Is Being Debt Free Worth it?

I had a great talk with Millennial Money Man yesterday and my favorite piece of advice he gave me was to “write what you’re passionate about.” It took me literally five seconds to think of the one thing I’m really passionate…

The post Is Being Debt Free Worth it? appeared first on Modern Frugality.

Source: modernfrugality.com

How to Request Debt Validation from Debt Collectors

Under the FDCPA, you have the right to “debt validation“. This means a consumer can demand that a creditor reporting information to the credit bureaus prove the account is really your responsibility and that the…

The post How to Request Debt Validation from Debt Collectors appeared first on Crediful.

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What Is the Fair Debt Collection Practices Act?

If you’re constantly getting hassled by debt collectors, you might be left feeling helpless and anxious. Maybe you’ve thought about putting an end to these relentless phone calls but didn’t know how. The Fair Debt Collection Practices Act (FDCPA) exists to protect us from unfair and abusive debt collection practices. 

In the following sections, we will discuss the FDCPA in greater detail so that you can feel better equipped to deal with debt collectors. If your situation fits the criteria, there may be something you can do about it.

What is the Fair Debt Collection Practices Act?

The Federal Debt Collection Practices Act (FDCPA) places restrictions on how third-party debt collectors act to handle situations in which they are trying to collect debts owed to another person or entity. 

This federal law limits the ways that collectors are legally allowed to make contact with those who owe. These restrictions include rules surrounding what time of day debt collectors are allowed to contact debtors as well as how many times they are allowed to contact them. 

If your rights, according to the FDCPA, have been violated, you have one year to file a lawsuit against the debt collection company as well as the individual debt collector. 

How the Fair Debt Collection Practices Act Protects You

The FDCPA was established to protect consumers from unfair debt collection practices such as being called at odd hours of the night, being harassed, and being wrongly accused of owing a debt. This federal law puts control back in your hands so that you can feel more confident about your interactions with debt collectors.

Here are some of the ways that this law protects you:

You are in charge of the communication: You have the power to place restrictions on when and how you are contacted by debt collectors. By law: 

  • Debt collectors are not allowed to contact you at inappropriate times such as early in the morning (before 8 a.m.) or late at night (after 9 p.m.).
  • You can request to not be contacted while at work.
  • You may choose to have an attorney represent you, in which case, the debt collectors would have to communicate with them. 
  • Debt collectors are not allowed to discuss your debts with family members, employers, family, neighbors or other third parties. 

If you have any specific demands for how you want the communication to flow between you and the debt collectors, you will need to form a written request. Under the FDCPA, any requests made over the phone will not be valid. For some guidance on what your letter should look like, take a look at the Consumer Financial Protection Bureau website to view some examples. 

Debt collectors can NOT harass or use abusive language/behavior towards you:  In the game of unpaid debts, things can get really ugly, really fast. No one likes to be asked to pay back money they owe over and over again, but there is a fine line between asking and harassment. It starts to become harassment once the debt collector starts to use misleading language or fear tactics in order to get you to do what they want. Some examples of this could include but are not limited to:

  • Using profanity.
  • Calling excessively and repeatedly.
  • Threats or violent language. 
  • Calling without properly identifying themselves. 

In many cases, this type of hostile behavior is indicative of a scam. The last thing you want to do is give your money to a scam debt collector. Be wary and observant of this so that you do not make this mistake. Jot down any instances where this behavior has occurred and use it to file your claim.  

Debt collectors must be honest: Debt collectors lying to you about how much you owe, what consequences you will face is something that the FDCPA does not tolerate. Debt collectors must not mislead or lie to you about:

  • How much you owe.
  • Whether or not it is past the statute of limitations.
  • Legal consequences/punishments if you do not pay. 
  • The company they are representing. 

Debt collectors are always obligated to be truthful about your debt situation, but they also have a right to say nothing at all. If you find yourself unable to get information from your debt collector, it might be in your best interest to seek out advice from a legal agency in your neighborhood.

Debt collectors have to play fair: In desperate situations, some debt collectors might resort to making threats to coerce you into paying your debts. Some examples of this type of behavior may include but are not limited to:

  • Asking you to write a postdated check to cover the debt.
  • Threatening to deposit or depositing your postdated check prior to its date. 
  • Threatening to take ownership of your assets as payment. 
  • Asking for and accepting more money than what is actually owed. 

Debt collectors are required to validate your debt: They will have to send you a validation letter to prove that you are responsible for the debt they are asking for. If you still feel like you need additional information, you may also request a verification letter. In accordance with the FDCPA, debt collectors have five days to send you a validation letter once they first make contact with you. The letter must state:

  • The amount of debt you owe.
  • The name of the creditor/entity that you owe payment to. 
  • That the collector will assume the debt is valid unless it is disputed during the allotted 30-day timeframe. 
  • That you are entitled to request additional information regarding the original creditor within 30 days of the first contact.
  • That if you choose to dispute the debt, you must submit a written request within 30 days. 

Final Thoughts

In the unfortunate circumstance that your rights are violated, you basically have two options. You can either file a complaint or sue the collection agency. Filing a complaint is pretty simple. In fact, a majority of the complaints received by the Consumer Financial Protection Bureau (CFPB) are regarding violations of the Fair Debt Collections Practices Act. 

