Editor’s Note: NextAdvisor readers can sign up for IdentityForce via phone by calling 1-866-517-9264.

IdentityForce offers a wide range of monitoring services to keep your information secure. On the credit monitoring front, it offers a plan where it’ll monitor all three of your credit bureau reports.

Whenever there are changes such as you updating an address, applying for credit or paying off an account, these events show up on your credit report. Any changes prompt IdentityForce to alert you through email or text to ensure you’re the one who made these changes.

This is excellent in that it protectively monitor your information for you. For example, if someone has stolen your information and tried to apply for new accounts, you’ll know immediately.

What’s more, its plan contain $1 million identity theft insurance, so if your information is compromised, you won’t have to go it alone. It has agents standing by 24 hours a day/7 days a week to help.

Overall, while credit monitoring is only a piece of what IdentityForce offers, the service as a whole is very extensive, which means you’ll always have an advocate to help you when you need them.

IdentityForce has two packages available: UltraSecure + Credit and UltraSecure. The UltraSecure + Credit package provides credit monitoring services along with a litany of other features such as computer protection tools, a social security number tracking, dark web monitoring and identity theft protection. This plan costs $19.99/mo or $199.90/yr (note that you’ll save 2 months with annual plan sign up). UltraSecure is a less expensive plan — 30-day free trial, then $12.99/mo or $129.90/yr (note that you’ll save 2 months with annual plan sign up) — but it doesn’t offer credit monitoring services, so we didn’t include it in this review.

Signing up for IdentityForce is easy to do. You can visit their website to select the plan you want to buy. From there, you create an account, provide payment information, and you’re good to go. You can also sign up for service by using the live chat feature or calling its support team for NextAdvisor readers at 1-866-517-9264.

When you sign up for IdentityForce, you will immediately receive access to your 3-bureau credit report. On top of that, you’ll receive your TransUnion, Equifax, and Experian credit scores, which are provided by VantageScore® 3.0. These scores are updated monthly, which means you can really keep tabs on your credit.

On top of that, IdentityForce scans all 3 of your credit reports, and notifies you immediately if a change is made or something is added to your reports. If you didn’t make these changes or applied for the new account, IdentityForce will help you remedy the issue promptly. This includes its restoration agents, who are experts at assisting people to recover their identities quickly. These agents will file all the paperwork and make phone calls, which is a huge stress reliever for you.

Another unique tool it offers is the credit score simulator. With this tool, you can see how financial decisions you’re considering impact your credit, such as opening a new account, charging a large purchase to your credit card and more.

While the credit monitoring tools IdentityGuard offers are impressive, where the service really shines is its identity theft protection. The service offers everything from dark web monitoring to medical identity theft protection and everything in between. IdentityForce helps protect you with:

• • Active fraud monitoring (alerts you when a lender requests your credit reports)
• • Change of address monitoring (alerts you if your mail has been redirected through USPS without your authorization)
• • Court records monitoring (search millions of criminal and court records to determine if your identity has been used by any unauthorized individuals)
• • Dark web monitoring (scours thousands of websites, chat rooms, blogs and other data sources to detect illegal trading and selling of your personal information)
• • Payday loan monitoring (alerts you to any payday or quick cash loans that were obtained using your social security number)
• • Sex offender monitoring (alerts you if registered sex offenders are living in your neighborhood or move into your neighborhood)
• • Social media identity monitoring (monitor your Facebook, Twitter, YouTube, and Instagram accounts for inappropriate activity and posts that could be perceived as violent, are using profanity, or could be categorized as cyberbullying or discriminatory)
• • Mobile attack control (scans your mobile device to warn you of rogue apps, spyware, unsecured Wi-Fi connections, and even recognizes fake or “spoof” networks)

If your information is found through any of those scans, you’ll be alerted immediately. On top of that, the service offers a handful of added alerts and features, including …

• • Bank and credit card activity alerts (receive email and mobile text alerts when a charge, withdrawal or balance transfer exceeds a dollar amount determined by you)
• • Investment account alerts (receive email and mobile alerts when there is a deposit, withdrawal, duplicate transaction, or balance transfer related to your 401(K), brokerage, and financial accounts)
• • Smart SSN tracker (alerts you if there’s an unfamiliar name, alias, or address associated with your social security number)
• • Junk mail opt-out (removes your name from the most frequently used marketing databases and stops pre-approved credit card offers)
• • Identity threat alerts (alerts you when your personal information is at increased risk due to data breaches)
• • Fraud alert reminders (reminds you when it’s time to place a fraud alert on your credit reports)

As if all of that isn’t enough, IdentityForce has extensive recovery tools to help you in the event you fall victim to identity theft. The first step of restoration is an alert, which we detailed above. Next, you’ll be connected with the restoration team, who are not only available 24/7, but also they save you hundreds of hours by completing all the paperwork, making calls and doing all the heavy lifting to make sure your identity is restored. What’s more, IdentityForce offers $1 million identity theft insurance to cover out-of-pocket expenses and lost wages when your identity is stolen.

Overall, IdentityForce designed its response plan around you to make it as easy and as stress-free as possible for you. On this end, it makes them one of the best providers to trust if the unexpected happens.

Customer support is one of the biggest strengths of IdentityForce. It helps the provider earn an A+ rating with the Better Business Bureau thanks to its ability to resolve customer issues. It also offers several ways to touch base via live chat, phone or email support. And with restoration agents standing by 24 hours a day/7 days a week, you’ll always have an advocate you can call.

Our IdentityForce review illustrates many of the provider’s strengths as it relates to helping you stay in touch with your credit and protect your information. While there are many credit monitoring services that are cheaper, those services don’t have the vast features or support IdentityForce has either. Therefore, if you’re looking for a great credit monitoring service with a bevy of other features to keep your information secure, then IdentityForce is an excellent choice to consider.

The post IdentityForce® Review appeared first on NextAdvisor.

Editor’s Note: NextAdvisor readers can sign up for IdentityForce via phone by calling 1-866-517-9264.

IdentityForce offers an extensive set of identity theft and credit monitoring tools. It is truly a service that aims to protect your identity in nearly every aspect of your life, which is apparent from its extensive set of monitoring and alert tools, as well as its top-notch restoration services. This service truly has your back if identity theft every strikes. We’re not the only ones who think so, as IdentityForce earned best-in-class in 2019 from Javelin Strategy and Research.

IdentityForce has two packages available: UltraSecure + Credit and UltraSecure. The UltraSecure + Credit package provides credit monitoring services along with a litany of other features such as computer protection tools, a social security number tracking, dark web monitoring and identity theft protection. This plan costs $19.99/mo or $199.90/yr (note that you’ll save 2 months with annual plan sign up). UltraSecure is a less expensive plan — 30-day free trial, then $12.99/mo or $129.90/yr (note that you’ll save 2 months with annual plan sign up). It doesn’t offer any credit monitoring features, but you’ll still get the extensive identity theft protection. We recommend the former since it is the most comprehensive plan, as credit plays a major factor when it comes to protecting your identity.

Signing up for IdentityForce is easy to do. You can visit their website to select the plan you want to buy. From there, you create an account, provide payment information, and you’re good to go. You can also sign up for service by using the live chat feature or calling its support team for NextAdvisor readers at 1-866-517-9264.

Identity theft tools and protection is where IdentityForce really shines. The service offers everything from dark web monitoring to medical identity theft protection and everything in between. IdentityForce helps protect you with:

• • Active fraud monitoring (alerts you when a lender requests your credit reports)
• • Change of address monitoring (alerts you if your mail has been redirected through USPS without your authorization)
• • Court records monitoring (search millions of criminal and court records to determine if your identity has been used by any unauthorized individuals)
• • Dark web monitoring (scours thousands of websites, chat rooms, blogs and other data sources to detect illegal trading and selling of your personal information)
• • Payday loan monitoring (alerts you to any payday or quick cash loans that were obtained using your social security number)
• • Sex offender monitoring (alerts you if registered sex offenders are living in your neighborhood or move into your neighborhood)
• • Social media identity monitoring (monitor your Facebook, Twitter, YouTube, and Instagram accounts for inappropriate activity and posts that could be perceived as violent, are using profanity, or could be categorized as cyberbullying or discriminatory)
• • Mobile attack control (scans your mobile device to warn you of rogue apps, spyware, unsecured Wi-Fi connections, and even recognizes fake or “spoof” networks)

If your information is found through any of those scans, you’ll be alerted immediately. On top of that, the service offers a handful of added alerts and features, including …

• • Bank and credit card activity alerts (receive email and mobile text alerts when a charge, withdrawal or balance transfer exceeds a dollar amount determined by you)
• • Investment account alerts (receive email and mobile alerts when there is a deposit, withdrawal, duplicate transaction, or balance transfer related to your 401(K), brokerage, and financial accounts)
• • Smart SSN tracker (alerts you if there’s an unfamiliar name, alias, or address associated with your social security number)
• • Junk mail opt-out (removes your name from the most frequently used marketing databases and stops pre-approved credit card offers)
• • Identity threat alerts (alerts you when your personal information is at increased risk due to data breaches)
• • Fraud alert reminders (reminds you when it’s time to place a fraud alert on your credit reports)

As if all of that isn’t enough, IdentityForce has extensive recovery tools to help you in the event you fall victim to identity theft. The first step of restoration is an alert, which we detailed above. Next, you’ll be connected with the restoration team, who are not only available 24/7, but also they save you hundreds of hours by completing all the paperwork, making calls and doing all the heavy lifting to make sure your identity is restored. What’s more, IdentityForce offers $1 million identity theft insurance to cover out-of-pocket expenses and lost wages when your identity is stolen.

Overall, IdentityForce designed its response plan around you to make it as easy and as stress-free as possible for you. On this end, it makes them one of the best providers to trust if the unexpected happens.

When you sign up for IdentityForce, you will immediately receive access to your 3-bureau credit report. On top of that, you’ll receive your TransUnion, Equifax, and Experian credit scores, which are provided by VantageScore® 3.0. These scores are updated monthly, which means you can really keep tabs on your credit.

On top of that, IdentityForce scans all 3 of your credit reports, and notifies you immediately if a change is made or something is added to your reports. If you didn’t make these changes or applied for the new account, IdentityForce will help you remedy the issue promptly. This includes its restoration agents, who are experts at assisting people to recover their identities quickly. These agents will file all the paperwork and make phone calls, which is a huge stress reliever for you.

Another unique tool it offers is the credit score simulator. With this tool, you can see how financial decisions you’re considering impact your credit, such as opening a new account, charging a large purchase to your credit card and more.

Customer support is one of the biggest strengths of IdentityForce. It helps the provider earn an A+ rating with the Better Business Bureau thanks to its ability to resolve customer issues. It also offers several ways to touch base via live chat, phone or email support. And with restoration agents standing by 24 hours a day/7 days a week, you’ll always have an advocate you can call.

Our IdentityForce review illustrates many of the provider’s strengths as it relates to helping you stay in touch with your credit and protect your information. While there are many credit monitoring services that are cheaper, those services don’t have the vast features or support IdentityForce has either. Therefore, if you’re looking identity theft protection with a bevy of features to keep your information secure, then IdentityForce is an excellent choice to consider.

The post IdentityForce® Review appeared first on NextAdvisor.

This page includes information about Discover products that are not currently available on Next Advisor and may be out of date.

Rewards credit cards offer different ways for you to earn a little extra on your purchases and keep you as a cardholder through ways for you to pocket those rewards. Some of these options include redeeming rewards for cash back, merchandise, gift cards, travel or a statement credit. You may want to look into the option of taking a statement credit, as it has certain benefits that the other options don’t. Read on to find out what a statement credit is, what the benefits are and how you can get one on your account.

What is a statement credit?

A statement credit works just like a payment made on your account; it reduces the amount of money owed on your balance. If no balance was due and the credit resulted in a positive balance, it may show in green or within parentheses. Depending on your issuer, you may be able to cash out the credit balance or let it stay to cover future transactions. Each issuer will have different rules on how you can accumulate and manage statement credits, but most offer flexible options.

How can you get one?

There are different ways you can get a statement credit on your account, including:

• The redemption of cash back rewards.
• The redemption of travel rewards or by converting reward points or miles.
• Through an intro bonus, a card-linked promotion or credit card perks.
• Through a refund.
• Overpayments.

Cash back rewards

The most popular way to get a statement credit is by redeeming credit card rewards. Cash back cards have the most flexible redemption options, but some travel and hotel cards will also let you convert points into a statement credit.

When choosing to redeem your rewards points for a statement credit, take these things into consideration:

• Redemption rules: Most lenders won’t let you use a statement credit to pay the minimum amount due, so you’ll have to make this payment with your own funds. And some lenders require that you have a minimum amount in rewards available before redeeming for credit. For example, American Express won’t let you redeem rewards for a statement credit until you have a reward balance of at least $25 or more.
• Consider point value conversions: Cash back credit cards will usually give a full 1:1 point conversion, but some travel and hotel cards may reduce the point value by half when you try to convert miles for a cash statement credit. It all depends on the card. A travel card, like the Discover it® Miles, lets you redeem the full value in statement credits for all travel-related purchases.
• There are different ways to obtain and use a statement credit: You may not be able to use your statement credit on all your purchases. For example, credits for the Discover it Miles are only good for travel-related purchases. However, a card like the Citi® Double Cash Card (a NextAdvisor advertiser) offers statement credits equal to cash back in your account no matter the type of purchases made.

Intro bonuses and perks

An example of a credit card perk statement credit would be like the one you get with The Business Platinum Card® from American Express, which covers a Global Entry or TSA Precheck application fee every four years.

There are also statement credits that you can get in the form of intro bonuses and card-linked offers, so it’s important to read your card terms and agreement so you can maximize your rewards.

What are the benefits of statement credit?

When it comes to redeeming rewards, statement credits aren’t your only option

• Issuer incentives: An issuer may save money in bank transfers and mailing fees, so they might offer incentives to customers who choose a statement credit over a cash-out, bank transfer or gift card.
• Get full credit for rewards: You’re likely to get the full point value with a statement credit, especially from a cash back credit card or travel card that offers credit for travel-related purchases. For example, the Capital One® Venture® Rewards Credit Card lets you use earned miles as a statement credit for travel you’ve already booked. If you have enough rewards to cover the balance made in travel expenses, it would be like getting free travel.
• Combine offers: When it comes to maximizing statement credit options, you may be able to combine offers. For example, the Blue Cash Preferred® Card from American Express offers a $250 statement credit after you spend $1,000 in purchases within the first 3 months (an intro-bonus type credit). You can save that credit and accumulate rewards to the tune of 6% cash back at U.S. supermarkets (up to $6,000 per year, then 1% after that) and on select U.S. streaming subscriptions. Build up enough rewards and request them as statement credit and use it to help pay down your balance.

However, don’t pick a card based solely on the reward structure or the ability to redeem rewards. You need to pick a card that fully aligns with your spending habits and lifestyle. It’s the only way you’ll maximize the reward system and earn enough rewards to make a statement credit worth it.

