Silly Ways To Abuse Credit Cards

Using the credit card at the ATM for cash advances – This is Silly #1 because if you use your credit card at an ATM for cash, you’re usually going to end up paying between 20-25% in interest. This means an advance of $200 will cost you $40 at the least. If you need cash that badly, you would almost be better off just getting a loan with a bank. Use your ATM card, never use your credit card. And if you are traveling abroad, use your ATM card too. You may have to pay a nominal fee, but it is much better than taking a cash advance from a credit card!

Forgetting to pay your bills on time – Late fees on credit cards can add up and can also result in other fees, like over-the-limit fees. Set your payment on automatic debit if you find that you can’t keep track of the due dates. It’ll save you quite a bit of money. Forget to pay by 60 days, and it gets reported to the credit bureaus, and you take a hit on your credit score.

Carry a balance – This may not seem like a silly way to use a credit card, but carrying a balance results in having to make interest payments and depending upon your credit card’s rate, this can result in you paying a whole lot more for your purchase. Remember that the rate that is stated APR is never the true effective rate. Because your rate is computed monthly but using a “daily average rate,” the interest you are paying is always higher than the quoted “APR”.

Paying only the Minimum Payments – Pay only the minimum payments, and it takes you forever to pay off (depending on what the minimum is). Plus, when you add up the interest, you end up paying double the original price you paid. Pay in cash or rather, pay in full every month. The new CARD Act requires issuers to include in your new credit card statement how long it will take to pay off your balances if you only paid the minimum payment and how much interest you would end up paying. You will not like what you see!

Using a credit card with no rewards – I know many folks who pay their bills fully every month. Yet, they have a credit card that pays no rewards. Almost all credit cards have a rewards program these days, and using a credit card that isn’t giving you something back is silly. Look for cash back credit cards or airline credit cards where you can earn points that can be redeemed for buying things.

Falling for teaser deals and store cards – Falling for teaser deals that are only temporary or are meant to lure you into getting the card is not smart. Usually, after the initial special, the card really isn’t worth having. This applies to store cards as well, that offer a one time percentage off for signing up but have a 20% interest rate.

Smart Ways to Take Advantage of Credit Cards

Pay your bills in full – Paying your bills in full and not carrying a balance means that you’re also not accruing and paying interest on your debt. Additionally, with rewards cards, you’re still earning points or miles when you make purchases and it’s not costing you anything.

Set up autopay – This is a tip that more and more cardholders are taking advantage of simply because of the ease of mind that autopay will give you. Set it up once and forget about it and never pay a late fee for missing the due date again.

Making use of rewards – Save your points and actually use them on things you’d like to purchase or were going to purchase anyway. This is like getting free stuff, only you’re using the rewards you’ve earned for being a cardholder. If there is a certain shopping portal with your credit card company, make sure you are aware of the merchants and retail shops that it offers, and use your card to shop there to make sure you receive the maximum rewards possible. For example, Discover Card has a great shopping portal that gives you 5% to 20% rebates!

Make use of extended warranty feature – Some of the better credit cards have extended warranty features where they will extend the manufacturers’ warranty for up to an additional year if you use the card to pay for the purchase. Make use of it if your product ever breaks down after the manufacturer’s warranty expires but is still within the credit card issuer’s extended warranty period. This will save you money from buying more “extended warranties”.

Using auto collision insurance – Most credit cards these days insure you in the event of a collision on a car you rent if you pay with your credit card. That will actually save you quite a bit of money from paying the extra auto collision insurance if you were to pay for it yourself.

Accidental Loss and Damage Insurance – The better credit cards have this feature where they will reimburse you if the product you bought with the credit card gets lost or is accidentally damaged and the store refuses to take it back. There is obviously a limit as to how much you can claim in one year. But this feature can really come in handy.

Using 0% APR deals to reduce debt – If you happen to get into credit card debt and wish to pay it down sooner, then getting a 0% balance transfer credit card is one savvy way to reduce interest costs and get started on a “snowball tactic” to pay off your debt faster. You’ll save a significant amount of money transfer balances by moving from high interest cards to a card with an introductory 0% APR. Some cards offer this from 6 to 12 months, which is a pretty significant amount of time to save money on interest.

Ending Thoughts – These are just a few tips used to point out the differences between being silly with your credit cards and being smart. Strive to be one of the cardholders that is smart with their credit, and you’ll avoid a lot of financial issues in the future.

