Low Monthly Payment on Credit Card Debt.

If you’ve ever been behind one month on your credit card payments, you’ve realized
how hard it is to catch up. Because fees are added on top of each other, each month
you are behind makes it harder and harder to ever catch up. If this has happened to you,
your monthly payment has probably skyrocketed.

In order to get a low monthly payment on credit card debt, you need to find a way to catch up on your credit card bills. This could be almost impossible unless you have an instant additional source of income. If this is not the case for you, you will have to find another way.

It’s quite possible that you could catch up on your bills if you simply had a lower monthly payment. One possible way of getting this is to sign up for a debt management plan through credit counseling. While this type of plan isn’t for everyone, a credit counselor can provide you the information you need in order to make an informed decision on the matter.

Another benefit that you may receive through a debt management plan is having your credit card accounts set as current. By having the fees waived and the account reset, you will be able to immediately start paying the monthly payments at their new level. Paying the new low monthly payment on credit card debt can help you to start to accrue positive credit.

Whatever the solution to your bad credit card debt, know that it has to be one that will work for you in the long haul. Find a plan or strategy that will not only get you a low monthly payment, but see your debts paid off. Once you have no more credit card debt, you will be free to spend your income as you choose.

Author: Ronnica Rothe , http://www.articlesbase.com

Credit and your Kids.

Credit Care for Teens and Young Adults


It's great when parents are willing to help out with their kids' futures, but make sure that you understand all of the implications before you help your kids build credit.

A credit card is a great way to start building credit as a teen or young adult, and many young people receive their first credit card from their parents. Before you hand your teen
a credit card as they head off to the mall, think about whether it's helping (or possibly hurting) their future credit.

Authorized Users vs. Co-Applicants

Often, a teen's first introduction to credit is becoming an authorized user on a parent's credit card. This is an easy way to get a credit card, but it's not usually the best way. In almost every case, an authorized user does not build positive credit of their own, but if the primary cardholders goes into default, it can be reflected on the authorized user's credit report.
In other words, your child does not stand to benefit from your good credit but could suffer
if you fall into hard times.

Placing your child on your account as a co-applicant can have even more harmful consequences. If your credit card company requests a signature from the child, they are likely adding the child as a co-applicant. Think long an hard before you take that step. Being a co-applicant means that they are equally liable for any debts that you incur. If your child is an authorized user and you run up $25,000 in debt that you can't pay, your child could get an ugly stain on his or her credit. However, if you list your child as a co-applicant, the credit card company can expect them to pay back that money, and even take him or her to court!

Make sure you look at all the factors. Even if your credit is great and you have no intention of racking up debt, is there a possibility that a lost job, medical bills, or another disaster could change your circumstances? If there is virtually no chance of that happening, your child might be fine being a co-applicant or an authorized user. However, even if you won't hurt your child's credit, you won't help them much either. The best course of action is to get a card in the child's name tied to his or her social security number only. If you've been thinking of adding your child to one of your cards, call you credit card company and ask to open a separate account in your child's name instead. Since you already have an open account with the company, and are bringing them additional business, you will usually get a better rate for your kid than he or
she could get on his/her own.

Why Start Early at All?

Even if he or she has to open a starter credit card offer with a high interest rate, it will still help your child's credit in the long run, as long as you teach him or her to act responsibly.
The easiest way to help them build good credit is to have them use their card for one use,
paying his cell phone bill or buying gas, and pay it off each month. When your kids get an early start on credit, they'll have a huge advantage over their peers. If you show them how to use their new card responsibly, the credit card company will reward them in the future with higher credit lines and lower rates, so they can gradually use their credit card for more "adult" things, like furniture for their first apartment or a post-graduation vacation.

Don't let common mistakes like adding your child as an authorized user or a co-applicant harm his or her future credit. Imagine what a shock it would be if she attempted to buy a car or pass a credit check for an apartment, and she found out that the credit card she'd been making payments to for years isn't on her credit report. And furthermore, imagine the phone call you'd get shortly after asking for a loan! Your kids' credit can have a negative financial impact on you as well, so start early! Stay safe.