The best thing you can do is keep a detailed record of the abusive practices to help prove your case. A lot of times, this malpractice occurs over the phone and can be hard to prove. Save evidence of all the phone calls, what time they took place, and notes about what was said. The more information you have about what happened, the better chance you have at proving your claim.

What Is the Fair Debt Collection Practices Act? is a post from Pocket Your Dollars.

Source: pocketyourdollars.com

What Are the Best Car Loans When You Have Bad Credit?

If you have bad credit and need a car loan, there are some challenges when compared to obtaining a standard car loan. However, pick your head up because there are a handful of great lenders that specifically tailor their programs to people with bad credit. We researched the landscape of lenders that can help you get a car loan even if you have a below-average credit score.

Based on our study, OneMain Financial and LightStream are two of the top lenders offering bad credit card loans. This is due to factors including loan options, requirements to qualify, and interest rates offered. Of course, we offer in-depth reviews of all the top lenders who offer bad credit car loans further down in this piece.

Apply now with our top pick: OneMain Financial

In this guide we also help you understand the factors that go into selecting the right auto lender, and how to get the best rate you can.

Most Important Factors for Bad Credit Car Loans

If you’re in the market for a bad credit car loan, there are a plethora of factors to consider and compare. Here are the main loan details we looked at in our study, and the ones you should prioritize as you select the best car loan for your needs.

  • Check your credit score. And understand what is in your credit report.
  • FICO scores under 579 is considered ‘poor’. But you may need a bad credit loan with a score as high as 669.
  • Interest rates and fees matter. These can make a huge difference in how much you pay for an auto loan each month.
  • Compare loan terms. Consider your repayment timeline and compare lenders with this in mind.
  • Getting prequalified online can help. Some lenders, including ones that made our ranking, let you get prequalified for a loan online without a hard inquiry on your credit report.
  • Watch out for loan restrictions. Some lenders impose restrictions on what car you can purchase. Keep this in mind to avoid unpleasant surprises later.

The Best Bad Credit Car Loans of 2021

The best bad credit car loans make it easy for consumers to qualify for the financing they need. The following lenders made our list due to their superior loan offerings, excellent customer service, and reputation in this industry.

Car Loan Company Best For… Get Started
onemain financial bad credit car loan Best for Flexibility Apply Now
bad credit car loan upgrade Best Personal Loan Option Apply Now
autocreditexpress logo Best Loan for Bad Credit and No Credit Apply Now
myautoloan bad credit car loan logo Best Loan Comparison Site Apply Now
capitalone logo Best Big Bank Loan for Bad Credit Apply Now
lightstream logo Best for Fast Funding Apply Now

Why Some Lenders Didn’t Make the Cut

While the lenders we are profiling are the best of the best, there are plenty of bad credit car loans that didn’t quite make the cut. We didn’t include any lenders that only offer auto loan refinancing, for example, since we know many people need a car loan in order to purchase a new or used car or truck. We also stayed away from bad credit car loans that charge outrageous fees for consumers with the lowest credit scores.

Bad Credit Auto Loan Reviews

We listed the top companies we selected in our study above, but we also aim to provide readers with more insights and details on each. The reviews below highlight the highlights of each lender that made our list, plus our take on who they might be best for.

OneMain Financial: Best for Flexibility

OneMain Financial offers personal loans and auto loans with interest rates that range from 18.00% to 35.99%. You can repay your auto loan in 24, 36, 48, or 60 months, and you can use this lender to borrow up to $20,000 for a new or used car. You can apply for your auto loan online and from the comfort of your own home, and it’s possible to get approved within a matter of minutes.

While OneMain Financial doesn’t list a minimum credit score requirement, it’s believed they will approve consumers with scores as low as 600. You should also note that auto loans from OneMain Financial come with an origination fee of up to 5% of your loan amount.

Sign Up With OneMain Financial Today

Why This Lender Made Our List: OneMain Financial offers a lot of flexibility in terms of your loan terms, including the option to repay your auto loan over five years. OneMain Financial also has pretty decent reviews from users for a bad credit lender, and they have an A+ rating with the Better Business Bureau.

Potential Downsides to Be Aware Of: OneMain Financial charges some pretty high rates for its bad credit loans, and don’t forget that you may need to pay an origination fee that is up to 5% of your loan amount. Their loans are also capped at $20,000, which means this lender won’t work for everyone.

Who It’s Best For: This lender is best for consumers with really poor credit who need auto financing but can’t get approved for a better loan.

Upgrade: Best Personal Loan Option

Upgrade is an online lender that offers personal loans with fixed interest rates, fixed monthly payments, and a fixed repayment timeline. You can borrow up to $50,000 in an unsecured loan, which means you won’t actually use the car you purchase as collateral for the loan.

You can repay the money you borrow over 36 to 60 months, which makes it possible for you to tweak your loan offer to secure a monthly payment you can afford. Upgrade has a minimum credit score requirement of 620 to qualify, although they’ll consider additional factors such as your income and employment history.

