-
Here’s How To Apply Online Credit Card Rewards To The Charity Of Your Choice
Posted on September 28th, 2011 No comments
Here’s How To Apply Online Credit Card Rewards To The Charity Of Your Choice
An increasing number of rewards credit card issuers are now offering cardholders an unique opportunity to make a donation to charity every time they make a purchase with the credit card. Cardholders are now able to apply online credit card rewards to a charity of their choice. The APRs for this style of card are not low and one has to wonder whether the credit card company is actually donating anything or rather passing the cost of the donation directly to the cardholder through the higher APRs.
If you have decided to help others less fortunate, then you should definitely think about a credit card with which you can apply online credit card rewards to your favorite charity. In this way, you will be able to donate to a charitable organization without actually giving from your pocket. It may not seem like you are giving much but every little bit counts. Charities are able to use the points to buy needed things and they can certainly use travel miles. When you sign up for one of these credit cards, you can simply choose the option to ‘apply online credit card rewards’ when you go to cash in your reward points online.
The only real downside if you want to apply online credit card rewards to charities is that you will not get credit for it. Ordinarily, you can use cash and time donations to lower your taxable income through tax deductions, but you cannot do so when you donate your credit card rewards to a charity. The only way around the tax deduction problem would be, instead of choosing to apply online credit card rewards to charity, you claim the credit card rewards for your own use, then make a cash donation to charity instead.
If the tax break is important enough, you might be in a stronger position using the rewards yourself and then donating directly to the charity instead. This is the only way you are likely to see any tax benefits. Remember, you will not want to be charged any extra interest charges just so you have the opportunity to apply online credit card rewards to your favorite charity. The credit card issuer is certainly not about to offer your interest charges to charity, so giving a donation like that in that way would be like throwing your cash down the drain.
As long as you are paying your credit card every month before the date you are required to pay it, then you can apply online credit card rewards to the charity of your choice without it making a hole in your pocket.
-
Do I Need That Credit Card?
Posted on June 20th, 2010 No comments
Joseph Kenny asked:
Nowadays almost everyone has one, almost everyone has used one and many more are looking to change theirs. What are they? The answer would be a credit card.
You might ask yourself do I really need a credit card?
Credit cards have many advantages, the first one being that they give you the luxury of buy now, pay later. Avid shoppers can even get a number of incentives due to redeemable reward points, free air miles, cash back on purchases and more, all through a reward credit card.
Online
The internet has changed the way retailers sell, add to it the luxury of credit card use and what you get is the complete convenience of shopping directly from the comfort of home. The credit card company should cover you and you will not be held liable for fraudulent use of your credit card online. You should check the terms and conditions of your credit card agreement for these details.
Abroad
Moreover, you can make purchases using your credit card when you go abroad without having to care about the hassles of currency exchange because that is for your credit card to think about. Plus many credit cards offer payment protection. A major drawback of this would be that it will cost you extra every time that you use the card abroad, normally a flat rate of around 3% on the transaction cost will be added to your credit card balance.
Emergencies
Credit cards prove to be a boon when you think of emergency situations. God forbid, you meet with an accident. You do not have enough money at that moment. What will you do? Wait for an angel? Well, you do not need that. You can always rely on your credit card and pay for those expenses. Moreover, there are some credit cards that provide you insurance.
Affinity Cards
There are also credit cards through which you can forward money to your favorite charity or organization you are affiliated to and want to contribute monetarily. Thus, the more you will spend through your affinity card the more money will go to your affiliate.
People wrongly accuse credit cards of making spendthrifts out of them. However, this wonder can actually help you save a lot. Moreover, if you have bad credit history a credit builder product like unsecured credit card or bad credit- credit card can actually help you payback your debt and build back good credit rating.
Amanda