CitiBusiness ThankYou Card
May 13, 2012 by Charlie Stedman · Leave a Comment
The CitiBusiness ThankYou Card is designed for business owners and their employees. It offers a 0 percent introductory APR on purchases, management tools and rewards for everyday expenses, which can be redeemed for cash, travel, technology, gift cards and more.
Earn 15,000 bonus ThankYou(R) points after you make $3,000 in purchases within 3 months of cardmembership – enough for $150 in gift cards. Earn 3 ThankYou points for every dollar you spend on eligible purchases in rotating business categories, and 1 ThankYou Point per dollar spent on other purchases. You can even earn ThankYou Points from purchases made on your employee accounts. You can redeem points on things for your business or for yourself like business supplies, merchandise, gift cards, travel or even cash.
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Citi offers around-the-clock specialized small business customer service, online expense tracking, quarterly and annual account summaries, and individual credit limits for each employee card to control expenses.
There is no annual fee.
Which is better, a tax deduction or a tax credit?
April 9, 2012 by Charlie Stedman · Leave a Comment
A common misconception among taxpayers is that a tax credit is the same as a tax deduction. This is not only false, it’s a potentially expensive case of mistaken identity.
Simply stated, tax deductions reduce taxable income. A lower taxable income translates into fewer taxes paid by the taxpayer. The IRS has created two methods for utilizing tax deductions. A taxpayer can either take a standard deduction or take itemized deductions. There are a few factors to consider when deciding which route to go.
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The easier of the two routes is the standard deduction, which the IRS makes available to the majority of taxpayers. However, familiarize yourself with eligibility requirements before arbitrarily going this route. For example, a married individual filing a separate return whose spouse itemizes deductions must also itemize.
The standard deduction amounts are set forth by the IRS and are adjusted yearly based on filing status and inflation.
Three Reasons Rewards Credit Cards Are a Bad Idea If You Have Debt
March 31, 2012 by Charlie Stedman · Leave a Comment
Many popular credit cards are heavily advertised using the lure of rewards including cash back and free travel. From the bank’s standpoint, this only makes sense as few would be encouraged to apply for a credit card after being reminded of the possibility of debt or fees. While many cardholders are able to use their cards to earn fantastic rewards, these products are not well suited to those who tend to carry a balance. In fact, there are three great reasons why those who have credit card debt should not be using reward credit cards.
First, those who carry a balance should be concerned primarily with find a card with the lowest possible interest rate. Unfortunately, these tend not to be available on reward cards. The cost of extending cash back or other types of rewards is justified by the higher interest rates charges. Yet from the cardholder’s standpoint, the higher interest rates offered on rewards cards will never justify the relatively small amount of cash back or loyalty points received. For example, the interest rate on a reward card may be several percentage points higher than that of the most competitive non-rewards card. The h
Discover Motiva: intro 0 percent APRs
March 17, 2012 by Charlie Stedman · Leave a Comment
Currently, the Discover Motiva Card offers new members a combination deal: 0 percent APR on both purchases and balance transfers. This interest-free period extends for 15 months from account opening for purchases and 15 months from your first transfer for balance transfers.
You also can expect ongoing cash back rewards, a cash back bonus for paying your bill on time and no annual fee.
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Features:
Fees:
Discover Motiva Credit Card
American Express Overtakes MasterCard in Credit Card Volume
March 7, 2012 by Charlie Stedman · Leave a Comment
It used to be an article of faith among both consumers and industry observers that Visa and MasterCard were the “big two” payment networks. At least in the United States, they are both accepted equally, while customers still occasionally encounter retailers that will not accept American Express cards. Nevertheless, 2011 became the first year in which American Express exceeded MasterCard in terms of total charge volume.
According to the Nilson Report on General Purpose Cards, American Express succeeding in capturing 26.3% of the market for credit card charges, second only to Visa at 43.3%. At the same time, MasterCard fell to third place with 24.8% of the total credit card charges, while Discover brought up the rear at 5.7%. When both debit and credit cards were considered, MasterCard still retained 25.1% of the market, behind dominant Visa at 56.7%, but still way ahead of American Express and Discover which held on to 15% and 3.2% respectively.
MasterCard as a brand is clearly slipping behind American Express. This i