Money Blue Book

Honestly, I’m starting to regret posting my financial numbers online for all to see. It’s one thing for anonymous strangers or random online readers to be intimately aware of my current financial net worth, but it’s another mild hassle altogether when friends or family know where I stand financially at all times. It just injects a bit of awkwardness into my personal and social relationships I feel.

Just a few days ago my brother asked me to contribute to his law school tuition fund. He’s currently working full time and juggling evening law school classes. His federal government office pays for the majority of his law school tuition expenses, but there is still a little bit leftover that he needs to cover out of pocket. I’m sure his awareness of my current financial state via my personal finance blog at Money Blue Book makes it easier for him to feel comfortable approaching me for money knowing that I probably have the means to provide some measure of financial support. I doubt he would have felt as comfortable asking me for a handout or a loan if he were not acutely aware of the specifics of my monthly cash flow or personal balance sheet.

Offering Loans To Family and Friends Is A Bad Idea – Don’t Give Money To Others That You Wouldn’t Feel Comfortable Giving Outright For Free

I have an unwritten rule for myself that I will never loan money to family or friends, even if it’s to bail them out of a difficult financial situation such as bankruptcy. I would prefer to provide them the money outright as I deem fit to avoid all the unnecessary and potentially negative relationship issues that may arise from the need to call in contractually obligated loan payments. I am not averse to giving money outright on a charitable basis to help a loved one, but I will never permit someone to borrow money from me due to the potentially foreseeable wedges that the loan and the issue of money may drive in our relationship. In the past I have loaned money to friends before and have experienced the dread and hassle of needing to constantly remind them to pay back the loan, and dealt with the reciprocal resentment of me even asking. Lending money to people who are good for it and guaranteed to pay the amount back on time without question or prompting is a joy and a breeze, but the vast majority of borrowers, particularly those who are friends or family, are less than model borrowers. Besides, oftentimes you are potentially setting a bad example when you bail the friend or family member out financially rather than compel the person to learn and utilize responsible self reliance techniques. As CNBC financial host Suze Orman always recommends – sometimes “you have to say no out of love, than yes out of fear or weakness”. It’s corny but true.

Thus, in regards to my brother’s request for a monetary contribution to his law school fund, I turned him down. The reason he seemed to be cash strapped was not really because of his tuition expenses alone, but attributable to a monetary shortfall caused by increased rental expenditures and higher relationship spending. I recommended to him that he seek out Sallie Mae for a small federally subsidized low interest student loan for education funding, or go apply for a 0% balance transfer credit card if he only needs a little bit of money as a one or two month stop gap measure. That’s how I personally stayed financially afloat when I was in law school – through a combination of parental financial support, low interest credit cards, and student loans. By depending on student loans and my own revolving credit, I learned a valuable lesson – the ability to rely on oneself when it comes to money and personal finance. I also told my brother to stop calling me rich whenever the issue of money came up – I got to where I was because I worked hard, made frugal decisions, refrained from lavish expenditures, and seized business and investment opportunities quickly and timely before the perfect moment was lost. I was not born with a self entitled silver spoon in my mouth, but studied hard, worked hard, and made key financial sacrifices along the way.

With that tangent aside and back to the topic of this post, I have provided my financial net worth calculations below for all to examine. I chart my financial journey every month so I can evaluate my progression towards my financial dream of becoming a millionaire and financially independent someday. It’s a marathon journey and I’m still a long ways off, but so long as I continue to make money, save money, and invest in income producing assets, someday the dream can and will become a reality.

My Current Net Worth and Financial Status Update Compared To Last Month

Focusing On Defensive Asset Preservation By Saving Money In FDIC Protected High Yield Savings Accounts and CD’s

