Credit card offers aren’t exactly a rare occurence. In fact, many people are bombarded by multiple credit card offers each and every day. The question is, how do you know which credit card offers are the good ones and which ones should be thrown in the trash (after being shredded of course)? Follow these seven bits of advice.

1. What Does “Pre-Qualified” Really Mean?

First things first — when you get those credit card offers in the mail that say you’re “pre-qualified,” it does not mean that you’ve been approved for the credit card that is being offered. You still have to apply for the card (and have your credit history run) before you’ll actually be approved.

Many people have gotten frustrated because they respond to a “pre-qualified” offer only to find out they’re not really approved.

Don’t take it personally. “Pre-qualified” credit card offers are nothing more than a marketing gimmick.

2. The Razzle, The Dazzle and Then The Punch

When you see credit card offers touting very low interest rates (or even no interest at all), try to remember that these are “teaser” rates that will eventually go up (and may go up drastically). The credit card offer may still be a good deal, but that all really depends on what the interest goes up to after the introductory period.

Before jumping to apply for a low-interest credit card offer, see what the interest rate is really going to be after the introductory period is over.

3. Keep The Perks In Perspective

Many credit card offers include perks such as points or cash back that can be earned with each purchase. Remember, these perks may not be as great as they first appear.

A credit card with rewards attached also usually has a higher interest rate attached as well. If you carry a high balance on your credit cards, those perks are going to cost you big time.

4. It’s Not About the Prize

Some of the credit card offers we receive don’t even come by mail — they come during checkout at the local store. Oftentimes, these credit card offers have a one-time discount attached, such as 10 to 15 percent off your total purchase if you apply on the spot (and approval is instant as well).

If you think it’s a good idea to open a credit card to get the discount and then close the account afterwards, that’s really not such a great concept. A part of your credit score is determined by how long you keep relationships with your creditors. If you have a history of opening accounts and then quickly closing them, it’s going to impact your creditworthiness in the eyes of lenders.

5. What You Shouldn’t Settle For

The credit card industry is definitely competitive. Because of this, you should never respond to credit card offers that require an annual fee or a “processing” fee (unless you have problems with your credit history).

If a credit card company requires an annual fee or charges you for processing your application, go elsewhere for your credit card needs. There are a number of credit card companies who will welcome your business (and won’t make you pay extra for the privilege).

6. Seek Them Out

If you’re not happy with the credit card offers you’re being solicited with, it doesn’t mean there isn’t a credit card out there to meet your needs. You may just need to look a little harder.

There are hundreds of different credit cards available and finding the one that is right for you may just be a matter of doing a little online research. Many consumers turn to the web to find the credit card offers that are perfect for them.

7. Seek and Destroy

After you have reviewed a credit card offer, what do you do with it? I’ll tell you what you should be doing.

Make sure you shred each of the credit card offers you receive before throwing them in the trash or you may find yourself becoming the next victim of identity theft.

Those credit card offers that infest your mailbox are also an identity theft criminal’s best friend. If you don’t want those credit card offers falling into the wrong hands, make sure you dispose of them properly.

By taking the above advice into consideration when dealing with credit card offers, not only will you be able to find the credit card that’s right for you, but you’ll also be able to avoid making a mistake due to credit card confusion.

Credit cards offering a 0% interest rate often lure consumers in with zero interest, instant approval and easy online balance transfers, but beware of the number one factor that will void your 0% easy street annual percentage rate and throw you out into the poor house fast.

Banks and financial institutions know the spending habits of consumers and understand that most people max out their credit cards around the holidays. They wisely take advantage of this fact and start flooding your inbox and snail-mail box with hundreds of 0 APR credit card offers soon after the holiday season ends. Knowing that if you are like 98% of the American public, you’ll jump at the chance to consolidate credit card debt and transfer balances to 0 APR credit cards.

But don’t fill out that online credit card application too fast, there are a couple of money saving details you need to be aware of before you apply and transfer your balances over to 0 APR credit cards.

Credit card companies are banking on the fact that you will never read the fine print at the bottom of the 0 APR credit cards terms of service agreement. There are two very important details down there that need to be brought to your attention before you sign on the dotted line.

Most importantly is the fact that if you make just one payment late your introductory 0% APR is revoked and you’ll automatically be required to pay the full annual percentage rate. Credit card companies are banking of the fact that you never know this fact till its too late, so please read the fine print before accepting any 0% APR balance transfer credit card offers.

The second detail is that could either help you out of credit card debt or sink you even deeper into debt is the fact that the 0% APR is only an introductory offer by the credit card company. It applies for a short, limited time only, then interest rates on your credit card goes up to the usual high rate.

The amount of time the company offers the low 0 APR credit card varies from 6 months to as much as 18 to 24 months in some cases. You need to read your agreement carefully to see what the annual percentage rate will be on your 0 APR credit card after the introductory rate expires before you sign the credit card application.

It is imperative that the 0 APR credit cards regular percentage rate is at least 3 points lower than the annual percentage rate you are currently paying, if its not, you may want to consider consolidating credit card debt by some other method. It simply won’t make sense for you to transfer you balances over to 0 APR credit cards if the interest rate is going to be jacked up higher than the rate you are already paying.

0 Interest Credit Card

JSB Morse, in the follow up to the popular How to Take Advantage of the People Who Are Trying to Take Advantage of You, focuses on one of the most profitable techniques of the series: credit arbitrage. Credit arbitrage is the method of taking advantage in the disparities between interest rates in the marketplace. Consumers can utilize low-interest debt to actually earn money-this book will show you how. Morse takes a simple, three-step approach to converting credit cards from an expense into a moneymaking tool. Complete with charts and detailed instruction, this manual will help you start raking in the dough with as much effort as it takes to apply for a credit card. Learn techniques on how to acquire 0% interest credit cards or get lower rates on your current credit cards; invest in any number of ways based on personal levels of risk-acceptance with that money; and maintain your accounts to maximize your profits. Morse has made it easy to start taking advantage of the people who are trying to take advantage of you; now all you need to do is start making money for nothing through credit arbitrage!

