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April 2020

Business Rewards Cards

Business Rewards Cards

Business Rewards Cards

Business Rewards Cards – Business credit cards can be a great tool for any business. Large or small to assist in the money management process. Some of the first things that most consumers take into consideration when deciding between credit card accounts is APR, credit limit, annual fees, late charges, and other miscellaneous fees. There is nothing wrong with this, as these are all critically important factors when trying to decide which card program is the best one for you. However, once you have narrowed your search down a bit, be sure to take a good look at some of the rewards programs that these cards usually offer. You must always try to find the rewards program that you feel you will reap the most benefit off of. Here are some of the kinds of rewards programs that different accounts will offer.

Cash Back Rewards

One of the most basic rewards programs can also be one of the most lucrative for consumers. Cash back business cards will all generally work the same. For every purchase charged to your card you will earn a certain percentage of each transaction towards your cash back balance. The percentage will obviously vary with each account. Also by your business or personal credit history, although it is typically somewhere between 1-4%.

When you elect to redeem your balance you can elect to have the money credited back to your monthly statement. Request a paper check be sent or an electronic deposit be made. If you have a business with multiple card users and/or accounts then this amount can really add up quickly and save your business a good chunk of money.
Keep in mind that each credit card company is different, thus making the rewards programs for each different as well. Some programs will offer a different percentages of earnings depending on what you are spending.

Airline Rewards

Airline rewards cards are some of the most popular among larger businesses. For those that require their employees to be frequent travelers. These cards basically accumulate “points” for each dollar you spend on your account. You can then redeem these points for airline purchases. These accounts tend to vary a lot depending on your card provider. Some will only allow you to choose a specific airline for your flight and may also have certain black-out dates restricting you on your travel options. As with the cash back cards, these cards can have limits in regards to point accumulation. Also some card providers will charge a fee each time a flight is booked.

Road Rewards

Some of the most popular cards these cards are ones with a gas rewards program. The ever rising fuel prices have left a large hole in the pockets of many small businesses. These cards offer you a certain percentage back every time you make a stop at the pump. If you have a handful of drivers on the road then it is almost silly for you as a business owner to not at least look into what a gas card can do for your company.

Hotel rewards

The points accumulated on these accounts can go towards free nights, as well as upgrades. If you are staying at a high end hotel, and you have enough points accumulated. Then you may be able to mosey on up to a suite or a penthouse room.

Product and Service Discounts

A lot of card issuers have partnered up with different product and service providers to help bring you that will pertain directly to your business. An example can be rewards points that are redeemed at an office supply retailer such as OfficeMax or a UPS store. Shipping expenses can really rack up for a lot of businesses. There are numerous rewards programs that will help save you money in that area. The possibilities here are nearly endless with rewards programs, so always be sure to go through each account accordingly and select the one that will benefit you and your business the most.

The Most Popular Credit Card

The Most Popular Credit Card

The Most Popular Credit Card

The Most Popular Credit Card – Department stores, banks, Travel And Entertainment and hybrids are all offered regularly. In fact many non-financial organization such as the National Football League and and Basketball Association offer credit facilities that can be accessed with the use of plastic Choosing the best credit cards is not a simple process.

They are great if know how to use them to your benefit, and how you may exercise your legal rights, if needed. The best credit cards, can simplify your financial life. If properly used, they can help you keep good records for budgeting and tax purposes. They can also help you cut down on the time spent managing money details. Using credit cards may also afford afford several advantages not associated with other payment methods, such as free extended warranty protection on purchases and free damage insurance on car rentals.

Credit help sales

People tend to spend more at stores with store issued cards: The store owners often extend privileges to it’s holders
Stores generate more revenue by financing the customer purchases at higher interest rates. It is not surprising that many stores report more income from credit card operations, than from sales of merchandise. The stores are mining the data for the very valuable information that is obtained from looking at the record of purchases. The information can lead to discovering trends, for developing marketing campaigns.

