credit card rewards Archives - Hanover Mortgages

May 18, 2022

5 Ways to Make Your Money Work for You

Save more, spend smarter, and make your money go further

Making your money work for you is an important step on the road to financial security and independence. Earning money by trading your time is important, but it’s just as important to find a way to make money without having to be actively involved. While you might dream of being able to make money while you sleep, there are plenty of steps you can take that will help put your money to work.

Pay Down Your Debt

The most important thing that you can do to make your money work for you is to pay down and eliminate your high-interest debt. This includes things like credit card payments, some auto loans, and other types of consumer debt. You may be paying up to 20% or more in interest — which means that when you put money towards paying off that debt you’re getting a 20% return on your investment. It’s hard to beat that kind of guaranteed return.

Start a budget, figure out your income and expenses and start paying down that debt. The exact debt repayment strategy that you use is less important. What is important is that you make a plan and start sooner rather than later. Once you have eliminated your high-interest debt, you can start with the other suggestions in this article.

Open a High-Yield Savings Account

One place to start can be to open up a high-yield savings account that is separate from your checking account where you keep the money to pay your regular monthly expenses. This is important for two reasons. The first is that keeping your savings separate from the money you use for your regular savings helps keep you from raiding your savings to pay your bills.

The second reason is that a savings account may offer slightly higher interest rates than a checking account. Currently, interest rates are at historical lows. That is great for refinancing or taking out a mortgage, but not great for savings accounts. Still, a high-yield savings account is a great place to put your emergency fund money. For anything more than that, you’ll want to look at investments that offer higher returns.

Grow Your Wealth Through Investing

If inflation hovers around 2-3% every year, any investments you have should make at least that much. Otherwise, while you may have more money, that money will be worth less than it was the year before. If all of your money is in a savings account earning 1% interest or less, then you are actually LOSING money to inflation each year. There are many ways to earn residual income, and you’ll want to pick the one that makes the most sense for you. As one example, Investing in the stock market has historically returned around 7% per year.

Take Advantage of Credit Card Rewards

Another way to make your money work for you is to take advantage of credit card rewards. Many credit cards offer rewards of up to 5% back or more in certain spending categories. There are also several cards that offer initial welcome bonuses that are worth $1000 or more. Taking the time to strategically use credit cards can be a worthwhile investment. Check out our list of the best rewards credit cards to see if one of them might make sense for you.

Start a Passive Income Stream

The holy grail of financial independence is passive income. Passive income is income that continues to make money with little to no day-to-day involvement on your part. There are many different ways to generate passive income. A few passive income ideas might be creating and selling crafts, writing a guide or book, starting a blog, or investing in the stock market.

Investing time and money in real estate can also be a way to earn (relatively) passive income. While rental real estate is not without complications, when it is all working, each month you earn rental income. That helps pay down your mortgage balance, hopefully with some extra left over each month. If you think that becoming a landlord is not for you, another way to invest in real estate is through a Real Estate Investment Trust (REIT). REITs combine some of the best parts of real estate and investing in the stock market.

The Bottom Line

There is an important difference between earning money and having your money work for you. While earning money through a job is important, the real key to financial security is earning passive income. Pay down your debt, start investing and watch the returns come in. You may not make money while you sleep, but following these tips will help set you on the right financial path.

Save more, spend smarter, and make your money go further

Dan Miller is a freelance writer and founder of PointsWithACrew.com, a site that helps families to travel for free / cheap. His home base is in Cincinnati, but he tries to travel the world as much as possible with his wife and 6 kids. More from Dan Miller

Source: mint.intuit.com

April 16, 2022

[Update] Verizon Credit Card With VerizonDollars 4% Back on Groceries & Gas; AutoPay Benefit; $200 Signup Bonus

Update 4/15/22: Some cardholders got an email offer for double cash back offer for one month up to $1,000 in spend. Works well for 8% on gas and groceries or 6% on dining. (ht readers James and MisterBill)

Update 12/9/21: They have now increased the signup bonus to $200: the regular $100 Verizon bill credit over 24 months (see below), plus a new $100 statement credit when you spend $500 within 30 days from account opening. Offer ends January 4, 2022.

Original Post:

Verizon launched a new credit card today, in partnership with Synchrony Bank which has no annual fee and no foreign transaction fee. It offers 4% back at grocery stores and gas stations, and offers 3% back on dining. There is a $100 bill credit signup bonus. There’s also a potential signup bonus of up to $1,000 for those who signup by June 25th.

Press Release | Signup Link | FAQs

Card Details

Card is a Visa and is issued by Synchrony Bank. Card can be used anywhere Visa is accepted.
Card only available for Verizon wireless postpaid customers. (Far as I can tell, the card is not available to those with Verizon Fios.)
Card earns Verizon Dollars which can be used on Verizon phone bills, Verizon Fios internet bills, phones, accessories and more. Each Verizon Dollar is worth $1.
- Update 7/2/21: Rewards can now be used to redeem toward gift card purchases as well to places like Amazon and more. Can be redeemed for travel as well.
Card earns the following rates:
- 4% back at gas stations and grocery stores, including delivery and pick up
- 3% back on dining/delivery and curbside pick-up purchases
- 2% on Verizon purchases
- 1% on all other purchases
Card made out of metal, reports indicate.
No limits on how much you can earn, no expiration date.
No annual fee.
No foreign transaction fees.

Additional Details and Benefits

Standard Signup Bonus

There is an inconspicuous mention of a signup bonus for the card, seems like this will be the standard signup for the card:

New cardholders can get up to $100 in wireless bill credits over 24 consecutive months when they use their new Verizon Visa Card to pay their monthly Verizon bill.
To receive the full $100 credit, you must pay a Verizon Wireless or Verizon Fios bill with either a Verizon Visa Card or by redeeming Verizon Dollars to pay the total bill amount for the first 24 months of opening a credit card account. During that time, the monthly credit, equaling $4.17, will not be credited for any monthly bill that wasn’t paid using the Verizon Visa Card or Verizon Dollars. Visit the Verizon Visa Credit Card Rewards Program Terms and Conditions for details.

Launch Signup Bonus

Update 9/3/20: People are getting the prelaunch bonus now and a report of $411.35. That means 2,431 people signed up and qualified for that bonus. Hat tip to mothman69

~~Offer Link~~

~~There is a special pre-launch signup bonus of up to $1,000 Verizon Dollars, based on a pot of $1M divided between all those who apply during pre-launch:~~

~~Signup between June 22 noon ET and June 25 p PM ET (before card launches officially on June 26) and get a chance to get up to $1,000 in Verizon Dollars if you are approved for the card.~~
Verizon Dollars will be awarded within 2-3 billing cycles to each eligible account owner’s or manager’s My Verizon account who completes all the following: (1) signs up on the list during the promotional period, (2) applies for a Verizon Visa Card through the link provided by the specified date, and (3) is approved for the Verizon Visa Card (“Approved Participant”).
$1,000,000 Verizon Dollars is available to be divided equally among all the Approved Participants, however in no event will any individual Approved Participant be awarded more than $1,000 Verizon Dollars. The actual amount awarded to each Approved Participant and the total amount awarded will depend upon the number of Approved Participants. For example, if there are 10,000 Approved Participants, then each will be awarded $100 Verizon Dollars and the $1,000,000 Verizon Dollars in total will be awarded. Void where prohibited. We reserve the right to remove anyone from the Early Access promotion in the event of fraud or abuse of the promotion.

It’s totally plausible you’ll end up just getting $10 or less, if a lot of people sign up. I’d personally guess that if so many people sign up they’ll put a floor on it and offer everyone $50 or something like that, but who knows.

Our Verdict

I hate these kinds of vague signup bonuses since it’s impossible to know how many people will sign up and what the reward will be. That said, if I were a Verizon postpaid customer and I wasn’t worried about 5/24, I’d consider signing up for the following reasons:

Get 2% back each month on my Verizon bill (versus paying with bank account to get Auto Pay discount if I didn’t have the Verizon card). Let’s say a $75 monthly bill, means $1.50 per month or $18 per year. Also, if you use Verizon for wireless and internet, the monthly bills could add up and the 2% becomes more significant.
- Some people use other credit cards for cell phone insurance, but if you’re anyway using your bank in order to get the AutoPay discount, this is a nice little incentive to sign up.
Get $100 in Verizon credits over the course of 24 months, $4.17 per month.
Get up to $1,000 signup bonus with no spend requirement. In order for the bonus to be $1,000, that would mean only 1,000 customers signup (see above). In all likelihood, the bonus will be much less than that, but it still possible it’ll be some worthwhile amount.
The 4% gas and grocery categories will interest a lot of people.
No foreign transaction fees is a nice feature for a card with no annual fee.
Two free TravelPasses per year which might be useful for international travelers.
(Seems that some ‘device dollars’ turn into un-expiring Verizon Dollars, but I’m hazy on the details.)

