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Credit Cards Reviews

Recently I was given some information on how credit card reviews are calculated. Do you agree? Did you know?

HOW REVIEWS ARE CALCULATED

The goal of our credit card reviews and our ratings is to provide objective, useful comparative information that will help you choose the right card for you. To do so, we’ve devised a list of factors that we believe are most relevant to cardholders within each category and weighted those factors by level of importance. We’ve then scored each factor, based on a model of the average credit card holder and compiled all of those scores into an overall 5-star rating.

The factors that go into calculating the reviews for each category are as follows:

Student cards

  • Introductory offer (20 percent)
    We look at the introductory APR, introductory APR for balance transfer and the length of the introductory period, and assign a score to them based on how they compare to other cards in the student category.
  • Interest and fees (40 percent)
    Since student cards are targeted toward new users just learning to manage their credit, the costs of missing a payment or carrying a balance gets the greatest weighting in this category. We look at the regular APR, annual fee and penalty APR, and assign a score depending on how it compares to other student cards.
  • Rewards program (30 percent)
    The next biggest factor is the rewards value. We calculate the estimated rewards value using a formula based on $1,325 per month of spend, averaged over three years. The formula includes an average rewards rate, sign-up bonus, annual fee and average redemption value for the rewards. We assign a score based on how the rewards value compares to other student cards. We also look at the flexibility of the program, considering factors such as expiration dates, point limits, minimum points required to redeem and restrictions on redeeming rewards.
  • Features (10 percent)
    We look at the quantity, uniqueness and value of the features for each card and rate them on a scale of 1-5. We look for features that are specifically valuable to students, especially features that help new cards users manage their credit.

Rewards cards

  • Estimated rewards value (47 percent)
    We give this factor the greatest weighting in the rewards category. We use a formula to calculate the estimated yearly value, assuming $1,325 per month of spend, averaged over three years. The formula includes an average rewards rate, sign-up bonus, annual fee and average redemption value for the rewards. We then assign a score depending on how the estimated rewards value compares to other cards.
  • Annual percentage rate (APR) (3 percent)
    Rewards card users generally don’t want to carry a balance, so APR is a small part of the rating for the rewards category. We assign a score depending on how the average APR and the intro APR compares to other rewards cards.
  • Rewards flexibility (40 percent)
    Rewards points aren’t useful if you can’t redeem them, so the flexibility of redemption is a large part of our scoring for rewards cards. We rate factors including expiration dates, restrictions, blackout dates, limits, minimum redemption thresholds and ability to transfer points on a scale of 1-5.
  • Features (10 percent)
    We consider the quantity, uniqueness and value of the features for each card and rate them on a scale of 1-5.

Balance transfer cards

  • Introductory offer (75 percent)
    We give the most weight to the value of the introductory offer. We compare the length of the introductory period, transfer fee and introductory APR against other cards in the balance transfer category and assign a score.
  • Net value (15 percent)
    The overall value of the card, including the costs of carrying a balance, is weighted heavily in our calculations. We compare the regular APR, annual fee, late fees, penalty APR and rewards rate against other cards in the balance transfer category to assign a score.
  • Features (10 percent)
    We consider the quantity, uniqueness and value of the features for each card and rate them on a scale of 1-5.

Cash back credit cards

  • Estimated rewards value (47 percent)
    We give this factor the greatest weighting. We use a formula to calculate the estimated yearly value, assuming $1,325 per month of spend, averaged over three years. The formula includes an average rewards rate, sign-up bonus and annual fee. We then assign a score depending on how the estimated rewards value compares to other cards.
  • Annual percentage rate (APR) (3 percent)
    Cash back card users generally don’t want to carry a balance, so APR is a small part of the rating for the rewards category. We assign a score depending on how the average APR and the intro APR compares to other rewards cards.
  • Rewards flexibility (40 percent)
    The flexibility of redemption is a large part of our scoring for cash back cards. We rate factors including expiration dates, the ease of earning and redeeming cash rewards, limits on cash back, minimum redemption thresholds and ability to transfer points on a scale of 1-5.
  • Features (10 percent)
    We consider the quantity, uniqueness and value of the features for each card and rate them on a scale of 1-5.