Sign Up With Upgrade Today

Why This Lender Made Our List: Upgrade lets you “check your rate” online without a hard inquiry on your credit report. This makes it easy to shop around and compare this loan offer to others without having to fill out a full loan application. Also note that Upgrade has an A+ rating with the BBB.

Potential Downsides to Be Aware Of: Upgrade charges APRs as high as 35.89% for consumers with the worst credit, and an origination fee of up to 6% of your loan amount might also apply.

Who It’s Best For: Upgrade is best for consumers with decent credit who need to borrow a larger loan amount. This loan is also best for anyone who wants an auto loan that isn’t secured by their vehicle.

AutoCreditExpress.com: Best Loan for Bad Credit and No Credit

AutoCreditExpress.com is an online platform that lets consumers with bad credit and even no credit get the financing they need. Once you fill out some basic loan information, you’ll be connected with a lender who can offer you financing as well as a dealership in your area. From there, you’ll head to the local dealership and pull the pieces of your auto loan together, including the purchase price of the car you want.

Sign Up With Autocreditexpress.com Today

Why This Lender Made Our List: AutoCreditExpress.com has an A+ rating with the Better Business Bureau. This platform also makes it possible for consumers with no credit at all to finance a car, which is a welcome relief for people who are building credit for the first time.

Potential Downsides to Be Aware Of: This website is a loan platform but they don’t offer loans directly to consumers. This means you won’t have any idea on rates and terms until you fill out an application and get connected with a lender.

Who It’s Best For: This loan is best for consumers with no credit or minimal credit history who cannot get approved for a loan elsewhere.

MyAutoLoan.com: Best Loan Comparison Site

MyAutoLoan.com is a loan comparison site that makes it easy to compare up to four auto loan offers in a matter of minutes. You can use this website to apply for a new auto loan, but you can also utilize it to consider refinancing offers for an auto loan you already have. You can also use funds from this platform to purchase a car from a dealer or from a private seller.

Sign Up With MyAutoLoan.com Today

Why This Lender Made Our List: Comparing auto loans in terms of their terms, rates, and fees is the best way to save money and wind up with the best deal. Since MyAutoLoan.com is a loan comparison site, they make it easy to shop around and compare competing offers.

Potential Downsides to Be Aware Of: Loan comparison sites connect you with other lenders who have their own loan terms and minimum requirements for approval. Make sure you know and understand all the details of loans you’re considering before you sign on the dotted line.

Who It’s Best For: MyAutoLoan.com is best for consumers who want to do all their auto loan shopping with a single website.

Capital One: Best Big Bank Loan for Bad Credit

Capital One offers online auto loan financing in conjunction with a program called Auto Navigator®. This program lets you get prequalified for an auto loan online, then work with a participating dealer to coordinate a loan for the car you want. Capital One also lets you search available vehicles at participating dealerships before you apply for financing, making it easy to figure out how much you might need to borrow ahead of time.

Sign Up With Capital One Today

Why This Lender Made Our List: Capital One offers the huge benefit of letting you get prequalified online without a hard inquiry to your credit report. Capital One is also a reputable bank with a long history, which should give borrowers some comfort. They have an A+ rating with the BBB and plenty of decent reviews from consumers.

Potential Downsides to Be Aware Of: You should be aware that Capital One auto loans only work at participating dealers, so you may be limited in terms of available cars to choose from.

Who It’s Best For: Capital One auto loans are best for consumers who find a car they want to buy at one of the participating lenders that works with this program.

LightStream: Best for Fast Funding

LightStream offers online loans for a variety of purposes, including auto financing. Their auto loans for consumers with excellent credit start at just 3.99% with autopay, and even their loans for consumers with lower credit scores only run as high as 16.79% with autopay.

You can apply for your LightStream loan online and get approved in a matter of minutes. This lender can also send your funds as soon as the same business day you apply.

A minimum credit score of 660 is required for loan approval, although other factors like your work history and income are considered.

Sign Up With LightStream Today

Why This Lender Made Our List: LightStream offers auto loans with exceptional terms, and that’s even true for consumers with less than perfect credit. You can also get your loan funded as soon as the same business day you apply, which is crucial if you need auto financing so you can get back on the road.

Potential Downsides to Be Aware Of: With a minimum credit score requirement of 660, these loans won’t work for consumers with the lowest credit scores.

Who It’s Best For: LightStream is best for people with decent credit who need to get auto loan financing as quickly as possible.

What You Need To Know When Applying For A Car Loan With Bad Credit

Interest rates and fees matter.

If you think your interest rate and loan fees won’t make a big difference in your monthly payment, think again. The reality is that rates and fees can make a huge difference in how much you pay for an auto loan each month. Consider this: A $10,000 loan with an APR of 35.89% will require you to pay $361 per month for five years. The same loan amount at 21.99% APR will only set you back $276 per month. At 9.99%, you would pay only $212 per month for five years. The bottom line: Make sure to compare auto loans for bad credit so you wind up with the lowest possible APR you can qualify for.

Take steps to improve your credit score before you apply.

