Get Upto $176 When You Open New Accounts with Capital One 360

Do you remember all the great deals I posted previously for opening an account with ING Direct? Back in February, they changed their name to Capital One 360. This is the first great promotion since the name change but when they mention first time customers, that includes the former ING Direct.

To celebrate Independence Day, Capital One 360 is hosting their Financial Independence Days by increasing their usual $50 new account bonus to $100 for a no fee checking account. You can also get $76 for opening a savings account which brings the total possible earning to $176. Both bonuses have fine print attached including minimum starting deposits so make sure you read the facts before opening an account. The bonuses are available from July 1, 2013 12:00 AM (EST) until July 3, 2013 11:59 PM (EST).

Current checking bogging you down? With 360 Checking, you're free to roam. It's fee-free, online and mobile checking that works around your schedule and goes where you go. It starts with:

• No hidden fees or minimums as you earn interest on your everyday money
• 38,000 fee-free Allpoint® ATMs and 2,000 Capital One® ATMs
• Free MasterCard® Debit Card for all purchases
• Mobile check deposits with CheckMateSM & one checkbook's free

I have personally had an account for over two years and love the simplicity of it. The interest rate is slightly higher than the local banks and you can deposit checks by uploading pictures. I use it mostly for savings and have a local bank for my day to day banking, but as I mentioned Capital One 360 has a higher interest rate.

Capital One 360 is FDIC insured so you can feel safe saving your money with them.

Free Checking Accounts - Do They Still Exist?

Unless you keep your money under your mattress, you probably have at least one checking account. Lately, it seems like even free* checking accounts have hidden fees or fine print that make it almost impossible to access your money without paying the bank. This is an absolutely ridiculous concept so I have decided to do some research for my readers. Remember that I am not a banker, so make sure you check the fine print at your specific financial institution before opening a new bank account.

Bankrate.com is a great site for comparing different banks. They are not affiliated with any specific bank and provide easy to read charts based on your search. When I searched checking accounts from local banks, it showed me a list that included minimum balance, monthly fees, overdraft fees, and more.

When opening an account with a new bank, the first thing you want to do is make sure they are FDIC or NCUA (credit unions) insured. This means that the money is protected. It won't protect you against a bad investment, but it will protect your funds from the bank itself in the event of theft or bankruptcy.

Possible Fees
A free checking account might have a minimum balance, debit card fee, limited check cashing, and other fees. Follow the rules and you will be fine, but one extra transaction can cost you more than your balance.

Student Accounts vs Free* Accounts
If you are still a student, your school ID might be your golden ticket to an actual free checking account. I know that the bank I used during college, and still use, was completely free with no minimum balance requirements. They would waive the regular fee once a year for overdrawing your account (accidents happen). Once I turned 26, I was notified that they automatically changed it over to a normal account.

Check with your school to see if they have a partnership with any banks. Sometimes these partnerships can save you money and allow you to use your school ID as a debit card which cut down on the amount of plastic in your wallet.

The non-student free checking account requires a minimum $100 daily balance to prevent a $5 monthly fee. Go under $100, even once, and you will be charged the $5 for the month.

One of the most popular free checking accounts is Capital One 360 (formally called ING Direct). There is no minimum balance and you earn interest. Alright, it's less than 0.2% but it's still more than zero.  Remember they are FDIC-insured so your money is safe. If you open a new checking account with Capital One 360, they're always offering promotions. Right now, you'll get $50 for opening a new account.  If you're not in a rush to open a new account, I recommend holding off because they often offer better promotions around holidays.

Another way to save money is to not order your checks from the bank. Unless your account comes with free checks, the bank is not the best deal.  Make sure you have the correct routing and account numbers for your account. Then check out the different offers from companies like Vistaprint and 4Checks to find the best deals.

Get $76 Or More When You Open an ING Direct Checking Account

I've talked about ING Direct before and I'll say it again. This bank currently offers some of the best deals. By cutting their overhead costs of actual stores, ING Direct passes their savings onto the customer. While you can't just walk into the bank, you can feel safe knowing your money is still protected by the FDIC. These promotions are for new customers only.

To celebrate the fourth of July, ING Direct is offering you financial independence with some great promotions to open a new account.

Checking Account - Get $76 for opening a new account and another $76 if you use direct deposit. That's a possible $152 total.