Low interest credit cards

  • Rates and fees (85 percent)
    We look at the overall expense of owning the card, including rates, fees and penalties. We give the largest weighting to the cost of carrying a balance on the card over a three year period, which we calculate using the regular APR, introductory APR and length of the introductory period. We also rate the assortment of fees on the card and the penalty APR.
  • Rewards (5 percent)
    Rewards programs tend to drive up rates and fees on a card, so we give them a minor weighting in the low interest category.
  • Features/Perks (10 percent)
    We consider the quantity, uniqueness and value of the features for each card and rate them on a scale of 1-5.

Business Credit Cards

  • Estimated rewards value (42 percent)
    We give this factor the greatest weighting in the rewards category. We use a formula to calculate the estimated yearly value, assuming $4,000 per month of spend, averaged over three years. The formula includes an average rewards rate, sign-up bonus, annual fee and average redemption value for the rewards. We then assign a score depending on how the estimated rewards value compares to other cards.
  • Annual percentage rate(APR) (3 percent)
    We assign a score depending on how the average APR and the intro APR compares to other rewards cards.
  • Rewards flexibility (35 percent)
    Rewards points aren’t useful if you can’t redeem them, so the flexibility of redemption is a large part of our scoring for a business card with rewards. We rate factors including expiration dates, restrictions, blackout dates, limits, minimum redemption thresholds and ability to transfer points on a scale of 1-5.
  • Features (20 percent)
    We give a strong weighting to features that enable business owners to track expenses and manage multiple accounts. We consider the quality and number of features, especially business relevant features – such as financial tracking software and free employee cards with individual limits – and rate them on a scale of 1-5.

Travel cards

  • Estimated rewards value (47 percent)
    We give this factor the greatest weighting. We use a formula to calculate the estimated yearly value, assuming $1,325 per month of spend, averaged over three years. The formula includes an average rewards rate, sign-up bonus, annual fee and average redemption value for the rewards. We then assign a score depending on how the estimated rewards value compares to other cards.
  • Annual percentage rate (APR) (3 percent)
    Travel card users generally don’t want to carry a balance, so APR is a small part of the rating for the rewards category. We assign a score depending on how the average APR and the intro APR compares to other rewards cards.
  • Rewards flexibility (40 percent)
    Rewards miles aren’t useful if you can’t redeem them, so the flexibility of redemption is a large part of our scoring for rewards cards. We rate factors including expiration dates, restrictions, blackout dates, limits, minimum redemption thresholds and ability to transfer points on a scale of 1-5.
  • Features (10 percent)
    We consider the quantity, uniqueness and value of the features for each card and rate them on a scale of 1-5.

Airline cards

  • Estimated rewards value (47 percent)
    We give this factor the greatest weighting. We use a formula to calculate the estimated yearly value, assuming $1,325 per month of spend, averaged over three years. The formula includes an average rewards rate, sign-up bonus, annual fee and average redemption value for the rewards. We then assign a score depending on how the estimated rewards value compares to other cards.
  • Annual percentage rate (APR) (3 percent)
    Airline card users generally don’t want to carry a balance, so APR is a small part of the rating for the rewards category. We assign a score depending on how the average APR and the intro APR compares to other rewards cards.
  • Rewards flexibility (30 percent)
    Rewards miles aren’t useful if you can’t redeem them, so the flexibility of redemption is a large part of our scoring for rewards cards. We rate factors including expiration dates, restrictions, blackout dates, limits, minimum redemption thresholds and ability to transfer points on a scale of 1-5.
  • Flight options (10 percent)
    We rate the airline program on the number of options it offers for flights, including number of airline partners, number of daily flights, number of destinations and the number of countries served.
  • Features (10 percent)
    We consider the quantity, uniqueness and value of the features for each card and rate them on a scale of 1-5.

