Prepare for Holiday Shopping with These Timely Credit Tips

According to a YouGov Parent Survey in 2019, a quarter of parents entered the 2019 holiday shopping seasonstill paying down debt related to 2018 holiday spending. Deloitte numbers put holidayretail salesgrowth in 2019 at 4.1% year-over-year. In 2020, Deloitte predicts growth of between 1% and 1.5% year-over-year for the holiday season.

It might be that some people no longer want to pay for holiday gifts, decorations and food a year down the road. But it’s also true that the COVID-19 pandemic has hit consumerwallets and some people might be cutting back this year.

That doesn’t mean that people aren’t shopping. Google and other thought leaders note that changes to shopping habits and the need for social distancing and other measures will likely spread the holiday shopping season out longer. Shoppers are also likely to turn to online shopping.

With a ton of shopping opportunities, a longer holiday shopping season and pent-up pandemic energy, it might be easy to overspend and create debt you’ll deal with into the future. Follow these tips to prepare for holiday shopping so you can protect your financial standing, save money and make the most of the resources you have this season.

1. Check your credit scores

Begin by checking your credit scores and reports. They tell you where you stand if you want to apply for credit. They also give you a baseline of where you are so you know if your score goes up or down later with no explanation.

An unexplained drop in your credit score can be a sign your financial information is compromised. Unfortunately, the holidays are prime time for many scammers. Using a service, such as ExtraCredit’s Track It feature to keep tabs on 28 of your FICO scores, helps you know when you need to act to protect your credit.

2. Ask for a credit limit increase

If you have existing credit cards and you’re a cardholder in good standing, the months prior to the holidays can be a good time to ask for a credit limit increase. You’re not asking so you can spend more-it’s typically advisable to keep spending in line with your budget no matter how much credit you have.

You’re asking for a higher limit so you can spend what you already planned to without hurting your credit utilization. Credit utilization is the second-most important factor in determining your credit score-second only to payment history. It’s the ratio between your credit limit and how much of that credit you have used.

If you have a card with a limit of $1,000 and you spend $300, that’s a utilization rate of 30%. But if you get approved for a credit limit of $2,000 and you spend $300, that’s a utilization rate of only 15%, which is better for your score.

3. Apply for a credit cardwith a 0% APR introductory offer

Those with good or excellent credit might want to consider applying for a card with a 0% APR introductory offer. If you qualify for such a card, you typically have one or two years to pay off purchases made during the introductory period without accruing any interest.

This can be a way to finance your entire holiday without paying anything more for the privilege of doing so. However, it’s still important to maintain your budget and not overspend just because you won’t be paying the balance off until later. Otherwise, you make this season’s holiday festivities next season’s problem.

4. Pay down debt before-and after-the holidays

Speaking of last season’s debt: If you can pay it down before you start spending this season, that’s a great accomplishment. It also frees up your credit and your budget so you can better enjoy the current holiday season. If you’re paying $100 a month on your debt, that’s $100 a month that might go toward gifts or celebrations that you don’t have to put on a card this year.

If you do use credit to pay for the 2020 holidays, have a plan for paying it down as soon as possible. That’s especially true with 0% interest cards. The longer you wait, the greater the chance you’ll miss the introductory period and potentially be on the hook for a lot of interest expense.

5. Create a holiday spending budget

Whether you’re using cash or credit-or a mix of both-enter the 2020 holiday shopping season with a plan. Take an honest look at your personal budget. If you don’t have a budget, create one before you move forward. Then decide how much you can realistically spend during the holidays.

Consider which gifts you want to buy and which events you want to host or attend. You might not be able to do everything, and that’s OK. Be honest with yourself, your family and your friends about what you can afford to do with your time and money this year.

Then make a list and assign each item a monetary budget. That can include:

  • Gifts as a total
  • Gift extras, such as wrapping and tags
  • Shipping, both for receiving items you buy and for shipping gifts to others
  • Food and drinks
  • Travel
  • Decor
  • General festivities, such as tickets to holiday events

Once you assign a dollar amount to a category, stick to it. That’s a good idea even if you’re spending with credit.

6. Align budgeted spendingwith credit cardrewards

Once you know how much you want to spend, decide how best to spend it. If you’re using credit cards for the holidays, check your accounts to see if any offer cash back or rewards points. If they do, double-check which categories or stores you can shop in to earn the most points with each card.

