How to Maximize Your Frequent Flier Credit Card Points

How to Maximize Your Frequent Flier Credit Card Points
To get the most from your frequent flier credit card, you
need to rack up those points. In this article, we'll
discuss tips on how you can get more from your frequent
flier card and how you can maximize the benefits from it.

What Kind of Travel Reward Credit Card do You Own? If you
own a travel reward credit card, take a look at it and see
if it's a frequent flier card or a generic mileage credit
card. Remember that generic mileage credit cards give you
the option to purchase tickets or redeem your travel reward
points from several choices of airlines. On the other hand,
if your credit card uses a specific frequent flier program,
you're only allowed to redeem your miles points from one
particular carrier.

Racking Up Your Points

Applying for a frequent flier credit card is recommended
for those who travel a lot. If you're not a frequent
traveler, it may be best to apply for a different type of
rewards credit card. For instance, you can earn rewards
more easily with a cash back credit card or a gas station
credit card.

On the other hand, the best way to collect miles points on
your frequent flier account is by purchasing airline
tickets from your affiliate carrier. Thus, if you really
don't travel much, it may take a very long time before you
qualify for a free travel. If that's the case, be sure your
frequent flier card doesn't impose black out dates or you
can end up losing all the points you've collected.

Another way to rack up those points is by using your credit
card not only on your purchases but on paying your bills as
well. Use your frequent flier card to pay your electricity
bills, cable, telephone and other subscriptions. Use it
whenever you refuel in gas stations as well. The important
thing to remember while using your credit card in making
payments is to pay off your charges in full each month.

Remember, you don't want to end up paying for high interest
rates just because you delayed or missed on your credit
card payment. The purpose of getting a reward credit card
is to get incentives for your usage. But if you usually pay
for the interest, you may be paying for more than what you
get from your credit card.

One final reminder, if you're using a frequent flier miles
credit card, keep in mind that the available seats for your
affiliate carrier are only limited. If you're going to a
tourist destination or if you're traveling during holiday
seasons, you may experience difficulty placing your
reservation. To avoid hassles, as you reach your qualifying
miles points, coordinate with your credit card issuer in
advance and make sure that you'll be able to book your
flight early with your affiliate airline. By making plans
and preparations in advance, you can enjoy your free travel
reward without headaches or complications.

----------------------------------------------------
Ann Wilson is the head writer of RewardCreditCardSite.com.
This resource provides consumers with valuable reviews and
information on the best credit card reward programs. Its
main objective is to help people to take advantage of
credit card rewards and start earning reward points. Visit
http://www.rewardcreditcardsite.com for more information.

How 3-1 Credit Reports with Credit Scores will better educate you.

How 3-1 Credit Reports with Credit Scores will better educate you.
A consumer armed with their 3-1 credit report will save
more money than one whom does not have any idea what is on
it. Creditors love an uneducated consumer when it comes to
borrowing money. Did you know a bank can charge a rate
between 1% to 4% difference depending on how aware you are
of the market and your creditworthiness? They are in the
business of making money just like any other company. This
type of difference can be the same for any type of loan,
insurance, and even credit cards. If you are walking out
there with credit report blinders on, I guarantee that you
are paying too much on rates and terms.

Arm yourself against high interest rate bandits
If you take the time to pull a copy of your credit report
with credit scores you will be properly armed with first
hand knowledge of what the creditors and the scoring models
say about your personal credit worthiness. If you are
getting ready to make a purchase, refinance, or just to get
an installment loan, you need to be aware of what is on
your free credit score report. If you don't take to time
and money to get a copy of your credit report with scores,
it will cost you a lot more down the road. Its like going
shopping for tires, everyone has different prices for the
same product. If you don't take the time to do your
research you will pay too much. If you are curious what the
credit score ranges are, here they are according to Fair
Isaac.

The general scoring ranges between 300 ' 850. Fair Isaac
divides the scores into five categories.

780 - 850 - Low Risk
740 - 780 - Medium - Low Risk
689 - 740 - Medium Risk
620 - 690 - Medium High Risk
620 - and Below - High Risk or "sub-prime."

Having a copy of your credit report advantages:
- Better Interest rates
- More savings
- Better Terms on loans
- Check for inaccuracies
- Lower insurance
- Fix errors
- Piece of mind
- Check for identity theft

Hopefully this article has explained some of key points to
being educated about what is in your credit report. Years
ago this access was not even available to the public. Now
that it is you should check your credit report often to
ensure you are educated about your own creditworthiness.

Don't waste any more money; get your FREE credit report
today!

----------------------------------------------------
About the Author: Mike Clover is the owner of
http://www.creditscorequick.com/ . CreditScoreQuick.com is
the one of the most unique on-line resources for free
credit score report, fico score, Internet identity theft
software, secure credit cards, and a BlOG with a wealth of
personal credit information. The information within this
website is written by professionals that know about credit,
and what determines ones credit worthiness.

Keeping Records

Keeping Records
Before summer vacations is a great time to clean out that
growing pile of tax and financial papers that fills your
home and office. Here's what you need to hold, and what you
can throw out without fearing the wrath of the IRS.

