Is it better to use Cash or Credit? There are some who swear off credit cards completely, believing they only bring financial ruin to most. At the same time, others swear by credit cards for their security, convenience and rewards. While this isn’t a one-size-fits-all issue, it’s worth considering the pros and cons of cash versus credit transactions. Ultimately it’s a personal decision and you have to decide what works best for you.

To give you a few things to consider we have come up with the following:

The Benefits of Spending Cash

• Control Spending: Spending cash can help many control how much the spend in two ways. First, as the old saying goes, you can’t spend what you don’t have. If you stick to cash, once you’re out, you’re out. Second, study after study has shown that many folks tend to spend less many when they use cash as compared to credit. I think this is true. For example, if you only have $20 bucks on you then you can’t spend $30. This isn’t the case when using a credit card.
• Avoid Fees & Interest: By spending cash, you eliminate the possibility that you’ll pay interest charges or credit card fees. And if interest and fees start to rack up, they can create a snowball of financial turmoil that’s hard to stop.
• Accepted Everywhere: I have yet to find a place that doesn’t accept cash. On the otherhand, there still are some places out there that don’t accept plastic. If you carry cash then you can be pretty sure you aren’t going to get turned away.
• Possible Discounts: Some places will give you a discount if you use cash instead of a card. Remember, it costs to process a credit or debit card transaction. If you are willing to pay cash then it might save you some money.

The Benefits of Using Credit Cards

• Security: There is no doubt using a credit card is safer than using cash. If you lose your cash it can’t be replaced. If your credit card is lost or stolen and it is used without your permission the most you can be held liable for is $50. Also, you have the ability to dispute a charge if a purchase goes wrong when using a credit card.
• Rewards: Credit cards that offer cash back, travel or other rewards can pay off, so long as you pay the balance off in full each month. Just putting everyday spending on a card can result in hundreds of dollars in cash back rewards each year.
• Better Tracking: When you use credit you can keep close tabs on how you spend your money. Managing your money is much easier because it’s done electronically. You don’t have to keep receipts and write down transactions because it’s done for you. Plus, if you use money management programs like Quicken or Mint.com you can easily export your transaction history and manage all your accounts in one place.
• Interest Free: If you pay your balance off each month then you are bascially getting an interest free loan for 20 to 30 days based on your billing cycle. This is about the only time you can borrow money from a bank with no intrest. Also, you can always take advantage of an offer that gives 0% for a longer time period like 12 months. This is ideal for a big purchase that you might need extra time to pay off.
• Purchase Protections and Waranties: Many credit cards come packed with purchase protections and waranties which safeguard your purchases. This extra security helps you in the event you purchase an item that ends up being damaged or has a defect. Each card works different so you have to check the terms of your agreement, but this type of protection can save you money.

Photo Credit: YIM Hafiz via Flickr

It’s a no-brainer that the lower a credit card’s interest rate, the better, right? Well, not so fast. It turns out that low interest rate credit card offers are not always the best option. While this seems counter-intuitive, it is a really important consideration when evaluating credit cards. To understand why, consider the following:

• A credit card’s interest rate only matters if you have a revolving balance. Pay off your card every month, and you pay no interest at all, regardless of the interest rate.
• Many low interest credit cards do not offer other card features, like cash back or travel rewards, or they offer these incentives in lower amounts than other cards.

To see this in action, let’s take a look at two card offers: Iberia Visa Classic and Discover More card.

• The Iberia Visa Classic offers one of the lowest interest rates available from a credit card. Based on your credit, you might qualify for a rate of either 7.25%, 10.25%, or 13.25%. The card comes with an introductory rate of 0% balance transfers for 6* months, but no other rewards.
• Discover More comes with an interest rate ranging from 10.99% - 20.99% (Variable)*, depending on the cardholders’ credit history. At those rates, the Discover More card charges an interest rate roughly 2x to 3x more than the Iberia card. But it comes with much richer rewards. The card offers an introductory rate of 0% for 15 months on purchases & balance transfers*. It also comes with rich cash back rewards as high as 5% to 20%.

