter of 2009. 78 million consumers either don't have access to a general purpose credit card or choose not to use one. Want to avoid credit card offers? Call 1-888-567-8688 to opt out. While some of the change in behavior is likely because credit card companies have severely clamped down on the availability of credit, there are also signs that some Americans are changing their ways. According to TransUnion's analysis, consumers on the whole are making "significant efforts" to use credit cards in a financially healthy way. For Dawn Salters, from Brandon, Miss., that means … [Read more...] about Holiday Shopping: Americans Cut Back on Credit Card Use