Information regarding the Discover it Miles, Citi Double Cash and the Capital One Venture Rewards card was prepared by NextAdvisor.com staff. Opinions expressed therein are solely those of the writer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented on this page is accurate as of the date of the post.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post What is a Statement Credit? appeared first on NextAdvisor.

If you’re looking for a way to manage your money without the use of a traditional bank account, you could consider using prepaid cards. These payment cards limit your expenditure, and you don’t need a credit check to get one. If you need to practice budgeting your money or just want an alternative to credit cards, we’re going to cover what a prepaid card is and how they compare to other types of payments.

What is a prepaid card?

A prepaid card is similar to a debit card in that you can use it to make purchases at retailers and online, but you can only spend the balance available. If it’s a reloadable prepaid card, you can add more money to it, but if it’s not, the card becomes unusable. Reloadable prepaid cards offer an alternative to those who need a place to manage their money without having to go through a traditional bank.

You can get a prepaid card from a retail store, grocery store or online and add money to it by way of cash, check or a linked checking account. Most prepaid cards have associated fees so it’s important to read the fee schedule and agreement.

There are many different types of prepaid cards. Some are open-loop (network logo) cards, and these can be used anywhere the affiliated network is accepted (for example, Visa, Mastercard, Discover, etc.). And some prepaid cards are closed-loop (merchant specific) cards that are only good at specific retailers.

Prepaid cards vs debit cards

Unlike a debit card, which is funded with money from a bank account (and may be connected to multiple bank accounts through overdraft protection), funds in a prepaid card are added manually or automatically through direct deposit. You also don’t need to go through a credit check or qualify for a bank account to get a prepaid card; you just need to have your identity verified with a government-issued ID.

Prepaid cards are perfect for anyone who doesn’t want to use a traditional bank account or for parents who want to teach their kids how to manage money without the use of cash or credit.

Prepaid cards vs credit cards

Prepaid cards can offer an alternative for those who either don’t want to use credit or who can’t qualify for a credit card, as they don’t require credit checks, can be used anonymously and let you set spending limits. Any purchase made with a prepaid card is the same as paying cash.

When you use a credit card, you’re essentially borrowing money from a financial lender to cover your purchases; you’ll pay the lender back at a later date. This allows you to build better credit so you can borrow more money in the future. There are many different types of credit cards on the market to help you do this, but some people may not qualify due to poor or no credit.

However, prepaid cards will not help you rebuild credit like a secured credit card can, so it’s important to take your financial goals into consideration when choosing whether a credit card or prepaid card is best for you.

Top prepaid cards

Here are some of the top reloadable prepaid debit cards for anyone looking for a way to manage their money without a traditional bank account.

Netspend® Visa® Prepaid Card

The Netspend® Visa® Prepaid Card is a prepaid debit card offered by the NetSpend platform. It gives you all the features of a regular debit card, including direct deposit, mobile deposit, the ability to send money to others and online or mobile money management. They also offer a pay-as-you-go fee plan. You also get some perks like a $10 purchase cushion (at the lender’s discretion) and access to the NetSpend network of merchant locations where you can reload your card. The fee schedule varies depending on how often you use the card, but you can reduce monthly fees if you receive at least $500 in direct deposits per month.

Brink’s Prepaid Mastercard®

The Brink’s Prepaid Mastercard® is similar to the NetSpend Visa card and requires no credit check or traditional bank account, however, you do need to go through an ID verification. This card can also earn you cash back on selected purchases and provides fraud protection in case of unauthorized use. There are three fee-plan options: a pay-as-you-go, monthly and a reduced monthly plan that can save you money if you have at least $500 in qualifying direct deposits each month. Plus, with direct deposit, you could get paid up to two days early and qualify for a $10 purchase cushion and optional savings account that can earn you up to 5.00% APY.

PayPal Prepaid Mastercard®

The PayPal Prepaid Mastercard® is a prepaid debit card that you can reload straight from your PayPal account, your PayPal Cash Card or from a NetSpend reload network location. If you get your funds directly deposited, you could get your funds up to two days earlier than traditional banks. This card also comes with the ability to earn extra rewards based on individual spending habits, and you’ll get the option to open a savings account through Bancorp Bank. Plus, with access to your account on mobile and online, you can check your account transactions, monitor your balance and find a nearby reload location so your card is ready for use anytime you need it.

Prepaid Visa RushCard

The Visa RushCard is a prepaid debit card on the Visa network. With the Visa RushCard, you can set up bill pay, shop anywhere Visa is accepted, get cash from the ATM or manage your money on the go with the mobile app. You also get safety features like the ability to lock your card, protection against unauthorized purchases and account alerts. When you’re ready to reload money to your card, you can use the Green Dot network of merchants to add money at the register of a participating merchant. You can also reload using a mobile deposit, direct deposit from payroll, have friends and family send money or by transferring from another bank account.

How to add money to a prepaid card

If your prepaid card is reloadable, you might be able to add money with mobile check deposit, direct deposit, transfer or cash at participating merchant registers. Specific steps on how to add money will be different with each card, check your user account for details.

With most prepaid cards, these are the primary ways you’re going to add money to your prepaid card:

• Cash at the register: Each prepaid card is connected to a reloading network of participating merchants. The merchant will let you add money to your card at the register. Some of the major prepaid card networks are Green Dot, rePower by Mastercard, the NetSpend network and MoneyGram.
• Check via mobile deposit: If you register for an account online, your card may offer check deposit via mobile.
• Direct deposit: You can have your paycheck directly deposited into your prepaid debit card account. Plus, most issuers will offer a reduction in monthly fees for cardholders that use this feature.
• Bank transfer: You also have the option to transfer money into your card from an outside bank account. Some issuers let family and friends send you money from an outside account.
• Money packs: Visa and Green Dot have reload packs that you can put money onto rather than load onto a single card. You can get these reload packs at most retailers. You then load funds from the pack onto your prepaid card, or cards if you have more than one.

Prepaid cards offer flexibility and convenience for anyone looking for a way to manage their money without the need for a traditional bank account. It can help those who want to budget or those who need help managing their daily spending since it’s easy to set spending limits. With all the prepaid card options out there, just be sure to understand the fee schedules and keep an eye on balances to make sure the card always has money available.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post What Is a Prepaid Card? appeared first on NextAdvisor.

The United States has the most expensive healthcare system in the world, spending $8,047 per capita on public health, or 14% of our GDP. Much of that cost falls squarely on the shoulders of individual citizens. Even if you are insured, high deductibles and prescription costs can exhaust your savings very quickly.

One way to pay your outstanding medical bills is to put them on a credit card, but that option is not without risk. We’ll break that process down for you below, explaining what medical credit cards are best and how to choose the right medical cards for you.

The best credit cards for medical bills

• Chase Freedom Unlimited®*
• Wells Fargo Platinum card*
• Blue Cash Everyday® Card from American Express (a NextAdvisor advertiser)

The best cards for medical bills

Chase Freedom Unlimited — Best for flat-rate rewards

Chase Freedom Unlimited is a premium rewards card that offers an unlimited 1.5% cash back on purchases. You’ll get a sign up bonus of $200 when you spend $500 in purchases in the first three months. Not ready to spend your cash back right away? Luckily, your rewards won’t expire as long as you keep your account open. The card has an intro 0% APR rate for the first 15 months on purchases. After that, the standard variable APR is 14.99% to 23.74%. There is no annual fee.

Wells Fargo Platinum card — Best for 0% intro APR

Wells Fargo Platinum is a great deal for people who want to transfer their balance from a high interest loan. The card has an intro 0% APR rate for 18 months on purchases and qualifying balance transfers. After that, the rate converts to a standard variable APR rate of 15.49% to 24.99%. Keep in mind that the balance transfer fee is 3% for the first 120 days ($5 minimum) and then increases to 5% ($5 minimum). You also get up to $600 in cell phone protection with this credit card (a $25 deductible applies). There is no annual fee.

Blue Cash Everyday® Card from American Express — Best for balance transfer of medical bills

Blue Cash Everyday® Card from American Express gives you 3% cash back at U.S. supermarkets — up to $6,000 per year, with 1% thereafter — along with 2% at U.S. gas stations and select department stores and 1% on other purchases. You’ll earn a $150 bonus when you spend $1,000 in the first three months. There is an intro 0% APR on purchases and balance transfers for the first 15 months after opening your account, and a standard variable APR is 12.99% to 23.99%. There is also a $5 or 3% balance transfer fee, whichever is greater. There is no annual fee.

The best way to choose a credit card for medical expenses

There are two schools of thought when it comes to choosing a card for medical expenses. The first is getting a card that’s dedicated to this medical expense and only this expense. If that’s going to be your strategy, it makes sense to go with the card that has the longest 0% intro rate and no annual fee. You’ll have to pay a balance transfer fee — most card issuers charge 3% of the total balance — and you may be able to transfer your medical debt directly from the provider. You won’t need any of the bells and whistles associated with a premium cash back or points card.

The other strategy is to use this as an opportunity to upgrade your card. This makes sense if you haven’t added a new credit card to your portfolio in a while. Whether you should choose a cash back or points card depends on how much you travel, since points have the highest value when you redeem them for airline trips and hotel stays. Keep in mind, though, that you won’t earn cash back or points on balance transfers.

The risks of paying for medical bills with a credit card

Paying for medical bills with your credit card is not without risk. For one thing, the provider will consider your debt settled, and you won’t be eligible for a long-term repayment plan — some of which may have more favorable terms than a credit card. The first thing you should always do when faced with a large medical bill is try to negotiate with the facility’s billing department. This is especially true if you don’t have the good-to-excellent credit score required to be approved for a credit card with an intro 0% APR.

Another thing to keep in mind is whether you can pay off your medical debt during the intro 0% APR period. Once the intro period phases out, you’re going to be left with a high interest balance. If you don’t think you can make a significant dent in the balance, it might be better to apply for a personal loan. The interest rate on a personal loan will be higher than the intro rate on a credit card, but still significantly lower than the standard variable rate of the average card.

How to choose the right credit card for medical bills for you

Choosing the right card for medical bills is not that different from choosing any new credit card. Your primary goal is to reduce interest payments so you can accelerate loan repayment. The card should be inexpensive to own — that is, it shouldn’t have an annual fee — and if you’re going to use it to make purchases, it ought to be a card that earns you rewards for things you buy every day. It should also be an option you pursue only after you’ve talked to the billing department at your hospital or medical facility, since you could be eligible for a reduced payment or a no-interest, long-term repayment plan.

Conclusion

If you use a credit card to pay your medical bills, make sure you have done the math and know exactly how much you need to pay each month to reduce your balance to zero before the intro 0% APR rate expires. Credit cards are revolving debt, which means no one is going to force you to pay more than the minimum each month. You will have to be disciplined to make sure you pay it off.

If you have the good-to-excellent credit needed to qualify for a card with an intro 0% APR rate, and you are able to make the payments needed to reduce your balance before the rate expires, it can make sense to put your medical bills on a credit card. However, it is not the right strategy for everyone.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

*Information regarding the Chase Freedom Unlimited and the Wells Fargo Platinum card was prepared by NextAdvisor.com staff. Opinions expressed therein are solely those of the writer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented on this page is accurate as of the date of the post.

The post Best Credit Cards for Medical Bills appeared first on NextAdvisor.

Credit scores are very important three-digit numbers that can have an impact on everything from your ability to get a home loan, secure a new credit card, be approved for a rental space or buy a new car. Credit scores are a reflection of your financial responsibility. They factor in elements like how much credit you use, how reliable you are at making payments for what you owe and how long you’ve been practicing good credit financial habits. Having good or excellent credit scores can get you lower interest rates and better chances of approval for more appealing credit cards and loans.

The FICO® credit scoring model

A FICO® Score is a three-digit number determined by your credit report information. More than 90% of lenders use FICO® scores to make lending decisions, according to FICO, which makes it the most widely used credit scores in the United States. There are other credit scores out there — like ones provided by credit bureaus Equifax and TransUnion for educational purposes— but FICO® scores are the most popular and recognizable, ranging between 300 to 850.

FICO® scores take five factors into consideration to determine an overall score: payment history (35%), amounts owed (30%), length of credit history (15%), types of credit accounts (10%) and new credit (10%).

Payment history

Payment history is your credit history of making payments on time. This factor looks at any late payments you’ve made. Depending on how long your credit history is, a couple of late payments will have no significant factor on your score. A consistent history of late payments, however, will cause your score to dip.

The FICO® score looks at payment history for credit cards, retail accounts, mortgage and installment loans and finance company accounts. Factors like bankruptcies, financial lawsuits and wage attachments will also affect your payment history.

Length of credit history

Even if you’ve had a perfect payment history, the shorter your history is, the less favorably it’s viewed by lenders. Longer credit history has a more positive effect on a FICO® score.

To determine the credit history length, the FICO® score looks at how long your credit accounts have been open for and how long it has been since the accounts have been used. Also, the age of your oldest and newest accounts and the average age of all your accounts are factored in.

Types of credit accounts

Types of credit accounts, also known as “credit mix,” is another factor in a FICO® score. Having various types of credit is a way to demonstrate your creditworthiness and your ability to balance multiple lines of credit.

Having credit cards and loans active gives lenders a better idea of your ability to manage accounts responsibly compared to not having those accounts at all. Credit mix isn’t as significant of a factor compared to other FICO® score components, but it can still affect your score.

Amounts owed

Amounts owed indicates how much you owe in credit card charges, plus what you owe on installment loans. Credit utilization also factors into the amounts owed component. When you use a high percentage of your total available balance on a credit card, this may be a reflection that you are not being financially responsible and that you are likely to go into debt, miss payments and/or make late payments.

The amounts owed is determined by the total balances on your last statements. So, even if you have paid off your card balances in full, that won’t be reflected until your next statement cycle. Also, amounts owed takes into account how many credit card accounts and installment loan balances you have. A high number of accounts with balances is an indication that you’re borrowing a high amount of money, which lenders may consider risky.

New credit

New credit is a factor in FICO® scores because it shows how many new accounts you’ve opened in the past year. Opening a lot of new accounts in a short amount of time can be considered risky, make you look desperate to lenders and lower your FICO® score. If you have a short credit history, opening several new accounts in a short period of time may be considered an even greater risk.

How many new accounts you have in comparison to how many accounts you have total will also be taken into account. Plus, new accounts will lower your average credit age, which can negatively impact your credit history score factor. Even if you’re not approved for credit you apply for, the inquiries made into your account during the application process will influence the new credit factor in your FICO® score.

Plenty of factors affect credit scores, with the most important being your payment history and amounts owed. It’s a good idea to start building credit early on with a diverse mix of accounts to create a long credit history. More importantly, you must use credit and loans responsibly and make on-time payments, keep your credit utilization low to give your score a boost and avoid opening multiple new accounts each year if possible. You may want to keep older accounts open since that can give the credit history factor a boost. With solid credit scores that are good or excellent, you’ll be able to qualify for the most rewarding credit cards and will be more likely to secure loans, like mortgages or car loans.

