This offer expired on November 11, 2011.

Southwest Airlines has jumped into the “amazing rewards” fray with their new Rapid Rewards program. As part of this new program, their Rapid Rewards® Premier Credit Card gives you 50,000 Bonus Points after your first purchase.

The 50,000 points are worth over $800 in Wanna Get Away® Fares that can be redeemed for 2 FREE round-trip flights on Southwest Airlines. These rewards have no blackout dates. And, they can be used on any seat and any flight – no restrictions!

In addition to flights, you can also redeem your points for $500 worth of gift cards at BestBuy, Amazon.com, and WalMart (among others). Or, you can use the miles for free stays at hotels and free rental cars.

The card costs you $99 $69, but the 50,000 point sign-up reward easily makes up for the credit card’s annual fee.

When I ran across the AAdvantage credit card online, I knew it was a great deal. We got the card and met the spending requirement in just 2 months. I was surprised when Citibank sent the miles to my American Airlines AAdvantage account the next month. I figured it would take them a lot longer.

Once we had the rewards, we booked our tickets as soon as we could. The standard reward at the peak travel time was 60,000 miles, but we were lucky. The first half of our trip was before the peak travel season, so our round-trip tickets only cost us 50,000 miles. We still have miles left over.

Ever since I got this offer, I keep looking for it again. Unfortunately, the 75,000 miles offer is gone (for now). But, I did find a 50,000 miles and a 30,000 miles American Airlines AAdvantage credit card offer on their site.

American Airlines 50,000 miles AAdvantage Credit Card (expires November 30, 2011)

• Spend $3,000 in first 4 months
• $0 Annual Fee for the first year ($85/year annual fee after that)

American Airlines 30,000 miles AAdvantage Credit Card

• Spend $750 in first 4 months
• $0 Annual Fee for the first year ($50/year annual fee after that)

Once you get your miles, make sure to book your tickets as soon as you can. We booked our flight a month in advance and did pretty well. But, the earlier you get the flights, the better your flight times and seating assignments will be.

Get the card, meet the spending requirement, and let Citibank and American Airlines pay for your flight on your next vacation.

Last week, I got the statement for one of my credit cards – with an $85 annual fee. Ouch!

I don’t like paying annual fees on credit cards, so I wasn’t very happy. I decided to call the credit card company and see what they could do.

Normally, I get credit cards that have no annual fee. And this card was no different. They waived the annual fee – but only for the first year. It was such a great sign-up bonus that I went against my better judgement and got the card – fully intending to cancel before the second year.

Well, I forgot.

When I got the statement, I called customer service and asked them to waive the annual fee. The customer service agent told me she was unable to do that. She told me all of the wonderful things about the card. She said that it’s a really good deal and they need the fee to provide all of the great benefits.

I told her thanks, but I’d rather cancel the card and get a refund on the annual fee.

She said she can’t process card cancellations. So, she’d have to transfer me to another department.

I was transferred.

Then, another friendly agent answered the phone. He told me he was sorry to hear that I wanted to cancel the card. I told him that I liked the card, but was unwilling to pay the annual fee.

He said that he has a special promotion running that lets him waive the annual fee for me this year. He also said that he wanted to give me an additional bonus for the next 18 months – 500 extra points every month that I spend $500 or more.

Wow! Okay. I agreed to keep the card for another year, and I’m now going to use the card more.

Smart move – credit card company!

Next time you get an annual fee, don’t just pay it. Call customer service and see what they can do.

Here’s how you can call and get a refund on your annual fee.

1. Be ready to cancel the card. Otherwise, you have no room to negotiate. And, sometimes the best thing to do is cancel.
2. Be nice (but firm)! If you’re nice to them, then they’ll probably be nice to you. And, it’s just friendly.
3. Explain that you like the card, but don’t like the fees.
4. Stop talking and let them respond. They’ll usually say no the first time.
5. If they don’t offer to waive the fee, tell them (nicely) that you’d like to go ahead and cancel the card.
6. Let them respond. At this point they’ll either make you an offer, or they’ll tell you no.
7. Depending on their answer – take the offer, or cancel the card.
8. Done!

Calling all dog lovers – CapitalOne® has released a fun new feature with their CapitalOne® Cash Card!

Part of the set up process for this great credit card is uploading the image of your choice that is emblazoned on the card itself!  You can always have a picture of your pet right at hand, and you know everyone is going to ask you about it!

