As with all other cards, there are some things you should know before choosing the right gas rebate card. The one that may look like a great deal may not be as good as you thought at first, but keeping a few simple things in mind will allow you to make an informed and wise decision.

An important thing you should ask is how much cash you will get back on every purchase. Typically, gas rebate cards give you rewards that fall within a certain range, usually from as low 2% to as high as 5%. A higher rebate means that a bigger amount of money comes back to your pocket.

A card that offers you a high rebate percentage may look like the best choice at first, but there are some other things to consider before deciding. Some cards have limitations on where you can fill your tank, allowing you to pay for fuel at any gas station but only rewarding you if you buy from a specific one. Typically, gas rebate cards have arrangements with some gas stations, instead of with all of them. This may be very inconvenient, especially if that gasoline station is far from your home or work, because the cost of the fuel your car uses to get that particular fuel provider may be higher than the rewards you may earn with the card you selected.

Hunt for those credit cards that offer rebates for every purchase, regardless of the place where you get your fuel (unless, of course, you are a client of a specific chain of gas providers, in which case you’ll get customer loyalty rewards too). Even if the cash-back percentage is a bit lower, you will have the freedom to choose where to fuel up your car, rather than being forced to use one fuel provider.

Another thing you should know is that there are cards that offer rebates not only on gasoline, but also on a fair number of other goods and services. These usually have a lower cash-back percentage, but the fact that you can use them to buy many different things at several different places may make those cards a better choice, simply because you are rewarded not only at the gas pump, but also at the market, the 24/7 store, and many other places you may buy from. In addition, some cards offer a dual-rebate model, entitling you to higher rebates when buying fuel, but offering lower ones when you buy other things.

Look for gas rebate cards that come with an introductory reward. There are some of them out there that feature a sweet 8% to 10% rebate during a few months, later decreasing to a more typical 3% to 5%. These cards are especially convenient if you obtain one just before a long trip, because they will allow you to make the most out of that high introductory rebate.

Yet another thing you should ask the card issuer is how and when you will qualify for cashing your earned money. Some cards require that you have a certain amount earned in rewards before you can cash out your money; others will not pay you until you reach a certain number of charges, or until you have been using the card for some time. Be aware of these things when you are evaluating your choices.

Finally, you should consider the important aspects that apply to every card. These include the APR (which determines how much you will be charged if you carry a balance), the annual fee (a fixed amount that will be charged every year just for having the card), and the penalty fees (which apply in the event of you failing to pay your bill on time each month).

If you remember to check every card offer carefully, you’ll be able of finding the best deal on a gas rebate card in very little time. Now you know what to look for, finding the most convenient gas rebate card is up to you. Make your choices right and you will be surprised of how much money you’ll be getting back every month!

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An unsecured credit card is a great way to establish good credit for those with bad credit as well as those with no credit. Most credit card companies are not willing to take a risk on someone who cannot prove that they are a person who can pay off their debts on time, so they will tend to reject you. Many unsecured credit cared companies work with just these types of people in order to help them get their credit established.

Unsecured credit cards do come with their share of catches as well. For most of these unsecured credit cards you will end up with a high interest rate, so if you do use it, you will only want to use as much of your credit as you can pay off each month, otherwise you will get stuck with a big finance charge on your bill the next month. This could put you right back into trouble, so if you are at the point where you need to get an unsecured credit card in order to reestablish good credit, you will want to be wary of overspending.

Many unsecured credit cards will also have extra fees that you may have to pay in order to have the privilege of trying to fix you credit. Not all unsecured credit cards will charge extra fees, but there are some instances where that will happen. These fees are not typically considered an annual fee—some cards will have both an annual fee and these extra fees. If you really want to get your credit back on track, you may have to end up paying these fees in order to get a credit card again. It all depends on the kind of deals that you can get.