---

Most helpful customer reviews

16 of 17 people found the following review helpful.
Succinct Instructions on How to Make Free Money
By Sandy Winnich
Morse elaborates on his “Take Advantage” techniques with this informative book. The crux is making money on 0% debt that credit cards offer you by investing it in risk-free high-yield money markets or riskier stocks. The author is entertaining, but he also gives up the goods- good advice accompanied with helpful charts and worksheets.

See all 6 customer reviews…

Several account holders discover that the best credit card balance transfer will give them 0 interest rate for a whole year. In some instances, consumers can get as much as sixteen months with a zero interest rate. Just like any financial tool, it is advisable to plan what you can do as you take the appropriate measures to eliminate your expenses.

At the end of the introductory period that gave you no interest rates, the account holder can be exposed to a retroactive interest rate going back to the opening date the account was opened for any unpaid account balance that remains. The annual percentage rate could in some cases be more expensive than what you are at present repaying with your present card.

Consequently, as you query for the best credit card balance transfer choices you need to have every intention of paying off the account balance of your bank card. Should you be looking for just a short lived solution, there might be superior strategies that you should consider.

You’ll find many banks that have great deals regarding their transfers. Nearly all are regarded as major players in the realm of bank cards We’ll look at these quickly to ascertain which ones boasts the best credit card balance transfer interest rates.

Capital One Cards

Featuring a 0 APR that can last for fifteen months, the Capital One Platinum Card supplies consumers a generous personal credit line as high as 10 grand that will in their balance transfer needs. After the promotion offer cardholders will face an 12.9% annual percentage rate on the bank card.

Citibank Cards

Yet another no annual percentage rate. These offers can last for as long as a year and a half and can enable a account holder to repay up to $15,000 based on their FICO score. By the end of the introductory period users will now have an interest rate of 11.49 – 19.99%.

Potential customers who are looking for the most beneficial rates they can find ought to know their credit ratings beforehand. Many financial institutions will only grant good intro percentage rates to the clients that possess an excellent credit history. Before you decide to endeavor to submit an application take some time to check your current credit ranking.

Remember as you focus on the best credit card balance transfer selections you have, you should make an effort to obtain the cards having the longest percent intro period, and make an effort pay back the card in that period of time.

As reality reveals, not every internet user has his own credit or debit card. Hence, many of them are not able to enjoy the convenience of transacting online. Another important consideration is that, many credit card users are afraid that their card information will be compromised.

With these problems, business developers were able to come up with a solution that is beneficial for everyone: a Virtual Credit Card.

What is a Virtual Credit Card (VCC)?

A VCC is a pre-loaded, in some cases re-loadable, card account that works in replacement of a debit card. It is like having a real debit card account without having the physical card. With a VCC, you can have peace of mind while shopping or transacting online. It doesn’t require you to reveal your personal information because you can use it with any name and address. Fast, convenient and secure. Plus, VCCs can be used anywhere in the world where major credit cards are accepted. There may be some country restrictions so some merchants may block the transaction because of user’s IP address but you can overcome this issue by using a socks or a proxy server.

Virtual credit cards will provide you with a peace of mind while shopping or transacting online.

Who can use a VCC?

Anyone from around the world can purchase and own a virtual credit card. It can be any person who wants to make payments and transactions online but prefers not to expose his or her own debit card information or it could simply be someone who doesn’t have a debit card at all. Usually, merchants do not require any ID when you purchase a virtual credit card. Virtual card details are provided instantly after you make a payment. Clients are responsible for any illegal use of these cards. Payments can usually be made through popular e-currency payment systems such as Liberty Reserve or Webmoney. Some merchants will accept PayPal, Moneybookers, AlertPay etc. Among regular payment options there could also be WU/MG or Bank Wire.

What information is provided after the payment?

After the payment, you will receive the following information:

1. VCC type (Visa, MasterCard)

2. VCC number

3. CVC / CVC2 number (also known as verification code)

4. An expiry date

The most popular VCC among internet users is Visa Virtual. The majority of VCCs out there are issued by Visa but you may see some MasterCard virtual cards as well. Cards are usually delivered instantly after a successful payment by Liberty Reserve or Webmoney. Payment options such as WU/MG or Bank Wire require a merchant to receive funds first before revealing virtual card details.

Where could one use a VCC?

Virtual credit cards can be used for online purchases and transactions on any online merchant, distributor, business websites, or in short, anywhere credit cards are accepted. Some are also used to verify PayPal and other similar payment accounts. Even though VCCs do not require you to reveal your true personal information, a valid address must be provided for online orders that require physical delivery.

Virtual Credit Cards

With Intuit GoPayment and the mophie marketplace complete credit card solution, you have everything you need to securely process credit card payments on your iPhone 3G and 3GS.

With Intuit GoPayment and the mophie Marketplace credit card reader, you have everything you need to securely process credit card payments on your iPhone. It’s simple to get started. Get started in as few as 15 minutes, and begin accepting all major credit cards on your iPhone so you can get paid on the spot.

Compatible with iPhone 3G/3GS models.

Process any major credit card by entering card information directly into your iPhone with the swipe of a card.

With Intuit GoPayment and the mophie Marketplace, you have everything you need to securely process credit card payments (see larger image).

GoPayment Rates and Services Monthly Service: $12.95 Swipe Rate: 1.7%1 Keyed Rate: 2.7%1 Transaction Fee: 30¢1 Set-up Fees: NONE Cancellation Fee: NONE Monthly Minimum: NONE

This Complete Credit Card Solution is perfect for small business owners who do business away from their office like plumbers, contractors, photographers and retailers who attend art festivals. Intuit already provides payment processing service to over 250,000 small businesses and processes in excess of $100B in transactions per year.