It’s not always possible to wait to apply for a car loan, but you may be able to secure a lower interest rate and better loan terms if you can improve your credit score before you borrow money. The most important steps you can take to improve your score include paying all your bills early or on time, as well as paying down debt in order to decrease your credit utilization. You should also refrain from opening or closing too many credit card accounts in order to avoid new inquiries on your credit report and maintain the longest average length of your credit history possible.

Compare loan terms.

Some lenders let you borrow money for up to 84 months, while others let you repay your loan over 36 or 60 months at most. If you need to repay your loan over a longer timeline in order to secure an affordable monthly payment, make sure to compare lenders based on this factor. If you’re having trouble figuring out how much can you can afford, gauging affordability based on the monthly payments you can handle can also help in that effort.

Getting prequalified online can help.

Some lenders, including ones that made our ranking, let you get prequalified for a loan online without a hard inquiry on your credit report. This makes it considerably easier to compare rates and shop around without formally applying for an auto loan. Getting prequalified with more than one lender can also help you determine which one might offer the lowest rate without having to fill out a full loan application.

Watch out for loan restrictions.

As you compare the lenders on this list, keep in mind that not all lenders extend loans for any car you want. Some only let you finance cars with participating lenders in their network, which can drastically limit your options and make it impossible to purchase a car from a private seller. If you hope to purchase a car from someone you know or a website like craigslist.org, you may want to consider reaching out to your personal bank or a credit union you have a relationship with.

Bad credit car loans don’t have to be forever.

Finally, you should know that a car loan for bad credit doesn’t have to last forever. You may need to borrow money for a car right now regardless of the interest rate and terms you can qualify for, but it may be possible to refinance your loan into a better loan product later on. This is especially true if you focus on improving your credit score right away, and if you use your auto loan as an opportunity to prove your creditworthiness.

How to Get the Best Rate

1. Check your credit score.

Your credit score is one of the most important defining factors that dictate loan costs. Before you apply for an auto loan, it can help you check your credit score to see where you stand. Your score may not be as bad as you realize, but it could also be worse than you ever imagined. Either way, it helps to know this important information before you start shopping for an auto loan.

2. Improve your credit over time.

If your credit score needs work, you’ll want to take steps to start improving it right away. The most important steps you can take to boost your credit score include paying all your bills early or on time and paying down debt to decrease your credit utilization. Also, make sure you’re not opening or closing too many credit accounts within a short amount of time.

3. Check your credit reports.

Use the website AnnualCreditReport.com to get a free copy of your credit reports from all three credit bureaus. Once you have this information, check over your credit reports for errors. If you find false information that might be hurting your score, take the steps to have the incorrect information removed.

4. Compare loan offers from at least three lenders.

A crucial step to get the best rate involves shopping around and comparing loan offers from at least three different lenders. This is important since lenders with different criteria might offer a lower APR or better terms than others.

5. Be flexible with repayment terms.

Also consider a few different loan terms provided you can afford the monthly payment with each. Some auto lenders offer better rates for shorter terms, which can help you save money if you can afford to repay your loan over 24 or 36 months instead of 60+.

How We Chose the Best Auto Loans

The lenders on our list weren’t plucked out of thin air. In fact, the team behind this guide spent hours comparing auto lenders based on a wide range of criteria. Here’s everything we considered when comparing the best bad credit car loans of 2021:

Interest Rates and Loan Terms: Our team looked for loans that offer reasonable rates and terms for consumers with poor credit. While higher APRs are typically charged to consumers with a low credit score, we only considered lenders that offer sensible rates that don’t seem out of line for the auto loan market.

Ratings and Reviews: We gave preference to lenders who have decent reviews online, either through Consumer Affairs, Trustpilot, or another third party website. We also gave higher marks to lenders who have a positive rating with the Better Business Bureau (BBB).

Online Availability: Lenders who offer full loan details online were definitely given top priority in our ranking, and lenders who let you get prequalified online without a hard inquiry on your credit report were given the most points in this category. But since not everyone wants to apply for a loan online, we also included some lenders that let you apply over the phone.

Approval Requirements: Finally, we looked for lenders that extend credit to consumers with low credit scores in the first place. Not all lenders offer specific information on approval requirements, but we did our best to sort out lenders that only accept borrowers with good or excellent credit.

Summary: Best Bad Credit Card Loans of 2021

  • Best for Flexibility: OneMain Financial
  • Best Personal Loan Option: Upgrade
  • Best Loan for Bad Credit and No credit: AutoCreditExpress.com
  • Best Loan Comparison Site: MyAutoLoan.com
  • Best Big Bank Loan for Bad Credit: CapitalOne
  • Best for Fast Funding: LightStream

The post What Are the Best Car Loans When You Have Bad Credit? appeared first on Good Financial Cents®.

Source: goodfinancialcents.com

What Is Austerity?

What Is Austerity?

Austerity policies are nothing new. But talk about them in the news has recently escalated. In response to its ongoing debt crisis, the Greek government is preparing to implement austerity measures aimed at helping the country regain its financial footing. If you didn’t major in economics or you have no clue what austerity means, read on to find out how this fiscal program works.

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Austerity: A Definition

Trust us, austerity isn’t as complicated as it sounds. Austerity is a type of economic policy that governments use to deal with budget deficits. A country faces a deficit whenever it’s using more money than it’s earning from tax dollars.