So as between Iberia Visa Classic and Discover More, it’s the higher interest rate card that would be best for many who pay off their card each month. In fact, even the occasional revolving balance for a month or two may still favor the higher rate Discover card.

Why do higher interest rate cards often offer better benefits? The simple answer is that with higher interest rates, the card issuer has more revenue that it can use to fund richer reward programs. Cards with rates as low as 7.25% can’t offer the same rewards and still turn a reasonable profit. Of course, if you regularly carry a balance on your card from month-to-month, than the lower interest rate card is probably the best bet.

There are, however, some cards that offer both lower interest rates and rich rewards. Another good example of this type of card is the Capital One® VentureSM Rewards Credit Card. The No Hassle Miles card comes with an interest rate between 11.9% - 19.9% (V)* and offers up to 2x miles for every dollar spent.

Generally lower interest rate cards offer fewer rewards, but you can find offers like the Discover More Card and the Capital One® VentureSM Rewards Credit Card that give you the best of both worlds. So if you pay off your card each month in full, remember that the interest rate on the card may not be the most important consideration.

A question that often stumps many is whether it’s better to use a debit card or a credit card when making a purchase. Just for a quick recap. A debit card requires you to enter a PIN (personal identification number) when you use the card at a retail store (as if you were withdrawing money from an ATM) and you can get cash back. A credit card doesn’t require a PIN, you can’t get cash back, and you must sign the merchant’s receipt copy if the purchase is more than $25.

The confusing part is that today, banks issue Visa and MasterCard branded debit cards, so the same card can function as either a debit card or a credit card. With these joint cards, the money is taken from your linked checking account regardless of whether you use the card in a debit or credit transaction. And because of this, many folks incorrectly believe it makes no difference at the store whether you use the card as a debit or credit transaction. But as Paul points out in the article, the choice you make is really important.

So the next time the store clerk as you “debit or credit,” keep the following in mind. First, credit transactions tend to be more secure than debit transactions. Debit transactions are processed through the electronic funds transfer system, with comes with fewer cardholder protections. There is also a second consideration to keep in mind–rewards programs.

Many debit/credit cards today come with rewards programs. Our debit card earns us American Airlines miles. But here’s the catch. We only earn those miles for transactions that are processed as a credit. Why? Because debit transactions are not processed through the credit card issuer. As a credit transaction, the credit card company earns a percentage of the transaction from the merchant, which helps pay for the rewards program. So if you want to earn the miles or points or cash back that your bank card may offer, always use the card as a credit card, not a debit card.

I love our dog. Her name is Sophie, and that’s her picture above. One thing we’ve learned the hard way over the past two years, however, is just how expensive a pet can be.

Regular trips to the vet can quickly put a dent in our bank accounts, not to mention the unforeseen costs that can take place if an emergency occurs. If you’re like my mom and have more than one furry friend, then your costs can double or even triple before you know it. She has two dogs and is temporarily fostering a third. Just over the last week an unplanned trip to the vet cost her $400. One option that I have recently found that can make these costs a bit more manageable is Care Credit.

Care Credit is a personal line of credit that can be used for your pet care and your health care expenses. It works just like a credit card, but can only be used for health care services. The great thing is that it can be used for all members of the family, even the four legged ones.

The card offers a no interest option on every purchase you make. All you have to do is pay your minimum monthly payment and pay off the balance by the end of the promotional period. Not all health care providers take Care Credit, however, so be sure to check first.

Below are the two interest options Care Credit offers its card members. The no interest option is a deferred interest plan, which means the accumulating interest will be charged to you if you don’t pay the balance off in the agreed upon time frame or if you are late on the monthly minimum payment.

Important: Because terms and conditions can and do change frequently, be sure to check with Care Credit before applying for a card.