Offering an innovative, lightweight design complete with a soft-touch finish, the mophie Marketplace fits well in your hand and protects your iPhone from bumps and scratches. You can even charge and sync your iPhone with iTunes without removing the mophie marketplace case with the pass-through micro-USB port. It’s compatible with the iPhone 3G and iPhone 3GS models (iPhone not included).

The Complete Credit Card Solution

• Quick Transactions: Ability to process a credit card payment in three easy steps virtually anywhere, digital signatures, and e-mail or text message receipts makes the Complete Credit Card Solution the ultimate solution for mobile payment transactions.
• Complete Mobile Payment Solution: Quick and easy transactions on-the-go. Process any major credit card on your iPhone with the swipe of a card.
• Fully Protected: The marketplace Complete Credit Card Solution has a protective form-fitting, light-weight, low-profile design complete with a soft-touch finish.
• Works with QuickBooks: Sync your account information and payment data with Intuit QuickBooks² without removing the marketplace from your iPhone by using the included USB cable.

Getting Started Is Easy

Download the free Intuit GoPayment app and enjoy low merchant service rates with no set-up fees, no monthly minimums and no cancellation fees.

Set up your merchant account today by applying from the GoPayment app, by phone, or online at mophie.Intuit.com.

Begin accepting all major credit cards and manage you GoPayment account 24 hours a day, 365 days a year with your free Intuit Merchant Service Center.⁴

Get Paid in 3 Easy Steps with GoPayment

1. Open the GoPayment App and log in to your account
2. Swipe or manually enter credit card information
3. Enter amount to be charged, scan card and have the customer sign with their finger. It is that easy.

Digital signatures, e-mail or text message receipts, and the ability to take payment virtually anywhere (see larger image).

Safe Transactions, Easy Receipts

Be sure to let your customers know that their information is safe and secure. All transactions are immediately encrypted and no cardholder information is stored on the iPhone. You also have the option to send your customers receipts via text message or e-mail in addition to being able to track item sales and sync payment data with Intuit QuickBooks.²

What’s in the Box

mophie Marketplace, USB cable, operating instructions

Terms and Conditions

1. Rate of 1.7% charged on all Visa and MasterCard Qualified transactions electronically authorized with credit card reader. Manually keyed transactions with AVS charged 2.7% Key-Entered Rate. Business and foreign cards, or transactions not meeting the above are charged 3.7% Non-Qual Rate. Per-Authorization fees of $0.34 charged for Non-Qual transactions. Different rates for American Express, Discover, Diners Club and JCB may apply. Additional transaction fees may apply. Call (888) 556-4850 or see mophie.Intuit.com for current information.

2. Optional feature to sync date available in supported versions of QuickBooks Pro and Premier 2009 or later. Sold separately.

3. During regular business hours Monday-Friday 7 a.m. to 6 p.m. and Saturday 7 a.m. to 3 P.m. PST.

4. Subject to occasional downtime due to systems and service maintenance.

There are many situations which will bring up the need for immediate money. If you have the need which can not be post phoned, it will be then that you look for instant approval of your credit card. One of the best places to find such applications which will be approved instantly is the internet. You will have to fill up the form which will be approved in a few minutes. A mail will be sent to you informing you about the status of the approval.

If your application is approved, then it will take 15 days for the credit card to reach you. There is one important thing that you have to keep in mind while applying for instant approval; your credit score should be good. If your credit score is good then it would be easy for you to get the card. And also, the fee which is charged will be relatively less. If you have a bad credit score, they would give a secured card which is based on the collateral deposit that you make. Even if a bank agrees to give an unsecured card then, be prepared to give a huge sum of fees in return.

However, people tend to forget to check a few things as they are in a hurry to get the card. Make sure that you are aware of the fee amount that they charge annually. Some companies charge a high fee. There are also companies which charge less so these are the companies that you have to choose. Apply for credit card instant approval only if you are in dire necessity. If you do it even without the need, it would have a bad impact on your credit score. You may not get it when you are actually in need of it.

Apply For Credit Card Instant Approval

 “This book is a must-read for credit card holders of all ages. Curtis Arnold offers insights into how consumers can not only profit financially from credit cards, but importantly, how to avoid falling into debt.”

—Thomas R. Evans, President and CEO of BankRate.com, Inc.

 

“Finally, someone has written a guide for savvy consumers who want to make the most of the plastic in their wallets. Curtis Arnold explains exactly how to maximize your rewards so you’re quite literally getting free money and also outlines winning strategies for negotiating the lowest interest rate and using balance transfers to your advantage. Anyone who wants to build credit, improve their credit, or profit from their credit cards should read this book.”

—Liz Pulliam Weston, MSN Money Personal Finance Columnist and Bestselling Author of Your Credit Score and Easy Money

 

“Curtis Arnold is America’s premier credit card expert. Whether you’re trying to get your first card, compare credit offers, or figure out how to beat the credit card companies at their own game, Arnold’s wisdom and insider tips will prove invaluable.”

—Lynnette Khalfani-Cox, The “Money Coach” and Author of The New York Times Bestseller Zero Debt: The Ultimate Guide to Financial Freedom

 

“If you have had enough of credit card tricks and traps, this book will show you how to turn the tables. Curtis Arnold knows the credit card business inside and out and offers proven ways to put plastic to work for you, rather than against you.”

—Gerri Detweiler, Consumer Advocate and Author of four books on personal finance including the forthcoming book Stop Debt Collectors

 

“For most Americans, credit cards are seen as a necessary evil. Curtis Arnold transforms that perception. Using his advice, people can get rebates, perks, better interest rates, and all kinds of benefits from their cards that they never knew were possible. This book helps you become the master of your credit cards instead of a victim.”

