City Professional Credit Card Review

If you are looking for a new credit card for your business, then you should check out the Citi Professional Credit Card. This card has no annual fee, and no interest on balance transfers for one year. The Citi Professional Credit Card has a variable 12.49 percent interest rate on any credit card transactions. Unfortunately there is no period with a low introductory interest rate. The good news is the benefits of the Citi Professional Credit Card when it comes to rewards are very good though. These include enough "ThankYou Points" credited to your account after your first transaction for a $100 gift card.

The total points you receive after your first transaction is 10,000 "ThankYou Points". This means that every "ThankYou Point" is worth one cent. This is good news for you if your business credit card is used for purchasing a lot of meals, gas, or car rentals. Why would that be beneficial to Citi Professional Credit Card Owners? It is because for each of these categories you receive three "ThankYou Points" for every dollar spent. This means in effect that you are earning 3 percent back on ever transaction you make with the Citi Professional Credit Card in these categories. Not a bad benefit for spending money just like you would with cash. Of course if you spent cash you wouldn't get the three percent back like you do with the City Professional Credit Card.

The "ThankYou Points" are not the only benefit of signing up for a City Professional Credit Card for your business. You will also get managment tools online that will help you categorize your expenses for when tax time comes around. This allows you to categorize and total the expenses in each category. The City Professional Credit Card also includes several benefits for you when you travel. You get travel accident insurance, travel and emergency insurance and Auto Rental insurance when using your Citi Professional Credit Card.

For those of you that are looking to save money on prescriptions, as a City Professional Credit Card holder you will also receive a prescription discount card. This discount card will give you anywhere from ten to sixty percent off your prescription costs at participating retailers.

Some things you should be aware of with the Citi Professional Credit Card though is that if you fail to make your payments on time, the 0% APR for your balance transfers may not remain in effect as a result of the late payment. There is also a fee that the City Professional Credit Card holder will have to pay for their initial balance transfer. As always, reward credit cards are only a good investment if you pay off the balance of credit card transactions on a monthly basis. Otherwise the interest you pay on balances outweighs the benefits of the rewards.

Overall as a business owner, the Citi Professional Credit Card is a card that is worth applying for. Why not go ahead and enjoy that free $100 gift card after your first purchase, 3% back on purchases in many categories, and other benefits when paying expenses with your Citi Professional Credit Card instead of carrying cash.

Source: Associated Content

Budget Your Way Out of Credit Card Debt

One of the fastest growing problems among the younger generation is credit card debt. More and more individuals are living paycheck-to-paycheck and they have to bridge the gaps in their finances by using high interest credit cards. Credit card debt is certainly not fun and it's something that can quickly ruin any hopes and dreams of becoming financial secure in your financial future. Getting out of that debt isn't easy, though. It requires meticulous planning and the ability to both create and maintain a strict budget.

When most people hear the word budget, they get scared. A budget shouldn't be a scary thing, though. Every financially responsible individual operates on some sort of financial plan in order to make sure that their finances are going the right places. In a way, a budget lets you tell your money where to go instead of, at the end of the month, wondering where it went. Here are some tips on how to effectively set up a budget to get out of credit card debt.

Write it all down

Before anything else can be done, you have to understand exactly where you're at. Lay out all of your credit card debts on a table and get the facts. Even though the numbers might be ugly and scary, it is best if you understand exactly how much money needs to be paid off. Note the total balances, the minimum payment amounts, the interest rates, and the due dates on each credit card. Once you have this information, you can move forward with a proactive budget plan.

What can you eliminate?

There are two ways to increase the amount of money that you can give towards credit card payments. Either you can make more money or you can spend less money. Since it's unlikely that your employer is going to double your salary anytime soon, the more realistic option is to eliminate some expenses. Take a look at where your money is going and try to cut the fat on some things. Are you spending an exorbitant amount of money on entertainment items? If there are things in your current spending that can be eliminated, it's your job to find them and make sure that they are discontinued.

Every dollar accounted for

Take a few hours at the beginning of each month and pull up a spread sheet. On that sheet, make note of how much money is coming in and each expense you plan on funding. This includes food, healthcare, your other bills, and any school tuition. Basically, you need to account for every dollar that is going to be spent. Then, you can have a much better understanding of where the money is going. From there, it will be easy to chart out a plan of action that will enable you to pay off those credit cards sooner.

Be Realistic

You won't pay all of your credit cards off overnight or in a lump sum. Plan how much money you can possibly pay to the debts each month. Figure out how many months it will take to get the debts taken care of on your charted plan. From there, you can make any necessary changes to your budget to make paying off the debts as easy as possible.

Source: Associated Content

Choosing the Right Credit Card
How to Avoid Credit Card Debt

Credit Card Consolidation Does It Work?

Having too much too much on your plate, too much to do or too many commitments always keeps you involved and it is obvious that it may lead you to a situation that is unmanagable, tiring and out of control. Further leading to loose your focus and making you inefficient in everything you are doing.

If you are carrying so many credit cards then it is a sure sign of danger you will face in the future. Market research tells that a standard person is having approx seven credit cards and he makes use all of the cards frequently and blindly. Therefore this can be unmanageable for you.

