card offers – Aadhar UID http://aadharuid.in/ Tue, 15 Mar 2022 16:45:05 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://aadharuid.in/wp-content/uploads/2021/10/Icon-120x120.png card offers – Aadhar UID http://aadharuid.in/ 32 32 Is a gas credit card worth it? https://aadharuid.in/is-a-gas-credit-card-worth-it/ Tue, 15 Mar 2022 16:45:05 +0000 https://aadharuid.in/is-a-gas-credit-card-worth-it/ For the most generous gas discounts, look for rewards credit cards that pay out 5% cash back savings on gas purchases, Rossman says. You can find options with no annual fee. Just make sure you understand the discount limits. The Citi Personalized Charge Card, for example, offers cardholders 5% cash back on their top spend […]]]>

For the most generous gas discounts, look for rewards credit cards that pay out 5% cash back savings on gas purchases, Rossman says.

You can find options with no annual fee. Just make sure you understand the discount limits.

The Citi Personalized Charge Card, for example, offers cardholders 5% cash back on their top spend category each billing cycle, which can include gas, up to $500 in purchases per cycle. Other purchases earn 1% cash back.

For those who find it worth buying a warehouse club membership, Sam’s Club and Costco offer credit cards that generously reimburse gas purchases, which can be made at any gas station.

Sam’s Club MasterCard pays 5% cash back up to an annual cap of $6,000, then 1% thereafter. Citi’s Costco Anywhere Visa card reimburses 4% on gas purchases up to $7,000 per year, then drops to 1%.

If you drive a lot and expect to hit a rewards cap, consider using this card just for gas purchases, while switching to a different one for different spending categories, Rossman says.

Another option is the PenFed Platinum Rewards Visa signature card, which pays five times the points on gas purchases and electric vehicle charging stations, with no mileage cap. These points can be used for travel, merchandise, and gift cards, among other categories.

The card is available through the PenFed Credit Union, which is open to new members with a $5 deposit. However, to earn the highest gasoline rewards, you must qualify as an Honors Advantage member, which requires you to be in the military or open a checking account with PenFed.

To compare different credit card rewards, check out websites such as CreditCards.com, WalletHub.com, and MoneyCrashers.com.

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Expect big bonus offers and crypto rewards https://aadharuid.in/expect-big-bonus-offers-and-crypto-rewards/ Sun, 06 Mar 2022 12:32:25 +0000 https://aadharuid.in/expect-big-bonus-offers-and-crypto-rewards/ Image source: Getty Images Several great credit card offers came out last year, and they could get even better in 2022. Key points Credit cards with crypto rewards are my pick for the biggest trend of 2022. Card issuers will also likely launch more exciting introductory offers and special perks. It wouldn’t be surprising to […]]]>

Image source: Getty Images

Several great credit card offers came out last year, and they could get even better in 2022.


Key points

  • Credit cards with crypto rewards are my pick for the biggest trend of 2022.
  • Card issuers will also likely launch more exciting introductory offers and special perks.
  • It wouldn’t be surprising to see some annual fee hikes this year.

2021 has been a big year for credit card enthusiasts. Card issuers offered some of the best bonuses we’ve seen in a long time, offered great perks and launched new credit cards.

There is only one question now: what happens in 2022? Although we can never know for sure, we can try to predict some of the major credit card trends that will define this year.

1. Crypto credit cards will be the next big thing

The crypto has had a huge streak of success, both in terms of value and notoriety. The crypto market as a whole grew from around $780 billion to over $2.2 trillion in value in 2021, many of the biggest coins became household names, and the Super Bowl was full of ads for cryptographic applications.

If I had to make a prediction for 2022, it would be more credit card companies expanding into crypto rewards. There are already crypto credit cards available, but this is still an area with plenty of room to grow.

We will most likely see more crypto platforms launching their own card products. Card issuers can also add cryptocurrency as a way to redeem points with some of their rewards credit cards.

2. Card issuers will continue to offer big sign-up bonuses

Sign-up bonuses are one of the most popular incentive card issuer offers for new cardholders. There were several high value bonuses in 2021, as American Express, Capital One and Chase all had 100,000 point welcome bonuses available that year.

Expect to see more big bonuses throughout 2022. This is an effective strategy for credit card companies to attract new customers. Keep in mind that bonuses are often only available for a limited time, so if you see one you like, it’s best to apply for the card as soon as possible.

3. More credit cards will offer balance transfers with an introductory APR of 0%

Balance transfer offers were hard to come by at the start of the pandemic. There weren’t many credit cards offering a 0% introductory APR on balance transfers in 2020, but that benefit started to return last year.

Consumer debt also returned last year. According to the Federal Reserve, revolving credit balances (like credit cards) grew by 6.6% in 2021.

With more people carrying balances, card issuers will likely continue to bring back balance transfer credit cards. This is another way to attract new customers, as they allow you to lower the interest rate on your credit card.

4. Perks will become more diverse and harder to use

The features of the best credit cards have become much more specialized in recent years. For example, there are cards that offer monthly spend credits with top fitness brands, such as Equinox and Peloton, and cards with free subscriptions to Walmart+ and Instacart Express.

As card issuers expand their partnerships, they will continue to offer these types of benefits that work with specific brands.

Consumers aren’t always a fan of these benefits, and I understand why. They can be tricky to use, and if you don’t use them, they’re worthless. On the other hand, I found services that I like only because of the credit card offers I had.

There were big annual fee increases in 2021. The Platinum Card® from American Express went from $550 to $695 per year (see rates and fees). Chase increased the Chase Sapphire Reserve® annual fee from $450 to $550, which it originally planned to do in 2020. It delayed this change for a year due to the pandemic.