This post is from Mr Credit Card of www.askmrcreditcard.com. The goal of the website is to educate people about the various credit cards available. The site provides reviews of various cards in an effort to help people make informed choices. If you are looking for a brand new card, check out his best credit card deals section.Related Posts:

• Are Extended Product Warranties Worth The Money?
• How Will The New Credit Card Laws Affect You?
• Gaining Access to $10,000 in a Matter of Seconds
• 5 Newest Credit Card Tricks
• Exposing The Universal Default Provision In Credit Cards

Smart and Silly Ways of Using Credit Cards is a post from: Money Crashers

ShareBuilder is owned by the same company as ING Direct. For this reason, it may be in your best interest to open an ING Direct online savings or checking account. Why, you may ask? Well, you can link your ING account to your ShareBuilder account for easier, faster transfers.

What ShareBuilder Stands for

Before we get into the finer details, let’s talk a bit about why ShareBuilder has become so popular. They offer many features, but automatic investing is what has made the company loved by so many.

What is automatic investing?  Once you open your Sharebuilder account, you can choose your favorite stocks and mutual funds and set up a regular schedule of when you’d like to invest more money in them.  For example, you can automatically invest a predetermined amount every week or month – thus freeing up your time and building your wealth without too much of your attention.

ShareBuilder strongly believes that long-term investing is the way to go.  This is easy to see once you get started. To encourage investors to get involved for the long term, ShareBuilder offers low trade rates as well as the ability to purchase fractional shares.  So even if you don’t have enough money to buy an entire share, ShareBuilder allows you to invest.

Select your Account

Before you can start investing you need to select your account level. Options include:

• Basic. With this plan you do not have to pay a monthly fee. You will be able to make $4 automatic investments, which is among the cheapest online options.
• Standard. This plan costs $12/month, but with this fee you receive six free automatic investments along with the ability to purchase additional ones at a cost of $2 each.
• Advantage. This is the priciest plan at a cost of $20/month. You will receive 20 free automatic investments along with the ability to purchase extras for $1 each.

Opening an Account

One of the biggest benefits of getting started with ShareBuilder is the simple application process. With 10 to 15 minutes of time, you can have your account open and ready for investing. Just like with all financial accounts, you will need your contact information, social security number, and employer information.

Along with the above, you have the ability to choose what you will be using your account for: general investing, IRA, or for a child.

If you have any questions during the sign-up process, you can contact ShareBuilder’s customer service team. Based on first hand experience, I find them to be one of the best in the business. With long operating hours and short wait times, when you call ShareBuilder for help, you are going to receive accurate answers sooner rather than later.

Transferring Money with ShareBuilder

It is good to know that ShareBuilder offers many ways to transfer money into your account, including all the usual suspects such as check, wire transfer, and ACH. They also have an “Express Funding” feature that allows you to place an order and use funds from your bank account to pay for it. While this costs $5 most of the time, if you link an ING Direct account, it is free.

Time to Make a Trade

Obviously, the reason you joined ShareBuilder was to buy stocks and make trades. If you are interested in ShareBuilder’s bread and butter automatic investment plan, all you need to do is set this up and forget about it. Each month on the same date a predetermined amount of money will be invested.

In addition to automatic investing, you can also take advantage of real time trades, options and margins trades, ETFs, mutual funds, partial shares, and more.

Research Center

As noted above, ShareBuilder is geared towards those who are new to investing. This is why the research center is such a big deal. With the ability to screen and research stocks, you have a better chance of making the right investment decision. Along with this, you will find tools that track the top market movers, options trading, and a watch list among many others.

It is important to note that not all the tools and information in the research center are free. There are some premium tools that are only available to those with a Standard or Advantage account.

Notable ShareBuilder Features

While there are too many features to list and discuss, here are some of the most important:

• No account minimums.
• No inactivity fees.
• Automatic investing made easy, at a lower price.
• Access to stocks, ETFs, mutual funds, and more.
• Fractional share purchases.
• No fee IRAs. With no custodial fees you can avoid the $30 or more per year that most online brokerage firms charge.

Overall Impression of ShareBuilder

I have been a ShareBuilder customer for three years. Over this time I have grown to love the company. Like many, my favorite feature is the automatic investing. This “set it and forget it” way of doing things allows me to invest without being hands on. Along with this, I must note again that ShareBuilder has a great customer service team. This is true no matter how you get in touch with them, phone or online.

