Discovercard (www.discovercard.com) just launched a new $50 promotion on its Discover More Card that I thought was worth sharing. And it's pretty simple to cash in on the bonus--just spend $599 on the card, and Discovercard sends you $50. Having carried the Discover More Card for many years, the first thing I checked when I saw this offer was whether Discover was taking away other features of the card because of the $50 bonus. As you'll see from the list of benefits below, they aren't. If I didn't already have the card, I'd be applying today.

I don't know how long this $50 bonus offer we'll last. The Chase Freedom card use to have the exact same offer, but removed it about a month ago. I'm a bit surprised that Discover has come back with the offer, particularly after the Credit Card Act went into affect. But the offer is available now, and here are the details:

• 0% APR on Balance Transfers for a FULL 12 months
• 0% APR on Purchases for a FULL 6 months
• Get $50 Cashback Bonus after your first $599 in purchases
• 5% Cashback Bonus in categories that change like travel, gas, groceries, restaurants and more
• Up to 1% unlimited Cashback Bonus on all other purchases automatically
• Turn your Cashback Bonus into bigger rewards by redeeming for gift cards from over 100 brand-name Partners
• Instant Response within 60 seconds
• No Annual Fee

Apply Now!

While it does take some effort, moving your accounts from one bank to another is really not that difficult. There are a few traps to watch out for (see below), but the process is not as painful as we sometimes make it out to be. I'm in the process of changing my business bank accounts from Capital One to Citibank and thought it would be a good time to cover the steps you should take if you ever want to switch banks.

Step 1: Choose Your New Bank: You may already have a new bank in mind, but if not, it's time to do a little bit of homework. To find a new bank, you might start by asking friends and family members if they are happy with their bank. Current customers have the low-down on what a bank is really like. How long are the lines at lunchtime? How user-friendly is the online banking? How accessible are the ATMs? These are questions that only a current customer can answer. Call it a shortcut, but they've already done the legwork you're setting out to do.

You should also consider local banks and credit unions. Often these smaller financial institutions offer great service and competitive rates. And finally, it's worth consider some of the best online banks. Because they don't have the expense of maintaining branches, online banks typically offer the highest interest rates on savings accounts, high yield CDs, and even free checking accounts.

Step 2: Open the New Bank Account: The next critical step is to open your new bank account before closing your old one. It may seem like an obvious step, but sometimes in frustration with their current bank, people close an existing account out of anger. Resist this temptation. No matter how anxious you are to switch banks, open your new account first. This includes not only applying for the new account, but getting your debit card and checks. You want to have the new account fully in place and ready to go.

Step 3: Set Up Direct Deposit: If you use direct deposit for your paycheck or government benefits check, set up direct deposit to your new bank account. Setting up direct deposit is extremely easy, and your new bank can walk you through the steps. All you will need is the bank's routing number and your account number, both of which will appear on your new checks:

Step 4: Switch Automatic Payments: You may pay a number of bills automatically from your old bank account. For example, we have our mortgage, home equity line of credit payment, and several utility bills paid automatically from our checking account. You may also have automatic transfers from your checking account to some form of savings or brokerage account. If you use these automated features, you'll need to change them over to your new bank account. This is a critical step that can trip up folks. If you close your old account before making these changes, you may miss important payments. It's also critical to remember to keep enough money in your old account to cover these payments until you've made the switch.

Step 5: Close Your Old Account: Go to your old bank and close your account once all checks and other withdrawals have cleared and you are certain that your automatic payments are successfully being withdrawn from the new account. With this step, it's critical to make sure all payments have cleared your old account, otherwise you could end up bouncing a check.

Some banks, like online bank Everbank, offers a brochure to help walk you through the bank switch process (download the pdf here).

At the end of the day, it can really pay to switch banks. In fact, as the banking industry gets back on its feet, you might find the incentives to do so downright irresistible.

I have a question relating to annual credit card fees. One of my credit cards that i got about 7 years ago with HSBC has an annual fee of $37.00. I have developed positive credit history with it and it has a $1,400.00 limit and no rewards. I have since managed to get other credit cards with no annual fees and higher limits. My dilemma is whether i should close it down and take a hit on my credit score or keep it and continue to be charged the annual fee.