The post How Is My Credit Score Calculated? appeared first on NextAdvisor.

In the business of everyday life, it’s easy to forget to pay a bill for a few weeks. But that small mistake may have some major financial consequences, especially when it comes to your credit. Late payments can cause your credit scores to drop and can stay on your credit reports for years. Having a delinquency on your credit report can make it harder to qualify for a loan, rent an apartment and even land a job, so staying on top of your monthly bills is a pretty important part of maintaining your financial health.

What is a credit report?

A credit report is a summary of all your credit activity. It includes information about your existing loans and credit cards, such as how much money you owe and whether you’ve made your payments on time. If you filed for bankruptcy within the past few years, that will also be reflected in your report.

Many lenders and credit card issuers look at your credit reports to decide if they want to work with you. When you apply for loans, for example, lenders will pull your reports to determine your creditworthiness. If you have a positive credit history, you’re more likely to get approved for loans with good rates and terms.

Landlords, insurance companies, utility companies and even potential employers may also check your reports. Because your credit can have an impact on everything from your employment prospects to your housing situation, it’s important to pay your bills on time and keep your credit scores up.

How payment history affects credit overall

If you’re more than 30 days late with a credit card or loan payment, your account may be reported as delinquent to credit bureaus like Equifax, TransUnion and Experian. Credit bureaus gather information about your payment history and outstanding debt from creditors and use it to put together your credit reports. Creditors aren’t required to report late payments to credit bureaus, but many do. So if you don’t pay your bills on time, it will probably show up on your credit reports and hurt your credit scores.

Payment history is the most important factor in determining your credit scores. It makes up 35% of your FICO score, so missing a payment can cause your credit rating to drop substantially. How many points you’ll lose depends on how many payments you’ve missed and how late they were. It’s estimated that someone with a very good score could lose as many as 110 points, and someone with a good score could see an 80-point drop.

On average, it takes two years to rebuild your credit and get it back to where it was before. That’s why it’s important to do everything you can to prevent late payments, especially if you’re planning on taking out loans in the near future.

The shelf-life of late payments on a credit report

Your credit scores will likely recover after two years if you get your finances back on track and pay your bills on time. But delinquencies may show up on your credit reports for years after your score has bounced back, making it more difficult to qualify for loans.

Credit bureaus are allowed to report negative information like late payments and bankruptcy for up to seven years. Even after seven years have passed, they can include the delinquency in your credit reports under certain circumstances.

If you’re trying to take out more than $150,000 of credit, for example, late payments can still appear on your credit reports. Negative marks may also show up if you’re applying for a job that pays more than $75,000 and your potential employer opts to runs a credit check. Outside of these two situations, your late payments will fall off your credit reports after seven years, allowing you to have a fresh start.

Still, seven years is a long time to wait for your credit to improve. It’s better to avoid late payments in the first place so you never have to deal with the consequences of damaging your credit.

Tips to avoid late credit card payments

Having negative marks on your credit reports can make it more difficult to qualify for loans, apartments, affordable insurance and more. Here are some tips to help you avoid late payments so delinquencies never make it onto your reports.

• Set up automatic payments. When you’re busy, it’s easy to forget to pay your bills. Setting up automatic payments enables you to pay your bills on time without having to think about it.
• Set up reminders. If you’re worried that you’ll overdraft your account by using autopay, then you may want to set up electronic alerts instead. Many banks will send you a text or an email to let you know when a bill is due. Budgeting apps like Mint will also send you notifications when it’s time to pay your bills so you don’t forget and miss the deadline.
• Customize due dates. Many companies allow you to change the due dates of your loan,credit card and utility payments to better suit your financial situation. If you have trouble managing your money, you may want to set up automatic payments to come out of your account a few days after you get paid. That way you’ll never miss a payment because of overspending.
• Build your savings. If an unexpected expense comes up, it can be hard to cover all your regular monthly bills, especially if you don’t have savings. An emergency fund will give you a financial buffer and make it easier to pay your bills no matter what life throws your way.

Late payments can show up on your credit reports for years and affect your ability to qualify for loans, apartments and jobs. But if you’ve missed a few payments, don’t panic. You can minimize the damage to your credit scores by paying your bills on time and keeping your credit utilization ratio low. As long as you work on improving your finances, your credit scores will bounce back, and your late payments will eventually become a footnote in your credit history.

The post How Long Do Late Payments Stay on Your Credit Report? appeared first on NextAdvisor.

It sounds intimidating: EMV compliance law. But it’s not a law, and you can’t be penalized or fined by the government for not following suit. You could face potential costs if you don’t listen to the orders coming from Visa and Mastercard to switch to chip technology in your business. However, whether or not it makes sense for your business depends on your type of business.

EMV stands for Europay, Visa, Mastercard — the three entities behind the change in how businesses accept credit cards. In recent years, you may have noticed a drastic uptick in the number of companies accepting EMV technology, which is the little gray chip installed into most credit cards. If you’re wondering whether your business needs to follow suit, we may be able to help you answer that question.

What is EMV compliance law?

To become EMV compliant, your business needs to change to a terminal accepting credit cards with chips in them. Your customers dip their credit card instead of using the black magnetic stripe on the back when swiping them.

Why the change? EMV-enabled cards are much more secure from fraud. Even if a thief steals your customers’ information using a chip card, EMV cards encrypt one essential piece of data, the chip card security code number. This three-digit code is unique to every transaction, so even if a thief duplicates the card and tries to use it in a store, the card will be declined because it won’t be able to provide the encrypted number.

Previously, before EMV compliance came into the picture, banks had to pay businesses back for all fraudulent charges. Visa and Mastercard decided it was time for U.S. merchants to implement changes to deal with fraud at the source — especially with the U.S. being one of the top producers of fraudulent charges. Therefore, Mastercard and Visa set a deadline of October 2015 for U.S. retailers to switch to terminals with chip readers. When chip cards were introduced in the United Kingdom, point-of-sale fraud dropped by 56%, and there is already evidence the United States has seen a decline in fraud.

However, since there was no law stating retailers must comply with Visa and Mastercard’s demands, the companies needed to figure out a way to penalize companies for not switching. That’s where the “liability shift” came into play. After October 2015, Visa and Mastercard stated if your business didn’t have the appropriate chip-enabled technology, your company would be held responsible for any fraudulent charges. Therefore, switching to EMV technology became an insurance policy against you having to pay for false purchases.

The liability shift seems to be working, as 80% of U.S.-based stores currently accept chip cards.

Are card chips and chip readers still secure?

As of October 2015, all businesses were expected to replace stand-alone terminals with EMV-enabled card terminals because it is more secure from fraud. Therefore, using an EMV-compliant terminal in your business makes it less likely you will unknowingly accept counterfeit cards for purchases.

To steal information, hackers infect terminals with software that reads the account numbers from the magnetic strip or the chip of your card. They can then use these to create counterfeit cards. EMV cards contain a chip with an encrypted number unique for each transaction. A fraudster needs this number to complete false transactions, so your terminal is less likely to approve the purchase. EMV also requires a PIN, which can make it more tricky for fraudulent charges to go through.

It’s important to note EMV cards don’t encrypt any of your customers’ data besides the chip card security code number. Therefore, thieves can still read sensitive information off of a chip. EMV simply lowers the probability of the thief being able to use a fake card with those account numbers. Additionally, EMV compliance has no impact on online purchases.

What EMV compliance law means for businesses

Does it make sense for your business to shift to EMV technology? Maybe. If you’re a mom-and-pop donut shop and the largest transaction you make is typically under $50, the expense of switching to an EMV terminal might not make sense. New terminals can cost anywhere from $50 to $600. Your business is probably less of a target than some others. Like we mentioned, you won’t get fined for not using EMV technology. It may mean, however, a few of your customers will get free donuts, and the banks won’t pay you back for the expenses.

Also, if you run a convenience store with gas pumps, you have an extended deadline, until October 2020, to switch over. Seventy percent of convenience store owners haven’t yet due to a lack of funding, software or the complexity of the change. Furthermore, if you run an online or e-commerce business, you won’t have to worry about switching anything for EMV compliance. This expectation affects only in-person transactions.

On the other hand, if your business has an extensive amount of credit card transactions you couldn’t afford to cover if it were fraudulent, it may be in your best interest to become EMV compliant. That way, the banks will repay you if any of your customers’ purchases are fraudulent. For some businesses, the peace of mind is worth the initial cost.

Whether or not your business needs to consider EMV compliance in its future depends on the type of business you run and the amount of risk you are willing to take on. For some, it may not make sense to pay the extra money for its customers to use chip cards. For others, the lack of liability for fraudulent charges may far outweigh the expense of transitioning.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post What is EMV Compliance Law? appeared first on NextAdvisor.

There are now more than 1.2 billion websites worldwide, giving consumers access to a near-endless supply of products, services and data on-demand. Despite benefits in speed and scale, however, there’s a potential drawback while computing online: stolen data.

Recent research shows 81% of users are willing to share more personal data with banks if it means faster loan approvals, while 57% said they would provide retailers more data in exchange for personalized deals or savings. But what happens if this data is compromised? Armed with personal information, attackers could steal your identity, open new credit accounts and even commit tax fraud.

As a result, it’s critical to implement online safety measures to reduce immediate risk and develop safe computing habits to protect your personal data.

Why is online safety important?

Cybersecurity forms the core of online safety. While the term is often associated with business IT teams and the protection of corporate networks, cybersecurity thinking is critical for all users to secure their data at scale.

Put simply, cybersecurity focuses on reducing risk by applying tools and techniques to limit the chance of data being compromised, attacks getting through undetected or information being stolen. With this personal information, hackers can use your credit card to make fraudulent purchases, open up loans in your name or even steal your identity. Some scams also involve taking private photos or reading personal emails and using the information to blackmail you into paying a ransom.

For companies, this means developing cybersecurity policies and procedures across their organization. For individuals, it means developing safe computing habits to help prevent personal information from being compromised, stolen or destroyed.

This isn’t a theoretical exercise — last year, more than 540 million users were put at risk when Facebook was breached and millions of guests had their personal data exposed in the first few months of 2020 after Marriott was hacked. While personal cybersecurity habits can’t prevent these large-scale breaches, taking preventative measures can help limit the risk by giving users more control over what they share, when they share it and how they interact with the Internet at large.

Online safety measures to take

Building strong security habits is the key to staying safe online. While one-off measures such as deleting a problematic account or changing your password are helpful, those measures can create a false sense of security if not paired with more consistent, online safety habits.

Here are eight ways to reduce your risk online:

1. Reduce what you share — The more you share, the greater your risk. While banks and credit card companies need your personal and financial information to process loans or credit applications, the same can’t be said of social media or e-commerce companies. For example, many online retailers include an option to “save” your credit card details for future purchases, which you should avoid. If the site is compromised, your card data could be stolen and used to make fraudulent purchases. Reducing your risk of fraud is worth the inconvenience of re-entering your credit card each time you make a purchase.
2. Increase your privacy settings — Social media is now a part of everyday online life but it also lends itself to data over-sharing. Pictures, posts and personal information can all become public knowledge if you’re not careful. Curb the risk by regularly checking your privacy settings. Wherever possible, limit who can see your information by default and turn on notifications requiring you to approve new posts or pictures containing your image or personal data.
3. Monitor your emails — Email is everywhere. From corporate communications to purchase confirmations to collaborations with friends and family, email is often the easiest way to connect, which makes it an ideal opportunity for attackers. If they can convince you to follow malicious links or download infected attachments, your data could be compromised. The technique is called phishing — attackers send a legitimate-looking email and hope you’ll take the bait — and it remains one of the most popular online threats. Reduce your risk by learning what to look out for. Any email you’re not expecting that contains words like “URGENT” or “WARNING” or seems to come from a well-known company but contains a host of spelling errors is likely a phish. Just delete it.
4. Secure all connections — Make it harder for hackers to see what you’re doing online with a virtual private network (VPN). These tools mask your IP address and location and encrypt your data in transit to frustrate fraudsters.
5. Select strong passwords — If attackers can guess your password, they can compromise your online accounts. Steer clear of choices like “password” or “123456” and instead opt for longer passwords (12 characters or more) featuring random letters, numbers and symbols.
6. Use antivirus programs — Install antivirus and antimalware programs on your computer or mobile device to scan files and emails for potentially malicious code. Every attack detected is one you can avoid.
7. Patch everything — Make sure to regularly check for any updates to your device operating system (OS) and all applications you’re using. While some updates simply contain new features and quality-of-life improvements, others offer fixes for existing or newly-discovered security flaws hackers are actively exploiting. Regular patching reduces your risk.
8. Opt for identity protection — Last but not least? Consider identity theft protection services that actively monitor for fraud across credit cards, court records, investment accounts and Social Security data. In addition to ongoing protection, many offer monetary ID theft guarantees to help you get back on track if your data is compromised.

Conclusion

Online safety matters. Companies want more of your data to offer personalized discounts and quicker loan processing but hackers are happy to steal this information and rack up fraudulent charges or assume your identity. By developing safe computing habits focusing on reducing the data you share, controlling the data you provide and protecting your data from compromise, you can reduce your online risk and gain peace of mind.

The post 8 Online Safety Tips to Protect Your Personal Data appeared first on NextAdvisor.

In this day and age, almost every business accepts credit cards. It’s important to allow customers to pay by credit or debit card because It’s convenient and customers can make unplanned purchases with ease, but one look at the various fees that go into each transaction done with a credit card could make you doubt that decision.

But don’t worry; we’ve got you covered in our guide to credit card processing fees. We’ve broken down the ways in which credit card companies, processors and banks charge businesses for allowing consumers to use credit cards.

What are credit card processing fees?

In short, credit card processing fees are the fees that merchants or sellers pay for the ability to accept credit card payments from your customer.

While a credit or debit card transaction is being processed, the point-of-sale machine sends the data to multiple places to verify or decline the transaction. If it is approved, the money is sent from the credit card issuer’s financial institution to yours. Along the way, another fee is deducted by the company responsible for setting up and facilitating the process also known as the payment processor.

Even though this unseen sequence of events is happening automatically when the customer inserts or swipes their card, there are many other people involved in the transaction. The process is automated, but there are troubleshooters for when problems arise, coders, and people who oversee the accounts and handle customer service. The processing fees merchants pay go toward these expenses like but also for markup of the service, and, in the case of the credit card issuer, the rewards that they give their rewards credit card holders.

Three types of credit card fees that affect your rate

There are three types of fees that go into determining how much you pay per credit or debit card transaction.

Interchange fees are a percentage of the total sale paid to the customer’s credit card issuer. Each credit card network sets its own fees that are updated twice a year. These fees, in part, offset the risk the card issuer is taking on by approving the sale, the handling costs and potential fraud expenses.