I use the Basic plan as to avoid monthly fees. That being said, I can easily see why many investors upgrade to the Standard or Advantage package.

ShareBuilder has a lot to offer at a reasonable price. No matter if you are a beginner or have been around the block a few times, you can benefit greatly by becoming a ShareBuilder investor.

Related Posts:

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ShareBuilder Review – Discount Broker For Long-Term Automatic Investing is a post from: Money Crashers

Smoking

Smoking is one expensive habit to pick up. Not only is smoking bad for your health, it’s bad for your wallet as well. Smoking raises the price of health insurance and decreases the money in your bank account. According to MSN Money, the average price for a pack of cigarettes nationwide is $5.00 and only getting higher. A pack of cigarettes is already costing $7.50 in Massachusetts and $10.00 in New York. If you smoked a pack of cigarettes a day, than you would be spending $35.00 per week. This would come out to $1,820 per year and over $54,000 over a 30 year period. That’s assuming that cigarette prices stay stagnant, which we all know won’t happen by a long shot. What would you do with an extra $54,000 dollars?

Gambling

Gambling comes in many different forms, but the end result is always the same. The house always wins. People gamble away their paychecks playing casino games, cards, online games, slots, and lotteries. Millions of people travel to Atlantic City and Las Vegas each year to gamble in casinos. Everyday people lose money playing lottery games such as Keno or trying to win the Mega Millions jackpot. A sad fact about lotteries is that the people that participate in them are always the ones who can least afford it. Low income individuals are the biggest players of lotteries. 82% of lottery revenue comes from low income individuals. Gambling is an addictive habit that can end up costing you more than you bargained for.

Impulse Purchases

Have you ever gone in a department store looking to buy one shirt and left with bags full of clothes? While it’s okay to splurge on occasion, it shouldn’t become a habit. Most people engage in impulse shopping. Impulse shopping occurs when purchases are made out of emotion. A good example of impulse shopping is going to the mall and coming home with an item that you never planned on buying. Department stores count on shoppers making purchases due to impulse buying. Remember to always shop with a plan and to stay within your budget. An easy way to avoid impulse shopping is to only take enough cash for your preplanned purchase. That way if you are tempted to go over budget, your wallet will make the decision for you! Alternatively, you can make a list that you adhere to while shopping. This can really come in handy when you go to the grocery store hungry and end up buying everything that looks good.

Convenience Stores

Do you regularly pick up items from your local convenience store? Do you pay your bills or get money out of the ATM at your local gas station? You will definitely pay more for the “convenience” of convenience store shopping.  Stores like 7-Eleven, Royal Farms, and Wawa’s charge huge mark-ups on most food items, snacks, and toiletries. Convenience stores charge hefty transaction fees for routine services. ATM fees at convenience store can be as much as $3, plus your bank’s fee. Bill payment services and money transfers also carry charges higher than most grocery stores. Going for a road trip? Pack a lunch or snack instead of stopping by one of these convenience stores. It’s often healthier too!

Do you know of any other habits that are dangerous to your finances?  Have you recently conquered any financially devastating habits?  If so, what did you do to stop it?

(photo credit: purpleslog)Related Posts:

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• Part 1: 6 Tips For Saving Money On Groceries
• Financial Question Of The Day #5

Breaking Four Expensive Habits That Cost You Money is a post from: Money Crashers

Credit and debit cards

My recent post on what to consider when using credit cards in foreign countries highlights some of the things to think about if you’re planning to rely on credit cards during your trip. If you choose a credit card that doesn’t include hefty transactions fees, you can overcome some of the potential downsides of using credit cards abroad, but other things to consider include interest fees and charges for withdrawing money on your credit card.

Prepaid Currency Cards

If you want a safer alternative to using a credit or debit card, you may want to think about a prepaid currency card. This involves a set amount of money being loaded onto the card in foreign currency from your bank account, a cash transaction or another credit card before you travel. If you spend all of this, you’ll need to make sure to have more foreign currency loaded onto the card. Some possible fees to watch out for include application fees for signing up for the card in the first place, charges for overdrafting, bank deposit fees (if you’re choosing this option to load money onto the card), and charges for having lost or stolen cards replaced. The exchange rates on prepaid cards are usually quite high, so you probably won’t get particularly good value for your money with this option.