I can see this card especially for someone who plans to stick with Verizon wireless/Fios for a long time or for someone who values the 4% grocery category.

Source: doctorofcredit.com

March 9, 2022

What happens to credit card rewards after you return a purchase?

From shopping splurges to products or services that just didnât cut it, there are many reasons you may want to return a purchase made with your credit card. If you purchased with cash or a debit card, the returns process is simple enough â you return the product and then your money is refunded immediately.

But what about returns when you use your credit card? Now, you donât only have to think about the money reimbursed, but also about the rewards you earned on your initial purchase. Unfortunately, if you get a refund for a purchase, you wonât get to keep the rewards you earned.

Hereâs what you need to know about what happens to credit card rewards when you make a return.

What to expect with refunds to your credit card

The amount of time it takes to get a refund for purchases made on your credit card depends on the merchant you purchased the item from and your credit card issuer. If you bought an item that is only eligible for store credit upon return â or doesnât allow returns at all â there isn’t anything your credit card company can do to facilitate that return.

If the company does allow returns, the timeline for a refund typically ranges from a few days to a week or more. Even once a merchant processes a refund, the actual time it takes for the refund to show up in your account is set by your credit card issuer.

When you make a return, the money that is refunded will apply to your outstanding balance, not refunded to you directly. This means that if you return a $150 pair of shoes while having a balance of $500, your new statement will reflect a balance of $350.

However, if you return the same pair of shoes after you have already paid off your balance in full you could end up with a negative balance. While this may sound like a bad thing, it means that the credit card company owes you money to cover the charges you make until the negative balance is back to zero. So if your account balance was $0 at the time of the refund, your balance would become +$150 (essentially a credit), which would decrease as you make purchases.

Can you keep credit card rewards after you return a purchase?

So, you’ve decided you didnât love the shoes you bought or that the new mattress you purchased is too firm. You can get the money back, but what about the rewards you’ve earned?

Unfortunately, you wonât get to keep them.

As disappointing as this might be â whether itâs cash back, points or miles â credit card issuers across the board will deduct rewards from your account once the refund is processed.

If you have used the rewards you earned before you made the refund, you may end up with a negative rewards balance or negative points. Unlike a negative account balance, where the issuer owes you, a negative rewards or points balance means you owe the issuer rewards. Rewards you earn on ongoing purchases will âpay offâ the rewards deficit until you get back to zero.

Thereâs a loophole to let you keep your rewards

Because of the way that credit card transactions are processed, wherein the merchant is paid by the credit card issuer on your behalf and then the credit card company expects you to pay them back, there is a loophole where you can both return a purchase and also keep your rewards.

If you purchased an item that is available for refund in the form of store credit or postponement in the case of services, you can keep your rewards for that purchase. As far as the credit card company is concerned, it has paid the merchant and you have paid them. Issuers will only deduct your rewards if they have to process an actual refund.

Bottom line

When it comes to making a purchase with a credit card, the transaction time takes less than a second to process. When it comes to returns, however, the process can be a little more lengthy. If you are planning to make a return, you likely wonât be able to keep the rewards on your purchase unless you consider options like store credit.

Source: creditcards.com

March 3, 2022

7 Unexpected Benefits of a Good Credit Score

Do people understand the benefits of a good credit score? Everyone knows your credit score is important, but what exactly are the benefits?

In the United States, 28% of its citizens rely on credit when running out of money. While it’s good to use your credit, it’s not always wise to carry over a balance from month to month. If you can’t pay it back, your credit score will take a hit.

Most Americans know that your credit score is a golden ticket to a more manageable financial life. Whether you’re looking to maintain your credit score or increase it, the right motivation is essential.

That’s why we’re going to talk about the benefits of a good credit score. To keep you motivated to strive for more and let you know what’s waiting on the other side.

7 Unexpected Benefits of a Good Credit Score

We all know that having a good credit score is something everyone should want. If you need some extra motivation to increase your credit score or are curious what a high credit score will mean for you, here are the unexpected benefits of a good credit score.

1. Starting and Owning a Business

According to Forbes, consumers owed $323 billion on personal loans in 2020. The banks limited loan opportunities because of the increasing risk of default.

On a different note, loan applicants with good credit scores will have a much better chance of receiving an approval for the funds needed to set up a business or start a side hustle. Though some lenders may consider people with lower credit ratings, lenders have a habit of charging them with a higher APR (Annual Percentage Rate).

2. Less Hassle Getting Approvals

Imagine being denied something as common as a network provider subscription. Applications for basic household utilities and other post-paid subscriptions usually require credit reports. It also applies when you’re going to rent a space and need to pass a rental credit check, where the approval will depend on your ability to meet monthly payments on time.

While having a good credit score doesn’t mean you’ll get approved for every loan, it can increase the chances of approval. You can ask for new credit or new loans, and they will be quicker to grant it to you when you have a good credit score.

3. Better Risk Means Lower Interest Rates

Aside from having a better shot when applying for loans, you won’t have to worry about being charged exuberant amounts of interest with a good credit score.

Poor credit scores can lead to having the loan denied or charged at a much higher rate. Lenders assume a low credit score means it’s probably harder to settle the credit on time. It brings a higher risk that they need to offset with higher charges.

High credit scores imply that you have settled outstanding credit on time in the past. That’s why you’re charged lower interest rates on credit card balances you carry or loans you have.

It doesn’t matter if you’re looking for a personal loan, mortgage, student loan, or are carrying a balance on your credit card. Your credit score influences the interest rates at most places.

When you’re charged with a lower interest rate, you could pay off your debt faster and use the money toward other things.

4. Lower Insurance Rates

When you’re getting your mortgage or your car loan for a lower interest rate, you can also save on the insurance when you have a high credit score.

Insurance companies have their way of calculating the probability that you will make a claim, their so-called “insurance score.” The input comes from your credit report, and the variations between the two are minimal.

Insurance companies believe that when you have a lower credit score, you will file more claims. Whether that’s true or not, they base their decisions on it.

If you have a good credit score, be sure to compare insurance companies before you settle for one.

5. Great Credit Card Deals

If you have a good credit history and want to continue increasing it, know that you can get excellent credit card deals when you have a strong credit score.

These credit cards can have lower interest, offer credit card rewards, airline miles, or cash back on your purchases. It will make sure that you keep using your credit card, which will help you keep your credit score up. Plus, it will help you save money with cash back rewards.

The important thing here is that you make payments when they’re due and try to close as much balance as you can at the end of the month.

6. Room To Negotiate

It’s always better to negotiate. That’s also the case with your credit score.

When you’re looking for something specific, be sure to ask around and see if anyone can offer you a competitive rate. If you have a high credit score, you can ask companies for a price decrease or an interest rate decrease because you always pay on time and have a good credit history.

Companies have less room for negotiation when you have a lower credit score because specific standards and procedures need to follow.

7. That Special Requirement When Landing A Job

According to CNBC, 72% of employers still do background checks, and 29% of those employers check credit reports. If a poor credit report reveals bad financial habits, it may influence the decision to hire someone.

Of course, this depends entirely on the position. When you’re handling other people’s money or holding a public function, it’s more relevant than when you’re behind a computer doing web development.

Some Consumer Facts:

Around 21% of the American population has a good FICO® credit score.
In 2020, the average credit score in the US was 710. This is a record high, despite the pandemic.
Between 2019 and 2020, the average credit card debt decreased by 14%, from $6,194 to $5,315.
35% of your credit score is based on Payment History. This may include payment information on credit cards, mortgages, installment loans (auto loans or student loans), retail accounts, and consumer finance company accounts.

Conclusion

There are a lot of ways to keep ourselves within the boundaries of our spending capabilities. Set a goal, spend less than you earn by creating a budget, and maintain a good credit score.

A good credit score can mean unexpected benefits like quicker approvals for credit or loans, utilities, phone plans, and even renting a place. You will get better credit card deals, pay lower interest, get lower insurance rates, and can get a loan quicker to start your own business. When you have a high credit score, make sure you negotiate your rates down, as that can save you even more. Employers will also value a good credit report, which may get you the job quicker.

If you want all of these benefits and aren’t sure how to get there, here’s tips on how to improve your credit score.

