* 0% intro APR on balance transfers for a full 12 months, then the Regular APR
* 0% intro APR on purchases for a full 6 months, then the Regular APR
* 5% Cashback Bonus in categories that change like travel, gas, groceries, restaurants, home improvement stores and more
* Up to 1% unlimited Cashback Bonus on all other purchases

“Loraine Mullen-Kress carries a Bank of America credit card and religiously pays off her balance.

“Flawless credit,” she boasted.

Yet now, her good credit habits could cost her. Earlier this month Bank of America started notifying customers like Mullen-Kress that they will be charged a new annual fee of $29 to $99.”

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There were rumors that credit card debt holders would not be receiving credit extensions, unless they were top flight customers. This bill is to unfreeze that situation from happening to individuals.

If you buy gas at Costco, then check out the True Earnings Costco Credit Card where you can use this for Costco gas purchases and earn 3% back. There is no limit on how much you can earn back with this card.

Based on today’s prices of 4.2 per gallon, lets say it takes you $84 to fill your tank. Lets also say you fill your tank 3x per month. This would total out to $252.

$252 x 12 months = $3024 per year.

Take the yearly total of $3024 and multiply it by your 3% cash back rate and you get a savings of $90 or one free tank of gas. If you only gassed up at BP and used the Chase BP Visa card, you could be saving $151 per year.

So if you want to save money on gasoline, use a gas cash back card and combat the high prices.

What is FICO anyway?

FICO stands for Fair Isaac & Co., which is the name of the accounting company that pioneered credit scoring in the late 1950s. The FICO score utilizes mathematical models to determine a single, numerical value that represents your credit history.

How do credit card companies use my FICO score?

The answer to that question depends on the specific credit card you are applying for. Different cards require different FICO scores for approval. These requirements can generally be divided into three categories: Any, Good and Excellent FICO scores.

What does Any mean?

Any means that almost anyone – regardless of their FICO score – can get approved for this type of credit card. However, keep in mind that a low FICO score indicates a higher degree of risk to the creditor – i.e. you are less likely to be able to pay back the card balance. In such a case, the bank or credit agency will cover its risk by adjusting the terms of the offer to their favor. Even with a card that accepts any FICO score, expect an inverse relationship between your score and the card’s interest rate and late fees. Applications for business credit cards will also have FICO score requirements.

Bottom line: The lower your FICO score, the higher the fees and interest.

What does Good mean?

A good FICO score is a minimum of 675. To have a good score, you must have verifiable and steady employment, a respectable annual income, no more than one late payment and a fairly low ratio of utilized credit to available credit. If your FICO score falls below 675 but you not have incurred any late payments in the last year and your total debt burden is small, you may still be eligible for approval of a card with a good FICO score requirement.

Bottom line: Most credit cards are available to you if you maintain a responsible approach to managing your credit.

What does Excellent mean?

An excellent FICO score is 720 or higher. Excellent scorers have low debt utilization, a fairly high annual income and no late payments within their credit history. Creditors will often woo those with excellent credit scores by offering them low annual interest and cash-back rewards.

Bottom line: Perfect credit will earn you access to the most exclusive credit cards.

Whatever your FICO credit score is, keep in mind that the decision to approve or deny a credit card application is not a purely objective one. Even those with an unblemished credit history may be denied a credit card if they already have a high debt load. If you have been denied credit, request a free copy of your credit report to make sure there are no mistakes on it.

Check your own Credit Score at Experian!

1. American Express Centurion (AKA the American Express Black)

The Centurion is the ultimate high-end card, with less than 10,000 issued worldwide. You can’t apply for the black card – it’s offered by invitation only. Usually though it’s been rumored that acceptance is based on a $200,000 per year spend with never missing a payment. The annual fee is $2,500 and you have to charge a minimum of a quarter-million per year. Besides being able to rub plastic with celebrities and fellow millionaires, what perks does the Amex Black give you?

• The card itself is total bling. It’s made from pure titanium, which will definitely get you noticed at the airport, since it sets off metal detectors!
• Recognized worldwide as the most prestigious credit card.
• Access to a 1-800 number linking you directly to a personal concierge, at your beck and call 24/7/365. There’s nothing your concierge can’t do – from basics like booking concert tickets to more personal services like getting you backstage at the Rolling Stones.
• Free companion tickets on international flights if you’re flying first class (and why wouldn’t you be?) plus 4 free domestic companion tickets every year.
• Bonus points for using Centurion’s personal jet and limo services.
• Free upgrades at the Ritz Carlton and Four Seasons Hotels.

2. American Express Platinum Card

Although not as exclusive as once thought to be, this card still packs in the perks. *Check your credit score before applying as to not embarrass yourself over the phone.
• Starwood Preferred Guest Automatic Gold Status which is good for room upgrades, bonus points, and more.
• Airport club access. Get access to airline clubs for Delta Crown Room, American Airlines Admirals Club, Northwest Airlines WorldClubs, and Continental Airlines Presidents Club around the world. Check the Amex site for locations.
• Premium Car Rental program status – good for upgrades when possible.
• When flying in the U.S., purchase a qualifying coach-class airfare on one of six major U.S. carriers, and receive complimentary airfare for a companion with the same itinerary as your own, up to four times a year.

3. Citi Chairman Card

The Citi Chairman Card offers alot of perks different from the Amex Plat and Centurion cards.
• Priority Pass – Access over 500+ international airline clubs around the world. Excellent for the global traveler.
• Automatic HHonors Gold Status – Instant gold status is good for perks such as room upgrades and free breakfast when staying at Hilton Hotels.
• Cleveland Clinic HealthLink complimentary membership – Memberhsip entitles you access to world-class medical services. 24 hour access to Cleveland Clinic professionals, Facilitated access to appointment scheduling and medical expertise and more.

4. Mastercard World

While no other card can touch the Centurion, Mastercard is certainly trying with its World Card. Offered exclusively to the company’s top 3% of card base – both in terms of income and annual spending – the World Card will run you less than $100 in annual fees. Some of the perks include:
• 24-hour concierge service
• 5 percent cash rebates on travel
• Free doubled warranties on purchases
• No limit on spending

5. Visa Signature

Not to be outdone, VISA has its own exclusive card, the Signature. If you take home $125,000 a year, you may qualify for this chi-chi card. Fees vary, from $0 – $95, depending on the issuer. Perks include:
• 24-hour concierge service
• $1 million in travel insurance
• 1 travel point for every dollar spent, which can be redeemed for free air fare with no blackout dates
• Free room upgrades and late checkout at the Ritz Carlton
• Free airport parking anywhere in the continental United States
• No spending limit

If you’re in the market for one of these cards – or at least trying to wrangle an invitation – make sure your income, spending power, credit score and credit history are all in the zone. To be an exclusive cardholder, you’ve got to prove you can afford to live the perk-filled lifestyle.

Visa does not have credit risk like issuing banks do. Visa, like MasterCard make their money on transaction charges.

For more information on the Visa stock IPO. Check out Marketwatch.

• 0% Intro Annual Percentage Rate (APR)† on balance transfers and cash advance checks for your first 12 billing cycles.
• Earn 1 Point for every dollar you spend in net retail purchases.§ Points are redeemable for cash, brand name merchandise, travel with no blackout dates, dining certificates and more.
• No Annual Fee
• Redeem points for World Series of Poker® buy-ins and merchandise.
• Redeem points for airline tickets on major U.S. airlines with no blackout dates, unlimited cash rewards, car rentals, brand name merchandise or gift certificates.
• Card issued by FIA Card Services, N.A. (USA)

Apply Now!

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