By taking on an austerity package, a government hopes to reign in its spending, improve the status of its economy and avoid defaulting on its unpaid debt. Governments usually take on austerity measures in order to appease their creditors. In exchange, these lenders agree to bail out countries and allow them to borrow more money.

If you look up the word austere in the dictionary, you’ll see that it means severe, grave, hard, solemn and serious. Indeed, austerity is nothing to joke about.

Austerity Measures

What Is Austerity?

Austerity plans normally involve increases in different taxes, (property taxes, income taxes, etc.) budget cuts or a push to incorporate both. Government workers could lose their jobs or see their wages and benefits either decline or become stagnant. Hiking up interest rates, adding travel bans and keeping prices at a fixed level could be other strategies put in place to reduce spending.

Naturally, austerity measures typically aren’t viewed in the best light because they mean that there might be fewer government programs available to the public. Aid for veterans and low-income families, healthcare coverage and pensions are some of the benefits that normally take a hit when a country’s using an austerity package. Government services that aren’t eliminated might not be as comprehensive or as beneficial as they once were.

As you can see, in an austere environment, conditions are tighter overall. Historically, austerity has been implemented in the US during tough times including World War I, World War II and the Great Recession of 2008.

Greece’s new austerity package – which government lawmakers finally accepted in July 2015 – will feature less government funding, higher taxes and cuts to pension plans. As a result of this deal, the country was allowed to begin talks with its creditors about a third bailout.

Related Article: All About the Greek Debt Crisis

The Problems With Government Austerity 

Experts on the economy tend to go back and forth about how effective austerity can be. Some believe that instead of turning to austerity, the government should pump out more money and borrow as much as possible if an economy is on the rocks.

From a political standpoint, austerity is often controversial and results in riots and demonstrations. Anti-austerity protests erupted in Greece, where quite a few folks say that past austerity programs have only made social and economic conditions worse.

Beyond slowing down the economy, an austerity bill can cause a country to remain in its debt crisis, particularly if it’s in the midst of a recession. As fiscal austerity decreases spending, GDP can go down while unemployment goes up. Consumers can get nervous and stop spending and investing their own money.

In short, austerity policies can make life even more difficult for people who are already struggling. That’s why governments tend to turn to them as a last resort if other strategies aren’t working.

Why Austerity Might Not Be So Bad

What Is Austerity?

Notable European creditors have argued that austerity can be beneficial to a country’s long-term economic state. For instance, the International Monetary Fund (IMF) has previously reported that austerity has done more damage than anticipated. But the European Central Bank released a paper saying that austerity has been helpful, at least for some of the weaker eurozone countries.

In fact, austerity has helped strengthen the economies in European countries like Latvia and Iceland. Although Spain’s unemployment remains high, its economy is in better shape overall. Ireland has made considerable progress as well toward rebuilding its economy.

Proponents of austerity policies say that they can make investors feel more optimistic when a country is being run more responsibly. Austerity has the potential to bring a shrinking economy back to life as everyday citizens invest in the private sector instead of relying on support from the federal government.

Try out our free investment calculator. 

The US used austerity measures between 2010 and 2014. Not only were our policies harsher than those employed by the governments in the UK and other European nations, but our economy fared better than theirs.

The Takeaway

The point of austerity is to tighten the government’s belt, bring a country’s debt back down to a more manageable level and stimulate an economy that has stopped growing. Countries generally try to meet these goals by cutting spending and raising taxes.

The debate over whether austerity works continues but one common theme has emerged. Timing matters. Some critics suggest that cutting too much too quickly during a recession can be painful. When introduced more slowly, however, (or when the economy is doing very well,) austerity measures can turn things around.

Photo credit: Â©iStock.com/Eltoddo, ©iStock.com/DNY59, ©iStock.com/Peter Booth

The post What Is Austerity? appeared first on SmartAsset Blog.

Source: smartasset.com

This is the Best App to Play Solitaire for Real Money

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Chances are, you’ve played your fair share of Solitaire. And why wouldn’t you? It’s a great time-killer, it’s fun and it’s a nice little mental challenge. The only thing that could make it better? Winning money for it.

The Solitaire Cube app lets you do just that. This free app lets you play the classic card game you already know and love, plus it matches you with players in your skill level, so you can go head-to-head in tournaments where you can win real money. Plus, the games are quick — just two to five minutes each, and you can play them anywhere.

How to Win Real Money Just for Playing Solitaire on Your Phone

You might be thinking this sounds too good to be true. But here’s the thing: It’s really not. One Solitaire Cube player, Amanda, even won about $6,000 and was able to use her winnings to recarpet her house.

“When I actually started winning money and earning prizes, I was blown away,” she says.

Interested? Here’s how it works: Download the free Solitaire Cube app and create an account. Then you can play some free practice matches to get the hang of things. If you don’t already know how to play, it’s easy to learn. Then, when you’re ready, Solitaire Cube will match you with players at your same skill level. Beginners play beginners; experts play other experts. Yep, you won’t get outplayed by some Solitaire grandmaster — you’ll both have the same deck, so winning is all about skill.