Source: credit.com

February 26, 2022

How I use my Bank of America Customized Cash Rewards card

As the first rewards credit card that I ever applied for, the Bank of America® Customized Cash Rewards credit card remains a staple in my wallet. In addition to other cash back credit cards like the Chase Freedom Unlimited®, the Bank of America Customized Cash Rewards card enables me to earn cash back with each purchase I make. The card is simple and easy to use, allows you to customize rewards categories to suit your spending habits and comes with some handy additional perks.

About the Bank of America Customized Cash Rewards card

The Bank of America Customized Cash Rewards card is a solid cash back credit card with some nice additional benefits.

Bank of America Customized Cash Rewards card basics

Cash back: 3% cash back on a category of your choice (gas, online shopping, dining, travel, drug stores or home improvements and furnishings); 2% back on grocery store and wholesale club purchases ($2,500 combined spending limit on the 2% and 3% categories each quarter); 1% back on all other purchases
Intro APR: 0% intro APR for the first 15 billing cycles on purchases and balance transfers made in the first 60 days
Regular APR: 13.99% to 23.99% variable APR
Welcome bonus: $200 online cash rewards when you spend $1,000 in your first 90 days
Annual fee: $0

Bank of America Customized Cash Rewards card additional perks

Security features: Fraud protection, overdraft protection, contactless chip
Online features: Online and mobile banking and account alerts
Credit tools: Free FICO score with monthly updates

How Iâm using this card

This low-maintenance mainstay makes it easy for me to earn cash back on everyday purchases.

1. Taking advantage of the sign-up bonus

Like many great rewards credit cards, this card comes with a sign-up bonus for new cardholders. If you spend $1,000 in the first 90 days, you earn $200 in online cash rewards.

This means that, as long as you spend a little under $350 a month on everyday expenses, you can easily qualify for the welcome bonus. While not quite as generous as the bonuses attached to some luxury rewards cards, this bonus is simple, fuss-free and easy to qualify for.

2. Choosing my bonus category based on my budget

The Bank of America Customized Cash Rewards card allows customers to choose which category they want to earn 3% cash back in. Available categories include gas, online shopping, dining, travel, drug stores or home improvement.

I currently use this card to earn 3% cash back on online shopping, since I have other cards with more lucrative rates when it comes to dining and travel benefits. This means that Iâm able to maximize my rewards and earn 3% cash back on most purchases I make online, whether Iâm ordering household goods, new clothes or more books than necessary. (Note, of course, the $2,500 combined spending cap on 2% and 3% categories each quarter.)

One of the nice things about this card is that the 3% category is flexible, so you can choose a different category each month depending on your projected spending areas. For example, if youâre going on a long road trip, you might opt to earn 3% cash back on gas one month, while you might choose to earn 3% in the home improvement category if youâre planning on completing a home renovation project.

3. Pairing this card with other cards

As mentioned above, the Bank of America Customized Cash Rewards card pairs well with other rewards credit cards, while also offering some great baseline rewards. I like to use this card for online shopping and purchases at wholesale clubs, while using the Chase Freedom Unlimited for dining, groceries and everyday, in-person purchases.

Since the card has no annual fee, itâs worth it even if you only ever use it to make purchases in your chosen 3% cash back category. While the difference between 1% and 3% might not seem like that much month-to-month, it can add up to some serious savings over a long enough time period.

4. Shopping at wholesale clubs

Another nice perk of this card is that it earns 2% cash back at wholesale clubs as well as at grocery stores. This means that whenever I succumb to an impulse buy at Target or stock up on bulk snacks at Costco, I can earn a little extra cash back. Again, this category might not seem all that significant, but it can really add up.

5. Saving money with no annual fee

One of my favorite parts of the Bank of America Customized Cash card is that thereâs no annual fee. This means that, no matter how much or little I spend, Iâm always guaranteed to come out ahead as long as I pay off my balance in full each month.

No annual fee also means that I donât have to spend any extra time or energy making sure that Iâm maximizing my cardâs more obscure benefits in order to make up for a hefty annual fee. The low cost of this card lends itself well to a true set-it-and-forget-it approach to credit card rewards, where you can simply rack up rewards over time and redeem them for straight cash.

6. Taking advantage of security features

Like most rewards credit cards these days, the Bank of America Customize Cash card comes with plenty of security features. These include fraud protection, overdraft protection and contactless chip technology when shopping in person. The fraud protection can be particularly handy and enables you to receive texts verifying that suspicious purchases are not fraudulent.

7. Redeeming my cash back

Some people like to optimize their credit credit card rewards as much as possible, redeeming rewards toward travel, shopping through proprietary portals and scoping out the best exclusive deals. While thereâs certainly nothing wrong with this, I often find myself taking a much more minimalist approach when it comes to credit card rewards.

Cash back credit cards are simple, easy to use and provide real financial benefit in the form of cold, hard cash each month. With the Bank of America Customized Cash card, thereâs no need to worry about which redemption option is the most lucrative. Instead, I can redeem rewards in the form of a statement credit or cash deposit into a Bank of America checking or savings account.

For Bank of America loyalists, thereâs an opportunity to earn even more cash back thanks to their Preferred Rewards program. This program enables cardholders who meet certain savings criteria to earn up to a 75% point boost.

8. Monitoring my credit score

Another nice feature of the Bank of America Customized Cash Rewards card is that it comes with a free FICO credit score. This report is updated on a monthly basis and can help you to monitor your credit score and make sure that your credit is on the right track. The report will also tell you what factors may negatively influence your credit score, like your loan balances or the age of your accounts.

Bottom line

The Bank of America Customized Cash Rewards card is the first card I reach for when Iâm shopping online or at wholesale clubs. Earning up to 3% cash back on select bonus categories, this card makes it simple and painless to earn while you spend. I usually redeem my cash back in the form of a statement credit at the end of each month.

With no annual fee and a zero-interest offer on purchases and balance transfers for over a year, the Bank of America Customized Cash Rewards card is a great option for beginners looking for a simple cash back credit card or those looking to pay off a large purchase or transfer a balance.

Source: creditcards.com

February 10, 2022

Chase Offers program guide

If youâre tired of clipping coupons and searching for promo codes but still want to save money, Chase Offers can help you earn cash back at the places you already shop. By taking a few minutes to browse deals and link them to a card, eligible Chase credit and debit cardholders can quickly start racking up statement credits.

What is Chase Offers?

Similar to other card-linked offer programs, Chase Offers gives cardholders deals from popular brands designed to help them save money on purchases such as dining, clothing and travel. There are plenty of deals to choose from and thereâs something for every kind of spender.

âWe also are featuring offers from partners that are exclusive to Chase customers,â says Maribel Ferrer, communications director of payments at Chase Offers. This makes it easy for users to know that they are getting great value and savings they couldnât find hunting for a traditional coupon or promo code.

How does Chase Offers work?

Chase Offers is a pretty straightforward program and easily accessible for eligible members.

Ferrer says that Chase Offers doesn’t require customers to sign up and that customers who use the Chase Mobile App will automatically see their offers at the bottom of their home screens.

“All they have to do is simply add offers to their card with a single tap and then shop at the merchant to earn an automatic statement credit,â says Ferrer. Thereâs also no limit to the amount of deals you can choose and no penalty for not using an offer.

Once you make a qualifying purchase, youâll receive the offered statement credit in the next seven to 14 business days.

Outside the Chase app offers, these deals are also available on the Chase website, in addition to on the mobile app. You can receive updated Chase Offers online via email, too. These options make it even easier for cardholders to find offers that work for them no matter where they prefer to browse.

Restrictions and drawbacks with Chase Offers

While Chase Offers has some unique features that add value for users, there are also some drawbacks to the program:

Chase Offers vary by eligible card

These exclusive Chase credit card offers are specific to each of your eligible cards, so you canât use multiple cards to take advantage of the same deal more than once (unless it happens to be offered for both). If you spend differently on different cards, it’sÂ is likely your available deals will vary.

Keep close watch on the terms and conditions

Each merchant offer also has its own set of terms and conditions that youâll want to read carefully. Offers might require certain purchase amounts or be limited to one use per card. To make sure you actually earn the statement credit, be careful with how you spend.

Chase Offers is only available in the U.S.

While many similar programs include offers outside of the U.S. â even if your purchase is made in a foreign currency â Chase Offers is only available stateside for now. You wonât be able to rack up extra cash back while you travel.

Types of deals you can find

âDeals vary and there is something for everyone,â says Ferrer, citing examples like pet shops and hardware stores as unique deals on Chase Offers. In addition to travel, dining and retail promotions, Chase Offers users can find exclusive cash back from a wide variety of brands.

To make the experience even more unusual, Chase Offers are tailored to the specific user. When you log into your Chase mobile app, youâll see recommended deals inspired by your location and spending patterns.