No Interest Option

The Care Credit Card offers no interest on your purchases if paid within 3, 6, 12, 18 or 24 months. A $300 minimum purchase amount is required for plans longer than 3 months on the CareCredit account. A monthly payment is required, but no Finance Charges will be assessed if you meet the following restrictions: On promo purchase balance, monthly payments required, but no Finance Charges will be assessed if (1) promo purchase balance paid in full in 3, 6, 12, 18 or 24 months, (2) all minimum monthly payments on account paid when due, and (3) account balance does not exceed credit limit. Otherwise, the promo may be terminated & Finance Charges assessed from purchase date.

On promotions requiring a minimum payment, payments over the minimum will usually be applied to those promo balances before non-promo and other balances. If you have a non-promo balance, this may reduce the benefit from the promo.

Extended Payment Plans

This option is valid on purchases of $1000 or more (24, 36, 48 months) or $2500 or more (60 months) made on the CareCredit account. On promo purchase, fixed monthly payments equal to 4.7966% for 24 months, 3.4129% for 36 months, 2.7276% for 48 months, or 2.3216% for 60 months required, but finance charges will be applied to promo balance at the reduced daily periodic rate of .03808% (ANNUAL PERCENTAGE RATE 13.90%) if (1) promo purchase paid in full in 24, 36, 48 or 60 months, (2) any minimum monthly payments on account paid when due, and (3) account balance does not exceed credit limit. Otherwise, promo may be terminated.

Bottom Line

I have read both favorable and unfavorable reviews on Care Credit. All the unfavorable reviews stem from the deferred interest part of the card. It is important to understand that in this case the No Interest option is a deferred interest rate. This means that if you don’t pay the balance off in the required amount of time, then the accumulated interest will be added to the balance of your card. In the event that this happens, it could add hundreds of dollars onto your balance.

There are several very good interest free cards that may make a good alternative to Care Credit.

The Membership Rewards Program from American Express allows you to earn points for every dollar you spend with your eligible American Express card. There is no limit to the number of points you can earn and your points never expire. The program is a built-in feature of most American Express cards. You might already be enrolled, but if you’re unsure, you can log into your online account and check. This article provides an overview of the rewards program and a list of eligible American Express cards.

Earning Points

Once you are enrolled in the Membership Rewards Program, you can earn points every time you use your Card. Using your Amex card for every day purchases is a fast and easy way to earn points. There are also ways you can earn bonus points when you shop with select partners at membershiprewards.com or at the Bonus Points Mall® website (bonuspointsmall.com).

If you ever get to a point where you don’t have enough points to redeem your reward, you can use the Points Advance® feature to help build your points. With the Points Advance feature, you can advance up to 15,000 points. You can also purchase additional points at checkout so you don’t have to wait, either.

Here’s how you can earn your points:

• Use your Card: Earn points for virtually every dollar you spend on your Card.
• Bonus Points Partners: Go to the Earn Points section of membershiprewards.com to explore opportunities to earn up to 10X points when you shop with select partners.
• The Bonus Points Mall® Website: Go to bonuspointmall.com every time you shop online to earn 3X bonus points with more than 200 popular sites.
• Automatic Bill Pay : Pay your recurring bills through American Express to earn more points.
• Additional Cards: Get points faster by sharing the privileges and benefits of your account.

Using Your Points

You can redeem Membership Rewards points for a variety of rewards that are just for Cardmembers at membershiprewards.com. You can also check out the more than a million products offered online at shopamex.com, where you can use points. And if you don’t have enough points, you can use points in combination with your eligible American Express® Card.

You have a variety of options to redeem your points for travel . You can use your points to pay for vacations, you can transfer points between accounts, and you can redeem your points for travel certificates. Here are some of the options you have when it comes to using your points for travel:

• Pay with Points : Pay for all or part of your next trip using Membership Rewards points. Fly any airline anytime with no blackout dates or seat restrictions. You can also book hotels, cruises, and vacation packages simply by going www.membershiprewards.com/paywithpoints.
• Transfer Points: Top off your frequent traveler accounts by transferring Membership Rewards points to your linked frequent flyer/frequent guest accounts. Get the points needed for a reward flight, stay, or upgrade.
• Certificates: Use Membership Rewards points for exciting travel reward certificates, including hotel stays, flights, theme parks, adventure travel, or car rentals.
• Flight Finder Room Finder: Search for reward travel, transfer Membership Rewards points to your favorite frequent customer programs, and book your flight or room entirely with points, all on the Membership Rewards website.

