The Benefits & Drawbacks of the CareCredit Mastercard: Everything You Need to Know Before Applying

by Cory Santos
what are the beenfits and drawbacks of the carecredit mastercard?

The CareCredit Mastercard is a popular credit card offering special healthcare financing options. The card, issued by Synchrony Bank, seeks to provide consumers with a flexible and convenient way to pay for medical procedures and services that may not be covered by traditional insurance. But what is CareCredit, and is it worth using it? Here’s everything you need to know about the CareCredit Mastercard before you consider applying for it:

Table of Contents

What is CareCredit?

CareCredit is a no annual fee healthcare credit card designed to help individuals cover medical expenses not fully covered by insurance. It can be used at over 250,000 enrolled providers and locations across the United States, including doctors, dentists, veterinarians, and more. You can even use CareCredit at pharmacies.

CareCredit works by offering offers various financing options, including short-term promotional periods with no interest and long-term financing with reduced interest rates. These promotional financing options can help save you the upfront cost and steep interest charges of the following procedures:

Chiropractors Cosmetic procedures Dentistry Dermatology
Fitness Hearing Laboratory and diagnostics Medical equipment and supplies
Sleep specialists Vision care Weight loss

But the CareCredit® Rewards™ Mastercard™, the program’s co-branded credit card, offers far more than just deferred financing. The card also earns 2X points per $1 spent on several health-related transactions, including CareCredit Network purchases, health and wellness buys, and grocery and pet store purchases. In case you’re wondering, the “health and wellness” category includes healthcare, drug stores and pharmacies, gym memberships, sporting goods stores, bicycle shops, health & beauty shops, and more.

All other purchases with the card earn a single point (1X per $1 spent on purchases anywhere Mastercard is accepted), with points redeemable for statement credits, gift cards, merchandise, and more.

What are the Benefits of CareCredit?

From that introduction, it’s clear that the CareCredit® Rewards™ Mastercard™ – and the CareCredit program – provide plenty of value for any consumer concerned about unforeseen medical costs. Here are the best benefits of the card:

Flexible Financing Options

As mentioned, the CareCredit Mastercard offers a range of financing options. For short-term expenses, such as dental procedures or elective surgeries, you can take advantage of promotional periods with no interest if the balance is paid off within a specific timeframe. This can provide much-needed breathing room for individuals facing unexpected medical costs.

CareCredit offers the following financing options to cardholders:

  • Deferred interest if paid in full in 6, 8, 12, or 24 months (requires an eligible transaction of $200+)
  • Reduced APR and fixed monthly payments for 6, 8, 12, or 24 months (requires an eligible transaction of $200+)

Online Pre-Qualification

CareCredit offers a pre-qualification tool on its website, allowing you to determine if you might be approved for the card before actually applying for it. Pre-qualification does not guarantee approval, but it can give you an idea of your likelihood of success. If you pre-qualify, you can proceed with the full application, which does involve a hard credit check – meaning it will appear on your full credit report.

Immediate Usage

CareCredit and Synchrony provide an instant virtual credit card upon approval for the CareCredit Mastercard. This means you can use the card immediately, even before receiving the physical version, by adding it to your mobile wallet (Apple Pay, Google Pay, Amazon Pay, etc.). This feature can be particularly helpful in health emergencies when time is of the essence.

Other Benefits

Beyond a quick approval process, solid reward points on key purchases, and promotional financing for unexpected or elective surgeries or procedures, the CareCredit Mastercard provides several other benefits, including the wide acceptance of the Mastercard payment network. Mastercard is one of the world’s biggest payment networks, currently accepted in over 212 countries. As a full-feature Mastercard credit card, cardholders can expect the following Mastercard benefits and protections:

Zero Liability Protection Mastercard Global Services ID Theft Protection

But CareCredit’s wide acceptance is due to more than just the Mastercard logo. CareCredit is accepted by a vast network of healthcare providers as well, making it easier for cardholders to find participating professionals and facilities. Whether you need to visit a specialist, undergo a medical procedure, or even care for your pet, you’ll likely find a provider that accepts CareCredit in your area.

Finally, CareCredit offers flexible payment options, allowing cardholders to choose the financing plan that suits their needs. Whether you prefer short-term promotions or longer-term financing with a reduced APR, you can select the option that aligns with your financial situation.

The Drawbacks of CareCredit

A medical credit card might sound like a gamechanger – and in many ways it is. But there are limitations of the program you need to know about before applying:

High APR While CareCredit offers promotional financing options, the regular purchase APR with the card is far in excess of what most patients pay when taking out a personal or medical loan to pay for procedures. If you don’t pay off your balance within the promotional period, you may be subject to the regular APR, which is very high when compared to other rewards credit cards for health purchases.
Deferred interest As mentioned, one of the two financing options with CareCredit comes with deferred interest. If you fail to pay off the entire balance within the promotional period, you’ll be charged interest on the original amount financed, not just the remaining balance. It’s crucial to manage your payments carefully to avoid unexpected interest charges.
Limited rewards CareCredit earns bonus points outside of CareCredit procedures and services. Despite this, these bonus categories are limited to health and wellness-type transactions. If you want a credit card that offers more versatility and can be used for everyday expenses, you may need to consider other options.

How to Maximize Value with CareCredit

Ensuring you get the most value for your money with CareCredit is essential to maximizing your experience as a cardholder. Fortunately, there are a few helpful tips to help you accomplish this goal:

  • Understand the terms: Familiarize yourself with the terms and conditions of your chosen promotional offer. Note the promotional period’s end date, minimum monthly payments, and any potential deferred interest charges. By understanding these details, you can plan your payments accordingly.
  • Use automatic payments: Consider setting up automatic payments for your CareCredit account to avoid late fees and interest charges. This will help ensure that your payments are made on time and in the correct amount. However, monitor your account regularly to ensure the payments are being processed correctly.
  • Track your spending: Keep track of your CareCredit spending to stay within your budget and avoid accumulating excessive debt. It’s easy to overlook small purchases, but they can add up quickly. Regularly review your statements to stay on top of your expenses.
  • Explore other financing options: While the CareCredit Mastercard can be useful, it’s always a good idea to explore other financing options before deciding. Consider alternatives such as personal loans, medical payment plans offered by providers, or even negotiating payment arrangements directly with healthcare professionals.

Is CareCredit Worth It?

Determining if the CareCredit Mastercard is worth it depends on your circumstances and financial goals. If you have upcoming medical expenses not covered by insurance and need a flexible financing option, CareCredit can be a viable solution. However, it’s crucial to carefully consider the terms and conditions, especially regarding promotional periods and potential interest charges.

Before applying for the CareCredit Mastercard, assess your ability to manage payments within the promotional period and ensure you have a clear plan for paying off the balance. If you believe you can responsibly handle the financing terms and take advantage of the promotional offers, CareCredit can provide valuable financial assistance for your medical needs.

Other Options to Consider

There aren’t too many “health and wellness” credit cards out there – but a few exist that can serve a similar function. Perhaps the biggest completion for the CareCredit Mastercard is the Upgrade Triple Cash Rewards Visa®. The Upgrade Triple Cash earns an unlimited 3% cash back on health, home, and auto purchases, with no hidden fees and a regular APR significantly lower than CareCredit. The “health” category is exceptionally broad and includes expenses such as:

Bike shops Chiropractors Counseling services Dance studios
Dentists Orthodontists Doctors Drug stores
Health spas Beauty spas Hearing aids Hospitals
Labs Membership clubs Country clubs Nursing
Osteopaths Optometrists Orthopedics Podiatrists
Golf courses Recreational Sporting goods Sports apparel

The myWalgreens™ Mastercard® is another health and wellness credit card issued by Synchrony. This $0 annual fee retail credit card earns up to 10% back in rewards on Walgreens purchases, 3% on grocery and health & wellness purchases outside of Walgreens, and more. It’s not exactly the same as the CareCredit Card, but it can still help you offset some of the costs of your prescriptions, health and wellness supplements, and even any last-minute shopping should you need a quick gift, card, snack, or anything else from Walgreens brands (including Walgreens, Walgreens.com, and Duane Reade stores).

Summing It Up

The CareCredit Mastercard offers a range of benefits for individuals facing medical expenses that are not fully covered by insurance. With its flexible financing options and wide acceptance at healthcare providers, it can provide a convenient solution for managing healthcare costs. However, it’s important to understand the potential drawbacks, such as deferred interest and high APR for standard purchases. By carefully considering the terms and managing your payments responsibly, you can make the most of the CareCredit Mastercard and navigate your medical expenses more easily.

Featured image by Freeimages

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Credit Card Advice

Major Changes Announced for Hilton Honors Credit Cards

by Cory Santos
Hilton Honors Credit Cards from American Express get major changes

Hilton Honors and American Express have made major changes to two popular Hilton Honors credit cards. Both the Hilton Honors Surpass and Hilton Honors Aspire products are getting makeovers, which include more emphasis on statement credits, fewer airport perks, and big increases to the annual fees.

Hilton Makes Big Changes to Hilton Honors Credit Cards

Card issuers and loyalty programs often change rewards and credit card programs to attract new applicants. With American Express and Hilton Hotels, however, the trend appears to be more about replacing tangible benefits with statement credits – and raising the annual fee.

Hilton Honors is refreshing the Surpass® Card and the Aspire Card, two of its most popular premium hotel credit cards. These changes include an annual fee hike (which goes into effect on February 14, 2024, for existing cardholders), increased welcome offers (through January 17, 2024), and the elimination of older statement credits.

Changes to the Hilton Honors American Express Surpass® Card

Hilton Honors American Express Surpass® Card

Hilton Honors American Express Surpass® Card
Visit Card Site Rates & Fees
Excellent-Good
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Excellent / Good
American Express Processing Network
$150 Annual Fee

Hilton Honors American Express Surpass® Card

  • 20.99% to 29.99% variable based on creditworthiness and Prime Rate Regular Purchase APR
  • 29.99% variable based on the Prime Rate Cash Advance APR

At a Glance

If you regularly stay at Hilton properties, the accelerated ability to earn bonus points and a sizable introductory bonus offer help the Hilton Honors American Express Surpass Card really stand out. Card members also receive complimentary Hilton Honors Gold status, which entitles them to guaranteed member discounts, digital check-in, complimentary breakfast, and a host of other perks, all for a competitive annual fee.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Earn 12X Hilton Honors Bonus Points for each dollar of eligible purchases charged on your Card directly with a hotel or resort within the Hilton portfolio
  • 6X Hilton Honors points per $1 spent on purchases at U.S. restaurants, U.S. supermarkets, U.S. groceries, U.S. online retail, and U.S. gas stations
  • 3X Hilton Honors points on all eligible purchases
  • Complimentary Gold status with your card
  • Free Weekend Night Reward after spending $30,000 on your card in a calendar year
  • No foreign transaction fees
  • Earn 170,000 bonus points and a free night after you spend $3,000 in purchases on the Hilton Honors American Express Surpass® Card in the first 3 months of Card Membership
  • Regular Purchase APR: 20.99% to 29.99% variable based on creditworthiness and Prime Rate
  • Cash Advance APR: 29.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Penalty APR: 29.99% variable based on the Prime Rate
  • Annual Fee: $150
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $40
  • You regularly stay at Hilton properties and want to quickly earn Hilton Honors Bonus Points
  • You will spend enough with the card in the first three months of opening an account to earn a very generous welcome offer
  • You want the convenient benefits that come with complimentary Hilton Honors Gold status, as well as Hilton Honors Diamond status if you spend $40,000 on eligible purchases through the end of the next calendar year
Hilton Honors American Express Surpass® Card

Hilton Honors American Express Surpass® Card

Rates & Fees
Visit Card Site Rates & Fees

The Hilton Honors American Express Surpass Card was one of the few credit cards that provided lounge access for an annual fee below $100 – but not anymore. The card provided a complimentary ten airport lounge visits via a complementary Priority Pass™ Select membership – a perk valued at over $400. Now, however, Hilton and American Express are removing that benefit.

