True Earnings® Card from Costco and American Express
•
Earn cash back on gas and a $25 statement credit with your first purchase made with the Card.
•
Earn cash back virtually everywhere you go - 3% for annual gasoline purchases of up to $3,000 (1% thereafter), 3% for restaurants, 2% for travel, 1% everywhere else, including Costco.
Earn 10,000 Membership Rewards® bonus points when you spend $500 in 3 months - redeemable for a $100 gift card!
•
The Membership Rewards® program - Earn 1 Membership Rewards® point for virtually every dollar you spend and redeem for your choice of travel, shopping, and entertainment rewards.
•
Gold Card Events - exclusive access to tickets for select concerts, shows, major sporting events, and more in cities nationwide.
Starwood Preferred Guest® Credit Card from American Express
•
Earn up to 25,000 Starpoints® - enough for up to 6 free nights at a category 1 or 2 hotel.
•
Use Starpoints® for free nights and upgrades at participating Starwood hotels and resorts in 95 countries including Sheraton, W Hotels, Westin and more with no blackout dates.
•
No annual fee for the first year and $45 thereafter.
Platinum Delta SkyMiles® Credit Card from American Express
•
Earn 20,000 bonus SkyMiles® (including 5,000 Medallion Qualification Miles) after first purchase and another 2,500 for adding an Additional Cardmember.
•
Earn one companion Coach Class ticket each year upon renewal.
•
Earn at least 1 mile for every eligible dollar spent.
Many credit cards allow cash advances When you get a cash advance off your credit card, you either use your card to get cash from your bank teller or ATM machine, or you use one of the paper checks that came with your credit card. A cash advance can help you when you are short on cash and desperately need it, but it can also cost you much more than a regular charge on your credit card. There is usually an initial fee just for getting a cash advance and a higher interest rate on the cash amount borrowed. These fees add to your balance owed and can make your balance grow more each month than you anticipate. For these reasons, you should limit cash advances to emergency situations.
Pay by Phone
If you are in doubt whether your payment will arrive on time, you may call your credit card issuer and make a payment by phone. It may cost you anywhere from $5 to $30, but you will avoid paying a much more costly late fee. To make a payment by phone, all you need to provide is your bank?’s account and routing numbers, printed on the bottom of your check and a check number you wish to use. Remember, however, that you will not be able to use a check, whose number you had used for credit card payment.
How important is the Balance Computation Method for Finance Charges?
If your plan has no free period, or if you expect to pay for purchases over time, it is important to know how the card issuer will calculate your finance charge. This charge will vary depending upon the method the card issuer uses to figure your balance. The method used can make a difference, sometimes a big difference, in how much finance charge you will pay -- even when the APR is identical to that charged by another card issuer and the pattern of purchases and payments is the same.
Do I have a right to know whats in my report?
Yes, if you ask for it. The CRA must tell you everything in your report, including medical information, and in most cases, the sources of the information. The CRA also must give you a list of everyone who has requested your report within the past year?—two years for employment related requests.
I wanted to get a credit card but I do not have any credit history. Are there other ways to build a credit history?
To someone seeking credit for the first time, it may seem like a vicious circle: You cant get credit without a credit history, and you cant establish a credit history without credit! Frustrating, isnt it? Interestingly, some institutions only look only at your salary, job and the other financial information that you put on the application to determine if you qualify for their card. However most will be interested in your track record -- How have you handled other debts -- and will ask to see your credit report.
To get the story on you, institutions will turn to information provided by credit-reporting agencies or credit bureaus like Equifax that collect, store and quantify information about borrowers. The records show your credit history -- how much credit youve received and how faithfully youve repaid. Fortunately, even if youve never had a Mastercard, American Express, Visa, Discover, or other major credit card, you can still build a good credit history:
?• Open a checking account or savings account or both. Although not part of your credit history, your accounts may be checked by potential lenders as evidence that you have money and know how to manage it.
?• Cancelled checks can be used to show that you pay utilities or rent bills regularly, a sign of reliability.
?• Apply for a department store credit card. Stores dont ask for credit histories as often as major credit card institutions, so you should be able to get a card based on your annual salary. Then, repaying your store bills on time becomes a major ""positive"" in your credit history.