For example, some travel rewards cards offer 6x points when you shop at supermarkets. You could use such a card to cover the food-and-drink portion of your holiday budget and reap the biggest rewards possible from that spending. You might also be able to maximize rewards when purchasing gift cards.

7. Guard your financial information and identity

As you enjoy holiday shopping, be on guard. Don’t use debit card PIN numbers unless you have to, and shield the keypad when you enter your information. Keep a close eye on your wallet or purse, and check your credit card statements regularly to ensure all charges are yours. You can also use ExtraCredit’s Guard It feature to help keep your identity and account information safe during and beyond the season.

Sign up for ExtraCredit today!

The post Prepare for Holiday Shopping with These Timely Credit Tips appeared first on Credit.com.

Source: credit.com

Average credit card interest rates: Week of January 27, 2021

The average credit card interest rate is 16.11%.

The national average credit card APR rose Wednesday to its highest point in nearly nine months, according to the CreditCards.com Weekly Credit Card Rate Report.

U.S. Bank revised several credit card APRs this week, causing the national average card APR to increase for the first time in weeks. Among the 100 cards tracked weekly by CreditCards.com, for example, three U.S. Bank cards advertised new offers, including two business cards.

For example, U.S. Bank hiked the lowest possible APRs on the U.S Bank Business Cash Rewards World Elite™ Mastercard® and the U.S. Bank Business Platinum card by 2 percentage points, causing both cards’ APRs to exceed pre-pandemic levels for the first time in months.

A year ago, for example, the lowest available APR on the Business Edge Cash Rewards card was 13.74%. It’s now 13.99%.

Meanwhile, the minimum APR on the Business Platinum card was 11.74% last January. Today, the best rate new cardholders can get is 11.99%.

U.S. Bank also increased the maximum APR on the Platinum card by an even larger margin this week, hiking the card’s maximum APR by 3 percentage points. Applicants may now receive an APR as high as 20.99%, up from a previous high of 17.99%.

U.S. Bank customers who want to transfer a balance are also contending with higher rates this week. The U.S. Bank Visa Platinum Card offers one of the longest balance transfer periods on the market, giving cardholders 20 months to repay an old balance. But once the card’s interest-free period expires, it will grow significantly more expensive.

The card’s minimum APR rose by half a percentage point, while its maximum rate climbed by 2 percentage points. As a result, the best rate new cardholders can expect is now 14.49%, while those with lower scores may get hit with an APR as high as 24.49%.

Average card APRs are likely to remain unusually low for a long time

Despite this week’s rate hike, average rates on new card offers are still near three-year-lows­­—and are unlikely to rise much higher anytime soon.

Since the beginning of the pandemic, only a handful of issuers have been willing to make big changes to brand-new offers. U.S. Bank has been among the most active lenders this year. However, most card issuers tracked by CreditCards.com haven’t touched card offers in months. As a result, the national average card APR has remained within striking distance of 16% since March.

APRs on most card offers tumbled dramatically last spring after most credit card issuers matched the Federal Reserve March 2020 rate cuts. A small number of issuers have reversed at least some of those rate cuts. But the majority of cards tracked by CreditCards.com continue to advertise the same unusually low APR they’ve advertised since spring.

Meanwhile, the Federal Reserve is also taking a wait-and-see approach to consumer lending rates, making it even less likely that cardholders will see a big rate increase in the near future.

On Jan. 27, 2021, the central bank announced that it will again leave its benchmark interest rate near zero. It also signaled that rates will likely remain low for some time since the U.S. economy is still relatively weak.

The economy has struggled so far to recover from the economic impact of the pandemic, making it unlikely that the Fed will increase rates any time soon. As a result, most U.S. credit card holders can expect lower rates for months and possibly years to come. As long as the Fed keeps rates near rock bottom, most lenders are also likely to keep interest rates unusually low.

*All information about the U.S Bank Business Cash Rewards card, the Business Platinum and the Visa Platinum has been collected independently by CreditCards.com and has not been reviewed by the issuer. This offer is no longer available on our site.