I think more annual fee hikes are on the way in 2022, most likely on cards with annual fees between $70 and $250. Most of these cards have been charging the same amount for years, so card issuers may decide it’s time to raise rates.

There’s good news and bad news in the credit card trends I predict for 2022. If this year looks like 2021, we should at least have plenty of exciting new offers to check out.

The best credit card erases interest until 2023

If you have credit card debt, transfer it to this top balance transfer card guarantees you an introductory APR of 0% in 2023! Plus, you won’t pay any annual fees. These are just a few of the reasons why our experts consider this card a top choice to help you control your debt. Read the full The Ascent review for free and apply in just 2 minutes.

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Bank of America launches new premium travel credit card https://aadharuid.in/bank-of-america-launches-new-premium-travel-credit-card/ Mon, 28 Feb 2022 23:43:24 +0000 https://aadharuid.in/bank-of-america-launches-new-premium-travel-credit-card/ Bank of America has launched its own premium credit card to compete with Chase Sapphire Reserve, American Express Platinum Card and Capital One Venture X. The new Bank of America Premium Rewards Elite Credit Card offers a handful of travel and lifestyle benefits. life. but doesn’t pack as much of a punch in the awards […]]]>

Bank of America has launched its own premium credit card to compete with Chase Sapphire Reserve, American Express Platinum Card and Capital One Venture X. The new Bank of America Premium Rewards Elite Credit Card offers a handful of travel and lifestyle benefits. life. but doesn’t pack as much of a punch in the awards department as its competitors.

Key points to remember

  • The Bank of America Premium Rewards Elite Credit Card is the first premium credit card offered by its card issuer.
  • The card offers a suite of luxury benefits to go along with its $550 annual fee.
  • However, the card isn’t quite on par with other premium cards when it comes to rewards, unless you’re a high net worth Bank of America or Merrill Lynch customer.

New Bank of America Premium Credit Card Details

After being dominated by the Platinum Card from American Express for a few decades, the premium credit card market has warmed up in recent years. Today, many major credit card companies offer one, with Bank of America being the latest.

The Bank of America Premium Rewards Elite credit card offers impressive benefits, but some omissions make it less attractive than its competitors, unless you are a member of the Bank of America Preferred Rewards program.

Here’s a quick breakdown of what the new map offers.

Awards

When you first get the card, you earn 50,000 bonus points after spending $3,000 or more on purchases within the first 90 days of account opening. You’ll also earn 2 unlimited points per dollar on travel and dining purchases and 1.5 points per dollar on everything else.

If you’re a Preferred Rewards customer, you could earn up to 75% more points on your purchases. To qualify, you need a combined three-month average balance of at least $20,000 in eligible Bank of America and Merrill Lynch accounts. If you have $20,000 or more, you’ll earn 25% more points with the card, $50,000 will earn you 50% more, and you’ll get 75% more points with $100,000 or more in assets.

You can use your points to get 20% off airfare when you book through the Bank of America Travel Center or Concierge. Alternatively, you can use your rewards to book car rentals and hotels, earn cash back, purchase gift cards, or book experiences or event tickets through the bank’s concierge.

A glaring omission here compared to other premium credit cards is the lack of transfer partners. With American Express, Chase, Citi and Capital One, you can get much more value by transferring your points to an airline or hotel rewards program than by redeeming them directly with the issuer of the card. map.

Benefits

Like other top credit cards, the Bank of America Premium Rewards Elite credit card really shines with its benefits:

  • Get up to $300 in airline incidental credits to use on preferred seat upgrades, ticket change or cancellation fees, checked baggage fees, in-flight entertainment, food expenses and beverages on board and airport lounge fees affiliated with eligible air carriers.
  • Receive up to $150 in annual statement credits for qualifying carpooling, food delivery, streaming service and fitness purchases.
  • Enjoy complimentary access to Priority Pass Select airport lounges.
  • Get a credit of up to $100 for TSA PreCheck or Global Entry application fees.

These benefits are similar to what some other premium cards offer, but the airline’s incidental credit isn’t as flexible as the $300 travel credit offered by the Sapphire Reserve. However, the $150 Lifestyle Credit should be easy to max out.

Keep in mind, though, that the card has an annual fee of $550, so you’ll need to get that much value or more each year to make it worth it.

Is the new Bank of America card worth it?

In general, the new Bank of America Premium Rewards Elite credit card does not compare well to other premium credit cards. It would be difficult for cardholders to offset the annual cost of the card from its benefits alone. And if you’re not a wealthy Bank of America or Merrill Lynch, the rewards program is a little disappointing, even with the 20% discount on flights booked with points. The lack of transfer partners is the most glaring shortcoming.

However, if you are a Bank of America Preferred Rewards customer, you could potentially get up to 3.5% back on travel and dining and up to 2.62% on everything else, which is impressive and , in conjunction with the 20% discount on airline tickets. , could be worth the annual fee.

Before considering the card, be sure to compare it with other premium travel credit cards to determine which will offer you the most value based on your spending and travel habits.

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Get a credit card with multiple offers? Check out THESE versatile cards | Personal finance news https://aadharuid.in/get-a-credit-card-with-multiple-offers-check-out-these-versatile-cards-personal-finance-news/ Sun, 27 Feb 2022 11:45:48 +0000 https://aadharuid.in/get-a-credit-card-with-multiple-offers-check-out-these-versatile-cards-personal-finance-news/ New Delhi: There are many credit card options available in the market, but finding the best all-round credit card that offers benefits in multiple categories can be tricky. What is a multi-purpose credit card? Multi-purpose cards are credit cards that offer rewards in many categories such as shopping, dining, entertainment, travel, etc., through a single […]]]>

New Delhi: There are many credit card options available in the market, but finding the best all-round credit card that offers benefits in multiple categories can be tricky.