I confess that this question stumped me for a while. But a recent article by George Mannes, a senior editor at Money Magazine, helped answer this reader's question. The short answer is that canceling the card may lower your credit score a bit, but in most cases won't have a big impact. Of course, the devil is in the details, so let's dig a little deeper.

Your FICO credit score is composed of five factors: (1) your payment history, (2) amounts you owe, (3) length of credit history, (4) new credit, and (5) types of credit you’ve used. The three factors at issue here are your payment history, which makes up 35 percent of your score; length of credit history, which makes up 15 percent of your score; and amounts you owe, which accounts for 30 percent of your credit score.

FICO Credit Score Breakdown

How does closing your credit card affect these factors? Probably less than you think. The big negative impact on your score results from the percentage of available credit you lose by closing the account. If the card represented a significant percentage of your available credit, closing the account will hurt this aspect of your credit score.

But on the positive side, your good history with the credit card with not disappear, at least not right away. Most information, both good and bad, remains on your credit report for at least seven years. In fact, according to the article referenced above, the good stuff in your report stays put for 10 years. The bad stuff falls off the radar after seven years. Chances are that by that point it won’t matter much anyway if you’ve already started building a strong credit history and FICO score.

Before closing the account, however, there are some practical considerations to review. First, it's worth a few minutes of your time to contact your credit card company to see if you are able to either have the annual fee waived or have your card converted to a no fee credit card offer. For example, when I found out that American Express launched the Premier Gold card with rewards much better than the Preferred Gold Card I'd been carrying, I called up Amex and asked to switch. They accommodated my request without any fuss. If you can get the annual fee waived, your available credit won't drop as it would if you closed the account.

Second, if you decide to close the account, consider the timing. If you plan to purchase or refinance a home soon, for example, you may want to wait until that transaction closes before closing the credit card account.

Third, it's worth considering how the loss of the available credit will affect the percentage of your available credit. For example, if you don’t carry balances on your credit cards, whether you have $12,000 in available credit with the card or say $10,000 without it, you’re still not using any of your available credit. However, if you carry a large balance, the loss of $2,000 of available credit could have a more significant effect on your credit report.

I would start the day knowing that I was getting out of school early, which is always a day to look forward to.  Once I finally made it to the dentist, there was always that enjoyable 30 minute waiting period where I could read my favorite "Highlights" magazine and find all of the missing objects on the back page.  When my turn came up, I was in and out in 15 minutes. While a cleaning and a couple of x-rays tingled, it was well worth the price of an enjoyable day.

Somewhere along the line, my adoration for molars, incisors, bicuspids and canines faded away. Now being older and a wee-bit wiser, I have grown to be like most Americans in hating the dentist.  Check-ups take valuable work time out of my day. And after leaving my office job, I no longer have a dental plan, which is where I'm going with this article in case you were wondering.

This is the first time in my life since I've had big boy teeth that I haven't carried dental insurance.  It's also the first time I've done research on the subject, and shopping for a dental plan has proven to be quite the task.  No matter how hard I tried, I could not find an all inclusive dental plan. Meaning that whenever I needed a procedure, there were going to be out of pocket expenses.

Different types of plans provide different types of coverages, so the first step would be to better understand the types of plans available.  As far as discount dental insurance is concerned, there are three major plan types:

1. Dental Health Maintenance Organization (DHMO) : A DHMO provides coverage to individuals who choose dentists that are part of the DHMO plan.  These plans are generally the cheapest, but restrict the dentists you can visit.
2. Preferred Provider Organization (PPO): A PPO is a little less strictive in that it allows you to choose your favorite dentist.  The plan details are usually the same as a DHMO, and you should check with your dentist to confirm that they will abide by your PPO plan.
3. Indemnity Plan: An indemnity plan is the most straightforward of all dental plans in that you pay a higher than average premium. In return, you receive a standard discount on all dental procedures.  A typical indemnity dental plan would cost $20 a month and cover 70% of all dental costs, no matter the procedure.