Refer two friends - When you refer two friends that both open new accounts, you'll get a $76 bonus. Both friends will also get their new customer promotions as well making this a win/win deal.

Kids/Teens Saving - Open up an account for a child and they'll get $17.76. Have a teen around? Teens will get $26.76 when you sign them up for a debit card.

There are also some promotions going on for investing and retirement, but those deals require large deposits to earn the reward. You can check out ING Direct if you are interested in trading.

Make sure you read all the fine print and details regarding these offers. While ING Direct is a great bank and I personally opened my account with a similar offer a few years ago, there are a few steps you need to take to make sure you get the promotional money. It's not as simple as opening the account and then withdrawing the cash.

Have You Synced Your AMEX With Social Networks?

I know it sounds funny but I never realized a credit card could actually save me money. Ever since I opened my American Express, I have been racking up some great deals.

Link > Like > Love helps you save when making specific purchases. It requires you to link your American Express card with a Facebook account. If you're worried, check out the American Express website first for their FAQs about the app.

Allowing the app permission to your information, including your friends information, and linking your Card will only be used so that American Express can provide you with an exclusive, customized list of deals within Facebook, and send statement credits to your Card account when you meet offer criteria. It will not be used for anything else. Card linking occurs on a secure American Express site. Your Card information will never be shared with Facebook.

You can also sync your Twitter account with your American Express to find even more exclusive deals. Just re-tweet the #hashtag and you're set. Complete the requirements and they basically pay part of your AMEX bill.

Remember to be safe with any credit card. A free deal today can be costly if you carry a balance and pay a high interest rate. For some great tips, check out my archived post Credit Cards: The Good, The Bad, and The Truth.

$5 Off a $5 or More Purchase at Redbox With Your American Express Card

I know it sounds funny but I never realized a credit card could actually save me money. Ever since I opened my American Express, I have been racking up some great deals.

One of the current deals is for a $5 credit on your statement when you spend $5 or more at a Redbox machine. That means that you make the rental and Amex will "pay" the bill. $5 worth of free movie rentals is a good deal.

Link > Like > Love helps you save when making specific purchases. It requires you to link your American Express card with a Facebook account. If you're worried, check out the American Express website first for their FAQs about the app.

Allowing the app permission to your information, including your friends information, and linking your Card will only be used so that American Express can provide you with an exclusive, customized list of deals within Facebook, and send statement credits to your Card account when you meet offer criteria. It will not be used for anything else. Card linking occurs on a secure American Express site. Your Card information will never be shared with Facebook.

Remember to be safe with any credit card. A free deal today can be costly if you carry a balance and pay a high interest rate. For some great tips, check out my archived post Credit Cards: The Good, The Bad, and The Truth.

Get $50 When You Open an ING Direct Checking Account

ING Direct is one of the few banks left that don't charge tons of fees. To celebrate, they are currently offering a $50 bonus when you sign-up for a new checking account. You don't have to make a minimum deposit but you will have to use your new debit card at least three times in the first 45 days. To see the $50 promotion, you might have to click the logo in the top left corner to see the slide show with current promotions. It's listed as checking.

Besides not having fees, ING Direct also offers interest on their accounts. You won't get rich from the interest but it's something that most banks don't offer on checking accounts anymore.

I personally have been using ING Direct for almost two years and I have never paid a penny in fees. Their interest rates are competitive and they offer a variety of accounts for every customer.

I did read recently about ING Direct being acquired by Capital One so I'm not sure how it will effect the bank. Most people love ING Direct but dislike Capital One so we'll all just have to see how the sale will change things.

Information Regarding Annual Credit Reports and Credit Monitoring

I've recently seen a few other bloggers posting about a site to get a free credit report and score. I felt it necessary to post about it because there are a lot of websites out there and while I'm not calling myself an expert, I want you to be informed about your options.

Many sites, with catchy commercials, will offer you a free credit report but while giving you your report they will also sign you up for their credit monitoring service which charges a large monthly fee. Trust me, I did this route once and ended up spending hours calling 800-numbers, getting transferred, being told I had to fax information, calling again, getting disconnected, etc trying to cancel before the free trial period was over.

There are three nationwide credit reporting companies: Experian, Equifax, and TransUnion in the United States and each company is required by law to provide you with a copy of your credit report every twelve months. The catch is that you must request it because just imagine how much money our government would spend tracking people down every year to provide them a credit report. The Federal Trade Commission (FTC) has set up the website, www.annualcreditreport.com to allow consumers to request their copies.