Anyway, you 'know' that as soon as the garbage man pulls
away from your curb, the IRS will want exactly those
documents you threw out. Let's look at what are the rules?
What information do you have to hold on to and for how long?

Let's start with your "zone of security", the IRS statute
of limitations. This limits the number of years for which
the IRS can audit your tax returns. Once that period has
expired, the IRS is legally stopped from even asking you
questions about those returns.

The idea behind this is, after a period of years, records
are lost or misplaced, and memory is not as accurate as it
used to be. There's a need for closing things out. Once the
statute of limitations for a specific year has expired, the
IRS can't go after you for additional taxes. However, you
can't go after the IRS for additional refunds, either.

"Three-Year" Rule

In assessing additional taxes, the statute of limitation
runs three years from the date you file your return. If
you're looking for an added refund, the limitation period
is generally the later of three years from the date you
filed the original return or two years from the date you
paid the taxes. There are exceptions:

- If you do not report all your income and the unreported
amount is more than 25% of the gross income that shows on
your return, the limitation period is six years. - If
you've claimed losses from a worthless securities, the
limitation period is extended to seven years.

- If you file a 'fraudulent' return, or don't file at all,
the limitations period never begins to run. The IRS can, in
fact, get you at any time.

- If you're deciding what records you need or desire to
keep, you have to ask what are your chances of an audit. An
audit is an IRS verification of items of income and
deductions on your return. You must keep records to
support those items until the statute of limitations is
over.

If you've filed on time and paid what you should, the
requirement is to keep your tax records only three years.
But some records have to be kept longer than that.

Remember, the "three-year" rule concerns the information on
your tax return. Pay attention, some of that information
may relate to transactions greater than three years old.

Here's Checklist Of The Documents You Should Hold Onto.

1. Capital gains and losses. Your gains are reduced by your
basis -- your cost (including all commissions) plus, with a
mutual fund, any reinvested dividends and capital gains.
However, you may have bought that stock five years ago, and
you've been reinvesting those dividends and capital gains
over the last ten years. Also, don't forget those stocks
splits. So, you don't ever want to throw these records out
until after you sell the securities. Furthermore, then if
you're audited, you have to prove those numbers. So, you'll
need to keep those records for at least three years after
you file the return reporting their sales.

2. Expenses on your home. Cost records for your house and
improvements must be kept until the home is sold. It's just
good to do, even though most homeowners won't have any tax
problems. That's because profit of less than $250,000 on
your home ($500,000 on a joint return) isn't subordinate to
taxes under the 1997 tax legislation enactment. If the
profit is more than $250,000 ($500,000 on a joint return),
or if you don't qualify for the full gain exclusion, then
you're going to need those records for another three years
after that return is filed. Most homeowners won't face that
issue thanks to the 1997 tax law, but better safer than
sorry.

3. Business records. I must warn you: Business records can
be a nightmare. Non-residential real estate is now
depreciated over 39 years. You could be audited on the
depreciation up to three years after you file the return
for the 39th year. That's a long time to hold on to
receipts. However, you may need to show proof of those
numbers.

4. Employment, bank and brokerage statements. Keep your
W-2s, 1099s, brokerage and bank statements to prove income
until three years after filing or longer. Don't even think
about throwing out checks, receipts, mileage logs, tax
diaries and other documentations that confirm your expenses.

5. Tax returns. Keep copies of your tax returns as well.
You can't rely on the IRS to actually have a copy of your
old returns. I recommend my clients keep tax records for 6
years. The bottom line is that you've got to keep those
records until they can no longer affect your tax return,
plus the three-year statute. But that's just for tax
purposes.

6. Social Security Records. You will need to keep some
records for Social Security. Please check with the Social
Security Administration each year to confirm that your
payments have been appropriately credited. If they are
wrong, you will need your W-2 or copies of your Schedule C
(if self employed) to prove the right amount. Don't throw
out those records until after you've prove out those
contributions.

You can confirm your payments and estimate your future
benefits by filing Form SSA-7004 with the Social Security
Administration. You can download the form, or apply online.

While it may bring you some personal satisfaction to review
your financial records from poverty to wealth. It is still
probably time to clean out your growing storage.

----------------------------------------------------
Ken Morrow
Bookkeeping USA
Email: km@bookkeepingusa.com
Web: http://www.bookkeepingusa.com

Stimulus rebates sent early - Why you may not receive one

Stimulus rebates sent early - Why you may not receive one
There is one key point to address first and that is the
rebates are based on that the IRS must first see some 2007
income tax return on file. Due to an eager anticipation to
help the economy the stimulus payments have already begun
to be sent out! On April 28th eight hundred thousand tax
payers began to receive their refunds directly deposited
into their bank accounts. On May 2nd another five million
payments are scheduled to go out. The original scheduled
date for paper checks to have been mailed out was May 16th.
Now the dates have changed and May 9th started the massive
paper check distribution.

