How a credit card can instill maturity and responsibility (philstar.com) - February 13, 2019 - 1:20pm “Don’t get a credit card!” Most of us have heard this from our parents. This parental advice is not entirely baseless. Owning a credit card gives a person spending power, and coupled with immaturity and impulsiveness, it could cost its holder a lot. But with the right knowledge and attitude, a credit card can actually teach young adults financial maturity and responsibility. On being mature with finances Owning a credit card is a journey that broadens one’s perspective on finances, thereby developing maturity in handling it. Understanding the many hows of a credit card is key. 1. How it works A credit card allows one to borrow money from a credit card issuer to make purchases subject to terms like paying on time and staying within the credit limit. If you don’t pay on time, you’ll have to pay … [Read more...] about How a credit card can instill maturity and responsibility
New credit card bonus offers
caption Credit-card super users are sweating over reports of cardholders having their accounts closed by JPMorgan Chase. source Chase; iStock; Samantha Lee/Business Insider Members of online communities of credit-card super users have been freaking out over the past year over stories from some JPMorgan Chase cardholders that the bank shut down their credit-card accounts. Since the credit-card rewards arms race ramped up a couple of years ago following the Chase Sapphire Reserve launch, credit-card enthusiasts who make a hobby of accumulating points for free travel and other perks have swelled in numbers. Like card sharks in a casino, these customers tend to be very savvy, know all the rules and angles, and can eat away at a bank’s credit-card profits. Chase has gained widespread attention for its lavish rewards program, but profitability in its card division has fallen as it spends billions on rising rewards costs. The shutdown cases are … [Read more...] about Credit-card super users are searching for answers amid a string of shutdowns from Chase, as billions in costs on lavish rewards pile up
caption Plastiq founders Eliot Buchanan and Dan Choi. source ©2015 Jon Chomitz Photography Payment app Plastiq enables users to pay for nearly anything – including bills – with a credit card, but charges a 2.5% fee. Plastiq may be worth it if you’re trying to accumulate points or meet a minimum spend on a new credit card, but if you’re not careful, the fees could outweigh the rewards. Plastiq has an A+ rating from the Better Business Bureau and it’s simple to use. Move over Venmo and Apple Pay – there’s a new payment app in town and it’s called Plastiq. “Plastiq is bill pay with benefits,” cofounder Eliot Buchanan told Business Insider. “Our service makes it possible for business owners and savvy consumers to use a credit card for virtually any expense that normally requires a check.” That’s right, Plastiq allows you to … [Read more...] about Two Harvard alums built a payment app so people can pay for rent, tuition, and even taxes with a credit card
source Matt Cardy/Getty Images For years, credit cards from JPMorgan Chase, Citigroup, and others have offered price protection, a benefit that refunds customers up to $500 if they buy an item and subsequently spot it cheaper somewhere else. Filing a claim was a laborious task, so few people ever did. Apps like Earny have emerged that use bots to automate the price-protection process, connecting with users’ email accounts to monitor purchases and hunt down refunds. Insiders say the rise of these tools and services has led to exponential growth in price-protection claims: “Nobody foresaw the onslaught of claims right now.” Citi recently revealed it would cut back on its price-protection offering, while Chase is planning to eliminate it entirely. Discover, which doesn’t work with apps like Earny, has cut other benefits but is keeping price … [Read more...] about For years, Chase and Citi credit cards offered a generous, under-the-radar benefit that protected customers. And then the bots arrived.
caption Who doesn’t like free money? source David Silverman/Getty Travel credit cards are used by more than two-thirds of Americans. The average value of a travel credit card in the first year is $900, according to a new report from NerdWallet. After the first year, the average cardholder earns about $230 in rewards annually. Getting away can be expensive, but there are ways to stretch your budget. Almost 70% of Americans use travel credit cards to offset the cost of travel, according to a new report from NerdWallet. Travel credit cards, including those offered from big banks, airlines, and hotel chains alike, offer major travel perks in the form of points or miles – and it’s basically free money. The 32% of Americans who don’t use a credit card that offers travel rewards are leaving hundreds of dollars on the table – a collective $22 billion annually. According to … [Read more...] about Americans don’t spend enough on their credit cards to get the travel rewards they expected — here’s how to make sure you don’t miss out