The next step in my journey took me to DentalPlans.com, where I was able to compare a large number of dental insurance quotes for free.  An example of the comparison page is below:

The premiums for all of the plans you see on this page are relatively inexpensive and range between $8 and $15 a month.  You'll notice a tab selector at the top of the page which allows you to not only compare routine work, but also things like crowns, root canals and extractions.  Unlike medical plans, dental plans do not carry things like deductible amounts or co-insurance, so the figures you see above are fairly straight forward.  Most plans cover between 30% and 70% of all dental procedures, so you might be thinking that if you have to have a few procedures done, picking up a plan can save you thousands in just a few weeks.  Think again my friend.

Every single discount plan I could find, including ones that are paid for by employers, allow for only $1,000-$2,000 worth of annual coverage.  This means that when you have used up $1,000-$2,000 worth of dental discounts, you are now paying full price for any other procedures or visits made within a calendar year.  I tried to find a more expensive, all inclusive dental plan but came up empty.  It got me wondering if having only $1,000 worth of coverage is worth the cost of carrying a dental plan.

Even though there is a limit to the amount of coverage I can obtain each year, spending just over $100 a year for $1,000 a year is the right investment.  Right now, I certainly don't need anything more than two yearly checkups, but I don't want to be caught with an extreme tooth-ache without having that insurance to fall back on.  Even if you don't think you need dental insurance, the benefits exponentially outweigh the costs, so don't go another minute without making your whites pearly.

Yes, there is some guesswork involved. But armed with the right information, you can set the right deductible that protects you against big losses for a reasonable insurance premium. All to often, people chose a deductible because of the result it has on their monthly premiums: the higher the deductible, the lower the premium. While cost is certainly an important consideration, here's some additional information to consider before making your decision.

The Basics of Insurance Deductibles

Generally speaking, you're in control of how much auto insurance you carry. Some minimum amounts of liability are, however, mandated by state law. And if you have borrowed money to purchase your vehicle through a bank or credit union, the lien holder will require that you carry this coverage.

Another basic precept is that auto insurance is a tool to protect you. And everyone has different ideas of how much protection he or she needs — or, risk tolerance. Those who are risk averse are likely to carry a lower deductible. Those with less aversion to risk will typically have higher deductibles. The amount you pay your insurer each month directly correlates to how much risk you are asking them to take on, and how much you are willing to take on yourself.

The more you have to lose, the more protection you'll need. That's the operating statement.

Which Types of Auto Coverage Offer Deductibles?

There are many types of auto coverage listed on your insurance policy. The most common type of coverage with a deductible is comprehensive and collision, or physical damage. This is coverage for your vehicle itself, and it pays for damage no matter who is at fault.

Then, there is Personal Injury Protection or PIP — also called "no fault" insurance, and it is only required in certain states: Florida, Hawaii, Kansas, Kentucky, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Dakota, Pennsylvania, Utah, or D.C. In an accident, under no fault laws, your auto insurance company will pay for your damages (up to your policy limits), regardless of who was at fault. Other drivers involved will be covered by their auto insurance policies. If you need no fault insurance, you don't necessarily have to choose a deductible.

It's best to consult with your insurance agent if you live in one of these states, as selecting no fault coverage can get tricky. For example, you may want to take a deductible if you have health coverage elsewhere since you can only make one claim on any one injury. In addition, some health insurance policies exclude automobile accident, so it may be wise to check with your health care provider to make sure you are covered if you decide to go with a deductible.

The Right Deductible for You

Choosing your deductibles starts with a few questions you might ask yourself:

• What are the odds that I’ll be in an accident?
• If I am, what are the damages likely to cost?
• How much savings do I have that could be used to pay for damages?
• How much do I need to save in insurance premiums to make taking on this risk worth it?

In short, if you have the money stashed away to pay the deductible in the event of an accident, you might consider going with a higher deductible amount and, therefore, a lower monthly premium.

If you're not quite comfortable raising your deductibles, but you love the idea of lowering your monthly premium by as much as 40%, here are some suggestions about other ways to save.

Shop Till It Drops

Be sure to go over your coverage with your insurance agent at least twice a year and compare your rates with at least three others. You can also check with your state insurance department who may be able to provide you with a comparison chart for all the major insurers. It's time well spent, as the competition in this category is fierce and dialing for dollars usually yields tangible savings. And one of the easiest ways to compare insurance costs is with insurance.com. It takes just a few minutes and you get quotes from several well known insurance companies instantly.

