Current Visa Credit Card Offers

I just got this offer today from Visa for 10% off Choice Hotels  Why is this good?  Well, if you were going to stay at a Choice property, why pay full price? 

And, if you haven't signed up for Visa Offers, you should. Just for registering, you will get access to great discounts that you might not have been aware of.  And, at no cost!

Prevent Credit Card Fraud With Bill Guard

Friends and family know that I love my loyalty points, especially earned from using my credit cards.  It's like a game to me: charge as many purchase types I can, big or small, I will take them all.  Since using your credit card frequently, especially for on-line purchases, does make you more vulnerable to theft, fraud, or both, it is critical to check your credit card statements frequently.  I do this mainly because I pay off my credit card bills every few days, but also to make sure charges are legitimate, too.

Recently, I read in Money Magazine about a service called Bill Guard which takes a way a lot of the burden in monitoring your credit cards.  This short video below explains how the service works:


The tool is really easy to use.  As long as you have your credit card log in information handy, preferably in your head, it should only take a few minutes to set up.  In no time, Bill Guard will scan your credit card transactions and flag those that appear suspicious, or at least it hasn't seen before.  It's up to you to then indicate whether the credit card charge is legitimate, or if it is potentially fraudulent.

Signing up for Bill Guard is free for the first three cards.  If you'd like to register more, then you can either refer someone, or pay $79/year for up to 10 cards.  Most people will probably be covered with three cards, especially if they typically only use one card.

American Express Twitter Campaigns

AMEX is back with their sync and save promotions.  To get in on the action, you need to first have an American Express credit card, which you can find here and then you must also register it with a Twitter account.  Right now, they are offering a great promotion where you can get a $25 gift card for only $15.  Full details are in this video below:

Registration for these types of offers is actually pretty painless, and once you do, you will only have to do it once to receive savings on products that you'd buy anyway.

Changing your name with less hassle

The Problem

Dealing with name changes due to a major life event can be a bit of a headache.  For starters, there is the Social Security office, Department of Motor Vehicles, and IRS.   Since a lot of these changes must be done in person, the time involved is considerable.

Kiplinger's recently had an article about a few services that can help relieve some of the burden.  But, what you might not bargain for is the pain those other accounts in your life can be, such as banks and frequent flyer and loyalty programs.  Even worse than what you might imagine.  

The Experience

While one might think it is straightforward, airlines in particular, given the burden they have in maintaining passenger security, are stringent with identity changes.  The process typically involves writing a letter and enclosing proof of the name change, such as a marriage certificate copy.  But, that's not everything.  One needs to make sure that their new name matches exactly how they want their program information to appear.  Again, not as straightforward as one might think.

My wife had a huge headache with changing her last name and making it her middle one and adding my last name.  The computer thought it was a hyphenated name, but she only intended to have her new middle initial displayed. As a result, her boarding passes and account information were never in sync.  Because of that nuance, frequent flyer flight credit and other ticketing issues were an absolute nightmare to manage. To make matters worse, this airline was going through IT changes and therefore she had to re-submit the same information, spend hours on the phone, and follow up to make sure the change was processed correctly in both systems.  One can also run into trouble if their address has changed, too.  Not only is a marriage certificate necessary, but driver's license, or some other proof such as a utility bill, might be needed.

The Solution

First, order a bunch of certified marriage certificates.  You will likely need several. For garden variety government form changes, you may not need to pay for a service to help you out, but since it's only $30, it might save a bit of time.  For your loyalty programs, use a site such as Yodlee to track every account you have, print a list out, and systemically check off when you have changed your name on each.  If you have zero balances in any of them, and no elite status, you might be better just cancelling the account and starting over.  Ironically, one doesn't need to prove their identity with a driver's license or other identification until a change to the account is necessary. 

Fight rising gas prices now...

Gas prices seem to be climbing again, with the national average now at $3.85 ($3.50 a year ago), according to AAA.  Besides driving a more fuel efficient car, there are a few things you can do to save money at the pump, temporarily, and long term. 

