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Chase Freedom: A Cashback Card with a Twist
Still can’t decide between cashback or rewards credit cards? The Chase Freedom is a great card for those just starting out. This card gives you the “freedom” to make your cashback/rewards choice at a later date. And, right now is a great time to apply for the card. The sign-up bonus has been temporarily increased to $150 (normally $100) and between now and December 31, 2015, you’ll earn 10% instead of 5% cash back at Amazon, Zappos, Audible, and Diapers.com. Ultimate Rewards While Chase calls Freedom a cash back card, it actually earns Ultimate Rewards (UR) points that you can later exchange for cash. There’s actually two types of UR…
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Cashback vs Rewards Credit Cards
Do you dream of luxury travel, flying in first class and staying in expensive hotel suites–and doing it all for free? Or do you prefer cold hard cash? Ok, I know… you like both! Who doesn’t? But when you start looking for the right credit cards that will give you the best rewards for your own personal spending habits, it’s best to focus on only one type: cashback or rewards. There are countless credit cards out there, all different and each competing for your spending. You certainly can’t apply for all of them, and you shouldn’t apply for any of them without doing your research first. There are cards that,…
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7 Keys to Higher Credit Scores
It’s always a good time of year to review some basic steps to achieving higher credit scores. Here are 7 keys to getting instant approvals on those rewards credit cards or the lowest possible rate on your mortgage. Be Disciplined As is the case with most personal finance strategies, being disciplined is the key. The good news: thanks to the advent of technology, it’s much easier now than in the past to be disciplined in building your credit. If you fully commit yourself to the process of boosting your credit rating, higher scores–and the multitude of benefits and special offers that come with them–can be yours. Auto Pay Is Your Friend The…
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Understanding your Credit Score–TIMES THREE!
When most people start on the journey to understand their credit score, they’re usually expecting to have just one number to deal with. You might be surprised to learn that you don’t have just one FICO Score, you have THREE! And they’re all different! While that seems unnecessarily confusing, and perhaps a bit daunting, here’s the good news—the same strategy can be used to boost all three scores, all at the same time. In this post, I’ll briefly explain why you have 3 credit scores, and why they’re all different, so that you can have a better understanding of my next post, which will give you the tools you’ll need…
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Decoding Credit Score “Mystery Math”
Knowing what doesn’t affect your credit score is every bit as important as knowing what does. Deciphering the methodology used by the “credit score gods” can be intimidating, so PointsYak has done the work for you, breaking down the parts of your credit report that are used compute your score. Of course, only the folks at FICO know the exact math behind that final magical number, but here’s the bottom line on what hurts your score, what helps, and even a few things that—surprisingly—have no impact at all. Payment History How you’ve handled your monthly bills accounts for the largest portion of your overall credit score. Are you one of…
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The Real Value of Good Credit
We’ve all seen the television commercials about the importance of knowing one’s credit score. But how much is good credit actually worth? The answer may surprise you. A low credit score is symptomatic of poor financial habits–habits that can cost you BIG TIME, in addition to any exorbitant interest you may be paying on your monthly credit card bills. How much more could it cost? Let’s say you’re buying a $200,000 house with a 20% down payment. On a 30 year $160,000 mortgage, having a credit score of 650 instead of 750 can cost you nearly $35,000 in additional interest payments over the life of the loan. Check your Credit Report for free The first step to…
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Welcome to PointsYak: Your Guide to Good Credit and Credit Card Rewards
PointsYak is your roadmap to maintaining a good credit score, getting information about the latest credit card offers and deals, and how to maximize points that can be redeemed for travel rewards or cash back. Competition among banks to attract new customers is feverishly high. Likewise, the rewards and bonuses they are willing to grant are extremely generous. PointsYak is here to educate and navigate you through various offers so that you can make the best choice for your personal situation and needs. Is my credit good enough to apply for a new card? When should I apply? American Express or Chase or Citi or Discover or…? Is Cashback better than Points? Do I have to pay an…
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