Effective February 1, 2024, the Hilton Honors American Express Surpass® Card will no longer offer a complimentary Priority Pass™ Select program membership. Cardholders who enroll in their Priority Pass Select benefit before that date can continue to use the perk until January 31, 2024.

Addition of Statement Credits

The loss of the lounge benefit from the Surpass Card comes despite a considerable annual fee increase to $150. To compensate for this increase, Amex and Hilton are restructuring the rewards earning potential of the card and stacking statement credits – a move also employed with The Platinum Card® from American Express.

Surpass Amex cardholders get up to $200 in statement credits annually for eligible Hilton purchases made with their Surpass Card directly at participating Hilton properties. This credit offer costs up to $50 in statement credits each quarter. The card also offers complimentary National Car Rental® Emerald Club Executive® status.

Changes to Points Earning

The Hilton Honors Surpass Amex now earns the following Hilton Honors bonus points on eligible purchases:

  • Earn 12X points on purchases charged on your Card directly with a hotel or resort within the Hilton portfolio
  • 6X points on purchases at U.S. restaurants, U.S. supermarkets, U.S. gas stations, U.S. groceries, and U.S. online retail purchases
  • 3X points on all other eligible purchases

This new structure adds grocery stores and eligible retail stores as bonus categories, increasing the card’s usability in the United States. However, the card offers limited value when used outside the country (except at Hilton properties).

Changes to the Hilton Honors American Express Aspire Card

Hilton Honors American Express Aspire Card

Hilton Honors American Express Aspire Card
Visit Card Site Rates & Fees
Excellent
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Excellent
American Express Processing Network
$550 Annual Fee

Hilton Honors American Express Aspire Card

  • 20.99% to 29.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
  • 29.99% variable based on the Prime Rate Cash Advance APR

At a Glance

The Hilton Honors American Express Aspire Card is a behemoth of a hotel card, offering new cardmembers the ability to earn a hefty Hilton Honors bonus points welcome offer after making $6,000 in eligible purchases on the card within the first three months of the account opening. This card also grants the ability to earn a whopping 14x Hilton Honors points per dollar spent on direct Hilton hotel and resort purchases.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • 14X points for Hilton hotels and resorts
  • 7X points on flights booked directly with airlines or through amextravel.com, ca
  • 7X points on car rentals booked directly from select car rental companies
  • 7X points at U.S. restaurants
  • 3X points on all other purchases
  • Complimentary Diamond Status in the Hilton Honors rewards program
  • Anniversary bonus of one weekend night
  • Earn additional weekend night reward after spending $60,000 within calendar year
  • $400 Hilton resort statement credit
  • Regular Purchase APR: 20.99% to 29.99% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR: 29.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Penalty APR: 29.99% variable based on the Prime Rate
  • Annual Fee: $550
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $40
  • You're capable and willing to spend $6,000 within the first three months of opening an account to receive the card’s welcome offer of bonus Hilton Honors points
  • You wantCLEAR security fast pass
  • You book stays at Hilton Resorts at least once per year
  • You will make $60,000 in purchases per year
Hilton Honors American Express Aspire Card

Hilton Honors American Express Aspire Card

Rates & Fees
Visit Card Site Rates & Fees

The Hilton Honors American Express Aspire Card is one of the best hotel credit cards thanks to its vast points on offer, Hilton perks, and lucrative statement credits. That quality, however, comes at a steep price – and one that American Express and Hilton are also increasing.  The Aspire Card is getting a fee increase from $450 to $550, with the same emphasis on statement credits as the Surpass changes.

Changes to Statement Credits

As with the Amex Platinum, the number of new credits with the Aspire Card is large. Previously, there was a $250 Hilton resort statement credit, but that perk has been removed, with many new ones taking its place:

  • Hilton credits: Up to $400 in statement credits annually for eligible purchases made with the Hilton Honors Aspire Card directly at participating Hilton Resorts (up to $200 in statement credits semi-annually)
  • Flight credits: Up to $200 in statement credits annually on eligible flight purchases (up to $50 in statement credits each quarter) made on the Hilton Honors Aspire Card
  • CLEAR credits: $189 in statement credits per calendar year after members sign up and pay for a CLEAR Plus membership (subject to auto-renewal) with the Hilton Honors Aspire Card

Other Additions

Beyond more statement credits, the Aspire Amex Card also features an additional Night Reward after cardmembers spend $30,000 in purchases in a calendar year. There’s also cell phone protection when the Aspire Card is used to pay the prior month’s wireless bill. Cardholders can be reimbursed (the lesser of) the repair or replacement costs following damage, such as a cracked screen or theft, for a maximum of $800 per device. A $50 deductible will apply to each approved claim with a limit of two approved claims per 12-month period. Finally, the Aspire Card offers complimentary National Car Rental® Emerald Club Executive® status.

Aspire Card Features Removed

Beyond removing the $250 Hilton Resorts credit, Aspire Cardholders lost the previous $250 airline credit on December 31, 2023. The biggest loss, however, is removing the Priority Pass™ Select membership. The removal of lounge access but the inclusion of CLEAR security fast pass is strange – helping you get through security extra fast so you can sit at your gate – and not in a lounge, despite the fee.

Related Article: The Ultimate Guide to Hotel Rewards Programs and Hotel Credit Cards

Featured image by Hilton

New TAP Miles&Go American Express® Card Launches with 60K Point Bonus

by Cory Santos
TAP Air Portugal Launches Its First U.S. Credit Card, The TAP Miles&Go American Express® Card from Cardless

Cardless and TAP Air Portugal, Portugal’s premier airline, are announcing the launch of the TAP Miles&Go American Express® Credit Card. The new airline card is the third of its kind from the San Francisco-based leader in financial technology, joining two LATAM Airlines Mastercard products launched last year. Here’s everything you need to know about Cardless’ latest – and TAP Air Portugal’s first – credit card offer:

TAP Air Portugal Launches Its First U.S. Credit Card

The TAP Miles&Go American Express® Credit Card is the latest offering from fintech Cardless. The card provides lucrative rewards to the dedicated TAP Air Portugal Miles&Go loyalty member – or anyone who flies often and prefers to travel with carriers in the Star Alliance group (including names like Air Canada, Asiana Airlines, Avianca, United Airlines, and more). The card earns the following rewards on eligible purchases:

  • 3X miles per $1 on flights & all other purchases from TAP Air Portugal
  • 2X miles per $1 on other key travel categories – hotels, car rentals & rideshares
  • 1X miles per $1 on all other purchases

The card has a $79 annual fee and includes various benefits such as preferred boarding, 2X TAP Premium Lounge access passes, and two extra free checked bags per year. Additionally, cardholders will earn 1X status miles for every 5X miles earned from spending, up to 10,000 miles per year. This can serve as a fast-track to both TAP Miles&Go Status, as well as Star Alliance silver or gold status.

A Thriving Travel Destination

Portugal has emerged as a popular destination thanks to its warm and sunny climate, delicious cuisine, stunning natural beauty, and affordability. The country became a haven for digital nomads during the COVID-19 pandemic and that popularity remains – so much so that the strategic partnership with Cardless to launch an airline credit card with Portugal’s flag carrier, TAP Air Portugal, made perfect sense.

“With Portugal growing as a popular travel destination, we are delighted to partner with TAP Air Portugal, a renowned name in the airline industry, to unveil this credit card to the U.S. market,” said Michael Spelfogel, President and Co-Founder of Cardless, in a press release. “This partnership underscores our commitment to delivering innovative, rewarding, and seamless financial solutions that empower consumers to explore the world.”

Sofia Lufinha, TAP’s Chief Customer Officer, added that “the launch of the TAP Miles&Go American Express card from Cardless is proof of our commitment to the U.S. market. We are thrilled about this partnership and believe this card will take the customer experience to another level. It’s my privilege to welcome all aboard this exciting new journey.”

About Cardless

Cardless, Inc. is a credit card company based in San Francisco, CA. Founded in 2019 by Stanford graduates Michael Spelfogel and Scott Kazmierowicz, Cardless is on the cutting edge of co-brand credit card product development. The company issues several impressive co-branded credit cards, including two other airline cards with LATAM (the LATAM Airlines Mastercard and LATAM Airlines World Elite Mastercard), plus offers with Simon Malls, Manchester United, and Liverpool FC.

Related Article: Maximize Rewards with the Air France Mastercard

Featured image by BestCards

How Can Divorce Hurt Your Credit Score?

by Cory Santos
Can divorce impact your credit score? Here is how to protect yourself financially when splitting up

Divorce is a challenging life event with far-reaching consequences, including your credit health. While divorce doesn’t directly impact your credit scores, the financial implications and decisions made during the process can significantly affect you. This comprehensive guide will explore how divorce can impact your credit and provide practical tips on protecting your credit during this challenging time.

Table of Contents

At a Glance

  • While divorce cannot impact your credit score, joint accounts and other co-mingled expenses can.
  • Ensure you close any joint accounts and remove your ex-spouse as an authorized user on any of your cards.
  • Remain in contact with your creditors to ensure they can provide you with the best options for your situation.
  • Rebuilding credit takes time, but it is possible.

Understanding the Relationship Between Divorce and Credit

It’s important to note that divorce does not directly impact your credit score. Your marital status is not a factor considered by credit reporting agencies when calculating your creditworthiness. However, the financial decisions made during a divorce, particularly regarding joint accounts and shared debts, can affect your credit health. Here’s why:

Joint Accounts

One of the most common ways divorces can impact your credit is through joint accounts. Joint credit accounts, such as credit cards, auto loans, or mortgages, might be held in both spouses’ names. While these accounts can provide convenience and shared responsibility during a marriage, they can become problematic during a divorce.

When joint accounts are not managed properly, missed payments or defaults by one spouse can negatively affect both individuals’ credit scores. Even if a divorce decree assigns responsibility for specific debts, lenders are not bound by this agreement and can still report missed payments by either party.

Due to the messy nature of divorce, your ex might ignore credit card bills or loans like mortgages. These actions might be because of oversight or feeling like they aren’t their problem until a judge decides. If the judge rules that these loans are held jointly, any missed payments will negatively impact both spouses’ credit scores.

Divorce Decrees

A divorce decree is a legal document that outlines the division of assets and debts between spouses. While it may assign responsibility for certain debts to one party, it does not absolve both parties from the contractual obligations with lenders. This means that even if your ex-spouse is ordered to pay a joint debt, if they fail to do so, it can still impact your credit if your name remains on the account.

It’s crucial to understand that divorce decrees do not bind lenders and can continue to hold both parties responsible for joint debts. You must take proactive steps to separate your finances and close joint accounts to protect your credit.

How to Protect Your Credit During and After Divorce

Late payments, vengeful partners, and debt are a potent combination. Fortunately, there are steps you can take to insulate yourself from the problem of credit card debt when you divorce. By following these steps, you can mitigate the potential negative impact on your credit health:

Close Joint Accounts

Closing joint accounts is crucial in protecting your credit during a divorce. Start by identifying all joint accounts, including credit cards, loans, and mortgages. Communicate with your ex-spouse and agree on each account’s best action. Where possible, close these accounts and instead open individual accounts in your name. This ensures that you have sole control over your finances and prevents any future financial entanglements.