What is a multi-purpose credit card? Multi-purpose cards are credit cards that offer rewards in many categories such as shopping, dining, entertainment, travel, etc., through a single credit card. Using a card like this allows people to buy and save in different ways. There are many credit card options available in the market, but finding the best all-round credit card that offers benefits in multiple categories can be tricky. According to Paisabazaar’s research, here are some alternatives that might be ideal companions for you.

Axis Bank Ace credit card – This Axis bank card offers a 5% reward on all utility bill payments made through Google Pay. It also offers 4% cashback on Zomato, Ola, and Swiggy, as well as a flat 2% cashback on all other purchases. Along with rewards on purchases, the cardholder gets access to four nationwide lounges and up to 20% discount at over 400 partner restaurants across India throughout the year. For this card, cardholders have to pay an annual charge of Rs 499.

DigiSmart Standard Charter Credit Card – The card, which has an annual charge of Rs. 588, offers a 10% discount at Grofers and Zomato. However, you can only use this discount on five transactions per month. Cardholders get a 20% discount on Myntra. Once per quarter, Yatra offers a 20% discount on domestic air tickets and a 10% discount on international air tickets (up to Rs 10,000). Similarly, if you book hotels through Yatra, the card offers a 25% discount on domestic hotel bookings (up to Rs 4,000) for one transaction per quarter.

HDFC Regalia Credit Card – HDFC’s Regalia card offers its customers 4 reward points for every Rs 150 spent on retail purchases. Insurance, tuition, utilities and rent are all included. Cardholders can use their points to purchase hotel rooms, airline tickets, gifts, certificates and merchandise, among other things. It also has a 2% foreign currency markup fee. The HDFC Regalia credit card has an annual charge of Rs. 2,500.

HDFC Diners Club Privilege credit card – The HDFC Diners Club Privilege Credit Card, which has an annual charge of Rs. 2,500, provides customers with a free annual subscription to Amazon Prime, Times Prime, Big Basket, Zomato Pro and other services. It also gives you special discounts at top spas, salons, gyms, and health retreats. This card carries a surcharge of 1.99% in foreign currencies. It offers a fuel surcharge waiver of 1% on a minimum transaction of Rs 400, along with other incentives in various areas.

SBI Elite card – The annual charge for an SBI Card Elite is Rs. 5,000, and as a welcome electronic gift, it offers its members a coupon of Rs 5,000 from Bata, Pantaloons, Yatra, Shoppers Stop and other retailers. It also includes free Trident Privilege and Club Vistara membership. The SBI Card Elite has a foreign currency surcharge of 1.99%. It offers six complimentary international airport lounge passes and two complimentary domestic lounge passes, as well as 5X reward points at department stores, restaurants, and grocery stores, among others.

Live

#mute

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MakeMyTrip’s TripMoney and SBM Bank India Launch Global Credit Card-Check Features https://aadharuid.in/makemytrips-tripmoney-and-sbm-bank-india-launch-global-credit-card-check-features/ Wed, 23 Feb 2022 15:36:34 +0000 https://aadharuid.in/makemytrips-tripmoney-and-sbm-bank-india-launch-global-credit-card-check-features/ Unlike other credit cards which require credit history, the company claims that this credit card requires customers to load money in rupees as collateral and also track balances in Indian currency. TripMoney, the fintech arm of MakeMyTrip, and SBM Bank India have launched a secured rupee-denominated credit card, TripMoney Global Card. The credit card offers […]]]>

Unlike other credit cards which require credit history, the company claims that this credit card requires customers to load money in rupees as collateral and also track balances in Indian currency.

TripMoney, the fintech arm of MakeMyTrip, and SBM Bank India have launched a secured rupee-denominated credit card, TripMoney Global Card. The credit card offers various advanced money management features. It also offers foreign travelers to pay a markup on currency conversions and more. The launch of this map is timely as the world reopens its borders to Indian travelers in the coming weeks.

Unlike other credit cards which require credit history, the company claims that this credit card requires customers to load money in rupees as collateral and also track balances in Indian currency. Additionally, the card has no hidden fees, such as currency conversion at POS, ATMs, and e-commerce websites, providing transparency for travelers. The TripMoney Global card offers multiple value-added benefits including zero forex markup, free lifetime validity, 100% digital in-app card management, and more.

The Global card, powered by Visa, can be used in over 150 countries. The card is aimed at international travelers, including the student population, who prefer a combination of lifestyle benefits with advanced digital money management features.

Rajesh Magow, Group Co-Founder and CEO, MakeMyTrip, said: “As part of our vision of a super travel app, we continue to actively invest in creating products and solutions to improve the travel experience. of our customers’ overall travel. TripMoney’s Global Card offers Indian travelers a safe, transparent and fast money management solution that can be accessed anytime and from anywhere.

Main advantages of the card;

To allow travelers to save more and earn rewards when traveling abroad, cardholders are entitled to offers on flights, hotels and holidays, as well as a chance to receive discounts up to Rs 70,000 on MakeMyTrip and Goibibo. Free membership in both brands’ invitation-only loyalty programs, MMT Black and GoTribe, is also extended as an add-on to these cardholders.

The card has been designed with several advanced security features built-in, such as instant locking and unlocking via the app – when traveling. The app further allows travelers to set transaction limits for multiple payment methods to prevent fraud, options to locate nearest ATMs, view transaction history, raise questions about n’ any transaction and more – with just a few clicks.