Sincerely,

James
http://www.CC-YES.com
Author: James Marshall

Pet Rewards Visa Credit Card

Pet lovers now have a new way to show off their pet and earn pet related rewards.
Introducing the Bank of America Pet Rewards™ Platinum Plus Visa® Credit Card,
a credit card designed specifically for pet owners.

Bank Of America, US’s largest debit and credit card issuer as well as US’s largest commercial bank, merged with MBNA back in June 2005 to become what it is today. With advanced privacy policies and regulations, it is not only one of the most trusted companies, it is very profitable as well. Bank of America’s current goal to become the number one bank in the domestic market is already well on it’s way to succeeding. With the introduction of the Pet Rewards™ card,
you can now become a part of America’s largest company, plus save money, gain convenience and show off your pet!

Do you have a kitty or mutt that you just love to bits? With just a few clicks of your mouse,
you can customize your Bank Of America’s Pet Rewards™ Visa card with your favorite picture of your pet. Don’t have a pet but love animals? There are also 3 default pictures to choose
from when you sign up!

Need more bonuses? Earn while you spend! With every dollar that you charge on your Pet Rewards™ Visa card, you earn 1 point. Add that to the 500 points you receive just for signing up and start redeeming for your rewards! It’s easy now that you can start redeeming after only 750 points. For eligible pet related purchase you can earn 2 points for every dollar you spend. That includes veterinary clinics, pet food retailers, farm and feed stores, and neighborhood
pet specialty stores. The points can be used towards veterinary services, pet food discount certificates and shelter donations.

It gets better, with the Bank Of America’s Pet Rewards™ credit card, there is no need to
pay an annual fee, 0% fixed APR (annual percentage rate) for the first 6 months,
and no fees for balance transfers. Reap in even more benefits with this Platinum card
such as online banking services, Total Security Protection®, travel assistance, auto rental insurance…the list goes on!

Once you’ve received your credit card, you can apply for additional cards at no extra charge, order convenience cheques for free, as well as be covered for purchase replacements and purchase guards. It is just what you need for your peace of mind in today’s hectic world.

So what are you waiting for? Apply today and be ready to show off your loved one
while earning rewards! It is also available in Spanish, Braille, and large print.

By Jeremy Biberdorf , Article Source: http://www.Free-Articles-Zone.com

Cash Back Business Credit Cards.

A typical small business needs to watch every penny. To last in the competitive business world, you need to maximize profits and just as importantly, reduce expenses. Many businesses don’t realize that they could easily be saving a percentage of their purchases with a cash back business credit card. Instead of letting bank fees eat away at your profits, your credit card can
work for you.

How can the banks offer cash back for your business?

For decades the banks have been charging high interest rates and eating away at business profits. Businesses would just sit back, hoping the bank would eventually give them
a better interest rate. Times are changing though. Today the credit card market is very competitive. A business can now choose between credit cards from nearly any
financial institution.

As the banks compete, they are offering credit cards with better perks and rewards.
If your business needs to travel a lot, you can get airline points. For a business that drives a lot, there are gas station rebate credit cards. Many larger stores even issue their own credit cards with special in store rebates. These credit cards lacked flexibility though.
So as competition in the credit card market increased, credit card issuers resorted to
offering cash back credit cards.

The banks can afford this to attain a new customer. The cash back is balanced out by interest charges and other fees. So for most people the cash back is just a savings on their bank fees. Plus these same customers might require additional financial services. The banks definitely aren’t losing much money by offering cash back.

Are cash back business credit cards just a scam?

No they are not a scam. These credit cards actually do give your business money back.
You just need to be familiar with any restrictions. Most cash back business credit cards
have a maximum annual cash back limit. Other cards have different cash back terms
based on the credit card purchase type. For example, you might get a different cash back percentage at a gas station compared to a grocery store or office supply store.
Some cash back credit cards also have a minimum spending before points can be redeemed.

To get the most out of a cash back credit card, you need to be disciplined. It is very tempting to put extra purchases on your credit card to get more cash back. Only use this strategy
if you are able to pay off the card every month. Otherwise you would just be accumulating more interest charges. If you can pay the card off every month, try to use your credit card more instead of cash or checks.

For some businesses the cash back maximum can also be a problem. A business with high operating expenses could easily reach the annual cash back limit in a very short time.
If this is the case, consider getting a different credit card to use once the limit has been reached. Some newer cash back business credit cards offer no limit on the amount of cash back
you can earn.

