Low and 0% Interest Credit Cards (No and Low Balance Transfer Fee Credit Cards)

By MoneyBlueBook

Zero percent and low intro APR balance transfer cards are a particular selection of credit cards that I've had a lot of exposure and experience with. I've used them for everything from temporary financial emergencies to balance transfer arbitrage purposes. During times when I needed a temporary source of cash, I've applied for 12 month 0% introductory APR credit card offers and requested balance transfer checks. For the duration of the promotional period I would have the needed money to tie me over. Of course I always paid the balance back in full after the introductory period ended.

Well, as I mentioned in an earlier post, I'm looking to get back to making some extra money by doing App-O-Rama balance transfers. The process works by submitting new card applications from a select list of balance transfer cards that offer introductory 0% APR. The transferred balance is then deposited into a high yield savings account to earn free interest for the duration of the balance transfer period. When it's over, you pull the money out, repay the credit card and pocket the interest profit. The amount of arbitrage income you can earn depends on how many credit cards you apply for, the total credit limit, the duration of the no interest promotional period, and whether there are any one time balance transfer fees. People looking to make money from balance transfers usually apply for a high number of 0% offers at one time

By MoneyBlueBook

Updated List Of The Best Restaurant Credit Card Offers For Eating And Dining Out

I wish I could be like a green garden plant and photosynthesize my food instead of having to buy it. I spend so much money eating out it's sad. I eat lunch at work and usually spend up to $8 for a sandwich. Dinner usually involves whatever I pick up on the way home and it's frequently $10 or more. Food in downtown Washington D.C. where I work can definitely get very expensive.

Luckily there are certain credit cards I can use to soften the financial blow by getting cash back or reward points for eating out. Most reward cards only give a measly 1% cash back, and many of the ones that offer a higher percentage back only offer it for purchases at fast food/takeout places. But there are a select few reward cards that offer a very impressive 3%-5% back for all restaurants, including fast food and even coffee shops! If you're a student who eats out often, a young professional who dines out most of the time, or even a family minded foodie who enjoys fancy restaurants, you might benefit from having a utility credit card in your pocket that will allow you to earn rebate rewards and cash back discounts for such meal expenses.

Here is one of the more popular cashback rewards credit cards for eating and dining out:

TrueEarnings Card from Costco and American Express - This card is brought to you by Costco and is meant for Costco warehouse club members. This card offers...

By MoneyBlueBook

I do a lot of online shopping shopping. In fact, I'm looking to buy a cheap laptop soon and will absolutely buy it online. Other than groceries or items I need right away, I try to plan ahead and purchase everything through the internet where I can often obtain the best deals.

Here are the basic steps I take when I am looking to buy something online at the best price possible:

1) Use Froogle

My first stop is to compare prices using Google's Product Search engine. The program used to be called Froogle but Google changed the name a few months ago. Personally, I liked the old name better and still refer to it as Froogle. Not a whole lot of people use it, but I use it often.

Froogle works the same as your usual Google search engine except it compares prices based on your keyword search. It scours the web for store and auction prices and surprisingly yields a decent size list of results. It gives you an idea of the range of prices online retailers are charging.

2) Use eBay

After I have a general idea of the range of market prices, I visit eBay to run keyword searches of the item I want to buy. As I mentioned in an earlier eBay related post, it is always best to run several searches using different combinations of keywords to maximize your chances.

After factoring in the cost of shipping I compare the eBay total selling prices with the Froogle prices including shipping to

By MoneyBlueBook

You know the routine. You walk up to the retail or department store checkout counter to pay for the stuff you're going to buy and the sales lady asks you if you'd like to receive 10-15% off your purchase today by applying for a department store credit card. Especially if you are buying a lot of things, it's always a big temptation at the checkout line, but signing for any store credit card like Macy's, Bloomingdales, or Home Depot just to get a one time discount may hurt you in the long run. You may save a few dollars now but it is likely to weaken your FICO credit score and be counter productive to any debt reduction plans you may have. They may be very easy to apply and qualify for, but they are nothing but debt traps, especially for college students looking to build credit.

It Will Ding Your Credit Score

Even if you intend to promptly pay off all balances, the mere act of applying for credit will hurt your FICO score because it is considered a hard pull credit inquiry. Although the hit is not significant, if you make it a bad habit of frequently applying for department or retail store credit cards to take advantage of one time discount offers, this could spell trouble. Every credit inquiry hurts your score so it is best to stay away from this temptation.

Department Store Credit Cards Have High Interest Rates

If You are trying to get out of debt or have been relatively

By MoneyBlueBook

I'm thinking of a number...between 450 and 850. Do you know what it is? It's my credit score, and it happens to be be 720.

Ok, my credit score is actually 750, but I'm sure you've heard that commercial before from freecreditreport.com. It's the one where the guy is sitting on a producer's chair talking about his credit score in front of a plasma tv. Well I'm here to warn you not to fall for their slick advertising. Their marketing technique is very clever but seemingly misleading. The free credit reports they offer are not truly free as most people would understand it. You have to enroll in their credit monitoring trial program to obtain your complimentary report. If you don't cancel within the trial period, you will be charged.

AnnualCreditReport.com is the Only Official Free Credit Report Site

There is only one truly free way to obtain your credit report, and that is through AnnualCreditReport. There are numerous sites out there that claim to offer "free credit reports", "free credit scores", or "free credit monitoring" but none of them are part of the legally mandated and official free annual credit report program. In most cases, the so-called credit report product comes with strings attached.

By law everyone is entitled to a free copy of their credit report from the three major credit agencies, Equifax, TransUnion, and Experian, upon request once every 12 months. These credit reports usually cost upwards of $10 each. It's a good idea to keep tabs on your credit report and

By MoneyBlueBook

After spending some time on the sidelines, I think it's time for me to get back into the whole 0% balance transfer game, also known in some circles as the App-O-Rama (insert ominous lightning and thunder crack). 8O

The App-O-Rama Game - What Is It?

For those of you unfamiliar with the concept, the App-O-Rama (more formally known as credit card arbitrage or balance transfer arbitrage) is a way to generate money through the calculated use of interest free credit card balance transfers. The process operates by you opening numerous credit cards that offer special introductory 0% APR balance transfer rates. The introductory period is often up to a year long, during which time you deposit the balance transfer funds into a high yield savings bank account. Essentially you are making money from borrowed money for an extended period of time. At the end of the introductory period, you promptly pay everything back in full and you pocket the savings interest as profit.

The process requires prior preparation and may be difficult for some people to automate and pull off without a hitch. Participation is certain to negatively affect your credit score in the short term and there are also many hidden dangers as well so it's certainly not suitable for some people. It is definitely not recommended for those people who need to maintain excellent credit because they are planning on buying a new house or car in the next 12 months. It is also not recommended for those who are disorganized or