Neeraj Sinha, Head – Retail and Consumer Banking, SBM Bank India, said: “To facilitate a smooth and memorable holiday experience, it is essential to ensure a reliable and secure financial ecosystem – so that travelers can enjoy the destinations, without worry about their financial needs. With the borders open, TripMoney Global Card will also help travelers open up a world of financial possibilities. Additionally, we now have a burgeoning segment of study abroad students who are new to credit but have lifestyle aspirations.

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BOB Financial & IRCTC Launch RuPay Contactless Credit Card: Check the Benefits Here https://aadharuid.in/bob-financial-irctc-launch-rupay-contactless-credit-card-check-the-benefits-here/ Wed, 23 Feb 2022 03:41:12 +0000 https://aadharuid.in/bob-financial-irctc-launch-rupay-contactless-credit-card-check-the-benefits-here/ Business oi-Vipul Das | Posted: Wednesday February 23rd 2022, 9:11 AM [IST] BOB Financial Solutions Limited (BFSL), a wholly owned subsidiary of Bank of Baroda (BoB), and Indian Railway Catering and Tourism Corporation Ltd (IRCTC) have collaborated to develop the IRCTC BoB RuPay contactless credit card which is particularly designed for provide regular passenger trains […]]]>

Business

oi-Vipul Das

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BOB Financial Solutions Limited (BFSL), a wholly owned subsidiary of Bank of Baroda (BoB), and Indian Railway Catering and Tourism Corporation Ltd (IRCTC) have collaborated to develop the IRCTC BoB RuPay contactless credit card which is particularly designed for provide regular passenger trains with incredible benefits. Holders of the IRCTC BoB RuPay contactless credit card will receive numerous rewards when shopping in other categories ranging from groceries to fuel. Cardholders can also use this card to make purchases from overseas merchants and ATMs that are part of the Japan Credit Bureau (JCB) network.

BOB Financial & IRCTC Launch RuPay Contactless Credit Card: Check the Benefits Here

BFSL said in an official statement that “holders of the IRCTC BoB RuPay contactless credit card will be able to earn up to 40 reward points (per INR 100 spent) on 1AC, 2AC, 3AC, CC or EC bookings made through the IRCTC website or mobile app. The card also offers a 1% transaction fee waiver for customers on all their train ticket bookings. Customers making a one-time purchase worth INR 1,000 or more within 45 days of card issuance will receive 1,000 bonus reward points.”

This co-branded credit card will provide 4 reward points on every INR 100 spent in supermarkets and department stores and 2 reward points on all other purchases. Cardholders will be entitled to four free visits to partner rail lounges per year. The card will also provide a 1% fuel surcharge waiver at all fuel pumps in India. By associating their Loyalty Number (printed on the co-branded credit card) with their IRCTC Login ID, cardholders will be able to redeem their reward points collected on the IRCTC website and mobile app.

Ms. Rajni Hasija, CMD of IRCTC said at the event, “IRCTC is extremely pleased and honored to partner with BOB Financial, a wholly owned subsidiary of Bank of Baroda – the third largest bank in the India to introduce the new co-branded contactless credit card on the RuPay platform in collaboration with NPCI.IRCTC has rich experience in offering such co-branded cards to its customers and has partnered with another public sector bank to offer its loyalty program to its customers.The recent collaboration with BOB Financier in the launch of the contactless credit card IRCTC BoB RuPay is another historic step towards the promotion of the indigenous payment platform RuPay and the realization of the vision of digital India of the Honorable Prime Minister of India. IRCTC is pleased to play an instrumental role in realizing this vision and we look forward to the resounding success of this map with and our customers. The value proposition of this card has great potential as well as an opportunity to be used among IRCTC’s vast customer base through its e-ticketing website www.irctc.co.in and mobile app ‘IRCTC Rail Connect ‘.

Mr. Shailendra Singh, MD and CEO of BFSL said of the inauguration that “We are honored to partner with IRCTC for the co-branded credit card, in partnership with NPCI. The card will provide uninterrupted payment convenience and benefits to customers for rail travel as well as all other shopping needs.We also expect the co-branded card to act as a catalyst for further adoption of digital payments in deeper geographies, aided by the presence of both the rail network and the BoB branches.

Ms. Praveena Rai, COO of NPCI, said at the unveiling, “We are delighted with the launch of RuPay’s contactless credit card by BOB Financial in partnership with IRCTC. This card will allow customers to save on their train journey and earn rewards points on their spending. in other categories. With RuPay, we aim to deliver personalized value propositions backed by cutting-edge technology to deliver a rewarding experience to millions of customers. We believe that this launch is a step towards making RuPay the preferred credit card for India. “

Article first published: Wednesday, February 23, 2022, 9:11 a.m. [IST]

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The X1 credit card: higher spending limits and new technology integrations https://aadharuid.in/the-x1-credit-card-higher-spending-limits-and-new-technology-integrations/ Mon, 21 Feb 2022 18:45:03 +0000 https://aadharuid.in/the-x1-credit-card-higher-spending-limits-and-new-technology-integrations/ The X1* card is a new product that promises a handful of unique rewards and security features. It requires a double take aesthetically too. Advertised as 17 grams of stainless steel, the card will come to you in a branded box, a different move than typical envelope issuers. In keeping with X1’s aspiration to be […]]]>

The X1* card is a new product that promises a handful of unique rewards and security features. It requires a double take aesthetically too. Advertised as 17 grams of stainless steel, the card will come to you in a branded box, a different move than typical envelope issuers.

In keeping with X1’s aspiration to be unconventional, you can’t just “apply” for it. Following the manual of applications and services seeking to appear as exclusive, you can request an invitation to apply by submitting your name, email address and income.