CreditCards.com’s Weekly Rate Report

Avg. APR Last week 6 months ago
National average 16.11% 16.05% 16.03%
Low interest 12.88% 12.77% 12.83%
Cash back 15.91% 15.85% 16.09%
Balance transfer 13.93% 13.85% 13.93%
Business 14.22% 13.91% 13.91%
Student 16.12% 16.12% 16.12%
Airline 15.56% 15.53% 15.48%
Rewards 15.80% 15.76% 15.82%
Instant approval 18.47% 18.38% 18.65%
Bad credit 25.30% 25.30% 24.43%
Methodology: The national average credit card APR is comprised of 100 of the most popular credit cards in the country, including cards from dozens of leading U.S. issuers and representing every card category listed above. (Introductory, or teaser, rates are not included in the calculation.)
Source: CreditCards.com
Updated: January 27, 2021

Historic interest rates by card type

Some credit cards charge even higher rates, on average. The type of rate you get will depend in part on the category of credit card you own. For example, even the best travel credit cards often charge higher rates than basic, low interest credit cards.

CreditCards.com has been calculating average rates for a wide variety of credit card categories, including student cards, balance transfer cards, cash back cards and more, since 2007.

How to get a low credit card interest rate

Your odds of getting approved for a card’s lowest rate will increase the more you improve your credit score. Some factors that influence your credit card APR will be out of your control, such as the length of time you’ve been handling credit.

However, even if you’re new to credit or are rebuilding your score, there are steps you can take to ensure a lower APR. For example:

  1. Pay your bills on time. The single most important factor influencing your credit score – and your ability to win a lower rate – is your track record of making on-time payments. Lenders are more likely to trust you with a competitive APR – and other positive terms, such as a big credit limit – if you have a lengthy history of paying your bills on time.
  2. Keep your balances low. Lenders also want to see that you are responsible with your credit and don’t overcharge. As a result, credit scores take into account the amount of credit you’re using, compared to how much credit you’ve been given. This is known as your credit utilization ratio. Typically, the lower your ratio, the better. For example, personal finance experts often recommend that you keep your balances well below 30% of your total credit limit.
  3. Build a lengthy and diverse credit history. Lenders also like to see that you’ve been successfully using credit for a long time and have experience with different types of credit, including revolving credit and installment loans. As a result, credit scores, such as the FICO score and VantageScore, factor in the average length of your credit history and the types of loans you’ve handled (which is known as your credit mix). To keep your credit history as long as possible, continue to use your oldest credit card so your lender doesn’t close it.
  4. Call your lender. If you’ve successfully owned a credit card for a long time, you may be able to convince your lender to lower your interest rate – especially if you have excellent credit. Reach out to your lender and ask if they’d be willing to negotiate a lower APR.
  5. Monitor your credit report. Check your credit reports regularly to make sure you’re being accurately scored. The last thing you want is for a mistake or unauthorized account to drag down your credit score. You have the right to check your credit reports from each major credit bureau (Equifax, Experian and TransUnion) once per year for free through AnnualCreditReport.com.

Source: creditcards.com

Why You Need ExtraCredit in Your Life

What do you need your credit score for? In a nutshell, a lot. Credit cards, loans, mortgages, APR, even renting an apartment—whether or not you qualify is based largely on your credit score. If your credit is less-than-ideal, you know it can make your life just that much harder.   

Having a bad credit score can hold you back. It can keep you from feeling in control of your life. You might feel like you’re in a vicious cycle: you apply for credit to improve your score, get denied, suffer a hard inquiry, watch your credit score drop and try again. And it starts over.

We get it. And we want to help. Enter ExtraCredit, the newest product from Credit.com. ExtraCredit is a comprehensive credit solution, with specific and encompassing features that helps you with every dimension of your credit. 

But ExtraCredit isn’t your typical credit solution. Think of it as a lifestyle change. Think of it as a way for you to take your life back. 

Check Out ExtraCredit

What’s ExtraCredit?

ExtraCredit is your one-stop-shop for all things credit. Need identity protection? ExtraCredit’s got it covered. Want a look at your FICO® Score? Sure! An exclusive discount with one of the leaders in credit repair? Yep, we’ve got that too. Ready to add more to your credit? We’ve got your back. ExtraCredit is here for you, no matter what your credit score is. ExtraCredit helps you own your life—starting with your credit. 

ExtraCredit has five features, each created to help you get where you want to be. Here’s the lowdown on each: 

Reward It

So you decided to sign up for ExtraCredit. Smart choice! Because you’ve made such a smart choice, we’ll send you an ExtraCredit card loaded with $5. That’s real money. And that’s what Reward It is all about.