If you like to shop then you will enjoy the shopping benefits the program offers. You can use Membership Rewards® points on www.Amazon.com to pay in full, or pay in part and use your American Express® Card to cover the rest. All you do is go to www.Amazon.com/membershiprewards and complete a one-time registration and then start shopping. You can use points or a combination of points and your eligible American Express Card to choose from more than a million products from some of your favorite online stores and this is all done without leaving the shopamex.com site.

How To Enroll

The Membership Rewards program is a built-in feature of most American Express® Cards and you might already be enrolled. If your Card is not enrolled, just log in to your account, select the “Points Summary” link, and then the enroll button. You may link all of your eligible American Express® Cards to the Membership Rewards program, along with any Additional Cards you have on these accounts. You can also link any eligible Corporate Card issued in your name for a fee.

Eligible Amex Cards

• American Express® Traditional Green Card
• American Express® Senior Card
• American Express® Traditional Gold Card
• American Express® Green Card
• American Express® Gold Card
• American Express® Premier Rewards Gold Card
• The New Business Gold Rewards Card® from American Express OPEN
• Blue from American Express® Cards
• Zync from American ExpressSM
• Blue Cash Everyday SM from American Express
• Business Gold Rewards Card
• The Platinum Card® from American Express

The Citi ThankYou Network is a credit card rewards program. It lets you earn points in multiple ways and pool them in a single account so you can get the rewards you want faster. Having carried both a Citi credit card and debit card for years, I’ve become familiar with Citi’s ThankYou reward program. And I thought it would be a good time to review the program, including how you can earn ThankYou points and what you can do with them once you have them.

Ways To Earn Citi ThankYou Points

The program enables you to earn ThankYou Points when you make a purchase with an eligible Citi® credit card, Citibank® debit card or an enrolled Morgan Stanley Smith Barney FMA® Card. You can also earn points for banking with Citibank with an enrolled checking account, booking eligible travel with Expedia® or shopping at over 300 retailers through the ThankYou Bonus Center run by Citi. Here’s a quick summary of the various ways you can earn ThankYou Points:

• Participating Citi® credit card. Here is a list of the cards that are part of the ThankYou network:
  • Citi ThankYou Premier Card
  • Citi Forward Card – $300 Gift Card
  • Citi ThankYou SM Preferred Rewards Card – $100 Gift Card
  • Citi Forward® Card
  • Citi ThankYou(SM) Preferred Rewards Card – $250 in Gift Cards
  • Citi Forward® Card for College Students
  • CitiBusiness® World Card
• Morgan Stanley Smith Barney FMA® Card enrolled in ThankYou Network
• Having an enrolled Citibank checking account and other linked banking products and services
• Shopping through the ThankYou Bonus Center with over 300 major retailers, or in-store using a participating Citi® credit card
• Plus, get bonus points through special ThankYou® Network promotions
• Points with Citi®–You can earn points for every $1 spent on purchases with your Citi Credit Card. You can get points for using your Citibank checking account and other qualifying Citibank products and services.
• Points with Expedia.com®–Expedia.com® is the exclusive travel sponsor of ThankYou Network. You can earn points when booking eligible travel on Expedia.com® no matter how you pay. If you’ve got a Citi Credit Card or Citibank Debit Card, use it to book your travel and earn even more points.
• Points for Shopping–You can get rewarded for shopping at your favorite retailers. Points are earned when you shop online by linking through thankyou.com, or in-store by using your Citi Credit Card. Shop at over 400 online retailers, such as Macy’s, Best Buy, and Target—and earn additional points for every dollar you spend. Use your Citi Credit Card at a growing number of stores, such as Timberland, Eddie Bauer or FAO Schwarz—and earn additional points for every dollar you spend. Also, when you make purchases from participating catalogs or purchase gift certificates, you’ll earn additional points for every dollar you spend.