—Jordan E. Goodman, “America’s Money Answers Man” and Bestselling Author of Everyone’s Money Book on Credit

 

“Curtis Arnold provides you with tips for protecting yourself from costly credit card traps, how to use credit to your advantage, and much more. This is a must-read book!”

—Marcia Brixey, Author of The Money Therapist and Founder and President of Money Wise Women Educational Services

 

Banks spend billions to entice credit card customers with rebates, freebies, low introductory rate offers, and airline miles. This book shows you how to take maximum advantage of these special deals—without paying for them through brutally high interest rates, fees, and penalties!

 

Top independent credit card expert Curtis Arnold reveals how to creatively finance major purchases such as cars, weddings, and condos with little or no interest charges…earn huge credit card “perks” every year…and dramatically reduce your cost of credit. He offers specific advice targeted to: young consumers, retirees facing credit discrimination, Americans recovering from debt problems, and even to consumers with spotless credit.

 

Why should huge banks and credit card companies make all the money? Get this book, and you too can start earning and saving hundreds, and possibly thousands of dollars, like Curtis has!

• Unlock the keys to huge credit card savings
  Find the best rates and balance transfer offers—and make the most of them
• Fly anywhere, finance anything
  Use credit cards to get free airline tickets and cash rebates or low-cost “creative financing”
• Don’t get ripped off—by your bank or anyone else
  Avoid hidden fees, costly small print, and flat-out fraud
• Slash your debt, and cut your cost of credit
  Stop throwing away money you could be saving or investing

Acknowledgments xvii

About the Author xxi

 

Chapter 1: It’s Not Just Plastic–It’s Money! 1

Chapter 2: Show Me the Money! Credit Card Rebates 23

Chapter 3: Unlock the Key to Huge Savings: Master Credit Card Rates and Transfer Offers 51

Chapter 4: Avoid Problems That Hinder Maximum Profits 75

Chapter 5: How to Slash Your Debt and Keep Your Hard-Earned Money for Yourself 89

Chapter 6: Watch Out: Traps and Scams Can Cost You Big Bucks! 119

Chapter 7: Start Out on the Right Foot–Credit Cards for Students and Saving for College 155

Chapter 8: Use Targeted Cards to Your Financial Advantage 179

Chapter 9: Your Credit Report and Score: The Better You Look, the More You Profit 209

Chapter 10: Maximize the Benefits of Your Cards by Taking Advantage of Additional Free Perks 237

Chapter 11: Master Advanced Card Techniques to Save and Make Money 259

Chapter 12: Capitalize on Future Card Trends 283

 

Glossary 301

Index 315

 

 

About the Author

Curtis E. Arnold, a well-known consumer educator and advocate, is the founder of CardRatings.com, an award-winning website that has been providing objective, current information about credit cards free of charge since 1998. His website has made it easy for millions of cardholders to find more attractive credit cards and lower their card debt.

 

Some 1,000 unique credit card offerings are rated by both experts and cardholders on CardRatings.com, and new reviews are added daily. Cards are categorized for people with no credit or poor, fair, good, or excellent credit–and by whether they offer a low-interest rate, cash back, miles, or other rewards. CardRatings.com also provides a free forum (containing over 115,000 posts)–where Curtis interacts regularly with participants–to discuss credit issues such as sharing ideas on how to make the most of credit cards, get out of debt, and solve credit issues. Sharing detailed information with consumers has three important additional benefits from Curtis’s point of view: It encourages stronger competition among card issuers, helps create a more consumer-friendly credit card industry, and keeps CardRatings.com in touch with the needs of cardholders.

 

Curtis knows firsthand the devastating effects of credit card debt. By the time he was finished with his graduate studies at the University of Texas at Dallas, his credit card debt reached $45,000. The stress it created in his life was “unbelievable,” as Curtis puts it, and has a lot to do with why he wrote this book. His goal is to spare you the experience of what he went through and to show you the best ways to benefit from your credit cards.

 

Over the years, Curtis and CardRatings.com have received an enormous amount of national publicity and praise, thanks to interviews Curtis has given to The Wall Street Journal, The New York Times, The Washington Post, USA Today, Money Magazine, NPR (National Public Radio), CNN, ABC News Radio, AARP, Dow Jones Newswire, Bottom Line/Personal, PBS, SmartMoney Magazine, Reader’s Digest, MSN Money, MSNBC TV, The Associated Press, CNBC, TIME Magazine, and more.

 

Since its founding, Curtis has expanded CardRatings. com’s role and online offerings. For example, the site now provides all the data (card terms and conditions) for the credit card and ATM/debit survey published by the New York State Banking Department, the oldest bank regulatory agency in the nation. The site also includes credit card news and advice on everything from getting a line of credit to getting a copy of your credit report to getting a better rate or rebate. It’s also a good place to turn if you’re looking for business or student cards.

 

Arkansas Business, a weekly journal, selected Curtis as a “Top 40 Under 40” business leader in 2005, recognizing him as an intriguing business and political leader who bears watching. He was selected as a National Council of La Raza panelist in 2006 to discuss Hispanic credit card issues, and he was a guest speaker in 2007 at The Responsible Credit Roundtable, which provides a forum for leaders of the credit card industry and nonprofit organizations to devise, test, and implement ways to improve communication and account practices to build value for both companies and customers.

 

Curtis has a particular passion for educating students about credit. He serves on the Advisory Board for the Center for Consumer Financial Services at Rochester Institute of Technology, which provides national leadership and research on student credit issues. Curtis also regularly speaks on college campuses about the ins and outs of credit. Finally, he currently serves as co-chair of the Arkansas chapter of the Jump$tart Coalition for Financial Literacy, which seeks to educate students about personal finance issues.

