First, be honest with yourself. Would you consider your company to be a small or medium-sized business, or are you more in the corporate realm? Corporations and very large businesses generally opt for a Corporate Credit Card. Most of the time the corporate cards have no interest rates because the balance is always paid in full each month. Plus, most issuers charge a monthly or yearly membership/service fee. If you are a small or medium-sized company, you want to apply for a Business Credit Card.

The advantages of a Business Credit Card are many. Because the Federal credit card rules are more relaxed for the business customer, card issuers are very promotional in trying to claim your spending volume. The rewards can be many and varied. A business credit card is quite a bit easier to obtain than going to the bank and trying to get a line of credit. The line of credit is right at hand. Remember, though, that in determining your small businesses credit worthiness and credit line, the issuers will more than likely be looking at the business owner – or owners – personal credit history.

Although your Business Credit Card can be based on the owner’s credit, it is a fine way for the business itself to build a portfolio of good credit and raise its own credit rating.

You know you want a card, but why? Do you and your sales force do a good deal of traveling? Do you pay for gas in the sales peoples’ cars? Do you purchase a lot of office supplies? Maybe you outsource some of your work where you do not have a need for a full-time employee. Contract companies and short-term staffing companies accept credit card payments for the salaries of the temps. Do you have sales contests? Do you like to give awards for jobs performed over and above? What kind of employer are you, what are your spending habits and how can you benefit from a Business Credit Card?

One of the major perks for a small business owner is that a credit card allows you the freedom of paying for expenses all at one time, or if cash is short for a month or two, you can spread out the payments. If you are a business that lives and dies with certain selling seasons, you need to look at the APR very closely. Some issuers are offering zero percent interest for the first twelve months – or more – that you have the card. This would mean, at least for the first year, that you could get through the slow period using your issuer’s money for free. It would get that monkey off your back, and maybe you would be able to stash some cash for the next year’s slow period.

This sounds like an answer to a prayer. But there is fine print to read and pitfalls to avoid. Once the grace period is over, what will be your new APR? Is there a yearly fee to carry the card? Is it waived for the first year? How often does this issuer raise its APR? You need to do a little detective work to determine if your prayer was actually answered.

If you travel and/or have a sales force that travels, there are a host of cards that offer miles or points to be used for travel with every purchase you make on the card. These miles can be used for free flights, flight upgrades, hotel stays, car rentals and many other perks that can help ease the travel budget. One ‘secret’ is to ensure that your travel coordinator always books the flights and charges them to the business card. Allowing each sales person to pay for individual flights and then have your reimburse them on an expense report is counter-productive. You want all those miles or points on your company’s business card.

Perhaps you do not travel at all but still make quite a few purchases with your business credit card. Many issuers have a cash back program. Some offer 1% back on everything while others have a 3/2/1 tiered offering. At the very least this means that you can cut your chargeable expense by 1%. That one point can go right to your bottom line. This is not the card for a company that does not pay the bill in full each month. If you are paying a 15% APR, that 1% cash back gets lost in the shuffle. It is only meaningful if you can actually see it in your P&L.

Another type of card to consider is the points type of card. You do not travel, you probably will be carrying a balance, and right now you do not know how you will use your rewards. Most card issuers have a points program that allows you to collect points for any given period of time and use them for merchandise, travel, gift cards, concert tickets, movie tickets and more. This would be an ideal way to save for a sales incentive program where the top sales person is awarded a trip or other valuable prize. Perhaps you want to show your appreciation to the employee of the year with a $500 gift card. (Not only will you be appreciating that employee, he or she will really be appreciating you!)

Whichever program you choose for your business, be sure to compare the annual fees, the APR’s, and make sure that points, mileage and awards do not expire and there are no blackout dates should you decide to take a trip. If there is an annual fee, will you be receiving more in value for your rewards than the actual cost of the fee?

Yes, you will have to do a little homework. But if done right, you will get an A+ in the bottom line of your P&L.