Hotel cards

  • Estimated rewards value (47 percent)
    We give this factor the greatest weighting. We use a formula to calculate the estimated yearly value, assuming $1,325 per month of spend, averaged over three years. The formula includes an average rewards rate, sign-up bonus, annual fee and average redemption value for the rewards. We then assign a score depending on how the estimated rewards value compares to other cards.
  • Annual percentage rate (APR) (3 percent)
    Hotel card users generally don’t want to carry a balance, so APR is a small part of the rating for the rewards category. We assign a score depending on how the average APR and the intro APR compares to other rewards cards.
  • Rewards flexibility (30 percent)
    Rewards points aren’t useful if you can’t redeem them, so the flexibility of redemption is a large part of our scoring for rewards cards. We rate factors including expiration dates, restrictions, blackout dates, capacity controls, minimum redemption thresholds and ability to transfer points on a scale of 1-5.
  • Hotel options (10 percent)
    We rate the hotel program on the size and breadth of its hotel portfolio, considering the number of properties and the number of countries where properties are located.
  • Features (10 percent)
    We consider the quantity, uniqueness and value of the features for each card and rate them on a scale of 1-5.

As credit card offers change, we will periodically review this information and update the ratings based on the new offer terms.

Copyright 2018 CreditCards.com. All Rights Reserved.

 

ADVERTISER DISCLOSURECreditCards.com is an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which CreditCards.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. Other factors, such as our proprietary website’s rules and the likelihood of applicants’ credit approval also impact how and where products appear on the site. CreditCards.com does not include the entire universe of available financial or credit offers.

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Is Your Toothbrush Packed?

Do you pack any of these?

Toiletries

  • Toothbrush
  • Dental floss
  • Earplugs
  • Eye covers
  • Airplane pillow
  • Concentrated laundry soap
  • Clotheslines
  • Quick-dry towels
  • Shampoo/conditioner
  • Hair products
  • Comb/brush
  • Hair bands/clips
  • Facial products
  • Deodorant
  • Kleenex/TP
  • Tampons
  • Razor & blades
  • Nail clippers/file
  • Small scissors
  • Tweezers
  • Body lotion
  • Sewing kit
  • Dryer sheets for laundry bag
  • Sanitary wipes
  • Hand sanitizer
  • Lip balm

Once again…seems like a lot of stuff! I certainly don’t pack all of this. I only take what I’m going to need.

I have never used an eye cover or an airplane pillow. You may like them. Since I’m not going to camp, I don’t take quick dry towels. Make the list work for you.

I do use a dryer sheet in my laundry bag. It just helps a little to keep everything from smelling like dirty laundry if I have to stuff it in my suitcase.

Pack a small envelope of sanitary wipes in your purse, your carry-on bag, and your suitcase. Never know when you might need one.

Maybe you don’t use lip balm, and don’t want to take it along. That’s okay. But, did you know it can be used to tame frizzy hair ends, soothe dry cuticles, protect the skin from windburn, and even unstick a stubborn zipper? Yep. Lip balm.

 

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Smile…or Not!

Again…is your passport up to date?

First, know when your passport expires. Some countries require the expiration date to be more than six months from that date.

Next, the State Department tells us you are responsible for looking like your passport photo. Have you added or removed facial tattoos or birthmarks? Have you lost a significant amount weight, especially in your facial area?

If so, you may need a new photo.

Speaking of photos, here are some rules that may be new since the last time you had yours taken.

Remove your glasses.

Make sure the background is the correct color.

Don’t smile too much. Yet, look natural…if you can! I was told not to smile at all and my photo looks like I belong in the post office for most wanted!

Next, pay the correct fee if submitting for a renewal by mail. No sense getting the renewal rejected.

Make sure you take or send any supporting documents with you.

Check for online renewal. Not sure if it’s coming soon or not.

Last, check with the State Department for more rules and clarifications. https://www.state.gov/

 

 

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Do I Really Need That?

Planning your trip? Wondering what you need and hoping you don’t forget anything?