Cash

If you’re going to take cash with you, take the time to research where you can get the best conversion deal. One big advantage of using cash is that fluctuations in the exchange rate can’t make your trip more expensive once you’ve converted into local currency, whereas this can be a problem when using credit or debit cards.

Travelers Checks

Travelers checks can be more secure than plastic and cash, because your signature is required to validate the checks and prove that you were the person who bought them. If you lose travelers checks on your travels, you can have them replaced as long as you made a note of the check numbers. This is a big plus in their favor. The exchange rate is set when you buy the travelers checks, so you won’t wind up paying more if the exchange rate takes an unpleasant turn when you come to make purchases or withdrawal transactions.

Unfortunately, travelers checks come with commission fees that can be up to 2% to 3%.  On top of this, you’re also likely to be hit with handling fees and there is even a charge when cashing in your checks. Another downside is the fact that they may not be accepted in some countries, especially outside of the big towns and cities. To get a good bargain, check the exchange rate on a regular basis and definitely don’t leave it until the last minute to buy your travelers checks, because you may get a raw deal on the conversion.

Whichever option you choose, be sure to shop around for the best deals as fees and charges can vary quite a bit. Using credit or debit cards is probably the most popular option, because it’s less risky than carrying cash around and can be more convenient since you don’t need to rely on travelers checks being accepted or ATMs being in working order to be able to use a debit card. As long as you choose a credit card that doesn’t hit you with large transaction fees, such as Capital One, this can be your best option for foreign spending, but the wrong card can leave you facing some unwelcome charges.

(photo credit: BlatantNews.com)Related Posts:

• What To Consider When Using Your Credit Card In Foreign Countries
• The 3 Worst Credit Cards That You Could Ever Own
• 5 Newest Credit Card Tricks
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• Your Credit Card Statement Will Look Different Soon

Spending Money Abroad: Should You Use Credit Cards, Cash or Travelers Checks? is a post from: Money Crashers

Opening an Ally Bank account is a four step process. Here’s how to do it:

1. Select your account type.

• Single owner
• Joint owners
• Multiple owners

2. Enter personal information.

• Name
• Social security number
• Home address
• E-mail address
• Date of birth
• Phone number

3. Fund your account with opening deposit.

You can fund your account by linking it to any existing checking or savings account.

4. Set your account options.

You can establish automatic contributions to build your savings.

Ally Bank’s Financial Products

High Yield CD – The high yield CD has a 1.58% APY, which is twice the current average 1 year CD rate of 0.73%. Ally offers the Ten Day Best Rate Guarantee which means that you get the best rate Ally offers for your CD within ten days of opening an account. A high yield CD can be opened with as little as one dollar.

Raise Your Rate CD – The raise your rate CD is a 2 year CD that gives you the option of locking in a one-time rate increase. Assume you invested $1,000 in a 2 year CD with 2% interest. If interest rises to 3% the next year, then you can take advantage of the option and increase your interest income an additional one percent. The current rate on the “raise your rate” CD is 2.04% APY. This rate is nearly double CD rates offered at Bank of America, Chase and Ally Bank.

No Penalty CD – Most CDs have early withdrawal penalties that can cost you as much as 10% of your balance. The no-penalty CD lets you withdraw your entire balance any time without any penalties. The current interest rate offered is 0.99% APY.

Online Savings – The online savings account offers one of the highest interest rates in the industry. Six transactions are allowed monthly. The online savings account is currently paying 1.30 percent.

Money Market Account – Ally’s money market account is very similar to the online savings except you receive a check card and checks. There are no ATM fees, and the first 50 checks are free. Ally’s standard checks are always free. The MMA rate offered is 1.30 percent.

Daily Interest Checking – Ally’s checking account pays 1.15% on balances greater than $15,000 and 0.50% on balances less than $15,000. Plus, you get the following features:

• Cash back when you shop
• Free online bill pay
• Free checks and unlimited check writing
• No ATM fees

Advantages

• No monthly fees like traditional banks.
• No minimum to open an account.
• No minimum balance requirement.
• Customer service is available 24 hours per day, 7 days a week.
• Variety of banking products.
• Interest is compounded daily.
• FDIC insurance up to $250,000 per account.
• No penalty for withdrawals from certificate of deposit.
• Ten day best interest rate guarantee on certificates of deposit.
• Website is very user friendly.
• Bank seems to be in good financial shape.