Once you've found great rates, be sure the insurer is financially stable. Here are two rating companies that can give you the heartbeat of just about any business: A.M. Best and Standard & Poor’s. Consumer magazines can also be tremendously helpful.

Your sate insurance department, as well as friends and family, can also steer you away from companies with too many dissatisfied customers.

Consider Trimming Elsewhere

• Buying a new car? Check insurance costs before the purchase. Premiums are based on, among other things, sticker price, repair costs, safety record, and theft statistics.
• Bear in mind that cars with anti-theft devices and safety features (i.e. daytime running lights) equal noteworthy discounts. The Insurance Institute for Highway Safety is a good resource for how each make and model ranks.
• For older cars, consider dropping collision and/or comprehensive coverage. If your car is worth less than 10 times the premium, it may not be worth this cost. Kelley's Blue Book is the industry standard for evaluating your vehicle.
• Bundle your auto and homeowners insurance with the same provider and get a "bulk" discount.
• Maintain a good credit score. Most insurance companies look at your credit rating when determining your premiums. A bad credit score will mean higher premiums.
• Drive less. If you drive your car less than 10,000 miles per year, you might be able to qualify for a low-mileage discount with your auto insurer. Ask your agent.
• Play your membership cards. Some insurers offer discounts for people who belong to certain organizations or professions.
• Pay all at once. Installment payments are a nice convenience, but they also usually cost more than paying in one lump sum. If your insurer allows you to save by paying up front, take them up on the offer if you can.
• Don't let it lapse. Auto and car insurance companies do not like to see lapses in coverage, and they will raise your premiums and possibly disqualify you from discounts if you have any.

Now a days, it's rare to find a deal in person because everything is done online.  No longer can a good buy be snuffed out by traveling place to place because the entire retail industry is at our fingertips.  If I'm not happy with what I find at BestBuy.com or Macys.com, I can visit the all-powerful eBay to find a lower price.  Millions of auctions are completed every week and I have to admit I've used eBay enough to have generated a feedback rating in the high hundreds.  With no apparent competitors in the online auction space, eBay continued to be the one stop shop for every kind of purchase imaginable.  That was of course until Swoopo had something to say.

In 2005, Swoopo revolutionized the online auction space, launching a penny auction site based in Europe.  For those unfamiliar with penny auctions, it's a fairly simple set-up.  An auction will start for a high priced item at $0.00.  Each bid placed by a user will raise the auction price one cent.  When the time limit on the auction runs out, the user with the most recent bid wins.  Each bid placed costs the user a certain flat fee, usually between $0.50 and $1.00.  Its sounds so simple right ... why not just wait until the very end and place the last bid, like eBay.  I mean, you could walk away with thousands of dollars in electronics and merchandise for a few dollars!

If only it were that easy.  Swoopo has designed a flawless and I mean flawless business plan that ensures they are not only profiting from these auctions but flat out raking the money in.  What better way to explain how this whole process works than by giving you an example.

To write this review, I've gone to Swoopo.com where I immediately see 10 auctions that are close to ending.  Each auction currently shows a very low price compared to a very high valued item, and I've chosen to use the Nikon D-90 camera (seen below) as the test subject.

Now you'll notice from the graphic above that there is only five seconds left in the auction. But "time left" in a penny auction is simply an illusion.  You see, with every bid placed, the time remaining increases by 5-20 seconds.  If the bids never stop coming in, the auction does not end. (The auction above will end no matter what on March 30th, 2010).  The strategy of waiting until the end of the auction to bid is of no consequence because no matter how much you want to avoid it, your bid extends the auction.

You'll also notice from the graphic above that I have drawn four blue boxes and arrows on four key areas that Swoopo wants you to focus on.

1. At the top of the graphic, you will see that 150 free bids also comes with this auction win.  Swoopo recently added bids to the merchandise you win to entice users to bid more.  Once a user places a bid, it is lost forever regardless of whether or not the auction is won, so they are adding a nice "bonus" prize.
2. To the right of the graphic in the big box, Swoopo happily lists where the last 9 bids came from and how many total bidders have placed bids within the last 15 minutes.  The value of this information is minimal at best because a Swoopo auction is usually won because your competition forgets to bid or runs out of bids.  Knowing who you're bidding against seems like it could be valuable, but it's not.
3. Just below the camera is an enticing snippet of information stating that this very same camera just sold in an auction for $24.06.  The auction price that the camera is currently at would suggest this auction will end very soon, wouldn't it?
4. The last box I've drawn shows the manufacturers suggested retail price and subtracts the current auction price so you can see just how much money you have the opportunity to save by using Swoopo.  The $1,299.00 MSRP is always going to be higher than what you could actually find the camera for in retail outlets, so this number is a little overstated, but close enough to where Swoopo wants you to be blown away by the savings.