Try not to apply for more than one card. There are several logical reasons for this strategy. First, when you apply for more than one card at a time, and within a certain time frame, it can actually hurt your credit score. The more inquiries you have, the lower your score can be. Also, when you apply for all this open credit, it is like waving a red cape at a bull. It can be a red flag to issuers. Having too much open credit can be bad news.

So to eliminate these pitfalls, it is important to select the right card for you. One size definitely does not fit all. Analyze your spending habits. Determine exactly what you put on your credit card. Do you carry a balance each month, or do you pay your bill in full? Maybe some months you go one way, some months the other. Do you have any high interest credit cards you would like to pay off that do not carry an annual fee? You do not have to make a formal Excel spread sheet, just list the important facts on a piece of paper.

Do you like to travel? Do you travel often? If the answer is yes to both questions, you may want to look at cards that offer points or mileage you can use to fly or upgrade your flight status from coach to first class. Some of these cards offer several passes to select airlines’ private club rooms at the larger airports; no charge for the first checked bag for you and a companion; discounts on hotels and rental cars; and many other perks that make traveling, whether for business or pleasure, much more enjoyable. As an additional enticement, some card companies may offer a large amount of bonus miles once you have spent a certain amount of money on their cards. Others offer one free domestic flight when you sign up.

If you are not a traveler, but you are a person with a large extended family on whom you continually spend money for gifts and gift cards, you may want to look at the card issuers who allow you to accumulate points that you can use on gift cards, merchandise and even concert tickets. Some rewards cards allow you to earn more points when you shop on their online stores, and others give you more points when you stay at certain hotels, rent an auto at named rental companies, or purchase fuel at designated stations.

Everyone loves money and some card issuers have made cash back options very hard to resist. There are offers such as $100 cash back once you have spent $500 on your new card. That gives you a 20% discount on everything you charged that added up to $500. If you were a savvy shopper and purchased a new flat screen television that has already been reduced to $500, effectively you paid $400 for the TV. This card may give you an option of earning 1% cash back on all purchases as well. So you know you will be receiving a 1% discount on virtually everything you charge. The best way to use this type of card is to pay your bill in full each month. Then the 1% cash back – or credit – is real. If you carry a balance and have an APR of, say, 15%, the 1% cash back doesn’t make a dent in the amount of interest you are paying.

Speaking of interest, do you have one or more high interest credit cards that you would like to pay more quickly? If so, you may want to look at rewards cards that offer 0% interest for six to 12 months or more, and the ability to transfer balances from other accounts to your zero interest account. If your other issuer is charging you 15% interest, switching to zero percent is a wise decision. Now you have six to 12 months to actually pay down the principal. If you select this type of card be sure to look at transfer rates. You want to select a card that does not charge you a transfer fee.

Perhaps you are a points or mileage hoarder. This is not a bad person at all. You choose to save and save until you have umpteen points or miles and then you will make a decision on how to use them. Maybe your dream is to visit the North Pole at Christmas. If you are a frugal user of your rewards, you need to select a card where your points or mileage do not have an expiration date. Some rewards cards have stipulations on how long you can keep your points in your account.

There are variable points rewards cards to attract you even more. Some may have a few of the perks listed above, however they offer a tiered cash back option. They may give you 3% back on gas; 2% back on groceries; and 1% back on everything else.

With all the options, how can you decide the best one for you? You’ve heard the expression there’s no free lunch? Some of these cards waive the annual fee the first year and then charge you $49 or more the second year and thereafter. You have to look at what you are getting for ‘free’ and determine if the rewards equal more than the annual fee. Then again, some cards never charge an annual fee.

Another factor to consider on a zero percent interest account is where your APR will wind up after the honeymoon period. If it is reasonable, then you have made a good decision. However, if it goes up to 22%, for instance, you may want to rethink things. In this instance it is really imperative that you pay your account in full every month that you can.

Just like your personal card, you can earn many perks with a business credit card. Applying for one of these cards is very similar to applying for a personal credit card, but in this case your approval, credit limit and APR will depend on the strength of your business credit standing. There are so many advantages of using a business card. First, you have the advantage of having an open credit line when cash flow is down. Rather than having to go to your bank and apply for a business loan or line of credit to carry you through, you have help right in your wallet.