Before applying just read the terms and conditions of the credit card. Many cash back credit cards use phrases like ‘up to 5% cash back’. This usually means that you can only get that
cash back percentage for just one type of purchase or there is some other catch.

Despite certain card restrictions, a cash back credit card is a very good idea for your business. Your business could be saving thousands of dollars on your business expenses. Just take the time to compare different cash back business credit card offers before you apply.

By Jeremy Biberdorf , http://www.articleworld.net

How 0% APR or Low Interest Credit Cards

Can Save You Money on Interest Rate Expenses

Compare Low Interest Credit CardsMany times, credit card companies offer a low "introductory" rate that will give you a low interest rate on a credit card for only a short period of time, usually 6 months. After that time the low introductory rate goes up to a higher fixed interest rate. The low introductory interest rates sometimes appear really good, but might actually cost you in the end. If you are planning to pay off the balance before the introductory rate expires, then credit cards with a low introductory APR or low interest rate can actually save you money.

However, if you plan to own a credit card for an extended period of time then a fixed low interest rate credit card might be right for you. With a fixed low APR credit card you know what your interest rate will be.
See also low interest credit cards to compare low APR credit card offers side by side.

By Ben Woolsey

Soupstrapping

A soup peddling entrepreneur uses a credit card to finance his career switch

On correspondence, David Ansel includes two lines beneath his name—“Principal Soup Maker” and “Soup Is Love.” Soup has been good to 33-year-old Ansel, even though he lives in temperate Austin, Texas. Gross sales of the Soup Peddler, the homemade-soup business he started in 2002 after quitting his job in software development, have been growing by 10% a year and are slated to reach $1 million by 2008. The soup is delivered chilled and is reheated at home. His original delivery method, a yellow bike made up of bike scraps, bumper stickers, and a trailer holding a blue cooler emblazoned with a “Soup Peddler” logo, has been retired. Now Ansel’s customers order from an online menu a week ahead and arrange for pickup at the Austin store or for home delivery. These customers are still called “Soupies,” but in the fall of 2005, Ansel added non-soup items such as homemade desserts, quiches, potpies, and sandwiches to the bill of fare. He’s the author of The Soup Peddler’s Slow & Difficult Soups: Recipes and Reveries, published in 2005, and is currently at work on a second book, on entrepreneurship.


David AnselTell us a bit about why and how you started the Soup Peddler.
It started out as a desperation thing in 2002 after I decided to leave the corporate world. I had seen a woman selling gorditas, which are similar to tortillas, from a cart on the street in Mexico. That inspired me. So I went to work. I had never taken a cooking class or worked in a restaurant before getting into the food business—a business I knew had a very high failure rate, by the way!

Did anyone advise you on financing?
I spoke with other restaurateurs. Since food businesses are among the highest risk of all entrepreneurial businesses, they are generally financed by partnerships because banks won’t touch them. I didn’t want to be beholden to other people in the community; my family doesn’t have a lot of money so I didn’t want to borrow from them; and I couldn’t get financing from a bank, so I turned to a credit card.

And I wanted to pull myself up by my own bootstraps. I used one card, a First USA card that had a $29,000 spending limit and a 3.99% introductory rate if you used the convenience checks they offered. The checks work like a cash advance, but you don’t get charged the high interest rate of a typical cash advance. Frankly, I couldn’t believe how good the terms were. I talked to 20 different people to find out what the catch was. There wasn’t one—except that if you missed a payment the interest rate jumped up to 18%. Of course, you have to pay off the inexpensive money first. I borrowed $20,000 and went to work. I never missed a payment.

How long did it take to pay back the credit card loan?
It took about a year and a half to pay back the money. By my second week in business I had 21 regular customers, all from word of mouth, so I felt I was onto something. I delivered the soup in reusable plastic buckets, by bicycle. It was great advertising. After three years in business, I expanded beyond soup to other menu items. Today, soup is less than half of my $800,000 in gross sales.