The app itself is free to download, but if you want to play for money, you’ll need to deposit some money first. You can deposit as little as $2 to start, using PayPal, credit card or Apple Pay. It’s super easy. Then you can play head-to-head, in large pools and live tournaments — some of these tournaments have paid out prizes as big as $350,000. When it’s time to cash out, there’s no waiting period, like with some other apps. You can get your money almost instantly.

Solitaire Cube has an App Store rating of 4.6 out of 5 from more than 70,000 users’ rankings.

As for Skillz, the platform that hosts the game, it operates hundreds of games and has paid out more than $2 billion in prizes so far. The company has invested years into its player-matching technology, ensuring you only compete with players of the same skill level.

Win or lose, you always receive “ticketz” that you can redeem in Skillz’ Ticketz store for cash or prizes, like Amazon gift cards, a 65-inch TV — even a BMW or a Porsche. The higher stakes you play for, the more ticketz you receive.

For Solitaire players, here’s the most important part: The game is well designed, a classic Solitaire experience. To get started, just download the free app and start playing your first game immediately.

Mike Brassfield (mike@thepennyhoarder.com) is a senior writer at The Penny Hoarder. He loves him some Solitaire.

Unfortunately, you can’t play for money in the following states: Arkansas, Arizona, Connecticut, Delaware, Indiana, Louisiana, Maine, Montana, South Carolina, South Dakota or Tennessee. However, in those states, you can still play for fun with the game’s virtual currency.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

Last Chance To Signup for American Express Gold Card with $100 Airline Credit & To Select Your Airline (Feb. 3)

The American Express Gold card offers a $100 airline incidental credit each year, a benefit which is ending this year of 2021. In order to be eligible for the 2021 $100 benefit, you need to have an account open by February 3rd and have your airline selected.

Per the FAQ on bottom of this page:

For American Express Gold Card Members who opened accounts before February 4, 2021, the $100 Airline Fee Credit will no longer be available after December 31, 2021. Card Members who opened accounts on or after February 4, 2021 are not eligible for the Airline Fee Credit.

All American Express Gold Card Members who opened accounts prior to February 4, 2021 and have selected an airline for the Airline Fee Credit benefit will still be eligible to receive statement credits for eligible airline purchases made through December 31, 2021.

Sounds like even existing Gold cardholders need to have their airline selections by that date. It does default to what you used last year, so that shouldn’t be an issue for existing cardholders.

AmEx launched a new $10 monthly Uber credit which begins this month, February, as a replacement for the $100 airline incidental credit. 2021 is the one year which you can get in on both credits, but again, only those who already have the card and select an airline by February 3rd will get both benefits.

There’s a good signup bonus offer currently on the Gold card of 60,000 + $250. Hopefully if you apply now and get approved right away it’ll be possible to have your airline selected by February 3rd (see these data points).

Hat tip to Chase-ing UR points

Source: doctorofcredit.com

What is an International Credit Card?

When you have an international credit card, you can use it both in your home country and abroad. It’s not uncommon to come across businesses abroad that only accept native currency. That’s when an international credit card comes in handy. If you want to avoid the hassles of carrying cash or traveler’s checks everywhere you go, these types of credit cards are the perfect solution.

Several established hotels, restaurants and retail outlets you encounter during your travels will accept your international credit card. That card offers many of the same features as a standard version and can also be used at ATM machines. Thus, no matter where you are, you can get cash from your bank account. You can also check your account balance from an ATM, so you can keep track of your spending and make sure you’re sticking to your budget.

Credit Card Foreign Transaction Fees

A foreign credit card transaction fee is charged when you make a payment in a different country with your card. The sale also includes a fee because you’re paying in a foreign currency. Typically, foreign transaction fees are equal to 3% of the total cost of the transaction. They are also set in U.S. currency. If you purchase an item or souvenir in another nation’s currency and the total bill comes to $100, with 3% in foreign transaction fees tacked on, you pay a total of $103.

Foreign transaction fees can be charged on different types of transactions, including withdrawing money from ATM machines, reserving hotel rooms, or even booking your flights. The terms and conditions that apply to foreign transaction fees are usually included in the fine print of your international credit card’s cardholder agreement. So, make sure you review this information and are fully aware of the terms before using your card for purchases.

The International Chip and PIN

The international chip and PIN are part of a system being integrated into a number of credit cards. Many foreign merchants no longer accept standard magnetic strip credit cards, claiming they’re unsafe and outdated. The point of an international chip and pin is so that you won’t end up at an unattended kiosk unable to use the card because it requires a PIN to complete your transaction. This specifically applies to retailers in Europe.

Top 4 Brands of International Credit Cards

There are many different international credit cards, but four in particular offer better benefits and interest rates than others.

1. Capital One Venture Rewards Card

Capital One Venture Rewards Card

The Capital One Venture Rewards Card is another credit card you probably want to consider. The Capital One Rewards card also gives you a solid introductory rate and travel rewards points. It also provides you with a sign-on bonus of up to 50,000 miles or $500 in travel when you spend $3,000 in your first three months from account opening. The only downside is that this card comes with a  an annual fee after the first year.

