Discover® More® Card

The Discover More Card offers bonus-saving categories that change every three months. Cardholders can opt-in to earn 5% cash back on up to $1,500 in purchases by calling or visiting their website. Through June 2012 for example, bonuses are paid on restaurant and movie theater purchases. However, as an added incentive, Discover is offering 5% on groceries through the end of May. In addition, a new perk for Discover cardholders is a double cash back bonus during their birthday month. The Celebrate Your Birthday promotion applies to up to $500 in purchases, but not to those that qualify for the 5% bonus for that quarter. This card also offers 1% cash back on all other purchases, and an introductory 0% APR for 15 months.

Blue Sky from American Express®

For frequent travelers, the American Express Blue Sky and Blue Sky Preferred cards are awarding bonuses of up to $200 toward eligible purchases that include airfare, hotel reservations and automobile rentals. Spend $1,000 within the first three months of opening the account to earn 7,500 or 15,000 respectively, redeemable for a $100 or $200 statement credit. The Blue Sky cardholders will earn one point per dollar spent with no annual fee; while Preferred cardholders earn double points for dining, hotel, and car rental expenditures, but it charges a $75 annual fee. Both cards offer 0% on purchases for the first 12 months.

Citi Forward® Card

New Citi Forward cardholders have the opportunity to earn up to 10,000 points that may be redeemed for $100 in gift cards through Citi’sThankYou network. You only need to spend $650 within the first three months of opening your account to earn 9,000 points. Sign up for electronic statements (again, within three months) for another 1,000 bonus points. Another interesting bonus for Citi Forward customers is the 100 points earned for each on-time payment. Citi also offers the opportunity to reduce your interest rate, if you make on-time payments for three consecutive months. Citi Forward offers 0% on purchases for the first seven months and 0% on balance transfers for 12 months.

PLEASE NOTE: These are just a few of the credit card deals listed at ASAPCreditCard.com. Be sure to shop around and compare before you decide on the best offer for you…

The academic paper, Financial Literacy and Credit Cards: A Multi Campus Survey, surveyed 725 American university students and found that 70% carry a credit card. Of those students, ninety percent carried a balance each month and more than a third had two or more cards. Student debt more than quadrupled between 2004 and 2009, and even more disturbing is that most students do not have the financial literacy to know to use credit wisely, including lack of knowledge in the following basic areas:

• Interest rate (84%)
• Penalty or late payment charges (75%)
• Over draft fees (70%)

Considering the fact that those surveyed are the young business minds that we look to guide us in the upcoming years, financial literacy can only be viewed as dismal for the future. The days of easy credit and student loans have resulted in a disastrous amount to debt for those hoping to enter the work force. To add insult to injury, according to recent reports, the majority of these students will also experience an uphill battle finding employment, while carrying a heavy burden of student credit card and loan debt.

Some financial experts see credit cards as a greater threat on campus than alcohol or sexually transmitted disease. The debt ramifications will be a generation drowning in debt before they even venture out on their own.

“The result may also explain part of our national problem with credit,” the study said. “If our college students do not understand credit costs, what can we expect from the larger portion of our society without a college education? It should serve as a wake-up call for both our students and our college outreach efforts into the community to train people about the costs of credit. It is clear the status quo of financial literacy is a failure.”

With younger students more likely to use credit cards than older students, it stands to reason that this is one case where education would be a big deterant in offsetting the real potential for long-term financial troubles.

Financial literacy should be taught beginning in elementary school and continue until a clear understanding of the ramifications are understood. In addition, the value of saving for the future or setting up a retirement account should be a part of the curriculum, especially with the fragile nature of the federal social security system.

* Be sure to see a complete list of our top credit card picks.

It wasn’t that long ago that cash was king and the safest way to handle your money while traveling meant purchasing travelers checks. Sold by banks and financial institutions, the purchaser had to sign when buying the checks and again when using the check to purchase goods or services. While this is still a viable option today, credit and debit cards offer a safer amd more convenient way to access the funds you need.