?• Look for a financial institution that will allow you to deposit funds to serve as collateral for a credit card. Some institutions issue a credit card with a credit limit equal to the amount on deposit. These cards are relatively easy to obtain and as with your department store card, paying these bills on time will enhance your credit history.
?• If you dont have a credit history because you?’re new in town, request a summary of any credit record kept by a credit bureau in your former town. Dont know whom to contact? Ask the bank or department store in your former town for the name of the agency it reports to.
You may already have a great credit history and not realize it. If you do, its time to ""comparison shop"" the credit card companies and find out who has the best deal to offer you.
Take a good look at your Pre-Approved Credit Card Offers
Chances are you have received offers in the mail asking if you would like to open credit card accounts. Frequently, these offers say that you have been "pre-approved" for the card, with a line of credit already set aside for your use. Typically, these offers urge you to accept quickly, "before the offer expires." However, before accepting a credit card offer, understand the cards credit terms and compare costs of similar cards to get the features and terms you want.
What is the difference between an additional card and co-signer card?
An additional card is a card you get on your personal credit account with another person?’s name on it. This means that the person now has access to your credit account as if it is their own account and can charge as much as they want without your permission beforehand. In addition, this person is not held accountable by your creditor for making any payment on the account. This responsibility falls on you, the account holder. As a result, no matter how much this person charges on your card, you have to pay for it?—even if the person promises to pay you back and doesn?’t. A cosigner card is a credit card someone applies for and gets a cosigner to sign on. Essentially, it is the applicant?’s credit account, but if they stop making payments, the cosigner is then responsible for the account. The history of the account goes on both person?’s credit reports. The cosigner will have to make special arrangements with the creditor before cosigning to get monthly statements on the account or reports of late payments. Otherwise, the cosigner will not have access to the account information. If you do cosign on an account, remember that you assume equal liability.
When should credit card payments be credited?
A card issuer must credit your account on the day the issuer receives your payment, unless the payment is not made according to the creditors requirements or the delay in crediting to your account does not result in a charge. To avoid delays that could result in finance charges, follow the card issuers instructions about where to send payments. Payments sent to other locations could delay getting credit for your payment for up to five days. If you lose your payment envelope, look on the billing statement for the address for payments or call the card issuer.
What is Consumers Liability for Unauthorized charges?
"If you have a problem with merchandise or services that you charged to a credit card, and you have made a good faith effort to work out the problem with the seller, you have the right to withhold from the card issuer payment for the merchandise or services. You can withhold payment up to the amount of credit outstanding for the purchase, plus any finance or related charges. If the card you used is a bank card, a travel and entertainment card, or another card not issued by the seller of the defective merchandise, you can withhold payment only if the purchase exceeded $50 and occurred in your home state or within 100 miles of your billing address. If these conditions do not apply to you, you may want to consider filing an action in small claims court -- an informal legal proceeding that can be used to settle disputes. While the maximum amounts that can be claimed or awarded differ from state to state, most small claims courts hear cases involving amounts ranging from $25 to $2,000. Some states have recently raised their limits to $5,000. Check Check your local telephone book under your municipal, county, or state government headings for small claims court listings. " * Shop around for credit card terms that are best for you. * Make sure you understand the terms of a credit card plan before you accept the card. Review the disclosures of terms and fees that must appear on credit-card offers you receive in the mail. * Pay bills promptly to keep finance charges as low as possible. * Keep copies of sales slips and promptly compare charges when your bills arrive. * Protect your credit cards and account numbers to prevent unauthorized use. Draw a line through blank spaces above the total when you sign receipts. Rip up or retain carbons. * Keep a list of your credit card numbers and the telephone numbers of each card issuer in a safe place in case your cards are lost or stolen.
Precautions for Overseas Trip
Before you go overseas, make a list of your credit cards and the international phone numbers to call in case they are lost or stolen. U.S. toll-free numbers cannot be reached directly from overseas, so make sure you have a number that can be reached from abroad. At the end of this brochure is a place for you to write down the phone numbers of your credit card issuers. Leave one copy of the list you make with a trusted friend or relative and keep the other copy with you, in a safe place separate from your cards. That way youll be able to quickly contact your credit card companies for replacement cards if you lose yours. If your cards have credit limits, check how much credit you have available and pay down balances or request higher credit limits if you need more.