Disadvantages

• The only term for no penalty certificate of deposit is 9 months.
• All of the rates are not as high as some online banks.

Final Thoughts

Is Ally Bank right for you? Ally Bank seems like a pretty decent option if you are looking for a direct bank. The customer service is the best part of Ally Bank. Every time that I visited the website, a customer service agent was available and ready to assist me through an online chat window. The phone response time was good as well. You can reach a customer service representative 24 hours a day, 7 days a week with virtually no wait time. All of the accounts are FDIC insured, and the interest rates are very competitive with other online banks. I think that the CD rates at Ally Bank are some of the best around. However, the interest rates on the savings account can be beat. SmartyPig, Capital One and a few other banks offer better rates on their savings accounts.

Ally Bank should be considered a viable option for anyone looking to get started with an online bank account.

Related Posts:

• 4 Reasons Why Credit Unions Are Better Than Banks
• ING Direct Review: Online Banking Leader ($50 Bonus Offer)
• How To Avoid Banking Overdraft Fees
• Question: Where Should I Park My Short-Term investments?
• Don’t Bother With Certificates of Deposit

Ally Bank Review: Your Friendly Online Bank is a post from: Money Crashers

The Caribbean

Blue waters and sandy white beaches mean that Jamaica and the Bahamas are popular Spring Break choices, and they’re cheaper than you might think. If you like watersports, you’ll love Barbados. Spring Break is a good time to visit the Caribbean, because tropical storms are more likely in the summer and early Fall.

If you opt for the U.S. Virgin Islands, you shouldn’t even need a passport, because this part of the Caribbean is actually a U.S. territory and most major credit cards and travelers checks are accepted there. Shopping is a popular activity here, because there are significant discounts on duty-free goods. The main downside is the cost of accommodation, because hotels can be rather expensive, unless you book your break as a package that includes your flights and accommodations together.

South Padre Island (Texas)

Only five miles by water from Mexico, this island has good beaches, and it is a haven for water sports enthusiasts. For Spring Break, the weather is usually very warm, so you don’t need to travel out of the U.S. for exotic weather. To keep things cheap, try one of the all-inclusive resorts. If you’re traveling with a big group of friends or family, renting a beach house can be an affordable way to stay. You can look for vacation rentals on VRBO.com.

Florida

South Beach and Miami Beach are favorites, especially with students who are looking to save money by taking their Spring Break vacation in the United States.  There are plenty of hostels in South Beach, so it’s got some appeal for students on a budget, but it’s not as casual as Miami Beach and can be more expensive too. If money is tight, staying in Miami Beach is your better bet, because the accommodations tend to be cheaper. To find hostels in the area, check out Hosteling International, where you can search for hostels all around the world. If you’re not too far from either location, why not make a road trip out of it instead of taking a flight?

Another option is Panama City, especially if you like your beach parties. Alternatively, you can swim with dolphins at the Gulf World Marine Park, or try your hand at kayaking or deep sea fishing.

Ski Resorts

If you like skiing, there are various options in North America. The top of the pile tends to be the Canadian ski resort, Whistler Blackcomb, which is highly rated. In Colorado, Crested Butte boasts good snow, and it is well set-up for snowboarding, but it can be challenging for the inexperienced. There are a ton of other great mountains in Colorado, Utah (Park City), and even California (Lake Tahoe). Just keep an eye out for the best deals.

Just because a destination is ‘hot’ right now, it doesn’t mean that it’s automatically too expensive to bother with. If you look around for good deals and maybe make some compromises with your accommodations, you can enjoy a relatively inexpensive vacation even in one of the popular Spring Break destinations.

(photo credit: madmack66)Related Posts:

• Five Ways To Have Free Fun This Spring
• Don’t Let Money Ruin Your Vacation
• How We Saved Money On Vacation
• How to Travel Cheap On Bus and Train
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Top Cheap Spring Break Destinations to Visit is a post from: Money Crashers

Here are five real ways to earn money from home:

1. Become a freelancer. Do you have any skills that you can offer on a freelance basis? Popular options include freelance writing, web design, editing, and coding. But don’t stop there. If you have any other skill, you should see if you can put it to good use. You may be surprised at how many companies are hiring freelancers as a way of getting their work done since this often allos them to offer lower wages with no benefits at the same time.