What percentage of your start-up financing was on the credit card?
Pretty much 100%. I used the $20,000 in courtesy checks until I had some cash flow, which provided the leverage to get the rest of the funds for the Soup Peddler. Pretty soon the two enormous pots I had bought at a used restaurant supply shop were no longer sufficient for making the soup. Neither was my home stove or the refrigerator I used. So I made a deal with a local Thai restaurant to cook at midnight, after they’d shut down for the night. By the end of my first season I had a base of 48 regular customers—people who ordered pretty much every week. That was enough to get me going.

In 2003 I took out a bank loan of $60,000 for my next expansion. I had a decent track record at that point. I found a hip loan officer who had a passion for the creative class and for entrepreneurs. I signed a lease on a 900-square-foot kitchen that allowed me to grow the business to what it is today.

Was there a downside to credit card financing?
I got my credit card loan for 3.99%. That’s a far cry better than any bank will ever give a young entrepreneur. The payback is flexible. I can’t see any downside in my example. I didn’t really need to borrow all that much money, though. It’d be more complicated if I had used several cards and was juggling them.

What role do credit cards play in your business today? Do you use them for ongoing expenses, such as supplies, advertising, computers, and payroll?
I use credit cards pretty extensively to run my business. It can be pretty rough for the Soup Peddler during the summer months—it’s very hot in Austin then, and soup doesn’t sell so well—so I load up on credit cards. I like the Advanta MasterCard. It has great rates and balance-transfer deals such as 0% financing for the first year. Hopefully I won’t have to use credit cards this summer, though, as I’ve expanded into other menu items.

So why pick soup as the basis of the business? Was it the warm, fuzzy connotation?
I picked it because I thought it would have a good shelf life and it would fit into the reusable buckets I wanted to use for the business—the soup was delivered in the buckets. Now I use food-grade plastic bags. It also seemed like an extendable theme. Obviously, as I went on, I realized the power that soup has in people’s lives; it has been a nice, meaningful, artistic vehicle for that reason.

By Karen Bruno

You (the plastic version)

Customized credit cards sweep the market

Gone are the days of credit cards illustrated with boring blocky bank logos that haven't changed since the Cold War. A do-it-yourself credit card design movement is rising to let consumers create cards that match their personalities.

customized credit cardPersonalized plastic is varied and evolving.

The basics
In its simplest form, customization involves choosing a stock image, usually from a selection that arrives with a new card. Capital One, for one, offers stock images that range in theme from the patriotic to the geographic to the artistic (think lighthouses and sandy beaches). There are even cartoon characters such as Dilbert and Daffy Duck.

Capital One also raises awareness for charities with cards bearing the insignia of the March of Dimes, the Juvenile Diabetes Research Foundation and others. Its CureSearch Platinum Debit Card, for example, features a colorful drawing of a cat by a young, three-time cancer survivor, Jacquelyn Wheeler. Each time a cardholder chooses a credit transaction, Capital One makes a donation to the CureSearch National Childhood Cancer Foundation.

Lifestyle choices
Some companies go to even more-detailed customization with offerings designed to provide individuality while promoting a product, a lifestyle, or both.

Owners of the determinedly quirky Mini Cooper car, for example, can flash a customized Visa card graced with a photo of the owner's model and color. The card is from Mini Financial Services, a division of BMW Financial Services North America. The card includes a motoring rewards program, with points for virtually all purchases, and two points for motoring-related purchases such as gas and tolls. The card even earns cash back on the purchase of an actual Mini.

Got a pet? Bank of America, in conjunction with Hill's Pet Nutrition, has launched the PetRewards Visa, which earns points on Hill's pet food, gives discounts on trips to participating veterinarians and clinics, and provides donations to animal shelters. Best of all, you can put your pet's image on the front of the card via a digital uploading system.

Click, copy, customize your card
Thanks to the ease of digital images -- just click, copy, and send -- credit card personalization goes well beyond Miniss and malamutes: More card-issuing companies allow customers to choose photo images for their cards -- within limits. Pornographic images and those that violate copyright regulations are not welcome.

Many companies issue personalized credit cards. Why? Because customers said they wanted it, says Capital One spokeswoman Pam Girardo. Customization benefits customers because, she says, "customers love to 'badge' themselves; people love others to know they're into something like dogs or golf. So customers get to demonstrate their personality and passions while doing something they do every day -- use their credit cards. It gives the credit card a personality. A generic piece of plastic becomes interesting."