You may receive one free report from each of the three companies every twelve months. While each company reports slightly differently, I don't recommend getting all three at one time. Personally, I request one report every four months from a different company. Major issues would be similar across the board so you will catch on to problems in your report before they become problems. There's nothing worse than getting ready to make a massive purchase only to be declined for credit.

Why should I request my credit report?

Because the information in your credit report is used to evaluate your applications for credit, insurance, employment, and renting a home, you should be sure the information is accurate and up-to-date. In addition, monitoring your credit is one of the best ways to spot identity theft. Check your credit report at least once a year to correct errors and detect unauthorized activity. (Source: FTC)

Now to the topic of credit monitoring. I personally don't think it is necessary to pay for, but again I would like to repeat that I am not a credit professional. Credit card companies spend millions of dollars every year on fraudulent purchases and protecting their users to prevent those fraudulent purchases. When something is going on in your account that is considered unusual, most credit cards will suspend your account. Sometimes they will notify you and other times they will not. Most likely you will find out when your perfectly fine card gets declined. A simple call to the 800-number will fix the problem and you will be ready to continue with your shopping. If you are traveling, call the bank and let them know. Otherwise your shopping might be considered suspicious if you live in New York and your card is being swiped in California.

If a credit card company calls and says something like "Hello, I'd like to speak with John Doe regarding his credit card. Can you please verify some information?" please hang up and call the actual card company back using the 800-number. Most companies won't just call you randomly and they already know things like your phone number (they called right) and account number (they keep track because they want their money) so you shouldn't have to give it to them. If they really were trying to call you, then they understand security and won't mind that you called them back to verify the legitimacy of the call before giving personal information out.

While sightly off topic of credit reports, I would like to provide a tip that I use for credit card security. Create a spreadsheet of all the cards you keep in your wallet. Don't include the account numbers, but include the company and the 800-number. If your wallet gets lost or stolen, you will have one less thing to worry about because you will have all the numbers available. When you call, companies can pull up the card numbers on their computers through your social security number and other security questions. Therefore, having the account numbers written down isn't necessary and you won't be worried about someone finding the file. Once you create the file, email it to yourself so you can access it anywhere. Companies would rather disable an account quickly and then work with you to re-open it than lose money from fraud.

Privacy Notice: While I have linked directly to the sites, I highly recommend typing the addresses directly into your browser instead of clicking the links. This will make sure that your information is secure because some blogger widgets or browser toolbars can alter links to monetize when possible. Please read the site's disclaimer for more information.

Free Entry to Museums from Bank of America

Just show your Bank of America credit or debit card and you'll gain free entry to museums around the country. The first weekend of every month, Bank of America sponsors Museums on Us to allow you to enter over 150 museums. Check out the website for details and participating locations.

American Express Card Holders Can Get Five Free Songs on iTunes

Use your American Express card to purchase five songs on iTunes and your card will automatically be refunded. This promotion is posted on the official American Express Facebook page which will direct you to the iTunes promotion enrollment page. You must pre-enroll your card to be eligible for this deal.

There have been similar deals circulating the internet before that I haven't posted because I could not verify them. This deal is posted on their official Facebook so I feel confident that it is a legitimate promotion.

Shared Reading: Secrets of a Former Credit Card Thief

Have you ever wondered how easy it is for your personal information to be stolen? Yahoo! Finance has interviewed a former credit card thief who talks about how easy it was to steal your numbers and ways to protect yourself.

You said you bought credit card data online. Tell me about that.

DeFilippi: Every credit card has magnetic stripe on the back with data on it. There are people out there who hack into computers where that data is being stored. There are also people like waitresses and waiters with handheld skimmers who steal the data that way. Then they sell the data online. I'd pay $10 to $50 for the information from one card. Then I'd use an encoder to put that data on a fake card, go into a store and purchase stuff.

It's really scary to think about how easy someone can steal your information. The image below (click for full size view) shows what a skimmer might look like on a Redbox machine. Use this image to try and keep an eye out. If you do notice something funny, inform the business owner so they can get it removed.

What's your No. 1 tip on how consumers can protect themselves?