Purchasing Points

You may purchase ThankYou Points in increments of 1,000 points for $25 charged to any eligible credit or debit card, regardless of whether it is a Citi card or not. You may only purchase points if you have points in your ThankYou Member Account that were earned through one of our Sponsors. When you purchase points with a credit card or debit card that participates in ThankYou Network, you get the points you purchased, as well as ThankYou Points for making the purchase using your card.

Purchased points are non-refundable. A purchase cap of 10,000 points per calendar year will apply. You may not purchase points to offset any PremierPass Flight Points. All points purchased will expire one year from the end of the month in which they were purchased.

Where and How You Get Rewards

Once you have accumulated points, the ThankYou Network has a variety of rewards, which can easily be found on their website.

• 1.You can redeem ThankYou Points for statement credits, issued in the form of a billing statement credit to the Card Account of the ThankYou Member, in denominations of $15, $25, $50, $100, $175 and $250 only
• You have the option to receive cash back if you choose. You can redeem your ThankYou® Points for a $50 Cash Reward. There is no annual dollar cap or limit to the number of cash redemptions you make. For every 8,000 points equals $50 cash back. All cash rewards are mailed directly to your address on file.
• You can redeem ThankYou Points toward any student loan program or monthly mortgage payment issued in the form of a check made payable to your financial lending institution – mortgage or student loan program only; in denominations of $25, $50, $75, $100, $250, $500, $750 and $1000 only.
• You have the option to cash in your points for a charitablie gift. You can redeem ThankYou Points for charitable contributions, issued in the form of a check made payable to the charity, in denominations of $5, $25, $50, $75 and $100 only.
• There are a number of other rewards to choose from which inlcude gift cards from a wide variety of retailers and resteraunts. To help you find your rewards there is a rewards page that will get you started.

If you’re a registered ThankYou Member, you can add rewards you find to either your Wishlist or the cart. A complete list of the available rewards can be found on the Terms and Conditions page.

All Cash Rewards redemptions are final. ThankYou Points redeemed for Cash Rewards cannot be returned unless the check has been cancelled by ThankYou Network and a stop payment is placed, resulting in a return order status and automatic reinstatement of member’s ThankYou Points into their ThankYou Member Account. Please note that a check may be cancelled if, for example there was a misspelling on the check or the member never received it. All Cash Rewards checks not received 10 days after shipment are to be reported to ThankYou Network as lost/stolen.

You can also redeem for rewards by calling the Service Center at 1-800-THANKYOU. The lines are open Monday to Friday, 8 a.m. to 1 a.m. ET and Saturday 9 a.m. to 9 p.m. ET. Your Wish Fulfilled allows you to redeem your ThankYou Points to create your very own reward. All you need is 10,000 points in your account to get started.

When it comes to credit cards and all the in’s and out’s it can get confusing to say the least. There are so many different terms, rates, conditions, fees and it doesn’t stop there. This article has be developed to give the meaning to 32 different credit card terms we so often hear. It doesn’t matter if your an experienced card user or just applying for your first card this article can help you sort through the lingo.

Annual Fee: This is the fee that is charged once a month for the maintenance of the account. Some cards do not charge an annual fee.

APR: This is the yearly rate of interest. When it comes to credit cards, the better the rate, the better the offer. You can avoid paying interest by paying your balance off each month. Check out our list of the Best 0% Card Offers.

Available Credit: The amount of credit the card holder is able to use. It can be computed by subtracting the outstanding balance from the total line of credit.

Average Daily Balance: The average daily balance method of calculating finance charges uses the average of your balance during the billing cycle. Your average daily is the sum of your balance on each day of the billing divided by the number of days in the billing cycle.

Authorized User: Someone listed on the account, in addition to the account holder, who is able to use the account. The authorized user is not responsible for making payments on the account.