Dues and assessments, sometimes called service fees, are the money that you pay to the credit card network for the ability to process the transactions and use of the card brand. These fees vary by network, with tiered pricing for the size of the transaction or whether the customer used a credit card or a debit card. Debit cards which use a PIN are considered safer and usually incur a lower fee than credit cards. Like the interchange fee, these are revised twice a year.

The payment processor’s fee is paid to the processing company for use of its service to facilitate and process the payment between you, the customer and the credit card issuer. It’s a markup fee and often charged per transaction using the interchange rate plus a flat fee. Since you have the ability to switch payment processors, you also have the ability to negotiate pricing terms and other one-time or annual fees charged for the provider’s services.

As you do research about what’s needed to get set up to accept credit card payments, remember to pay particular attention to the payment processor fees, as these fees will vary between providers. They might charge the interchange fee plus $0.15 per transaction but have better benefits than a competitor who only charges interchange plus $0.10. All three of these fees go into the overall rate that you pay per credit card transaction.

How can you reduce credit card transaction fees?

You can expect credit card fees to take 1.7% to 3.5% of the transaction total. However, there are a few ways in which you can lower the fees so that you can keep more of your hard-earned money as profit.

The easiest way to keep credit card processing fees low is to always swipe the card rather than key in the information. Swiping the card, or having the customer insert the chip into the card reader, proves that the customer is there in the store and can verify with their signature,thus lowering the risk of accepting a stolen card.

Another way to both enjoy lower fees and protect yourself from accepting a fraudulent card is to set up your system to require address verification. There are different ways to do this: you can ask for just the ZIP code or the full address. This data is then transferred to the credit card issuer and verified with the customer’s information. If it’s not a match, the card is declined.

You can also negotiate with your credit card processing service for lower fees. This is especially helpful if you have a large transaction volume. The company will still be making money on all of the transactions, so it’s in its best interest to keep you as a client by offering you a discount.

Conclusion

Now that you see all of the credit card processing fees that go into accepting cards, don’t let that turn you off accepting plastic. Consumers crave convenience and don’t carry cash and checkbooks like they used to. Not accepting credit cards could break an otherwise easy sale. Even though you’ll pay a percentage of it in fees, it’s still advantageous for you to accept credit cards.

Understanding the options you have when choosing a processor will help you control your expenses when it comes to ongoing fees that aren’t tied to individual transactions. As always, shop around for payment processors so that you get one that fits the needs of your business.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post Credit Card Processing Fees Guide appeared first on NextAdvisor.

Your credit scores matter. A great credit score makes it easier to apply for a credit card, boost your credit limit or take out a loan while Less-than-ideal scores may negatively impact your ability to make big purchases or get insurance.

But what exactly is your credit score? How is it calculated? Here’s what you need to know about the factors that influence your scores and how you can improve your scores over time.

The importance of knowing your credit score

Your credit score is a number — between 300 and 850 — that reflects your overall creditworthiness. It takes into account current debt and credit loads, any defaulted payments or bankruptcies and your credit history (if any). The higher the number the better your credit score, and values are typically broken down into five broad categories:

• Below 620 — Bad
• 620 or higher — Below average
• 670 or higher — Average
• Around the 700s — Good
• Over 750 — Exceptional

Your credit scores will often be reported on your monthly credit card statement; if not, contact your card issuer directly or purchase your score from a credit-reporting agency. You’re also entitled to a free credit report once each year from the three major credit bureaus — Equifax, Experian and TransUnion. While this report doesn’t include your credit score, it does provide a more holistic picture of your current credit situation with details about bill payments, outstanding loans and current debt. It’s a good idea to regularly review your credit reports for any errors and correct them.

Some factors — such as your current assets or total net worth — don’t impact your credit score. The most popular credit scoring model, FICO, uses a combination of five key factors to determine your score, including payment history, amounts owing, length of credit history, new credit applications and your overall credit mix.

Financial impacts of credit

Solid credit scores make it more likely that lenders will approve your application for car loans, mortgages, new credit cards and credit extensions because it indicates greater reliability in making on-time payments and keeping your debt-to-income ratio under the recommended 43%. Lower scores suggest that you may default on payments or max out your credit cards without the ability to pay.

Consider a car loan application: on average you’re asking for $40,000 to buy a new car, so the dealership runs a credit check. If your credit score is low, the financing company used by the dealership may consider your application high-risk. As a result, your application may be rejected, or you may be offered a loan with substantially higher interest rates.

Put simply? Your credit scores have a significant impact on your financial life, from giving you room to breathe with higher limits to securing financing for car or home purchases.

Personal impacts of credit

Your credit scores can also impact your personal life. Many companies run credit checks during the application process if you’re applying for a job or looking for insurance. While these businesses can’t see your exact credit scores, they can request your credit reports with your permission, which gives them a good sense of your current financial status.

In the case of insurance, a credit report that includes defaulted loans and missed payments may result in your application being denied if the company deems you at-risk to default on monthly payments.

When it comes to a job, meanwhile, employers looking for staff to handle financial transactions may worry that your financial troubles could lead to bad decisions and put the company at risk.

It’s also worth considering the stress of bad credit scores. If you’re already struggling to make minimum payments and ensure loans are kept up-to-date, bad credit scores can negatively impact your mental health. Add in calls from debt collectors if you’re behind on payments, and it’s easy to see how bad credit can become a serious, ongoing issue.

Tips for building credit

So how do you start building or rebuilding credit? It’s worth applying for a low-limit or secured credit card in both cases; these cards require an upfront deposit to “secure” your credit, and this deposit is often your credit limit.

It’s also a good idea to review your credit reports for any errors and correct them as soon as possible to ensure they don’t negatively impact your score. Having a plan to always make your minimum payments and pay your bills on time also matters to your overall credit score. Finally, make sure you’re effectively managing your credit utilization ratio. While it may not be possible to get your ratio down under 10%, aim for 30% or lower wherever possible. If you need help, ask for lower credit limits or set spending alerts on your cards to ensure you stay on track.

If you’re considering a secured credit option but aren’t sure where to start, check out our guide to the best secured cards for rebuilding credit.

Conclusion

Your credit score affects your everyday life. Great or exceptional scores make it easier to land loan approvals or extend your credit limit, while poor or very poor scores make it difficult to find insurance or get a job — and can cause serious, ongoing stress.

Get back on track by regularly reviewing your credit reports, making payments on time and applying for a secured card that lets you slowly, surely and securely build better credit.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post Top Ways Credit Affects Your Everyday Life appeared first on NextAdvisor.

Opening a new credit card can add exciting new possibilities to your financial life, but there are some unseen consequences to opening several cards in a short period of time. All credit card issuers and banks have their own specific policies that guide their lending decisions, and many card issuers are unwilling to approve new credit for customers who have opened several cards over a certain period of time.

One of those issuers is Chase, which is why you need to know about the Chase 5/24 rule if you’re planning to apply for a Chase credit card (or a co-branded Chase card).

What is the Chase 5/24 rule?

First, it’s important to note that the so-called 5/24 rule isn’t an official Chase policy that can be found on the Chase website. Instead, it’s the distillation of thousands of anecdotes from failed credit card applicants, as well as analysis from credit card experts and data analysts. Together, these pieces of information helped thread together the commonalities of rejected Chase credit card applications. As with most rules, there are always exceptions, and even if you haven’t broken the 5/24 rule, you can still be turned down for other reasons.

So, what is the rule exactly? To be approved for any Chase credit card subject to the 5/24 rule (more on that below), you can’t have opened five or more personal credit cards for any bank within the preceding 24 months. The key takeaway here is that four is the hard numerical limit. For new accounts. It’s also important to note that the 5/24 rule is only applicable for Chase card approval, but the criteria for getting approved applies to all accounts across all banks.

If you think you’ll get approved for a Chase card because you’ve opened five accounts in the past two years but you’ve closed one of those accounts, putting you back at four active accounts, think again. The rule only applies to accounts you’ve opened, so it doesn’t matter if you’ve closed the account— it’s the opening part that counts against you.

By the same token, rejected applications don’t get counted toward your 5/24 total since those applications didn’t result in a new account being opened.

Which Chase cards fall under the 5/24 rule?

It’s safe to assume that any Chase personal credit card or co-branded credit card is subject to the 5/24 rule, which includes the following Chase cards:

• AARP Credit Card From Chase
• Aer Lingus Visa Signature Credit Card
• Amazon Prime Rewards Visa Signature Card
• British Airways Visa Signature Card
• Chase Freedom
• Chase Freedom Unlimited
• Chase Sapphire Preferred Card
• Chase Sapphire Reserve
• Chase Slate
• Disney Premier Visa Card
• Disney Visa Card
• The World Of Hyatt Credit Card
• Iberia Visa Signature Credit Card
• IHG Rewards Club Premier Credit Card
• IHG Rewards Club Traveler Credit Card
• Ink Business Cash Credit Card
• Ink Business Preferred Credit Card
• Marriott Bonvoy Boundless Credit Card
• Southwest Rapid Rewards Plus Credit Card
• Southwest Rapid Rewards Premier Credit Card
• Southwest Rapid Rewards Premier Business Credit Card
• Southwest Rapid Rewards Priority Credit Card
• Starbucks Rewards Visa Card
• United Club Infinite Card
• United Club Business Card
• United Explorer Card

In addition to these cards, it’s crucial to remember that simply being under the 5/24 limit doesn’t mean your application for a Chase credit card will be approved. Other variables influence Chase’s decision to reject or approve your application, and might include your credit scores, household income, debt to income ratio and other financial behavior indicators.

Also, if you apply for too many Chase cards over too short a time period you can still be rejected and your accounts can even be shut down. It’s in your best interest to wait several months before applying for another Chase card if you’ve recently opened a Chase account.

How to calculate your 5/24 score

If you want to apply for a Chase card but you’re unsure of the number of accounts you’ve opened over the past two years, it’s a good idea to get one of the three free credit reports you’re entitled to receive each year.

When you look at your reports, identify how many credit card accounts you’ve opened over the last 24 months. If you find you’ve opened five or more credit cards, you’ll want to wait two years before applying for a Chase card to give yourself the best chance of approval.

As a note, your 5/24 status is active until the first day of the 25th month after your fifth account was activated. Here’s a real-life scenario to illustrate this point a little more clearly: if your fifth most recently opened account was opened on November 19, 2018, you shouldn’t apply for a new Chase card until December 1, 2020.

Exceptions to the 5/24 rule

There are exceptions to almost every rule, and the Chase 5/24 rule is no different. For example, Chase business cards do not count toward your 5/24 score. Other small business credit cards don’t typically count toward your 5/24 limit either, unless it’s from TD Bank, Discover or Capital One.

Auto loans, mortgages and student loans don’t count toward your 5/24 limit either.

Conclusion: Apply for new credit strategically

Although sign-up bonuses can act as a siren call, it’s in your best interest to avoid applying for too many credit cards over a short span of time, especially if you want to apply for a Chase credit card. With that said, if you’re under the 5/24 rule, ensure that other parts of your financial standing, like your credit scores and debts, are up to snuff so you can stack the odds of approval in your favor.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post What is Chase’s 5/24 Rule? appeared first on NextAdvisor.

Separating your personal and business expenses, even if your business is still in the beginning stages, is helpful. You can stay organized, avoid mistakes on your taxes and maximize the expense refunds you get on your taxes. One way to do this is with a small business credit card. These work like personal credit cards, in that they charge interest for balances not paid back in full each billing cycle. Having a small business credit card increases the spending power for your business and may provide rewards that put more money into your pocket to spend on your business.

Whether you’re a solopreneur who freelances on the side or you sell baked goods at the farmers market every weekend, when you’re making money from a business venture, you may be able to get a small business credit card. If you’re wondering how to get a business credit card, use this guide to learn more about the qualifications and application process.

Who qualifies for a small business card?

If you make money for work you do for yourself, you may be able to qualify for a small business credit card. That means if you sell items online or at events, or you earn money from performing a service, you may able to get a small business credit card. Here are the requirements for getting a small business card.

• • You own a legal business. When you apply for a small business credit card, you’ll need to list your business. Some banks will require documentation. While your business doesn’t have to be an entity like an LLC or an S-Corp, you can’t get a small business credit card for an illegal business, like selling illegal drugs.
  • You’re in the process of starting a new legal business. You can also apply for a small business credit card as you start your new business. Many business owners use their small business credit card to make purchases that get them up and running.

What qualifies as a small business?

According to the U.S. Small Business Administration, there were 30.2 million small businesses in the U.S. in 2018, making up 99.9% of total U.S. businesses. The most popular small business industries were healthcare and social assistance, accommodation and food services, retail trade, manufacturing, professional, scientific and technical services. Small businesses and sole proprietorships that might qualify for a small business credit card include:

• • • Retailers selling items on eBay or Amazon
    • Home health aides
    • Food truck owners
    • Freelance graphic designers and web developers
    • Teachers, tutors and fitness coaches
    • Career consultants and business coaches

Business credit cards for freelancers

Most freelance creatives aren’t aware that they can qualify for a small business credit card, even as one employee working for themselves. As mentioned, you don’t need a formal business entity like an LLC to qualify as a small business owner. Freelancers are sole proprietors and can use their social security numbers as their business identifying code on their application. They can then use the card to pay for any costs related to their freelancing business, such as equipment, advertising or even meals with clients.

Some freelancers may not want or need a small business credit card. For example, a freelance writer who just needs a computer and internet connection to work might spend a lot less upfront and have fewer ongoing costs compared to a freelance video editor who requires software and equipment.

How to apply for a small business credit card

The process of applying for a small business card is different than applying for a personal card. You’ll have to submit business information on your business credit card application. However, just as when you’re applying for a personal credit card, the card issuer will consider your personal credit score. Here are the steps you’ll need to complete for a business credit card.

• • • Gather all pertinent info. You’ll need your business name, address, business category, tax identification number, annual business revenue and other business information to prove to the issuer you’re a legal business. If you’re a solopreneur, you may be able to use your personal information for these categories.
    • Have personal information on hand. Since business cards are backed by personal credit, you’ll also need to submit personal information like your social security number, personal income and date of birth.
    • Decide which employees will need cards. Most business credit cards provide the option to add on free employee cards at no cost. The benefit is that as employees make purchases with those cards, their actions also apply to the business credit card account. This can help you get business credit card rewards more quickly.

Income requirements for small business cards

Small business credit card applications will require that you list income from your business. You may also be required to list personal income. Always be honest with these numbers and only list amounts that can be verified. Income requirements will vary depending on the card issuer and income is just one part of the application approval process. That’s why most card issuers don’t list a specific income requirement when you’re applying for a business credit card.

In some cases, you may have zero income because all of your time is being spent on starting your business. You may still be able to get a small business credit card. Also, if you have a perfect credit score but low income, you may be able to qualify for a small business credit card because of your credit score.

If you have questions about income and want to only apply for cards that you have a good chance of qualifying for, contact the card issuer to talk with them about your concerns before you apply.

Best small business credit cards

When you’re looking for a small business credit card for your business, consider the best business credit cards and compare their features. That way, you minimize the number of applications you complete, which can help protect your personal credit score.