The choice to get an unsecured credit card is an important one. If you already have a bad credit report, you will want to do anything you can to repair it. You will also want to realize how much responsibility this new credit card will be. If it is there to fix your credit, do not let your spending on that credit card get out of hand. Use it only to get your credit back on track. Then, once you are reestablished financially, make sure to get rid of the card or transfer your balance in order to get rid of the card with the highest interest rate. You can get your credit back on track with this card.

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When that credit card bill comes, the credit card company expects the owner of the account to make that payment.  How well you keep up with the payments on that credit card and all other aspects of the management of that card is reflected on the card owner’s credit history only, not on the spouses credit profile.  So when it comes to the credit cards that came into the marriage with you, to the bank that services that card, its just you and them.

Those facts are good arguments for some amount of separation of credit use between the spouses.  But there are some strong arguments for beginning to handle credit as a family as well.  You will be buying some things together and some of those purchases will be large.  If you buy a car or a piano for the family, the question comes up which of your credit accounts to use considering that increased balance will impact the credit score of the individual spouse, not the married unit.

The purchase of large ticket items will continue to occur throughout your marriage life so you need to be comfortable with how you do the financing.  For example, when you buy your first house together, that is an exciting event.  But the mortgage company does not look at you as two separate individuals.  You are buying that house together so the mortgage company will examine both of your credit scores and your credit history to determine if you get that loan.  So the credit profile of your spouse and yours to him or her is definitely community property in this case.  Your use of credit will impact each other.  So you might as well starting thinking about credit as a team just like everything else in life.

New Joint Accounts – A Nice Compromise

An option that fits a lot of newly married couples is to leave your pre-existing accounts alone but to take out a joint credit card account.  Unlike becoming authorized users of each others accounts, a joint account means both of your credit scores are evaluated by the credit card company and you are both full owners of the account with full responsibility for making the payments each month.

In every way, becoming partners on a joint credit account merges you into one financial entity.  If you handle the account well, both of you see your credit scores go up.  If you don’t make payments on time or otherwise abuse the account, both of your credit profiles are damaged equally.  Just taking out that joint credit account is like getting married in the eyes of the credit card people because you become a single financial unit, not two individuals.  So be careful how you handle this shared resource.

The shared account is a good way to purchase goods and services that are strictly for the family.  You can use it to buy things for your home both of you use or to pay for repairs for cars that you both own together.  This step acknowledges that you are not two people but a family now and your finances behave like a family unit as well.

But when you make this big step of beginning to share a credit card account, include that account in with a new scheme for handling your family budget and bills.  In most families, the spouse who is best at keeping books pays the bills.  But be “on the same page” about who will make sure that shared credit card is paid off each month. It is wise to have a family financial meeting to go over how things are going so that the use of that joint credit card doesn’t create tension in the family.  But if you come up with a financial management plan for your credit cards, your bank accounts and every other aspect of your shared financial life, that is one more step toward marital bliss.

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What’s Yours is Mind and Mine is Yours – Maybe!

It could be that you or your new husband or wife are not at ease about sharing credit cards that you both had before the marriage.  And if this area of your financial life is going to result in a marital spat, it might be worth it to think twice before combining your accounts.  It is entirely likely that keeping separate credit card accounts makes sense.  So it’s a good thing to think this through so you make the right decision for your family financial picture.

It is quite easy to add yourself to your spouse’s credit cards and him or her to yours.  It is just a matter of adding your sweetheart as an authorized user to the account.  The credit card company will be more than happy to send your spouse that second card to serve as yet another evidence of your marital unity.  Once you have combined all of your accounts, you are as much a financial single unit as you are in your hearts.

It might be a good idea for  you and your spouse to have a honest discussion about how you like to use credit cards before you take this next step in combining your lives.  If one member of the family loves to use the credit card at the drop of a hat and the other considers it to be a tool to only be used in case of dire emergency, that is probably going to result in conflict in the home concerning credit use.  There is no question that if two people are using the same credit account and you both have cards, you can run up a big balance in a hurry.  So some caution is in order.

Something to be aware of concerning credit card use is that even if you both have authorization to use a credit card account, the one of you that opened the account is accountable for how that card is used.  That means that if you built an outstanding credit rating before marriage, when you open your account to your spouse, if that credit card is not paid on time or if you charge over your limit that is going to start harming your credit rating that you worked so hard to build.