Remove Authorized Users

Additionally, remove your ex-spouse as an authorized user on any accounts solely in your name. An authorized user is a person you add to a credit card account so that they can build credit off your hard work. If the primary cardholder has a good credit history, this can help the authorized user build or rebuild their credit.

But authorized users can cause harm to your credit should they act irresponsibly and run up a huge credit card bill – one you are on the hook for. Always ensure you are financially protected from acts of revenge by removing additional users on your credit cards.

Communicate with Your Creditors and Lenders

Communication is key in marriage, but it is especially crucial when divorce might harm your credit score. During a divorce, always communicate with all your creditors to provide updates on your changing financial circumstances. Inform them of your divorce and any changes in income, housing, or payment responsibilities. Ensure you keep all documentation, too – you might need to provide a copy of your divorce decree to support your request for account modifications.

Always be proactive in mentioning any potential financial issues. Lenders might be open to providing modifications based on your upcoming circumstances. They may be willing to work out a temporary solution or modify your payment terms to accommodate your new circumstances, including credit card forbearance.

Monitor Your Credit Reports

Regularly monitoring your credit reports and scores is vital at any time of the year, but especially so during a divorce. By staying informed about your credit status, you can quickly identify any errors or discrepancies arising from joint accounts or missed payments.

Take advantage of the free credit reports you are entitled to yearly from myfreecreditreport.com, offered by the three major credit reporting agencies – Experian, TransUnion, and Equifax. Review the reports thoroughly, paying close attention to any joint accounts or negative information that may impact on your credit. Your card issuer might also provide credit score insights through monthly credit monitoring and a free credit score – typically a FICO Score 8+ or VantageScore 3.0.

Related Article: What is a FAKO Score?

Continue to Manage Your Debt Payments

Divorce often leads to a redistribution of financial responsibilities and can result in increased financial strain. Managing your debt and payments effectively is essential to protect your credit. Consider the following strategies:

  • Create a comprehensive budget that reflects your new financial situation.
  • Prioritize your debts and focus on making payments on time.
  • Use the debt avalanche or debt snowball method.
  • If necessary, explore debt consolidation options to simplify your finances.
  • Seek professional financial advice to help you navigate this challenging period.

Get Professional Help if Needed

Divorce can be emotionally and financially overwhelming. Seeking professional help, such as a divorce attorney and a financial advisor, can provide valuable guidance and support throughout the process. These experts can help you understand the financial implications of your divorce, navigate complex legal matters, and develop a plan to protect your credit.

How to Rebuild Credit After Divorce

Rebuilding credit after divorce might seem daunting, but it can be done. Here are some steps to help you rebuild your credit:

Make payments on time Establish a strong credit foundation by making all payments on time. Paying all your bills on time can have a significant impact on your credit score.
Keep credit use low Keep credit utilization low by using credit sparingly and paying off balances in full. High credit utilization can negatively impact your credit score, as credit use accounts for 1/3 of your credit score. Aim to keep your credit utilization below 30% of your credit limit, as this is most recommended for boosting credit.
Monitor reports Monitoring your credit after divorce is just as important as when rebuilding your credit after separation. • Monitor your credit reports regularly to ensure accuracy and address any potential issues promptly.
Credit counseling If you are in bad fiscal shape after marriage consider credit counseling. Credit counseling servicescan help you create a debt repayment plan and negotiate with creditors.

Remember, rebuilding credit is gradual, so don’t get discouraged. It is perfectly normal to encounter difficulties along the way. The key is to remain vigilant and proactive and keep your spirits up – things will improve. It just takes time.

Refinance Debts to Reduce Payments

Debt consolidation is an excellent option for newly divorced individuals looking to improve their finances. Like late payments, some lenders may be willing to negotiate the terms of your debts, potentially even consolidating multiple accounts with the same bank. This process can help you reduce monthly payments. There are also private companies and products designed for debt consolidation. Companies like OppLoans and Smarter Loans provide personal loans that allow consumers to pay off debts with higher interest rates instead of paying one lower monthly rate.

The Upgrade Cash Rewards Visa® is similar, though in credit card form. The card provides credit limits of up to $20,000 and a competitive APR. The card works as a credit and installment loan, allowing users to pay down existing balances and then make one low payment in installments of between 12 and 60 months. This can take some pressure off your finances, protecting you from a divorce-related credit score plunge.

Summing It Up

Divorce can present unique financial hurdles and significantly impact your credit health. However, by understanding the potential risks, taking proactive measures to protect your credit, and seeking professional guidance, you can navigate this challenging period and emerge with your credit intact. Remember, rebuilding credit takes time, so be patient and diligent. Following these strategies ensures that your credit remains strong even during the difficult divorce process. Take control of your financial future and protect your credit health.

Related Article: Free Credit Monitoring from Card Issuers

Featured image by No_Name/Pixabay

How to Craft a Holiday Expenses Credit Card-Friendly Budget

by Cory Santos
how to create a holiday expenses budget using credit cards

Last updated on April 2nd, 2024

The holiday season is a time of joy and celebration but can also be a period of financial stress if you’re not careful. That’s why creating a holiday budget is crucial – by planning out your expenses ahead of time you can ensure a memorable holiday season without breaking the bank.  Here’s how you can slay your holiday expenses by creating a credit card-friendly budget that works for you.

Table of Contents

At a Glance

  • Take time to consider your past holiday expenses
  • Identify your most important spending categories
  • Find the right credit card to maximize your rewards
  • Keep re-evaluating your plans and fine-tune them as needed
  • Don’t forget about 2024 and your financial needs

Understanding Your Holiday Expenses

Before diving into the nitty-gritty of budgeting, it’s important to understand your holiday expenses clearly. Start by listing all the potential costs you might encounter during the holiday season. This can include gifts for family and friends, decorations, food and drinks, travel, and any additional activities or events you plan to participate in. By comprehensively understanding what you’ll be spending money on, you can ensure that your budget covers all the necessary items.

How to Create a Holiday Budget

Being proactive is the best way to stay ahead of your holiday costs. Getting an early start on your holiday planning ensures you won’t get caught out by unexpected expenses that can easily derail even the most carefully planned budget.

Assess Your Current Financial Situation

The first step to crafting your perfect holiday budget with credit cards is to examine your current financial situation closely. Take some time to review your income, ongoing expenses, and savings. This will give you a clear picture of how much you can spend during the holiday season. Consider any upcoming bills or obligations that you need to account for.

Beyond reviewing how your finances are shaping up, also examine the holiday seasons of years past and how they impacted your wallet. Look at your bank statements from last year to see where you spent the most, where you can identify wasteful spending, and if any unexpected expenditure occurred and where.

Lastly, divide your previous (and expected upcoming) spending into categories you can easily track. This will help to form a 

Identify Your Spending Priorities

Separating your “wants” from your “needs” is important. Identify your spending priorities by considering what brings you joy during the holiday season. Is it spending time with loved ones, or do you prefer creating memorable experiences? By determining your priorities, you can focus your budget on what matters most to you and cut back on unnecessary expenses. And remember, the purpose of a holiday budget is to help you make intentional choices that align with your values.

Set a Realistic Budget

Once you fully understand your financial situation and priorities, it’s time to set a realistic budget for your holiday expenses. The easiest way is to start by allocating a specific amount of money to each category on your holiday expense list. Be sure to prioritize your spending based on what matters most to you. If gift-giving is a top priority, allocate more of your budget to gifts. If you enjoy hosting holiday parties, allocate more funds to food and decorations. The key is to create a budget that reflects your personal preferences and values.

An easy way to set a realistic budget is to jot down your expected expenses and understand where your biggest costs lay. Try ballparking estimates for gifts, holiday travel (including flights, hotels, gas, insurance, and other considerations), food, and entertainment costs. Decorations (including stuff like wrapping paper, stockings, etc.), and more. Also, consider any unplanned work time, such as unpaid leave for travel.

50/30/20 Budget Rule

A good rule of thumb for creating a budget is the 50/30/20 rule. The 50/30/20 rule of budgeting is simple and states that 50% of your after-tax income should be allocated to your needs. Next, 30% of your income should go towards your wants or nonessentials. And the remaining 20% of your income should be split towards savings and debt repayments.

Here’s a visual breakdown of this budgeting hack:

% of budget 50% 30% 20%
Allocation Needs Wants Savings
Explenation Things like rent, mortgage, groceries, medical expenses, insurance, etc. Wants are your non-essentials like streaming subscriptions, gym memberships, dining out, vacation trips or travel, etc. Things like regular savings, emergency funds, investing, debt repayment, etc.

For more help with budgeting, check out our comprehensive Monthly Budget Calculator.

This budget planner effortlessly guides you through critical budgeting categories and helps you track all your monthly expenses. Whether you want to experiment with new strategies, pay off debt, buy your first home, or any other common plan, our Monthly Budget Worksheet will help you get the most out of your finances.

Compare Prices

To make the most of your holiday budget, it’s essential to do your research and compare prices. Take the time to shop around and look for the best deals. Compare prices online and in-store to ensure you get the best value for your money. Don’t be afraid to use coupons or take advantage of holiday sales and promotions. By being a savvy shopper, you can stretch your budget further and save significant money.

Using merchant offers from your card issuer is a great way to get value out of your budget by getting the lowest price possible. Issuers like Chase, Citi, American Express, and more offer additional discounts or exclusive rewards with select merchants. These offers can help you save money and earn cash back, miles, or other credit card rewards simultaneously.

Track Your Holiday Spending

Once you’ve set your budget and started making purchases, you’ll want to start keeping track of your holiday spending. Consider using budgeting apps or spreadsheets to help you track your spending easily (tools like Microsoft Excel or Google Sheets are great and simple). Record all your expenses, including receipts and online purchase confirmations, as this will allow you to stay on your budget and adjust as needed.

You can also count on your credit card issuer to provide detailed spending breakdowns. Ensure you consistently log in to your credit card accounts and review your transactions. Budgeting apps are another great source of information for tracking spending.

Manage Credit Card Usage

Credit cards can be helpful during the holiday season but can also lead to debt if not managed properly. Set clear guidelines for yourself to ensure that your credit card usage remains credit card-friendly. Stick to your budget and avoid making impulse purchases. If you use your credit card, make sure you plan to pay off the balance promptly.

Keeping your credit card balances low is essential to good credit health. As such, you should strive to keep your credit utilization (how much credit you actually use) low – ideally below 30%. 

Our helpful Credit Card Utilization Calculator can help you track your spending and see how much you are overspending:

Once you identify your spending and credit card priorities, use the right credit card to maximize rewards in those categories. Consider using credit card rewards or cash back programs to maximize the benefits of your holiday spending. By being responsible with your credit card usage, you can enjoy the perks without falling into debt.

Cash Back

Cash back credit cards offer an easy way to save money this holiday season. Unlimited cash back cards, like the Citi Double Cash, TD Double Up Card, or the Upgrade Cash Rewards Visa®, offer streamlined rewards on all purchases and are great for earning decent rewards on all your holiday spending. Other options, like the Chase Freedom Flex and Discover It Cash Back Card, offer quarterly categories to help you plan. Discover is especially convenient in the holiday season thanks to its Q4 2023 5% cash back categories, which include Amazon.com and Target – two holiday and last-minute expense standbys.