In this article

Introductory offerN / A

APR12.75% – 19.75% variable

Recommended credit Excellent/Good Credit

Reward rate

  • Earn 2x points on every dollar spent
  • Earn 3x the points on every dollar spent that year when you spend $15,000 or more in a year
  • 4X points for 30 days for each friend you invite who receives the card

Annual feesAny

Intro Purchase APRN / A

Balance Transfer Fee 2% of the amount of each transfer.

APR balance transfer12.75% – 19.75% variable

APR Penalty Any

  • Earn 2x points on every dollar spent
  • Earn 3x the points on every dollar spent that year when you spend $15,000 or more in a year
  • 4X points for 30 days for each friend you invite who receives the card

X1 smart card features

The X1 card intends to use technology to ease the hassle of security and payment management, while making it easier for users to improve their credit.

X1 claims its credit card offers up to five times the spending limit of a traditional credit card, with its average credit limit at $24,300. This gives cardholders a lot more purchasing power, as well as the ability to take on more debt. It also potentially gives them the chance to increase their credit score improving credit utilization (the ratio between what an individual owes and their total spending limit). The issuer bases your credit limit on your salary, and new approved X1 cardholders have annual salaries ranging from $40,000 to millions of dollars.

Another cool feature is automatic virtual card support, which gives you a unique, unique credit card number every time you make an online purchase. This helps you spend more anonymously by limiting companies’ access to your personal information, potentially preventing identity theft. These virtual cards can be used for one-time purchases and are convenient options for free trials of new services and subscriptions you want to test.

Alternatively, you can generate virtual credit cards designed to be used more than once, which expire in a set number of days that you specify. This can be useful if you want to sign up for a free trial of a service and want the card to automatically expire before being charged, or if you want to share the credit with someone (e.g. a family member or an employee) for a specified period. You can also manage and cancel subscription payments with one click from the X1 app.

Rewards and referral bonuses

The point system is quite rewarding and has components unlike other cards on the market. You earn 2x points for every dollar spent on every purchase, and if you spend more than $15,000 in a year, you’re automatically upgraded to earn 3x points for every dollar spent that year. At a general redemption rate of $0.01 per point, this equates to a standard fixed redemption rate of 2%-3% (when spending more than $15,000 per year).

In addition to the package rewards, you can occasionally activate “boost” bonus categories from your application as soon as they are available. There is also a referral bonus. For each friend you refer who receives the card, you unlock 30 days of 4x points on your purchases (note that a referral bonus may trigger a taxable event). Points can then be redeemed for purchases made from major players in technology, retail, fitness and Travel.

Comparable cards

A 2% fixed cash rewards rate is competitive with the best fixed rate cards on the market, including the Wells Fargo Active Cash℠ Card and Citi® Double Cash Card (1% on purchase, 1% on payment ).

Jumping to 3x points with the X1 card after spending $15,000 in the year is somewhat reminiscent of Discover’s Unlimited Cashback Match program – which is offered on all maps Discover — in that your total annual spend can earn you even more rewards. With the Cashback Match program, you earn double the cash back you would otherwise earn, paid by Discover into your account at the end of your first year as a cardholder. With the X1 card, however, the opportunity to earn a 3x bonus point lasts beyond your first year, unlike Discover.

FAQs

How to choose a credit card?

Ultimately, the right credit card is individual for each person, their goals, and their preferences. Decide what features you’re looking for: maximized rewards, spaced out payments for a large purchase, credit, emergency credit card, or other perks. From there you can decide what type of card you are looking for. You can then use online reviews like CNET’s to further narrow down the terms that work best for you.

Is cash back better than points?

Although cash back is a more accessible concept, both cash back and points have their strengths and weaknesses. While cash back may be more universally applicable, points are often worth more in value than their cash back equivalents. Depending on your shopping preferences and credit card usage settings, you may find points or cash back rewards more valuable to you.

What is a virtual credit card?

A virtual credit card, or virtual account number, is a temporary credit card number used to make purchases online or over the phone securely. This means you don’t have to reveal your real account information, saving you from potential identity theft. The virtual account number is randomly generated and expires after a set period of time so that it cannot be hijacked in the future.

Our approach

We review the most popular cards with the best benefits. We go through the fine print so there are no surprises when you open an account. We find the key factors that make a card stand out and compare them to other top cards. This way, readers can opt for a different card with similar functionality if our choice doesn’t suit them. Our opinions are regularly checked and updated to incorporate new recommendations, as well as to reflect changes in offers and the market.

More credit card recommendations

*All information on the X1 card has been independently collected by CNET and has not been reviewed by the issuer.

Editorial content on this page is based solely on objective, independent assessments by our editors and is not influenced by advertising or partnerships. It was not supplied or commissioned by a third party. However, we may receive compensation when you click on links to products or services offered by our partners.

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Capital One Platinum Secured Credit Card: Rebuild your credit with no frills https://aadharuid.in/capital-one-platinum-secured-credit-card-rebuild-your-credit-with-no-frills/ Fri, 18 Feb 2022 16:00:00 +0000 https://aadharuid.in/capital-one-platinum-secured-credit-card-rebuild-your-credit-with-no-frills/ All things considered, few people would find the Capital One Platinum* Secured Credit Card the best option available to them. Compared to other secured credit cards – which generally require a security deposit to maintain your line of credit and are designed for those with no credit or bad credit — Capital One’s offer is […]]]>

All things considered, few people would find the Capital One Platinum* Secured Credit Card the best option available to them. Compared to other secured credit cards – which generally require a security deposit to maintain your line of credit and are designed for those with no credit or bad credit — Capital One’s offer is generally lackluster. His potential line of credit is the smallest of those on our radar at $200 to $1,000, and his buy APR (26.99% variable) is as high as we have seen. There’s no rewards program or welcome bonus, although that’s pretty typical for secured credit cards.