Now that you know how a Swoopo Auction works, there's one more piece of information you will need in order to try these guys out.  A BidButler is an automated bidding system that can be used by anyone bidding on an auction.  This technique will allow you to mark off a certain price to bid between, so you cannot forget to place a bid before time expires.  For example, I could place a BidButler between $24.50 and $25.50 in the above example and at a random time between 1 and 15 seconds left, Swoopo would automatically place a bid for me.  Potentially placing every other bid, I could spend 50 bids per dollar the auction increases, which is quite expensive as I detail below.

The cost of playing the penny auction game is a steep one.  Every bid costs $0.60 and unless there is a promotion being run, there is no discount for bulk buying.  This means that in the case of the Nikon camera above, 2423 bids have already been placed by Swoopo users, which is the equivalent of $1,453.80.  No matter what happens, Swoopo has already profited from this auction. What's left to decide is by just how much.

I started writing this article at 6:00 pm ET, which is when I grabbed the screenshot you see above.  I fully expected the auction to end within an hour, but to my surprise, it's now 8:58 pm ET and the auction has just now ended.  The final price was a whopping $65.53 which means over 6,500 bids were placed.  At $0.60 a bid, $3,931.80 was spent in bidding and added to the final price of the auction, Swoopo just sold a Nikon D90 camera for $3,997,33.  WOW.

To be fair, the Swoopo of old was just a money hungry machine and adjustments have been made to give customers better value for their money.  Bid prices have decreased, the option to buy the merchandise after losing an auction by using your bids placed as a discount has been implemented, and promotions offering discounted bids are more commonplace. But even with the improvements, very few walk out of Swoopo a winner.  Even those "upgrades" can be construed as tactical as reducing bid sizes gets people to bid more and basing a purchase off of the MSRP still nets a profit for Swoopo.  There's no doubt that Swoopo is extremely alluring, but while you might be enticed to consider giving it a try, "War Games" and I would tell you the only smart move is not to play.

This is a good news, bad news, and then maybe some more good news kind of story. You've no doubt heard of COBRA (Consolidated Omnibus Budget Reconciliation Act), which according to the Department of Labor "gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain circumstances such as voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events."

The downside to COBRA is that it's expensive. If you qualify for COBRA, you have to pay the entire premium out of your own pocket, even up to 102 percent of the cost to the plan. And that brings us to the federal COBRA subsidy.

If you were laid off involuntarily after February 19, 2009 — the day The American Recovery and Investment Act of 2009 was signed into law, you've been eligible for a 65% subsidy on your COBRA insurance. In other words, you'd only have to pay about 35% of the cost of the plan. But that good deed came to an end effective March 1, 2010.

As it stands now, anyone laid off on March 1, 2010 or later will not only be ineligible for the subsidy, but may get hit with higher COBRA premiums. Congress once before extended the COBRA subsidy and is considering another extension of the eligibility period. But no bill has yet been passed or signed into law.

The numbers look like this: American families who do not qualify for the subsidy will spend an average of $13,332 annually for COBRA premiums, compared to $4,668 annually if the subsidy remains. Should the subsidy disappear, many of those laid off after February 28, 2010 may find COBRA unaffordable and join the 46 million uninsured in this country.

So if you are laid off after February 28, 2010, what are you options? Here are some top-of-mind questions to help with the details, as well as the alternatives to COBRA:

Question: When will we know if the eligibility period has been extended?
Answer: Hard to say. An extension of the COBRA subsidy was included in President Obama's proposed budget for fiscal 2011, and Congress is said to be considering legislation to make it happen. But no one should bank on the extension passing and risk being caught without options. It's important to explore what else is out there. This can take time — to research, and to receive approval. So it's best to start doing the homework now.