Choices When Traveling

• Credit – Offering the most protection when traveling, credit cards offer many travel and insurance benefits and extended warranties. Travel agents suggest carrying more than one card, in case one gets lost or stolen.
• Debit – Bring a PIN-protected debit card, especially if you’re traveling to Europe. Many foreign countries have switched to a non-magnetic stripe system that may make it hard to use your credit cards at some locations like train stations, toll-roads, gasoline stations and automated payment kiosks.
• Cash – Have a small amount of currency, both foreign and U.S. money. It’s much easier to pay for small items and tip for services with cash and may be necessary if you plan to use a taxi to get around.
• Travelers Checks – Travelers checks are secure, easy to replace and always can be cashed back home, if you don’t use them all. But not all merchants accept them.

Another consideration for anyone who travels is what charges may apply when using credit or debit cards. While many cards have dropped their fees for foreign travel, some continue to charge up to 3 percent on foreign purchases; you want to know this upfront. Also, ask your bank if your debit or credit card is subject to daily spending or withdrawal restrictions while abroad. Some financial institutions put a cap on the amount of credit that can be used each day or the amount of cash that can be withdrawn in a day.

Become familiar with the currency of the countries you’ll be visiting. Knowing the conversion rate will help you decide which form of payment is the best. Some merchants will offer to convert your dollars for a fee, called dynamic conversion, an added expense.

Before You Leave Town

It’s best to be prepared with a mixed source of payment methods when traveling – credit, debit, checks and cash. Only carry what you need and leave the rest at home.

No matter where you travel, if you’ll be using a debit or credit card, let the issuing bank know of your plans. Issuers use sophisticated programs to spot abnormal activity on customer accounts to help prevent fraud and theft. If there are suspicious transactions posted in another part of the country or world, they’ll put a freeze on your account. So let them know where you’ll be visiting to prevent the hassle of a frozen account.

Take a moment to write down all of your account numbers and contact information and keep it in a safe place. If your card gets lost or stolen, you’ll be able to contact the company immediately to freeze your account and get a replacement card.

* Looking for travel rewards? See a complete list of travel reward credit cards.

An easy strategy to keep your accounts safe is to keep detailed records of all your account numbers and contact information. If it becomes necessary to contact the credit card issuer, having this data readily available will expedite the resolution of any problems. Many concerns can be resolved with a simple phone call, but some threats can be more serious.

Security Warnings

1. Unauthorized charges on monthly your statement
2. Lost or stolen credit card
3. Purchase is denied for no discernible reason
4. Error on monthly statement
5. Discrepancy on your credit report

Situations like these may simply be errors by the issuer or credit reporting agency. But if they’re not, there’s a high probability that your account has been hacked or you’re a victim of identity theft. Contact the appropriate banking or financial institutions as soon as you become aware of a potential threat; they will begin an investigation immediately, place a hold on your account and report back to you about their findings.

Subverting a Thief

Protecting against attempts to steal your credit card information requires an understanding of the potential areas of vulnerability. All a hacker needs is your account number and they can easily make a fake credit card. If they gain access to a social security number, password and/or security code associated with the credit card account, they can do a tremendous amount of damage stealing your assets, racking up credit card debt, opening new accounts, etc. – a horrible situation that could take months to clear up.

Don’t wait to do damage control until after your accounts have been hacked. You’ll spend months dealing with the frustration of closing accounts, waiting for new ones to be issued and generally working to clear your good name. Begin today and make it more difficult for a crook to steal what’s yours by keeping your credit card accounts secure:

• Be hyper-diligent to protect account details, i.e. account number, password, card security code, etc.
• Watch for suspicious charges on your accounts.
• Don’t allow your computer, browser or phone app to store account details.
• Review your credit report for inaccuracies.

Getting Back on Track

If, even after all you’re vigilance, you find that you’ve been targeted by a hacker, take quick action by reporting it to your credit card issuer immediately. The issuer will close your account and reissue a new credit card with a different account number. You have the right to dispute credit card billing errors, but you have to do it within 60 days of the billing statement with the error, and it must be in writing. Luckily, you’ll only be liable for up to $50 of the charges made on your credit card before you reported it lost or stolen.