The biggest advantage of this Capital One credit card is the possibility of having an initial line of credit greater than your deposit. In almost all cases, secure credit cards set your credit limit to the amount of your deposit – if your deposit is $300, that’s your limit. But with this card, your initial line of credit will be $200, but your deposit could be $49, $99, or $200, depending on your application criteria. This means that it is possible to score an initial line of credit on top of your deposit amount.

Here’s what you need to know about the Capital One Platinum Secured Card, as well as some comparable cards worth considering.

In this article

Introductory offerN / A

APR26.99% (Variables)

Recommended credit Limited, Bad

Reward rateN / A

Annual fees$0

Intro Purchase APRN / A

Intro Balance Transfer APRN / A

Balance Transfer Fee $0 to this transfer APR

APR balance transfer26.99% (Variables)

Late payment fees Up to $40

Foreign transaction fees Any

APR Penalty Any

Filing and Qualifications

As with most other secured credit cards, there is no annual fee associated with the Capital One Platinum Secured Credit Card – you are only responsible for depositing $49, $99 or $200. The amount you owe for your initial deposit will be determined by your request. If you want a higher credit limit, you can deposit up to $1,000, in which case your limit will be equal to the amount you deposited.

Although some secure credit card issuers give you a pass for a firm credit check, Capital One is not one of them. They will check your credit when processing your application – as well as your income, employment status and housing payment – ​​but they offer pre-approval if you are curious to see if you qualify without committing to a full credit check. Note that even once you are approved, your account is not officially “opened” until you submit your security deposit.

Once you’re set up with this card, there’s not much you can do but use it responsibly. Try to keep your usage to 30% or less of your credit limit ($60 or less per month on a $200 credit limit), but use it at least occasionally and pay it off in full each month to avoid interest charges and start boost your credit.

Build credit with this card

Even though secured credit cards may recall debit cards due to the security deposit, secured credit cards are legitimate lines of credit from which issuers report your activity to the credit bureaus. Responsible activity on your card (light to moderate use, with full payments each month) will help you grow your credit more effectively.

outraged improve your credit score, a responsible activity can also recover your security deposit. In as little as six months, Capital One can begin automatically reviewing your account to see if you qualify for a higher line of credit or a security deposit refund (in the form of a statement credit), you allowing access to the Capital One Platinum credit card. *, from which you can continue to increase your credit and credit line.

Other advantages

Although there are no awards or login bonus, you can enjoy a few benefits with the Capital One Secured Platinum card. With flexible due dates, you can choose when you make your monthly payments. And like all the others Capital One Credit Cardsthere are no foreign transaction fees with this card. So if you’re traveling abroad, you can use this card anywhere Mastercard is accepted without paying extra. Usually, these fees amount to around 3% of the transaction.

Comparable cards

Discover it® Secure credit card

The Discover it®* secured credit card is by far one of our favorite secured credit cards. Although it offers no leverage on the initial security deposit, your line of credit range is wider from $200 to $2,500. Moreover, this secured credit card offers a pretty good rewards program and a sign-in bonus, while most secured credit cards are picky for these features. Discover our full review of the Discover it® Secured Credit Card for more details.

Chime Credit Builder Secure Visa® Credit Card

The Chime Credit Builder* Secure Visa Credit Card is another of our favorite secure cards. While this card is similar to the Capital One Secured Platinum card in that it doesn’t offer fancy benefits, it does give the cardholder the easiest access to a line of credit. With this card there is no credit check associated with the application, which can help be approved easier. Additionally, this card has no minimum or maximum deposit limit, giving you freedom over your line of credit depending on your available cash.

Capital One Platinum Credit Card

If you think you are about to qualify for a traditional credit card, you can skip the Capital One Platinum Secured Credit Card application process and apply for the Capital One Platinum Credit Card instead. This is the card you can upgrade to from the Platinum Secured Card, and it’s designed for those who have fair credit (usually a FICO score of 580 to 669). The specs and benefits are basically the same, except with this card, you won’t have to put down your money to open the account.

FAQs

What is a secured credit card?

This type of credit card usually requires an initial deposit equal to the credit limit. So, for a card with a credit limit of $500, you would need to deposit $500. Secured credit cards are always subject to late and rejected payment fees and generate interest on unpaid balances. As such, a secured credit card presents lower risk to card issuers and allows them to extend lines of credit to borrowers who do not have good credit or do not meet the credit score threshold. minimum credit.

How is my credit score calculated?

Credit scores are calculated by looking at a variety of factors related to your personal credit, including length of credit history, payment history, amounts owed, new credit, and credit mix. The exact weight of each factor depends on the score model (FICO, VantageScore or other) and your own credit history. If, for example, you have no credit history, the other factors may be weighted more heavily. (See this article for more information on credit scores.)

How long does it take to improve my credit rating?

After opening a secured credit card account, it will take approximately one to two months for the secured credit card issuer to report it to a major credit bureau, in which case it will begin to impact your credit report and your credit score. It then takes several more months before account activity is significant enough to make a difference. If you maintain a low or zero balance and manage the rest of your finances well, you could increase your score by several hundred points in a year or two, but that will depend on your particular situation. If you have a longer credit history with a number of issues, it will take longer. If you have a shorter history, each month’s activity will play a much bigger role.