One factor you’ll want to consider is the types of rewards you’ll most benefit from. For example, if you do a lot of business travel, The Business Platinum Card® from American Express (A NextAdvisor advertiser) provides 5x points on flight and prepaid hotel bookings on amextravel.com.

You’ll also want to consider the most common charges you anticipate making to the card. For example, the Brex Corporate Card for Ecommerce is a charge card that provides a 60-day payoff schedule and gives extra points for software subscriptions, restaurant purchases, rideshare expenses and travel booked through Brex.

If you want to be rewarded for all your purchases with cash back, the American Express Blue Business Cash™ Card earns business owners 2% cash back on eligible purchases up to $50,000 a year, then 1% on all other purchases. Plus, it has no annual fee.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post How to Qualify for a Business Credit Card appeared first on NextAdvisor.

You’re probably not a stranger to Mastercard credit cards. As one of the largest payment networks in the world, Mastercard partners with several different credit card issuers, including Citi® (a NextAdvisor advertiser), Chase and U.S. Bank. While these issuers offer their own rewards on the cards they issue, Mastercard also offers its own benefits in three different levels, with World Elite Mastercard including the highest level of rewards and protections from the network.

If you’re trying to figure out what the World Elite Mastercard benefits are, we have all the information below to show you exactly what’s included in World Elite Mastercard benefits, along with the best credit cards for you to take full advantage of them.

What are World Elite Mastercard benefits and how do I get them?

Mastercard offers three benefits levels for credit cards in its network. Of the three, World Elite Mastercard is the highest tier, offering a mix of luxury travel perks like special discounts on luxury home rentals with onefinestay and additional protections, including Mastercard’s Global Emergency Services. Mastercard benefits come standard with each credit card, but the card’s level will determine which benefits it receives. If you’re drawn to the luxury perks of World Elite Mastercard, make sure the card you want falls into that category before applying. Once you’re approved for the card, all the benefits will be active — there’s no need to apply or activate.

How are World Elite Mastercard benefits offered and included?

You can count on your World Elite benefits to be the same no matter which card you choose. Credit card issuers have the opportunity to include their own benefits on top of what’s already offered, but they can’t withhold any Mastercard benefits. World Elite Mastercard benefits include the foundational perks from both Traditional Mastercard and World Mastercard tiers, as well as additional luxury perks aimed at those who like to travel the world in style.

• Mastercard ID Theft Protection keeps an eye on your credit history and alerts you if it finds activities that might be fraudulent.
• Cell phone protection covers your phone if it’s stolen or damaged up to $1,000 per year when you use your Mastercard to pay your monthly phone bill.
• Mastercard Zero Liability Protection ensures you won’t be held responsible if someone uses your credit card without authorization.
• Global emergency services will help you replace a lost or stolen card, find an ATM or get an emergency cash advance if you find yourself in a tight spot anywhere in the world.
• World Elite Concierge is a 24/7 service to help you with anything you need while you travel, including booking flights, reserving tables and locating hard-to-find tickets or items.
• Complimentary professional travel services allow you to customize your travel plans to get the most out of every trip with the help of Mastercard’s experienced travel advisors.
• Mastercard Hotel Stay Guarantee ensures you’ll have a good experience at a hotel rates 3-star or higher. If you don’t, a lifestyle agent will work with you and the hotel to correct any problems.
• Mastercard Lowest Hotel Rate Guarantee refunds you the difference if you can find the exact same hotel reservation for cheaper than what Mastercard’s travel services can offer.
• Mastercard luxury hotel and resorts is a portfolio of over 2,000 properties where you’ll enjoy room upgrades, early check-in, late check-out, complimentary breakfast for two each day and other great property-specific amenities.
• Mastercard Airport Concierge is available at over 700 airports around the world to personally escort you through the airport on any of your flights, including departures, arrivals and connections.

Any additional World Elite Mastercard benefits

In addition to protections and travel perks, you’ll also enjoy special discounts and perks with several services offered by your World Elite Mastercard.

• Lyft — You’ll earn $10 after you take 5 Lyft rides each month.
• Boxed — You’ll see 5% cash back on all of your orders when you pay with your Mastercard.
• Postmates — Put $5 back in your pocket every time you make a purchase of $25 or more.
• ShopRunner — Enjoy a free membership, which gives you free 2-day shipping and free returns from several online retailers.
• Fandango — You’ll get $5 off your next ticket purchase every time you use your card to buy two movie tickets.
• onefinestay — Save 10% on rental home and villa reservations around the world.
• Priceless Golf — Enjoy exclusive experiences like playing Pebble Beach or watching an event from inside the ropes.
• Car, air, cruise and vacation packages — You’ll enjoy special discounts when you book through Mastercard Travel & Lifestyle Services.

World Elite Mastercard benefits vs. World Mastercard benefits

The second tier of Mastercard’s benefits — World Mastercard — offers many of the same foundational benefits that make a World Elite Mastercard so enticing, like global emergency services and the Mastercard hotel stay guarantee. However, World Elite steps up the game with additional savings from Lyft, Boxed and others that can make these cards worth the added effort and potentially higher annual fees.

Best cards for World Elite Mastercard benefits

Taking advantage of World Elite Mastercard benefits means choosing the right credit card for you. Not all credit cards are created equal, so you’ll want to compare cards to find the perfect balance of fees, rewards and other benefits.

U.S. Bank Business Cash Rewards*

For small business owners, the U.S. Bank Business Cash Rewards World Elite Mastercard® is an excellent option for earning cash back rewards with no annual fee. You’ll earn 3% back on eligible purchases at gas stations, office supply stores and cell phone providers, plus 1% back on all your other purchases. If you need to make a larger purchase, you can take advantage of a 0% intro APR on purchases and balance transfers for the first 15 billing cycles before seeing the standard variable APR of 11.99% to 22.99% and the balance transfer fee is $5 or 3% of the amount of each transfer, whichever is greater.

Citi / AAdvantage Platinum Select World Elite Mastercard*

With the Citi® / AAdvantage® Platinum Select® World Elite Mastercard® (a NextAdvisor advertiser) you earn American miles you can use to travel the world and take advantage of all the World Elite Mastercard travel benefits. You’ll earn a sign up bonus of 50,000 miles after you spend $2,500 within your first three months. The annual fee is $99, but it’s waived for the first 12 months. You also won’t have to pay any foreign transaction fees when you travel abroad. The standard variable APR for purchases on this card ranges from 15.99% to 24.99%, and the balance transfer fee is $5 or 3% of the amount of each transfer, whichever is greater.

Citi Prestige Credit Card*

The Citi Prestige® Credit Card comes with a $495 annual fee, rewards and perks that make it worth every penny if you use it well. You’ll earn 5 points per dollar spent at restaurants and airlines, 3 points per dollar at hotels and cruise lines and 1 point for all other purchases, with a 16.99% to 23.99% variable APR based on your creditworthiness. For perks (outside of the Mastercard World Elite benefits), Prestige offers complimentary airport lounge access through Priority Pass Select, a credit to cover either TSA Precheck or Global Entry application fees and up to a $250 travel credit each year to cover travel expenses.

Conclusion

When you choose a travel credit card with World Elite Mastercard benefits, you get a ton of perks for traveling in style. Taking full advantage of these benefits means enjoying the discounts and protections your credit card offers, especially the perks from Lyft, Boxed and Fandango, where you’ll see the biggest differences when weighing it against cards in the Mastercard World benefits tier. With options including business cards, cash back, travel rewards and more, you’re sure to find a World Elite Mastercard that gets you where you want to go.

*Information regarding the U.S. Bank Business Cash Rewards World Elite Mastercard, The Citi AAdvantage Platinum Select World Elite Mastercard and The Citi Prestige Credit Card was prepared by NextAdvisor.com staff. Opinions expressed therein are solely those of the writer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented on this page is accurate as of the date of the post.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post World Elite Mastercard Benefits appeared first on NextAdvisor.

Few credit cards boast the flexibility and convenience of a rewards redemption feature like the Capital One Purchase Eraser. There’s no need to calculate miles or transfer them to partner airlines to get a great deal on travel. You simply use your card to earn miles and then use the miles to “erase” travel-related purchases within the 90 days after your purchase was made.

If you’re looking for a rewards program that offers a ton of flexibility, you may want to consider cards that offer the Capital One Purchase Eraser. You can learn more about the Capital One Purchase Eraser and how you can take full advantage of it below.

What is the Capital One Purchase Eraser?

The Capital One Purchase Eraser is the ability to redeem your rewards miles for statement credit for travel expenses at a value of $0.01 per mile. Once you have accumulated enough miles, you can redeem them as payment for any travel-related purchases, such as a flight to visit your best friend, taxi fare to work or car rental for a night out on the town.

The “travel” category is quite broad, so you can use it on various travel-related services, no matter how often or rarely you travel. Even if you don’t have enough miles to erase the entire purchase, you can use what you have to reduce the cost. Let’s say you have $200 in miles, but your hotel room is going to cost $300. After using the Purchase Eraser, you’ll only spend $100 out of pocket.

Cardholders with the following credit cards have access to the Purchase Eraser:

• Capital One® Venture® Rewards Credit Card*
• Capital One® VentureOne® Rewards Credit Card*
• Capital One® Spark® Miles Select for Business*
• Capital One® Spark® Miles for Business*

How does the Capital One Purchase Eraser work?

With the Capital One Purchase Eraser, you simply book your travel, use your favorite rideshare app or stay at the hotels of your choice, making sure to pay with your card. When you’re ready to erase these purchases, simply log in to your account and select the button that allows you to cover your travel purchases.

You will see all of the purchases eligible to be erased, along with your miles balance, the amount of the purchase and how many miles are needed to pay for it in full. Select the ones you want to use your miles on, choose how many miles you will apply to the purchase and then click the “redeem” button. It may take a few days to reflect on your statement, but you will receive statement credits for the purchases you erased.

Types of purchases that can be “erased” with the Capital One Purchase Eraser

Capital One’s Purchase Eraser can be used on numerous travel-related expenses, including:

• Air travel
• Hotel stays
• Train travel
• Car rental
• Taxi and ridesharing
• Limousine services
• Cruise lines
• Travel agencies

The main caveat is that purchases must be categorized under specific travel merchant categories when they are processed through the merchant.

Still, that one caveat is a small price to pay for the Purchase Eraser, which allows you to not only shop travel through direct airline and hotel sites, but also book tickets and hotel stays through sites like Expedia and Travelocity and still have your purchase erased in part or in full with your miles. No credit card travel portals required.

Pros of the Capital One Purchase Eraser

A unique feature of this program is that you can erase purchases at any time within 90 days. Maybe you don’t have enough points to erase a purchase in full right now, but you will have more miles in two months. Well, you can wait until you’ve accumulated enough miles and redeem them at that time, provided you’re still within the 90-day window for redemption.

Another pro of the Capital One Purchase Eraser is that you are free to find and book travel on your own through any website. Some travel rewards programs only work with specific airline carriers, which makes it difficult or more costly to redeem all of the miles you’ve accumulated. With the Purchase Eraser, there are no special rules regarding where you must book your travel.

You can also redeem as many or as few miles as you’d like. Did you overspend while traveling this month? No worries — you can use this feature to erase your Uber rides and hotel stay. Or, you can save up miles and use them to pay for a whole trip.

Cons of the Capital One Purchase Eraser

Unlike redeeming miles for travel directly with the airline or through a partner program, you have to book the travel with your Capital One credit card and then redeem the miles. This can be a problem if you’re trying to limit your credit utilization ratio. It would also be a problem if you want an immediate refund. You have to pay for it when your monthly bill is due and then will be credited with the amount in the future.

While most travel should be processed correctly by the merchant, there’s always the chance that a mistake happens and it’s processed incorrectly. You could also make a purchase you think is travel-related, but isn’t. In those cases, you won’t be able to erase the purchase, but you can redeem the points for cash back, albeit at only half a cent per mile.

Important tips and things to keep in mind about the Capital One Purchase Eraser

Because the Purchase Eraser can only work on items classified as travel, it’s best for people who will redeem the miles for flights, hotels and public transportation rather than opting to redeem miles for a regular statement credit. Purchases that are erased are valued at $0.01 per mile, whereas statement credits only get $0.005, or half a cent, per mile. The cards that offer this reward may not be the best rewards card option for you.

Conclusion

For frequent travelers, the Capital One Purchase Eraser program offers flexibility and convenience. Not only can you take advantage of the best travel deals when you see them, but you can also decide whether or not you want to pay for them all or in part with money or miles. Plus, as an added bonus, you have 90 days to choose. Together, those two factors make a great rewards program.

*Information regarding the Capital One Venture Rewards Credit Card, The Capital One VentureOne Rewards Credit Card, the Capital One Spark Miles Select for Business and the Capital One Spark Miles for Business was prepared by NextAdvisor.com staff. Opinions expressed therein are solely those of the writer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented on this page is accurate as of the date of the post.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post Capital One Purchaser Eraser Guide appeared first on NextAdvisor.

This page includes information about Discover products that are not currently available on Next Advisor and may be out of date.

Great rewards can make-or-break a credit card. The right fit for your spending habits can help you save money on every purchase, get your next trip booked faster or open the door to unique, curated experiences. No matter your preference — from cash back to travel miles — getting the most value from your card means taking the right approach to earning more rewards, more quickly.

But with so many cards on the market offering sign-up bonuses, rewards multipliers and a variety of redemption options, it’s easy to miss the mark — is steady cash back better than category spending for your family? Should you opt for multiple travel rewards pathways, or opt for extra-value redemption with specific rewards programs?

In this guide, we’ll dig into best-in-class cards that outperform the competition and teach you how to maximize credit card rewards.

Use the right card for your needs

No matter how great the rewards rate on a card, it won’t deliver maximum earning potential if it doesn’t align with your everyday spending habits. For example, cards like the Wells Fargo Propel American Express® card offer 3x points for all travel and dining spending and 1x points for other non-category purchases. While you can still earn rewards if travel and dining aren’t your priority, you’re missing out on maximum benefits.

Before choosing a rewards card, consider your spending habits. Do you have time to monitor cash back categories and change your purchasing preferences to suit the shift? Or do you prefer flat-rate cash back? Are you looking for a wide variety of earning potential, or do you prefer more travel-focused rewards? By determining how and where you spend money before applying for a new card, bonus earnings are more likely to match your expectations.

Need more help choosing the right credit card for your spending needs? Check out our in-depth guide.

Best rotating categories cash back card: Discover it Cash Back

The Discover it® Cash Back is all about category bonuses which shift every three months, and requires you to activate each quarter. From January through March 2020, you get 5% cash back (up to $1,500 per quarter, then 1%) on purchases at grocery stores, Walgreens and CVS. April through June is gas stations, Uber, Lyft and wholesale clubs; July through September is restaurants and PayPal; and October through December covers Amazon.com, Target.com and Walmart.com.