More than images
Customized cards aren't just for adults. Teens who log onto the PAYjr Visa Buxx Custom Card site can access features such as an online chore and allowance tracking system provide a financial education. In addition, teens may personalize the image on the fronts of their cards -- and maybe win an Apple MacBook or iPod for creating a hot design in a peer-judged contest.

Some personalizations are a bit more edgy than a happy pet or a favorite vacation pic. For instance, CreditCovers sells a variety of skins consumers can stick on their cards. The company is not affiliated with any card issuer, so there's more freedom for self-expression. CreditCovers are card-sized stickers , with cut-out slots in the middle, so the number and name aren't covered. Designs include the swirly, wavy abstract "Water Series 17 1/2" by Southern California artist Todd Arthur Wolf, based on his watercolor painting, and one called "Mizz Lady Pink" -- a woman's face represented graphically in pink tones -- by L.A. artist Food One.
At around $4.99 each, they're an inexpensive way to display your unique vibe.

By Stephen Milioti

Capital One Platinum Prestige Credit Card Offers a Low APR That Doesn't Expire

Low APR credit card offers with 0% APR introductory rates are attractive to many people, but those attractive rates are only available for a limited time. After the cardholder has the plastic for an introductory period (often six to 12 months), the APR then jumps to a higher level. Those consumers who are tired of attractive intro APRs that vanish before they are finished paying off their credit card debt will appreciate the Capital One Platinum Prestige credit card.

Compare Low Interest Credit CardsFor the many consumers who revolve their credit card balance from month to month, the Capital One Platinum Prestige Card lets them know exactly what to expect: a low ongoing variable interest rate on purchases without the sudden spike in APR so common to low interest credit cards. And, the Capital One Platinum Prestige card doesn't just provide a low APR for purchases -- it also offers a low variable rate on balance transfers without any balance transfer fees. Those features make the Platinum Prestige card a great low interest credit card and a great balance transfer credit card.

But those aren't the only features that make Platinum Prestige such an excellent credit card. The card also provides zero fraud liability for lost or stolen cards, extended warranties on purchases, the ability to choose your own card design, and convenient online account servicing. And, all this comes without having to pay an annual fee. Plus, you don't have to worry about exceeding your limit on large purchases, thanks to the Platinum Prestige's credit limit -- which goes up to $20,000.

As a MasterCard, the Capital One Platinum Prestige credit card has some added benefits. Cardholders get collision, damage, and loss insurance on rental cars, 24-hour roadside assistance, emergency replacement card or cash advance if thier credit card is lost or stolen, and $100,000 worldwide automatic travel accident insurance.

Knowing all that, the next time you hear "What's in Your Wallet?" you might want to consider the Capital One Platinum Prestige Card.

By Jeremy Simon

Buying a Car With Plastic

In the market for a new or used car? As unlikely as it sounds, using a low interest credit card to fund some or all of that car purchase could potentially be a less expensive alternative to the auto financing offered by the dealer. Discussed below are many of the advantages and potential pitfalls to this option.

Compare Low Interest Credit CardsAside from potential savings, there could be added benefits to buying a car with your credit card. To start with, since a credit card loan is unsecured, your car would not be in danger of repossession down the road if you hit a rough patch financially and had trouble paying back the debt (although your credit would still be damaged).

With financing from the bank, monthly payments are fixed for the loan term. But using a credit card to buy a car means you have the option of simply paying the minimum monthly payment, if need be, whereas not paying the bank loan in full could result in a hit to your credit history.

Furthermore, paying for a car with your low interest credit card means no waiting for loan approval. You can skip discussing loan rates and loan approvals with the car salesman, since your credit line can be used like cash whenever you decide it is time to make an auto purchase. Although, it's a good idea to provide notice to your card issuer that you plan to make such a large transaction.

Using a credit line, preferably a check, to make the car purchase gives you more bargaining power, since to the dealer's eyes, you are buying the car with your own money. As a result, the cardholder doesn't have to be concerned with the secondary transaction of securing the loan. Many car dealers may balk at having to pay the interchange cost of accepting a credit card for payment, so inquire beforehand if this is an issue. And, make sure you have an adequate credit line available to cover the amount of the transaction (some or all) you wish to finance.