Take an example: if you make use of all the credit card too frequently, it will become very difficult for you to keep record of all the expenditure done by you by using each one of those cards. You should know how frequently you use each card their rate of interest and the annual fee, if any, that is being paid by you.

There is a famous phrase in English, it's never too late but you may soon realize that now it is actually too late. Reason, some people are careless and dont think of keeping a record of all their credit cards, their expenditure and variable interest rate if any one is used. And all of a sudden they come to know that they are into a significant debt. After some time such people are being surprised with serious debt issues, without warning.

It's a truth that we all know and agree that credit cards are the most precious and valuable devices that helps us in urgent situations. Though, you should be a little careful while using your credit card and should know the chances of getting into trouble (debt problem).

When you go under a significant debt in credit cards, this issue can be resolved by paying it all off. Credit card consolidation is one of the solutions to your problem. Consolidation means accumulating all the debts into one single credit card with a low rate of interest.

You can get more benefits when you consolidate all the cards and pay off all of your credit card liabilities. From the time when you start paying off your credit card debt with a single card, you can without any trouble make a record of your payment bills. This way of payment will definitely diminish your confusion that comes along with multiple bills.

Before initiating consolidation of credit cards debts you should check the rate of interest and compare. If the interest rates are exactly the same then there is no need to consolidate credit cards debts. If you are able to find a credit card with lower rate of interest then accumulate your all other credit card debts into this.

When your in debt troble you need to turn to the professionals for the right advise.That's why we've setup a credit card blog so you can read more about credit card consolidation and credit card debts.

You might want to read this?
Five Unnecessary Credit Card Fees You Can Avoid
5 Tips To Prevent Credit Card Late Fees
Do You Need to Cancel Your Credit Card?

The Benefits of Using a Prepaid Debit Card

Prepaid debit cards are great for people with lower incomes, don't have a bank account, or want to send money to a loved one.

First you need to know what a prepaid debit card is before you can know what the benefits of having one are. A prepaid debit card is a reloadable card that you can add money to in a variety of ways.

You can use it in addition to or to replace an ATM/debit card. Some people referred to as the 'unbanked' (no bank account) usually have lower incomes or be getting paid 'under the table'. They may not make enough money to consider opening a bank account or may not be able to produce the necessary documentation to get an account. Sometimes, these individuals (especially immigrants) are targeted by criminals because they tend to carry large amounts of cash on them. You also don't need to have a credit check or ChexSystems check to secure a card. A prepaid debit card allows these people to be able to have more versatility with their spending that they wouldn't normally be able to do unless they had a bank account. Simple things like shopping online, paying bills online or over the phone, reserving a hotel, renting a car, etc. are made easier and safer when you can use plastic to pay.

If you do have a bank account, you may like to have a prepaid debit card as an alternative if you have a habit of having your account overdrawn whether it was an oversight on your part or an erroneous charge of a merchant. Prepaid debit cards may have a small fee of $1.50 or sometimes no fee for an overdraft. Also, as opposed to a bank, a prepaid card will decline some charges if there aren't enough available funds. Many times banks will pay even though you have no funds in your account and slap you with high overdraft fees for each charge that comes through. So if you have one bounced check and you had four other point of sale purchases from your debit card at the same time of the bounced check, you'll get hit with NSF charges for the check and the four purchases. One small oversight can cost you big time eating up funds you may need to pay your rent or the like. When you're living paycheck to paycheck, many times it isn't worth the high probability of incurring exorbitant overdraft charges.

This type of card is beneficial too if you're on a limited budget and need to do a better job of managing your spending. Most of the time, when you are using a credit or debit card, we are easily tempted to overspend which can lead us into debt problems or being in a bind until next payday. The amount of personal debt many people are carrying is staggering. Only a few savvy consumers seem to be able to avoid this trap of the masses. When you give yourself a certain amount to spend on a prepaid debit card, you only have a certain amount of funds you allot yourself and when that is gone, that's it. It's like using cash to pay for your needs, but safer than carrying cash.

Another good reason for prepaid debit cards is if you have teenagers, a college student, or other financially dependent loved one and need to get money to them quickly, inexpensively, and easily. This can teach them good financial management practices to benefit them when they are on their own. It's a better option than having them constantly asking for your card.

One downside to these cards is that some tend to have high fees depending on your transaction habits. I've researched several different cards and have found one to have reasonable fees and excellent features perfect for my spending habits. This card is called Ready Debit. You can easily load cash onto this card from Paypal, direct deposit, Green Dot MoneyPak store locations, or a checking or savings account. You can pay for purchases anywhere Visa is accepted as well as withdraw cash from any ATM with a Visa, Interlink, or NYCE logo. You can also sign for point of sale purchases and your transaction is guaranteed to be covered by Visa's Zero Liability policy.

It's important to know that you do have options when it comes to how you manage your money. I think prepaid debit cards can become more popular as people become more aware of the benefits.

Source: Associated Content

Further reading:
Wired Plastic Prepaid Debit Card Review
Prepaid Traveler's Card Vs. Debit Card