Earn more with Chase rewards cards

Making a purchase to redeem a Chase Offer doesnât affect your normal credit card rewards earning, so you can use deals to boost your overall rewards rate. If you stack Chase Offers on rewards earned on cards like the Chase Sapphire Preferred CardÂ or Chase Sapphire Reserve card â two of our most popular travel cards â you can earn enough for your next trip in no time.

Hereâs a quick look at a few of Chaseâs rewards cards to give you an idea of what you can earn.

	Intro bonus	Rewards rate	Annual fee
Chase Sapphire PreferredÂ® Card	60,000 points if you spend $4,000 in first 3 months	5X points on travel purchased through Chase Ultimate Rewards 3X points on dining, select streaming services and online grocery purchases (excluding Target, Walmart and wholesale clubs) 2X points on other travel 1 point per dollar on general purchases	$95
Chase Sapphire ReserveÂ®	50,000 points if you spend $4,000 in first 3 months	10X points on hotels and car rentals purchased through Chase Ultimate Rewards 5X points on air travel purchased through Chase Ultimate Rewards 3X points on other travel and restaurant purchases Earn elevated rewards on all travel purchases immediately after spending the $300 annual travel credit 1X point on general purchases	$550
Chase Freedom UnlimitedÂ®	Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year)	5% cash back on Lyft purchases (through March 2022) 5% cash back on travel purchased through Chase Ultimate Rewards 3% cash back on restaurant and drugstore purchases 1.5% cash back on all purchases	$0
Chase Freedom Flexâ	$200 if you spend $500 in first 3 months	5% cash back on rotating bonus categories that you must activate each quarter (on up to $1,500 per quarter) 5% cash back on Lyft purchases (through March 2022) 5% cash back on travel purchased through Chase Ultimate Rewards 3% cash back on restaurant and drugstore purchases 1% cash back on general purchases	$0
Ink Business UnlimitedÂ® Credit Card	$750 if you spend $7,500 in first 3 months	1.5% cash back on all purchases	$0
Ink Business CashÂ® Credit Card	$750 if you spend $7,500 in first 3 months	5% cash back on internet, cable and phone services and at office supply stores ($25,000 in purchases per year) 2% cash back on gas and dining ($25,000 in purchases per year) 1% cash back on other purchases	$0

How to maximize rewards with Chase Offers

To ensure you are getting the most cash back from your Chase Offers, follow a few simple tips:

Combine Chase Offers with paper coupons, promo codes and other deals

Since statement credits for Chase Offers are awarded simply for using an eligible Chase credit card, you can usually still utilize paper coupons or promo codes when you make your purchase. If you take a little extra time to hunt for merchant promotions, you can boost your savings.

And if you have more than one credit card, you can take advantage of multiple card-linked offer programs. For example, if you have another Chase Visa card, you can link it to Uberâs Visa Local Offers program for extra Uber Cash. Thatâs an especially effective combo with a card that earns rewards on Uber, like the Chase Sapphire Reserve and its 3X points on dining and other travel not purchased through the Chase portal (after the annual $300 travel credit â which can also be used on Uber).

Shop using cash back portals to stack offers

Similar to using a promo code, you can shop online using cash back portals to stack promotions. Shop Through Chase is an excellent place to start collecting a few extra Ultimate Rewards points. Other websites like Cashback Monitor clearly show where you can earn rewards from particular merchants. If your Chase Offer applies to online purchases, shop through the cash back portal and use your linked Chase card to pay to earn even more.

Check for a Chase Offer every time you dine out

While Chase Offers range from retail promotions to travel offers, most deals seem to be dining-related. Before you eat out, check your Chase mobile app for an offer at your favorite restaurant to ensure you arenât missing out on savings.

Amex Offers andÂ BankAmeriDeals.

Bottom line

If you are a Chase customer, itâs no question that you can get great value by taking advantage of Chase Offers. Youâll find exclusive deals without the hassle of hunting down a coupon and automatically receive statement credits quickly.

Source: creditcards.com

January 19, 2022

10 Moves That Will Make Your Credit Score Soar in 2022

Mature couple using credit card — s4svisuals / Shutterstock.com

Editor’s Note: This story originally appeared on The Penny Hoarder.

If you want to whip your finances into shape, here’s a good New Year’s resolution: improving your credit score.

A lot of New Year’s resolutions fail because they’re so extreme. Think of all the bonkers weight-loss and money-saving goals that surface at the start of every year.

This resolution is different. No extreme measures are required. But there aren’t any shortcuts. Building good credit is a goal you need to commit to 12 months a year.

How to Build Good Credit in 10 Steps

Ready to make 2022 the year you finally prove your creditworthiness? Here’s how to build good credit in 10 steps.

1. Stay on Top of Your Credit Reports

Shocked woman looking at her credit report — Ljupco Smokovski / Shutterstock.com

About 1 in 5 credit reports contain inaccurate information. Make sure you access your reports at AnnualCreditReport.com, rather than one of the many websites that offer “free” credit scores but will make you put down your credit card number to sign up for a trial. File a dispute with the bureaus if you find anything you think is inaccurate or any accounts you don’t recognize.

Your credit reports won’t show you your credit score, but you can use a free credit-monitoring service to check your score. (No, checking your own credit doesn’t hurt your score.) Many banks and credit card companies also give you your credit scores for free.

2. Pay Your Bills — on Time — Every Single Month

Couple excitedly booking travel on laptop with their credit card — Roman Samborskyi / Shutterstock.com

Yeah, you knew we were going to say this: Paying your bills on time is the No. 1 thing you can do to build good credit. Your payment history determines 35% of your score, more than any other credit factor.

Set whatever bills you can to autopay for at least the minimums to avoid missing payments. You can always pay extra if you can afford it.

A strong payment history takes time to build. If you’ve made late payments, they’ll stay on your credit reports for seven years. The good news is, they do the most damage to your score in the first two years. After that, the impact starts to fade.

3. Establish Credit, Even if You’ve Made Mistakes

You typically need a credit card or loan to build a credit history. (Sorry, but all those on-time rent and utility payments are rarely reported to the credit bureaus, so they won’t help your score.)

But if you have bad credit or you’re a credit newbie, getting approved for a credit card or loan is tough. Look for cards that are specifically marketed to help people start or rebuild credit. Store credit cards, which only let you make purchases at a specific retailer, can also be a good option.

4. Open a Secured Card if You Don’t Qualify for a Regular Card

Man giving a thumbs up happy with his credit card rewards — Dean Drobot / Shutterstock.com

Opening a secured credit card is one of our favorite ways to build a positive history when you can’t get approved for a regular credit card or loan. You put down a refundable deposit, and that becomes your line of credit.

After about a year of making your payments on time, you’ll typically qualify for an unsecured line of credit. Just make sure the card issuer you choose reports your payments to the credit bureaus. Look for a card with an annual fee of no more than $35. Some secured card options we like (and no, we’re not getting paid to say this):

Discover It Secured
OpenSky Secured Visa Card
Secured Mastercard from Capital One

5. Ask for a Limit Increase; Pretend You Never Got It

Senior man being scammed on the phone with credit card — Andrey_Popov / Shutterstock.com

Increasing your credit limits helps your score because it decreases your credit utilization ratio. That’s credit-score language for the percentage of credit you’re using. The standard recommendation is to keep this number below 30%, but really, the closer to zero the better.

If you have open credit, ask your current creditors for an increase, rather than applying for new credit. That way, you’ll avoid lowering your length of credit, which could ding your score.

The downside of a higher credit limit: You’ll have more money to spend that isn’t really yours. To get the biggest credit score boost from a limit increase and avoid paying more in interest, make sure you don’t add to your balance.

6. Prioritize Credit Card Debt Over Loans

Tackling credit card debt helps your credit score a lot more than paying down other debts, like a student loan or mortgage. The reason? Your credit utilization ratio is determined exclusively by your lines of credit.

Bonus: Paying off credit card debt first will typically save you money, because credit cards tend to have higher interest rates than other types of debt.

7. Keep Your Old Accounts Active

Man looking at credit score — Lipik Stock Media / Shutterstock.com

Provided you aren’t paying ridiculous fees, keep your credit card accounts open once you’ve paid off the balance. Credit scoring methods reward you for having a long credit history.

Make a purchase at least once every three months on the account, as credit card companies often close inactive accounts. Then pay it off in full.

8. Apply for New Credit Selectively

Woman holding credit cards — Rawpixel.com / Shutterstock.com

When you apply for credit, it results in a hard inquiry, which usually drops your score by a few points. So avoid applying frequently for new credit cards, as this can signal financial distress.

