Low Interest Credit Cards

Even the Beatles lamented paying taxes in this 1967 cartoon.

The Fab Four had it right when they said, “You’re working for no one but [the taxman].” But paying taxes doesn’t have to feel like a hard day’s night. When we find ourselves in times of trouble, we get by with a little advice from our friends.

Today, we share great tax tips from our favorite personal finance bloggers to help save you from the taxman. Enjoy!

On Time Management

“Rushing through your taxes, though tempting, is not a good strategy! If you take the time to learn and plan, you’ll keep from missing things, know what to look for next year, and over time you’ll save a bundle of cash.”

“The government processes tax returns in week-long blocks. So Friday morning at 11am EST, they process all the returns they received over the previous week. If you can send it in before the cutoff you will just get your refund a bit quicker. “

“Don’t w

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Traveler’s checks offer consumers a relatively secure way to pay for expenses when on a trip away from home. These checks are printed with a set value and can be used as a cash equivalent when signed. As with any payment form, traveler’s checks have their own pros and cons. Consider the following advantages and disadvantages of traveler’s checks to help you determine if this payment form is right for you and your upcoming vacation or business trip.

Pros of Traveler’s Checks

• Traveler’s checks are readily accepted in many locations and by many merchants.
• Lost or stolen traveler’s checks are replaced free of charge, often quickly.
• The set value of your traveler’s checks helps you to maintain a budget on your trip.
• Many times it is possible to exchange traveler’s checks for cash again at the hotel where you are staying.
• This form of currency is not computer-dependent.

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Foreign transaction fees are charges commonly added to your credit card statement when you make a purchase in another country. Card issuers say these fees are in place to account for the currency exchange from one country to another, but speculation always exists about where this money really goes. Most foreign transaction fees usually range from 2% to 3% and are billed per transaction. Even if you aren’t traveling, it is possible that a purchase you make with a foreign merchant may also incur a foreign transaction fee.

It is wise to monitor your credit card statements on a regular basis to watch for fraudulent purchases or incorrect charges. When you first see a foreign transaction fee you might be a little confused or alarmed. These fees are very common with most credit card issuers, including American Express, Bank of America, Chase, Citibank, HSBC, Wells Fargo, and Discover Card.

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While scrolling through the Credit Karma blog, I stumbled upon a credit score quiz. I’m happy to say that I only missed three out of ten questions, but I also realized that I, along with many other consumers, am still a credit newbie. So I’m going to start by brushing up on the basics.

Anatomy of a Credit Score

Your credit score is a three-digit number that has an effect on many areas of your financial life. It’s used by lenders to determine your creditworthiness, or the likelihood that you’ll pay your debts in a timely manner. Whenever you apply for credit, such as a credit card or a home mortgage, a lender will use your credit score to decide whether or not to approve you for that credit.

Your score fluctuates depending on key credit-influencing actions over your lifetime of owning credit, from credit cards and loans to mortgages. The act

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Most common credit cards are known as unsecured credit cards, meaning they don’t require a deposit to fund the card. Secured credit cards, on the other hand, are typically funded with a security deposit that is refillable by the cardholder. Much like a gift card or debit card, the consumer can only spend what they have. Unsecured credit cards usually offer lower interest rates as well as credit checks and credit approval, as well as a set credit limit.

Here are a few other important points to understand about unsecured credit cards

• Consumers with decent credit or good credit typically benefit most from the unsecured cards due to the lower interest rates.

• Consumers with poor credit may still be able to get approved for an unsecured card, but it may offer a very small line of credit.

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