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Ask Creditnet: Secured Credit Cards and Interest Rates

December 2nd, 2011 by Joshua Heckathorn

Dear Creditnet: I have interest in applying for a secured credit card. I found one that I really like and it says that for every 3 months I pay my bills on time my interest rate will be reduced. The confusing thing is that there is also a 7-month 0% APR period. My question to you is will my interest rate be reduced during that 7-month introductory period as I make payments on time?

Layaway is Making a Comeback

Think layaway was just something your grandma used to do? Wrong! Major retailers such as Walmart, Kmart and Sears are expecting huge growth in the popularity of their layaway programs this holiday season.

As consumers continue to struggle through tough economic times, many shoppers have no access to credit but still want the option to pay over time and have a payment schedule. Layaway programs fit this need, generally offering payment plans that range from just 4 to 12 weeks with no interest.

Updated by Joshua Heckathorn on Wed, 2011-11-30 16:00

To Pin or Not to Pin

November 30th, 2011 by Joshua Heckathorn

If life takes Visa, and Mastercard covers everything except those priceless moments money can’t buy, then all I need to enjoy my trip overseas is my credit card, right? Not necessarily, as some Americans have found during trips abroad over the past few years by getting stuck in train stations or embarrassed in restaurants and shops when their credit cards are declined. This can happen even when travelers take the recommended precautions, like making sure their accounts are in good standing and contacting their card issuer before the trip to make sure fraud detection safeguards aren’t activated by the first overseas purchase.

Shopping Online? Don't Store Your Credit Card Information

November 28th, 2011 by Elisabeth Chan

Most of your favorite shopping sites will allow you to store credit card information in order to speed up the checkout process. Online retailers know this added feature not only saves customers time, but it also helps move a lot more "browsers" to actual buyers. It's a win-win for merchants. Unfortunately, the problem for consumers is that storing your credit card information on a retailer's servers leaves your personal credit card data at risk. How much risk? Well, here's a scary statistic for you.

Top 5 Ways to Say No to Retail Credit Cards

November 23rd, 2011 by Joshua Heckathorn

"Would you like to save 10% on your purchase today?" You're going to hear this question a lot this holiday season, so avoid the awkward silence and be prepared with a quick comeback to throw the cashier off guard. Here are 5 of my top favorites:

Ask Creditnet: The Best Travel Rewards Business Credit Card

November 21st, 2011 by Elisabeth Chan

Dear Creditnet: I have 3 small businesses, and I'm looking for the best travel rewards business credit card to rack up miles. The balances are expected to be paid in full each month with a balance of around $5,000 per card. What card do you recommend and why?

Register for Small Business Saturday and Get $25 from Amex

Small Business Saturday 2011 is just one week away, so don't forget to register your American Express card this week! Trust us, you don't want to miss out on this opportunity.

After registering, all you'll need to do is spend at least $25 at a small business next Saturday, November 26th, and then Amex will provide you with a $25 statement credit. No strings attachedâ€”it really is that simple.

Updated by Joshua Heckathorn on Thu, 2011-11-17 16:00

Discover More Card Offers $150 Holiday Bonus

November 17th, 2011 by Joshua Heckathorn

Update: This offer is no longer available.

I reviewed the Citi Diamond Preferred Card last week because they're running a special holiday promotion that offers $200 cash back after you spend $500 online during the first 3 months. While this a great sign-up bonus, I personally wouldn't use the card for anything more than scoring a free $200 on Cyber Monday. Beyond the $200 cash back, it doesn't offer any rewards program and is really more of a balance transfer credit card due to its long 0% interest period. Since I never carry credit card balances and am a self-professed rewards junkie, that makes the card pretty much worthless to me in the long run. Many of you may feel the same.

Credit Card Debt and Your Retirement

November 16th, 2011 by Logan Abbott

I read an article recently which provided an extremely alarming statistic. Apparently the average retirement savings held in 401Ks for individuals between the ages of 55 and 65 in the United States is only $100,000.

British Airways Switching to New Avios Program Tomorrow

November 15th, 2011 by Joshua Heckathorn

Many of us, myself included, took advantage of the British Airways Card 100,000 mile promotion earlier this year. What we soon found out was that rewards flights from North America to Europe on British Airways carried hefty fuel surcharges of $500 or more! Our dreams of jaunting to Paris in 2012 courtesy of BA quickly faded. Effective tomorrow, British Airways Executive Club miles will be replaced by Avios points, which has a lot of cardholders even more concerned about the future value of their miles. Unfortunately, no one knows exactly what the new rewards program will entail because British Airways has refused to release any details.

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