Still, you need to cautious when buying a car with plastic. Among the dangers, your low interest rate is probably for a limited time and could jump once this introductory period ends. Be aware also whether the low interest rate applies to new purchases or cash advances as opposed to simply balance transfers from other credit cards.

Although using a balance transfer credit card before the intro period on your initial credit card is an option, you still need to be aware of these pitfalls.

Separately, being late with a single payment on your credit card or even on your electric or cable bill (due to universal default) could result in a much higher default APR.

Still, if you remain careful, buying a car with your low interest credit card could be a feasible and potentially less expensive alternative to traditional auto financing options, especially if you have the ability to aggressively pay down the balance within a year or two.

By Jeremy Simon

Card Options For Those Under 18

With credit cards making life easier for millions of Americans, younger consumers may wonder when they too can get in on the action. However, consumers will generally have to wait until they are at least 18 until they can apply for a credit cards.

Compare Prepaid Credit CardsStill, there are options for younger people who want to enjoy the convenience of plastic before they turn 18.

Younger consumers can be added to an adult's credit card account as an authorized user. For an existing credit card account, the adult will need to contact the issuer and request to have an authorized user added. Alternately, young consumers may be able to get someone older to co-sign a credit card application for them.

The danger in both cases is that they could hurt the credit of someone who did them a favor if any delinquencies occur. Additionally, any financial missteps by the authorized credit card user could harm the young person's credit score. So they will need to be careful.

Meanwhile, some prepaid cards may allow individuals who are under 18 to apply with certain provisions. Both the Prepaid Visa RushCard and the Baby Phat Prepaid Visa RushCard, for example, have a minimum age requirement of just 13. Applicants who are between 13 and 16 years of age will need parental consent to apply.

Consumers should read the "terms and conditions" for various prepaid cards to see if they extend the opportunity to apply to those younger than 18.

If age 18 is just around the corner, consumers may want to wait and apply for a student credit card or a credit card for those with bad credit. Such a card will help them build a solid credit history through conscientious use and prompt payment of their card statements.

By Jeremy Simon

Too Soon To Ditch Cash

It seems like there are more places that accept credit cards each day. Even low-cost purchases once considered too small to be put on plastic can often be charged at places like fast food eateries and drugstores.

Compare Low Interest Credit CardsMeanwhile, technology is making it easier to pay without cash ever coming into the picture. Recent developments allows consumers to perform transactions with contactless credit cards that don't even need to be swiped. And, talk of payment information being loaded onto cell phones suggests there are incredible opportunities for what lies ahead.

All this momentum seems to indicate consumers can leave the house with a credit card and never have to even worry about putting cash in their wallets or swinging by an ATM. But some experts suggest that it is too early for consumers to ditch greenbacks altogether.

While much of the world appears to be going cashless, cash-only businesses do still exist. Patrons of these establishments will want to make sure they have some paper money on hand when they decide to purchase goods or services.

Certain businesses may feel cash is an easier way to carry out transaction. At businesses such as parking garages, cash is still king.

And, people that make their money through tips still appreciate hard currency. After all, consumers can't exactly swipe their credit card across a tip jar.

The coffee shop or local bar may be two of the places where tip jars commonly appear. Anyone who has ever left their credit card at a bar after a few too many drinks may also decide to pay for their beverages in cash.

People may choose to tip using cash outside the doors of traditional businesses as well. A street musician's hat and those familiar Salvation Army kettles are not likely to be filled with credit card receipts anytime soon.

A MasterCard poll found that almost half of those surveyed admitted to carrying less cash than they did five years before. That survey also revealed that some 60% of respondents only had $20 or less with them.

Even though cash may sometimes feel like the less modern way to do business, consumers who only carry a credit card may still wish they had another payment option from time to time.

By Jeremy Simon

Buying Your Lottery Tickets With a Credit Card?

Although consumers are seemingly able to charge an ever-increasing number of items to their plastic, there are certain purchases that may not be available with a credit card. Depending on what state you live in, a lottery ticket may be among the purchases you cannot make with credit cards.