Other Rewards

If you are also planning for an active 2024, an airline miles or hotel rewards credit card might help you streamline your budget for the next year by earning rewards this holiday season. Other cards, like the Bilt Mastercard, earn points on rent, meaning it might be a sound option if you are a renter looking to stretch your budget this year.

Adjust Your Budget When Needed

Your budget must be flexible and adjusted as needed as the holiday season progresses. Unexpected, and last-minute, expenses may arise such as presents or grocery bills – or you may want to allocate more funds to a specific category. Regularly review your budget and make necessary changes to stay on track. Remember, a budget is a tool that should work for you, not against you. Being proactive and adaptable can ensure that your holiday budget remains credit card-friendly.

Additional Holiday Planning Strategies

In addition to crafting a credit card-friendly budget, there are other holiday planning strategies you can implement to enhance your financial well-being further.

  • Savings accounts: Consider setting up a separate savings account specifically for holiday expenses. This can help you save throughout the year and avoid financial stress during the holiday season.
  • Celebrate your way: Explore alternative ways to celebrate the holidays, such as organizing a gift exchange or volunteering your time. These strategies can help you create meaningful experiences without putting a strain on your budget. DIY decorations or homemade gifts, or choosing potluck-style dinners where everyone contributes a dish instead of a single host footing the bill, are other alternatives to consider.

Summing It Up

Crafting a credit card-friendly budget is a powerful tool that can help you slay your holiday expenses. Following the step-by-step guide outlined in this article, you can create a budget aligning with your financial goals and values. Remember to take stock of your current financial situation, set a realistic budget, prioritize your spending, research prices, cut costs, track your expenses, manage your credit card usage, and adjust your budget as needed. By implementing these strategies and being mindful of your spending, you can enjoy the holiday season without breaking the bank. Happy budgeting and happy holidays!

Check out more

Budgeting Advice

The 4 Best Credit Cards for Halloween

by Cory Santos
top credit cards for halloween candy costumes, decorations

Last updated on April 3rd, 2024

Spooky season is back, and with the return of fall the air is full of pumpkin spice and chilling breezes. It’s also time for Halloween – and that means stocking up on candy, decorations, costumes, and more. Before you hit the stores, check out our list of the best credit cards for Halloween 2023 – designed to ensure you get frighteningly good deals and rewards when shopping!

At a Glance



Bilt Mastercard
Sam’s Club® Mastercard®
Simon® American Express®
Current Build Card

What are the Best Credit Cards for Halloween in 2023?

Here is a rundown of our top picks for Halloween credit cards for this year’s spooky season:

Bilt Mastercard

Bilt Mastercard
Apply Now Terms & Conditions
Excellent-Good
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Excellent / Good
Mastercard Processing Network
None Annual Fee

Bilt Mastercard

  • 21.49%, 24.49%, or 29.49% variable based on creditworthiness and the Prime Rate Regular Purchase APR
  • 21.49%, 24.49%, or 29.49% variable based on creditworthiness and the Prime Rate Balance Transfer APR
  • 29.24% variable based on the Prime Rate Cash Advance APR

At a Glance

The Bilt World Elite Mastercard is a unique rewards credit card from Wells Fargo that lets users earn 1X on monthly rent payments, 3X on travel, 2X on dining, and offers impressive perks including Lyft and DoorDash statement credits – all for no annual fee.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • No annual fee
  • No foreign transaction fees
  • Earn 1X points on rent payments (up to 50,000 points each calendar year)
  • Earn 2X points on travel
  • Earn 3X points on dining
  • Regular Purchase APR: 21.49%, 24.49%, or 29.49% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR: 21.49%, 24.49%, or 29.49% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Introductory fee of either $5 or 3% of the amount of each balance transfer, whichever is greater, for 120 days from account opening. After that, up to 5% for each balance transfer, with a minimum of $5
  • Cash Advance APR: 29.24% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each advance, whichever is greater
  • Late Payment Penalty Fee: Up to $40
  • You rent and want to earn rewards on your monthly rental payments
  • You’re a member of Bilt Rewards
  • You don’t want to pay an annual fee
Bilt Mastercard

Bilt Mastercard

Terms & Conditions
Apply Now Terms & Conditions

Halloween is one of the scariest nights of the year – but if you rent, November 1st can be just as worrisome. Fortunately, the Bilt Mastercard takes some of the sting out of rent due with its monthly Rent Day promotion.

Bilt Mastercard cardholders earn double points per dollar on all purchases (excluding rent) on the 1st of every month, making the already rewarding credit card a points-accruing machine. As a reminder, the Bilt credit card earns 5X points per $1 spent on Bilt Dining purchases, 3X on all other dining purchases, 2X on travel, and 1X on rent payments (up to 50,000 points each calendar year). That means the Bilt Rent Day promotion can help you earn up to 11X points per $1 spent. Here’s how:

Action Rewards Total Points
Eating at an eligible Bilt Dining restaurant 5X per $1 5
Paying with the Bilt Mastercard 3X per $1 3
“Rent Day” bonus Additional 2X on all purchases* 6
11X per $1
*Bilt Dining not eligible for “Rent Day”

What makes Bilt such a versatile credit card is that it’s a first-of-its-kind card that lets you earn points on rent. Even better, you can use points to cover rent payments through Bilt or towards a future down payment. If you prefer more traditional award options, Bilt Rewards points transfer to several leading hotel loyalty and airline frequent flyer programs:

AAdvantage Aeroplan Emirates Skywards Flying Blue
IHG Rewards World of Hyatt Virgin Points

Other notable features of Bilt that make it a handy tool come Halloween include a mobile app with a built-in Bilt Wallet to help you save money on dining, track rewards, and ensure you are up-to-date on payments (being late on a payment can be very scary). There are no fees that will creep up on you either, so don’t fret about an annual fee or any foreign transaction fees should your travels take you abroad.

Sam’s Club® Mastercard®

Sam's Club® Mastercard®
Visit Card Site Terms & Conditions
Excellent-Good-Fair
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Excellent / Good / Fair
Mastercard Processing Network
None Annual Fee

Sam’s Club® Mastercard®

  • 20.9% or 28.9% variable based on creditworthiness and the Prime Rate Regular Purchase APR
  • 20.9% or 28.65% variable based on creditworthiness and the Prime Rate Balance Transfer APR
  • 25.90% or 31.65% variable based on creditworthiness and the Prime Rate Cash Advance APR

At a Glance

The Sam’s Club® Mastercard® offers Sam’s Club members everywhere up to 5% cash back on gas purchases, 3% back on dining, and more – all for no annual fee. From Synchrony Bank, the card also features no foreign transaction fees, Mastercard’s near-global acceptance, and special savings when shopping at Sam’s locations nationwide.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Earn 5% cash back on gas anywhere Mastercard is accepted (on first $6,000 per year, then 1%)
  • Earn 3% cash back on Sam’s Club purchases for Plus members. Club members earn 1% cash back
  • Earn 3% cash back on dining and takeout
  • Earn 1% cash back on other purchases at Sam’s Club and wherever Mastercard is accepted
  • No annual fee
  • Regular Purchase APR: 20.9% or 28.9% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR: 20.9% or 28.65% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $10 or 4% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 25.90% or 31.65% variable based on creditworthiness and the Prime Rate
  • Cash Advance Transaction Fee: Either $5 or 3% of the amount of each cash advance, whichever is greater
  • Late Payment Penalty Fee: Up to $40
  • You’re a current Sam’s Club or Sam’s Club Plus member
  • You frequently purchase gasoline with a credit card
  • You do’t want to pay an annual fee or foreign transaction fee
  • You spend heavily on dining each month
Sam's Club® Mastercard®

Sam’s Club® Mastercard®

Terms & Conditions
Visit Card Site Terms & Conditions

Sam’s Club is another great retailer for stocking up on Halloween supplies in bulk. The Sam’s Club® Mastercard® is the ideal credit card for the current Sam’s Club member who wants to maximize their savings when buying their body weight in Halloween candy – or anything else, for that matter.

The card earns 3% cash back on Sam’s Club purchases for Plus members, 3% back on dining and takeout, and 1% back on everything else. Even better, the card can also earn a bonus 5% cash back on gas anywhere Mastercard is accepted (on the first $6,000 spent per year. After that, gas purchases will earn 1% back).

The 5% back with the Sam’s Club Card is on par with many of the other nominees for “best gas credit card,” making it something of a no-brainer for existing and future Sam’s Club members who frequently fill up their gas tank and wants to save at the pump – in October, November, or whenever.

Simon® American Express® Credit Card

Simon® American Express® Credit Card
Visit Card Site Terms & Conditions
Excellent-Good
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Excellent / Good
American Express Processing Network
None Annual Fee

Simon® American Express® Credit Card

  • 21.24% to 31.24% variable based on creditworthiness and the Prime Rate Regular Purchase APR

At a Glance

The Simon® American Express® Credit Card is a unique retail credit card that lets you maximize your rewards at the mall and anywhere else Amex is accepted. The card, from digital-first fintech Cardless, earns up to 5% cash back on all Simon Mall purchases – all for no annual fee.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • No annual fee
  • No foreign transaction fees
  • Earn 5% at any Simon Mall, Mills, or Premium Outlet in the U.S.
  • Earn 1% on all your other card purchases
  • Regular Purchase APR: 21.24% to 31.24% variable based on creditworthiness and the Prime Rate
  • You love to shop – either in-person or online – for a wide variety of products
  • You’re brand-loyal to the type of stores you find in the mall
  • You prefer card rewards in the form of statement credits
  • You do’t want to pay an annual fee
Simon® American Express® Credit Card

Simon® American Express® Credit Card

Terms & Conditions
Visit Card Site Terms & Conditions

Halloween prep requires plenty of time – from finding the right costume and decorations for your party to rushing to get last-minute supplies. The Simon® American Express® from Cardless makes these hassles a breeze with a streamlined rewards program that maximizes your rewards at the mall.

Simon American Express cardmembers earn an impressive 5% cash back at any Simon Mall merchant or location. You’ll earn maximum rewards regardless of the store name or merchant category – if it’s at a Simon Mall, it’ll earn you 5% back. This broad bonus category applies to any Simon Mall, Simon Mills, or Simon Premium Outlet location nationwide. All other purchases with the card earn 1% cash back per $1 spent.

Cardless credit cards are digital-first card products, meaning you’ll have instant access to your card upon approval, so you can add it to your mobile wallet and start spending (and earning, and saving) right away. Cardless also removes many of the fees you typically associate with credit cards. You’ll pay no annual fee, no foreign transaction fees when shopping abroad, and no fees on late payments, over-the-limit warnings, or returned payments.

Current Build Card

Current Build Card
Apply Now Terms & Conditions
Good-Poor-Fair
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Good / Poor / Fair
Visa Processing Network
$0.00 Annual Fee

Current Build Card

  • 0.00% Regular Purchase APR
  • 0.00% Cash Advance APR

At a Glance

The Current Build Card is a no annual fee secured card that builds credit while earning up to 7X points and 4% APY on savings. The card features no account minimums, no overdraft fee, and spending insights to help your build credit.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Build credit with no minimum deposits and no annual fee
  • Up to 4% APY on savings
  • Earn up to 7X points on purchases with over 14,000 merchants
  • No overdraft fee
  • Regular Purchase APR: 0.00%
  • Cash Advance APR: 0.00%
  • Annual Fee: $0.00
  • Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
  • Late Payment Penalty Fee: 3% of any Total Due balances outstanding and past due for two or more billing cycles
  • You are new to credit and want an easy way to begin building credit
  • You plan on utilizing Current’s spending insights to help you save money
  • You don’t want to pay an annual fee to earn rewards
Current Build Card

Current Build Card

Terms & Conditions
Apply Now Terms & Conditions

Ghosts and goblins are scary – but they’re not nearly as terrifying as bad credit and the impacts it can have on your financial well-being. Fortunately, cards like the Current Build Card are useful for building credit, earning solid rewards, and even padding your savings with up to 4% APY with its Current Save account option.