Question: I stopped working in February, but was not technically "laid off" until after February 28, 2010. Do I qualify for the COBRA subsidy?
Answer: It commonly occurs that the last day of work and your termination date don't coincide. For example, you might stop working in February, but are being paid for vacation time that keeps you on the books into March. In that case, you may not qualify for the subsidy. Talk to your HR folks to establish your exact termination date. You want it to fall prior to February 28, 2010.

Question: If the subsidy is not extended, what options do I have?
Answer: With any luck, you're eligible for health insurance through a spouse’s group plan. If not, consider your own individual or family health insurance plan. Depending on the state you live in, you may find private coverage at a monthly premium less expensive than even subsidized COBRA. According to the Kaiser Family Foundation, the average cost of a subsidized COBRA policy would be $398 per month for a family and $144 for an individual. Compare that to a 2009 survey of 316,000 eHealthInsurance customers showing that half of all family health insurance policyholders paid less than $329 per month and half of all individual health insurance policyholders paid less than $132 in monthly premiums.

If you expect to be back on an employer-sponsored health plan again within six months and want interim coverage (in case of the unexpected), you might also consider short-term health insurance.

Question: What if I have a pre-existing medical condition or can’t afford my own plan?
Answer: It's possible, in most states, to be declined for private coverage due to pre-existing conditions, whereas you can't be turned down for COBRA based on medical history. Therefore, if you have a pre-existing medical conditions and can afford COBRA, enroll! If only one of your family members has a pre-existing medical condition, you may wish to consider enrolling that person in COBRA while covering others through individual or family plans.

If you cannot afford COBRA or private health insurance, reach out to the Foundation for Health Coverage Education to learn about the government-sponsored options in your area: www.coverageforall.org or 800-234-1317.

Question: Should I apply for a private plan while waiting to see if the subsidy will be extended?
Answer: Since individual and family health insurance plans are paid month-to-month, they can be canceled at any time. Many, however, could come with an application fee of as much as $30. (Sites like eHealthInsurance.com help you identify which plans require such fees.) So if you are approved for a privately-purchased plan and then learn that the COBRA subsidy eligibility period is extended, you may drop your individual or family plan in favor of COBRA as long as you are within your COBRA enrollment period (usually 60 days from termination of employment).

This is a good time to mention that COBRA coverage is not designed as a permanent health insurance solution. Currently, the COBRA subsidy only provides 15 months of assistance, and your overall eligibility for COBRA expires three months after that. That said, you may find that an individual or family health insurance plan provides a more permanent form of coverage at a similar price.

These days, you can find just over 30 brick and mortar branches for FNBO in Nebraska, Texas and Iowa. But through its online channel, First National Bank of Omaha is available to all US customers.  The interest rates table you see on the right is current as of 02/27/2010 and represents a reality amongst current interest rates.  FNBO is consistently among the very best in savings and CD interest rates and given the state of the economy, the very best is no where near what it use to be.  Less than three years ago, FNBO was offering a mind-blowing 6.00% APY for their online savings accounts, which confirmed then and now that the bank is committed to giving the very best interest rates the market will support.

Opening an FNBO account online is a quick and painless process that takes a little less than 5 minutes.  The first step is to visit the First National Bank of Omaha website and click to start a new application.

To open an account, FNBO uses a five step process to complete a new account opening.

1. Enter your personal information
2. Confirm your identity (four or five security questions)
3. Complete your signature card
4. Customize your account
5. Fund your account

Step 1: Enter Your Personal Information

Every question you'll find in this section is one that you've answered a thousand times before.  FNBO only asks for the basics, needing the usual name, contact info, social security number and drivers license info.  Spread across two pages, if you're a quick typist and good at remembering your personal details, you can finish the step in 60 seconds flat.  On to verifying you are who you say you are.

Step 2: Confirm Your Identity

A little bit more tricky than the first, you are now asked to complete four or five security questions that will confirm the personal information you entered on the previous step.  If you cannot answer all of the questions correctly, not to worry, you are given a second set that can clear things up.  If you don't score perfectly the second time around you won't be able to continue the account opening process.  After successfully entering the right information, I've hit a deadly snag!