A very smart business move is the utilizing all resources.  Several of the larger credit issuers are using a zero percent APR for the first six months when you apply for and receive their business cards. If capital is low, or if there is a major purchase you have needed for some time, this would be an ideal time to buy that item – especially if you can pay it in full within six months. In reality you will have used the card issuer’s money for six months, interest free. It is the same as purchasing with cash, only you break your payment up into six monthly installments. You received a zero percent interest loan. That’s not bad! This works even better if the item you needed has been reduced. You get the sale price, the bonus mile or points, and no interest on the loan (for six months).

Similar to personal credit cards, with a business card you can earn rewards, bonus points or cash back. Because business needs are usually higher than personal needs, this means you earn the rewards far more quickly than when you use your personal card for personal buying. With a separate business account, you will not have to do a tally at the end of the month to determine what should be charged to the company and what expenses are for personal use. Business and pleasure remain independent of each other.

One major benefit of a business credit card is that you will probably have a much higher limit than on your personal card. You will not have to carry such a load on your personal account that may affect your credit rating.

When you have a card for business expenses, those points can add up fast. You can use the points for gift cards and other tangibles that you can use as sales incentives or bonuses to your workforce. This can save you bottom line dollars and keep the morale up in a downward economy. Or you can choose to use your mileage and points to upgrade your flights from coach, making business travel a little more pleasant and keeping some of the hassles at bay.

You can really control the spending in your company with a business account. Some card issuers allow you to obtain additional cards with employees’ names on them, all tied to the master account. You can readily see who is spending what in travel and have the opportunity to curb their excesses right away. As with your personal credit card you can log in each day and see what activity has posted.

Many card issuers will give you access to a monthly report that will categorize your company’s spending. This can be a great aid for your financial group in budgeting as well as allocating monthly expenses. You may discover that the bank where you have your business checking account also offers business credit cards. In this instance you could link your checking account with your credit account for overdraft protection.

If you are a small business owner, there is the possibility that you will have to initially get your business credit card on the strength of your personal credit. This is not true for the larger companies and corporations. You may have to personally guarantee payments, but do not let this dissuade you. By using a business credit card, not maxing out your credit limit, paying more than the minimum payment each month, and paying on time will help build your business’s credit rating. This is a smart move for long-term goal completions.

Another advantage of a business credit card over the personal account is that business accounts generally have a lower APR – even after the six months of no interest. This may be because businesses tend to buy a larger amount of goods and services in bulk. The card issuers make their majority of their profits from what they charge the merchants for the ability to use their cards. The card issuer stands to make more profit from the same merchant when the small business purchases $5,000 in goods than when the individual purchases $50 in goods.

There really is no down side to opening a business credit card account. A wise owner or manager will handle the card with the same care as the personal card is handled. Try not to use all of your credit line, pay more than the minimum payment if you cannot pay in full, and always pay on time. Your business card will help build a nice credit score for your small company.

Credit card issuers make money on fees. One of the largest fees is the over-the-limit-fee. For the sake of argument, let’s say you are one of the many of millions of card holders who continually max out their credit cards. No one is judging. Things happen – such as being unemployed for a long time. You have a credit limit of $1,000 and you are right there at $998 and you statement date has not arrived yet. This means that you are going to be charged interest on your balance of $998. Maybe your card issuer will add $15 in interest on top of your $998 balance. This makes you $13 over your limit.

It doesn’t matter to most issuers how you got there, you are over your limit. Now you will be hit with a fee. If you had made allowances for your monthly interest, you would have avoided the over-the-limit fee. Look at your last month’s statement and see how much you were charged for interest. Make sure you have that amount and a few more dollars available in your credit line at the end of each billing cycle. You will avoid any over-the-limit fees.

Another frequently charged fee is the late fee. Your minimum payment (and you should be making more than your minimum if at all possible) is due on the 10^th. Your check arrived at the bank on the 11^th. Therefore you were late and you will be charged. There are several ways to avoid this from happening. The very best way is to pay your bill online. It is simple and secure. Register at the issuer’s website and you can pay your bill on the due date. Some card companies charge you for same day payments – meaning you log into the site on the 10^th and you want your payment credited the same day. It is always better to log in the day before – or earlier – and set the date you want to make your payment. The issuer will take that amount directly from your checking account on the day you selected.

