Frequent flier miles and other loyalty points will always be devalued over time, but cash back is the ultimate credit card reward. Like most other banks, Citi offers a variety of cards that return different levels of cash back based on various merchant categories.  Beyond the standard cash back returned, Citi offers additional rewards for purchases made with merchants in their Citi Bonus Cash Center.

How This Program Works

There are four Citi cash back credit cards that are eligible to participate in the Citi Bonus Cash Center; Citi Dividend World MasterCard – their best credit card offer for rewards – ,  the AT&T Universal Savings Platinum Card, and both the Citi Dividend Platinum Select Visa and MasterCard for College Students. Cardholders must then log into their Citi credit card account online before visiting the Citi Cash Bonus Center. There, card holders can link to hundreds of popular merchants. While each individual online store offers a different percentage of cash back, the average is 5%. Once a purchase is made, the cash back earned will be visible online within 45 days, however it will take one to three statement cycles before that amount is credited to your account. The bonus cash back earned is in addition to the cash back rewards normally earned from purchases. (more…)

With the price of gasoline remaining higher than anyone really wants to pay, it can be tempting to get a gas station credit card which offers rewards just for filling up your gas tank.  Why wouldn’t you want to save some money for buying gas – something you have to buy anyway?  The theory is good – being rewarded for a purchase you can’t avoid making – but there are some problems with gas credit cards that make them less useful than you might think. Consequently, even the best credit cards tied to specific gas stations pale in comparison to mediocre credit card offers.

Here is why you shouldn’t get a gas station credit card:

Most gas station credit cards will only offer good rewards when you get gas at a specific gas station.  This means every time you have to fill up at a different gas station, you lose your chance to get rewards or get much lower rewards for the purchase. Additionally, a large number of gas station credit cards are not part of the Visa or MasterCard network and can only be used at the gas station you got the card. This makes them utterly useless if you need a general purpose credit card. (more…)

Like nearly all credit cards issued by retailers, the Sears card offers extremely limited benefits and zero convenience while charging obscenely high interest rates. While this card may be easier to get than traditional credit cards for consumers with a mediocre or limited credit profile, any consumer that can qualify for a general credit card offer will find better value, lower rates, and better rewards.

The Sears card is about as far from a low interest credit card as there is. All approved consumers are charged a 25.24% variable interest rate which can and will increase when the Prime Rate increases. This is 10 full percentage points above the current national average and more than twice what is charged by many major credit card companies. (more…)

One year ago, consumers were still finding it difficult to gain approval for credit cards. Today, credit card companies are rolling out the red carpet, offering applicants sky high sign up bonus, ultra long 0% interest rates, and just about everything else under the sun.  Finding a good credit card is no longer an issue, and the deals available right now may be the best credit card offers in history.

Here is what you can expect to find in the most popular credit card categories:

Cash Back Credit Cards:  For a while it looked like cash back credit cards were on the decline. Today, credit card companies are not only offering better cash back rates, they’re also offering $100 sign up bonuses. In most instances, all that needs to be done to obtain these bonuses is spend about $500 within three months of signing up. This is usually not a problem and is as good a reason as any to ditch your old credit card.

Rewards Credit Cards:  General rewards cards are offering even greater sign up bonuses than cash back credit cards. Recently, some companies have floated $500 sign up bonuses. Incentives like these have never been bigger. And, while only two cards have come out with $500 sign up bonuses, close to a dozen airline credit cards offer bonus worth $250 or more. (more…)

Credit card use and debt usually go hand-in-hand. For the responsible few who understand how to use credit cards wisely, they can actually be a great tool in your personal finance arsenal. When you learn how to use your credit card responsibly and in conjunction with other smart money management strategies, you can avoid debt while establishing a strong history of good credit. The following tips can help you save money using your credit card while reducing costs associated with credit card use.

Read the fine print

Most consumers get in trouble with credit cards by not knowing or understanding the terms and conditions to which they agree to be bound. You should know exactly how charges, payments and other transactions will be handled before you apply for a credit card. There may be annual fees, maintenance fees and fees to set up the account which will be applied before you even receive the card in the mail. Look for these fees before applying to avoid starting out with a balance.

Also know the interest rates and how much it will cost to use your account. This includes late fees, cash advance fees and balance transfer fees. While all three of these credit card fees can be avoided, if you want to save money with a balance transfer credit card you will likely have to pay a fee. The best credit card offers for these transactions charge low fees of 3%, so look for this before applying. (more…)