Store cards

Store cards are usually at much higher interest rates, but are normally easy to obtain. Holders can often get preferred treatment and early sales notices and easier merchandise return privileges, however, there are some disadvantages, which can be costly

Rather than lower rates, retailers are more likely to raise credit limits and offer such things as 90 days with no interest payments, especially around the holiday season, which induces the temptation to spend more.

Dual Store/Bank Card

Some store credit cards are being replaced by cards that bear the store’s name, but is actually issued by a bank. A dual card is both a store and a bank card. The limit on dual cards are usually much higher than that of the stores, which may adversely affect your ability to get other credit, such as home mortgages. Under federal banking laws,the stores are subject to consumer protection laws that regulate interest rates, and late fees. However, the banks of another state may not be subject to those same laws.

Bank cards

Bank cards are the most common and perhaps the most useful. Visa and Mastercard are the two most common. Your Visa or Mastercard does not actually come from Visa or Mastercard. But is issued by an issuing bank or other organization. Each financial institution sets its own terms features and benefits for the credit it issues.

One big advantage of bank credit cards, is their very wide acceptance. Because the commission charges to the merchant for processing the fees are much lower. This can also be a disadvantage as the ability and the availability to charge things is also present, making it easier to overspend.

Travel and Entertainment Cards

Travel and Entertainment cards include American Express Carte Blanche and Diners Club.
There are two important differences between T&E and other credit cards. T&E cards have a short credit term, usually 30 to 60 days.

Protect Yourself From Collection Agencies

Protect Yourself From Collection Agencies

Protect Yourself From Collection Agencies

Protect Yourself From Collection Agencies – Illegal and unfair tactics are often employed by collections agencies when seeking payment. Unfortunately, the uninformed are easy prey. To hold collection agencies accountable for blatantly unlawful practices, you first have to know your federally protected rights. Collection agencies who fail to follow the rules can result in court fees, fines and even license suspension. For your part, you could have your entire debt forgiven for fighting back against disallowed tactics.

Individuals facing collection proceeding have federally protected rights under the Fair Debt Collections Practices Act (FDCPA). Some of the specific provisions provided include:

Torment or Abuse

The law bans any form of harassment, violence, or abuse against you, your property, or members of your family. Such restrictions include making repeated calls when you’ve asked them not to, using profanity or vulgar language, or threatening actions they may or may not plan to take.

Communication Channels

When collection agencies contact you they must do so between the hours of 8am-9pm, except if you have told them those are inconvenient times for you.

Third Parties Contacts

The exception is when they are trying to find out where you are. Then they can only ask your whereabouts and give their name.  The third party cannot be contacted again unless they give permission or the agency has reason to believe they were given incomplete or false information.

Collection agencies must direct all contact through your attorney, if you have retained one as long as the attorney responds to their attempts. They can only go around your attorney if you have given permission otherwise. They have the right to contact your spouse and your parents if you are a minor, unless you tell them not to in writing. Collection agencies do not have the right to harass your adult children or your parents to get you to pay, even if this happens frequently.

False or Misleading Representation

Sometimes they draft letters intending them to appear to be from a lawyer. These tactics are not allowed under the law. In addition, the facts in your case, such as how much you owe and it’s legal status, cannot be misrepresented. Unless a collection agency actually plans to follow through with it, they also cannot threaten you with legal action.

Outrageous Tactics

Consumers are protected from crooked, unfair, and unreasonable tactics employed by collection. Some commonly employed include causing you to incur expenses due to their collection efforts, adding interest and fees to what you owe, and depositing post dated check prior to the date without permission.

Secondly, ask if the person you are dealing with is a CPA. A Certified Public Accountant (CPA) is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional education and experience requirements for certification.

Your Options

You should direct complaints to the Federal Trade Commission, your state Attorney General’s office, and your original creditor if you have been the victim of these types of practices. First contact your original creditor who can be held liable for such violations. They may consider forgiving your entire debt if the actions were especially grievous.