This card also offers 1% cash back on every purchase, every day. At the end of your first year, Discover will match all the cash back you’ve earned, with no maximum limit. Making the most of this card means tracking categories and changing your spending to match until you reach the $1,500 quarterly maximum.

Best flat-rate cash back card: Capital One Quicksilver Cash Rewards Credit Card

If flat-rate cash back is your preference, the Capital One® Quicksilver® Cash Rewards Credit Card is your best bet. The rewards structure here is simple: you earn 1.5% cash back on every purchase, every day. There are no categories to track, no annual fee and you earn a $150 bonus for spending $500 in the first three months.

This card also makes it easy to make big purchases with 15 months of 0% intro APR on purchases. After the first 15 months, purchase APR will vary between 15.49% and 25.49% based on creditworthiness.

Wondering how to maximize credit card rewards with the Capital One Quicksilver Cash Rewards card? The big benefit here is that it doesn’t require any special planning or consideration — simply spend however, whenever you want to earn 1.5% cash back.

Best rewards card: Wells Fargo Propel American Express Card

The Wells Fargo Propel American Express card is all about earning rewards points wherever and whenever you spend. You get 3x points on all restaurant dining and ordering in, flights, hotels, homestays, car rentals, gas stations, rideshares, transit fares and select streaming services. Plus, you get 1x points on all other purchases and don’t have to put up with any annual fees. Add in 20,000 bonus points for making $1,000 in purchases during the first three months of card ownership, and it’s possible to earn substantial rewards with the right spending approach.

The Wells Fargo Propel American Express card also offers a 0% purchase and qualifying balance transfer APR for 12 months after account opening, followed by a purchase and balance transfer APR between 13.99% and 25.99% variable. The balance transfer fee is 3% (or $5 minimum) for 120 days, then up to 5% ($5 minimum).

Making the most of this card means making sure your spending aligns with the 3x categories. While you don’t need to worry about maxing out category bonus limits, you do need to consider where the bulk of your spending happens. If you’re a frequent flier and hotel guest who regularly uses transit options such as taxis or rideshares, this card offers great value. If occasional travel is your preference, you may be better-served with more straightforward cash back cards.

Best travel card: Chase Sapphire Preferred Card

The Chase Sapphire Preferred® Card focuses on delivering maximum value for travel spending. You’ll earn 2x points for travel and dining along with 1x points for all other purchases. Spending $4,000 in the first three months after account opening gets you 60,000 bonus points — which is worth $750 toward travel when you redeem through Chase Ultimate Rewards. Plus, you can earn 5x points for all Lyft rides through March 2022.

Getting the most from your Chase Sapphire Preferred Card means remembering that your points are worth 25% more when redeemed for travel directly through Chase Ultimate Rewards, making this the best option wherever possible to maximize reward value. Chase Ultimate Rewards also offers plenty of options with no blackout dates on flights or hotels, to find your best-fit travel bonus.

Understand how to redeem rewards

Each credit card listed above comes with its own rewards redemption program and rates. As a result, it’s worth reading through the terms of your credit card agreement and exploring your credit issuer’s website to determine the best value for points redemption.

For example, cash back earned on the Discover it Cash Back card can be redeemed in any amount at any time as credit on your Discover card account or deposited directly into your bank account. You can also pay for purchases at Amazon.com at a rate of $1 cash back dollar to $1 at Amazon.com.

Rewards with Capital One are redeemed as cash in the form of a check, gift card or statement credit. Cash can be redeemed at any time in any amount — you can even set up automatic redemption — and cash back doesn’t expire. As noted above, gift cards are an option for Capital One redemption but don’t typically provide the same value as redeeming cash back for checks or statement credit.

Wells Fargo points can be redeemed online for cash, airline tickets, merchandise or gift cards. Unlike the other cards on this list, however, they can also be used to pay down eligible Wells Fargo loans and mortgages, giving them a unique use that goes beyond travel bonuses or statement credits.

Points earned with your Chase Sapphire Preferred card, meanwhile, are worth 25% more when redeemed for travel via the Chase Ultimate Rewards site. You can also transfer points 1:1 with participating travel partners or redeem directly for cash or statement credit at a rate of $0.01 per point.

Use the card responsibly

While it’s critical to find your best-fit rewards card and understand redemption options, responsible card use is also a priority. Make sure you have a plan to pay off big purchases — even if you’re using intro APR — to avoid large interest charges and leave room on your card for new spending. If there’s no credit left on your card, there’s no way to earn more points. Purchases only generate points, miles or cash back when processed, meaning the quicker you’re able to pay your card down, the quicker you can start earning more rewards.

Maxed-out cards also mean you could miss out on category bonus spending or limited-time offers. Consider the Discover it Cash Back card categories;if you have no room left on your card when the category spending quarter rolls over, you could miss out on 5% cash back.

Another option to help maximize your rewards earning is to apply for multiple cards used for specific purposes. For example, you could apply for a Capital One Quicksilver Cash Rewards card for your everyday spending — such as trips to the grocery store and drug store — and also carry a Wells Fargo Propel American Express card for when you’re traveling. In this instance, the big benefit is doubling up; you can earn maximum rewards from multiple cards at the same time to make the most of your spending.

However, there’s also a big caveat. In this case, responsible use is more critical than ever. With multiple cards, you need regular monitoring and financial management to ensure balances are always paid on time and there’s always room to earn more rewards.

While it’s good to put all of your purchases on your card, never spend simply to get extra rewards. If possible, always make sure you have enough in the bank to cover your full credit card statement each month, not just the minimum payment. Remember, APRs and late fees can quickly cancel out your rewards and put you in the negative.

Conclusion

Not sure how to maximize credit card rewards? Start by analyzing how, where and when you spend. Once you’ve picked your best-fit card, make sure you know how rewards are redeemed, what limitations exist and which redemption options offer the most value. Finally, it’s worth considering responsible card use. Maxed-out cards can’t generate new rewards, and if you can’t make your minimum payments, your credit rating may suffer. If you have the financial stability and organizational skill to manage multiple credit cards at once, you can maximize rewards across multiple cards at the same time. The right card and the right spending habits combined with the right approach to redemption can help maximize your credit card rewards.

Information regarding the Wells Fargo Propel, Discover it Cash Back, and Capital One Quicksilver was prepared by NextAdvisor.com staff. Opinions expressed therein are solely those of the writer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented on this page is accurate as of the date of the post.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post How to Maximize Your Credit Card Rewards appeared first on NextAdvisor.

Cash back cards can be valuable moneymakers for responsible credit users and with Chase cash back cards you have a unique opportunity to score bonuses and rewards as you make purchases. Chase also offers protection perks like extended warranties for purchases that can benefit cardholders. Plus, the Chase cash back cards mentioned in this guide come with zero annual fees, which is one less thing to keep track of. Learn why you might want a Chase cash back card and options available in this guide.

The benefits of a cash back card

Charging purchases to a cash back card means you earn cash back with every purchase. As long as you pay in full what you owe each month, you’ll avoid paying interest fees and will make back free money just for using your credit card.

With any Chase cash back card, you’ll want to pay attention to intro bonus offers. Your card will need to be charged a certain amount within a specific time frame to earn the intro cash back bonus; this can be up to $3,000 with the cards mentioned here.

Some spending categories also offer a higher cash back percentage. You could earn up to 5% cash back up to a certain amount with some Chase cash back cards when you spend in particular categories. Make sure you use the appropriate card for the appropriate categories to maximize your cash back rewards.

Chase Freedom Unlimited

The Chase Freedom Unlimited® card is a personal credit card offering unlimited 1.5% cash back on all purchases. Cardholders can get a bonus $200 cash back after spending $500 in transactions within the first three months of account opening. You also get a 0% intro APR rate for 15 months after the account has opened on purchases and balance transfers (with a 3% or $5 minimum balance transfer fee for the first 60 days, then 5% or $5 after that). After that, the APR is 14.99% to 23.74% variable. This card also includes fraud protection, zero liability protection, purchase protection and extended warranty protection.

Chase Freedom

The Chase Freedom® credit card also offers a bonus cash back offer of $200 cash back after cardholders make $500 worth of transactions within the first 3 months. There’s also a 0% intro APR rate period for the first 15 months on balance transfers and purchases (with a regular APR of 14.99% to 23.74% variable). The balance transfer fee is 3% or $5 for the first 60 days, then it rises to 5% or $5.

Cardholders can earn 5% cash back on up to $1,500 in transactions in bonus categories every quarter when the categories are activated by the cardholder. Categories often include places like grocery stores and gas stations and services like streaming and cable services. All other purchases are eligible for unlimited 1% cash back rewards. The card also features fraud alerts and protection, purchase and extended warranty protection and zero liability protection.

Ink Business Unlimited Credit Card

The Ink Business Unlimited Credit Card is a business credit card that provides unlimited 1.5% cash back rewards on all purchases. Cardholders can get a $500 cash back bonus after making $3,000 worth of transactions in the first 3 months. There’s a 0% intro APR period for 12 months from the account opening on purchases; the variable APR is 13.24% to 19.24% after that. Cardholders can get employee cards for free. Plus, the card features purchase and travel protection like extended warranty protection, an auto rental collision damage waiver, roadside dispatch and travel and emergency assistance.

Ink Business Cash Credit Card

The Ink Business Cash Credit Card provides 5% cash back on up to the first $25,000 made in transactions on internet, phone and cable services and at office supply stores each year. Cardholders can also earn 2% cash back on the first $25,000 spent in transactions at restaurants and gas stations each year. Every other purchase earns an unlimited 1% cash back. This card also comes with a $500 bonus cash back offer after spending $3,000 on purchases within the first 3 months.

Enjoy a 0% intro APR period for 12 months from the account opening on purchases, followed by a variable APR of 13.24% to 19.24%. You can get employee cards for free, as well. Plus, the card provides travel and purchase protections like extended warranty protection, roadside dispatch, an auto rental collision damage waiver and travel and emergency assistance services.

How to apply for a Chase cash back card

To apply for a Chase cash back card, you can visit their website. From there, you’ll need to fill out personal information, as well as business information if you’re applying for a Chase business credit card. You’ll need to agree to the pricing and terms and then will receive notification if you’re approved for a card.

Know that applying for a new credit card will require an inquiry into your credit reports, which can temporarily slightly lower them. As you increase your line of credit and lower your credit utilization, you can bring your credit scores back up while earning cash back rewards for yourself or your business.

Using a cash back credit card makes perfect sense when you are a responsible credit card user. As long as you make payments in full and on time, you’ll never owe anything extra for your purchases. You will, however, be able to earn cash back on transactions plus substantial cash back bonuses just for using your credit card for your spending needs. Compare Chase cash back rewards structures to your spending habits to decide on the right fit for you.

Information regarding the Chase Freedom, Chase Freedom Unlimited, Ink Business Unlimited, and Ink Business Cash cards was prepared by NextAdvisor.com staff. Opinions expressed therein are solely those of the writer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented on this page is accurate as of the date of the post.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post Best Chase Cash Back Cards appeared first on NextAdvisor.

Credit cards can be useful tools, but if you aren’t careful, they can also cause you to end up with a bill you can’t pay. If you aren’t able to keep up with your minimum payments, interest charges and fees will continue to pile up, which only makes the problem worse. Eventually, the credit card issuer can sue you for the amount you owe, which will result in a dreaded court summons. If this has happened to you and you aren’t sure what to do, stay calm. Here’s what you need to know.

Consequences of Carrying Credit Card Debt

Unmanageable credit card debt is something that can sneak up on you. So you went a little overboard on your spending and maxed out your card. No big deal. It happens.

After some time, you get another credit card offer in the mail, and you take it. This time, you plan to use it just for emergencies. Then, your car breaks down and you have no emergency fund, so you charge the bill for repairs. Now you have a second card maxed out.

This can go on and on — and has for many Americans. The average American household with credit cards carries over $8,000 in credit card debt. Once you get that far, you’ll have hefty interest charges each month that make it harder to pay down the principal balances.

Carrying high balances on credit cards also hurts your credit scores. The credit bureaus like to see cardholders using a maximum of 30% of their available credit line, so anything above that will cause your credit scores to drop. It will also make it more difficult to get approved for further lines of credit.

Beyond the financial impacts, carrying a large amount of debt can begin to wear on the psyche, too. Just knowing you have this mountain of money to repay can feel like a heavy burden.

Dos and don’ts when you’re negotiating a settlement with credit card companies

If you have a large amount of credit card debt that you don’t think you can repay in full, you can contact the credit card issuer to attempt to negotiate a settlement. To understand why this may work, it’s important to put yourself in the shoes of the company.

They are out the money you have borrowed as well as the interest they should have earned on that amount. They can write it off as a bad debt, take costly legal action to try and force you to repay them or agree to a settlement offer from you. The company will get the least from the write-off, and while they may get the most from taking you to court, it will cost them time and money to do so. A settlement can be a good middle ground consolation.

However, they’ll likely only take a settlement offer if they believe it’s a fair amount and that you’re paying as much as you can. Be sure to look at your finances to see what you can afford — and be honest. The creditor will likely request proof of your income, existing debts and assets to ensure you’re paying what you can.

Responding to a lawsuit and court summons

If you are sued for your credit card debt, you should first try to contact the creditor listed on the documentation to see if there’s a way to reach a settlement outside of court. Before you make this call, prepare yourself with information regarding what you can realistically afford to pay. Often, creditors will be willing to work out a deal that sometimes includes a payment plan or a reduced lump sum of what you owe.

If you’re unable to reach a settlement with the debt collector outside of court, then you must file an answer to the summons within the stated time frame to avoid additional judgments against you.

In your response to the summons, you’ll need to either affirm or deny a lack of knowledge of the claim against you. You’ll also have the opportunity to admit if the claim is true and state a reason, if you have one, as to why you shouldn’t be responsible for the debt. This is called “admission with defense” and you’ll want to write it in a typed and printed letter, referring to yourself as the defendant.

If the allegation against you is false, deny the claim in your response. Keep in mind you should only do this if you are completely sure the claim is untrue and have proof. If you are unsure, it’s best to err on the side of caution and reply that you lack the knowledge to admit or deny the claim.

The most important thing is to read the notice, follow the directions carefully and respond according to any timelines you are given.

Tips to avoid unmanageable credit card debt

Credit card debt can get out of hand quickly, but there are a few preventative steps you can take.

The first thing you should do is work to build up a safety net of extra funds to be used in case of an emergency. Rather than use your credit card for these situations, you can use your savings.

It’s also important to only spend what you can realistically pay back. Resist the temptation to overuse your credit and spend more than what you can actually afford. If you need to make a large purchase with your credit card, have a realistic plan to pay that debt off in a certain timeframe.

And, lastly, figure out what 30% of your credit line is and imagine that is your maximum credit line.

Credit cards can be a great tool if you use them wisely and avoid falling into the trap of spending more than you can afford. If you are served with a court summons for credit card debt, it’s important that you respond quickly and in a way that properly represents your stance in the situation. If you aren’t sure or need help, contact a collection lawsuit defense lawyer for advice on how to best represent yourself on your court date.