This is not knocking our postal system. They are as over-worked as the rest of America these days and they do their very best. Unless you mail your payment a full week before the due date, you can never be sure it will arrive in time. Even a week prior does not guarantee it will get there in time.

If you mailed your payment on time and it was received on time but it got there before your direct deposited paycheck, your bank will send it back to the card issuer marked insufficient funds. That’s another fee. What you are doing is called “floating” your check. You are hoping your money gets in your account before the card issuer deposits the check. There are several things wrong with this thought process.

First, you should never write a check unless the funds are actually in your account. You know this and you should not have to be reminded.

And then there’s Murphy’s Law. Trying to out-smart Murphy is about like trying to out-smart Mother Nature. If you do not want your check to reach the card company by a certain date, it will. If you do want your check to arrive by the due date, it will not. You can avoid these late fees by paying your credit card bills online.

Another fairly hefty fee is the charge for a cash advance. Nearly all credit card issuers charge a flat fee or a percentage of the cash advance. Many have separate interest rates for cash advance that are higher than the APR on your retail purchases. Emergencies do come up and you can be short of cash. To save the cash advance fees and additional interest rates, make this option one of your last resorts. It is much better to charge the purchase or service and pay the normal APR than to get a cash advance and pay the additional fees.

Can all issuers charge an annual fee? Yes. Do all card issuers charge an annual fee? No. When you are considering a new credit card, really compare the offers among all the contenders. Some card issuers entice you with no annual fee for the first year. Then the second year you are charged $49. Other issuers do not charge an annual fee at all. Ever. But you must carefully compare each card against the other. What are the APR’s for the first year and thereafter? Do you receive enough rewards, bonus points or cash back where paying the $49 is quite a bit less than what you receive in free rewards and services?

Another credit card fee that can be avoided is the balance transfer fee. One credit card company may be offering a zero percent APR for the first six months with no balance transfer fee. A competitor may be offering zero percent APR for the first six month but they charge either a flat fee or percentage for you to transfer your balance from an old account to your new one. If they charge a fee, will it still be a better deal with a zero APR for six months?

There are many ways to avoid extra fees charged by your credit card issuer. You have to be smart when comparing offers and smart about the way you handle your money. It can be done.

Now it’s the beginning of the semester and you have to purchase all your books. You are being thrifty by trying to buy as many second-hand books as you can. If you are not very good at saving receipts, this would be a good time to use your card. First, if you find that something you have purchased is totally damaged and the book store will not give you credit or let you exchange the text, the credit card issuer may be able to assist you if you file a disagreement with the issuer regarding the charge. Each bank or credit card issuer has their own rules and regulations for filing a dispute. They can give you the right information on how to try and get your money back.

Another reason that this is a good time to use your card is that the cost of your books (along with your tuition) is a tax deduction for your parents – or you if you are supporting yourself. Having the charge slip is documentation and proof of the purchase.

Having and using a student credit card is an excellent way to earn a better credit score. Different issuers have different criteria for offering these types of cards, but in general they all ask for ‘average credit’ for an unsecured card. Most lenders consider students with limited good credit to be in the average category. By using the card wisely and paying on time, by the time you graduate and have your first job, you could move up to a ‘good’ rating.

The Credit Card Act of 2009 has a caveat designed to protect students and younger consumers. Students and those under 21 who are not authorized signers on their parents’ credit card accounts must show proof of income to be able to pay monthly card bills, or they must have an adult co-signer if the student wants a card in his or her own name. In addition, issuers are forbidden to actively market their cards within 1,000 feet of your school and giving away tangible gifts as an incentive to apply. If a credit card issue tries to entice you to apply before you have the opportunity to compare their offer with those of a competitor, you could make the wrong credit card choice for your personal situation.