 

Curtis participates in other consumer advocacy groups with various missions. For example, he contributes on a weekly basis to CreditBloggers.com, a blog where leading financial experts discuss credit, loan, debt, and identity theft topics. Curtis is also a member of Arkansans Against Abusive Payday Lending, a coalition of Arkansans dedicated to combating abusive payday-lending practices. Finally, he’s a member of the Financial Literacy Education Consortium, a community of professionals concerned with “best practices” in the delivery of financial education to their constituents.

 

Before founding CardRatings.com, Curtis worked in various capacities in the financial industry, for example, at Advancial Federal Credit Union, Regions Bank, and Metropolitan National Bank. In addition, Curtis gained some valuable “eBusiness” experience by working for Intelemedia Communications in the high-tech corridor of North Dallas.

 

Curtis enjoys being involved in community organizations in the Little Rock area, where he has served on the Board of Directors for Arkansas Festival Ballet. He has been a member of Toastmaster’s International, the West Little Rock Rotary Club, Techpreneur, a nonprofit organization that encourages technological entrepreneurship, and the Little Rock Bop Club. Curtis is also an active member of The Summit Church in North Little Rock.

 

Last but not least, Curtis cherishes his family life. His wife Nancy serves as the accounting supervisor for CardRatings.com. Curtis and Nancy currently reside in North Little Rock, Arkansas with their five children– Dallas, Erin, Hunter, Avery, and Claire.

 

Excerpt. © Reprinted by permission. All rights reserved.

Praise for How You Can Profit from Credit Cards

Finally, someone has written a guide for savvy consumers who want to make the most of the plastic in their wallets. Curtis Arnold explains exactly how to maximize your rewards so you’re quite literally getting free money and also outlines winning strategies for negotiating the lowest interest rate and using balance transfers to your advantage. Anyone who wants to build credit, improve their credit, or profit from their credit cards should read this book.

—Liz Pulliam Weston
MSN Money Personal Finance Columnist and Bestselling Author of Your Credit Score and Easy Money

Curtis Arnold is America’s premier credit card expert. Whether you’re trying to get your first card, compare credit offers, or figure out how to beat the credit card companies at their own game, Arnold’s wisdom and insider tips will prove invaluable.

—Lynnette Khalfani-Cox
The “Money Coach” and Author of The New York Times Bestseller Zero Debt: The Ultimate Guide to Financial Freedom

If you have had enough of credit card tricks and traps, this book will show you how to turn the tables. Curtis Arnold knows the credit card business inside and out and offers proven ways to put plastic to work for you, rather than against you.

—Gerri Detweiler
Consumer Advocate and Author of four books on personal finance including the forthcoming book Stop Debt Collectors

For most Americans, credit cards are seen as a necessary evil. Curtis Arnold transforms that perception. Using his advice, people can get rebates, perks, better interest rates, and all kinds of benefits from their cards that they never knew were possible. This book helps you become the master of your credit cards instead of a victim.

—Jordan E. Goodman
“America’s Money Answers Man” and Bestselling Author of Everyone’s Money Book on Credit

Curtis Arnold provides you with tips for protecting yourself from costly credit card traps, how to use credit to your advantage, and much more. This is a must-read book!

—Marcia Brixey
Author of The Money Therapist and Founder and President of Money Wise Women Educational Services

Curtis Arnold’s new book is loaded with great information, including some intuitive tips about how consumers can actually use credit and credit cards to benefit themselves financially instead of just benefiting the credit card companies. This is a most insightful book.

—John Ulzheimer
President of Consumer Education for Credit.com “Credit Caoch” contributor on CNBC’s The Millionaire Inside and Author of “You’re Nothing but a Number; Why achieving great credit scores should be on your list of wealth building strategies“

Credit cards can be a valuable money tool when used correctly, and Curtis Arnold tells you how. From enhanced consumer protections to lucrative rewards, “How You Can Profit From Credit Cards” reveals secrets of the credit card industry that can benefit you instead of the bank. This book makes you an expert not only about credit cards, but many of the credit issues in your life. And it blows the cover off some dirty tricks by card issuers. When it comes to paying with plastic, Arnold knows his stuff.

—Gregory Karp
Award-winning syndicated personal finance columnist and Author of Living Rich by Spending Smart: How to Get More of What You Really Want.

© Copyright Pearson Education. All rights reserved.

---

Most helpful customer reviews

19 of 21 people found the following review helpful.
Must read for those interested in all aspects of the credit world
By William Lund
Being an avid reader and contributor of the forums for a couple years at cardratings.com I had to purchase the book and was pleased with the great material found within. It took the best of what I’ve learned and explains it all in a well organized manner. I point family and friends to it now, cause it explains it all much better than I can. With the help of the forums I overcome a $12000 credit debt in 2 years and over the time built a score close to 800. I enjoy having my cards earn me money instead of having debt and having the upper hand now that I know how the credit world works.

7 of 8 people found the following review helpful.
A Review From Curtis Arnold’s PR Assistant
By C. Arnold
Curtis has written a very relevant, timely message to an audience that needed this many moons ago. I have struggled with my finances in my college days like most students, and have found myself asking, “Where would I be today if I had this book in college?” Curtis has written this book as a tool for any and every consumer, but specifically the student credit chapters need to be plugged in to every university in America. It’s information would prevent the next generation from experiencing what we are going through today. I recommend this book to anyone who wants to see the next generation succeed financially!

See all 15 customer reviews…

What is the best credit card processing company, and what qualities and services determine what is the best credit card processing company. If you are a business in search of a merchant account provider in order to begin accepting card payments you must know some of the basics of what is available and what makes the best.

If you are a small business with a physical location, you will be in need of what is referred to as a point of sale terminal. POS terminals are the small devices that you see in restaurants and businesses that allow for the reading of credit cards when they are swiped, your processing company will need to provide various terminal options to fit your unique business needs, and they usually provide leasing or purchase opportunities for your terminal. If you are service trade shows or other mobile events you might want to consider wireless processing terminals.