Balance Transfer: This is the process of moving a balance from one credit card to another. Credit card companies often offer a special interest rates for balance transfers to encourage people to apply for the card. You can take a look at our top Balance Transfer Card Offers.

Billing Cycle: The number of days in the billing period. It includes the day after the previous close date through the current closing date of the account.

Co-Signer: A co-signer is need when the person applying for a credit card doesn’t have the credit needed to obtain the card. A co-signer can be added to the account to meet the credit criteria required by the card issuer. The co-signer is responsible for the account if the payments are not made by the account holder.

Cash Advance: Cash withdrawn from the available credit of your credit card account. There is no grace period for cash advances. Interest accrues daily and at a higher APR until the complete balance is paid in full. The interest rate is usually very high and can cost you a great deal of money.

Credit: This is the promise to repay the accumulated debt or the amount borrowed. It allows you to buy now and pay later.

Credit Bureau: This is a company that collects information from various sources and provides consumer credit information on individual consumers for a variety of uses. The three major credit bureaus are Equifax, Experian, and TransUnion.

Credit Limit: This is the amount you can carry as a balance on your credit card. This is also known as the line of credit.

Credit Score: This is also known as a credit rating. Lenders use your credit score to determine if they will give you a loan or line of credit.

Finance Charge: This is a fee charged for using a credit card. It is made up of interest cost and other fees.

Grace Period: This is the period between date of the credit card statement and the date the full payment is due in order to avoid paying interest on funds borrowed.

Interest: This is the finance charge or the fee for borrowing the money. On your card statement it is listed under the Monthly Finance Charge.

Interest Rate: The percent over a specific time frame that the bank charges a customer for borrowing money. It is the same as the Annual Percentage Rate.

Introductory Rate: This is a special rate card issuers give in order to make their card more appealing. The special rate is good for a specific time frame at a specific rate. An example would be a card that offers 0% on purchases for 6 months.

Issuer: A financial institution that issues credit cards such as Visa® or MasterCard®.

Joint Account: This is an account that belongs to two people. Each person shares the responsibility of the account including making payments on the account. The account equally belongs to both people.

Late Payment Fee: The charge received when the monthly payment is received past the due date.

Monthly Finance Charge: This is the charge applicable when the card balance is not paid in full. It is calculated by multiplying the Average Daily Balance on the account by the monthly Finance Rate or APR.

Minimum Monthly Payment: The minimum amount due that must be paid each month to keep the account from becoming delinquent.

Outstanding Balance: The amount you owe on your credit card. This is the balance used to calculate payments and on which interest is charged.

Over The Credit Limit Fee: This is the fee applied when the credit limit is exceeded. Some cards charge this fee, but not all. Typically, this fee is around $35.

Payment Due Date: The date the payment is due in order to avoid a late fee or risk losing a special rate.

Prime Rate: The prime rate used is taken from the Money Rates column of The Wall Street Journal. The prime rate is merely a base rate used to make loans to certain borrowers. It is not necessarily the lowest or best rate at which loans are made.

Purchases: A purchase is just any sort of charge made on your credit card. Some cards offer special interest rates for new cardholders on their purchases.

Secured Credit Card: A credit card that a cardholder secures with a savings deposit to ensure payment of the outstanding balance if the cardholder defaults on payments. In other words, this is the type of card that requires a security deposit. A Secured Credit Card is a great tool to use to build your credit, especially if you have had credit issues in the past.

Total Finance Charge: The sum of the Monthly Finance Charge and any Cash Advance Transaction Finance Charges (or the Minimum Finance Charge, if applicable).

Unsecured Credit Card: A credit card that is not secured with collateral or does not require a security deposit. A customer qualifies for an unsecured credit card based on their credit history. The better your credit and the better chance you will have to qualify for this type of card.

Variable Interest Rate: Percentage that a borrower pays for the use of money, and which moves up or down periodically based on changes in other interest rates.