The Current Build Card is similar to other credit builder options, like Chime and Self, in that Current requires a Current deposit account before applying for the card. Fortunately, like Self and Chime, Current’s savings and spending accounts are versatile, robust, and free. You can build credit by making on-time payments and keeping your credit utilization low, and Current can help your score grow while earning rewards simultaneously.

Current Build earns up to 7X points per $1 spent with select merchants – currently numbering over 14,000+ in the United States. While this reward structure isn’t ideal (requiring a good deal of research before shopping), it’s a generous total and far above most subprime or other credit builder credit cards.

Other noteworthy banking perks with Current include:

  • No overdraft fees.
  • Current removes the holds gas stations put on your account to ensure payment, so your money is available to you instantly.
  • Spend smarter with money management tools that help you track your spending to budget your money better with personalized spending insights.

Suddenly, credit building isn’t so scary, huh?

Browse more of the “Best of” from BestCards

Featured image by Myriams-Fotos / PixaBay

United Airlines Offering Bonus Miles for World Food Day

by Cory Santos
United Airlines Offering Bonus Miles for World Food Day

Last updated on January 2nd, 2024

Chase, United Airlines, and Visa want to make a difference for this year’s World Food Day. Running through November 30, 2023, United MileagePlus® credit card members can earn a bonus of up to 10X miles per $1 spent on donations to any of six organizations helping to fight global hunger and help feed families worldwide.

Donate to Select Charities and Earn Bonus Miles on World Food Day

In honor of World Food Day (October 16), United Airlines, Chase, and Visa are again joining forces to encourage and reward cardmembers who donate to select non-profit organizations supporting the fight against world hunger. From October 16 through November 30, 2023, United MileagePlus® cardmembers will earn up to 10X miles per $1 spent with eligible organizations. Here’s how this bonus structure works out:

  • Earn 5X total miles for each $1 spent on the first $500 in total donations
  • Earn 10X miles total for each $1 spent on the next $1,000 in donations

This limited-time offer applies to up to a maximum of $1,500 in total donations per card and applies to the following charitable organizations:

  • Capital Area Food Bank is the anchor of the hunger relief infrastructure in the DC, Maryland, and Virginia regions – providing more than 50 million meals to these communities.
  • Community Food Bank of New Jersey is the leading anti-hunger and anti-poverty organization in New Jersey.
  • Feeding America is the nation’s largest domestic hunger-relief organization—a powerful and efficient network of 200 food banks nationwide.
  • Hawaii Food Bank nourishes ohana today and works to end hunger tomorrow – with more than 200 food agencies available for support.
  • Houston Food Bank is America’s largest food bank in distribution, leading hunger relief in 18 southeast Texas counties.
  • Second Harvest of Silicon Valley distributes nutritious food to those in need in nearly every neighborhood in Silicon Valley.

Eligible United MileagePlus® Credit Cards

As mentioned, this new promotion of 5X miles/$1 on select charitable donations to fight global hunger applies to all United credit cards from Chase. Here are the eligible consumer and small business credit cards:


United Gateway Card
United℠ Explorer Card
United Quest℠ Card

United Club℠ Infinite Card
United℠ Business Card
United Club℠ Business Card

This offer is great for anyone looking to rack up some extra miles before the holiday season officially arrives. Earning up to 10X miles per dollar on $1,500 in spending is more than enough to help accelerate your MileagePlus miles towards an award fare or cabin upgrade. Plus, helping those in need will do some good for the world while helping you at the same time.

United’s personal credit card portfolio is broad and provides solid value for everyone, from the occasional traveler to the freelance road warrior:


Gateway
Explorer
Quest℠
Club℠
Annual fee None $95 ($0 first year) $250 $525
Rewards 2X on United and gas purchases, 1X on all else 2X on United, dining, hotels booked directly, 1X on all else 3X on United purchases, 2X on travel, dining, and streaming, 1X on all else 4X on United purchases, 2X on travel, 1X on all else
In-flight savings 25% 25% 25% 25%
Free bags - 1st bag 1st & 2nd bag 1st & 2nd bag
TSA PreCheck - Yes Yes Yes
Lounge access - United Club (2X/year) - United Club (unlimited)

Official Terms & Conditions

As with any promotion, there are official terms & conditions regarding the eligible bonus miles and charitable organizations. For example, local chapters may not be eligible, so please donate directly to the charity’s parent organization.

Additionally, purchases must post to your account by the last day of the promotional period to qualify. Total miles shown are the maximum you will earn on those purchases during the promotion, regardless of what you already earn in your rewards program. Please allow up to eight weeks after qualifying purchases post to your account for miles to post to your account.

Related Article: The Ultimate Guide to Dining Credit Cards

Featured image by Pexels from Pixabay

Free Credit Monitoring from Card Issuers

by Cory Santos
credit monitoring credit card company and bank

Credit scores play a vital role in everyday life. From purchasing a home to getting a new credit card, these key numbers help shape our financial lives. There are multiple services that can help you monitor your credit score’s health – but they often come at a cost. So, what’s the best way to keep an eye on your credit score without breaking the bank? Here are free credit score monitoring services offered from leading banks and card issuers.

At a Glance

  • Most major credit card issuers provide complimentary access to your credit score each month.
  • Accessing your FICO Score is more beneficial than your VantageScore, as FICO is the scoring model most used by credit card issuers.
  • Free credit monitoring services are a great way to stay safe from fraud, missed payments, and more.

Table of Contents

Why Is Monitoring Your Credit Score So Important?

Keeping up to date with your credit score is essential for maintaining a healthy financial profile. Credit monitoring is even more critical for those rebuilding their credit because it helps instill confidence and reinforce the knowledge required to boost a bad credit score.

Other reasons to check credit scores regularly include:

  • Protection from fraud
  • Ensuring information on credit reports is accurate
  • Seeing growth over time
  • Understanding what types of credit card offers match a credit profile

What Information is On Your Credit Report?

Credit reports contain a huge amount of information. Your full credit report (regardless of whether it is provided by Experian, TransUnion, or Equifax, contains a huge amount of information, including public records, personal information, suspicious activity, and more.

Here is the information found on your credit report:

Personal Credit Collection
Full name Current accounts Liens
Past names or aliases Historic accounts Bankruptcies
Birthdate Lenders Foreclosures
Addresses (current & past) Balances Civil judgments
Phone number Payment history Criminal judgments
Social Security Number Inquiries

Can Free Credit Score Monitoring Protect You From Fraud?

Just because your credit score and credit monitoring can be accessed for free does not mean they do not provide value and protection. Chase Freedom Journey, JPMorgan Chase’s free credit monitoring platform, offers 14 separate credit monitoring alert settings, providing a free-but-mighty tool for staying on top of credit card fraud. 

Many free credit score features provide a lesser level of automation and control – but still offer insights into the information on your credit report. Additionally, these services can work in conjunction with other tools, such as Norton LifeLock.

How Do Credit Monitoring Services Work?

Free credit monitoring as a service allows you to check your basic credit score without any costs or impact to it. Some issuers provide access to TransUnion and VantageScore, while many offer FICO 8, FICO 9, or even FICO 10 access. FICO 8, the older version of the FICO Score formula, is the most commonly provided form of free credit score from banks. 

Typically, free credit monitoring services are accessible on the bank or lender’s website or mobile app – as well as on the monthly credit card statement that is mailed to you (either via email or snail mail).

Credit monitoring services usually include a variety of information. This credit information is often more than just your credit score, including fraud alerts, factors impacting your score, and more.

Credit Score Services from Major Credit Card Issuers

Multiple credit card issuers and banks provide credit monitoring tools to their consumers. Here are some of the tools available from a number of leading lenders:

American Express

American Express offers a free credit monitoring and education service called MyCredit Guide. The guide is free to use and does not require an American Express credit card account to join.

The MyCredit Guide service is like others in that users can get their VantageScore credit score and receive alerts when there are changes to their credit report. The service also allows users to set “Score Goals” and monitor their progress towards those goals.

When a user opts into the Score Goals program, they:

  • Choose their credit score goal.
  • Receive personalized recommendations to help them reach their set credit goals.
  • Track their progress with every login.

Optional CreditSecure

American Express also offers an optional credit and identity fraud monitoring tool called CreditSecure®. This service – previously $16.99 per month but now climbing to $19.99 monthly – helps protect you via identity monitoring tools, real-time alerts, and more. If your personal information is ever used without your consent, American Express’ dedicated fraud representatives are there to provide you with the support you need.

Enrolling in CreditSecure provides a monthly FICO® 8 score, monthly credit bureaus from all three bureaus (Experian, Equifax, and TransUnion), dark web monitoring, and more. Here is a rundown of current CreditSecure features from Amex:

Online Privacy Manager Scans and monitors your personal information on 30+ people-finder sites and facilitates the removal of personal information
Social Media Monitoring Alerts you if your social media content could contain privacy and reputational risks, along with recommendations for how to reduce your security risks
Identity Theft Insurance Provides coverage for up to $1,000,000 for certain out-of-pocket expenses associated with restoring your stolen identity
Financial Account Takeover Alerts you in the event of financial account fraud and activity on your checking, savings, IRA, and CD accounts
Dormant Account Alerts Alerts you when an account on your Experian® credit report becomes active after a six-month history of zero balance

Bank of America

Bank of America provides a free FICO Score Program for eligible Bank of America credit cardholders and mobile banking customers. The FICO Score Program provides access to a once-monthly updated FICO score free of charge with eligible Bank of America credit cards, including the Bank of America® Travel Rewards Credit Card, the Bank of America® Customized Cash Rewards Credit Card, and BankAmericard®.

Bank of America’s credit monitoring and educational tools include credit builder resources called Better Money Habits®. Better Money Habits helps you to answer any tough financial questions and get the information you need about your credit score. Here is everything you can expect from Bank of America and its credit monitoring tools:

  • Free FICO Score: Bank of America provides its credit card customers with free access to their FICO credit score, which is updated regularly.

  • Credit Education: The bank offers educational resources to help customers understand the factors affecting their FICO score and how to improve it.

  • Credit Report Access: While Bank of America primarily offers FICO score access, customers can also access their credit report, helping them review their credit history.

Capital One

The Capital One credit service, CreditWise, bears many similarities to Amex’s MyCredit Guide. Like Amex, Capital One allows anyone to check their credit score, keep up with changes to their credit report, and monitor their credit information for fraud.

CreditWise also provides a simulator, which allows users to see the impact of specific changes to their spending or credit repayment habits.

Here’s everything you can expect from CreditWise from Capital One:

  • Free Credit Score: CreditWise provides customers’ VantageScore 3.0 credit score, updated weekly. 

  • Credit Report Monitoring: CreditWise monitors customers’ TransUnion credit report for any significant changes. They’ll receive alerts if there are new accounts opened in their name or if there are inquiries on their credit report.

  • Credit Factors Analysis: It provides insights into the factors influencing one’s credit score, helping to understand how financial behaviors affect one’s credit.

  • Simulator Tools: CreditWise offers simulators that allow users to see how specific credit actions, such as paying down debt or opening new credit accounts, may impact their credit score.