But if you’re in the market for a mortgage or loan, don’t worry about multiple inquiries. As long as you limit your shopping to a 45-day window, credit bureaus will treat it as a single inquiry, so the impact on your score will be minimal.

9. Still Overwhelmed? A Debt Consolidation Loan Could Help

woman in debt — Sam Wordley / Shutterstock.com

If you’re struggling with credit card debt, consolidating your credit card debt with a loan could be a good option. In a nutshell, you take out a loan to wipe out your credit card balances.

You’ll get the simplicity of a single payment, plus you’ll typically pay less interest since loan interest rates tend to be lower. (If you can’t get a loan that lowers your interest rate, this probably isn’t a good option.)

By using a loan to pay off your credit cards, you’ll also free up credit and lower your credit utilization ratio.

Many debt consolidation loans require a credit score of about 620. If your score falls below this threshold, work on improving your score for a few months before you apply for one.

10. Keep Your Credit Score in Perspective

Happy, confident woman smiling — Asier Romero / Shutterstock.com

All the credit-monitoring tools out there make it easy to obsess about your credit score. While it’s important to build good credit, look at the bigger picture. A few final thoughts:

Your credit score isn’t a report card on the state of your finances. It simply measures how risky of a borrower you are. Having an emergency fund, saving for retirement, and earning a decent living are all important to your finances — but these are all things that don’t affect your credit score.

Lenders look at more than your credit score. Having a low debt-to-income ratio, decent down payment, and steady paycheck all increase your odds of approval when you’re making a big purchase, even if your credit score is lackluster.

Don’t focus on your score if you can’t pay for necessities. If you’re struggling and you have to choose between paying your credit card versus paying your rent, keeping food on the table, or getting medical care, paying your credit card is always the lower priority. Of course, talk to your creditors if you can’t afford to pay them, as they may have options.

Focus on your overall financial picture, and you’ll probably see your credit score improve, too. Remember, though, that while credit scores matter, you matter more.

Now go crush those goals in 2022 and beyond.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

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Source: moneytalksnews.com

January 10, 2022

Best Credit Cards from Bank of America

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Bank of America is one of the most prolific credit card issuers in the United States. Its ever-changing card lineup includes enticing options for consumers and small-business owners across the income and credit score spectrum.

Some Bank of America cards are better than others, of course. Rather than sort through every single BofA card under the sun, use this list as a shortcut to pick from among the very best.

Best Credit Cards from Bank of America

These are the best credit cards offered by Bank of America right now. Each does at least one thing really well, whether it’s delivering cash-back rewards built around your unique spending patterns or helping you pay down high-interest debt before it becomes truly unmanageable.

You don’t need to have a Bank of America savings or checking account to qualify for any of these cards, although you can potentially get more out of your card if you have or open one.

Best Overall: Bank of America® Premium Rewards® Credit Card

The Bank of America® Premium Rewards® Credit Card lives up to its name and delivers the best overall value of any Bank of America credit card. It’s ideal for consumers who travel and dine out frequently.

Highlights include:

$95 annual fee
Earn 50,000 online bonus points (worth $500) after you make at least $3,000 in purchases in the first 90 days of account opening
Earn unlimited 2x points on all eligible travel and dining purchases
Earn unlimited 1.5x points on all other eligible purchases
Flexible redemption options, including deposits to eligible bank or investment accounts, credit card statement credits, and gift cards
Get up to $200 in travel statement credits: $100 against qualifying purchases like seat upgrades, baggage fees, airline lounge fees, and in-flight services; and up to $100 against TSA PreCheck or Global Entry application fees
No foreign transaction fees

Best Cash-Back Credit Card: Bank of America® Customized Cash Rewards

The Bank of America® Customized Cash Rewards Credit Card is a cash-back credit card with no annual fee. Meant for applicants with good credit or better, its rewards program is designed to fit around your spending patterns and lifestyle.

Highlights include:

No annual fee
Get a $200 online cash rewards bonus after making at least $1,000 in purchases within the first 90 days of your account opening date
Get 0% APR for your first 15 billing cycles for purchases and balance transfers (balance transfers must be made within the first 60 days of opening your account)
Earn 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishing
Change your 3% category up to once per month
Earn 2% cash back at grocery stores and wholesale clubs
Earn 1% cash back on all other eligible purchases
3% and 2% cash back capped at $2,500 in eligible purchases per quarter; then earn 1% cash back on all eligible purchases

Best for Frequent Travelers: Bank of America® Travel Rewards Credit Card

The Bank of America® Travel Rewards Credit Card is the perfect card for frequent travelers who don’t want to pay an annual fee. It has one of the best sign-up bonus offers around for a no-annual-fee card too.

Highlights include:

No annual fee
No foreign transaction fees
Earn 25,000 online bonus points (worth $250 as a statement credit) after you make at least $1,000 in purchases in the first 90 days of your account opening
Earn unlimited 1.5x points on all eligible purchases
Redeem for statement credit to reduce or cover the cost of flights, hotel stays, vacation rentals, baggage fees, and restaurant purchases (including takeout)
Get 0% APR for your first 15 billing cycles on purchases

Best for People With Existing Credit Card Debt: BankAmericard

BankAmericard is the best Bank of America credit card for people who need to pay down existing credit card debt without paying any more interest than necessary. Its 18-month 0% APR promotion on balance transfers is a great help here.

Highlights include:

No annual fee
No penalty APR
Get 0% APR for your first 18 billing cycles for purchases and balance transfers (balance transfers must be made within the first 60 days of opening your account)
Qualify for a $100 statement credit online bonus after you make at least $1,000 in purchases in the first 90 days

Best for People With Limited or Impaired Credit: Bank of America® Customized Cash Rewards Secured Credit Card

The Bank of America® Customized Cash Rewards Secured Credit Card is a cash rewards credit card for people with limited or impaired credit. As a secured credit card, it requires a security deposit when you open your account, but don’t worry — you’ll get it back if you close your account in good standing or upgrade to an unsecured card.

Highlights include:

No annual fee
Deposit between $300 and $4,900 to open your account
Earn 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishing
Update your 3% category as often as once per month
Earn 2% cash back at grocery stores and wholesale clubs and 1% cash back on all other eligible purchases
3% and 2% cash back capped at $2,500 in eligible purchases each quarter

The Bank of America® Premium Rewards® Credit Card makes a second appearance on this list on account of its sign-up bonus, which is among the most generous of any credit card with an annual fee under $100.

To earn it, simply spend at least $3,000 in eligible purchases in the first 90 days after opening your account. Once that’s done, you’ll receive 50,000 online bonus points (worth $500) within one to two billing cycles.

Best for Students: Bank of America® Unlimited Cash Rewards for Students

The Bank of America® Unlimited Cash Rewards for Students is one of the best cash-back cards for students. And with relaxed underwriting standards, it’s open to students with limited credit history — those still building credit for the future.

Highlights include:

No annual fee
Get a $200 online cash rewards bonus after you make at least $1,000 in purchases within the first 90 days
Earn unlimited 1.5% cash back on all eligible purchases
Get 0% APR for your first 15 billing cycles for purchases and balance transfers (balance transfers must be made within the first 60 days of opening your account)

Best for Business Owners: Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card

The Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card is the top Bank of America credit card for business owners. It’s particularly useful for business owners and employees who travel frequently for work.

Highlights include:

No annual fee
No foreign transaction fees
Earn 3x points when you book eligible travel through the Bank of America® Travel Center
Earn unlimited 1.5x points on all other eligible purchases
Redeem for statement credits against eligible travel and dining purchases
Earn 30,000 online bonus points (worth $300 as a statement credit against dining or travel purchases) after you make at least $3,000 in purchases in the first 90 days
Get 0% APR for your first nine billing cycles on purchases

Methodology: How We Select the Best Bank of America Credit Cards

We use several key metrics to evaluate Bank of America credit cards and choose the best offers for our readers. Each relates to a specific aspect of the user experience or a particular use case, such as travel spending or transferring high-interest balances.

Rewards Program

A strong rewards program is a selling point for any credit card. Good thing Bank of America has plenty of different rewards options to choose from, including multiple cash-back credit cards and travel rewards credit cards.

Credit cards with excellent rewards programs often have annual fees, but not always. The Bank of America Customized Cash Rewards Card has one of the best cash-back programs around, yet it manages to avoid a recurring levy.

A great sign-up bonus is another big perk for discerning credit card applicants.

Bank of America has several credit cards with generous sign-up bonuses, including one that’s among the best in the travel rewards category (the Bank of America Premium Rewards Credit Card).