My application has been declined!  How can a bank decline an online savings account application you ask?  Frequent readers of this site know that my credit is in the tank and while my FICO score does not automatically decline me for this application, something on my credit report has.  I called in to an FNBO representative and after one simple selection on my telephone keypad, I had a live operator.  He informed me the reason my account could not be opened was because I closed a bank account six years ago with a negative balance.  In my defense, the negative balance was $35.00, but nevertheless, having savings accounts closed because of money owed can cause future accounts not to be accepted.  Good to know.

Forgetting the issues I have, let's continue the online account opening process assuming you make it past the validity test without any problems.

Step 3: Complete Your Signature Card

The easiest of all steps you are asked only one questions, which is whether or not you are subject to back-up withholding.  The FNBO system defaults their system to "no" and as long as your name and personal details below the question are accurate, you can work your way to step 4.

Step 4: Customize Your Account

Customizing your account is more about telling FNBO what they can expect out of you, as the questions revolve around how and how much money you plan to transfer to your new savings account.  20 seconds later, you are on to the last step in creating your new account.

Step 5: Fund Your Account

First National Bank of Omaha conveniently allows for two account funding methods, the second of which is shown above.  Users can mail in a personal check and expect to have the funds credited within 7 to 10 business days.  If mailing a personal check isn't your thing, you can transfer the funds electronically from an existing bank account.  The online transfer method has become the method of choice for most consumers and if it's important for you to get your money in quicker, transfer it bank to bank.

Once you have completed the last step, you are sent to a page where the details of your account are available for printing and you're done. The only thing left for you to do is to go back to the homepage and register your new account so you have login credentials.  Congratulations ... you now have an online savings account with one of the best banks in the US today.

So is FNBO Direct the right bank for you?  Well when you look at what the bank has going for itself; high interest rate, accessible and helpful customer service (even for non-clients), an easy to open account process and a name brand that goes back 150 years, FNBO Direct is an excellent place to start or continue your savings career.

Citi CashReturns MasterCard

• Amex Premier Rewards (official site): I recently converted by Amex Preferred Rewards card to the Premier Rewards card because the rewards are better. But I'll probably change that card to the Amex Starwood Preferred Guest card. I'll give the details of that decision in another post, but for my money, you won't find a better travel reward card anywhere than the Amex Starwood card.
• Citi Platinum Select MC (official site): This is the focus of today's review. The Citi Platinum Select offers the best balance transfer option available today, with a 0% balance transfer offer up to 12 months. And you can get the card with good credit (many bt offers require excellent credit). And I've carried this card for longer than I care to remember. But I'm considering changing to the Citi CashReturns MasterCard for several reasons outlined below.

Citi CashReturns Cash Back Rewards

Unlike the Citi Platinum Select MasterCard, CashReturns as the name suggests offers cash back on purchases. While some cash back cards have complicated rules (even the Discover More card can be a bit confusing), the Citi CashReturns is quite simple--earn 1% cash back on all purchases and cash advances. On top of that, Citi offers a 20% bonus on cash back earned on purchases for the first 12 months. And you earn on average an additional 5% cash back when you shop at Citi Bonus Cash Center.

The CashReturns card also offers 5 CitiDollars for each balance transfer transaction of $1,500 or more. This translates into $5 cash back, which isn't a lot. But it's the only card I've seen that offers some cash back on a balance transfer.

All cash back rewards are automatically paid by check once you accumulate $50 in rewards.

Citi CashReturns Balance Transfer Offer

The card offers a 0% balance transfer for up to 12 months. The balance transfer requires payment of a 3% balance transfer fee, which is always important to consider whenever you are thinking about transferring a balance to a new card. Based on my research, the 12-month, 3% fee offer is the best you'll find today.

Final Thoughts

Because the CashReturns offers both a balance transfer and cash back, one question is why would anybody choose the Citi Platinum Select. There are actually a couple of reasons. First, the CashReturns requires better credit to qualify. Citi, like all card companies, won't disclose exactly how they evaluate applications, but everything I've read indicates that the Cash Returns card requires excellent credit, while the Platinum Select requires good credit.

Second, if you're looking for a balance transfer offer, the Citi Platinum Select offers the same terms.