2. Capital One Venture One Rewards Credit Card

Capital One Venture One Rewards Credit Card

If you enjoy the Capital One brand but prefer to avoid the annual fee, consider the Capital One Venture One Rewards Credit Card. The card gives you all the advantages of Capital One without an annual fee. This card also gives you major perks—you’ll get 20,000 miles if you $1,000 in the first three months.

3. Chase Sapphire Preferred Credit Card

Chase Sapphire Preferred® Card

Apply Now

on Chase’s secure website

Card Details
Intro Apr:
N/A


Ongoing Apr:
15.99% – 22.99% Variable


Balance Transfer:
15.99% – 22.99% Variable


Annual Fee:
$95


Credit Needed:
Excellent-Good

Snapshot of Card Features
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases.
  • 2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
  • With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
  • Earn 2x total points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021. Includes eligible pick-up and delivery services.

Card Details +

Lastly, the Chase Sapphire Preferred Credit Card has low introductory rates for purchases and balance transfers, though its rewards offerings are somewhat weaker by comparison. This is another card that gives you a major bang for your buck—you can earn 60,000 bonus points when you spend $4,000 in the first three months.

Do Your Due Diligence Before Traveling Abroad with Your New Cards

Even with an international means of payment, your credit card may not be accepted at all locations. Recently, a Credit.com staffer who traveled to Amsterdam tried to use his World Elite Mastercard at some locations and found that local merchants didn’t always accept a Mastercard branded card.

Before going on your trip, check either with stores or the credit card network (Mastercard, Visa, Discover or American Express)  to see if any conditions exist that might prevent your card from being accepted by foreign merchants. Alternatively, you can take a few different brands with your or have some cash or traveler’s checks on hand.

Check Your Credit

Before applying for an international credit card, it’s important to check your credit score to see what you qualify for. A low score or no score at all could get in the way of your goals of traveling with an international credit card in hand. Be sure to check your score before you apply. Most credit card companies that offer cash-back or miles require a good or even excellent score.

Checking your credit is easy and free depending on the site you use, and checking doesn’t hurt your score. You can get your free Experian credit score by visiting Credit.com. Instead of a hard inquiry, Credit.com does a soft inquiry without harming your credit score.

Using Credit.com for Your Travels

Traveling overseas with a credit card is convenient, but it can also be tricky. If you’re planning a trip abroad, it’s important to research which international credit cards will serve you best. Having a credit card that can be used anywhere in the world is a great tool to have in your pocket. But the terms and conditions of each card vary depending on several factors including your credit history, your spending habits and the places you visit.

Credit.com offers travelers just like you the opportunity to check their credit scores and apply for cards that will benefit them on their international journeys. If you’re interested in learning more about credit cards, check Credit.com

Editorial disclosure: Reviews are as determined solely by Credit.com staff. Opinions expressed here are solely those of the reviewers and aren’t reviewed or approved by any advertiser. Information presented is accurate as of the date of the review, including information on card rates, rewards and fees. Check the issuer’s website for the most current information on each card listed.

Some offers mentioned here may have expired and/or are no longer available on our site. You can view the current offers from our partners in our credit card marketplace. DISCLOSURE: Cards from our partners are mentioned here.

The post What is an International Credit Card? appeared first on Credit.com.

Source: credit.com

Tips to Consolidate Credit Card Debt

Tips to Consolidate Credit Card Debt

Editorial Note: This content is not provided by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the issuer.

If left unchecked, extensive amounts of credit card debt can cripple your finances. The good news is there are many ways to handle debt, though each requires a dedicated effort on your part. But if you can manage to consolidate credit card debt, you will reduce your burden relatively quickly. In the process, you’ll avoid the exorbitant interest rates that accompany most credit cards. Below we take a look at some of the most effective techniques you can use to make this goal a reality.

Find Out Your Credit Score

Before you can work on improving your credit and minimizing your debt, you have to know where you currently stand.

Many credit card issuers allow cardholders to see their FICO® credit score free of charge once a month, so check out if any of your cards include that free credit score. The three major credit bureaus – TransUnion, Experian and Equifax – also give out free annual credit reports. If that’s not enough, websites like Credit Karma™ and Credit Sesame provide a free look at your credit score and reports as well.

It is vital to review your credit report with a fine-tooth comb to ensure the accuracy of the information. If you find errors be sure to let the credit bureau in question know so the issue can be eradicated as soon as possible.

Zero Interest Balance Transfer Cards

Although it might seem counterintuitive to apply for another credit card to lessen your debt, a zero interest balance transfer card could really help. These cards typically include an introductory 0% balance transfer Annual Percentage Rate (APR) for six months or more. This ultimately allows you to move debt from one account to another without incurring more interest. However, once the introductory offer concludes, any leftover balances will revert to your base APR.

These offers aren’t totally free, though. Most cards also charge a balance transfer fee that’s usually between 3% and 5% of the transfer. Even with this initial payment, you will almost always still save money over leaving your debt where it stands currently.