Maybe this list will help.

For Health and Fitness, think about packing some of these…

  • Prescriptions
  • Medical devices and chargers
  • First Aid Kit
    • Flex-band aids
    • Tapes
    • Gauze
    • Thermometer
    • Antibacterial Hand wash
    • Antacids
    • Nose drops
    • Eye drops
    • Antibiotics
    • Vitamins/minerals
    • Antihistamines
    • Sudafed/Benadryl
    • Analgesics
    • ASA/Tylenol
    • NSAIDS
    • Sleep Aids/RX
    • Melatonin
    • Anti-diarrhea meds
    • Antibiotic ointment
    • Sunscreen
    • Bug-repellant
    • Lip screen
    • Moleskin

Sounds like a lot. Right?

Well, you don’t need to pack a whole lot of each item. You certainly don’t need to pack things you know you won’t need.

Not going to travel where bugs are a problem? Leave the bug repellant at home. Never use prescription sleep aids? Don’t pack them.

You get the idea. These are suggestions. I do pack many of these, but in very small quantities. My vitamins take up the most room.

Speaking of vitamins… This is a tip I learned from a travel professional. Get some small, resealable, plastic bags from your pharmacy. Place your daily vitamins or meds in them, using one per day. You can label the day on them, if you think you might not remember. They’re easy to pack, you can either toss the empty bag or reuse it, and you’re not taking a large bottle of pills along with you.

Keep in mind, if you take prescription drugs, keep them in the original container. If that is too large, ask your pharmacist for a small travel bottle with the prescription clearly stated on it. You will alleviate trying to explain what those pills are.

 

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How’s Your Passport?

Is your passport about to expire? You don’t know?

It’s time to take it out and look at it. Check the expiration date. Then, think about when you will be traveling.

You may need to apply for a new one. Check out this new information from the Department of State.

 

Effective April 2, 2018, the passport execution fee will increase from $25 to $35.  The $10 execution fee increase only applies to U.S. passport applicants using the DS-11 form, such as first-time applicants over 16, children under 16, and applicants who re-apply after reporting their previous passport lost or stolen.

The $10 fee increase does not apply to adults eligible to renew their passport by mail using the DS-82 form.  Renewal customers can mail their application and supporting documentation to the Department of State and should not apply at a passport acceptance facility or pay an execution fee.

Customers applying with the DS-11 form pay two separate fees: an application fee to the U.S. Department of State and the execution fee to the passport acceptance facility. Passport acceptance facilities such as post offices, clerks of court, or public libraries are designated to accept passport applications on behalf of the U.S. Department of State.  With more than 7,600 acceptance facility locations, customers applying for the first time can find a convenient location to apply for their passport. Some acceptance facilities are open nights and weekends and take passport photos on-site.

The Department of State generally sets consular fees at an amount calculated to achieve recovery of the costs to the U.S. government of providing the consular service. The latest Cost of Service Model showed that the costs associated with passport execution were higher than the current fee of $25.

The proposed fee change was published in the Federal Register as a Notice of Proposed Rulemaking and public comments were accepted until November 18, 2016, 60 days after the Notice’s publication. The Final Rule, implementing the change, includes the Department’s response to relevant comments received.

For more information, you can go to the State Department’s website, https://travel.state.gov/content/travel/en/News/passports/execution-fee-increases.html.

 

 

Other than the price increase, you shouldn’t wait to apply beyond April, because the time it takes to process a passport will be longer due to increased demand.

One more important note: for frequent travelers, when you apply for your passport, make sure you ask for the extended number of pages—about 50 instead of the usual 24.

Why? Because once you fill up that passport with country entry and departure stamps, the U.S. State Department will no longer add pages to your passport.

You’ll be forced to get a new one.

 

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Lists…Do You Need Them?

Frist thing…let’s talk about packing lists. Yes, lists.

It’s a good idea to keep a master packing list on your computer. You can modify it for short trips, longer ones, international trips, trips to visit family, and whatever works for you.