One of the reasons that card issuers actively market to the student population is that they are trying to build customer loyalty early. If you are an active card holder when you are 20, you most likely will keep their card for a long time. If you pay them $200 a year in interest over 25 years, that’s quite a hefty sun. Now multiply that by 10,000 students in your college and you can readily see why this is a winning proposition for the credit card companies. However, each card issuer offers specific interest rates, cash back opportunities, annual fees and rewards programs. You have to really do a minor spreadsheet to determine which card offers you more of what you need at this time.

For example, one card may offer no annual fee. This saves you money right off the top. They may allow you to see your credit score each month (at no charge) so you can see the progression of your rating from average to good. They may offer 1% cash back on all purchases, which means that if you purchase your books, meal card, or other college expenses on this card, you will be receiving a 1% discount. One percent can add up over time.  Most credit cards offer a $0 fraud liability. This means that if someone stole your card and made purchases without your knowledge or consent, you are not liable for the charges.

On a card with an 18.5% APR – or interest rate – if you maintained an average monthly balance of $1,000 – you would wind up paying $185 in interest charges for the year. However, if you paid your account in full each month, you would be receiving all the mentioned perks at absolutely no cost to you.

There are also credit cards who offer students with ‘fair credit’ an opportunity for a card. Remember, you still have to have the means to pay for credit without a co-signer. As an inducement for you to accept their card, they may offer no annual fee as well. However, for a limited time, they may give you a larger cash back option – say up to 5% back for the first six months (then it goes to a flat 1% cash back). This could give you a 5% discount on all of your books and meals for one semester. Their interest rate may be the same as the issuer who gives back 1% all the time.

An exciting offer for students with fair and good credit are cards that have no annual fee, 1% cash back, but give you 0% interest for the first six months. This option would allow you to purchase all your books, supplies, meals, labs, etc. for the first six months at no charge. The key is to make sure you have a zero balance at the end of the introductory period. You received a 1% discount on everything you needed, and you used the card issuer’s money for free for six months. You really do not have to be a math major to determine that this is a very good place to be.

If you are lucky enough to have spare money then it is essential that you take some time out to sit down and thoroughly think through the best way to put that money to work for you and to keep yourself in financial control.  The New Year offers the best time of the year to do such a thing and allows you to set up your next 12 months of finances with focus and intention.

Save! Save! Save!

It is easy to get carried away with spare money left over and actually get spending it instead of saving it.  Especially at New Year!  Your intentions may be good but the temptation of January sales, New Year discounts and Winter bargains may be too much to fight against. Get any bargains that you may need but do not spend any additional money on items that you would not have purchased or be lured into “buy now pay later” schemes that you will regret later in the year.

Get The Very Best Interest Rate

When it comes to put savings aside make sure that you really shop around for the very best interest rate.  It is said that people are more loyal to their banks than they are to their partners because so few people switch their bank accounts.  The truth of the matter is that people aren’t necessarily loyal, just lazy.  It can seem a lot of hassle to open a new bank account but nowadays it can be done very quickly and easily online and can make you literally hundreds or even thousands of dollars in additional interest over your lifetime.  That has to be worth taking a few hours out to shop around.

Use Credit To Your Advantage

It may seem strange to advise you use credit when you already have cash, but used wisely credit can be your best friend.

The longer cash is in your bank account, the longer it is accruing interest which is effectively free money. Some credit cards will offer you several weeks before interest actually starts to be charged on the account.  This means that as long as you pay off your account each month you will not pay a penny in interest.  This makes it a preferential way of paying for items, especially more expensive items as it allows you to pay for an item but leave your money in the bank earning you more interest.   Then simply pay it off at the end of the month and you haven’t paid a penny of interest to the credit card company but you have earned a month of interest by leaving your money in the bank.  It’s a win-win situation, but you need to shop around.

You may even want to look into getting a credit card that has a cash back scheme that then actually pays you to use it.  Again, as long as you pay the balance back in time you won’t be charged any interest but you will have earned interest by leaving your money in the bank longer and then you will get an additional bonus in the form of cash back from the credit card company.