Our credit scores are so important to our financial well being that when our score is not good we would love nothing more than a quick fix to magically give a boost to our ever so important three digit number. Well, unfortunately there is not a magic formula for improving a credit score, but there are certain things you can do to quickly improve your score.

The last thing you probably think about when you have a score that has seen it’s better days is fixing your score with the help of your existing credit cards. If you have credit card accounts that are bringing down your score you can use these accounts to turn your score around. By taking a close look at what’s going on with your credit card accounts you might find just ticket you need to start improving your credit score quickly.

To get you started we have put to together a list of ways you can improve your credit score quickly with the help of your credit card.

Pay Down Your Credit Cards

One of the best things you can do for your credit score is to pay down any credit card debt you have. Now, some times this might be easier said than done, but paying off your credit card debit will do wonders for your credit score. This is especially important if you don’t have a great deal of credit history. Focus on paying down your balances and not so much on paying off high interest rate balances first. This will help get your accounts paid down as fast as possible. However, if you have cards with a high rate then this would be a good time to consider a balance transfer credit card. This can save you a fortune in interest.

Don’t Max Your Cards Out

This is probably an obvious one, but nevertheless it’s important to understand the reason why. If you exhaust your entire credit limit then it will bring down your credit score. One huge factor in determining your FICO score is your debt to credit ratio. The higher your credit card debt compared to your available credit, the lower your FICO score can be. The best thing for your credit is to keep your debt as low as possible and the better off you will be. Plus, when you have credit card accounts that are maxed out that does not look good to lenders who are considering lending you money.

Request a Credit Limit Increase

One way to quickly change your debt to credit ratio is to have your credit limit increased. For example, let’s say you have card balance of $4,000 and your credit limit is $5,000 – this would mean you have used 80% of your available credit. If your credit limit was increased to $7500 then your debt to credit ratio would automatically be lower and you would then only utilizing 53% of your available credit. If you have a solid history with your card company this could be exactly what gives your score a boost.

Become An Authorized User

One full proof way to help your credit score is to become an authorized user on an account that has a long, good credit history. The older the credit history, the better it will be for you. Ask a parent or family member to add you to their account as an authorized user. This doesn’t mean you have to use the account or even be in possession of a card. Their good credit history will start being reported for the both of you.

Last year American Express was named the customer favorite out of all the credit card companies. This year a study was done by J.D. Power and Associates and Amex came out on top for the forth year in a row. One of the reasons they were voted the favorite was because of their rewards programs. Amex offers solid rewards programs and some unique experience for their customers. If you carry either the American Express® Gold Card or the Platinum Card(R) from American Express then your in for a treat because card members get the option to take advantage of some really unique rewards.

• Tandem Skydiving
  If your up for skydiving then your going to love this offer from American Express. If you are a card member and a member of the Membership Rewards program, you have the option to your points for a tandem skydiving experience. The reward is offered through the company Xperience Days and you need 15,000 points to take advantage of the offer. The offers is available with both the American Express (R) Preferred Rewards Gold Card and the Platinum Card(R) from American Express.
• Broadway Tickets
  If you want to experience any Broadway or Off-Broadway show in New York City, Boston, Philadelphia or Washington, D.C. then you just need to cash in 7,000 points. The offer is available by making arrangement through telecharge.com. Card members who card either the American Express (R) Preferred Rewards Gold Card or the Platinum Card(R) from American Express have the option to choose Broadway tickets as their reward.
• Hot Air Balloon Ride
  If your up for a hot air balloon ride you can do so for 16,000 points. The adventure is available through XperienceDays.com. You have to be a card member of either the American Express (R) Preferred Rewards Gold Card or the American Express (R) Preferred Rewards Gold Card. You also have to be enrolled in the Amex Membership Reward program in order to qualify.
• Star on Broadway
  American Express cardholders can choose to redeem their points to experience Broadway with their Membership Rewards points. It will cost you 90,000 points (per couple). This special Broadway outing also includes dinner and brunch. If you have the additional points, you could even add a limousine to travel in. Both the American Express (R) Preferred Rewards Gold Card and the Platinum Card(R) from American Express offer this reward as long as you are a member of the Membership Rewards program.
• Virgin Atlantic Airways Miles Bonus
  This offer is for a a limited time only and it is available to American Express cardholders who are part of the Membership Rewards program. With this reward you can transfer your rewards points to a Virgin Flying Club account with Virgin Atlantic Airways and receive a 15% bonus. The offers is valid for cardholders who use the American Express (R) Preferred Rewards Gold Card or the Platinum Card(R) from American Express and you must be enrolled in the Membership Rewards program.