Compare Low Interest Credit CardsIn some states, including Texas, Pennsylvania, and Wisconsin, the sale of lottery tickets on a credit card is specifically prohibited by law. As with online or casino gambling, the concern seems to be that consumers who buy lotto tickets on credit could wager more than they can afford to spend.

For states that do allow lottery tickets to be purchased with a credit card, retailers pay interchange fees on these lotto transactions as they do when any item is paid for on credit.

For example, in a February 2007 report from the New York Association of Convenience Stores, retailers noted that a portion of the lottery commission earned on lotto ticket sales is reduced by the processing fees they are charged by Visa and MasterCard when a customer pays with a credit card.

In cases where states prohibit credit cards for lottery ticket purchases, debit cards may be used. Since a debit card functions in a similar way to a check or cash, retailers may be willing to accept them for lotto ticket purchases.

However, since debit cards and credit cards often look very similar, certain lotto retailers may decide that would rather not accept plastic in any form in order to avoid any problems.

Even if your state does allow the use of credit cards for lottery ticket purchases, that doesn't mean problems never arise. For example, consider the case of an Oregon woman who bought a $1 million dollar winning lottery ticket in 2005 using the credit card of a deceased woman.

Consumers that want to buy their lottery tickets with a credit card will need to check the laws of their state along with any prohibitions listed in their cardmember agreements.

By Jeremy Simon

What's in your wallet, Anthony Adams?

The founder of CreditCovers.com shows some skins

Anthony Adams vowed that he was done with credit cards after holding a part-time telemarketing job selling Visa Platinum cards. "I saw how aggressive the card companies were," he says. Yet in February 2006, he founded a company that sells covers or "skins" that you can stick over the front of a credit card, covering a prosaic bank logo with, for example, a hollow-eyed buzzard, its wings spread over a banner saying "Bloodsucking Financial Institution" and with the words "Debt" and "Ruin" appearing on two Doric temples in the background. "It's kind of ironic I started a company that makes covers for credit cards since I'm not a big believer in them," Adams says.

In the past few months, Adams, 26, has sold thousands of the $4.99 covers, which come in nine designs. Right now he sells mostly through his Web site, CreditCovers.com, but several major banks have expressed an interest in marketing the covers. Upcoming skins will feature artwork by young designers such as Todd Francis, the skateboard artist (the buzzard is his design), and Matthew Langille, who designs T-shirts for Marc Jacobs. One skin turns a credit card into a white iPod-like object.

Adams, who has a master's degree in urban planning from the University of Wisconsin at Madison, quit a job as executive director of a nonprofit to start CreditCovers. "We've taken that real estate away from the banks," he says gleefully. He sees a use for the skins beyond rebellion and fashion. "If Spider-Man 3 wants to promote its product by putting its message on a credit card cover, then we've created another advertising channel," he says.

Adams is never without the cards below, which are, of course, skinned.

Type of card: Discover Card
Issuer: Discover
Year obtained: 2000
Business or personal: Personal
Interest rates over its life: "Around 10%"
Fees: None
Credit limit: $10,000. "They've offered to increase it, which I don't want."
Perks: "Cash back on business purchases."
Customer service: "Automated phone tree. I recently had to change my address, and it was surprisingly accurate for a computer automated system."
Current usage: "I use it a lot, but I never carry a balance."
The bottom line: "I don't see the point of going into debt, so I pay off the balance before incurring any charges."

Type of card: MasterCard Debit Card, with PayPal
Issuer: JP Morgan Chase
Year obtained: 2006
Business or personal: Personal
Interest rates over its life: None
Fees: None
Credit limit: N/A
Perks: "I get 5.05% interest through the option they have to invest your bank balance in a money-market fund, which is an amazing rate. I also get a great exchange rate when I travel."
Customer service: "PayPal is great."
Current usage: "Weekly."
The bottom line: "It allows me to access my PayPal account balance at any ATM, or to use it anywhere MasterCard is accepted. It's awesome."

Type of card: MasterCard Check Card
Issuer: Associated Bank
Year obtained: 2006
Business or personal: One of each
Interest rates over its life: None
Fees: None
Credit limit: N/A
Perks: "Great customer service."
Customer service: "I can call a real rep at Associated anytime, and they'll help me out. Calling to have money transferred between my accounts takes about 60 seconds."
Current usage: Frequent
The bottom line: "They don't give me free checks like my credit union did, but they are professional and I trust their ability to execute."