Happy New Year

So, to really enjoy your New Year and make it more financially rewarding than ever, simply avoid the sales and discounts on anything other than the items you would need to have purchased anyway.  Then get yourself the very best interest-paying bank account you can find and then do everything you can to leave as much as you can in there as long as possible by using credit to your advantage.

It may be a case of your debts have simply spiralled out of control regardless of the Christmas expenditure.  If so, now is the best time to sit down and take stock of the situation in a bid to regain control of your finances.

Take A Time-Out

The first place to start in taking control of your debt is to put aside at least half a day to sit down and really sort through your finances.  Too many people try to juggle their finances with work and the kids and never really devote the right amount of time and focus to get things properly sorted and so the problem perpetuates or even gets worse.

Outgoings

It stands to reason that the more money you have going out, the less money you have to put towards paying off your debts.  Therefore, make a comprehensive list of all your outgoings down to the final cent.  This should include all the obvious things such as gas, electricity and mortgage payments but should also include other less obvious things, such as how much you are spending on lunch at work each day, your cable bill and newspaper subscriptions.

From this list you should then be able to identify outgoings that can be cut.  Then allocate this money towards paying off debts.

Pay Off The Highest Interest Debts First

If you have debts then it makes sense to pay them off as quickly as possible.  The quicker you pay them back, the less interest you will pay.  Therefore the best idea is to target the loan or credit card with the highest rate of interest first.  Pay the minimum payments on everything else and then pay as much extra as possible to the highest interest loan.  This should chip away that debt as quickly as possible.  When complete, move on to the second highest interest rate and so on.

Too many people try sharing the money out between all their cards equally, but this is actually the most inefficient way of doing things as it means you will be paying the higher rate interest loans and credit cards for longer and therefore racking up more cost.  Always focus on the most expensive form of lending first and get it eliminated as quickly as possible.

Get A Zero Percent Credit Card

Probably the best advice is to consolidate as much of your debt as possible on to a 0% credit card offer.  This will allow you to focus your payments, eliminate interest (at least temporarily) and get more of a grip on your borrowing.

One of the hardest things about debt is when you are faced with numerous different payments from different lenders relentlessly.  Consolidating this into one payment can be very beneficial.  Across the US you will see plenty of “debt consolidation” companies around offering to do this for you but they will make an additional charge, so why pay them when you can do it yourself and put that extra money towards paying your debt off quicker?!

A 0% credit card is a credit card that will allow you to transfer other debts onto a card that will charge you no interest for a certain period of time.  The period of zero interest is important as obviously the longer you can have no interest, the better.  Some cards offer this for as little as three months while some cards have been known to offer it for up to 18 months or even more!

If you manage to find a credit card with a good length of 0% interest then it will help you to regroup.  Interest payments are one of the biggest problems about paying off a debt as it means that the balance owed just never seems to shrink.  Putting everything on to a 0% credit card means that every penny you are paying towards your debt is then actually paying off the money you owe rather than just covering interest payments and charges.

Another bonus is that you will then only have one monthly payment rather than dozens of bills popping through the mail every week.  This again gives you a chance to catch up with everything.

Using a 0% credit card can be an effective way of getting control of your debts and making a serious dent in what you owe.

Make The Most Of It!

The most important thing to remember when consolidating your debts on to a zero percent credit card is that it is essential you make the most of the 0% special offer period.  Try not to slip into old habits with the extra money you have available – Make the cuts from your outgoings and allocate every single spare cent you have to paying off the debt as quickly as possible.

By focusing as much money as possible into payments on a 0% credit card, you will be able to make maximum impact in what you owe.  It may mean that you can pay off all your debt before the interest even kicks in, but worst case is that when the interest kicks back in you are only paying interest on a much smaller and more manageable amount.

Also, make sure that you do not use the 0% credit card to make additional purchases.  Some cards will only charge 0% interest on balance transfers and not new purchases.  If that is the case, by making new purchases on the card you are undoing any good work you have done in your repayments.

So, get a zero percent credit card, consolidate as much of your debt on to it as possible and then eliminate as many of your outgoings as possible.  Then focus all these savings on to clearing your debt as fast as possible.  Before you know it, you will be back in control of your finances and the New Year will look a lot brighter!