The next feature of the best credit card processing companies after a means of accepting payment is the companies service and support rating. Payment processing and gateway setup can be a pain for your online business, especially if your webmaster is nowhere to be found. Thorough tech support and service support is essential for the proper setup and maintenance of your transaction processing service and the best companies offer thorough help and fast responses to your inquiries.

If you are currently a small business, you may not be using all of the features your payment processing company has to offer. This may be fine for now, but in the future you might be ready to expand and grow, perhaps opening an online storefront with transaction capabilities, or need to expand with additional store locations. The best credit card processing companies have features that allow your service to grow as your business grows, such as shopping cart integration, online customer service, and multiple location capabilities.

Finally and most importantly, the best credit card processing companies keep their contracts short and the fees and charges to a minimum. I am not against these companies making a profit, by no means, but the best companies realize that your success is their continued success, and burdening you with transaction fees and hidden charges does not keep you in business.

Providing value to you the business owner should be the primary goal of the best credit card processing companies, and if their service should enable your business, increasing customer satisfaction and purchases, and not stand in your way. Finding the best payment processing company is like finding a partner who has the best interests of your business in mind, and anything less than that is unacceptable.

Searching for the cheapest credit card rates online is a complex business with many credit card suppliers offering different deals depending on your circumstances. The cheapest credit card rates will differ if you are looking for credit cards for new businesses or are wondering how to transfer credit card balances with bad credit.

In the last year the credit card companies have got wise to customers switching to 0% balance transfer no annual fee credit cards and simply transferring their credit card balance after 6 months. As a result you need to look beyond finding the cheapest credit card rates and look at the long term benefits and interest rates.

Some of the credit card companies are now even charging an annual handling fee but before you dismiss this you need to work out the total annual costs as some of these card suppliers actually have a better annual interest rate than others who don’t charge a handling fee but add a few percent onto their APR rates which can cost you more money in the long run.

When looking for the cheapest credit card rates you also need to consider reward credit cards such as the Capital one reward credit card which offer extra benefits that could include cash back or free travel insurance. Cash back rewards can be a good incentive for high spend credit card customers although the danger is you spend your cash back on more goods !

You should also keep an eye on your credit card statements as very often customers who enjoy the cheapest credit card rates will move onto a higher rate after 6 months and this will make a big difference in your monthly payments as your interest rates could increase by as much as 20% depending on your deal. Another thing to look out for is your balance transfer rate expiring as most companies offer a low rate for 6-9 months.

0% balance transfer no annual fee credit cards

how to transfer credit card balances with bad credit

Are your loans often left unpaid? Do you get notices from debt collectors? Do you feel trapped under your credit card debt and feel you have no place to turn? You are not alone, and opting to take a government-backed debt consolidation loan may help you become financial stable again. If you have exercised every option, consider finding a debt relief representative to discuss your financial future and the best way to get out of debt.

What is a Government-Backed Debt Consolidation Loan?

It is the process in which individuals are offered a loan through the federal government to pay off outstanding debt. They follow the same fundamental guidelines as private sector loans, but have a few minor variations. Government loans set restrictions on the type of debt that can be consolidated with each varying type of loan. Research your options carefully to know whether your debt fits the program.

Many programs are offered such as the Direct Debt Consolidation Loan Program and The Federal Family Education Loan Program. The most commonly issued government loan is for college students. These loans help students consolidate multiple student loans into one low-interest monthly payment.

What are the Advantages to Consolidating Your Liabilities?

Interest rates are normally lower than ones for individual credit loans. Combining what you owe into one low-interest monthly payment will save you a considerable amount of money over time. It also decreases the amount of money you pay creditors each month. Having one payment a month eases stress and helps you gain control over your finances.

A majority of lenders working with government programs will offer several different payment options according to your needs. Thus, you set the pace on how quickly you pay back your loans without tightening your budget.

How to Choose the Right Company.

Never go into a loan program without extensively researching your options. Finding a reputable company should be your number priority. The last thing you want is more stress over your financial situation. Be wary of companies who offer “free government grants” because often hefty processing fees and other mistrusting tactics are used.

A reputable non-profit organization will help you combine your financial liabilities through a government loan. Try to find a company that offers in-person counseling so you can sit down with a representative and review your options. Also, check references through your own banking institution, your local consumer protection agency as well as friends and family.

Just last week, I was contacted by a merchant that had received notification of substantial increases in their rates. The processor claimed that it was due to “adjustments in interchange rates from Visa and MasterCard”. They were going to see an increase of .30% + $.10 in their Non-Qualified transactions, even though there was nothing like that reflected in the new Interchange levels.

I thought it might make an interesting topic to take a look back at credit card processing Interchange Rates. Since we just had an adjustment to rates in April, I decided to go back to April 2006 for some comparisons. As you might imagine, there are hundreds of different rates based on the card or transaction type. Rather than make this an extremely lengthy, and boring, article, I simply chose to focus on a few of the most common type transactions. So, let’s take a look:

Visa CPS Retail Credit: This is for a plain old generic Visa card (with no perks or Rewards attached) that is swiped through your credit card terminal. This still represents quite a chunk of credit card sales for most merchants. If you’re on a Three Tier Pricing, this will typically show up in your Qualified rate category. If you’re on Four Tier Pricing, it is Tier 2. If you are on Cost-Plus or Interchange-Plus pricing, it will show up as a separate line item as CPS Retail Credit. In April 2006, the Interchange Rate was 1.54% + $.10 and is still the same as of the new Interchange Rates in April 2010. How have your Qualified, or Tier 2 rates been affected in that time frame?