2. Become a consultant. This is similar to being a freelancer, but in most cases includes an entirely different set of tasks. Generally speaking, a consultant is more involved. Along with this, a consultant usually makes more money. You can consult companies on a wide variety of things, with some of the most common subjects being sales, marketing, and human resource related tasks.

3. Data entry. Companies all over the world are looking for work-at-home professionals who can perform data entry, day after day. If you find a few good clients, you can make a lot of money with this work-at-home job.

Tip: Data entry positions are often times targeted by scam artists. If you are asked to pay a fee to get started, run in the other direction. Any real opportunity does not require an initiation fee.

4. Customer service. As a cost-cutting measure, some companies are doing away with call centers and instead hiring work-at-home individuals. The basic idea of this job is simple. Calls are routed to a phone line in your home. From there, you are required to act as a customer service representative, just as you would if you were in a call center environment. Don’t worry, your company will give you full training and all the resources you need to succeed.

5. Sell on eBay. Do you have items around your home that you have been aching to get rid of? Do you enjoy scouring garage sales for antiques and other valuables? If so, selling on eBay may be the perfect career for you. With a computer and the right inventory, making a living off of eBay is possible. In fact, there are hundreds of thousands of people already doing this. The only problem is finding the right products that will sell well on eBay. In the past 5 years, eBay has been extremely watered down by large retailers, but hard-to-find items and popular electronics still do very well on eBay. The key is finding a popular niche and knowing where to find those niche products at a discounted price, so you can make enough profit on each sale for it to be worth it.

Are you currently working from home? Have you ever worked from home in the past? Can you think of other legitimate opportunities? Share them with us in the comments section.

(photo credit: Eric__I_E)Related Posts:

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• The 11 Principles Series: Find Creative Ways to Boost Your Income
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Five Real Ways to Make Money from Home is a post from: Money Crashers

Bus Fares

Greyhound is a good option for cheap bus fares, especially if you take advantage of their online booking deals. Discounts are available for students with a Greyhound Student Advantage Discount Card. The card costs $20 to buy (excluding shipping), but it can pay for itself if you’re going to be making regular journeys across the US as you get a 20% discount on bookings.  Other discounts include a military discount (10% discount) and a senior discount (5%) for those aged over 62.

Chinatown Bus is a budget bus company that serves some big U.S. cities, including Seattle, Miami, San Francisco, San Diego, Las Vegas, Salt Lake City, Chicago, Atlanta, Orlando, Boston, New York, Philadelphia and Baltimore. Much of the coverage involves routes between these cities, rather than around them. Current fares include Philadelphia to New York for $10 and Washington DC to New York for $18.

Megabus is another of the cheaper bus services, although it’s a bit more up-scale in comparison to the likes of Chinatown Bus, because most buses feature free Wi-Fi and reclining seats. The fares can be more expensive than other budget bus services as a result of this, but there are some real bargains to be had if you travel on the right day and perhaps at less convenient times, such as early morning. Some journeys are priced at an unbelievable $1.00 for a trip that lasts several hours. As I write this post, traveling from New York to Washington DC in early April costs just $1 and not all of these are leaving or arriving at undesirable times, so it’s worth doing a search if you’re going to be making a trip to another city.

Boltbus is similar to Megabus in that it offers Wi-Fi and extra leg room on its buses and fares start at just $1 dollar. After every eight trips made using the service, you’ll receive one free trip (one-way only).

Train Fares

Traveling by train can be one of the most expensive ways to use public transport and in some cases, it can be only marginally cheaper than going by plane. Here are some tips for cutting the costs where possible related to a popular option, Amtrak.

Amtrak. If you’re a member of the American Automobile Association (AAA), you can be eligible for a 10% discount on Amtrak fares (along with your spouse and dependents). For students, you can save 15% with either a Student Advantage Discount Card or an International Student Identity Card. As a rough guide for what to expect for fares, a trip from New York to Washington in early April costs around $49 in the early morning and evening, but this rises dramatically to over $100 in the afternoon, so it can be much cheaper to travel at less popular times of the day.

If you’re not restricted to traveling with one specific bus or train company, searching for deals online can be the best way to find bargains. If you’re a student, there will usually be discounts to knock something off the regular fare, too.  Traveling by bus or train is not too popular here in the United States, but it can be a cheap alternative to flying if your itinerary is flexible, and you’re not too concerned with getting there quickly.  When’s the last time you traveled by train or bus?  What was your experience like?