The rebates will be sent out according to the last two
digits of your social security number (for married filing
jointly it is according to the first person listed on the
return). The following are dates for people who selected to
have automatic deposit into their banking accounts. If the
last two digits are from 00 to 20 you should receive your
payment no later than May 2nd. Numbers ranging from 21 to
75 have a planned date of May 9th, and the scheduled date
for numbers from 76 to 99 is May 16th.

If you filed your return without selecting direct deposit
your check will be mailed by the following dates in
relation to the last two digits of your social security
number. Keep in mind that all the dates listed are for
filers who filed before April 15th. If you filed close to
or on the deadline, plan on adding another two weeks to the
projected delivery dates.

Last Two Digits of SSN & Date Check To Be Mailed By:

00 to 09 May 16th
10 to 18 May 23rd
19 to 25 May 30th
26 to 38 June 6th
39 to 51 June 13th
52 to 63 June 20th
64 to 75 June 27th
76 to 87 July 4th
88 to 99 July 11th

The eligibility for the rebate is subject to maximum income
limitations. If income exceeds the amount of $75,000 for
individuals or $150,000 for a married filing jointly the
payment is reduced by 5% of the exceeding amount.

Besides meeting the income requirements there are other
reasons you may not receive your stimulus payment. For
example, if you currently owe the IRS money the stimulus
payment will be applied to your balance. This includes if
you are on a scheduled payment plan with the IRS. Also, if
you have not filed previous tax returns the IRS may hold
your check until the return is filed in order to confirm
that there is no outstanding liability. The refund will
also be applied against other non-tax federal debt such as
defaulted student loans or child support. If you have any
other type of IRS hold you will not receive the refund. In
the event that your stimulus payment is applied against any
source of debt the IRS will send you a letter explaining
how the funds were distributed.

----------------------------------------------------
This information was derived from investigating the IRS.gov
website and various other internet sources.
We invite you to visit our website anytime. It is designed
by a tax specialist who is a Certified Public Accountant
and a former Internal Revenue agent with 27 years
experience: It is: 'doggedbyirs.com'

What To Look For And What To Avoid in Rewards Credit Card

What To Look For And What To Avoid in Rewards Credit Card
In the past, reward credit cards were limited to cards with
Frequent Flyer Miles Programs. Today, as credit card
holders continue to grow and as the competition among
credit card companies grows even stronger, the emergence of
rewards credit cards is undoubtedly an effective marketing
strategy in attracting clients.

With this in mind, it is obvious that not all reward credit
cards genuinely bring rewards to its users. Therefore, as a
consumer, it is your responsibility to be aware of reward
credit cards that offer great deals and those that do not.
In this article, let's discuss the features you should look
for and the things you should avoid in a reward credit card.

Features to Look For

The Right Kind of Reward. What particular reward program
can you benefit most from? Are you a frequent traveler? Do
you drive a lot and spend a lot in gas? Or do you just use
your credit card for shopping and groceries? Whether you
choose a Frequent Flier Credit Card, a Gas Reward Credit
Card, or a reward credit card with Cash Back- what matters
is that it matches your spending habits and your lifestyle.

Reasonable interest rates. Obviously, you'll want a reward
credit card with a reasonable APR. Yes, you can avoid the
interest rate by paying your balance in full each month but
you can't always guarantee that you won't need to carry
your balance over for the next billing cycle. The interest
rates alone can kill the value of your rewards. Always be
on the safe side by choosing a reward credit card with low
APR.

Reasonable fees or no fees at all. Aside from a low APR,
check out the other credit card fees such as the annual
fee, late fees, etc. Some reward credit cards with good APR
have no annual fees at all. Clearly, you can get more from
your credit card if you won't have to worry about
additional fees from time to time.

Things to Avoid

Reward limits. A reward credit card may limit your rewards
to only a maximum value. For instance, you can earn points
but as soon as you reach $5,000 value, that's when you stop
qualifying for the rewards. You'll want to stick with
reward credit card that will last you a long time and not
just for short period.

Blackout dates. Blackout dates often defeat your purpose of
getting a reward credit card. Some reward credit card
companies will not allow you to use your points at high
travel times such as Christmas & Thanksgiving. You need to
make sure you are aware of the blackout dates so you can
properly plan your vacation.

Forfeit your rewards. Restrictions are always part of the
deal. For instance, you may strive to rack up your points
for the whole year to get your travel reward. But if you
fail to earn enough mile points, would you be able to carry
over your collected points for the next year? Or will all
the points you earned be forfeited and you'll have to start
from zero all over again?

Also, the timeliness of your payments is a major factor in
getting your rewards. If you delay a single payment, you
may be disqualified from the rewards program. Make sure
that you clearly understand your reward credit card's terms
and conditions on collecting and redeeming rewards.

----------------------------------------------------
Ann Wilson is the head writer of RewardCreditCardSite.com.
This resource provides consumers with valuable reviews and
information on the best credit card reward programs. Its
main objective is to help people to take advantage of
credit card rewards and start earning reward points. Visit
http://www.rewardcreditcardsite.com for more info.