When evaluating a credit card sign-up bonus, make sure the required spend is realistic within your budget. You might have no trouble spending $500 or $1,000 during the first three months, but putting $4,000 or $5,000 on your card could be a tougher task.

0% APR Introductory Promotion

Several Bank of America credit cards have generous 0% APR introductory promotions as well. During the promotional period, these cards waive interest on purchases or balance transfers (or both).

A 0% APR credit card significantly reduces the cost of financing a major purchase that ordinarily wouldn’t fit into your monthly budget, like a home improvement project or a pre-holiday online shopping spree.

Meanwhile, a balance transfer credit card makes paying off high-interest debt a bit more manageable. The best options have other benefits, like strong cash-back or travel rewards programs.

Interest Rate

0% APR promotions do eventually end. When that happens, a low ongoing APR helps shave the cost of carrying a balance from month to month. While it’s best to pay off your credit card balances in full each month, life happens, and a lower interest rate can come in handy.

Credit Requirements

Bank of America credit cards span the credit spectrum, from secured cards designed for people with bad credit to premium travel cards for people with very good to excellent credit.

Cards that are picky about applicants’ creditworthiness aren’t necessarily worse than more lenient cards. Those picky cards usually have better rewards programs and perks. But if you’re still early in your credit journey, expect fewer choices.

Target User

Finally, we consider each card’s target user.

The biggest distinction is between personal (consumer) and small-business credit cards, but we can further break cards down by life stage, creditworthiness, and spending patterns. Some examples of common target user groups:

Frequent travelers
Students
People with impaired or limited credit
People rebuilding credit
People with existing credit card debt
People planning major purchases
People who spend heavily in specific spending categories, like gas or groceries

Bank of America Credit Card FAQs

You have questions about these Bank of America credit cards. We have answers.

What Annual Fees Should You Expect From Bank of America Credit Cards?

Bank of America credit cards aren’t known for over-the-top annual fees.

Many BofA cards, including most on this list, have no annual fees at all. Those that do charge annual fees are comparatively lenient, typically under $100. That kind of fee is often worthwhile for moderate to heavy spenders who can earn enough rewards to offset it while taking advantage of other potentially valuable card benefits.

What Are the Benefits of Bank of America Credit Cards?

Bank of America credit cards reserve some noteworthy benefits for cardholders with Bank of America bank accounts or investment accounts through Merrill Lynch, its in-house brokerage.

The biggest benefit is the potential to multiply credit card rewards through the Preferred Rewards program. Depending on your total balances on deposit in eligible BofA or Merrill Lynch account, you can earn a juicy online cash rewards bonus — up to 75% more rewards — as a Bank of America Preferred Rewards member.

Existing Bank of America customers can also link their BofA credit cards to their Bank of America checking or savings accounts to prevent overdrafts. Overdraft protection transfers may incur fees and interest, however.

What’s the Best Bank of America Credit Card?

That depends on your priorities.

Any of the cards on this list can reasonably claim to be the “best” Bank of America credit card, but each has its own benefits and drawbacks. To decide which is best for you, compare each card’s attributes against your spending priorities.

What’s the Interest Rate on Bank of America Credit Cards?

That depends on the credit card you choose and your personal creditworthiness. All else being equal, having a higher credit score means qualifying for a lower interest rate.

Some Bank of America credit cards have long 0% APR introductory periods, low ongoing interest rates, or both.

If you’re planning on carrying a balance from month to month, BankAmericard is probably your best bet. Likewise if you’re planning a major purchase or balance transfer soon after opening your account thanks to BankAmericard’s long 0% APR introductory offer.

Bank of America Customized Cash Rewards is a close second on the 0% APR introductory offer front.

By contrast, Bank of America’s secured credit cards typically have higher interest rates. Don’t carry balances from month to month on these cards if you can avoid it.

How to Choose the Best Bank of America Credit Card

If you’re in the market for a new credit card from Bank of America, you can’t go wrong with any of the cards on this list. They’re the very best BofA has to offer, and we stand behind our recommendations for them.

That said, your ideal Bank of America credit card might be different from the next person’s. To choose the card that best fits your needs, ask yourself what you hope to get from it.

Do you want a low ongoing interest rate or long 0% APR introductory promotion to finance a major purchase or pay down existing high-interest debt? That’s BankAmericard.

Are you looking for a card with a rewards program that you can tailor to your spending patterns? That’s the Bank of America Customized Cash Card.

Are you looking for a premium credit card with a great sign-up bonus and generous ongoing rewards that get even better with the Preferred Rewards’ program’s online cash rewards bonus? That’s the Bank of America Premium Rewards Card.

Those are just some ideas. You might have another ideal BofA card in mind. But one thing is for sure: You can use this list to speed along your search.

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Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he’s not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.

Source: moneycrashers.com

January 9, 2022

Is the Citi Rewards+ Card worth it?

The Citi Rewards+Â® Card is a no-annual fee rewards credit card that earns 2 points per dollar on supermarket and gas station purchases (on up to $6,000 per year, then 1 point) and 1 point per dollar on all other purchases.

While these are not the most impressive rewards rates, the card also offers a feature rounding up rewards from each purchase to the nearest 10 points per dollar. This can prove especially valuable for small purchases under $10.

For some cardholders, the Citi Rewards+ may be worth it if they pair it with other Citi cards or make a habit of using it for running errands. Others, however, may want to look into other card options.

Hereâs how to determine whether the Citi Rewards+ is worth it for you.

When is the Citi Rewards+ Card worth it?

The Citi Rewards+ Cardâs rewards rates are modest, even with the roundup feature and the annual bonus of 10% back on the first 100,000 points redeemed (worth $100 in gift cards if maximized). It also doesnât have much to offer in terms of perks and benefits.

Still, thereâs a couple of situations where adding the Citi Rewards+ Card to your wallet may be a good idea.

Youâre building a Citi card combo

Some cardholders ensure theyâre getting value out of their cards by picking the best credit card products from different issuers that fit their spending the most.

Others maximize value by sticking with one issuer â like Citi.

If youâre interested in travel rewards, you can pair the Citi Rewards+ with the Citi PremierÂ® Card, which offers 3 points per dollar spent on restaurants, supermarkets, gas stations, air travel and hotels and 1 point per dollar spent on other purchases.

With this card, you can earn points on travel and transfer them to any of Citiâs travel partners to get the best value, which the Citi Rewards+ on its own doesnât allow.

You can go even further and create a Citi trifecta by adding another Citi cash back card. For instance, the CitiÂ® Double Cash Card can earn you 2% back (1% at purchase, then another 1% upon payment) on all your general spending, or the Citi Custom Cashâ Card â 5% back in your top eligible spend category each month (up to the first $500 spent, 1% cash back thereafter).

With multiple credit cards from one issuer, you can maximize your earnings in one rewards ecosystem and get the most out all it has to offer.

You want to maximize cash back on small purchases

Sometimes, credit card strategies can become quite intricate. Getting as much as you can out of credit card rewards often involves deciding on the best card for each transaction â even the smallest ones.

Speaking of small transactions, thatâs where the Citi Rewards+ truly shines.

Say, youâre running an errand. You grab a $4 coffee, then you stop at a gas station and fill up your car for $22. Later, you drop by a convenience store and get a $2 pack of gum (coffee is the juice of life but coffee breath can also happen sometimes).

With the Citi Rewards+, youâll get 70 points (70 cents) total for these purchases, thanks to the roundup feature.

To compare, say you have another similar card instead. For example, the Wells Fargo Active Cashâ Card earns 2% cash rewards on purchases. Thatâs quite generous, but in the scenario above, youâd only earn 56 cents on your purchases.

Of course, a 14-cent difference might not seem like much, but cash back earnings overall donât inspire much awe if you only look at separate transactions. Cash back works when you help it add up. Even an extra 14 cents earned every day adds up to more than $50 in extra cash back over a year.

If youâre the kind of cardholder who gets excited about squeezing as much value as possible out of each dollar spent, the Citi Rewards+ might be a valuable tool in your strategy.

When is the Citi Rewards+ Card not worth it?

Despite its unique features, the Citi Rewards+ isnât the best choice for everyone, especially in the following scenarios.

Youâre looking for a primary rewards credit card

The Citi Rewards+ has an easy-to-understand rewards system which may be attractive to cardholders whoâd rather avoid juggling multiple high-maintenance credit card products. But while it does offer simplicity, itâs lacking in rewards potential.

If youâd prefer to get a single credit card thatâd earn the same rate on most of your spending, look into other flat-rate cash back credit cards.