  • Dark Web Monitoring: CreditWise scans the dark web for users’ Social Security Number to alert them if it’s found in a compromised location.

Chase

Chase’s “My Credit Journey” is a free credit score service by JPMorgan Chase. The program allows both Chase and non-Chase cardholders to check their VantageScore 3.0 credit score and monitor any changes to their report. Users can also increase their credit knowledge through Chase’s credit resources and see what card offers might be available for Chase’s credit profile.

Here’s how it works:

Customers with an eligible Chase account can access it online or through the Chase mobile app. Upon accessing the tool, you’ll see your VantageScore 3.0 credit score, updated weekly and giving you a snapshot of your credit health. You can access many impressive features to promote financial welling from there. These features include:

Summary snapshot My Credit Journey provides a summary of your credit health, highlighting key factors that are affecting your credit score. This feature helps you understand what’s contributing to your credit score trends, such as payment history, credit utilization, and more.
Score Simulator Chase’s Score Simulator allows you to experiment with different financial scenarios. For example, you can see how paying off a certain amount of debt or opening a new credit account might impact your credit score.
Credit monitoring Chase’s program won’t provide complete credit monitoring per se, but it does notify you of significant changes in your credit report, such as new accounts or inquiries.
Resources Chase My Credit Journey provides helpful articles and tips to help you improve your credit health and better understand the factors that affect your credit score.

Based on your credit profile, Chase may provide personalized recommendations and tips on how to improve your credit score.

Citi

Citibank does not provide a custom service like American Express or Chase, but it does provide free FICO Score access for its banking and credit card customers. Citi’s credit score service users FICO 8, and despite it being an older FICO Score model, the information is essentially the same, meaning Ciit credit cardholders enjoy the same basic credit monitoring services as customers from other banks.

Discover

Credit Scorecard is Discover’s monitoring and credit education tool. Like the others, Discover Credit Scorecard doesn’t require a Discover card to join. It also provides a user’s FICO Score and a wealth of credit score informational resources. Discover Credit Score shows you a range of information for free, including your revolving credit utilization, average age of credit, inquiries, missed payments, and more. The Scorecard is available to all Discover credit cardholders. 

It’s worth noting that you may not see your Credit Scorecard, including your FICO® Score if:

  • You have mismatched or missing information, like an address change that hasn’t been updated with Discover or TransUnion®.
  • Your account status is abandoned, bankrupt, fraud, lost or stolen, closed, revoked or charged off.
  • You have a foreign address.
  • Your credit history is too new.
  • You have opted out.
  • You’ve had no account activity for 180 days.

U.S. Bank

U.S. Bank offers a service called CreditView Dashboard. The bank provides free access to users’ VantageScore from TransUnion through this dashboard on its credit cards, debit cards, and mobile banking. 

The CreditView Dashboard is designed for personalization towards your credit goals, with features designed to help you better understand the key aspects of financial and credit well-being, timely information to keep you informed about the information you need to stay financially healthy, and more:

Personalization TransUnion and U.S. Bank's CreditView offer the ability to personalize the dashboard to your needs, including the tools and color palette that suits you.
Credit education The service offers a huge assortment of credit education resources to help improve your financial and credit literacy and steer you towards a brighter financial future.
Credit alerts Credit alerts notify you if there are missed payments, credit inquiries, and other critical account information.
Credit score Monthly access provided to view your updated VanatgeScore 3.0 credit score.
National comparison CreditWise provides a unique tool that shows you how your current credit profile compares to the national average. This feature can help boost your confidence as you watch your score climb.
Monthly trends CreditWise provides a quick snapshot of your latest credit score trends, highlighting what you are doing right – and where there is room for improvement.
Score simulator The score simulator tool lets you test how specific actions would impact your credit score.

Wells Fargo

Wells Fargo offers a free monthly FICO score to its customers. To be eligible, you must have a deposit account, loan, or credit card with the bank. Credit Close-Up is complimentary to Wells Fargo online customers and is accessible via the mobile app or the Wells Fargo website.

The Wells Fargo Credit Close-up program provides helpful tools to keep you safe. These include:

  • FICO Score access: Enrolled members enjoy complimentary access to their FICO® Score 9 from Experian® each month.
  • Credit alerts: Personalized credit monitoring alerts if Experian® detects an event that may impact your credit score.
  • Credit report access: Credit Close-Up provides access to your Experian® credit report, giving you an in-depth look at your credit.
  • Personalized tips: The service provides personalized score insights and credit tips to help you maintain or improve your score.

Related Article: What is the Longest 0% APR Credit Card?

Featured photo by Matthew Henry / Burst

Boost Your Credit with Amex Score Goals & MyCredit Guide

by Cory Santos
amex-introduces-score-goals-credit-monitoring-tool score goals mycredit guide

American Express allows credit-conscious consumers to monitor their credit through its Score Goals tool. Recently, the lender changed its MyCredit Guide program and the optional CreditSecure identity protection service. Here’s what you need to know about Amex’s Score Goals tool, the changes, and whether it’s worth signing up.

What are Amex MyCredit Guide & Score Goals?

American Express’s Score Goals tool is part of its overall MyCredit Guide service. The tool is a “new way to help you achieve your credit score goals,” according to the card issuer. So, how does Score Goals work? Amex’s MyCredit Guide is available to anyone – whether or not you are currently an American Express cardmember.

Once you enroll, your free credit score and credit report will be available to view anytime. Previously, Amex offered a free TransUnion VantageScore 3.0, but now members can access their Experian FICO Score, as well. FICO is the credit scoring model used by more banks than any other, meaning you’ll have a better understanding of your credit health.

And, to help boost your credit knowledge, you’ll also have access to free tools like the Credit Score Simulator and Score Goals to help you build positive credit habits that support a healthy credit score.

How to Enroll in MyCredit Guide & Score Goals

Signing up for the free MyCredit Guide is simple. Users first create an account with American Express MyCredit Guide. As mentioned, this service is available to current Amex card and non-cardholders alike. Signing up for MyCredit Guide requires your personal information, including your Social Security Number (SSN).

From there, setting up your account involves the following:

  • Choose your credit score goal.
  • Receive personalized recommendations to help you reach your set credit goals.
  • Track your progress with every login.

Amex states that the recommendations from Score Goals are crafted based on the “paths millions of others took to reach their credit goals.”

Optional CreditSecure

American Express also offers an optional credit and identity fraud monitoring tool called CreditSecure®. This service – previously $16.99 per month but now climbing to $19.99 monthly – helps protect you via identity monitoring tools, real-time alerts, and more. If your personal information is ever used without your consent, American Express’ dedicated fraud representatives are there to provide you with the support you need.

Enrolling in CreditSecure provides a monthly FICO® 8 score, monthly credit reports from all three bureaus (Experian, Equifax, and TransUnion), dark web monitoring, and more. Here is a rundown of current CreditSecure features from Amex:

Online Privacy Manager Scans and monitors your personal information on 30+ people-finder sites and facilitates the removal of personal information
Social Media Monitoring Alerts you if your social media content could contain privacy and reputational risks, along with recommendations for how to reduce your security risks
Identity Theft Insurance Provides coverage for up to $1,000,000 for certain out-of-pocket expenses associated with restoring your stolen identity
Financial Account Takeover Alerts you in the event of financial account fraud and activity on your checking, savings, IRA, and CD accounts
Dormant Account Alerts Alerts you when an account on your Experian® credit report becomes active after a six-month history of zero balance

How Do MyCredit Guide and Score Goals Compare to Other Credit Monitoring Services?

There are countless credit monitoring tools on the market today besides Score Goals. Some popular options include CreditWise from Capital One, Credit Karma, and MyFICO.

These services all offer many of the same features, including:

  • Free credit score access
  • Credit score simulators
  • Free credit report access once per year

Amex’s Score Goals tool is another example of an already crowded marketplace. However, it offers value for those looking for more advice on repairing their credit score. A credit repair tool from Amex is a great way to gauge your score’s improvement – especially if a premium card, like the Amex Green Card or Gold Card, is a long-term goal.

Related Article: The Ultimate Guide to Bilt Rent Day

Credit Cards That Don’t Require a Preapproval Mail Offer

by Cory Santos
credit-cards-that-dont-require-a-preapproval-mail-offer

When a popular credit card for subprime or near-prime scores is unavailable because you can’t seem to get a preapproved mail offer, don’t worry. While one card may be out of reach, there are comparable credit builder cards out there that provide preapproval or online pre-qualification – and here are some of the best options.

At a Glance


Aspire® Cashback Rewards Card
Surge® Platinum Mastercard®
Fortiva® Mastercard®
OpenSky® Plus Secured Visa®

What Is a Credit Card Mail Offer?

Seeing “you’re preapproved” for a credit card in the mail can be exciting – especially if you have bad credit. These mail offers are presorted based upon partial credit information that banks purchase from third parties – the three major credit bureaus (Equifax, Experian, and TransUnion). The thought of banks buying your information might sound alarming – but it isn’t as invasive as it sounds. Presorted mail offers don’t mean “guaranteed approval,” but instead that you are a good match for the product (and have good approval odds).

Unsecured Sub and Near-Prime Credit Cards with Preapproval

While the Mercury Mastercard is one of the most popular credit cards for improving credit, it isn’t available to everyone. A similar issue also exists with the Avant Card – another subprime option. Fortunately, numerous other credit cards for fair credit scores don’t require a presorted offer but still offer preapproval or pre-qualification.

Aspire® Cashback Rewards Credit Card

Aspire® Cashback Rewards Credit Card
Apply Now Terms & Conditions
Fair-Poor
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Fair / Poor
Mastercard Processing Network
As low as $85 Annual Fee

Aspire® Cashback Rewards Credit Card

  • *See Terms Regular Purchase APR
  • *See Terms Balance Transfer APR
  • *See Terms Cash Advance APR

At a Glance

You can earn up to 3% cash back while building credit with The Aspire® Cashback Rewards Credit Card. The card, from the Bank of Missouri, provides unlimited 3% cash back on gas station, grocery store, and utility purchases and 1% back on all other eligible purchases.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Earn a 3% Cash Back Reward on Gas, Groceries and Utilities‡
  • Earn a 1% Cash Back Reward on all other eligible purchases‡
  • Up to $1,000 credit limit subject to credit approval*
  • Pre-qualify without affecting your credit score
  • No security deposit
  • Good anywhere Mastercard® is accepted
  • Free access to your credit score †
  • $0 fraud liability**
  • *Pre-qualified means that information in your credit report indicated that you met certain pre-established credit criteria. Final approval is not guaranteed if you do not meet all applicable criteria (including adequate proof of ability to repay). Income verification through access to your bank account information may be required.
  • † Your credit score will be available in your online account 60 days after your account is opened. (Registration required) The free VantageScore 4.0 credit score – provided by TransUnion® is for educational purposes only and may not be used by The Bank of Missouri (the issuer of this card) or other creditors to make credit decisions.
  • ‡You will earn a 3% cash back reward on eligible gas, grocery, and utility purchases/payments and you will earn a 1% cash back reward on all other eligible purchases, which are for goods and services minus returns and other credits. Rewards will be earned when the transaction posts to your account and will remain as long as the purchase is not returned. Purchases do not include fees or interest charges, balance transfers, cash advances, or purchases of other cash equivalents. Rewards are not earned for pending transactions
  • **Fraud liability subject to Mastercard® rules
  • Regular Purchase APR: *See Terms
  • Balance Transfer APR: *See Terms
  • Balance Transfer Transaction Fee: 3% of the amount of each transfer
  • Cash Advance APR: *See Terms
  • Cash Advance Transaction Fee: Either $5 or 5% of the amount of each cash advance, whichever is greater
  • Annual Fee: As low as $85
  • Foreign Transaction Fee: 3% of each transaction amount in U.S. dollars
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $40
  • You want to build credit while spending on monthly utilities and purchases
  • You want quick pre-qualification to know if you can be approved
  • You plan to pay your balance in full every month
  • You prefer unsecured credit to a security deposit requirement
Aspire® Cashback Rewards Credit Card

Aspire® Cashback Rewards Credit Card

Terms & Conditions
Apply Now Terms & Conditions

The Aspire® Cashback Rewards Credit Card provides the cash back rewards and credit-building features of the Mercury Card – just without the mail offer requirement. Cardholders earn 3% cash back on gas, grocery, and utility bill payments, plus 1% back on all other purchases using their card. Those bonus categories are excellent and provide significant value for money for anyone on a credit journey wanting to earn cash back rewards to help pay down balances.