Another potential recourse is to sue the collection agency for these types of violations. You must document your claims and have at least one witness. Particularly bad cases of repeated abuse have resulted in punitive damages as well. You need to know your rights when facing unscrupulous collection agencies. Hold them accountable and report any violations to the proper authorities right away to avoid being their next victim.

Global Credit Crunch Market

Global Credit Crunch Market

Global Credit Crunch Market

Global Credit Crunch Market – Today the top topic heard nationwide is the economy and struggles of everyday people to survive this current economic downturn. From reading history we learn of the cyclical nature of economies. So, while this economy is down today it could very much bounce back over time with the right leadership.

However, regardless to what is done or not done in Washington, I want to talk today about the responsibility to create our own economic self improvement program. I want to ask you one question. What is the state of your personal economy? Are you over burdened with debt, living pay check to pay check, fearing unexpected financial setbacks? Thinking about the retirement years? Having more month than money?

Even if the economy rebounds in the near future, I think we must continue to be vigilant about creating our own economic stimulus program. We must not get lazy and continue the same habits which in part contributes to our financial insecurity. We need a program that will stimulate and improve our personal financial reality. I suggest we look at our current condition and then create a personal three year economic self improvement program that will touch all areas of our financial life. The following tips will get you started on your personal economic recovery program.

Steps to create your plan

1) Savings

Before we receive our weekly, bi-weekly or monthly salary you notice the government has already deducted money from your paycheck among three areas: federal, medicare and social security. What does this have to do with the idea of saving? As it predetermined by the government that a certain amount of money will be set aside from the gross of your salary, it would be wise for us to set aside a certain amount of money for our savings. The money coming out regularly may seem to be a small amount, however over time you can grow a decent amount of money. Whether you choose to save $10, $50, $100 or whatever amount, the key is to be consistent and do not bother your savings. This would be a smart thing to do with the extra stimulus money from your paycheck. Global Credit Crunch Market

2) Repairing credit/Debt reduction

Now that we have started saving money for our future it is rime to say goodbye to debt and repair our credit. The Bible teaches the following concerning debt, “The rich rules over the poor, And the borrower is servant to the lender.”Proverbs 22:7There are two types of debt positive and negative. Positive debt refers to those expenses which are unavoidable and positively affect your credit ranking like a car note or mortgage. On the other hand, negative debt refers to those expenses that drag our credit rating down.

The first thing I advise is to go online to and request your credit report from the three credit bureaus. It is your right to receive a free credit report from Experian, Equifax and Transunion each year. Once you know the damage you can come up with a game plan for repair. You do not have to pay any company to repair your credit. Spend one evening at the library or Barnes and Nobles reading books on credit repair to learn what you need. You can then negotiate with your collectors from a strong position.

3) Live within your means

I like to say that you can live frugal but rich. Only you and I as individuals know the amount of money that could be saved. If we were to live a more financially responsible lifestyle. I am not saying that you have to give up cable, a nice dinner out. Turn off the air in the summer or wear old tattered clothes to save money. However, do we have to eat out so often or can we cook our own meals? Do we have to have every new piece of clothes or pair of shoes that come out? Or what about bad habits which not only destroy or health, but drains us financially. There are ways to live within a budget, yet still dress nice, eat well and enjoy this thing called life. The money you do not spend can go towards investments, debt reduction or savings.

4) Safe investments

I do not pretend to have knowledge of Wall Street. Big time investor in advising you regarding this step. Considering the economic downturn I do not know if it is wise or unwise to deal with traditional investments. However, this shouldn’t stop you from participating in what I call safe investments. Research at your local bank or online for the current rates for Cd’s(certificate of deposit) or MMA(Money Market Accounts). You can set aside a portion of the money you are no longer wasting and are now saving to invest in one of the aforementioned options and start your money working for you. Global Credit Crunch Market.

