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It may sound crazy, but it is actually already in the works. MasterCard is currently developing a mobile that will let users pay for products or services with a selfie.
The credit card company is indeed working on a mobile app that makes extensive use of facial recognition software for the purpose of verifying the identity of users when facilitating payments. Basically, users download the app onto their mobile device, and then be able to pay for stuff by simply pointing their mobile device’s camera to their face, and then blinking once.
With tax season upon us, everyone is generally scrambling until the mid-April deadline to find old receipts, analyze spending habits, and maximize their refunds. Though tax season doesn’t need to be so daunting—it can actually be a cathartic time to clean out the files from last year and plan for better spending habits for the future. By following a few simple guidelines, taxpayers can get their maximum refunds, lower their spending, and minimize their interest payments on their credit cards—all in one easy month.
Annual Fee: A yearly charge for card membership. Most cards don't have annual fees. Charge cards and cards that offer airline miles are two notable exceptions.
APR (Annual Percentage Rate): The ongoing annual interest rate associated with the card offer. Often cards have an introductory APR on purchases or balance transfers which is different than the permanent APR. Interest rates can be fixed or variable.
Don't consolidate your credit card debt with a home equity loan/line. It can be tempting --- the rates are usually lower, and the interest may be tax deductible. However, home equity loans are secured debt, while credit card debts are usually unsecured. If you don't pay an unsecured debt --- you have a bad credit rating. That's not good, but it's not permanent. If you don't pay back an equity loan --- you might find your house being sold on the courthouse steps.
Simply put, this Act requires card issuers to disclose certain specifics of their offer in a table, in a reasonably consistent manner. Theoretically, this will help consumers to more easily compare different offers, and understand the true costs of credit. Here's an example:
Those "pre-approved" offers that seem to show up daily in the mail don't really mean anything. If your formal application doesn't meet the criteria, you may still get shot down or, more likely, get a card with a higher interest rate than specified in the offer. Additionally, just because it is pre-approved, doesn't mean it is an offer that matches your spending patterns.
There are many different credit card types to choose from. It’s important that you make sure to get the right credit card for your needs or you could end up paying a lot in fees and extra charges.
In part, your credit card choice should be based on credit score, your income, and your expected purchases. Check out our chart below to compare credit cards to see which credit card type is the best fit for you.
Submitted by
Logan Abbott
on Tue, 2013-08-20 17:00
We've completely overhauled our credit card comparison tool and the new and improved tool is now live. The new MyRatePlan Credit Card tool is unique in that it allows users to input usage behavior and spending habits, and then uses custom algorithms to calculate savings/earnings for each card so that customers can choose the best card for them. Our algorithms take into account rewards points, cash back, bonuses, and all other benefits that credit cards offer in order to display an accurate savings dollar amount so people know how much each card woud benefit them.
Submitted by
Logan Abbott
on Fri, 2013-02-01 00:00
Today Discover announced the new 5% cash back categories for Discover it cardholders. The Discover it Card offers a 5% Cash Back Bonus® to all cardholders in categories that rotate each quarter throughout the year.
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