I have a seriously cute dog, one of the kinds of dogs that literally stops traffic with her cuteness.  Maybe not on busy streets, but certainly in my neighborhood – she has these huge ears that are almost always standing up, but she’s built real low to the ground.  I’ve never produced a photo of her without getting a genuine “Awwwww” in return.  How much fun is it going to be when I get my credit card in the mail with her picture on it?

A lot!  And the picture isn’t the only great thing about this card, either.

• $100 Bonus after you spend $500 in the first 3 months
• 50% bonus on the cash back you earn every year
• 1% cash back on all purchases
• No annual fee
• Earn unlimited cash rewards that don’t expire
• Redeem cash rewards anytime for any amount, even set up automatic redemption
• Personalize your card with an image of your choice
• 0% intro APR on purchases and balance transfers until September 2012

It’s like they’re paying me to carry the card!  I don’t usually carry a balance on my card, but I use it for everything. And considering I’m about to buy a new couch, I’ll be able to put it on this card, meet ALL the requirements for the $100 bonus and have almost a year to pay it off with no APR.

If you do have a balance on a credit card, now would be the ideal time to transfer your balance and take advantage of that 0% APR as well!

So it’s a great idea, a great card, generous offers and cash back – where do I sign up?

Why, you sign up right here!

See Card Details and Apply for the CapitalOne® Cash Card (secure application)

Here’s the second part of the 2-part primer on everything you wanted to know about credit scores.

• Part 1: FICO Score
• Part 2: FAKO (fake-o) Scores

What is a FAKO (fake-o) Score?

The word FAKO refers to any credit score that doesn’t use the proprietary FICO scoring method. The 3 credit reporting agencies have created their own (FAKO) scoring methods. In addition to their own scoring methods, they got together and created a shared credit scoring system called VantageScore to compete with FICO.

The main complaint with these scores is not that they aren’t valid, but that they are irrelevant. Very few lenders use these scores; most use the original FICO scores.

That said, it’s still worthwhile to signup for free a FAKO score from each of the credit agencies so you can broadly monitor your credit. While it won’t tell you your FICO scores, it will tell you if your credit is generally in good shape, and alert you to any significant changes. If you see a large change in one or more of the scores, then you should get your once-a-year free credit report to see what has changed.

Here are the different FAKO scores available at each of the 3 credit agencies.

Vantage Score (TransUnion, Experian, and Equifax)

In 2006, to try to win business from FICO, the three major credit-reporting agencies introduced VantageScore. According to court documents filed in the FICO v. VantageScore federal lawsuit the VantageScore market share is less than 6%. The VantageScore score methodology produces a score on a scale of 501 to 990.

TransUnion

Credit Karma – TransUnion’s TransRisk Score and TransUnion’s Vantage Score – It’s their own calculation based on information in your TransUnion credit report. The TransRisk Score is on a scale from 300 to 850.

• Sign up for your TransUnion FAKO score at www.creditkarma.com. This is not your FICO score, and the score is completely free – not a free trial.

Equifax

Equifax Score Card – ScoreCard is Equifax’s proprietary scoring model and has a scale of 280 to 850.

• Sign up for your Equifax FAKO score at www.equifax.com/creditscorecard. This is not your FICO score, and the score is completely free – not a free trial.

Experian

Credit Sesame – Experian’s Scorex PLUS (Experian’s National Equivalency Score) – It’s their own calculation based on information in your Experience credit report. Scorex PLUS is on a scale from 360 to 840.

• Sign up for your Experian FAKO score at www.creditsesame.com. This is not your FICO score, and the score is completely free – not a free trial.

Quizzle – The CE (Community Empower) Credit Score based on your Experian credit report. The CE Score is published by CE Analytics and licensed to Quizzle. The score uses the information in your Experian credit report and runs it through this formula to caluculate your score. The CE Score is on a scale of 350 to 850.

• Sign up for your Experian FAKO score at www.quizzle.com. This is not your FICO score, and the score is completely free – not a free trial.

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Call it a case of youthful naïveté – in 1994, artist Cain Motter received a convenience check in the mail for $50 – and he spent it believing it was a gift. It wasn’t, of course; it was a standard marketing strategy used by many credit card companies. He learned that lesson when he received a bill in the mail for that amount plus the usual charges a credit card company applies.

