Tidbits® - November 2006

Credit insight from Credit.com

Welcome to the Credit.com newsletter!

Each month, this free email newsletter delivers easy-to-read tidbits about credit directly from personal finance experts. In this issue we're focusing on recovering from credit problems. We'd love to hear from you! Send an email to tidbits@credit.com with your credit questions or comments anytime!

Quick Tip

The average consumer spends about $1,000 on the holidays each year. Are you ready?

Start putting some money from each paycheck into a savings account now. $100 a week for the next 10 weeks would give you $1,000 in time for the holidays.

When December rolls around, you'll know exactly how much you can afford to spend. Plus, you'll avoid starting the new year burdened with credit card debt!

Download our savings worksheet - http://www.credit.com/r/tidbits_investing_smarts/

Credit Cards for the Holidays

Can you believe that it is already November? The holidays are right around the corner. Whether you celebrate Christmas, Hanukkah, or Festivus, your holiday plans probably will include some increased spending. Is your credit ready?

Apply for a new credit account online today and you could receive the card before Thanksgiving. Opening a new card can increase your borrowing power and might even boost your credit score. We consulted Credit.com's resident credit card expert, Shannon, for her favorite credit card picks:

Rewards Credit Cards - Borrowers with good to excellent credit scores can open a rewards card and earn points for their holiday spending. Shannon has two picks in this category: HSBC Cash or Fly and Chase Perfect Card. The HSBC Cash or Fly Card gives you the option of choosing your rewards in
cash or air travel miles and has a low APR - http://www.credit.com/r/single_credit_card?card=hsbc_cash_fly

The Chase Perfect Card gives an amazing "6-3-1" deal: 6% rebates on all gas purchases at any gas station for the first 90 days, 3% rebates on all gas purchases at any gas station after the first 90 days and 1% rebates on all other purchases made anywhere. All this plus a 0% introductory rate and no
annual fee - http://www.credit.com/r/single_credit_card?card=chase_perfectcard

Cards for Fair Credit - Borrowers with fair credit scores can apply for the Capital One Platinum Card. "This is a great option for fair credit because it has a low annual fee of $19, a low APR, and extended warranties on purchases," says Shannon - http://www.credit.com/r/single_credit_card?card=cap1_plat_needsImprv

0% Introductory Rate Card – Shannon says: "My best pick is Blue from American Express. Why? It has the longest 0% intro period, 15 months!" And this card offers 4.99% fixed APR for balance transfers. You'll need a great credit score for this very rewarding credit card -
http://www.credit.com/r/single_credit_card?card=amex_blue

Secured Credit Cards - Shannon's favorite secured card is Orchard Bank Secured MasterCard. "Orchard Bank is owned by HSBC, a reputable credit card company. This card has the lowest minimum security deposit, $200, low fees, and friendly customer service." Using a secured credit card responsibly
is an excellent way to re-establish your credit - http://www.credit.com/r/single_credit_card?card=orchardbank_sec

Credit Rebuilding Cards - Again, Orchard Bank nabs Shannon's top spot with the Orchard Bank Silver MasterCard. This unsecured credit card boasts a lower interest rate, reporting
to all three credit bureaus, and regular credit limit increases to help rebuild credit scores. It's a great card
for borrowers struggling with credit issues - http://www.credit.com/r/single_credit_card?card=orchardbank_silver

Best Philanthropy Cards - This is the season of giving, after all! Bank of America offers two credit cards that make donations to worthy causes. The Make-A-Wish Visa Card supports the Make-A-Wish Foundation with every purchase - http://www.credit.com/r/single_credit_card?card=ba_makeawish_visa_plat

Also through Bank of America is the Anne Geddes Visa Platinum. Shannon says: "A percentage of every purchase is donated to the non-profit Geddes Philanthropic Trust at no extra cost
to the consumer." - http://www.credit.com/r/single_credit_card?card=ba_annegeddes_visa_plat

You can browse more credit card offers online at Credit.com.
Happy hunting!

Ask John

Should you say "yes" to department store credit card offers?

Our credit expert, John Ulzheimer, answers this reader question and more! Read his replies and submit your credit reporting question online.

Find out more - http://www.credit.com/r/tidbits_retail_cc/

On the Blog

How about a free flat screen TV just for opening a new credit card? Sounds like a great deal, right? But these types of upfront reward credit cards come with a lot of hidden catches.

Read the truth about upfront reward cards - http://www.creditbloggers.com/2006/10/credit_card_che.html

Quote of the Month

Thanksgiving dinners take eighteen hours to prepare. They are consumed in twelve minutes. Half-times take twelve minutes. This is not coincidence.
- Erma Bombeck

Tidbits® - November 2006

About this newsletter
This information has been compiled and provided by Credit.com as a service to the public. While our goal is to provide information that will help consumers to manage their credit and debt, this information should not be considered legal advice. Such advice must be specific to the various circumstances of each person's
situation, and the general information provided on these pages should not be used as a substitute for the advice of competent legal counsel.

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