Our approach

We review the most popular cards with the best benefits. We go through the fine print so there are no surprises when you open an account. We find the key factors that make a card stand out and compare them with other top cards. This way, readers can opt for a different card with similar functionality if our choice doesn’t suit them. Our opinions are regularly checked and updated to incorporate new recommendations, as well as to reflect changes in offers and the market.

*All information about the Capital One Platinum Secured Credit Card, Discover it Secured Credit Card, Chime Credit Builder Secured Card and Capital One Platinum Credit Card has been independently collected by CNET and has not been reviewed by CNET. the transmitter.

Editorial content on this page is based solely on objective, independent assessments by our editors and is not influenced by advertising or partnerships. It was not supplied or commissioned by a third party. However, we may receive compensation when you click on links to products or services offered by our partners.

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Still looking for your credit card? Here are 5 cases where a loan can be better than a credit card https://aadharuid.in/still-looking-for-your-credit-card-here-are-5-cases-where-a-loan-can-be-better-than-a-credit-card/ Fri, 18 Feb 2022 13:35:34 +0000 https://aadharuid.in/still-looking-for-your-credit-card-here-are-5-cases-where-a-loan-can-be-better-than-a-credit-card/ Dubai: Some life events require more money than we have on hand. It’s easy to grab a credit card, charge those expenses, and forget about them until it’s time to make a payment. Although sometimes more convenient, credit cards are not always the best solution. Depending on your credit rating and your needs, a personal […]]]>

Dubai: Some life events require more money than we have on hand. It’s easy to grab a credit card, charge those expenses, and forget about them until it’s time to make a payment.

Although sometimes more convenient, credit cards are not always the best solution. Depending on your credit rating and your needs, a personal loan may be the least expensive option.

If you need a long-term financing option, you can probably get a lower interest rate and possibly a higher limit with a personal loan than with a credit card.

Loans vs credit cards: what’s the difference?

The basic difference between personal loans and credit cards is that personal loans provide a lump sum of money that you repay each month until your balance reaches zero, while credit cards give you a margin of credit and a revolving balance based on your spending.

How personal loans and credit cards are similar

One similarity is that getting a loan or a credit card depends on your creditworthiness and finances. Lenders see if you are used to repaying borrowed money and if you are able to do so in the future.

They use your credit score and your debt-to-income ratio (the percentage of your monthly income that goes towards paying your monthly debt payments) to help you measure this.

How personal loans and credit cards are similar

Another similarity is that for personal loans and credit cards, the more qualified you are, the more options you have.

Also, personal loans and credit cards are mostly unsecured. You can use them to pay for almost anything you want.

Because you are not securing the loan with a property, such as a house or car, your credit will suffer if you do not make timely payments on the loan or card.

5 cases where a personal loan can be better than a credit card

Here are some cases where a personal loan can be more advantageous than a credit card.

1. Weddings

Because events like weddings and other large celebrations aren’t the types of purchases that benefit from rewards programs or the added perks offered by credit cards, you lose nothing by using a personal loan to pay for them.

You can choose the amount of the loan, according to your budget and according to the installments that you can pay each month. Personal loans also allow a longer period to pay off wedding expenses, at a lower interest rate than most credit cards.

2. Health expenditure

Whether you end up with a bill for an emergency visit or have unexpected medical expenses, unless you can pay the full balance immediately, it’s not a good idea to charge it to a credit card. credit.

However, you can often qualify for much higher amounts with a personal loan than many credit cards offer. In fact, some personal loan providers offer an exclusive loan specifically for medical expenses.

To lend

While there are a plethora of small business credit cards designed to reward business purchases, credit cards aren’t ideal for start-up capital.

3. Business start-up costs

While there are a plethora of small business credit cards designed to reward business purchases, credit cards aren’t ideal for start-up capital.

But if you need to pay your start-up costs with a personal credit card, you can usually transfer that balance to a business credit card once your business is established. This is advisable because you need to separate your personal and business transactions.

4. Debt consolidation

If you’ve incurred huge debt that includes credit card debt, you won’t be able to consolidate everything with another credit card. Even if you get a credit card that offers an introductory interest rate of 0% for balance transfers, you might not get a high enough credit limit.

Using a balance transfer to pay off credit card debt only works if you can pay it all off within the promotional period. Otherwise it’s not worth it, because credit card rates are usually very high. An alternative option for consolidating large debts is the personal loan.

5. Home improvement

While there are home improvement project credit cards that award special cash back and rebate offers for supplies and materials, many only grant these purchases at certain times of the year and charge much higher interest rates.

Home improvement-specific store cards may offer cash back and deferred interest. However, after the promotional period, the rates are very high.

Generic Personal Loan

If you’ve incurred huge debt that includes credit card debt, you won’t be able to consolidate everything with another credit card.

How do I decide if it’s better for me to use a personal loan or a credit card?

A personal loan is a good option when you:

1. Qualify for low rates. Low-rate loans can make monthly payments more affordable and reduce your principal faster.

2. You want to consolidate large debts with high interest rates. Large loan amounts and fixed payments over a few years can help you pay off your debts.

3. Need to finance a large one-time expense. Ideally, the expense will help your finances in the end, such as a home improvement project. Personal loans are not designed to be taken out frequently.

4. Can make monthly payments over the life of the loan. As with credit cards, non-repayment causes your credit score to drop.

Credit cards are a good option when you:

1. Need to finance small expenses. Credit cards are good for regular expenses that you can pay off quickly, especially if your card comes with rewards for regular purchases like groceries.

2. Can pay off your balance in full each month. Experts recommend paying off your balance in full each month so you never pay interest.

3. Qualify for a 0% promotional offer. The cheapest way to pay anything is interest free.

At the end of the line ?