The Citi Double Cash and the Wells Fargo Active Cash are the best options in this category. Both offer unlimited 2% cash back on purchases (although with the Double Cash, you need to pay off your purchases first to get the full 2%), while the Citi Rewards+ only earns 2% back in two categories with a $6,000 annual purchase cap.

Youâre looking for a card for gas or grocery purchases

The Citi Rewards+ is also not the strongest offer when it comes to its bonus categories â supermarkets and gas stations.

Some of the best credit cards for groceries can earn up to 6% cash back at supermarkets if youâre comfortable with annual fees. If youâre not, there are still better options.

For example, the Blue Cash EverydayÂ® Card from American Express earns 3% cash back on your first $6,000 in annual spending at U.S. supermarkets (then 1%), giving you a higher return with the same annual cap.

Gas may not be a major spending category for many, but if it is for you, look into the Bank of AmericaÂ® Customized Cash Rewards credit card. It earns 3% back on a category of choice and gas is one of the eligible categories. You can also get 2% back on grocery store and wholesale club purchases. Thereâs a $2,500 combined purchase limit on these categories each quarter, which sums up to $10,000 per year. As you can see, this cardâs earning potential can easily beat that of the Citi Rewards+.

Youâre looking for a travel card

As youâve probably realized by now, the Citi Rewards+ isnât a travel credit card. Even though it technically earns ThankYou points, theyâre “basic” points, meaning you wonât be able to transfer them to Citiâs travel partners.

You can still redeem rewards for travel, but only at a 1-cent-per-point rate.

Additionally, the card has a 3% foreign purchase transaction fee and no travel perks.

Should you get the Citi Rewards+ Card?

The Citi Rewards+ Card can work well if youâre a Citi loyalist or a cash back enthusiast passionate about maximizing the value of each and every dollar you spend.

In most other cases, however, you may find that other cards can offer more value for your spending. Whether youâre looking for a primary rewards credit card, travel card or a card to boost your grocery or gas cash back, the Citi Rewards+ isnât the best pick.

Bottom line

The roundup feature makes the Citi Rewards+ Card a compelling and unique product that can fit into some cardholdersâ spending. Still, for others, this card wonât be worth it.

Analyze your credit card needs and spending patterns and head over to CardMatch to find credit card offers tailored to your credit. Checking your offers wonât impact your credit and you have a good chance of qualifying for your matched cards.

Source: creditcards.com

January 9, 2022

How To Increase Your Income â 30+ Ways To Make Extra Money

Do you want to learn how to increase your income?

There are so many ways to start making more money – from sources of extra income, passive income ideas, ways to make more money at your current job, and more.

One of the things I am passionate about is helping people learn how to increase their income, and that’s because I know how much it can improve your life.

I learned how to make more money so that I could pay off my nearly $40,000 in student loans, which I did in 7 months.

I used a number of the ideas that you’re going to read about today, including taking online surveys and starting this blog.

What I love about learning how to increase your income is that it can make a bigger impact on your overall finances than budgeting alone.

For example, when I was trying to pay off my student loans, I did cut my spending, but there was only so much money in my budget to begin with. I had to start making more money if I was going to pay them off as quickly as I wanted to.

Learning how to increase your income can help you:

Save for large purchases, such as a vacation
Stop living paycheck to paycheck
Pay off debt, like credit card debt or student loans
Help you reach retirement sooner
Become more diversified with your income streams

One of the most common ways to increase your income is with a side hustle. But today’s article will contain more than just side hustles. Perhaps you’re not looking to work more hours (or you simply just don’t have the time), but you still want to make extra money.

Whether you have just one free hour each day or if you are willing to work 40 to 50 hours a week on top of your full-time job, there are many options when it comes to learning how to increase your income.

Here’s how to increase your income

Find a side hustle.

Of course, I have to include finding a side hustle as the top way to increase your income. After all, this is how I paid off my $40,000 student loan debt in just 7 months.

What’s great about finding a side hustle is that there are lots options for side hustles right now, and many people have extra time to start one.

Whether you’re looking for something that is just a few hours each week or something with nearly full-time hours, there are so many different options.

Here’s how to increase your income with a side hustle:

Start a blog – This is the first thing I recommend to anyone interested in learning how to increase your income, and this is because it helped me make more money, pay off my student loans, and completely change my life. Join my Free How To Start A Blog Course if you’re interested in learning more.
Get paid to answer surveys online – Answering surveys online won’t make you rich, but if you want to know how to increase your income from home, this is one of the easiest ideas. Survey companies I recommend include American Consumer Opinion, Swagbucks, Survey Junkie, Branded Surveys, and Pinecone Research. These survey companies are free to join and free to use! You get paid to answer surveys and to test products. To receive the most survey opportunities, it’s best to sign up for as many survey sites as you can.
Join a focus group – You can get paid $50 to $100 per hour by joining a focus group with User Interviews.
Sell printables online – Creating printables on Etsy can be a great side hustle. Because you are creating PDF files, you can create and sell them an unlimited number of times without much additional work. You can learn more at How I Make Money Selling Printables On Etsy.
Rent out your RV – Many RVs sit unused in storage lots, driveways, and backyards, making this a great way to make extra money. You can learn more at How To Make Extra Money By Renting Out Your RV.
Walk dogs or pet sit – Walking dogs and pet sitting can be a great way to grow your income for anyone who loves animals. You may be going over to your client’s home to check in a few times a day, you may be staying at their house, or the animals may be staying with you. Rover is a great company to sign up for if you’re interested in becoming a dog walker and pet sitter.

Please head to 80+ Best Side Job Ideas To Make Extra Money to learn more.

Make more money at the job you already have.

If you’re already employed and not interested in learning how to increase your income with a side hustle, one idea is trying to earn more at your current job.

Perhaps you have limited time, or you’re looking to simply make more efficient use of your time.

Find overtime hours to work – One way to make more money at work is to see if your company will allow you to work overtime. Some companies welcome overtime, and you can earn a decent amount of money by doing so.
Go for a raise – One way to grow your income, without possibly adding any additional work hours to your life, is by asking for a raise. Many employees do not ask for raises, so you might be leaving money on the table. Over numerous years, this can add up to a significant amount of income! If you’ve just successfully completed a big project or taken on new responsibilities, then it might be time to ask for a raise and state your case.
Seek out a promotion at work – If a raise is not possible without a different position, then you may want to try for a promotion that comes with a pay bump. Sometimes companies can only pay you so much for the job you currently have, but you may be able to increase your pay through a promotion with different and/or additional job duties, a possible move, etc.

If you want to learn how to increase your household income, you and your partner could both look into the tips I just gave. Can you imagine how much extra money you may be able to bring in if the both of you got raises, for example?

Sell items to increase your income.

Here’s a question I get often: How can I increase my income quickly?

Selling is one of the fastest ways because most people have things sitting around their house that they can quickly sell to make extra money.

Here’s how to increase your income selling stuff – more than just selling things around your house:

Have a yard sale – A yard/garage sale can be an easy way to make extra money because people come straight to your home. The only downside is that you usually don’t make as much for your items as you would if you were to sell them on sites such as eBay, Craigslist, or Facebook Marketplace.
Flip items for resell – One reader’s family was able to make $42,875 in one year buying and flipping items for profit, and they were only working about 10-20 hours per week. You can read more in How Melissa Made $40,000 In One Year Flipping Items.
Sell items on eBay – eBay is a great place to start, as nearly anything and everything can be sold on eBay.
Sell items on Craigslist – Craigslist is another website where you can sell pretty much anything and everything, from clothing to cars. Sales are posted online, but the money and goods are usually exchanged in person at an agreed upon meeting place.
Sell things on Facebook Marketplace – Facebook Marketplace is probably one of the most popular places to sell online right now. Here, you can find buyers in your area, but for larger items, like cars and furniture, buyers are often willing to travel or pay for shipping. Plus, because you are probably already on Facebook, this is one of the easiest ways to sell your stuff, and it’s free.
Sell on Poshmark – Poshmark is one of the most popular places online for people to buy and sell new or gently used clothing, shoes, and more.
Sell to second hand stores – There are many second hand stores out there that will take your clothing and shoes. Stores such as Plato’s Closet and Buffalo Exchange will pay you upfront for clothing, and they take all of the legwork out of selling items, which is really helpful. There are also second hand stores for designer items, women’s clothing, children’s items, and more. Some pay upfront, whereas others may not pay you until after the item has sold. It simply depends on the store’s policy.
Sell your new or gently used sports gear – Play It Again Sports is one of several second hand stores that buys and resells sports equipment and workout gear. These kinds of items also sell well on eBay, Craigslist, and Facebook Marketplace.
Sell on Etsy – Etsy is a great place to sell handmade items, vintage finds, and craft supplies.
Sell your gift cards – If you have gift cards that you aren’t going to use, why not sell them to earn extra money?