5) Start a small business/exploit your talents

The famous motivational speaker Les Brown in his book ‘Live your dreams’ says, “What do you enjoy doing? How can you do what you enjoy and make a living at it?” However, I believe each human being is capable of doing or learning to do something well that would benefit another person. It is easier to start a business doing something you enjoy and love doing than just focusing on money as the sole objective.

Get yourself a piece of paper and write down the things you know how to do really well. Next, research if there is a market locally or on the internet to exploit your talent. Considering the current economic climate and that it is said that many are in a position to lose their jobs this might not be a unrealistic option.

5 Financial Planning Mistakes

5 Financial Planning Mistakes

5 Financial Planning Mistakes

5 Financial Planning Mistakes – When we see that the fixed deposit rates are higher we invest in fixed deposits. And with the numerous calls from hardcore telecallers, we find it hard to avoid them and ultimately end up in buying an insurance product without any previous plan.

The result of such unplanned investments is however not always bad. But it results in an unnecessary financial burden, which becomes difficult to carry in the long run. Hence the unplanned investment in a fixed deposit may result in good returns from it, but overall low returns. An unplanned investment in the share market or a mutual fund results in a loss and getting stuck for years. An unplanned investment in an insurance product results in lapse of the policy after a few years.

As an intelligent investor we should follow a guideline to investing, ignoring the calls from the telecallers, friends, colleagues and our own lust for more profits. Let’s see the 5 common mistakes that an investor commits. Here they are:

Not Having An Objective.

We should have an objective, a goal, for our investments. Goal based investments results in the realization of our future dreams. If we have a goal of buying a house or putting our child into a medical school and plan our investments around that, we have a good chance to make that happen in the future. Many of us dream of such things, but never plan their investments to meet that goal.

Wrong Timing.

This is the most common of all the mistakes. When making an investment one should pick the right moment. No, I am not talking about “shubh mahurats” or auspicious timing here, I am speaking of the right economical timing. When the economies are not doing good, there are bad economic reviews everywhere and the companies are in doldrums. It’s a good time for an investment. Blue chip stocks are available on “sale”, fixed deposit rates are hiked due to higher stock market risks and high inflation, real estate prices are attractive due to slump in demands – these are excellent times to invest in these instruments. However, remember that investment timing varies for different types of instruments as each of these react differently in a situation.

Over Investing. People do not allocate their money while investing. An allocation is necessary to spread the risk of investments in different instruments. This allocation should be made with regard to the age and risk profile of an investor. If one invests 70% of his annual funds into shares and the rest in fixed deposits, in his 40s, he is taking a big risk. If a salaried person, invests 80% of his monthly salary in fixed deposits only, is not giving his money a good scope to grow. Over investing is either “putting all the eggs in one basket” or investing all the time. I know people who buy shares almost daily saying that they are investing for the long term. It is critical to understand that investments should be done in an “investment window”, an opportunity, which comes once in a while; not all the time.

Not Researching

I know that people are computer-savvy these days and they would certainly research before committing. But how many of us go beyond the tips and research reports to pause and think that these are genuine and not some marketing ploy? Internet is a fantastic tool to research, but there are good sites. Which steers an investor in the right direction and there are marketing sites, which in the name of providing research, review and comparisons, try and promote their products. I am not saying that all of these sites are bad or promoting only, but many of them actually are. A research should be based not only on what others say, but also taking one’s own situation into consideration and applying a common sense judgment over it.

Not Recording

Although most of us do keep records of their investments. These seldom reflect the true net-worth or whether an investment is keeping with the plan or not. We keep records for the sake of filing our Income Tax returns only. A proper record should reflect one’s net worth, net returns from investments, net income, net expenditure, etc. So that one can plan for the future and keep an eye whether the investments are doing good or not. There are many modern softwares which does all this and more and I will discuss about them in the near future.