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Do 0% APR Credit Cards Really Save You Money?

We get them in our mailboxes nearly every day it seems. You know, those credit card offers for 0% APR. What started around 15 years ago as a gimmick promotion, has turned into the most common type of credit card offer. But, do these 0% APR credit cards actually save you much money on your balances? Let's see if we can find the answers.

The best way to save yourself a lot of money with your credit cards each month is to pay off the balance. You'll avoid any finance charges and interest expenses, etc. While this is the ideal way of handling your finances, for many people, they will carry a balance on their credit cards.

For those who do carry a monthly balance, let's take a look at your typical 0% APR credit card offer. I say typical because they can all have differences of course, but the most common will offer a 0% APR on balance transfers for the first 6 months. After that, the interest will go to a certain percentage. In our example, we will use 20%.

Let's say you currently have a $2,000 balance on a Visa card that has a 15% APR. Your interest expense for one full year would be $300. $2,000 X .15 = $300. Now, here is what a 0% APR credit card would look like.
$2000 X 0 (first 6 months) = 0
$2000 X .20 (after introductory rate) = $200

The cost is actually $400, but because it is only 6 months of interest charges you divide it by 2.

So, you have saved yourself $100 in interest charges by switching over to the 0% APR credit card. You could save even more if you carry an even higher balance.

There are some other important credit issues to keep in mind with these offers though.

-If the interest rates of the new 0% APR credit card are substantially higher after the introductory period than your current credit card, then this may not be a good deal for you.

-This offer may be a great short term credit solution, but keep in mind, paying off your monthly account balance should be your ultimate goal.

-Opening new credit card accounts and switching balances numerous times can have a negative effect on your credit report. Be sure to keep this in mind. Lenders look at this activity and raise red flags over the changes all the time.

0% APR credit cards are here to stay. They may be your answer to avoiding additional interest charges and paying off your balance. Just be sure to take your time and read over any credit card offer carefully. You want to be sure it will be beneficial to your financial future for years to come.

What Is a 0 APR Credit Card?

It’s like the search for the Holy Grail. Before the days of King Arthur and the round table of Camelot, people have hunted for this holy relic and its promise of eternal life. Just the same, consumers the world over have searched for their lives for the holy grail of the credit card world: a card with 0 annual percentage rates, or no interest at all. Such a card could provide eternal shopping, and a life without fear of debt.

The reality of the situation, however, may be slightly different. Don’t get us wrong. A card with 0 annual percentage rate is a beautiful thing. It allows you to carry debt on the card without fear of swamping your finances with interest payments. On the other hand, the 0 annual percentage rate is not a free ride to spend to excess. After all, most of these 0 annual percentage rate, or 0 APR cards, have a time limit. The carriage, so to speak, eventually turns back into the pumpkin, and then you could be left holding the bag with a maxed out credit card and a new APR of, say, 22 percent.

So, what exactly is a 0 APR credit card? Is it such a great deal anymore, or should you not chase after the holy grail? It depends, as with any great decision. If you plan to be making a lot of heavy purchases soon—such as to decorate a new house—you may want to find yourself a 0 APR card, but do so with the understanding that you must be able to pay that baby off when the 0 annual percentage rate special wears off.

Don’t just jump at any 0 annual percentage rate card, though. There are always other considerations to make when you’re on the market for a new credit card. For instance, how widely is the new card going to be accepted. If you travel a lot, this is important to know. MasterCard and Visa are the two most widely accepted brands of cards on the market, with 17 million and 16.2 million locations respectively.

And of course, every credit card now has a rewards program. What sort of rewards programs would suit you best—one that involves cash back and discounts on every purchase, or would you rather earn points toward travel and other prizes? Plus, no matter what the rewards are, compare the ratio of earned points to dollars spent. The higher this ration, the better the rewards program is, no matter what the rewards are.

Lastly, check the fees on these 0 APR cards. Is there an annual fee, a cash transfer fee, late fees, stiff penalties, etc.? These also could help you make up your mind about the card.

Joshua Shapiro recommends Find Credit Cards for finding a 0 APR credit card. See http://www.findcreditcards.org/type/0-apr.php for more information.

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