First, consider a gas-oriented cash back card.  Here are a few examples from CreditCards.com, that will pay you back at every fill.  Second, for a limited time, but only at Exxon/Mobil stations, you can receive a $.15/gallon rebate on gas when you use their SpeedPass key fob, which is free.  If you don't know what this is, it's a small plastic device that fits on your key ring that is linked to your credit card.  Instead of pulling out your card to pay for gas and other purchases, just wave it across the tiger symbol when you see it

Here is an interesting double-dip idea: while the SpeedPass promotion is going on until May 31, you could receive both your regular cash back on your gas purchase at an Exxon/Mobil, plus the $.15/gallon rebate.  

Let's look at an example:

Buy 10 gallons of gas @ $3.85, normally, $38.50.  $.15/gallon rebate would be $1.50. off that, but you would also get 5% cash back on the $38.50.  $38.50 * .05 = $1.92, added to $1.50 means that you are getting back $3.42.  Subtract $3.42 from $38.50 and now your cost is $35.08, or $3.50/gallon.  Not bad!

Stay tuned for another promotion that I will be talking about in a future post where you can save even more money on gas.

Tax Time Tips

Income tax documents are probably already available to you to start completing your taxes.  One excellent source for tax records is your credit card statement--specifically the year end one.  I just got a notification from Chase that my 2011 year ends are available.

Here is why they are good to have:

1-Purchases are categorized, such as charity, travel, dining, and entertainment.  If you engaged in any of those activities on a volunteer/non-profit basis, and itemize your taxes, they are a good back up to your receipts.  Be sure to verify that the organization is in fact a registered non-profit.

2-In a pinch, you can reference these documents while filing your taxes.  Receipts are cumbersome and clutter your filing records.  Year end statements, saved to a computer, are much more efficient.

3-In an audit situation, handing an auditor a print out of neatly categorized purchases is much better for appearances than a stack of paper, odd-shaped receipts.  Think about it.

I am sure there are other good reasons to keep your year end statements for tax purposes and I would like to hear from you on them.  In general, they also help with tracking where you spent money and for what purpose.

In closing, a good strategy for filing taxes painlessly, and at little expense, is to use a service such as Tax Act Online.  I have been using it for years and there is a lot of basic functionality that is available for free that will help you on your way.  Helpful functions include instant calculation of the refund or taxes due, filing tips, simplified language describing complex tax topics.

Looking beyond "points," "miles," or "cash" when comparing credit cards

Shopping for a credit card can be really simple: you prefer frequent flyer miles over cash back, don't want to pay an annual fee, or have an enormous APR (if you carry a balance).  Easy.  But, complicating your comparison and decision-making process is the difference in additional, behind the scenes, benefits that come pretty standard as well, but vary.

Although they do not seem to be widely published beyond their website, read the inside guide to your credit card and see if it offers such benefits as roadside assistance, trip cancellation protection, identity theft protection, rental car benefits, concierge service, and others.  If it does not, consider switching to one that does.  The rental car coverage alone, typically in the form of CDW (Collision Damage Waiver) can save $10-20/day when renting a car, if you don't carry car insurance normally of course.  Suddenly, that annual fee is not so terrible after all.

It's surprising that credit card companies, at least in my brief research, don't publish these features up front.  Typically, a big bold ad in the newspaper, web, or bus stand advertisement touts earning (well, you don't earn necessarily, more like are refunded) cash back, points, or miles.  Not much is mentioned about being stuck in a jam and how the card can liberate you from some frustration associated with that situation.

Yesterday in my inbox, there was an offer for saving 50% off of Mastercard's shopping mall for a limited time of course.  If I hadn't opted in to see their promotional emails, or visited the website on a lark, I would be missing a great opportunity to save.  Why not promote these benefits more? 