DeFilippi: You've probably heard this before, but the most important thing really is to watch your accounts. And I don't mean just checking your statement once a month. If you're only checking your statement once a month, someone can start using your card at the beginning of the billing cycle, and they can do a lot of damage before you catch it. You're talking thousands of dollars, and it will be a lot harder to catch them and dispute it. I use Mint.com, which is a free aggregation service that allows you to put all your accounts on there and monitor everything at once. I check that every day. It's also a good idea to check your credit report at least twice a year to make sure no one has stolen your identity.

Legally you can get a free credit report once a year from each of the three providers. I recommend speeding it out to get your reports three times instead of getting three reports at one time. While you might see advertisements on TV for websites like freecreditreport.com, the only government sponsored site is annualcreditreport.com.

Read the entire interview at Yahoo! Finance.

Free Flip UltraHD Camera

Get a free Flip UltraHD video camera when you open a 1stBank free checking account with a minimum deposit of $50. From what I can tell, this is a free account.  There is no minimum balance and no service fees.  I couldn't find other common bank fees such as overdraft but those fees wouldn't be listed until This deal is only valid in some states so you must be a resident of Colorado, Arizona, or Riverside County, CA.  I've never used 1stBank but they are FDIC insured which means they have met the government's standards for banking and your money is insured for up to $250,000.

The fine print:

Offer valid only for customers residing in Colorado, Arizona, or Riverside County, CA. Flip UltraHD™ video camera offer valid for Free Checking accounts opened. Limit one gift award per household, per 24 month period. Limit one gift per account. FirstBank employees are not eligible to receive the gift. Minimum opening deposit of $50 required to receive the gift. We reserve the right to substitute the gift offered at any time. Limited time offer. The gift is redeemable online and a redemption code will be given within one week of account opening. The cost of the gift is considered interest and is subject to IRS and other tax reporting. The cost of the gift is considered a bonus that can be revoked if the account is closed within six months of opening. We reserve the right to limit the amount of deposit.

Upcoming Deals at Old Navy for Card Holders

If you have a credit card for Old Navy, I recommend looking into their upcoming deals. They just posted on their Facebook page:

Cardholder Holiday Perk Alert! Take $10 off your purchase of $50 or more 12/12–12/18. There’s still plenty of time to shop, and plenty of great styles to buy. Click for details.
http://www.facebook.com/event.php?eid=126887690706140&index=1

Each week holds a new promotion for card holders and you must have the printed coupon along with your Old Navy card. From now until December 18, 2010 you can get $10 off a purchase of $50 or more. From December 19-25, 2010 you will get $5 off a purchase of $25 or more. Finally, from December 26, 2010 until January 2, 2011 you will ear triple points on every dollar you spend.

Shared Reading: The Smart Way to Use Credit Cards

Credit cards can be your best friend or your worst enemy. You can easy spend more than you have, but you can also save tons of money using credit cards. The Consumerist has compiled a list of tips for smart usage of plastic.  I have added to their list with a few additional tips.

Pay off the balance in full each month. “In the seven years of my credit history, I have never carried a balance or paid a fee of any kind,” Tervooren says.

You might not realize it, but that interest can really add up fast. I also pay off my credit cards every month, but I wanted to show you this screenshot from my Target Redcard's website. If I were to only make the minimum payment each month, I would pay more in interest than for the actual purchase.

Take advantage of rewards. “I am very strategic with the cards that I apply for. I use them to build large sums of frequent flyer miles that I use to exchange for otherwise very expensive trips,” says Tervooren. Next summer, he’s flying to Africa and Europe to climb two of the world’s tallest mountains as well as run a marathon. He’s already booked his tickets—at no cost to him.

It's very important to choose your cards wisely. Don't sign up for too many cards because the more in your wallet, the more likely you are to overspend. I recommend getting one or two major cards and make them different brands. For example, have a Visa and a Mastercard.

Limit the number of store cards you have. If you sign up for store credit, make sure it's a store that really gives you a benefit for using their cards. Target gives card holders 5% off every purchase, Macys often gives card holders an additional 15% and Kohls is known for their 15-30% discounts. Having too many cards in your wallet will just encourage you to overspend.

Pay attention to interest rates. These discounts are great, but only if you stick to the rule about paying off your cards in full every month. As you can see from the Target screenshot above, interest rates can quickly cancel out the discounts offered. That is exactly what stores want when they offer you that deal.

Pay attention to annual fees. Often times the cards with higher rewards also carry annual fees. Consider how much you spend during the year and the actual value of a reward. If you are paying an annual fee of $100 but only earn a single one-way airline ticket during the year, was the fee worth it? Does your employer reimburse you for required purchases and you'll easily charge enough for rewards to cover an entire vacation? That $100 fee now seems worth it.