Aspire also offers quick, online pre-qualification before applying. While pre-qualification and preapproval are not the same, pre-qualifying for Aspire means no harm to your credit score. Remember that income verification through access to your bank account information may be required when applying.

This combination makes the Aspire Mastercard a strong contender versus the typical “credit builder” options – most notably, the Credit One® Platinum Visa for credit building:

Aspire® Cashback Credit One® Platinum
Bonus categories Gas, groceries, utilities Gas, groceries, utilities
Bonus cash back rate 3% back 1% back
All other purchases 1% back N/A
Pre-qualify Yes Yes
Initial credit $350 $300
Network Mastercard Visa
Annual fee $49 to $175 the first year; up to $49 thereafter $75 for the first year. After that, $99 annually (Billed at $8.25 per month)

Surge® Platinum Mastercard®

Surge® Platinum Mastercard®
Apply Now Terms & Conditions
Fair-Poor
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Fair / Poor
Mastercard Processing Network
$125 Annual Fee

Surge® Platinum Mastercard®

  • 35.90% (Fixed) Regular Purchase APR
  • See website for details* Cash Advance APR
  • See website for details* Intro Purchase APR

At a Glance

The Surge Mastercard® can be an ideal pre-qualification option if you need to repair or continue building your less-than-perfect credit score. Though it bears annual and maintenance fees, it does, however, provide attractive perks for qualified cardholders.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Up to $1,000 Initial Credit Limit • See if you Pre-Qualify with No Impact to your Credit Score • Less than perfect credit? We understand. The Surge Mastercard is ideal for people looking to rebuild their credit. • Unsecured credit card requires No Security Deposit • Perfect card for everyday purchases and unexpected expenses • Monthly reporting to the three major credit bureaus • Use your card everywhere Mastercard is accepted at millions of locations • Enjoy peace of mind with Mastercard Zero Liability Protection for unauthorized purchases (subject to Mastercard guidelines) • Apply with Confidence! There is no impact to your credit score if you’re not approved. See terms.
  • Intro Purchase APR: See website for details*
  • Regular Purchase APR: 35.90% (Fixed)
  • Cash Advance APR: See website for details*
  • Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
  • Annual Fee: $125
  • Foreign Transaction Fee: 3% of each transaction in U.S. dollars
  • Late Payment Penalty Fee: Up to $41
  • Return Payment Penalty Fee: Up to $41
  • You have fair or poor credit and need to build or repair your credit ratings
  • You prefer a pre-qualification card that will immediately inform you whether you would be approved prior to applying
  • You don’t want a secured credit card or can’t afford a security deposit
  • You want a card that reports activity to the three major credit bureaus
  • You want the security of an optional credit protection program
Surge® Platinum Mastercard®

Surge® Platinum Mastercard®

Terms & Conditions
Apply Now Terms & Conditions

The Surge® Platinum Mastercard® is another card that requires no pre-screened offer before applying. The Surge Card is a full-fledged Mastercard credit card with a unique party trick – it instantly doubles your credit limit. Celtic Bank, the issuer of the Surge credit card, will double your starting credit limit of up to $1,000 simple for making your payment on time each month. Simply make your first six monthly minimum payments on time and Surge will raise your credit limit – doubling your purchasing power up to $2,000.

Fortiva is another card program that seeks to help consumers build credit while offering versatile, quality card products. The Fortiva® Mastercard® offers quick pre-qualification, a fast application decision, and great benefits designed to give you more flexibility—and purchasing power.

Fortiva also has a rewards card option, similar to the Aspire Card, though you apply for both cards through the same application. The Fortiva Cash Rewards version also provides cardholders up to 3% cash back on eligible purchases, with the same categories as the Aspire: gas, utility bills, and hroceries.

Other Unsecured Credit Cards with Pre-Qualification


Indigo® Mastercard®
FIT® Mastercard®
Reflex® Mastercard®

Secured Credit Cards with Preapproval

Secured credit cards differ from traditional ones in that they require a security deposit to open an account and act as the credit line. Because of this deposit requirement, secured cards are much easier to get approved for versus unsecured credit cards. This deposit feature also means that many secured credit cards offer preapproval or pre-qualification –certainly not mail offers.

opensky® Secured Visa® Credit Card

opensky® Secured Visa® Credit Card
Apply Now Terms & Conditions
Poor-No Credit Required
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Poor / No Credit Required
Visa Processing Network
$35 Annual Fee

opensky® Secured Visa® Credit Card

  • 23.89% (variable) Regular Purchase APR
  • 23.89% (variable) Cash Advance APR

At a Glance

The opensky® Secured Visa® is a secured credit card that offers requires a low minimum deposit and features no credit checks for approval. The card, issued by Capital Bank, provides an easy route to better credit by offering credit limits as low as $200, a moderate fixed-rate APR, and a reasonable $35 annual fee.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Earn up to 10% cash back on everyday purchases
  • No credit check required – 89% approval rate with zero credit risk to apply!
  • Boost your credit score fast—2 out of 3 opensky® cardholders see an average increase of 47 points after 6 months
  • Track your progress with free access to your FICO® score in our mobile app
  • Build your credit history with reporting to all three major credit bureaus: Experian, Equifax, and TransUnion
  • Seamless payments—add your card to Apple Pay, Google Pay, and Samsung Pay
  • Start with just $200—secure your credit line with a refundable deposit
  • Fast and easy application—apply in minutes with our mobile-first experience
  • Flexible payment options—pick a due date that works for you
  • More time to fund—spread your security deposit over 60 days with layaway
  • Join 1.6 million+ cardholders who have used opensky® to build better credit!
  • Regular Purchase APR: 23.89% (variable)
  • Cash Advance APR: 23.89% (variable)
  • Cash Advance Transaction Fee: Either $6 or 5% of the amount of each cash advance, whichever is greater.
  • Annual Fee: $35
  • Foreign Transaction Fee: 3% of each transaction in U.S. dollars
  • Late Payment Penalty Fee: Up to $41
  • Return Payment Penalty Fee: Up to $25
  • Minimum Deposit Required: $200
  • You’re struggling to get accepted for other secured credit cards
  • You don’t have a credit history
  • You have bad credit and want to improve your credit score
  • You have a large deposit and want a quick pick-me-up for their credit score
  • You want access to a useful knowledge base of credit information and resources
opensky® Secured Visa® Credit Card

opensky® Secured Visa® Credit Card

Terms & Conditions
Apply Now Terms & Conditions

The OpenSky® Secured Visa® is one of the most popular names in credit building, thanks to its OpenSky® Secured Visa®. The simple, no-nonsense, secured card is designed to help you build credit (either for the first time or after a negative financial event), thanks to a manageable APR on purchases, a low annual fee, and more. The OpenSky knowledge base offers a range of articles on building credit. These topics include how to receive a free copy of your credit score, how credit scores are calculated, and tips on boosting credit.

opensky® Plus Secured Visa® Credit Card

opensky® Plus Secured Visa® Credit Card
Apply Now Terms & Conditions
Fair-Poor-No Credit Required
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Fair / Poor / No Credit Required
Visa Processing Network
$0 Annual Fee

opensky® Plus Secured Visa® Credit Card

  • 28.24% (Variable) Regular Purchase APR
  • 28.24% (Variable) Cash Advance APR

At a Glance

Building credit without hidden fees is a breeze with the opensky® Plus Secured Visa® Credit Card. You can build credit, graduate to unsecured credit, and boost your financial knowledge base while paying $0 in annual fees.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • No annual fee – keep more money in your pocket!
  • No credit check required – 89% approval rate with zero credit risk to apply!
  • Earn up to 10% cash back on everyday purchases
  • Boost your credit score fast—2 out of 3 opensky® cardholders see an average increase of 47 points after 6 months
  • Track your progress with free access to your FICO® score in our mobile app
  • Build your credit history with reporting to all three major credit bureaus: Experian, Equifax, and TransUnion
  • Seamless payments—add your card to Apple Pay, Google Pay, and Samsung Pay
  • Start with as little as $300 – Secure your line with a refundable security deposit
  • Fast and easy application—apply in minutes with our mobile-first experience
  • Flexible payment options—pick a due date that works for you
  • More time to fund—spread your security deposit over 60 days with layaway
  • Join 1.6 million+ cardholders who have used opensky® to build better credit!
  • Regular Purchase APR: 28.24% (Variable)
  • Cash Advance APR: 28.24% (Variable)
  • Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
  • Annual Fee: $0
  • Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
  • Late Payment Penalty Fee: Up to $41
  • Return Payment Penalty Fee: Up to $40
  • Minimum Deposit Required: $300
  • You want a secured credit card but don’t want to pay an annual fee
  • You have at least $300 available for a security deposit (up to $3,000)
  • You are serious about building credit and plan to pay on-time each month
  • You want to graduate to unsecured credit
opensky® Plus Secured Visa® Credit Card

opensky® Plus Secured Visa® Credit Card

Terms & Conditions
Apply Now Terms & Conditions

OpenSky actually issues two secured credit cards – the original secured Visa and the newer OpenSky® Plus Secured Visa®. The OpenSky® Plus Secured Visa® credit card is a no annual fee version of the OpenSky Visa, swapping the annual fee for a higher purchase APR. The purchase APR with the Plus card is around seven-percentage points higher than the basic OpenSky Visa, but might make sense if you plan to pay down your balance every month – doing so means avoiding interest charges on your account.