To save you some research, I found a couple of links that will help narrow your field and make the decision easier, hopefully.  VISA's site conveniently lists each card's "other" benefits.  While you are it, check out their discount page if your card qualifies.  Here is Disover's, Mastercard's benefits page, and American Express' sites discussing their additional features and benefits, too.

Of course, one way to ensure that you have ultimate protection, convenience, and benefits is to obtain a card from each company and use them accordingly.  Not a bad strategy if you can maintain discipline and don't mind juggling bills a bit.

Not all credit card offers are alike

Efforts to lure customers in signing up for credit cards might be getting a little desperate. Here's one incentive from a Washington, DC-area car dealer to avoid. 

It was comical, and photo-worthy, to capture this credit card offer.  Being a car dealer, one would think that perhaps a free gas card would be an incentive, but amazingly, not. Sadly, what lures many into crushing credit card debt is worthless trinkets like these. It’s a very similar ploy to what has been happening to college students for years. Sign up for a card and get a free t-shirt. However, recently, the Obama administration began cracking down on some credit card companies' unscrupulous practices. Without getting into too much legislative detail, his new law purports to halt fees and other practices deemed unfair by some that have caught many Americans in a credit card debt trap.

Credit Card Benefits

If used wisely, credit cards are an awesome tool for consumers. First, by using them, consumers don’t have to carry around large amounts of cash to make purchases. Second, credit cards are safer than cash in that if they are stolen, consumer liability is in many cases zero. If one loses their wallet, that’s pretty much the end of that. Thirdly, credit cards offer rewards, such as cash back, frequent flyer miles, and points, akin to a discount, that take some of the bite away from spending.

Credit Card Debt

Unfortunately, the misuse of credit cards, meaning rampant spending without paying off the monthly bill, has gotten many into trouble. Unable to pay bills, some will be forced to file for bankruptcy, which hurts all consumers. If possible, paying cash will help stop shopping cravings. Just as it may feel uncomfortable to carry hundreds of dollars around in one’s wallet, it should feel the same to keep spending frivolously when one is paying crushing credit card interest. If one is in debt, consider asking the lender to lower the interest rate. Banks would rather have something than nothing, after all.

Comparing Credit Card Offers

To help consumers navigate the sometimes complicated world of credit card deals, incentives, fees, and benefits, there are many websites that track on-going offers. Credit Card.com is one such site. The site has a very clean interface that allows one to quickly select a card by a particular feature, provider, and credit eligibility. Don't get carried away, however. It's not necessary to carry several credit cards and two is all what most people need.

How To Take Advantage of Credit Card Savings Programs & Rewards

While there are several other websites and blogs that track various credit card deals, I am reminded myself, especially the other day in the mail, that credit cards can often come with discounts that people either don't know about or forget. Case in point, a signature Visa card saved my hundreds of dollars this past summer for two trips I took which involved staying at Hilton properties. Clear as day, Hilton's website mentioned special savings of up to 25% if one used a signature Visa. In this case, Hilton had a handy tool for checking if your card was eligible.

Consider also Discover and Mastercard savings. While performing your due diligence in shopping for items online (a future post which will go into detail) check the discovercard.com or mastercard.com websites to see what special promos they may have. The savings may surprise you. It could be x % off of a rental car, or discounted movie tickets, just for using your card that would have otherwise. However, don't use your card if you are going to carry a balance. It's not worth the interest. Regarding the offer in the mail, Bank of America has something called "Add it up," a program whereby consumers can receive up to 20% cash back and discounts from 270 retailers, the literature reads. A link to the program is here:

Other cards may have similar offers, too. Check your card's website, or call their customer service directly and ask.

How To Negotiate Credit Card Debt

Unfortunately, most Americans are highly in debt. The recent credit crisis has only showcased this problem. While not all debt is bad, such as student loans and mortgages, credit card debt will choke the life from your finances.

If you are in debt, make sure that have the lowest credit card rate possible. To do this, depending on how good your credit is, do a little research and see if you can get your rates lowered either with your card, or with another.

To find out if you are getting the best deal for yourself, visit websites like Bankrate.