1. Get a prepaid credit card – Afraid your husband might go a little crazy with the credit cards buying you things for Christmas? Maybe your wife has no control when it comes to baby’s first Christmas? A prepaid credit card is the perfect solution. It will curb overspending, and they’ll be no worries about late fees.

2. Know your credit limit – Confirm your limit before you hit the stores, and avoid accidental over-limit spending which can wind up making your APR go significantly higher that it currently is.

3. Cash in on those reward points – Using rewards points is a great way to keep your money in your pocket and still make purchases.

4. Dig out the greenbacks – Although paying with cash isn’t a sign of the times, it’s a perfect way to keep your spending in check this Christmas season. Additionally, you’re less likely to engage in impulse spending when you’ve got to pay for the entire purchase right then and there.

5. Partner Programs – If your credit card issuer has a partner program, now would be the perfect time to cash in on the benefits you get from it. The discounts and bonuses of these programs can be substantial.

6. Online discounts – During the Christmas season many online retailers have significant discount offerings. 

7. Store cards; proceed with caution – Store cards may seem appealing, and a great way to save a little, but these cards normally charge higher interest rates, and if you don’t pay it off in the specified time you’re going to have to pay all that interest on your purchase.

8. Dig for the coupons – Retailers worldwide lure in consumers with all kinds of discounts. Be patient and look around for the best deals.

9. Stick to the traditional – This whole idea of using ipads, ipods and other expensive little gadgets as stocking stuffers is an ideal way to increase your spending. Stick to the traditional stocking stuffers and keep some of your money in your pocket.

10. Narrow your shopping list – Finally, take a good hard look at everyone on your Christmas list. Do you really need to purchase a gift for all of them or will a Christmas card do? You’re boss may be a great person, but does that warrant a gift?

A prepaid credit card is very much like a gift card; minus the fees, of course. You load the card with your own money. It’s sort of like putting down a security deposit on the card. Then, you make purchases with the prepaid credit card, and the money comes out of the security deposit (The preloaded money). Once you’ve used up the security deposit, the card is no longer usable. Hence, you can’t accidently put yourself into more debt.

The Advantages

• It’s a secure way to spend without taking on further financial obligations.

• You can have your payroll check loaded right onto the card if you so choose.

• Using the prepaid credit card eliminates the need to walk around with cash in your pocket.

• Because the card is already paid off (per say) there are no later fees to contend with.

• There are no credit checks to obtain one.

• It really doesn’t matter whether you have a job or not because the card is already paid off when you get it. (Some prepaid cards do require employment in order to get one)

The Disadvantages

• The interest rates on prepaid credit cards are usually higher
.
• You need to actually have the money to put down on the card before you can use it.

• There can be monthly maintenance fees.

• Many car rental agencies won’t accept prepaid credit cards.

• Over the limit fees can be exceptionally high when compared to traditional credit cards.

The big prepaid credit card myth.

Unfortunately, using a prepaid credit card will not have any effect on your credit profile. It’s simply not possible. These cards do not show anything about your ability to manage your money except that you had a chunk to put down on one when you got it.

It doesn’t reveal anything about your spending and repaying habits, and you won’t find any mention of them on your credit report. A secured credit card is the way to go if you’re trying to build/rebuild credit.

You receive VIP access to over 600 worldwide airport lounges plus the exclusive Rewards Program lets you redeem points for 1% cash back or for airfares on any airline with no blackouts or restrictions beginning at only 25,000 points for a ticket worth up to $500.

Zero liability gives you complete protection against unauthorized purchases made with the Black Card.

Other benefits include a warranty manager service on purchases, lost luggage reimbursement for up to $3,000 per trip when you purchase your ticket with the Black Card, trip interruption/cancellation insurance of up to $1,500, baggage delay insurance, auto rental collision damage waiver, worldwide travel accident insurance and roadside dispatch in the US and Canada.

All in all an impressive array of benefits for an impressive looking card.

To apply click here: Visa® Black Card