Thursday, July 29
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Credit Cards

Alliant Reduces Points Value of Platinum Rewards Points (From 1¢ To 0.66¢)

Credit Cards
Alliant offers the Platinum Rewards Card, this offers 2x points per $1 spent. Previously points were worth 1¢ each but unfortunately that is no longer the case and points are now worth 0.66¢. This means it has gone from a card that effectively earned 2% cash back on all purchases to 1.32% back. We will remove it from the best credit cards for everyday spend. Hat tip to Mike & Dave CSource: doctorofcredit.com

What Is Cash Back?

Cash Back, Credit Cards, Home Loans
Cash back is a rewards benefit that many credit cards offer to cardholders. By taking advantage of it, you’ll receive back a prespecified percentage of certain purchases you make. Many credit card companies will provide higher cash back rates on certain types of purchases, such as airfare, gas, food and more. Cash back is just one way that credit cards offer rewards, as mileage and points are some alternatives. Before you spend too much money with your credit cards, make sure you have a financial plan in place. Speak with a financial advisor today. What Is Cash Back? The most commonly recognized style of cash back is what you have likely seen advertised as cash back credit cards. This specifically refers to earning a certain percentage of your credit card purchases back as cash re...

How to Start Building Credit Once You Turn 18

Building Credit, Credit Cards, Debt, Hard Money Loans
Good credit is crucial to unlocking many financial opportunities in life. When you have a great credit score, you can get lower interest rates on car loans, credit cards and mortgages. Some employers and landlords even check credit reports before they make a job offer or approve a resident application. While developing a solid credit history takes time, follow some of these tips on how to establish credit once you turn 18 to get started as soon as possible. 1. Understand the Basics of Credit Make sure you understand the basics of how credit works. Your credit reports are maintained by three major credit bureaus—Experian, TransUnion and Equifax. It contains data on your current and past debts, payment history, residential history and other facts. This data is supplied by lenders, credi...

Elan Max Cash Preferred – 5% On Two Categories

Credit Cards
There is a new credit card being offered by a number of credit unions called ‘Elan Max Cash Preferred’. This card is basically identical to the U.S. Bank Cash+ card, although the sign up bonus is usually $150 instead of the common $200 offer on the Cash+ card. Card basics: No annual fee You can choose two categories to earn 5% in (limit $2,000 in spend per quarter), one category to earn 2% in one and 1% on all other purchases The advantage to the Elan card is that it seems to be easier to approved than the Cash+ card. It’s available from the following credit unions (via MyFICO): Abby Bank (Wisconsin) Air Force Academy Federal Credit Union (Colorado, veterans) Allegiance Credit Union (Oklahoma) Alliance Credit Union (Missouri) All South Federal Credit Union (South Caro...

Why You Should Not Buy a Credit Privacy Number (CPN)

Credit Cards, Credit Repair, Home Loans
If you’re looking to repair your credit, you may have come across websites that advertise a credit privacy number, credit protection number or CPN. These numbers are nine digits like a Social Security number (SSN), and sellers claim that you can use them instead of your SSN. However, these CPNs are often actual SSNs lifted from real people, reportedly children, prison inmates and the deceased – and you can never legally buy a new SSN. In other words, a CPN is no solution to your credit rating problem. Under no circumstances should you try to buy a CPN. Why a CPN is No Credit Fix Websites have sprung up all over the internet, offering CPNs to people with bad credit or low credit scores. They advertise that this number can serve as a “get out of jail free” card for your bad credit. ...