It doesn’t end there. When you sign up with ExtraCredit, we start sending relevant financial offers your way. Let’s say you get approved for one of those financial offers. That’s a big deal! And we want to celebrate with you. Which is why we’ll load your ExtraCredit card with up to $200. That’s right—up to two hundred dollars. All for you, because of your smart financial decisions. 

Learn More about Reward It

Track It

There are a lot of credit scores out there. And there are a lot of apps and services that claim to have the score. You know, the one and only completely accurate score you need. But the thing is, that doesn’t exist. So the score you might be seeing on one of those other apps isn’t the same as the FICO® Score that lenders see. In fact, you have at least 28 credit scores. That’s a lot to keep track of.

That’s where Track It comes in. ExtraCredit will keep track of your 28 FICO credit scores, so you can keep track of every single one. But it goes one step further by showing you what each score is used for. Plus, you’ll get access to your credit reports from all three major credit bureaus—Experian, TransUnion and Equifax.

Learn More about Track It

Guard It

Here are some statistics for you: in 2019, 14.4 million consumers were victims of identity fraud. Sure, that might not sound like a lot of people. But when you realize that it comes out to about 1 in 15 people, it feels like a much bigger threat. In total, 33% of adult Americans have been victims of identity theft. 

You might think that you’ve got all the protection you need. And maybe you have set up a few precautions here and there. But criminals nowadays are smart. Just look at those stats! They know what they’re doing. But don’t sweat it—so do we. Guard It’s here to save the day.

Guard It provides services to keep you nice and safe. There’s Dark Web Monitoring, which will continually scan hidden websites and file-sharing networks for data breaches. Then there’s Compromised Account Monitoring that’ll catch unauthorized bank changes and accounts opened with a stolen identity. And last, but not least, there’s Identity Theft Insurance. That’ll help protect you from financial danger with a $1,000,000 policy. Better safe than sorry. 

Learn More about Guard It

Build It

We all know that credit card payments play a major role in your credit score. But that’s just half the story. What about all the other bills that you pay, like rent and utilities? Shouldn’t those count? We definitely think so, which is where Build It comes in.

Build It uses Rent & Utility reporting to match transactions from your bank account. Think about that for a second—Build It will help you add more to your credit profile whenever you pay your rent on-time. How easy is that? 

From there, Build It continues to report your payments to all three major credit bureaus each month. 

Learn More about Build It

Restore It

So your credit’s not where you want it to be. And you need help. The good news is, you’re in the right place. Restore It will connect you with one of the leaders in credit repair. You’ll get an exclusive discount for CreditRepair.com, a credit repair service that has a killer track record. If they are not available in your area, you will get that discount with another leader in credit repair.

Learn More about Restore It

The Breakdown

Okay, we know that there are a lot of credit solutions out there. You’ve probably seen other services, like credit repair, ID protection and credit monitoring. But here’s the thing—no one offers a comprehensive service like ExtraCredit. 

With ExtraCredit, you get five killer features all wrapped up in a box with a bow on top. Here’s a breakdown of how much the ExtraCredit services would typically cost on their own:

  • Basic Credit Repair: $24.95+ 
  • Rent Reporting: $9.99 
  • ID Protection: $34.99
  • FICO Scores: $19.99

Altogether, that’d add up to a cool $89.92. But with ExtraCredit you get all five services at $24.99 a month, plus real cash back for select offers. 

The Bottom Line

Sure, there are a lot of credit solutions out there. But here’s the thing—ExtraCredit impacts every dimension of your credit. So you could go with one-dimensional services provided by the other guys. Or you could go with ExtraCredit, which offers so much more than the basics.

ExtraCredit is here for you. It’s like a team of credit pros, all focused on monitoring your credit and satisfying your credit score needs. All you have to do is sit back, relax and let ExtraCredit do the work. 

ExtraCredit is the last credit solution you’ll ever need. Join the revolution today.

The post Why You Need ExtraCredit in Your Life appeared first on Credit.com.

Source: credit.com

How to Maximize Rewards on Everyday Spending

Woman using credit card on everyday spending

While many rewards enthusiasts focus on signing up for new credit cards to earn signup bonuses, not everyone has the time or desire to play the signup game. There is effort involved in tracking multiple cards, annual fees, and rewards programs, after all, and some people don’t want to spend their time or mental energy this way.