Credit bureaus maintain your credit report and are the first one’s you should contact if you spot an error due to fraud or identity theft. But you also have the right to dispute errors directly with your credit card issuer. When a dispute with the credit bureau is unsuccessful, you can try to handle it with the credit card issuer who reported the error.

If all else fails, send a complaint to the Consumer Financial Protection Bureau, a government agency that enforces credit card and financial regulations. They may be able to help if your bank or credit card issuer is breaking the law.

* Visit ASAPCreditCard.com for the best low apr credit cards.

And the winner is…

The FINRA Investor Education Foundation recently released a study that shows that women are more likely to engage in costly credit card behaviors than men. Findings included:

“For women, having a high level of financial literacy appears to pay off,” said FINRA Foundation President Gerri Walsh. “The gender gap for costly credit card behaviors disappears for women with high levels of financial literacy.”

Surprising to some experts, the report also found that women pay about half a percentage point more in credit card interest rates than men, regardless of financial literacy.

Family Dynamics

Although women lag men when it comes to avoiding costly credit card behavior, women tend to have higher credit scores than men and hold less overall debt. While women carry more credit cards, men tend to carry more car loans, mortgages, and installment plans. These dynamics may be caused by traditional family structures where women are the designated shoppers of the household, while men handle the larger purchases such as cars and homes. This dynamic means that women buy more for personal and family use, buy things on sale, and shop more impulsively. Men tend to buy more for investment purposes.

Although family structure definitely plays a role in the findings, women should take note. By avoiding large credit card balances and late fees, you’ll save you (and your family) money, which can be saved — or used for things you really enjoy — like more shopping

* Be sure to compare all the best credit cards at ASAPCreditCard.com.

Understand Redemption Rules & Deadlines

With many frequent flyer programs, you need to use your miles before the redemption deadline (normally between 12 and 36 months). But there may be ways to extend the life of your miles, alternative redemption options – or ways avoid deadlines altogether. Start by reading the terms and conditions of your account for specific details about your reward program.

In some cases, you may not have a redemption deadline at all. For example, miles never expire with the Capital One® VentureOne^SM Rewards Credit Card.

Although most frequent flyer programs don’t provide this perk, most do offer ways to save, share, earn, transfer and extend the life of your reward miles. Below you’ll find some examples of frequent flyer programs that provide flexible ways to use and preserve your benefits. 

AAdvantage® Visa Signature® Card – Buy and Share

• Purchase the miles that you need or for loved ones. Earn 30% bonus miles when you purchase 20,000 miles or more through May 31, 2012.
• AAdvantage® members can transfer miles between accounts. Share your miles or ask a friend or family member to share miles with you.
• Reactivate some or all the miles that have expired through December 31, 2012.

United MileagePlus® Explorer Card – Buy, Transfer, Give

• Buy miles or give miles to family members or friends as a gift.
• Turn gift cards from over 85 name brand retailers into award miles for gift cards you don’t want or a balance remaining you can’t use.
• Transfer miles from one Mileage Plus account to another.
• Mileage Plus® Reward Miles^SM for business – reward your customers and employees with miles.
• Reinstatement some or all of your expired miles and redeem them for award travel.
• Increase miles faster by purchasing award miles with Award Accelerator®.
• Hotel partners,including Hilton HHonors, Marriott Rewards and Starwood Preferred Guest, allow members to convert hotel points to Mileage Plus award miles.*
• Donate your miles and help people in need.

Delta Airlines – Gold Delta SkyMiles® Credit Card - Buy & Transfer Miles

• Buy yourself miles for travel or upgrades; give as employee incentives or client gifts.
• Transfer Miles – Transfer miles to another Sky Miles member.
• Award Builder – Get more miles on your next round-trip, Delta marketed flight.
• Sky Miles Incentives – Give miles as client gifts or employee rewards.

Shop to Extend Rewards

Most travel reward programs offer shopping opportunities to earn more miles. If you have no way to use or transfer your miles, it may be worth shopping at the airline’s online mall to earn additional miles and show activity on your frequent flyer mile account. In most cases, even one purchase resets the counter and will extend the life of your miles.