Visa CPS Rewards 1: Rewards cards pay the card holder some form or reward in the form of cash back or bonus points. You, as the merchant, have the privilege of accepting these cards and paying more for them. In a sense, you are paying the customer, indirectly, to shop with you. As a Three Tier merchant, these will typically be Mid-Qualified and as a Four Tier Merchant as the third tier. And, of course, as a Cost-Plus merchant, they will show up as their own line item. Interchange Rate was 1.65% + $.10 in April 2006 and is the same today. How have your Mid-Qualified or Tier Three rates been affected in that time frame?

Visa CPS 2: Simply, this Visa Rewards card pays a larger reward to the card holder and, you got it, you get to pay more to accept it. Some processors will put this into your Mid-Qualified or third tier category, however, some will slam you by putting it into your Non-Qualified or fourth tier. I know of one processor that “reclassified” Rewards 2 transactions in July 2008 (between typical Interchange Rate adjustments) and took them from Mid-Qual to Non-Qual and Third Tier to Fourth Tier…EVEN THOUGH THERE WAS NO RATE INCREASE. That represents an immediate increase in their bottom line and a subsequent decrease in yours. Why do you think they did that? You’ve seen the ads all over the place for “enhanced-double rewards” type cards. More and more consumers are getting them, and using them in your business. Interchange was 1.90% + $.10 in April 2006 and went up to 1.95% + $.10 in October 2008 and remains the same today. How have your rates been affected in the past four years in this category?

Visa CPS Key-Entered: Now this doesn’t typically represent a bunch of transactions for most brick and mortar type businesses but still warrants attention. April 2006 showed an Interchange Rate of 1.85% + $.10 but, in April 2009, it was reduced (that’s right, I said reduced) to 1.80% + $.10 and remains the same. These will be classified Mid-Qualified or Tier Three by most processors. Did your rates go down?

MC Merit III: Here again, this is a generic MC swiped through your POS system. It was 1.64% + $.10 in April 2006 but, in either April or October of 2007, they came all the way down to 1.58% + $.10 which is where it remains today. These are Qualified or Tier Two transactions. I believe the substantial drop was to come more in line with where the Visa rates were. I’ll bet your rates weren’t reduced, were they?

MC Key-Entered: April 2006 showed 1.95% + $.10 and also in October 2006, it dropped.06% to 1.89% + $.10 where it remains today. Here again, these will be Mid-Qual or Tier Three, typically. And of course, your processor reduced your rates…didn’t they?

I know this may seem to be a lot of rambling but the point I want to make is this. As you can see from these basic illustrations, there hasn’t been much in the way of overall increases over the past four years. Have your rates remained the same or have you experienced increases (like the merchant that contacted me), or “reclassifications”? Do you even know? Unfortunately, many merchants rarely look at their statements in great detail much less compare them to previous months or years to look for changes. You should definitely look at your statements each month and…COMPARE!

Let me ask you this now. In October 2007 when MasterCard lowered their rates on some of their cards, did your processor lower your rates? Nah, that never (or should I say, rarely) happens. If you’re priced on any kind of tier system, you likely didn’t see any kind of reduction in your rates. However, if you were on Cost-Plus pricing, which is the most transparent form of pricing, the reduction would have automatically been applied. At my website, which you’ll find referenced in the Resource Box of this article, you’ll find unbiased SOLUTIONS to all your credit card processing questions and concerns. My Blog, also provides timely and relative tips on an on-going basis that you will find helpful. As always, thanks for reading and please pass this article on to other business owners in your circle of influence.

Credit Card Comparison Chart

Six-Week Start-Up offers entrepreneurs a quick-and-easy, proven formula for organizing the difficult details of a new business and getting it up-and-running–fast! Designed by America’s foremost small-business advice guru Rhonda Abrams as a personal workbook.

From the PublisherIs This Book for You?

This book is a step-by-step guide for getting a successful business up and running fast. It covers all aspects of launching a business, from licenses, to bookkeeping to marketing to setting up shop. Everything is presented in a step-by-step format with checklists, worksheets, and top-notch advice from one of America’s most highly regarded business writers.

This book is for you if:
* You’re currently in the process of starting your own business and want to get things done as efficiently as possible, yet still do them right.
* You want to make certain you take care of all the details of getting a business underway, organize the process, and get some good advice.
* You’re going to start a business soon and need a plan on how to go about it.
* You have an idea for a business but don’t know where to start.
* You already run a business but would like to improve operations, marketing, and/or take care of essential aspects of growing a company.
* You’re a student in an entrepreneurship or small business class and need to launch a complete business in a limited time period.

You probably do not need this book if:
* You’ve been in business many years, and you’re not expanding or changing your business significantly.
* You’ve started many businesses successfully before and are starting another one; while this book may be a good organizing tool, it’s likely to cover information you’ve already learned from experience.
* You have no idea whatsoever of what business you want to start. If that’s the case, consider “What Business Should I Start?” also published by The Planning Shop.

From the Inside FlapYou have a great idea for a business–but now comes the tough part: making it happen. From licenses to bookeeping to marketing to setting up shop, Six-Week Start-Up guides you through every step of getting your business up and running successfully–and fast!

For many would-be business owners, coming up with a great business idea is easy; it’s getting the business up and running that’s overwhelming! If you’re ready to start your business, but have no idea where to begin, this new book by best-selling author and nationally-syndicated columnist Rhonda Abrams is for you!

Rhonda breaks down the entire process of launching a business into a six week process. Each week, you’ll address specific goals and tasks, such as developing your company brand (name, logo, etc.), analyzing your competition, or finding an office or retail location. And at every step of the way, Rhonda will be there to provide specific instructions, tips, advice, and resources.

Features include:

Week-by-Week Checklists. See exactly what you need to do on a weekly basis. Each checklist item corresponds to detailed information about getting that task done quickly.

Dozens of Worksheets. These carefully designed tools help you work through important issues and decisions.

“Questions to Ask.” Before you meet with an accountant, lawyer, investor, graphic designer, potential employees, or others, make sure you’re armed with these lists of important questions for them.