When it gets right down to it, if you add your spouse to your credit card, you are responsible for those charges that your husband or wife puts on that card.  This should not cause division between you and your spouse. But it is a foible of our credit system in this country that you should be aware of to make a quality decision.

Did Our Credit Ratings Get Married?

Use used to be that there was a real value to being added to your spouse’s credit account as an authorized user especially if the owner of the account had a great credit rating.  Before 2007, the spouse with the lower credit rating saw that credit rating rise by simply being added to the account of the spouse with the good rating.  But that is no longer the case after the Fair Isaac Corp. changed that part of how credit ratings are calculated.  So don’t allow the positive effect of shared accounts influence your decision about whether to combine your credit activity because it will not change your current credit standing.

A good credit rating for each spouse individually is valuable to you and to the family.  So even if you decide to share your primary credit cards, its not a bad idea for each spouse to have one or two credit cards that are only in your name so you can continue to build a solid credit rating.

Click here to see Part 2: Getting Married To Your Sweetheart’s Credit Cards Part 2

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Most of us have both a credit and debit card in our wallet.  But which one is the better choice for daily purchases?  There are financial gurus like David Ramsey who contend that credit cards are dangerous because we are not aware we are running ourselves into debt.  Still other well known financial advisors are steadfast against the rise of the debit card.  So as consumers its up to us to know the good and the bad of both systems.  Let’s discuss which card might be best for you to help clear up the confusion.

Why the Credit or Debit Buttons?

Sometimes it is confusing when you are using your debit card that you are asked to select credit or debit and push the key as to what kind of transaction you are making.  You would think the computer would know its a debit card.  If you select “credit”, the difference is how the funds are managed.  If you use the “credit” option when paying with a debit card, you usually put a signature on the screen.  That transaction works like a check so it takes a day or so for it to hit your bank account.  But if you select “debit”, that charge works like an ATM and the money comes right out of your account.

This seems like a silly distinction but to the banks it makes a difference.  The truth is that the bank that supports your debit card makes it a little harder to use pure debit which they call an “online” transaction because the bank makes more money if you use the “credit” key.  They call the credit option an offline transaction because it doesn’t go straight to your account.  Instead, it creates the equivalent of a digital check which makes its way through the system the old fashioned way.  But that old fashioned way is better for the bank because they can charge the retailer a fee when you pick that option.  So the bank wants you to pick “credit” which is why they make you put in your pin.  Sometimes a bank will even charge you a fee for hitting debit just to make it advantageous to you to use the credit button and run up a bigger cost for the business you are patronizing.

Now, ordinarily what goes on between the bank and the retailer is none of our concern.  But the banks take the issue to the next level when they impose fees on you, the consumer, for using the “debit” option to pay the bill like it was a cash transaction.  By hitting you with a penalty for using the card the way it was designed to be used, that means how the debit card works does make a difference to you and I because it can cost you money if you make the wrong choice.

When Credit is the Only Option

When it comes to which card is more well accepted, its pretty much a wash.  Many merchants who accept Visa or MasterCard have the mechanisms in place to let you use your debit card if you prefer.  There are some situations where only a credit card will do such as renting a car.  Watch who you do business with because some rental car agencies actually run credit check on you every time you pay with a credit card.  That can make an impact on your credit score.

That Sneaky Credit or Debit Hold

It’s also good to know which businesses use a credit or debit hold when you use a particular card with them.  Many hotels do this which means that the expected amount you will pay when you check out is frozen by a credit hold so you can’t use that credit until you check out.  This practice is even used by gas stations and other businesses that are making sure they get paid.  The system of freezing the funds is also used with a debit card which means real money in your checking account could be frozen for as long as couple days.  Checks could bounce when you really do have that money so this is a practice to watch out for so it doesn’t cause you problems.

Click here to see Part 2: Which Card To Use – Credit Or Debit Cards? Part 2

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