Deciding when to use a personal loan versus a credit card is a bit nuanced. The amount of money you need and how quickly you can repay the money are key factors when deciding which one to use.

Although every situation is different, here is the general rule for choosing between the two options:

Stock market credit card

Deciding when to use a personal loan versus a credit card is a bit nuanced.

Personal loans are generally better for larger expenses that take longer to pay off. Credit cards are generally best for small expenses that can be paid off fairly quickly.

This is because credit cards tend to have higher interest rates than personal loans, so it can be expensive to hold a balance on a card for a long time.

Why would someone take out a personal loan instead of borrowing with a credit card? One of the main reasons is that you have fixed monthly payments, which makes budgeting easier.

If you have a good credit score and stable income, you can usually get a personal loan at a lower interest rate than a credit card.

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32% of Americans are hiding a financial secret from their partner, according to a survey https://aadharuid.in/32-of-americans-are-hiding-a-financial-secret-from-their-partner-according-to-a-survey/ Thu, 10 Feb 2022 19:19:24 +0000 https://aadharuid.in/32-of-americans-are-hiding-a-financial-secret-from-their-partner-according-to-a-survey/ A new TD Bank survey claims nearly a third of couples experience financial infidelity, such as hiding a major purchase or having secret debts. (iStock) Just in time for Valentine’s Day, TD Bank revealed how couples in serious relationships spend – and hide – their money in its seventh annual report Love and Money Survey. […]]]>

A new TD Bank survey claims nearly a third of couples experience financial infidelity, such as hiding a major purchase or having secret debts. (iStock)

Just in time for Valentine’s Day, TD Bank revealed how couples in serious relationships spend – and hide – their money in its seventh annual report Love and Money Survey.

Nearly a third of Americans (32%) are hiding a financial secret from their romantic partner, an 11% increase from last year. The most common financial secrets are a big purchase (40%), large credit card debt (18%) and a hidden bank account (13%).

Most common financial secrets hidden from a partner

It should be noted that half (50%) of partners in an unhappy relationship experience financial infidelity, compared to a third (32%) of those in a happy relationship, according to the survey. TD Bank spokeswoman Alissa Van Volkom said “when debt, financial secrets or unemployment enter a relationship, both partners need to stand firm on what matters to them.”

“The pandemic has shown that you can’t put a price on a lot of things – financial health, stability and happiness included,” Van Volkom added.

Keep reading to learn more about managing money with your partner, including how to be more transparent with your financial behavior. You can visit Credible to compare rates on a variety of financial products, so you and your partner can achieve your financial goals together.

PAYING OFF $10,000 OF CREDIT CARD DEBT WITH A PERSONAL LOAN COULD SAVE YOU THOUSANDS

How couples can become more transparent about money management

Keeping secrets in a relationship can sow guilt and embarrassment – ​​and financial infidelity is no exception. Being more honest with your spouse about your shared finances can help build trust with clear financial goals.

“Couples should regularly discuss three things: how they’re managing their budget, unexpected or upcoming expenses, and rising debt,” Van Volkom says.

Read more in the sections below for tips on how to have open conversations with your partner about financial transparency.

Discuss your budget

Although creating a shared budget might not seem like the most romantic date idea, it can help you and your partner see how you manage your income and expenses. Tracking your spending can help you identify areas where you might be overspending and find opportunities to increase your savings.

An easy way to streamline your budget is to download a finance app that automates the process. Budgeting apps can be linked to your bank accounts to give you a clear picture of your financial situation. More than half (57%) of Americans have financial apps on their smartphones, according to the TD Bank survey.

HOW TO CLEAR YOUR CREDIT CARD STATEMENTS QUICKLY

Plan for unexpected expenses

Among Americans who hide a financial secret from their partner, the most common is that they hide a large purchase (40%). For couples with shared finances, making a major purchase without your partner knowing about it can make budgeting and tracking expenses difficult.

One way to plan for unexpected expenses is to create an emergency fund that covers about three to six months of expenses. You can start your emergency fund by setting up a direct deposit of your paycheck into a high-yield savings account. You can compare savings account rates on Credible for free without affecting your credit score.

ARE BABY BOOMERS RESPONSIBLE FOR THE HOUSING SHORTAGE?

Make a plan to pay off your debts

Nearly a fifth (18%) of survey respondents with financial indiscretion are hiding secret credit card debt. This is problematic because revolving credit card debt that is carried over for a month comes with high interest rates, making it difficult to pay off.

When discussing a debt management plan with your partner, consider the following strategies for paying off credit card balances:

  • Snowball method or debt avalanche. The debt snowball method is to pay off the credit cards with the lowest balances first, while the debt avalanche strategy is to pay off the debt with the lowest interest rates first. the highest.
  • Credit card balance transfers. Applicants with very good to excellent credit may qualify for a 0% APR introductory period, which effectively allows you to pay off credit card debt without interest. You can compare balance transfer card offers from several credit card companies at once on Credible.
  • Debt consolidation loans. It is a type of unsecured personal loan used to pay off high-interest debt in fixed monthly installments at a lower rate. Interest rates on two-year personal loans are currently at historic lows, according to the Federal Reserve.

You can visit Credible to learn more about debt management and compare personal loan interest rates. This way, you and your partner can make an informed decision on how to pay off credit card debt.

MILLENNIALS AND GENERATION ZERS PLAN TO REDUCE STUDENT LOAN PAYMENTS WITH REFINANCING

Do you have a financial question, but you don’t know who to contact? Email the Credible Money Expert at moneyexpert@credible.com and your question might be answered by Credible in our Money Expert column.

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