Amex Rewards Cards

American Express® Gold Card
	Earn 10K Membership Rewards® points, redeemable for select gift cards valued at $100, when you spend $1,000 in your first 3 months of Card membership Exclusive access to Gold Card Events- select concerts, shows, major sporting events, and more Purchase Protection covers loss, theft, and damage of eligible items within 90 days of purchase Redeem Membership Rewards® points for an exclusive array of travel, shopping, dining and entertainment rewards. Get approved in 60-seconds.
Intro APR Intro APR Period Regular APR Annual Fee Balance Transfer Credit Needed 0.00* for transfers N/A* N/A* $125 annual fee Yes Excellent Credit*

The Platinum Card® from American Express
	25,000 Membership Rewards® points when you spend $1,000 during your first three months of Card membership Global Travel benefits: Priority Pass select airport club access, No Foreign Transaction Fees, Global Entry expedited U.S. immigration pass Up to $200 in Airline Fee Credits annually to cover incidental charges on your airline of choice, including checked - baggage fee 24/7 Platinum Card® Concierge service for assistance with reservations, travel, gifts, and more Fine hotels & Resorts Program: exclusive upgrades and amenities at over 700 boutique, resort, and luxury hotels worldwide
Intro APR Intro APR Period Regular APR Annual Fee Balance Transfer Credit Needed 0.00%* for transfers N/A* N/A* $450.00* Yes Excellent Credit*

While we often hear the horror stories of credit card debit, credit cards offer consumers much more than just a line of credit. Many cards also come with special perks that can not only protect the card holder, but they can also save you money. These credit card perks can be well worth your time and they don’t even require any effort on your part. You don’t have to pay any extra fees or participate in any sort of rewards program. You can save yourself some money on things like rental car insurance, warranties and more. And, the best part is that all this is free!

Warranty and Price Protection

Many credit cards provide their cardmembers with a warranty protection program that is in place to safeguard the purchases you make with your credit card. When you make a purchase with your credit card, the purchase may be automatically protected under your credit cards warranty plan. You can think of it like a back up you have in case something goes wrong with your purchase. Each card company has it’s own guidelines that must be followed, but having a perk like this can save you money and alot of headache. Sometimes these warranties cover the item you’ve purchased for longer than the manufacturer warranty. Make sure you out the all the details about the warranty policy with your credit card, and then you can save money by getting that protection at no extra charge. Plus, you won’t need to spend money on buying anymore extended warranties.

In addition, your card might also provide you with price protection. This comes in handy when there is a price reduction on an item you have purchased. Some credit cards will credit you the difference between what you paid, and the new price. Typically, you will be eligible for a credit if there is a price drop within 90 days of your buying an item. Again, all card companies work different so be sure to check out all the details so you understand their policy fully.

Traveling Insurance and Perks

Many credit cards also come with traveling perks that can save you money and help you out when you’re traveling. One of the best perks is rental car insurance coverage. You can get this coverage through your credit card company which means you don’t have to pay the rental card company for insurance. Make sure you find out about the requirements ahead of time and keep in mind you must rent the car with the credit card that provides the insurance coverage. You will probably have to sign a waiver declining the insurance coverage from the rental card company.

Other travel insurance perks your card company might provide you are things like lost baggage insurance, trip cancellation insurance and travel accident or travel emergency insurance. Be sure to find out all the details before you book your trip and use the card to make your travel arrangements.