Either way, it made him start thinking about credit cards in different ways, and led to a credit meltdown of an entirely different kind.

Using heat, scissors and a lot of imagination, he turns the cards he receives in the mail or collects for his art into sculptures that make a big statement about that little piece of plastic in your wallet and corporatism in general.

Whether it’s the day laborers bursting from the Home Depot™ credit card, or the American soldier crawling across the face of the flag, his work looks to examine the meaning behind the symbolism and the culture that credit cards use. They’re strong statements in miniature, which seems to be the point – these little cards have a lot of influence over our lives and our lifestyles. That requires thought, patience, and thorough research.

Motter may have made that mistake when he was younger, but his art serves to inspire people who see it to look at their credit cards in quite a different way.

And that’s something everyone can agree is a smart thing to do.

You can find Cain Motter here on Facebook.

If you have fair credit and need to make a new purchase (but don’t have the cash), then Household Bank can help. Their Rewards Mastercard charges you 0% interest for the first 9 months. Simply apply for the credit card and make your purchases. Anything you buy will be added to your balance, and you’ll pay no interest for the first 9 months you have the card.

Household Bank also gives you something I’ve never seen in a credit card for someone with fair credit – 2% cash back on every dollar you spend. Most credit cards only give you 1% cash back on purchases – if they give you anything at all.

In addition to the 0% interest and 2% cash back, this card has no annual fee for the first year (saving you $39). If you don’t want to pay the $39 annual fee in the second year, you can easily cancel the card.

See Card Details and Apply for the Household Bank Rewards Mastercard (secure application)

Some people will enjoy the 9 months with no payments, but I suggest you start paying off part of the balance each month. To quickly pay off the entire balance, divide the amount you owe by 9 and make that your monthly payment.

amount-you-owe / 9 = monthly-payment

Make sure to pay off your credit card within 9 months, or you will start getting charged interest on the remaining balance – currently 19.90%.

So, as long as you have fair credit and can pay-off the balance in 9 months – this is a great deal.

Don’t wait to make that needed or special purchase – apply for the Household Bank Rewards Mastercard today.

See Card Details and Apply for the Household Bank Rewards Mastercard (secure application)

Let’s face it – credit scores are confusing. It’s taken me a long time to get the scores figured out. So, here’s a 2-part primer on everything you wanted to know about credit scores.

• Part 1: FICO Score
• Part 2: FAKO (fake-o) Scores

What is a FICO Score?

The FICO (Fair Isaac Corporation) Score is your credit report distilled down to a single number. The intent is to predict your credit worthiness based solely on the information contained in your credit reports. FICO takes your credit report from each of the 3 credit reporting agencies, runs it through their proprietary formula, and generates a credit score with a range from 300 to 850.

Since there are 3 different credit reporting agencies, there are 3 different FICO Scores.

FICO Score Names for Each Credit Reporting Agency

• TransUnion – FICO Risk Score / Empirica (name of the lender version)
  
• Equifax – BEACON
• Experian – Experian/FICO Risk Model

To make the story more complicated, on February 13, 2009 Experian ended their 6 year agreement with Fair Issac that allowed Fair Isaac to sell the Experian FICO Score to consumers. FICO still creates a score for Experian, but Experian only sells it directly to lenders, not consumers.

Prior to 2011, the only way you could see your Experian FICO Score was to get it from your lender, if they agreed to share it with you.

How do I see my FICO Score?

1. Your lender will send it to you.

On January 1, 2011, the Fed and the FTC enacted a ruling about credit decisions and notices that required lenders to share your credit score with you if any one of these 3 situations occurred:

• If you have been denied or declined credit based on your credit score
• If you are offered credit on less favorable terms because of your credit score.
• If the APR on an existing credit account is increased because the lender has reviewed your credit report or score.

2. Buy it directly from FICO.

If you aren’t affected by any of the 3 situations above, then you’ll have to pay to see your Equifax and TransUnion FICO Credit Scores. You can get them directly from FICO. Sign-up for the free trial on myFICO.com. Just make sure you cancel your free trial within the first 10 days if you don’t want to pay the $14.95 monthly fee.

This week, Ms. McGill, a local Austin woman, was surprised to be told she was dead!

Ms. McGill went to buy a travel trailer and applied for financing. The lender declined her application and informed her that she didn’t qualify for financing because she was dead (at least the credit agencies all had her listed as deceased).