“Red Tape Alerts.” Stay out of trouble in areas related to taxes, laws, employment rules, and more.

Comparison Shopping Charts. Make smart purchasing decisions on everything from computers to office space.

Comprehensive Resource Links. Find the key information you need quickly and accurately.

Expert Advice. Rhonda’s books have helped literally thousands of businesses get off the ground—she can help you, too!

Covers in-depth:

Clarifying your business concept and defining meaningful goals
Conducting market research and developing your strategic position
Handling government requirements: licenses, permits, taxes
Managing your money: bookeeping, budgets, credit cards, investors
Developing an effective marketing and sales campaign
Hiring and leading great employees
Setting up your office/store/plant effectively
Getting and staying organized

About the AuthorA syndicated columnist, best-selling author, and popular public speaker, Rhonda Abrams has spent more than 15 years advising, mentoring and consulting entrepreneurs and small business owners. Her knowledge of the small business market and her passion for entrepreneurship have made her one of the nation’s most recognized advocates for small business.

Rhonda’s weekly newspaper column, “Successful Business Strategies,” is the nation’s most widely-read column about entrepreneurship, reaching more than 20 million readers through 130 newspapers, USATODAY.com, Inc.com, and Costco Connection magazine.

Rhonda’s first book, “The Successful Business Plan: Secrets & Strategies,” was acclaimed by Forbes magazine as one of the two best books for small business and by Inc. magazine as one of the six best books for start-ups. Now in its fourth edition, it is used as the primary text for business plan classes by more than 100 business schools.

In her second book, “Wear Clean Underwear: Business Wisdom from Mom,” Rhonda illuminates how incorporating strong values into running a business can also benefit the bottom line. She examines the business practices of several outstanding companies, including Southwest Airlines, Kinko’s, and 3M. “Wear Clean Underwear” was a selection of the Book-of-the-Month Club. It has been translated into Japanese, Dutch, and Korean.

An experienced entrepreneur, Rhonda has started three successful companies, including a small business planning consulting firm. Her experience gives her a strong real-life understanding of the challenges facing entrepreneurs. Currently, she is the founder and CEO of The Planning Shop, a company focused on providing entrepreneurs with high quality information and tools for developing successful businesses.

Rhonda was educated at Harvard University and UCLA. She lives in Palo Alto, California.

---

Most helpful customer reviews

46 of 47 people found the following review helpful.
Streamlines the startup process
By A
So, can you get a business started in six weeks? I think the answer is yes, but it’s going to depend on the type of business you want to start. If you’re planning on starting an amusement park or oil refinery, it’s going to take longer. But Abrams says in the introduction that this book is for more typical entrepreneurs who are planning to start a small business (retail or service company).

There are certainly plenty of other books on the market about starting a business (I’ve read many of them, and looked at many more in the bookstore), but what led me to buy this one was the week-by-week approach. Abrams starts each week with a checklist of things to get finished in that week. The first week focuses on business concept-oriented tasks (defining goals for the business, strategic position, etc.) and developing an “identity” (name, logo, etc.).

The later weeks go into things like setting up an accounting system, incorporating, finding office space, doing market research, and hiring employees.

The book has a lot of worksheets you can use to handle issues such as developing a marketing plan or personnel policies. Many of the worksheets are useful, although I wish I hadn’t written in the book itself (tip: xerox the worksheets, and write on those! that way you’ll have “backups” if you need to start over! Wish I had!).

So, after six weeks will I have my doors open for business? Yes–no question. But since I’m starting a consulting company and setting up a home office, I don’t have huge organizational issues to worry about (like building a warehouse or something similar). And I think the premise of this book will work for most people who are starting a similar *small* business. I give it five stars, though, because even if it takes more than six weeks, the information here is solid.

31 of 31 people found the following review helpful.
Helpful and clear
By A
I was already in the process of starting my business when I found this book, so I didn’t really need the first chapter to help me figure out my business concept (though the info on trademarks was helpful). But so far, I’m finding it to be a big help in getting — and keeping — me organized. I like the way the book is laid out — each week I’ve sort of got my “assignments” — the author calls them “Accomplishments” — and then each task is broken down into easily do-able steps. Its a bit like having a start-up business coach. I doubt that any one would use all the worksheets, but I was trying to figure out how to distribut my products, and the checklist in this book helped me figure out how to compare the distributors I was talking to. That one worksheet alone was worth the price of the book and more. Clearly the author has started businesses because the information and advice is just so practical. Like the “Questions to Ask” lists — all those people who told me I had to see a lawyer or accountant or whatever never told me what I was supposed to talk to them about when I finally made the appointment. This book does. Even if you’re already underway in your business, it’s worth owning.

38 of 40 people found the following review helpful.
Practical guide to starting a small business
By A
This book is a fantastic resource for anyone who’s ready to take the plunge in to entrepreneurship! Starting a business seems like such a huge undertaking, and it can be so difficult to know where you should begin. Six-Week Start-Up guides you through every single step of starting a business, from designing a logo to having a grand opening sale! All of the steps are practical and very straightforward–it’s like having an operations manual with detailed, step-by-step instructions for so many elements of starting and running a business. This book has been instrumental in keeping me motivated and feeling empowered throughout this (sometimes difficult) process.

Many of us know the common sense aspects of going into business for ourselves, things as simple as make sure you talk to a lawyer. Make sure you talk to an accountant. But what, exactly, are we supposed to ask this lawyer, or accoutant, or investor? This book thoroughly addresses exactly these types of things, making it so much easier to start your business correctly from the beginning. You don’t have to spend all of your time later back-tracking and fixing the things you did incorrectly to start with.

The bottom line: Six-Week Start-Up gives you everything you need to know and do in order to start your small business quickly, and to avoid costly and time consuming mistakes in the process. It’s a great book for new entrepreneurs who are ready to turn their business-owning dreams into reality!

See all 14 customer reviews…