To take full advantage of the benefits, it’s important to understand the details of your account. Since terms can change without notice, be sure to contact a customer service agent if you have questions about your frequent flyer mile program.

* See a complete list of our best airline reward credit cards.

Hackers gained access through the one of the biggest, third-party processing firms, Global Payments. The data breach affected 1.5 million Visa and MasterCard accounts, and although no cardholder names, addresses or SSNs were stolen, account numbers are the only thing needed to make counterfeit cards. More about fake credit cards…

Consumers who have compromised accounts put in countless hours attempting to correct the situation, which is part of the reason for the economic price tag estimated to be in the billions of dollars. Global Payments processed more than $167 billion worth of transactions in its last fiscal year, making it easy to see the degree of damage that can be incurred from a breach.

One telling statistic reported by Javelin Strategy & Research is that consumers who are part of a breach are six times more likely to be a victim of fraud or identity theft, making it even more vital that you safeguard your personal information. If you suspect that your credit card data has been compromised in any way, immediately contact your credit card issuer. If the issuer believes your account is vulnerable, they will contact you. Here are some steps consumers can take to be proactive about their own security.

Being More Vigilant

• Monthly Statements – The first sign of trouble may simply be a small unauthorized charge on your credit card bill. That’s why strict attention should be paid to all transactions to be sure they were made by the account holder. In addition, not receiving your statement on time may be a red flag that something isn’t right. Contact your credit card company, as soon as you spot a problem, making it clear that this is more than just a dispute and that you suspect fraud. They will begin an investigation about the questionable purchase and report back to you wih their findings.
• Credit Reports – You also need to pay close attention to your credit report. Monitor each from the three national credit reporting agencies, Equifax, Experian and TransUnion, by requesting a credit report whenever you suspect a problem. Reports can be obtained for free once per year at www.annualcreditreport.com.

Activate Protection Services

• Fraud Alert – Placing a fraud alert on your credit report will notify lenders that your account is potentially compromised. Opening a new account will require a greater degree of scrutiny to insure it’s a legitimate application. The lender will contact you by phone to verify that you really want to open a new account. When it’s safe to remove a fraud alert, you’ll need to request it in writing.
• Credit Freeze – A more aggressive option than a fraud alert is a credit freeze. No account activity will be allowed so long as the freeze is in place, including third-party access to your credit report, making it unlikely that an identity thief would be able to open an account in your name. Check with your state for the laws that apply.
  

Update Computer Security

One thing that many people neglect is their own computers. Ignore browser and security software updates and you’re allowing greater access to thieves. Set up security software to allow notifications of updates and respond immediately. If you don’t have anti-virus software, get it; if you do, make sure it’s up-to-date.

In the event you become a victim, your credit card company will cancel the compromised account and issue a new one. Under the Fair Credit Billing Act, which protects consumers in the case of credit card fraud, federal law limits liability for fraudulent charges to $50, unless the card is not presented in the actual transaction — i.e., the card number is stolen and used online — then cardholders aren’t responsible for any fraudulent charges. In addition, the robust zero liability policies of both Visa and MasterCard insure that you won’t be held responsible for any fraudulent charges as a result of the breach.

* See a complete list of our top credit card offers.

Non-Reward Card Volume Up

According Mintel Comperemedia, direct mail offers for plain-vanilla credit cards, cards that boast no annual fee or reward program, have risen dramatically. They made up 30% of mail volume in the fourth quarter of 2011, an impressive rise from 13% in 2010.

The simplicity of non-reward cards is appealing to many consumers, especially since non-reward cards tend to have lower fees and interest rates. And by eliminating costly reward programs, issuers can take a bigger risk by approving applicants that may have been turned down in the past. According to Mintel, low-introductory rates of up to 21 months for balance transfers have also been more common – another advantage for consumers.