If you’re someone who falls into this category, you may be better off maximizing one or two cards instead of chasing rewards. Fortunately, you can earn plenty of rewards over time if you’re savvy about your card’s benefits and bonus categories.

The key to getting the most out of your rewards cards is understanding how they work and looking for opportunities to earn more points on your everyday spending. Here are some tips that can help.

Brainstorm every bill you could pay with a credit card

Because rewards cards offer points based on each dollar you spend, maximizing the amount you can spend on credit is the best way to boost your rewards haul. The smartest strategy to use here is figuring out how many of your monthly bills you can pay with a credit card.

While you may not be notified or aware, it’s possible that bills you’ve been paying with a check or debit card for years can be paid with a credit card without any fees. While your bills may vary, some expenses you should try to pay with a credit card include:

  • Rent
  • Utility bills like electric or gas
  • Health insurance
  • Cable television and internet
  • Cell phone
  • Taxes
  • Daycare
  • Auto and home insurance
  • Subscription services
  • College tuition or student loans
  • Medical bills
  • Lawn care

Keep in mind that these are just some of the bills you could be paying with credit. Depending on your situation, you could have additional, uncommon expenses to cover that could be paid with credit with ease.

Also, remember that these additional bills should be paid with credit on top of your everyday expenses like groceries, dining out, gas or bus fare, and miscellaneous spending. Every time you buy something in person or online, you should strive to pay with your rewards card if you can.

Leverage your rewards card bonus categories

It’s also important to leverage your favorite card bonus categories, whatever they may be. This is especially important if you have a few cards with different bonus categories since you’ll want to make sure you’re using the right card for bills that let you earn bonus points.

Let’s say you have a travel credit card that earns 3x points on dining and travel and another card that earns 6x points at the grocery store. In that case, you would be smart to use the travel card for dining and travel purchases and your other card when you stock up on food. While the amount of rewards you earn with individual purchases may seem nominal, using the right card for the right purchase can help you earn a lot more rewards over time.

Set up auto-pay bills to be paid with credit

Most of us have bills set up to be paid automatically, whether it’s our Netflix and Hulu subscriptions, gym membership, or utility bills. Make sure each bill you have set up to be paid automatically is set up to be paid with your rewards card and not a debit card. This way, you can earn rewards points on those expenses every month.

Use shopping portals and dining clubs

Many flexible rewards programs, frequent flyer programs, and hotel loyalty programs have shopping portals you can access to earn extra points. Major airlines like American, Delta, and United also have shopping portals that work similarly. (See also: How to Maximize Rewards Through Credit Card Shopping Portals)

Some programs like Southwest and Delta also offer dining clubs. These programs let you earn additional points or miles just for dining at participating restaurants in your area. It’s easy and it’s free to join, so you may as well earn extra miles on your spending if you’re going to dine out anyway. (See also: Everything You Need to Know About Airline Dining Rewards Programs)

How much the average family can earn

If you are skeptical the average family can rack up meaningful rewards without signing up for new cards over and over again, look at how this might work in real life. For example, imagine a family of four with two rewards card-toting adults. Across the two of them, they have:

  • A cash back card that earns 2% back
     
  • A travel credit card that earns 3% on dining and travel
     
  • A rewards card that earns 6% cash back at the grocery store on up to $6,000 in spending each year

To figure out how much this family might earn, we used Bureau of Labor Statistics spending averages from 2017. Here’s a rundown of that data for the year plus how much a family could earn in rewards over 12 months based on average expenses:

  • Food at home ($4,363): $261.78 in rewards at 6%
     
  • Food away from home ($3,365): $100.95 at 3%
     
  • Utilities, fuels, and public services ($3,836): $76.72 at 2%
     
  • Household operations ($1,412): $28.24 at 2%
     
  • Household supplies ($755): $45.30 at 6%
     
  • Household furnishings and equipment ($1,987): $39.74 at 2%
     
  • Apparel and services ($1,833): $36.66 at 2%
     
  • Gasoline and motor oil ($1,968): $39.36 at 2%
     
  • Other vehicle expenses ($2,842): $56.84 at 2%
     
  • Healthcare ($4,928): $98.56 at 2%
     
  • Entertainment ($3,203): $64.06 at 2%
     
  • Personal care products ($762): $45.72 at 6%
     
  • Education ($1,491): $29.82 at 2%

Total rewards: $923.75

While $900+ is a lot to earn in rewards within a year, you have the potential to earn a lot more. After all, these are just some of the expenses the average family faces and not all of them. If you could pay some additional big bills with credit each month like daycare or your rent, you could significantly add to your bottom line.