The post How to Respond to a Court Summons for Credit Card Debt appeared first on NextAdvisor.

Corporate credit cards describe a type of card designed to meet the needs of large businesses. By large businesses, we’re referring to companies with hundreds of thousands of dollars or more in annual revenue, well-established credit and hundreds of employees.

Corporate cards enable these businesses to separate business expenses from personal expenses, track and manage employee spending, improve cash flow and earn rewards for spending. However, it often comes with hefty fees and strict eligibility requirements.

This guide to corporate cards will help you understand what they are and how they work.

Know the basics of corporate credit cards

Corporate credit cards make it easier for companies with multiple employees to track and manage their expenses. When you open a corporate credit card account, you’ll be able to issue credit cards to your employees, which they can use to pay for expenses like flights, supplies and hotels.

Most corporate cards also allow you to set spending limits for each employee, and they come with accounting tools to make it easier to track your company’s expenditures. You may even be able to earn rewards like airline miles or cash back on purchases, which you can pass onto your employees or put toward future business expenses.

Unlike small business credit cards, which almost anyone who sells products or services can get, corporate cards are reserved for registered corporations with good credit. Additionally, some card issuers require businesses to have a certain amount of annual revenue to be approved. For example, you can’t get an Amex corporate credit card if your business has less than four million dollars in revenue.

Understand your business’s spending habits

Before you apply for a corporate credit card, it’s important to analyze your company’s spending habits. Some corporate cards have monthly spending requirements you’ll need to meet. Figuring out how much you plan to spend each month will help you narrow down the right card for your business.

Many corporate credit cards also offer rewards on purchases. Some cards will give you flat-rate cash back on everything your company buys, while others will reward you for spending in certain categories like dining out. Dig into your financial records to figure out which categories your company spends the most on.

If your biggest expense is travel, for example, you may want to go with a credit card offering a high reward rate on hotel rooms and airline tickets. If you don’t notice any spending patterns, however, you should look into flat-rate cash back cards rewarding you for all of your purchases.

Another factor you may want to consider when choosing a corporate credit card is the welcome bonus. Some cards offer bonus miles or extra cash back when you spend a certain amount of money within the first few months. If you want to maximize your rewards, choose a card with a welcome bonus you think you’ll be able to earn.

Weigh the pros and cons of corporate card fees

Many business credit cards allow you to add employee cards at no extra cost. But if you have a corporate credit card, you’ll likely have to pay a fee for every employee card you open. Amex, for example, charges a set-up fee whenever you add a new credit card to your account. While this is a small fee, it adds up, especially if you have a dozen or more employees. You may even have to pay a yearly maintenance fee for each employee’s credit card, which can get expensive.

In addition to fees for employee cards, most corporate cards have annual fees, foreign transaction fees and late fees if you miss a payment. You’ll also have to pay interest if you carry a balance from month-to-month.

Corporate credit cards also tend to offer lower rewards rates than business cards, which makes it harder to recoup the cost of any fees. For every dollar you spend on an Amex corporate credit card, for example, you may only get one point. But with business credit cards like The Blue Business® Plus Credit Card from American Express (a NextAdvisor advertiser), you’ll earn 2X points on the first $50,000 in purchases per year, then 1X points.

Although corporate cards are the more expensive option, there is one big reason you may want to go with them — the lack of personal liability. Unlike business credit cards, corporate cards don’t usually require you to sign a personal guarantee, so you won’t be on the hook for your company’s debts.

Consider any corporate bonus benefits

Many corporate cards come with extra benefits to sweeten the deal, like a dedicated account manager, travel perks and accounting tools. If you ever have a problem with your card, you’ll likely be able to talk to the customer service rep who’s assigned to your account. You’ll never have to waste hours on the phone resolving issues again, which will allow you to devote more time to essential business tasks.

Your card may also give you access to airport lounges, emergency travel assistance services, discounts on flights or cash rebates on airline tickets. You may even get travel insurance to protect you if you lose your baggage or need to cancel your business trip.

If you don’t travel for business often, you may prefer a corporate card to help you save on business expenses like software and advertising. Brex offers discounts on Google Ads and software like Zoom and Salesforce, which could save your business hundreds of thousands of dollars.

Many corporate cards also offer accounting tools to help you stay on top of business expenses. For example, Amex corporate cards come with a management tool that allows you to track employee credit card activity, identify high-risk transactions, cancel accounts and make payments in one place.

Corporate credit cards can help business owners with large companies separate their personal finances from their business and manage employee spending. They also allow companies to earn rewards on purchases and come with perks like travel insurance, software discounts and more. But in order to qualify for many corporate cards, your business will need to hit certain annual revenue and monthly spending requirements. You may also have to pay a maintenance fee on each employee credit card you open, which could cut into your profits.

However, business cards can offer companies the benefits of corporate cards with lower costs, fewer eligibility requirements and more perks. So be sure to shop around before deciding on a card for your company to ensure you are getting the best value.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post A Guide To Choosing The Best Corporate Credit Cards appeared first on NextAdvisor.

Separating personal and church expenses is essential for those who work for church organizations. According to the Internal Revenue Service’s Income Tax Regulation 1.501, individuals associated with a church are not permitted to profit from it.

To help organize your church’s daily expenses, credit cards are a convenient way to ensure purchases strictly for the church can be accessed in one account to avoid any overlap with personal costs. Plus, if you use a rewards credit card, you may be able to receive additional incentives for the church to use.

To find the best credit cards for churches, check out our guide to help decipher which cards are ideally suited for your church’s needs.

What to look for in a credit card for a church

The best credit cards for churches provide you relevant rewards for spending on the card. Rewards credit cards might come with sign-up bonuses, cash back matches, travel points rewards and other perks. You may also be able to earn more reward value for using the card on certain purchases, like travel-specific purchases.

You can opt for either a personal or business credit card for church expenses, even when you’re a nonprofit organization. The advantage of business credit cards is having access to higher lines of credit, plus you can get multiple cards for various members of your organization to earn rewards faster.

You also want to avoid adding expenses and keep costs low so watch out for fees when trying to find the best credit cards for churches. In some cases, it may be worthwhile to pay an annual fee if the rewards you earn are more valuable. Other cards provide travel protection and travel perks like rental car waivers and 24/7 travel assistance. If you need a credit card for travel expenses, look for a travel-focused card without foreign transaction fees.

If you know you want to make a significant purchase investment and will need some time to pay it off, look for 0% interest credit cards, which typically offer an intro period for 0% APR on purchases and balance transfers.

There are also credit cards with purchase protection, extended warranties and other features for churches to utilize. If you’re going to be using a credit card to purchase equipment and pricey items, you’ll want a card with these features.

Our best credit cards for churches

In some cases, you may want multiple cards for multiple types of purchases and features. Make sure to compare cards in each category to find the best choice for your church. Here is our list of the best credit cards for churches:

The Blue Business® Plus Credit Card from American Express

Learn More

The Blue Business® Plus Credit Card from Amex (a NextAdvisor advertiser) has no annual fee and a 0% intro APR rate for purchases for the first 12 months from the date of account opening with an ongoing APR of 13.24% to 19.24% variable afterward. Cardholders also receive 2x points on the first $50,000 in transactions every year then 1x points on all other purchases. Points are redeemable for travel, merchandise, entertainment and dining. You can make purchases over the credit limit when you need to with no enrollment required and no penalty, while still earning points on those purchases.

American Express Blue Business Cash Card

Learn More

If you want cash rewards instead of points, check out the Amex Blue Business Cash Card (a NextAdvisor advertiser). This card also comes with the same 0% intro APR on purchases for 12 months from the date of account opening and a variable APR rate of 13.24% to 19.24% after that. The card has no annual fee and cardholders earn 2% cash back on transactions on up to $50,000 per year, then 1% on all subsequent transactions with cash back automatically applied to the statement.

Chase Ink Business Cash credit card*

The Chase Ink Business Cash credit card has some nice cash back perks. You can earn a $500 bonus in cash back after spending $3,000 in transactions in the first three months. You also receive 5% cash back on the first $25,000 spent in transactions for phone and cable services, internet and office supply store purchases each year. Collecting 2% cash back on purchases at gas stations and restaurants on up to $25,000 in purchases a year is also achievable with this card. All other purchases earn unlimited 1% cash back and you automatically qualify for additional cards. This business card has no annual fee and a 0% intro APR period for 12 months for purchases, then a 13.24% to 19.24% variable APR rate applies.

Capital One® Spark® Cash for Business*

The Spark® Cash from Capital One® card is another card with cash back rewards. You can receive a $500 cash back bonus after making $4,500 in transactions within the first three months. Earn unlimited 2% cash back on all purchases so there’s no need to keep track of categories. While there is no annual fee for the first year, it increases to $95 annually after that. The card comes with a 20.99% variable APR and zero foreign transaction fees.

How to use credit cards for churches

To avoid legal troubles and produce the best bang for your buck, it’s imperative to establish a comprehensive credit card policy for your church. Make it clear personal expenses should never be charged to a credit card. If you’re giving out multiple cards, make sure someone is monitoring and reporting expenses regularly.

Some financial areas you can use your church credit card for include:

• Travel expenses and transportation
• Equipment, like sound systems
• Clothing and uniforms
• Office supplies
• Donations

As you spend on the credit card, look out for rewards and how you can apply them back to church expenses. These might include:

• Cash back and reward bonuses to lower expenses
• Travel points to cover travel expenses
• Discounts for travel-related charges, like hotels and airfare

In the end

Credit cards make sense for any organization with expenses, including churches. With responsible repayment, you can achieve free rewards for everyday spending. Credit cards also help churches operate legally since the cards make it easy to separate expenses from personal items if the correct user policies are in place. While there are numerous choices, make sure to compare credit cards based on your spending needs so the congregation can maximize its rewards.

*Information regarding the Ink Business Cash Credit Card and Capital One Spark Cash for Business was prepared by NextAdvisor.com staff. Opinions expressed therein are solely those of the writer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented on this page is accurate as of the date of the post.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post Best Credit Cards for Churches appeared first on NextAdvisor.

If you’ve accumulated debt on a credit card and are in danger of being pursued by debt collectors, you need to be aware of the statute of limitations on credit card debt. Knowing this information can protect you if you’re sued by debt collectors. It also helps prevent yourself from inadvertently giving collectors a longer time to sue you.

To help you navigate the difficulties of managing the statute of limitations on credit card debt, we’ve compiled everything you need to know below.

What is the statute of limitations?

The statute of limitations is the maximum time period someone is restricted to if they want to file a lawsuit or criminal charges. A statute of limitations provides some protection from people being sued even after evidence has disappeared.

Each state has a different statute of limitations regarding credit card debt. If the statute of limitations has passed and you owe money, a collector cannot take legal action against you to get it. The creditor can still continue to pursue payments from you, just not in court. If the collector attempts to take you to court after the statute of limitations has passed, you can dispute their action and prove why the case should be dismissed which is why it’s important to keep detailed records of every interaction you have with debt collectors.

Keep in mind if you acknowledge in writing you owe the debt or you make any payment (even a small one) on the debt, the clock for the statute of limitations will reset. Ask the collector when the date of the first missed payment was so you can determine when the statute of limitations started running. You can also ask the collector what the statute of limitations is without acknowledging what you owe, but the collector is not obligated to give you this information.

Even after the statute of limitations passes, you’ll still owe the debt. If you stop paying your credit card bills, it will factor into your credit scores and can impact your ability to secure a loan or receive a good credit card. Derogatory marks, including debt you never repaid, can stay on your credit reports for seven years and alter your credit scores.

Also, not paying your credit card debts means you’ll owe more interest and late fees, plus you’ll accumulate a higher credit card debt balance which can negatively impact your credit score. In some cases, your wages may be garnished for payment for what you owe.

State-by-state guide on the statute of limitations on credit card debt

Each state has the power to create its own laws and statute of limitations on credit card debt. Even if you accumulated the debt in a different state, the state’s laws where you reside are what will determine the statute of limitations.

Here’s a state-by-state breakdown as of December 2019. If you are being contacted to pay credit card debt, check with a lawyer in your state to get the most current credit card debt statute of limitations.

• Alabama: 3 years
• Alaska: 3 years
• Arizona: 3 years
• Arkansas: 5 years
• California: 4 years
• Colorado: 3 years
• Connecticut: 3 years
• Delaware: 3 years
• Florida: 4 years
• Georgia: 4 years
• Hawaii: 6 years
• Idaho: 4 years
• Illinois: 5 years
• Indiana: 6 years
• Iowa: 5 years
• Kansas: 5 years
• Kentucky: 5 years
• Louisiana: 3 years
• Maine: 6 years
• Maryland: 3 years
• Massachusetts: 6 years
• Michigan: 6 years
• Minnesota: 6 years
• Mississippi: 3 years
• Missouri: 5 years
• Montana: 5 years
• Nebraska: 4 years
• Nevada: 4 years
• New Hampshire: 3 years
• New Jersey: 6 years
• New Mexico: 4 years
• New York: 6 years
• North Carolina: 3 years
• North Dakota: 6 years
• Ohio: 6 years
• Oklahoma: 5 years
• Oregon: 6 years
• Pennsylvania: 4 years
• Rhode Island: 10 years
• South Carolina: 3 years
• South Dakota: 6 years
• Tennessee: 6 years
• Texas: 4 years
• Utah: 4 years
• Vermont: 6 years
• Virginia: 3 years
• Washington: 6 years
• West Virginia: 5 years
• Wisconsin: 6 years
• Wyoming: 6 years
• Washington, D.C.: 3 years

How to avoid accumulating credit card debt

To avoid credit card debt in the first place, it helps to have a strategy for making on-time and in-full payments. Paying on time enables you to keep your credit utilization low, avoid paying interest and reap credit card rewards with zero cost. Look into how to set up automatic payments on your credit card from your debit account so you are never late with payments.

It can help to treat a credit card like a debit card. Only make a charge when you know you already have the funds to pay it back. If you do need to make a large purchase you can’t pay back right away, create a repayment plan for yourself so you can completely pay off what you owe. You should also have a budget in place to avoid overspending and create an emergency fund you can withdraw from in an emergency instead of using your credit card.

When you have credit card debt, you can either pay off the debt with the highest interest first or pay off the smallest debts to create momentum. Always make paying off your debt a priority over new purchases.

If you need extra help, try lowering your bills by eliminating subscriptions you don’t use and refinancing what you can. Look into taking on extra work and put the income toward your debt. You might consider a debt consolidation loan to lower your interest rate or transferring debt to a balance transfer credit card. You can also talk to your credit card issuer about debt relief options or get credit counseling to create a plan to eliminate your debt.

Conclusion

Credit card debt is stressful, especially when lawsuits are a possibility. Know your rights by paying attention to the credit card debt statute of limitations in your state. You’ll still need to pay off your debt to protect your credit even when the statute of limitations has passed. Get professional help if you need it so you can eliminate your debts and improve your credit scores.