Build your credit now. By being smart with credit cards while you're young, you will find more doors opening for you in the future. When you go to make a large purchase such as a car or house, you'll find brokers will be able to offer you much better interest rates. Some car companies advertise that 0% financing but that's only for people with the perfect credit scores.

5% Off All Target Purchases with REDcard

Warning: The following promotion is only for people that have good self control and pay off their credit cards every month.

This week, Target is beginning their new credit card promotion. Now, you will get 5% off every purchase made on your REDcard. 5% will add up quickly if you shop at Target often, but so will your interest. Pay off your card in full, and you will benefit from this discount without paying any interest.

The interest rate on a Target REDcard is at least 19% which will cost you more than that 5% discount you get for using the card. Target is hoping that people will go over board.

As with any credit card, be smart, be careful, and don't go overboard.

Free Credit Score Report From MyFico.com

Have you checked your credit score recently? MyFico.com is currently providing free credit scores with no catch. Just use the promo code FICOFAN and the $15 fee will be waived. The site has two different features, so make sure you scroll down to the one time purchase so that you are not enrolled in a program with a monthly fee. This is a really great deal because your annual free credit report doesn't show you the number, just the information.

I've heard a few people mention that the code is moody and doesn't work everytime, but just click "apply code" a few times and it should work. I was able to get it on my first try.

Just a side note about credit reports: As many of you know, you can get a free credit report once a year from annualcreditreport.com which is run by the government. Other sites, with catchy commercials, will give you your free credit report but will also sign you up for credit monitoring which charges you a monthly fee.

Privacy Notice: While I have linked directly to both sites, I highly recommend typing the addresses directly into your browser instead of clicking the links. This will make sure that your information is secure because some blogger widgets or browser toolbars can alter links to monetize when possible. Please read the site's disclaimer for more information.

Source: Slick Deals

$5 at Dunkin Donuts When You Use American Express

It seems that Dunkin Donuts has teamed up with American Express to offer card holders a new promotion.  For every four purchases you make at Dunkin Donuts using your American Express, you will get a $5 gift card.  You must enroll your American Express card in the Blue Savings Program Dining.

I'm not sure if this promotion alone would get me to open an American Express account, but if you already hold a card I recommend enrolling.

Credit Cards: The Good, The Bad, and The Truth

This is a long post, but it is full of information that I hope you will find useful.

You might not realize this, but credit cards can be a deal finders best friend if you are smart about it. Between discounts and rewards, the smart consumer can really take a lot away from using credit cards. What does being smart require? There are three major things that smart shoppers need to remember:

1. Don't spend money you don't have
2. Always read the fine print
3. Pay your card off every month and don't carry a balance

I got my first credit card when I turned 18 and I still hear my mother's voice in the back of my head reminding me to be careful. As an 18 year old, the credit card had a modest limit of $500. You can't get in trouble with a $500 limit. Right? Wrong. I was under a misconception that the limit meant the card would be declined if I was already carrying a balance of $500. I bought textbooks for my classes and some basic items for my dorm room. When my bill came in the mail, I learned that they will still allow you to charge purchases after you hit your limit. They just add lots of fees for going over the limit.

Since that a faithful day years ago, I am proud to say I have never paid another penny in fees to a credit card company. I am going to share with you my limited knowledge about credit cards. Please note that I am not a financial person and do not claim to be an expert at the ins and outs of credit card companies. I am also not going to recommend a specific card for you. Everyone is different and you need to decide if you need a credit card and what to get.

The largest piece of advice I can give you regarding credit cards is the first point I mentioned above "Don’t spend money you don’t have." That is the number one reason people get into trouble. It’s nice to know you can spend the money if some kind of emergency comes up, but it doesn’t mean you have to spend it on junk.

This does not mean ignore the other rules because if you don’t get in trouble from over spending, you might get in trouble from that fine print. Companies hide many things in the fine print including fees, their ability to change your rates with or without your knowledge and more. When you accept a credit card, you have agreed to everything in that tiny font if you read it or not.

Finally, try to pay your card off every month and don’t carry a balance. When you carry a balance over, all you are doing is costing yourself more money in the long run. If you pay your entire balance you won’t have to worry about interest or debt. You will be able to sit back, relax, and enjoy the rewards that some cards offer.


