5 tips for handling 0 percent credit card offers

By Julie Bawden-Davis

When a credit card company says they'll give me free credit for 12 months, I consider paying off my balance before the end of the period -- and avoiding the interest charges that will appear if I don't -- a challenge.

My romance with these offers started several years ago when the receptionist for my son's orthodontist flashed me a toothy grin and handed me the bill for his braces. I gulped at the total and decided to apply for a card that offered a zero-interest period to help handle the expenses. I paid that balance off before the end of the period, and I've since financed several dental and veterinary bills the same way.

But before you opt to use a 0 percent offer to pay down your bills, here are five tips to keep in mind ...

By Peter Andrew

Editor's Note:  This offer is no longer available.

When I was in my early 20s, I once wrote to my bank manager: "Don't buy the champagne yet," I advised, "but it looks as if I'll be relocating, and will have to move my account." He replied, saying that I could keep my account where it was, and added: "As for the champagne, we thought we'd wait till you got into credit." Yes, I was a financial disaster, largely because micromanaging money paperwork was just so boring. I'm better now only as a result of online banking and card services that make it easy to keep track of balances.

Still, one thing remains certain: I'd never be able to make the most of those credit cards that offer bonus rewards on categories of spending that change each quarter. You have to remember to check what spending categories are current and upcoming so you can schedule purchases accordingly. You have to remember to register each quarter to qualify. You have to note spending caps on categories. I know there are people out there who are willing and able to invest that sort of time and effort -- and I admire them -- but I'm not one of them.

If you're not either, then you might want to check out the Citi ThankYou® Preferred Card – Bonus Point Offer, which is currently offering 20,000 bonus ThankYou points a sign-up bonus worth $200 in gift cards or other great rewards after you make $1,500 in purchases on the card during the first three months of account opening...

By Tim Sullivan

Thinking about closing a credit card account? Closing a credit card account can prevent you from using too much credit, reduce your risk of identity theft and make keeping track of your finances easier. However, it can also have a negative effect on your credit score.

Part of your credit score is based on how much of your credit you actually use. When you close an account, especially a larger account, your credit-utilization ratio (CUR) will be affected and your score could go down. In addition, if the card you're closing was the first credit card you ever got, it could shorten the length of your credit history, which can also hurt your score.

Too many cards

That said, tell me if this situation sounds familiar: You have to buy a dress or a suit for a friend's wedding. It's tough financially, but it's their wedding -- a once-in-a-lifetime occasion. You pick one out and when you get to the cashier, he offers you an additional 20 percent savings if you sign up for their store credit card. Plus, with the card, you get free alterations. Done.

By Justin Boyle

What's with this war on traditional credit cards? Mobile payment apps are popping up left and right, and U.S. market leader Google Wallet seems to be leading an aggressive charge against all spending instruments marked with embossed digits and shiny magnetic strips.

The attempted rampage is making slow progress, however, and the possible reasons for this are numerous:

• Apps may have been slow to raise awareness about themselves as an alternative to traditional credit methods.
• Credit customers may not trust software companies enough to embed all of their financial information in a single electronic device.
• People may just be more comfortable with their old familiar deck of plastic credit cards and hesitate to make the switch.

Whatever the reason, traditional credit cards haven't seemed to meet their match yet. That is, they haven't until Square came along with Card Case.

Why Card Case is different

Square, the mobile payments company started by Twitter founder Jack Dorsey, has already changed the world of credit card payments once ...

By Peter Andrew

Do you remember that 2009 movie "Up in the Air"? It starred George Clooney and Vera Farmiga. Clooney's character Ryan Bingham was constantly flying from city to city -- and hotel and airline credit cards and loyalty programs were very important to him. You can imagine why. When you're traveling that much, every little perk and privilege that smooths your way through an airport or makes your stay more comfortable is truly valuable. And with that sort of lifestyle, the rewards can soon add up, too.

So what would Bingham make of the Citi® Hilton HHonors Reserve Card?

Hotel credit cards: a competitive market

Bingham might find it attractive that as a cardholder, he'd be automatically enrolled with Gold status in the HHonors loyalty program. That brings:

1. Free room upgrades, if available ...

By Peter Andrew

You may not believe this, but I wouldn't accept an American Express Centurion Card -- aka the "Black" card -- even in the incredibly unlikely event that the company took leave of its senses and offered me one. I'm just not the type of person who wants the attention that comes with a credit card of that sort.

The Chase Sapphire, credit card however, could certainly make my short list the next time I'm shopping for plastic. True, cute clerks and wait staff won't swoon when you present it, but it's a good, solid product with plenty of attractive features.