(photo credit: TroyMason)Related Posts:

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• Top Cheap Spring Break Destinations to Visit
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How to Travel Cheap On Bus and Train is a post from: Money Crashers

Here are some more great articles from around the PF blogging community this past week:

How To Survive A Tax Audit. Getting audited is not that far fetched these days, especially if you claim self-employment income or take certain deductions and credits out of the ordinary. [Bargaineering]

4 Deadly Mistakes To Make While Pursuing Your Dreams. We all want meaning in our life, and one of the most important things you can do in your life is pursue the work you love. But make sure you avoid these mistakes along the way. [WiseBread]

Dividend Investing Supplement Passive Income. Investing in dividends truly is passive income. Here is a great guide about dividend investing and how to get started with it. [Frugal Dad]

Should You Automate Your Finances? I think there is a fine line when it comes to what things you automate with your personal finances. Saving is a great thing to automate, but some bills are not ideal for automating, because it takes away some of the control you have over your bank account. Here’s a great post about automating your finances. [Money Smart Life]

What Are the Current Costs to Check Baggage? For those of you traveling this spring, make sure you bookmark this article and save it as a reference. I hate checked baggage fees. The best thing you can do to save money when flying is pack as light as possible. [My Two Dollars]

What’s The Best Way To Help The Poor? Most of us are blessed with wealth and great jobs, and it’s our duty to give back others, but there’s a fine line between enabling people and helping them. So, what’s the best way to help the poor? Read this article for more insight. [Christian PF]

If you’re a social butterfly, make sure you follow us on Twitter and become our fan on Facebook! Have a great weekend!Related Posts:

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•  Past credit history
• Current amount of debt
• Length of credit history
• Types of credit available
• Applications for new credit

Here are 4 Great Ways To Boost Your Credit Score

Pay your bills on time.

The #1 way to improve your credit score is by paying your bills on time. Your individual loans are broken down into R and I ratings. “R” ratings are for revolving loans like credit cards. Revolving loans can be repaid and redrawn over and over again. “I” ratings are for installment loans like auto loans. Installment loans are to be repaid with a fixed number of equal payments and cannot be redrawn. If you want to attain that elusive R1 or I1 credit rating, always pay your individual bills within the 30 day time period. If your credit report has R1’s for all of your individual accounts, then it is highly likely that your credit score is 700 or above. As your rating drops so does your credit score. R2 means you repay in 2 months, R3 means you repay in 90 days and so on. The lowest score that you can get is an R9 or I9. An R9 rating means that this debt has been deemed noncollectable and the creditor has written off their chances of collecting any money. Once a debt falls into the R9 territory, it could take years to improve that individual rating.

Check your credit report regularly.

You should review your credit report at least twice a year to ensure that all of the information reported is accurate. Over 70% of credit reports contain erroneous information. You would be shocked by how many errors could exist on your credit report. Credit agencies often erroneously list debts that are not your’s on your credit report. Lenders often fail to submit updated account information that would benefit you. For example, if you used to pay your Visa bill late, Capital One may still have you listed as a late payer, even though you have paid your bill on time for the past 5 months. Report all errors to the appropriate credit reporting agency. You can find these forms on the credit reporting agency’s website. Contact lenders and ask them to submit updated account information.

Pay down outstanding debt.

Reducing your current level of indebtedness is one of the fastest ways to give a boost to your credit score. Your best bet is to have no debt and to keep your balance as close to $0 as possible. If you do have debt, aim to keep 70% of your credit line available. Let’s say you have a credit card with a $2,000 limit. The maximum amount of credit that you should use is $600. Lenders look favorably upon individuals that keep their outstanding balances low. Don’t forget to pay off all past due debts such as collection accounts. They won’t give a big boost to your credit score, but every bit counts!

Reduce your applications for new credit.

Loan shopping can hurt your credit score. If you want to improve your credit rating, you should limit applications for new credit. Credit checks and inquiries will lower your score. Be careful about the companies and agencies that you allow to run your credit. Department stores are known to offer discounts on purchases in exchange for customers applying for new credit. These credit inquiries can decrease your score by as much as 10%! The exception is that inquiries for new credit are treated as a single cluster as long as they take place within a 14 day period.

Do you have any other questions I haven’t addressed? Do you know of any other strategies that can be used to boost your credit score? If so, please tell us about them!

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How To Boost Your Credit Score is a post from: Money Crashers