You don’t like lists? Okay with me. Skip this part. Me…I’m going to have a list.

Realizing the following list is quite comprehensive, take a look, and then modify it to fit your needs. If you were to take everything I’ve thought of, you’d need a small army to carry your bags.

Remember, these are just suggestions.

Here goes…

Documents

  • Itinerary
  • Passports
  • Visas
  • Separate info record of passport docs
  • International Driver’s License
  • Regular Driver’s License
  • Bank Cards
  • 2 separate credit cards
  • List of cancellation numbers
  • Print-out of addresses where you will be staying
  • Health plan cards/info
  • Cash, U.S.
  • Cash, local
  • Copies of passport photos

Let’s talk about these items and why it’s important to have them. Also, let’s talk about where you should keep them when you travel.

Your entire itinerary is handy to have on you, in your purse or carry-on bag, or a pocket in your jacket. Why? Looking up your confirmation number, hotel address, or flight number just got easier if this information is all in one spot or on one document.

Passports, driver’s licenses, credit cards, cash, and health care cards are best kept in your wallet. That way, they are easy to retrieve. My wallet and my travel purse are both RFID. What does that mean? Radio frequency identification is a technology that incorporates the use of electromagnetic or electrostatic coupling. What this means for you is, this technology prevents readers from picking up the data in your wallet or purse. Supposedly, unsavory characters could walk by you and ‘grab’ your data from your passport, credit card, or bank card without you even knowing it. It’s like an electronic pick-pocket. With RFID, they can’t. That data is blocked.

Do you need this? Up to you. I just feel safer…and my wallet is cool. Plus, I could buy a new purse.

I digress.

Multiple passport color copies…again why take them?

If your passport was lost or stolen, you could take the copies to the nearest U.S. Embassy to expedite getting a temporary passport. Important if you want, or need, to get home quickly.

Stash your copies in a separate place from your actual documents, so if you lose one, you’ll likely still have the other. You could email your passport number to yourself or simply email the scans of the documents. I’ve created a travel document file in two of my cloud storage spots. That way, I can find them…as long as I remember the password!

Why is the list of cancellation numbers important and where do you keep this? If, your wallet was stolen, you need to cancel your credit cards. Some companies will notify you, especially if a large purchase is made or your card gets used in a country not on your travel list. That’s why it’s important to let the credit card companies know which countries you will be traveling to. Not a good idea to keep this in your wallet or purse, however. Stash it somewhere in your luggage or your carry-on bag.

I always get some cash ahead of time to use at my destination. Some banks will order Euros or other foreign currency for you. That way, you don’t have to get cash right after you land. Using the airport ATM or exchange counter might not be in your best interest as their rates are almost always higher.

 

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Pack…And You’re Ready to Go

 

If you’ve looked at any travel journals, blogs, websites, or guide books…you probably already know everybody and their mother has packing tips. Why?

Packing is an essential and important part of travel. But, you don’t HAVE to pack. You could buy everything once you get to your destination. Right?

I suppose. If you have the time and money to do that…go right ahead.

Seriously, it works both ways.

You don’t need to pack everything you might ever need. You really can buy some things that you didn’t pack. Let’s say you checked the weather and it says it never rains in Rome in July. This year, it does. Trust me…umbrella vendors will pop up like spring flowers. For a few Euros, pick up a cheap umbrella and don’t sweat the fact you didn’t pack one.

If you’ve traveled very much, you might already have a packing method you like. Or, maybe not. You could be one of those travelers who throws everything on the bed the night before and then crams it all into your suitcase, hoping everything will fit. If that works for you…go for it.

That’s just too much stress for me. That’s why I have a couple of different methods, depending on how long I will be gone.

So, whether you have a proven way of packing or want some new advice, new ways of doing things, and new suggestions…keep reading.

And, if you have some methods which work for you, let me know. I’m always open to new suggestions.

In fact, I always learn something every time I travel. I just learned something about airport parking from a shuttle bus driver… You just never know.