Three Easy Ways to Make Money With Your Credit Card
By Nick Davis

People often view credit cards as simply a fast-track route to debt. Used sensibly, however, cards can actually make you money.

A word of caution, however. The methods set out in this article do depend on you paying off the balance on your card/s every month, so you are not charged any interest. If you have an outstanding debt on your card/s that you cannot pay off completely, the best advice is to transfer it to a new card with a O% introductory balance transfer rate, and aim to pay off the entire debt before the 0% offer period expires.

The first, and simplest, method you can use for making money from credit cards is to get one with cashback. With these cards, for every dollar you spend, your card issuer will give you back some money, usually in a single payment made once a year.

The amount paid back is calculated as a percentage of your total spending. Percentages vary, but typically range from 0.5% to 2%. Some card issuers pay higher rates for purchases in some categories or made through certain retailers. The Discover® Platinum Card, for example, offers up to 1% cashback normally, but 5% on purchases made from selected merchants in their Get More Program.

The second method you can use for making money from your card is to use it for all your routine spending: food, clothes, gas, power bills, and so on (but avoid drawing cash on the card, as you will be charged interest on this). Meanwhile the money from your salary will still be in your bank account, where it will be earning you interest. When the due date comes round each month, simply pay off the entire balance outstanding, and pocket the interest.

By using these two methods, you should be able to generate several hundred dollars a year, maybe more, from cashback and interest received. However, there is a third method you can use that will earn you even more money from credit cards. You will, though, need to be disciplined enough to avoid spending more than you can afford, and organized enough to make all required payments by the set dates. If you fail on either of these counts you will be charged interest, which will almost certainly wipe out any gains you make.

To use this method, you will need to apply for a new credit card with an introductory interest-free rate for purchases (note that this is a different offer from 0% balance transfers). The Blue card from American Express® is a good example of this type of card: It offers a 0% rate on purchases for an introductory period of up to 15 months (the exact period depends on their judgment of your creditworthiness).

You then make all your routine payments using this card during the introductory period. Simply make the minimum payment required every month and put the rest of the money you would otherwise have spent into a high-interest savings account. When the end of the 0% offer period is approaching, simply pay off the entire balance from the money in this account to avoid incurring any interest charges. Again, the interest you have made during this time is pure profit.

By using these methods you can give your wages a very handy boost at the credit card companies' expense! So why not apply for a suitable credit card today? Independent credit card comparison sites such as www.finest-credit-cards.com make this easier for you by listing all the best current card offers for you to choose from, and also have a range of articles offering unbiased advice and information.

Nick Davis is the owner of http://www.finest-credit-cards.com, which aims to match you up with the ideal credit card to suit your situation. With details of all the leading card offers updated daily, plus informative articles to guide you in your choice, you will never pick the wrong credit card again.

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Credit Cards

For People with No Credit: 5 Tips on How to Establish It
By Rebecca Spitzer

If you are just starting out on building your credit, you want to be smart about building good credit from the beginning. Too many people rush into the world of credit and don’t stop to think about how their actions will affect their credit score and ability to qualify for credit in the future. So here are 5 tips to help you get started on the right foot:

1. Open a revolving credit account. This means applying for a credit card at a major credit company, such as Visa, MasterCard, or Discover. When you get your card, use it. If you would normally pay cash for twenty dollars in groceries, use your credit card. Then deposit that twenty-dollar bill into your checking account and immediately write a check to the credit card company for the bill you will receive that month. You will establish a good payment history very quickly this way.

2. If you have a high credit limit, use at least a third of it. Another aspect of your credit score is the ratio of credit used to your available credit. So if you have six hundred dollars in credit limit at Visa, spend two hundred dollars and pay this off promptly.

3. Always pay on time. Again, if you can pay your credit card bills as you use your card, you will avoid forgetting to pay at the end of the month. Avoid paying late, even if you are willing to pay the late fee. This late payment will show up on your credit report and lower your credit score.

4. Avoid applying for a lot of credit. When companies run your credit to see if you qualify for a credit card or a loan, this inquiry is recorded on your report for the next two years. These types of hard credit inquiries can lower your credit score. So pick what card you want and apply for it, then stop.

5. Finally, always pay your other bills on time. Utility companies, landlords, and medical billing agencies often report your payment history to credit bureaus. Get in the habit of being prompt.

Rebecca Spitzer recommends Find Credit Cards for finding a credit card for people with no credit.