The Best ’Plain-Vanilla’ Offers

Here are a few of the best non-reward credit cards on the market:

• Citi Simplicity® Card - Citigroup, the world’s largest financial services network, chose a befitting name for this card. As with all plain-vanilla offers, there is no annual fee and the card boasts no late fees or penalty rates. Plus, enjoy a 0% introductory  APR on purchases and balance transfers for 18 months.
• Slate® from Chase is a great offer for anyone looking for a no-frills, non-reward credit card. The Chase Slate card has no annual fee and a 0% APR on purchases and balance transfers for 15 months. Transfer your higher rate balances during the first 30 days of opening your account and pay no balance transfer fee.
•  Capital One® MasterCard® is a no bells and whistles offer designed for people of varying levels of credit. Get pre-qualified in 60 seconds without affecting your credit score to determine the terms, interest rates and any potential fees.

These are just a few of the no-frills credit cards available to consumers. A limited or non-reward card may not appeal to everyone, but for those who want access to credit without the complications (or added fees) of a rewards card, a plain-vanilla offer may be right for you…

For more no-frills and non-reward offers, see our low interest credit cards.

Confusion in the Numbers

There’s no doubt that credit cards can be a problem for some consumers, but what doesn’t
get reported by major media outlets is the fact that most people use their credit cards responsibly — or they don’t use them at all. Headlines that mention average American credit card debt at $10,000-$20,000 are only referring to the debt levels of people who actually carry a balance from month-to-month, not the general population.

As painful as it was, the credit crisis has improved the numbers even further. Default rates have decreased dramatically since the crisis began and many people have paid off their cards completely or cancelled their accounts. New banking regulations have forced banks to drop riskier borrowers, further improving the remaining credit pool.

Debt Problems Not an Issue

So for the vast majority of Americans, credit card debt in not an issue. Either they don’t use credit cards, or they payoff their balances in full each month.

The real problem lies with the 37% who carry a balance each month. But could these borrowers be acting responsibly? According to MyFico.com, the typical consumer has access to around $19,000 from all their credit cards combined. But half are using less than 30 percent of their total credit card limits. And according to TransUnion, only about 0.78% of cardholders were late this year, compared to 2% during the recession.

It’s safe to assume that only a small percentage of consumers have a real problem with credit card debt. But this fact is often left out of major news stories that mention rising debt levels or increasing default rates. Although these numbers can be alarming and definitely signal a problem for some consumers, it’s important to remember that the vast majority of people act responsibly with their credit cards. Unfortunately, it’s usually the negative data that gets reported and this can skew people’s views about the benefits of using credit cards.

* Be sure to visit ASAPCreditCard.com for all the top credit card offers.

Consumers with excellent credit, typically those with a credit score of 650 or more, can quickly access an unsecured line of credit. Those with less than perfect credit may also have quick access to credit, but expect higher interest rates and additional fees. And prepaid cards are an instant option that almost anyone can consider. In most cases, the approval process is cut to just a few minutes; however, the time it will take before you can actually use your account may take up to ten days, when the card arrives by mail.

In most cases, credit card issuers cannot guarantee an ‘instant approval’. Because of this, most offers are not designated exclusively as instant approval credit cards. Even though they may not be displayed as ‘instant approval’ offers, most people will recieve a response within just a few minutes. Here are a few of the best offers for those with good credit.

• Capital One® Platinum Prestige Credit Card is one of our top cards offering 0% intro APR until June 2013 and a competitive low interest rate.
• Another great offer, the Capital One® VentureOne Rewards Card, includes a 0% APR
  on purchases until March 2013. Anyone looking to earn travel rewards will appreciate the 1.25 miles per dollar on every purchase, every day that can be redeemed for airline tickets, hotel rooms, car rentals and more.

* Instant approvals are not guaranteed with the offers listed above.

The offers listed below are geared towards people who need credit quickly but may not have the best credit score. These cards charge an annual fee.

• The Orchard Bank Classic MasterCard is just the card for anyone needing to establish or repair credit and the interest rate is reasonable.
• No credit check is required for the Account Now Gold Visa^® Prepaid Card. This is a prepaid card that requires money to be deposited into the account. Have your paycheck direct-deposited and enjoy the benefits that come with using a plastic.

Quick approval doesn’t mean you should rush to apply. Take the time to compare offers before choosing any credit card offer. This will ensure that you find the best deal, save money and enjoy benefits and perks that best fit your needs.

* Be sure to visit ASAPCreditCard.com for the top credit cards.