What to watch out for

While maximizing rewards cards is a smart idea if you’re using them already anyway, there are always pitfalls to be aware of when you’re using a credit card. Here’s what to watch out for during your quest for more cash back and travel rewards.

Fees for using credit

While there are many bills you can pay with credit without a fee, some vendors, merchants, and service providers charge a fee to use a credit card as payment. Fees are especially prevalent on bills such as utilities, cable or internet, rent, and insurance. Make sure to verify you aren’t being charged a fee to use credit before you proceed.

Annual fees

Don’t forget that some rewards cards charge annual fees. These fees may be worth it depending on your spending and rewards haul, but you should always factor them into the equation to make sure each fee is worth paying. If you’re against paying annual fees, look for rewards cards that don’t charge one.

Budgeting mishaps

Using a credit card for all your expenses may simplify your financial life, but it could also cause your budget to fall out of whack. Make sure you’re only spending on purchases you planned to make anyway, and that you’re tracking your spending and paying off your credit cards regularly.

Debt

Never use credit cards for purchases you can’t afford to repay if you’re pursuing rewards. The interest you’ll pay will always be much more than the rewards you earn. If you’re worried using credit will cause you to rack up debt you can’t afford to repay, you’re better off sticking to cash or debit instead.

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Want to maximise your credit card rewards? The key to getting the most out of your rewards cards is understanding how they work and looking for opportunities to earn more points on your everyday spending. We’ve got the ultimate tips and tricks to help you save money and earn more rewards! | #creditcards #rewardsprogram #creditcardrewards


Source: feeds.killeraces.com

9 Financial Strategies for Padding Your Bank Account in Case 2021 Goes Sideways

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So, you thought 2020 was bad? Just wait!

OK, we’re kidding. Obviously, 2021 should turn out way better than 2020 did, right?

There’s no way it could be worse, right?

Right?

Welllllllll… we hate to sound like pessimists, but if there’s one thing life has taught us, it’s that things can always get worse.

Maybe COVID’s sequel shows up. Maybe the economy crashes again. Maybe our weird politics get even weirder. Maybe aliens land in Times Square.

Just in case, we’ve got some proactive moves you should make to protect your bank account in case things go south. Before the next crisis gets going, let’s get started with the protective measures:

1. Save Up An Emergency Fund

This past year has taught us the hard way that everyone should have an emergency fund. You need a place where you can safely stash your savings away — but still earn money on it.

Under your mattress or in a safe will get you nothing. And a typical savings account won’t do you much better. (Ahem, 0.06% is nothing these days.)

But a debit card called Aspiration lets you earn up to 5% cash back and up to 16 times the average interest on the money in your account.

Not too shabby!

Enter your email address here to get a free Aspiration Spend and Save account. After you confirm your email, securely link your bank account so they can start helping you get extra cash. Your money is FDIC insured and they use a military-grade encryption which is nerd talk for “this is totally safe.”

2. Stop Overpaying for Stuff

Your bank account will be in better shape in 2021 if you stop overpaying for things. For instance, wouldn’t it be nice if you got an alert any time you’re shopping on Walmart and are about to get ripped off?

That’s exactly what a free service called Capital One Shopping does. (No need to be a Capital One customer to use it!)

Capital One Shopping’s free alerts can be added to your browser. Before you check out, it’ll check other websites, including Amazon, Target, eBay and others to see if your item is available for cheaper. It will also show you coupon codes, set up price-drop alerts and even let you see the item’s price history.

Let’s say you’re shopping for a new TV. You’re ready to check out, and you assume you’re getting the best price. Here’s when Capital One Shopping will pop up and let you know if you’re about to overpay. It will even automatically apply any known coupon codes to your order.

So far, Capital One Shopping has saved users more than $70 million.

You can get started with Capital One Shopping in just a few minutes to see if you’re overpaying online.