Finally, if you already have a cash back card, you may not want or need another one. In my case, while the Discover Card is great for 5% cash back in rotating categories throughout the year, all other purchases don't earn 1% cash back until you've spent $3,000 each year. Why wait? CashReturns pays 1% from the start. The Chase Freedom(SM) is another alternative that offers 1% on every dollar spent, and up to 3% on rotating categories.

If you've used the Citi CashReturns card before, I'd love to hear what you think as I haven't made a final decision, yet.

If you're in the market for a new car or truck, you might be considering the option to lease and the option to buy.  Unless you have enough cash available to purchase a new automobile outright, there are advantages and disadvantages to both choices and after you've considered your financial position, your decision should be easier than you think.

When searching for a new vehicle, you first should do your due diligence in looking for a deal online.  eBay offers an excellent opportunity to buy new and used cars at a good price, and there are literally thousands of sites that can help you put a retail price on the automobile you are looking for.  If you've drawn a blank, then it's time to visit a dealership.

Whether you're anti-lease or anti-buy, it's important to know the pros and cons of both sides to better understand the effect of your decision.  Is leasing a car cheaper in the short term, but more expensive in the long term?  Does financing a new car affect your credit score negatively?  Both very valid questions that I hope to explain below.

Leasing is still a very popular method of obtaining a new car or truck for consumers, and you might notice just as many commercials devoted to leasing as there are for buying new automobiles.  Why would you lease a new car instead of buying it?

Leasing Advantages

• Lower Monthly Payments - When you lease an automobile, you usually do so for a specific period of time.  An average lease is for 36 months, and you can generally expect to pay 60% of the purchase price within this time frame, all things considered.  This means that your monthly leasing payments are considerably less than if you decided to buy, which frees up money for other areas of your budget
• Lower Down Payment - If you don't have a lot of cash on hand, then buying a new can be quite the challenge if you don't have excellent credit.  A sizable down payment is generally required, and sales tax can send you over the top.  As far as leasing is concerned, you can get away with a small down payment and you'll only pay sales tax on the portion of the car that you pay for (again, around 60%).
• Maintenance is a Breeze - Most manufacture's warranties cover the lease terms of your automobile, so any problems with your car can be fixed at the dealership without any headaches.  If you choose to buy, you will be given the same warranty but it won't last forever.  Finding a trustworthy mechanic can be quite the challenge and future car repairs could cost thousands.
• You Drive in Style - Leasing a car every three years means you are always driving what's new.  Never having to ride in a clunker keeps you in the cool crowd.
• Negotiating a Lease is Easier - If you understand certain industry terms like Money Factor, Capitalized Cost and Residual Value, negotiating your lease can save you hundreds if not thousands.  When buying a new car, it can be difficult to negotiate a lower price because you're cutting into a dealer's commissions.  Ouch

Even though there are good reasons to lease a car, you can bet I've got some good ones for buying, too.

Buying Advantages

• Owning an Asset - Monthly payments you make are going toward the purchase of an asset, not simply the rental of one, so once you have completed the terms of your financing agreement, the car or truck is yours to keep.
• You Can Customize - When buying, you are free to change anything you don't like about your car without repercussion.
• 36,000 Miles and Counting - One of the biggest fees that leasers get hit with when returning their car is going over their allotted mileage.  A general lease allows for 12,000 miles a year, but if you are a smart leaser, that too can be negotiated.  If you buy your new automobile, you can drive it until the tires fall off.
• Car Insurance - If you are in an accident, your car insurance provider will pay the owner of the vehicle, which is your leasing company.  Often times in leases, a cars value is more to the leasing company than the insurer will pay for, and the leaser of the vehicle is on the hook.  GAP coverage is necessary when leasing to avoid this problem, but when buying a car, this is unnecessary.
• Fixing Only What You Want To Fix - Every little ding and scratch can cost you when leasing a car, but when you buy, it's up to you whether or not you want to keep the car in that condition.  Anyone who turns their car in after leasing in "non-perfect" condition is risking a financial misstep.

Suze Orman, one of the most well known names in personal finance says that the worst decision she ever made, financially speaking, was to lease a 1987 BMW to impress her "love interest".  Leasing certainly isn't for everyone, but it might be the right decision if you simply can't afford the high monthly payments that financing has to offer.  You may also want to consider finding a car with a cheaper monthly payment.