The post State Statutes of Limitation for Credit Card Debt appeared first on NextAdvisor.

Credit card convenience checks, also known as credit card checks, are a benefit issued by credit card companies to cardholders. They are often sent out with your monthly statement. The checks however incur a cost upon using them. Continue reading to find out the pros and cons of credit card checks and to see if they are a useful tool for you.

What is a convenience check?

Similar to a personal check, a convenience check is a blank check that you can write and use anywhere issued by and connected to your credit card. The amount you write the check for counts against your credit line and is added to your credit card balance.

How can you get one?

In many cases, convenience checks are included with your monthly credit card statement. There may be two or three printed on a single piece of paper; just cut or tear them along the perforated lines, and they are ready to use.

If you want to use a convenience check, you call your credit card company and request them. However, there may be a fee for this service, so if you think you might want to use one, but don’t have a specified time in mind, just wait until your next statement to see if they send any.

A third way to get convenience checks is as a promotional offer from a credit card company that you’re not yet doing business with. It may send these checks as a way to pique your interest in its card.

What are the benefits of convenience checks?

Convenience checks offer just what their name implies: convenient access to money. You don’t need to take out another loan to get some quick cash or open another credit card to have access to a line of credit. The credit card company is making it easy for you to remain a loyal customer.

When you’re in a financial pinch (say your refrigerator goes out on you), all you need to do is take your convenience check and shop for a new fridge. There’s no need to go to the bank to take out a small loan or risk hurting your credit scores by taking out a store credit card. You should be careful that you don’t overspend your credit card limit, however, as then you’ll have to do with over-limit fees.

Even though using a convenience check isn’t totally free, and sometimes the interest rate or transfer fees are considered high, they usually offer better rates and fees than payday loans and can prove to be a cheaper way to get out of debt.

The benefits of convenience checks are useful for some situations, but be sure you know the terms and conditions so you truly benefit from them.

What are the downsides of convenience checks?

As with anything, there are drawbacks to credit card checks. One is that they can be expensive to use. They may offer a low intro interest rate, which makes them appealing for doing a balance transfer from a high interest credit card to pay off debt, but you need to consider the balance transfer fee, which is often 3% to 5% of the total transferred. Additionally, if you don’t pay off the amount before the intro period is over, you’ll be paying a high rate of interest. Read the terms and conditions carefully so you know exactly how the interest is charged.

Another drawback is that there may not be a grace period like you get when you use your credit card. This may not be a problem if the convenience checks come with 0% interest for a certain length of time, but if interest does start accumulating from day one, you could be in for a shock when you see your next credit card statement.

In today’s modern society, not all stores take checks anymore. While some smaller local businesses might still accept a check, generally, most larger stores frown upon this form of payment because the risk of fraud is so great. You also need to think about fraud on your end. If you lose a check in the store or it gets into the wrong hands, you could experience a huge financial setback.

Conclusion

Credit card checks can be very useful to you if you are in a situation where you need extra cash quickly or funds to make a purchase right now. They’re also great for paying off debt that has a much higher interest rate. However, if your situation does not fall into one of those categories, you’re better off not using credit card convenience checks. The fees and lack of a grace period make them a bad choice for everyday spending that you could put on your rewards credit card.

The post Credit Card Convenience Checks Guide appeared first on NextAdvisor.

One of the more practical benefits of marriage is you and your spouse combine things; you’re no longer operating two sets of households with the requisite expenses. Another area you can combine and save time and money is with your finances. Maybe you’ve done that already, but what about your credit cards?

You probably both have your own credit cards from before you said “I do,” but getting a joint credit card might be worth considering if you and your spouse share the same money mindset and approach to finances.

What to consider before getting a joint credit card account

Those who are on the same page with their finances and communicate regularly about spending are prime candidates for joint credit cards because of the convenience they offer. By having one joint account for their purchases, couples will lower the risk of late or missed payments. They will also accumulate rewards faster, making it easier to meet any sign-up rewards spending requirements.

A joint credit card can be excellent if one spouse was previously financially irresponsible to some degree or had no credit. The ability to piggyback on their spouse’s existing credit to get the card will be an asset to them. As an added bonus, they will have the built-in accountability of their spouse to ensure the minimum payments are sent in on time. Over the first year of use, their credit score should rise. This change in score will come in helpful when they want to do something needing a credit check, like renting a new apartment, taking out a mortgage or switching auto insurance providers.

Not all couples combine their finances, and for many reasons. A common one is one partner is irresponsible with money. If you find yourself in this situation, a joint credit card is probably not the best idea for you. You have worked hard to build up an excellent credit score, but a single missed payment on an otherwise great credit history can cause a significant drop in your credit score. Another negative aspect of having a joint credit card is in the event of divorce or death, both parties are responsible for the debt, regardless of who actually accumulated it.

Best joint credit cards for married couples

These days, there are not many options for getting a true joint credit card. Here are two of the best credit cards for married couples to offer nice benefits:

• Bank of America® Cash Rewards credit card currently offers a sign-up bonus of $200 after spending $1,000 on purchases in the first 90 days. Choose from one of six categories to net your 3% cash back, plus 2% at grocery stores and wholesale clubs (for the first $2,500 in combined purchases) and 1% on all other purchases. There’s a 0% intro APR for the first 15 billing cycles on purchases (ongoing APR 13.99% to 23.99% variable) and no annual fee.
• Capital One® Quicksilver® Cash Rewards Credit Card offers a 0% intro APR on purchases for the first 15 months (ongoing APR 15.49% to 25.49%). This card makes it a great choice for those who have a large purchase they can pay off before the APR increases. All purchases are eligible for 1.5% cash back. There’s a bonus opportunity of $150 after spending $500 on purchases within the first three months and no annual fee.

Most banks do not offer joint credit cards anymore, so adding your spouse as an authorized user is a way to share a credit card with them. The main difference is it will not help or hinder, the authorized user’s credit. Both of you will find all purchases on the same statement at the end of your fiscal month, and if necessary, you can remove them from the card whenever you’d like. In an untimely circumstance, the authorized user will not be legally liable for purchases on the card.

How to get a joint credit card

Now that you’ve decided to get a joint credit card and picked the one you want, it’s time to apply. The application is nearly identical to what you would do if you were applying for your own personal card.

Make sure you have all of the information you need for the application handy. When applying online, sometimes the websites of financial institutions will time out. You don’t want to get halfway finished only to have it all vanish because you took too long looking for your employer’s address.

Generally, you need the following information for each person when you apply for a joint credit card with your spouse:

• Full names.
• Date of birth.
• Address and phone number.
• Employer name, address and phone number.
• Annual income.

Online credit card applications generally only allow one applicant. After approval, you can call them to add the other partner as a co-applicant. Following the credit check, the other person will be added to the card.

Once you do get your new credit cards, be mindful about closing your old ones. Too many credit cards harm your credit, but so does closing out your oldest one. Consider keeping that one open and using it once a year to keep it active, and your score high.

How joint credit cards affect credit scores

Applying for a new credit card may affect your credit score because the issuer should check your credit reports using a hard inquiry, and if you have multiple hard inquiries in a year, your score may drop. It’s best to only apply for the card you really want and are quite sure you will qualify for. If neither of you has good credit, try applying for a credit card to rebuild your credit.

Once approved for a joint account, your available credit limit will be larger than before. If you suddenly use up a large portion of your limit by maxing out a card to finance a home renovation, your credit score could drop. However, as long as you are not spending up to the limit each month and paying off your balance, your credit score should remain stable.

Conclusion

While getting married won’t change your credit score, having joint financial accounts like credit cards or mortgages will make an impact. Responsible use of the account will yield positive credit score results for both of you. Likewise, even one slip up will cause both of your scores to drop.

Those who have vastly different money habits might be better off adding each other as an authorized user on one person’s card if they want to keep their finances together but streamlined. Otherwise, keeping separate credit card accounts might be a better choice until both partners feel comfortable having a joint account.

Information regarding the Bank of America Cash Rewards and Capital One Quicksilver Cash Rewards card was prepared by NextAdvisor.com staff. Opinions expressed therein are solely those of the writer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented on this page is accurate as of the date of the post.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post Best Credit Cards for Married Couples appeared first on NextAdvisor.

Before 2009, the minimum age for a credit card was 18 years old; you could even obtain a credit card in your own name even if you didn’t have a job. Today, the rules are different, you must be 21 years old to get a credit card in your own name, unless you can show written proof of income or have someone cosign on the account.

If you are trying to establish credit at an early age, there are certain financial requirements you need to know. Read on to find out more information about the minimum age for getting a credit card.

At what age can someone get a credit card?

Per the rules stated in the Credit CARD Act of 2009, the legal minimum age for getting a credit card is 21 years old. However, there are some additional financial requirements that allow someone as young as 18 years old to obtain a credit card. If you are between the ages of 18 to 20 years old and want to apply for a credit card, you will need a cosigner who is a parent, legal guardian or someone else who is at least 21 years old and has the means to take responsibility for any debts incurred on the account.

You can apply for a credit card without a cosigner, but only if you have a steady job and can show written proof of independent income to cover the minimum payments due. This proof can come in the form of paycheck stubs or tax documents, and you’ll need to send it to the credit card company.

Why would someone want a card that young?

Credit plays an important role in all of our financial lives, and because of this, it makes sense to establish credit as early in life as possible. The sooner you can start proving a good history of managing your money, the more choices you will have in the future. As with any other habits in life, it’s often easier to create smart financial habits when you are young versus when you are older and have more financial responsibilities.

Your credit scores are a good predictor of credit risk to different creditors and lenders. If you have a good credit profile, lenders will look at your past payment history as an indicator of future payments. The same is true in reverse, where creditors will be hesitant to extend credit if your past history of payments has been spotty. This may lead to increased deposit amount or interest rate to offset this risk.

A good credit profile can sometimes help you get a better job, since some employers do take your credit profile into consideration when hiring.A great credit history can help you qualify for a smaller security deposit on your first apartment, since landlords will often look at your credit as a determining factor for paying your rent on time. You may even be able to get a lower interest rate when purchasing your first car as well as paying less for car insurance premiums.

What should new cardholders look for in their first card?

Your first credit card should be one that has a low annual fee, or no annual fee, and comes with flexible payment terms and conditions. You want to be able to make a mistake, like accidentally missing a payment, without it completely ruining your financial history. The goal is to establish credit in an inexpensive way while you work on managing your money.

Some of the top credit card choices for new cardholders include retail credit cards, student credit cards and other starter credit cards. Retail credit cards are usually offered from retailers, like Target or Macy’s, and allow you to spend money at their store using your credit account as payment. This type of credit card often has a lower threshold for approval which can make it easier to get approved if you have no credit history. Student credit cards cater to students and their current lifestyle needs. A student credit card usually has lower fees, points for getting above average grades and more flexible payment terms.

Another idea for building credit relatively quickly is to become an authorized user on another person’s account. There is no age limit for authorized users and you can even get a card in your own name. The primary card user is responsible for making the payments and managing the account. The benefit of this is that the account history and activity are reported on your credit profile.

Getting a starter credit card if you are younger than 21 can be tough, but it’s not impossible. Just follow the tips outlined above to start building credit and establish smart money habits as soon as possible. If you are between the ages of 18 to 20, consider applying for starter credit cards like a retail credit card or student credit card to help build credit responsibility. You may also want to enlist the help of a parent or legal guardian, unless you can successfully prove enough independent income to make the monthly payments.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post What is the Minimum Age to Get a Credit Card? appeared first on NextAdvisor.

It seems as if not a month goes by that there isn’t news about another online data breach or that a company’s data vulnerability to hackers. Because of this, consumers are researching different options for protecting their personal information and finding more secure ways of shopping online. If you are thinking about using a virtual credit card for better protection, but aren’t sure what the pros and cons are, this guide will help you make the most informed decision possible.

What is a virtual credit card number?

A virtual credit card is a randomly generated set of numbers that are linked to your actual credit card account. It works just like a regular credit card but adds another layer of security when shopping online.

Here is how it works: you obtain a virtual credit card number directly from your bank or by linking a pre-existing card to an online service that works with your bank. Depending on the type of credit card you have, whether it is a Mastercard or Visa for example, you can use a virtual credit card service via an app. This app will create a new virtual credit card number for every single online transaction.

Every virtual credit card number is unique and can only be used once — think of it like a one-time use token. This token includes a unique credit card number and security code, just like a normal credit card account. It may also come with the option to choose an expiration date as well as a spending limit.

When you have done your online shopping and your cart is full, simply check out online or make an order over the phone, just like normal. The online merchant sees and processes a virtual credit card number the same way they would any other purchase. Your purchases are processed and show up on your monthly bank statements as usual. The entire process is pretty straightforward, but with one additional step that helps protect your personal information.

Perks of using a virtual credit card number

Here are some reasons why using a virtual credit card number can make sense when shopping online or over the phone.

• Reduces the risk of identity theft and fraud: Most online retailers store a customer’s personal data and payment information for easy checkout. While this is convenient, it can create a problem if your account is hacked. Using a virtual number helps reduce the risk of identity theft or fraud since the online retailer never gets access to your actual credit card number.
• Keeps your credit card account open: In today’s tech-driven world, data breaches are a regular part of online shopping. When this happens, you have to close your credit card account and get a new one. This can be quite a hassle if it is your main credit card account and have recurring payments attached to that number. However, in the event of an online data breach where you used a virtual credit card number, that virtual card can be closed instead, allowing your main credit card account to stay open.
• Allows a spending limit: Your virtual credit card may also come with the option to set a spending limit for added control over your budget. Once this amount has been reached, no more purchases can be made using this credit card number. This feature can be useful to maintain control of your online spending or when sharing a credit card with a spouse or other family member.
• Includes an expiration date: You can set your virtual credit card number to expire on a specific date. This will help ensure that purchases are only made within the timeframe you choose, giving you peace of mind over your spending. For example, if you use a virtual credit card number for a subscription purchase, it will only charge the account until the date of the expiration.
• Speeds up online checkout: Entering your payment information during checkout over and over can be time-consuming. Thankfully, some banks have an app or extension that works with browsers like Chrome or Firefox to automatically populate your virtual credit card number during checkout. This makes it a more convenient and easier way to securely make purchases online without the hassle of entering your information each time.

Downsides of using a virtual credit card number

While using a virtual credit card number does come with some perks, there are a few downsides to note as well.

The most notable downside is that they only work online or over the phone. You can not use a virtual credit card for making in-person purchases or where you would swipe a physical card.

Refunds can also be problematic since a virtual credit card number is only for one-time use and usually comes with an expiration date. This could lead to your refund being issued as in-store credit.

Virtual credit card numbers can also give you more control over your money management, thanks to features like spending limits and expiration dates. If you want the flexibility of using a credit card online but with added protection and convenience, then a virtual credit card may be a smart option for you.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

The post A Guide to Virtual Credit Card Numbers appeared first on NextAdvisor.