Store cards – Why should I get individual cards?

Many stores offer additional discounts to card holders. These stores hope that in giving you a discount on your purchase, you will spend more money and then hold a balance over. 10% off a new television that takes you months to pay off on a credit card with a 25% interest rate will end up costing you, not saving you any money in the long term.

If you are smart about it, these cards can save you money. Make sure you pay off your bill on time and in full to avoid late fees and interest. Then those deals will work in your favor and save you money. Also check your monthly statements because some stores will mail you additional coupons with your bill.

Remember that the more cards you have in your wallet, the bigger change of overspending so don’t open up an account at every store that offers one. Just open one or two for the stores you spend the most at.


Credit Report – Do I really need to sign up for something to see my report?

We’ve all seen the commercials on television with catchy music telling you to go check out your free credit report. Have you seen the fine print? Most of those sites advertised on television require you to sign up for a free trial of a credit monitoring program which is difficult (but not impossible) to cancel before they start charging you a large monthly fee. I do not know enough about credit monitoring programs to know if they are worth the money, but there is another option to obtain a free copy of your credit report.

Legally, you are allowed to request a free credit report once a year from each of the three major credit reporting companies in the United States. The Federal Trade Commission (FTC) created https://www.annualcreditreport.com to allow consumers easier access to the three companies. I recommend spacing out when you request the reports. Since you are allowed one a year for each company, you can easily check your credit report every four months from a different company. The free credit report does not include your credit score, but it does include all the information used to calculate the number.

Requesting a free credit report will allow you to watch for mistakes and fraud. It’s better to find out now, than when you found your dream house and can’t get approved for a mortgage. If you see something wrong in report, you have the right to contact the company that provided the report in attempts to correct the information. They will of course look at any mistakes you point out and work to verify and correct the information if necessary.


Introduction Offers

Make sure you read ALL the fine print when applying for a credit card. That 4% interest rate that you think you are getting might only be valid for an introduction period before jumping to 22%.

Be extremely careful when you see the tables set up at sporting events, malls, and airports. They might be giving you a free tshirt, umbrella, or other “gift” for applying but you are normally in too much of a rush to read the actual offer and the card might not be the best for you.


Annual fees - Are they worth it?

Some cards that you will find offer you better reward programs for an annual fee. You need to decide if these rewards are worth the cost of the annual fee since that is what you are truly paying for. You are not paying to use the card itself; you are paying for the reward. When you compare the “free” card to the annual fee card from the same airline, the difference is in the amount of miles you earn per dollar spent. For someone that is spending enough to earn multiple roundtrip tickets each year and likes to travel, that fee is worth it. If you are only spending enough money to earn one or two tickets per year, are you really getting anything for free when you shell out the fee?


Rewards

There are cards out there that will offer you rewards for using the cards. Airlines, gas companies, hotels, and more offer cards that will earn you free things. I have noticed that many cards with rewards often have higher interest rates compared to similar cards without rewards.

When selecting a card because of its reward, you really need to decide if it’s something you will use. Do you travel enough to want free hotel rooms or would you prefer something that allows you free electronics? Some cards offer a cash “rebate” on purchases while others might offer points that can be spent in a catalog on merchandise.


Fees and Interest Rates

Once again, reading the fine print is extremely important when selecting a credit card. Every card will have fees and interest rates but they will differ depending on many variables. You might be charged a fee for calling the 800-number or for requesting an additional copy of your monthly statement. You want to make sure you are aware of the fees imposed on your credit card before you are charged.

Interest rates are difficult for me to explain here because there are so many different types of interest. My advice is avoid interest all together by paying in full every month. If you never carry a balance over, it won’t really matter what the interest rate is on your card. Since most people find it difficult to pay their cards off every month, it is important to find a card with a low interest rate. Also check how the interest is calculated. Does the card have a fixed or floating rate? A floating rate means that the company can change your rate with little or no notice, however a fixed rate might be slightly higher. Another thing to check is how often interest is calculated. Some cards will compound interest daily on the new balance while others might only add interest monthly on the original balance.

I hope that you have found this information helpful. If you have any tips for the Making Cents of It community, please feel free to share in the comment section. Links to information is great but if you post spam links such as referral links or sites that require paid memberships for information, your comment will be deleted. Thank you for understanding and helping to make Making Cents of It a great community.