Credit card rewards to get cheap travel and cash back.

I have been using credit card rewards for years now, and they can be quite easy to use.

While you’re not exactly “earning income,” it is a way to earn more for travel.

There are lots of great rewards cards out there, but what is best for you depends on what you’re looking for.

Maybe you want travel points?
Cash back?
Or maybe you want a card that pays you for grocery shopping and eating out?

Fortunately, there is something for everyone.

Note: Please head to Best Rewards Credit Cards to see the best rewards credit cards.

Put your money into a high yield savings account.

If you want to learn how to increase your income without working more, you need passive income ideas. Some are easier than others, and putting money into a high yield savings account is one of the easiest.

While they won’t make you rich, high yield accounts are a great way to grow your savings, but most people have their money in accounts with low rates. Unfortunately, that means many of you are losing out on some easy cash!

If you’re like most people, you probably don’t even know what interest rate you’re getting on your checking and savings accounts. You were probably told the percentage when you opened your account, but that could have been years ago.

If you’re looking for a free checking account, as well as a higher than average interest rate on your savings account, look no further!

With Betterment Everyday, you can start earning 0.30% with a balance as low as $0.01.

To get started and open a Betterment Everyday account, simply click here and sign up. Signing up is super easy.

Read more at How To Earn Over 20x The National Savings Rate.

Become a landlord with rental real estate.

Earning rental income each month can significantly increase your cash flow.

Whether you want to rent your home, apartment, be active on Airbnb, commercial real estate, or something else, there are several options that you may be interested in.

If you want to learn how to increase your income with real estate, you will want to read these two interviews:

In these interviews about being a landlord, you will learn:

How each person was able to afford several rental property
What they look for in a rental property
The types of real estate property they invest in
How much time and money it takes to invest in a rental property
How they manage rentals that aren’t local to the area
Their worst renter stories
The sacrifices they had to make to make this becoming a successful landlord possible

Rent out a room in your home.

Not everyone is in the position to buy rental property, but renting a room in your house can give you an idea of what it’s like to be a landlord.

We had several roommates when we owned a house, so I know a lot about how to increase your income with roommates.

Renting a room in your home can help you grow your income by several hundred dollars or even thousands of dollars a month. I know of a few people who rent out many rooms in their home and have been able to pay off their home completely due to this.

I recommend reading A Complete Guide To Renting A Room For Extra Money.

Earn dividends from your investment portfolio.

This does take some money to start, but there are ways to start investing and earning dividends without much money.

Here’s how Investopedia defines dividends:

“A dividend is the distribution of reward from a portion of the company’s earnings and is paid to a class of its shareholders. Dividends can be issued as cash payments, as shares of stock, or other property, though cash dividends are the most common.”

By investing in dividend paying stocks, you may be able to earn a sizable passive income with very little work needed to be done. This is one of the riskier passive income ideas, because there is no way of knowing exactly which stocks will earn money and what the stock market will do over time.

But, investing is one of the best ways you can learn how to make the most of your income because you’re making money from your money.

To understand the risks and how to start, read How I Became A Successful Dividend Growth Investor and How To Start Investing For Beginners With Little Money.

How can I increase my income at home?

If you want to work from home, there are many things you can do.

I love being able to work from home. There’s no commute, I can make my own schedule, and more.

There are many different options for working from home, depending on what you are looking for, including:

Find a proofreading job – Do you enjoy finding errors? You can learn more about how to become a proofreader at Make Money Proofreading By Becoming A Freelance Proofreader.
Sell templates online – You can start creating Canva templates to sell and make money all from your home and never have to ship a thing. You can learn more at How I Make $2,000+ Monthly Selling Canva Templates.
Start writing for others online – A freelance writer is someone who writes for a number of different clients, such as websites, blogs, magazines, and more. These writers don’t work for one specific company, rather they work for themselves and contract out their writing. Learn more at How I Earn $200,000+ Writing Online Content.
Become a virtual assistant – Becoming a virtual assistant is one of the most popular work from home jobs, and it is growing like crazy. More and more companies need virtual assistants. Virtual assistant tasks may include social media management, formatting and editing articles, scheduling appointments or travel, email management, and more. Basically, you get paid to do any task that needs to be done for someone’s business but doesn’t need to be done by them. You can read more about how to make $10,000 per month as a virtual assistant.
Search for a bookkeeper position – You don’t have to be an accountant or have any previous experience if you want to learn how to increase your income as a bookkeeper. Learn more at How To Become A Bookkeeper.
Build an online store – Did you know that you can create your own online store to earn extra money? Jenn, a reader of mine, started her online business a little over four years ago, and since then she has developed and grown three successful online ecommerce stores earning an average of $19,000 per month. Learn more at How Jenn Makes Over $10,000 A Month With Her Online Store In Less Than 10 Hours Per Week.
Sell on Amazon – You can sell items on Amazon and make a great income doing so. Learn more at How To Work From Home Selling On Amazon FBA.

You can learn more at 12 Work From Home Jobs That Can Earn You $1,000+ Each Month.

Find a part-time job.

The classic answer to how to increase your income is finding a part-time job, and it’s still a great option for many people today.

Some examples of part-time jobs may include:

Finding a part-time job during the holidays – Examples include working at a retail store (they tend to ramp up hiring before the holidays), working at a tree lot, finding a job at a costume store or haunted house, and more.
Deliver RVs to dealerships – This is more of an untraditional part-time job, but it sounds like a fun one. The majority of the time RVs can’t be transported by semi-trucks because of their size. This means someone has to drive them from the manufacturer to the RV dealership. To make extra income doing this, you can contact RV manufacturers and RV dealerships to see what opportunities they have.
Search for a seasonal job – If you have a job that gives you the summers off (or whatever season), then finding a part-time seasonal job could be a good way to earn extra money during your time off. Employers like Starbucks, REI, and Costco even offer benefits for part-time work, which adds even more value to the job.
Work at a restaurant – You could be a host, wait tables, bus tables, bartend, and so on.
Substitute teach – Sometimes the schedule can be tricky as you may be called at the last moment, but other times you may secure a long-term position.
Work at a retail store – I worked in retail for over five years and made lifelong friends in the process. The income is okay, but you usually receive a good discount when working in retail.
Deliver food – There are so many different options for delivering food nowadays. Between working directly as a delivery driver for a restaurant, or for a food delivery company like Grubhub.
Deliver newspapers – Delivering newspapers can be a good way to make some side money. You may have to wake up early, but maybe those are the hours you are looking for.
Run errands for others – Being someone’s assistant can be an interesting way to earn extra money. You may get paid to do someone else’s laundry, clean their home, pick up their food, answer phone calls, and more.

How can I make $100 a day?

Some of the ideas above may allow you to earn $100 a day, whether that means you want to earn $100 every single day for the month or just occasionally earn $100 a day.

You can learn more at How To Make $100 A Day.

How do I make an extra $1000 a month?

Figuring out how to make $1,000 a month can be life changing for many people, and maybe this is exactly why you want to learn how to increase your income.

There are several different things you can do to make an extra $1,000 a month.

Some may be easier than others (such as asking for a raise versus finding a part-time job or starting a side business), but there are many different options depending on what you are looking for.

Please head to Ways To Make An Extra $1,000 A Month to learn more.

How can I increase my income quickly?

Some of the items above will be quicker than others.

If you’re due for a raise, that may be one of the quickest ways to make more money without too much additional work.

If you have a lot of items to sell around your home, that can be a way to make money the very same day.

There are many ways to increase your income, simply find the best one that suits you and your lifestyle.

What are you currently doing to learn how to increase your income?

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Source: makingsenseofcents.com

Pay Down Your Debt

Open a High-Yield Savings Account

Grow Your Wealth Through Investing

Take Advantage of Credit Card Rewards

Start a Passive Income Stream

The Bottom Line

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What to expect with refunds to your credit card

Can you keep credit card rewards after you return a purchase?

Thereâs a loophole to let you keep your rewards

Bottom line

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Conclusion

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Bank of America Customized Cash Rewards card basics

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How does Chase Offers work?

Restrictions and drawbacks with Chase Offers

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Chase Offers is only available in the U.S.

Types of deals you can find

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5. Ask for a Limit Increase; Pretend You Never Got It

6. Prioritize Credit Card Debt Over Loans

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9. Still Overwhelmed? A Debt Consolidation Loan Could Help

10. Keep Your Credit Score in Perspective

Additional Resources

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Youâre building a Citi card combo

Youâre looking for a primary rewards credit card

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