3. Get Paid Every Time You Buy Toilet Paper

Grocery shopping was never exactly pleasant. But these days, it’s a downright struggle. Fighting crowds; keeping six feet of space — just buying toilet paper is a feat. Shouldn’t you have something to show for it?

A free app called Fetch Rewards will reward you with gift cards just for buying toilet paper and more than 250 other items at the grocery store.

Here’s how it works: After you’ve downloaded the app, just take a picture of your receipt showing you purchased an item from one of the brands listed in Fetch. For your efforts, you’ll earn gift cards to places like Amazon or Walmart.

You can download the free Fetch Rewards app here to start getting free gift cards. Over a million people already have, so they must be onto something…

4. Knock $540/Year From Your Car Insurance in Minutes

Car insurance is another thing you shouldn’t overpay for in 2021. When’s the last time you checked car insurance prices?

You should shop your options every six months or so — it could save you some serious money. Let’s be real, though. It’s probably not the first thing you think about when you wake up. But it doesn’t have to be.

A website called Insure.com makes it super easy to compare car insurance prices. All you have to do is enter your ZIP code and your age, and it’ll show you your options.

Using Insure.com, people have saved an average of $540 a year.

Yup. That could be $500 back in your pocket just for taking a few minutes to look at your options.

5. Stop Paying Your Credit Card Company

If things go south financially, the last thing you want to be saddled with is credit card debt. And the truth is, your credit card company doesn’t really care. It’s just getting rich by ripping you off with high interest rates. But a website called AmOne wants to help.

If you owe your credit card companies $50,000 or less, AmOne will match you with a low-interest loan you can use to pay off every single one of your balances.

The benefit? You’ll be left with one bill to pay each month. And because personal loans have lower interest rates (AmOne rates start at 3.49% APR), you’ll get out of debt that much faster. Plus: No credit card payment this month.

AmOne keeps your information confidential and secure, which is probably why after 20 years in business, it still has an A+ rating with the Better Business Bureau.

It takes two minutes to see if you qualify for up to $50,000 online. You do need to give AmOne a real phone number in order to qualify, but don’t worry — they won’t spam you with phone calls.

6. Cut Your Food Budget by Planning Ahead

Even if you’re gainfully employed and not in imminent danger of being evicted, you’re probably struggling with bills like most of us are. Groceries are a huge part of everyone’s budget these days, so they’re a big target for savings.

Try preparing for the week ahead with some meal planning. This goes beyond just making a shopping list. Real meal planning helps you save money because it helps you use what you buy, preventing food and money waste. It also prevents you from spending extra cash on emergency lunches or late-night takeout.

First, figure out how many meals you’re responsible for making every week. If it’s just you, your answer might be 21: seven breakfasts, lunches and dinners. If you have a family, count meals per person — a dinner for three people counts as three dinners, even if you all eat the same thing.

Now figure out how much food you’ll need to buy to make it until your next grocery trip. If you buy the same items repeatedly, you know which ones to stock up on when they go on sale. Stocking up on sale items also helps you freeze meals for the future. If there’s a way to buy in bulk and prep the foods you eat the most often, do it!

7. Add $225 to Your Wallet Just for Watching the News

It’s been a historic time for news, and we’re all constantly refreshing for the latest updates. You probably know more than one news-junkie who fancies themselves an expert in respiratory illness or a political mastermind.

And research companies want to pay you to keep watching. You could add up to $225 a month to your pocket by signing up for a free account with InboxDollars. They’ll present you with short news clips to choose from every day, then ask you a few questions about them.

You just have to answer honestly, and InboxDollars will continue to pay you every month. This might sound too good to be true, but it’s already paid its users more than $56 million.

It takes about one minute to sign up, and start getting paid to watch the news.

Mike Brassfield (mike@thepennyhoarder.com) is a senior writer at The Penny Hoarder. He’s got his game face on and is ready for 2021, come hell or high water.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

4 credit cards offering a $500 sign-up bonus

Nowadays, it is easy to score a generous introductory bonus on a credit card. Just by meeting eligibility requirements and a specified spend threshold, you can bring home hundreds of dollars in extra pocket change when you sign up for a new card.

While cash back cards typically offer less valuable introductory bonuses than rewards cards offering points or miles, these bonuses come with a big advantage. Rather than having to redeem points a certain way to stretch their value, you can use a big cash back bonus to make a huge dent on any kind of purchase.