Thanks to Scott Maitland at Pharmacy Marketing Quarterly for sending me this story – read David Scott’s Interview with McGill on the local news station KXAN in – Now here’s a life-affirming exercise.

“The financial manager came out and said do you have a copy of your (credit) card because you keep coming up deceased,” McGill recalled. “So I was like, ‘There’s no way.'”
[…]
“I even paid at that point to get my credit score,” she said. “You can’t get anything when you’re deceased. No credit scores, nothing, you don’t even exist.”

Turns out Chase Bank was spreading word of her demise — had been for months.
[…]
Before that, she tried getting Chase’s attention by not paying her car loan. Didn’t work.

“I stopped making my car payment for the first 25 days and they never called,” McGill said. “Before I had an issue where I was late for $5 and they called me four times a day.”

Then she called the loan department, and hit a brick wall.

McGill asked Chase to check its records. The bank wrote back that after further review, and once again assured her that she had passed on.

So McGill wrote back suggesting that her car note must have been written off.

“I would like Chase to produce the death certificate of my death so I can let myself know I am no longer living,” she said. “Cordially, the dead Helen McGill — hahaha.”

Finally, after a little more back-and-forth, Chase relented and accepted the fact the she was alive and well.

While this is a very funny story, it begs the question, what do you do when the credit agencies think you’re dead? Sheiresa Ngo from Black Enterprise suggests 3 tips for proving your identity in Managing Credit: How to Prove You’re Not Dead.

Being declared dead by the credit bureaus can have serious consequences. Among them are the inability to get a loan, employment, and the loss of your credit score. “No lender is going to want to do business with a person who has a deceased indicator on their credit report because of the possibility of fraud. Employment would also be difficult because it sends up a red flag when anyone sees it’s possible that the person they’re speaking with is not the same person because someone is telling you they’re dead,” says Ulzheimer. Furthermore, qualifying for a loan or credit would not be possible because credit scoring systems won’t score a credit file that says a customer is deceased.

Here are a few tips for proving your identity so that you can get your life back:

1. Contact the Social Security Administration. The Social Security Administration furnishes businesses and government agencies with a list called the Death Master File, which is a list of deceased people who were issued a Social Security Number during their lifetime. If you’re not listed in the Death Master File, and everything shows you’re still alive on their end, request a letter from the Social Security Administration, verifying that you are not deceased. Provide this letter to the credit bureaus so that it can be placed in your file. If you are incorrectly listed in the Death Master File, and the Social Security Administration lists you as deceased, you’ll have to contact your local Social Security office and provide proof that you are alive. You’ll receive a verification document of their current records, which you can use to prove to lenders that you are not dead.
2. Call and write all of the consumer reporting agencies. Cover all your bases. In addition to contacting the three major consumer reporting agencies (Equifax, Transunion, and Experian), contact the fourth agency, Innovis.
3. Monitor your credit reports. Order your credit reports and look for a deceased indicator next to your accounts, especially if you held an account with someone who recently died.

Live long and prosper!

If you have good credit and need a loan, then you’re in luck. Citibank offers a 0% interest loan for 21 months when you apply for the Citi Diamond Preferred credit card. Plus, there is no annual fee for this card – ever.

• Use the balance transfer option if you need to consolidate your credit cards or other loans. You have up to 4 months after getting the card to call Citibank and request balance transfers on the loans and cards you want to consolidate. There is one catch with a balance transfer – Citi will charge you a one-time 3% fee (with a $5 minimum) on the money you transfer. And they add this charge to your balance.
• The other option is to make new purchases on the card. With this option you are not charged any fees, and you get 0% interest for the first 21 months you have the card.

Once you’ve completed your balance transfers or made your new purchases, setup a payment schedule. To do this, divide the total amount you owe by 21 and pay off that much each month.

amount-you-owe / 21 = monthly-payment

Make sure to pay off your credit card within 21 months, or you will start getting charged interest on the remaining balance – currently 11.99%-20.99% depending on your credit worthiness.

So, as long as you have good credit and can pay off the loan in 21 months – this is a fantastic deal.

Enjoy getting out of debt or making that special purchase while saving money with this 0% interest card. Apply for the Citi Diamond Preferred credit card now.

• 0% interest for 21 months (on purchases and balance transfers)
• No annual fee
  

See Card Details and Apply for the Citi Diamond Preferred Credit Card (secure application)