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How your Personal Credit Score Helps Generate Capital
By David Gass

Generating capital for your business is highly dependent on your personal credit score. Your Payment History makes up 35% of your entire personal credit score. The other key indicators that make up your credit score are Length of Credit History, New Credit, Types of Credit Used, and Amounts Owed. The percentage breakdown of each in relationship to your personal credit score is as follows:

Payment History 35%

Amounts Owed 30%

Length of Credit History 15%

New Credit 10%

Types of Credit 10%

Each of these areas has specific items associated with it to determine that percentage of your personal credit score. The 30% of your score associated with Amounts Owed is made up of:
Amounts Owed

· Amount owing on accounts

· Amount owing on specific types of accounts

· Lack of a specific type of balance, in some cases

· Number of accounts with balances

· Proportion of credit lines used (proportion of balances to total credit limits on certain types of revolving accounts)

· Proportion of installment loan amounts still owing (proportion of balance to original loan amount on certain types of installment loans)

The formulas that create your score look at the averages of consumers and compare you to those. For example with the Amounts Owed section the typical consumer has access to $12,190 on all credit cards combined. More then half of all people with credit cards are using less than 30% of their total credit card limit. Just over 1 in 8 are using 80% of more of their credit card limit. About 48% of credit card holders carry a balance of less than $1,000. About 10% are far less conservative in their use of credit cards and have total card balances in excess of $10,000. When we look at the total of all credit obligations combined (except mortgage loans), 54% of consumers carry less than $5,000 of debt. This includes all credit cards, lines of credit, and loans-everything but mortgages. Nearly 30% carry more than $10,000 of non-mortgage-related debt as reported to the credit bureaus.

Based on your current situation you can see how your score may be higher or lower compared to the average statistics of the general consumer.

Length of Credit History that makes up 15% of your score is determined by:

· Time since accounts opened

· Time since accounts opened, by specific type of account

· Time since account activity

The average consumer's oldest obligation is 13 years old, indicating that he or she has been managing credit for some time. In fact, we found that 1 out of 5 consumers who recently applied for credit, had credit histories of 20 years or longer. Only 1 in 20 consumers had credit histories shorter than 2 years.

New Credit that makes up 10% of your score is determined by:

· Number of recently opened accounts, and proportion of accounts that are recently opened, by type of account

· Number of recent credit inquiries

· Time since recent account opening(s), by type of account

· Time since credit inquiry(s)

· Re-establishment of positive credit history following past payment problems

An important indicator of new credit is inquiries. The number of times someone pulls your personal credit report. When someone applies for a loan or a new credit card account - in short, any time one applies for credit and a lender requests a copy of the credit report - this request is noted as an “inquiry” in the applicant's credit file. The average consumer has had only one inquiry on his or her accounts within the past year. Fewer than 7% had four or more inquiries resulting from a search for new credit.

Types of Credit Used makes up 10% of your score and is:

· Number of (presence, prevalence, and recent information on) various types of accounts (credit cards, retail accounts, installment loans, mortgage, consumer finance accounts, etc.)
An average consumer has a total of 11 credit obligations on record at a credit bureau. These include credit cards (such as department store charge cards, gas cards, or bank cards) and installment loans (auto loans, mortgage loans, student loans, etc.). Not included are savings and checking accounts (typically not reported to a credit bureau). Of these 11 credit obligations, 7 are likely to be credit cards and 4 are likely to be installment loans.

Depending on what side of the averages you fall on your score will be higher or lower. Obviously if the average consumer has 11 credit obligations and you have 50, you are likely to have a lower score then someone with 13 with everything else being the same on your credit files.

It is extremely important to manage your personal credit scores and know what your score is at all times. I recommend that you purchase a monitoring service from FairIssac the developer of the formula that tracks your score by going to: www.smallbusinessconsulting.com/fico I recommend it to everyone I know because of the real threat of identity theft and because of the importance of your score in everyday life.

David Gass is President of Business Credit Services, Inc. His company publishes a weekly e-newsletter on Small Business Consulting at their web site http://www.smallbusinessconsulting.com You can sign up for their free newsletter by visiting http://www.smallbusinessconsulting.com

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Free Credit Cards

Today we live in a world where cash has become paperless.We are moving into the era of plastic and e-money.The question is that where can we get free plastic money.Look into this website where it will show you where you can apply for free credit cards.