Plus, cash back cards are offering higher and higher bonuses to compete with other rewards currencies – even up to $500 or more.

Right now, $500 (or higher) intro bonuses are limited to business credit cards – but offers change regularly, so a personal card boasting an inflated bonus could be around the corner. Personal cards, including the Capital One® Savor® Cash Rewards Credit Card, have offered intro bonuses up to $500 in their history. Though the sign-up offer on the Savor is not at its peak, keep an eye out for future limited-time offers on this and other cards.

Which cards are currently offering $500 introductory bonuses?

At the moment, only small business credit cards are offering intro bonuses of $500 or more. Take a look at four current offers below:

Card Introductory offer
Ink Business Cash® Credit Card $750 if you spend $7,500 in first 3 months
Ink Business Unlimited® Credit Card $750 if you spend $7,500 in first 3 months
Capital One Spark Cash for Business $500 if you spend $4,500 in first 3 months
U.S. Bank Business Cash Rewards World Elite™ Mastercard® $500 if you spend $4,500 in first 150 days

As you can see, each of these generous intro offers requires a fairly high spend threshold to reach it. Before you sign up for one of these cards, ensure you can spend enough to earn the bonus without overextending your budget.

See related: How business credit cards can help you run a business from home

Who is eligible to earn these bonuses?

Before jumping at one of these generous offers, you should ensure you are eligible to earn the bonus. Issuers often have restrictions on who can take home a sign-up bonus.

For example, the Ink Business Cash and Ink Business Unlimited cards from Chase are subject to the 5/24 rule. This means if you’ve opened five or more credit cards with any issuer in the last 24 months, you likely won’t qualify for either card.

On the bright side, Chase business cards will not count against your 5/24 standing for future applications.

For the Capital One Spark Cash card and U.S. Bank Business Cash Rewards card, the sign-up bonus is limited to new account holders. If you currently have or have previously had one of these cards, you might not be eligible for a new bonus on the same card.

Cash bonuses vs. points bonuses

The possibilities for a $500 sign-up bonus are endless – allowing you to book a trip, buy yourself a special something, offset your next major bill and so much more. It is easy to see how an extra $500 is valuable – but is it the best offer you can find?

The short answer is no. Points-based sign-up bonuses can offer incredible potential value when you redeem rewards strategically. Because the value of points and miles shifts depending on how you spend them, you can often get much more than the estimated cash value of a sign-up bonus by redeeming your points for well-priced flights, hotels or other promotions.

For example, check out some top points-based introductory offers and our estimated value. At first glance, the following bonuses seem to offer a similar value to a $500 cash bonus. But when you redeem your points for travel, they can actually take you much further.

Card Introductory offer Estimated value of introductory offer
IHG® Rewards Club Premier Credit Card 140,000 points if you spend $3,000 in first 3 months $770
Chase Sapphire Reserve® 50,000 points if you spend $4,000 in first 3 months $750 (when redeemed for travel in the Ultimate Rewards portal)

Chase Sapphire Preferred® Card*

60,000 points if you spend $4,000 in first 3 months $750 (when redeemed for travel in the Ultimate Rewards portal)
IHG® Rewards Club Traveler Credit Card 100,000 points if you spend $2,000 in first 3 months $550

But there is a big drawback – point bonuses are typically only worth their full value when you redeem them for a specific kind of purchase. If a card offers an 80,000-point bonus – but points are only worth a full 1 cent each when redeemed for travel – then that bonus is only ideal for cardholders who already spend a significant amount on travel. If you’d sacrifice half the value of your bonus offer to redeem it for another kind of purchase – such as a statement credit to cover your bills – then you are better off opting for a more flexible cash back offer.

Should you sign up for a $500 bonus offer?

Before jumping at a high bonus offer, you should always consider the spend requirement. If you will have to charge more than you can afford to pay off in order to earn the bonus, it might not be worth it.

See related: Card APRs are at a record high. Is a sign-up bonus still worth the risk?

Additionally, cash bonuses don’t always offer as much potential value as a points-based introductory bonus. Consider how you want to spend your rewards and which card’s earning rate works best for you before you apply.

*All information about the Chase Sapphire Preferred Card has been collected independently by CreditCards.com and has not been reviewed by the issuer. This offer is no longer available on our site.

Source: creditcards.com