Applied Bank® Secured Visa® Gold Preferred® Credit Card

Applied Bank® Secured Visa® Gold Preferred® Credit Card
Apply Now Terms & Conditions
Fair-Poor
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Fair / Poor
Visa Processing Network
$48 Annual Fee

Applied Bank® Secured Visa® Gold Preferred® Credit Card

  • 9.99% Fixed Rate Regular Purchase APR
  • 9.99% Fixed Rate Cash Advance APR

At a Glance

The Applied Bank® Secured Visa® Gold Preferred® Card offers those with limited credit history or a poor credit score the chance to receive a full-fledged Visa card without the need for a credit check. The card also boasts and impressively low fixed APR on purchases and cash advances – all for the modest annual fee of $48.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Better than Prepaid…Go with a Secured Card! Load One Time – Keep On Using
  • Absolutely No Credit Check or Minimum Credit Score Required
  • Automatic Reporting to All Three National Credit Bureaus
  • 9.99% Low Fixed APR – Your Rate Won’t Go Up Even if You Are Late
  • Activate Today with a $200 Minimum Deposit – Maximum $1,000
  • Increase Your Credit Limit up to $5,000 by Adding Additional Deposits Anytime
  • Regular Purchase APR: 9.99% Fixed Rate
  • Cash Advance APR: 9.99% Fixed Rate
  • Cash Advance Transaction Fee: Either $5 or 5% of the amount of each cash advance, whichever is greater
  • Annual Fee: $48
  • Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
  • Late Payment Penalty Fee: Up to $38
  • Return Payment Penalty Fee: Up to $38
  • Minimum Deposit Required: $200
  • You have bad credit, limited credit, or no credit history at all
  • You want a card that automatically reports to all the major credit bureaus
  • You are tired of spending money on reloadable prepaid cards
  • You can make a minimum deposit of at least $200
Applied Bank® Secured Visa® Gold Preferred® Credit Card

Applied Bank® Secured Visa® Gold Preferred® Credit Card

Terms & Conditions
Apply Now Terms & Conditions

Finally, the Applied Bank Secured Visa® Gold Preferred® Card provides an impressive, low APR every day, making it a secured card you can carry a balance with without being punished (though this is not advisable for reasons including higher credit utilization and amassing interest charges). That APR is significantly lower than those found on most other credit cards – including balance transfer credit cards from some of the biggest Credit Card issuers in the US.

Applied Bank also provides cardholders with the optional Applied Advantage® program. This program offers Applied Bank® Secured Visa® cardholders members-only discounts on a variety of products and services with brands like:

Avis Budget Orbitz
Macy’s Kohl’s Fandango
Six Flags Sam’s Club JCPenney

Summing It Up

If you don’t have a mail offer for the Mercury Mastercard, Avant Card or any other presorted credit card offering, there are plenty of great offers out there open to all applicants. These credit card offers can help you establish a positive credit history with on-time payments – and may even throw some rewards in as a bonus.

Of course, selecting between secured and unsecured is a difficult decision that depends on a few critical questions. First, ensure the secured card regularly reports to the major credit bureaus – a subprime card without that feature will not help you build credit and may waste your time with excess fees. Second, check to see if the minimum security deposit is within your means to pay – especially as you won’t get those funds back until you close the account and pay off any existing balance.

Here’s a quick breakdown of four of the cards covered in this article:

Fortiva® Mastercard® Surge® Platinum Mastercard® Aspire® Cashback Rewards Total Visa® Card
Credit needed Bad – Fair Bad – Fair Bad – Fair Bad – Fair
Pre-qualify Yes Yes Yes Yes
Initial credit limit $350 $300 $350 $300
Annual fee $49 to $175 the first year; up to $49 thereafter $75 to $99 $49 to $175 the first year; up to $49 thereafter $75 1st year, $48 after*
Rewards N/A N/A 3% back on gas, groceries and utilities; 1% back on all other eligible purchases 1% cash back

Ultimately, your best bet for a subprime (or near-prime) credit card depends on your specific needs. As with all credit card offers, always check the specifics of each card before applying. Reviewing the fine print is essential to ensuring a card is a good deal. Beyond basic information like the credit limit and interest rates, make sure the annual fee, penalty fees (including late payment charges), and other terms are fair.

Related Article: What Are the Easiest Credit Cards to Get with Bad Credit?

Enjoy $100 Off Hotel Stays with Citi Travel

by Cory Santos
Citi Travel Promotion: $100 Off All Hotel Stays of $500 for Eligible Cardmembers

Enjoy an extra $100 off your next hotel stay of $500 or more with a new sign-up offer from Citi. From October 16, 2023, to January 31, 2024, new Citi ThankYou Rewards cardmembers get an extra $100 off all hotel stays of $500 or more (excluding taxes and fees) when booked through Citi Travel. Here’s what you need to know:

Citi Announces New ThankYou Rewards Hotel Promotion

Citi has a new cardmember welcome benefit for eligible Citi credit cards. Between October 16, 2023, and January 31, 2024, new Citi ThankYou Rewards cardmembers will enjoy $100 off all hotel stays of $500 or more (excluding taxes and fees) when booked via the Citi Travel site. The best part? This promotion can be used as frequently as cardmembers want during the duration of the offer.

This new $100 off eligible hotel stays offer is open to new accounts for the following Citi ThankYou Rewards credit cards:


Citi Custom Cash℠ Card
Citi® Double Cash Card
Citi Premier® Card
Citi Rewards+® Card
AT&T Points Plus Card from Citi

Offer Stackable with Other Citi Promotions

This new Citi Travel offer comes in addition to the regular rewards of each card and operates alongside other ongoing Citi Travel offers, meaning you can stack the savings.

Here are Citi’s other promotional offers:

  • Rewards+ and Preferred: Through June 2024, ThankYou Preferred and Rewards+ cardmembers can earn 5X points by booking their hotels, rental cars, and attractions through the Citi Travel site.
  • Double Cash: Through December 31, 2024, Citi Double Cash cardmembers will earn 5% total cash back on hotel, car rental, and attractions booked through the Citi Travel site. This is 3% cash back on top of what they already earn: 1% on all purchases and 1% as they pay for those purchases.

What is Citi Travel?

The Citi Travel website is the booking portal of Citi’s ThankYou Rewards program. The portal teams up with Rocket Travel by Agoda technology and the getaway know-how of Booking.com to provide eligible Citi cardmembers with the ability to book hotels, air travel, car rentals, and attractions all in one place.

Citi Travel lets you book the following travel essentials:

  • Global hotels and resorts: Select from 1.4 million hotels worldwide – from boutique hotels with charm to beloved resort brands – by easily comparing options to find the right travel fit.
  • Attractions and theme parks: Hundreds of thousands of attractions can be booked globally, ranging from tours to theme parks. Sample attractions include the Chicago Architecture River Cruise, Manhattan Sky Tour, New York Helicopter Flight, Grand Canyon Guided Hiking Tour, Kennedy Space Center, and more.
  • Flights: Book flights with leading carriers and global brands worldwide. Easily compare flights, airlines, and prices – all in one place.

The Citi Travel Portal with Booking.com offers some great benefits for Citi cardmembers, including no blackout dates, the ability to earn elevated ThankYou points on bookings, and the ability to use your credit card, your ThankYou Rewards points, or a combination of both to book your stays, flights or anything else.

Related Article: Ultimate Guide to Retail Credit Cards

Featured image by Pexels / Pixabay

7 Common Myths About Student Credit Cards

by Jeannyn Gomez
7 Common Myths About Student Credit Cards

Let’s debunk a few student credit card myths to give you a better handle on the realities of having a credit card during college. Here are seven common myths about student credit cards to stay vigilant for.

7 Student Credit Card Myths to Debunk

Are you unsure about student credit cards? Don’t worry, we’ve got you covered. We know that with so much information on the internet, facts can get mixed up with myths. In this blog post, we will debunk some of the most common myths about student credit cards. Our guide will help you navigate through the misconceptions to help you make informed decisions. So, let’s dive in and separate fact from fiction, student credit card edition.

What is a Student Credit Card?

Student credit cards are typically unsecured, meaning you don’t need a security deposit to act as collateral or as your line of credit. The main difference between a traditional unsecured credit card and a student credit card is the qualification process. The requirements for student credit cards are slightly lax compared to traditional cards. There’s a reason for the leniency.

Card issuers understand students may not have the most established credit history. As a result, qualifying factors can include proof of college attendance and no credit history necessary. Rewards student cards may relate to student life. For example, cash back on dining, books, and even reward redemption towards school tuition.

Table of Contents

Myth 1: A Student Credit Card Requires a High Income to Qualify

The truth is you don’t need to make a ton of money to qualify for a student credit card. Credit card issuers understand students may have little to no income while in college. For this reason, card issuers have alternative ways for students to get approved for a credit card.

Student credit card requirements vary and depend on the card issuer. However, there are a few general requirements that can guide you in the right direction. To qualify for a student credit card, issuers typically require proof of a steady income or a co-signer. Proof of reliable income is can be a part-time or full-time job or even leftover scholarship money. Issuers may also require proof of college enrollment. You must also be a U.S. citizen or a resident with a social security number.

Myth 2: Student Credit Cards have High-Interest Rates

This isn’t always true. Credit card interest rates vary from card to card. We understand why this may be a common misconception about student credit cards. Students are often considered a higher risk to card issuers due to their lack of credit history and job stability. However, all student credit cards are made equal. They each have their perks and benefits, and sometimes you can find student credit cards with relatively similar interest rates to those of traditional credit cards. For example,  the following group of student credit cards and other traditional unsecured credit cards all share similar rates.

Student Credit Cards

BankAmericard® Credit Card for Students
Capital One SavorOne Student Cash Rewards Credit Card
Discover it® Student Cash Back
Unsecured Credit Cards

Upgrade Cash Rewards Visa®
Bilt Mastercard
Synchrony Preferred World Mastercard®

Myth 3: Student Credit Cards Require a High Credit Score

Not all student credit cards require a high credit score to qualify. You can easily find student credit cards that require no credit or fair credit. A great example is the Discover it® Student Cash Back and the Bank of America® Customized Cash Rewards Credit Card for Students. An alternative credit card option for students is secured credit cards. Unlike unsecured student credit cards, secured cards require a security deposit as collateral and a credit limit. A secured credit card option is best for students with savings who want to build credit.

Myth 4: Student Credit Cards Lead to Irresponsible Spending

Student credit cards are not only for impulse shopping. If used responsibly, students can learn the basics about building credit and budgeting. Responsible budgeting and spending habits are essential to becoming a credit card holder with a prime credit score. Building credit during college doesn’t have to be difficult. Consider these basic tips:

Check your credit score regularly Keep a budget and only spend within your means Always pay on time and never miss a payment
Pay more than the minimum payment if possible Never max out your credit card Be mindful of your credit utilization ratio

Myth 5: You Need a Co-Signer for Every Student Credit Card

Earlier we mentioned a few requirements to qualify for a student credit card. One of which was a co-signee, which is not always required. Students can qualify for credit cards independently based on their creditworthiness. However, some credit card issuers may require a co-signer if you are under the age of 21. Typically, the co-signer is a parent or guardian who becomes liable if the student fails to make a payment.

Myth 6: Student Credit Cards Don't Offer Rewards

This statement couldn’t be further from the truth. Many student credit cards offer rewards and cash back programs. We mentioned a few of them earlier in the article, like the Bank of America® Customized Cash Rewards Credit Card for Students. It earns up to 3% cash back on a category of your choice, such as travel, gas, dining, and more. Additionally, student cardholders earn 2% cash back on groceries and 1% cash back on all other purchases. 

Myth 7: You Can't Build Credit as an International Student

International students can build credit in the U.S. using student credit cards. However, they will most likely need an ITIN (individual taxpayer identification number) instead of a SSN (social security number) to apply for a student card. Most major issuers will accept an ITIN in place of an SSN on a credit card application.

Each issuer will have its own set of terms and policies in place, so your safest bet is to call the issuer to obtain information on the process for international student applications. Some issuers accept a passport number in place of a SSN.

Student Credit Card Myths Debunked!

In conclusion, debunking common myths about student credit cards can help you as a student make an informed decision. Aim to use credit cards responsibly and effectively as part of your financial journey. Remember, student credit cards do not necessarily have high-interest rates.

You also do not need a perfect credit score to qualify for one. Additionally, they can be rewarding, and you don’t always need a co-signer to apply. Keep a budget, always pay on time, and be mindful of your credit utilization ratio for maximum credit success.

Related Article: 7 Common Myths About Secured Credit Cards

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