If you want to consolidate credit card debt, here are three different balance transfer credit cards you could apply for, with varying introductory interest rates and transfer fees:

Balance Transfer Credit Cards Card Intro Balance Transfer APR Balance Transfer Fee Chase Slate 0% APR for first 15 months; then 16.49% to 25.24% Variable APR, depending on your creditworthiness No fee for first 60 days; then $5 or 5% of each transfer, whichever is greater Citi Double Cash Card 0% introductory APR for 18 months from date of first transfer when transfers are completed within 4 months from date of account opening; then 15.49% to 25.49% Variable APR, depending on your creditworthiness $5 or 3% of each transfer, whichever is greater BankAmericard® credit card 0% APR for first 15 billing cycles; then 14.49% to 24.49% Variable APR, depending on your creditworthiness No fee for first 60 days; then $10 or 3% of each transfer, whichever is greater Take Out a Personal Loan

Tips to Consolidate Credit Card Debt

The thought of taking out another loan probably doesn’t sound too appetizing to consolidate credit card debt. But a personal debt consolidation loan is one of the speediest ways to rid yourself of credit card debt. More specifically, you can use it to pay off most or all of your debt in one lump sum. That way, your payments are all merged into a single account with your lender.

The APR and length of the offered loan and the minimum credit score needed for approval are the main factors that should go into your final decision on a lender. By concentrating on these three components of the loan, you can map out what your monthly payments will be. As a result, you can more easily implement them into your financial life.

Applying for a personal consolidation loan can have a detrimental effect on your credit. Unfortunately, most institutions will run a hard credit check on you prior to approval. However, many online lenders don’t do this, which might ease your mind depending on the severity of your debt situation.

These loans are available through a wide variety of financial institutions, including banks, online lenders and credit unions. Here are a few examples of some of the most common debt consolidation lenders:

Common Debt Consolidation Lenders Banks Wells Fargo, U.S. Bank, Fifth Third Bank Online Lenders Lending Club, Prosper, Best Egg Credit Unions Navy Federal Credit Union, Unify Financial Credit Union, Affinity Federal Credit Union Auto or Home Equity Loan

If you own assets like a home or car, you can take out a lump-sum loan based on the equity you hold in them to consolidate credit card debt. This is a great way to reuse money you paid toward an existing loan to take care of your debt. When paying back your auto or home equity loan, you’ll usually pay in fixed amounts at a relatively low interest rate. Even if this rate isn’t great, it’s likely much better than any offer you’d receive from a card issuer.

Equity loans are technically a second mortgage or loan, meaning your house or car will become the loan’s collateral. That means you could lose your house or car if you cannot keep up with your equity loan payments.

Create a Budget

Tips to Consolidate Credit Card Debt

To build a budget, you first need to figure out your approximate monthly net income. Don’t forget to take into account taxes when you’re doing this.

You can then start subtracting your variable and fixed expenses that are expected for the upcoming month. This is where you will likely be able to identify where you’re overspending, whether it’s on food, entertainment or travel. Once you’ve completed this, you can begin cutting back where you need to. Then, use your surplus cash to pay off your debt one month at a time.

It shouldn’t matter if you’re dealing with substantial credit card debt or not. A monthly spending budget should always be a part of how you manage your finances. While this is likely the slowest way to eliminate debt, it’s also the most financially sound. At its core, it attempts to fix the problem without taking funding from an outside source. This should leave very little financial strife in the aftermath of paying off your debt.

Professional Debt Counseling

Perhaps since you’ve found yourself in serious debt, you feel like you want professional help getting out of it. Well the National Foundation for Credit Counseling® (NFCC®) is available for just that reason. The NFCC® has member offices all around the U.S. that are certified in helping you consolidate credit card debt.

These counselors won’t only address your current financial issues and debt. They’ll also work to create a plan that will help you avoid this situation again in the future.

Agencies that are accredited by the NFCC® will have it clearly displayed on their website or at their offices. If you’re not sure where to look, the foundation created an agency locator that’ll help you find a counselor nearby.

Borrow From Your Retirement

Taking money early from your employer-sponsored retirement account obviously isn’t ideal. That’s means borrowing from your retirement is a last-ditch alternative. But if your credit card debt has become such a handicap that it’s affecting all other facets of your life, it is a viable option to consolidate credit card debt.

Because you are technically loaning money to yourself, this will not show up on your credit report. Major tax and penalty charges await anyone who has trouble making payments on these loans though. To make matters worse, if you quit your job or are fired, you’re typically only given 60 days to finish paying it off to avoid incurring a penalty.

Tips To Consolidate Credit Card Debt

  • If you take the time to come up with a budget, don’t let it go to waste. While you might find it tough to stick to, especially if you’re trying to cut back, it is the best way to manage your money correctly. Even if a budget becomes habit, stay vigilant with where your money is being spent.
  • Although a financial advisor will cost money, he or she might be able to help you keep your finances in check while ultimately helping you plan for the future as well. However, if this isn’t an option for you financially, stay on track with your NFCC® debt counselor’s plan.
  • There are so many ways to gain access to your credit score that there’s virtually no excuse for not knowing it. It doesn’t matter if you do it through one of the top three credit bureaus, FICO® or one of your card issuers. Just remember to pay attention to those ever-important three digits as often as possible.

Editorial Note: This content is not provided by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the issuer.

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Source: smartasset.com