It’s difficult not to watch CNBC or Fox Business News and not feel a sense of unease and pessimism emanating from the stock market investment community. While there remains a few bullish pundits who continuously make repeated calls of a market bottom, many of those overly optimistic commentators have already been completely discredited with their wholly inaccurate and off the mark predictions. Much like the nutty National Association of Realtors’ perpetually optimistic sales pitch of “it’s always a great time to buy a house”, bullish financial commentators have lost their credibility in my opinion. In my assessment, the deteriorating credit markets and economic indicators are suggesting a severe and prolonged period of recession, signaling that more corporate layoffs and bankruptcies are yet to come. President elect Barack Obama and his proposed suggestion of an insanely high $1 trillion economic stimulus package may inject some much needed liquidity and money into the economic system, but even that will not be sufficient to jump start the economy for several years. The only way the market will recover is through the passage of time to work itself out, eliminating inefficient banks, striking out failed unionized labor strangleholds, and doing away with unprofitable and redundant corporate entities like at least one of the big 3 American automakers of Ford, GM, or Chrysler. Obviously, I’m staunchly opposed to any form of auto bailout at taxpayers expense. The market must be allowed to recover organically because that is the only way the economy will recover back to efficient equilibrium.

In light of this extremely bearish environment, I’ve decided to go on a saving spree – scrimping and hoarding away as much savings as I can. In the face of more difficult times ahead for the United States economy, I have essentially gone into a defensive asset preservation turtle shell in terms of my current investment and savings strategy. While I continue to earn a very healthy and steady income stream of $50,000-60,000 a month (through my legal business, various ventures, and online websites), after paying off expenses and setting aside certain amounts for various liabilities, I continue to store the vast bulk of my money away in multiple FDIC insured safe investments like high yield savings accounts and certificate of deposits (CD’s), ever mindful of the FDIC insurance limit of $250,000 for each insured account at any one banking entity. I have completely halted my previously active stock investment activity (much to the chagrin of my discount brokers) and will stay on the sidelines until the financial storm and economic recessionary pressures have eased. However, one thing that I am very aware of is that historically, the stock market has always rebounded approximately 6 months before the actual economy. I plan to take this historical statistic into consideration as I chart out my long term investment strategy in the months ahead. While I am adopting a defensive investment strategy right now, I am still mindful of the existence of potential future opportunities out there.

Taking Into Consideration My Future Tax Liability By Keeping Track Of My Estimated Tax Payments

As I am primarily self employed, running my legal, financial, and even online businesses from my home office, I have to contend with quarterly estimated tax payments to the Internal Revenue Service (IRS). Estimated tax is the way self employed people pay tax on income that is not subject to withholding. Since I myself am my own employer, I do not have income tax withholding. Pursuant to IRS regulations, estimated tax payments must be made four times a year on four specific payment due dates for the 3 immediate months prior – on April 15, June 15, September 15, and January 15. Since I have no tax withholding, in my net worth calculation, I need to set aside a portion of my monthly cash flow that will go towards my quarterly tax payments to get a more accurate picture of where I stand in terms of net worth. Thus as you can see on my net worth chart above, I have included a sum of money that will count as a tax liability account payable to be applied against my cash and other assets. Of course, when I actually make my quarterly tax payments, the tax liability account payable will be removed, along with the same denominational amount from the cash category.

Planning To Buy A Home – But Still Debating Between A Condo And A Detached Single Family Home

Despite depressed housing prices and a stagnant real estate market, I’m still set on my goal of buying a home and getting a piece of the long sought after American dream of home ownership. With 30 year and 15 year fixed home mortgage interest rates approaching historical lows of 5 to 6%, now is a great time to buy a home – but only if you can snag a home at an exceedingly great discount. We are currently in a tremendous buyer’s market right now and for prospective buyers such as myself, we have a strong tail wind on our side. On a human level, I feel a measure of sympathy for existing home sellers who have witnessed the complete wipe out of their multiple years of built up home equity, but at the same time as a potential buyer, I feel vindicated in my belief and cautious stance back during 2004-2007 when I decided home prices were severely over inflated. Because I was able to refrain from joining the housing lemming pack’s run up in the last few years, I saved myself from plunging over the housing market cliff when prices ultimately went splat.

With years of savings in hand, I’m now in a better position to negotiate favorable mortgage rates and take advantage of a favorable buyer’s market to secure the ideal home for myself. Currently I’m still debating between buying a 2-3 bedroom condominium or a 3-4 bedroom single detached house. As I am still currently single, I have little actual need for the size or spacial benefits of a large home, but at the same time, I am a bit leery about buying a condo, primarily because I would have to contend with non-tax deductible condo fees in the process. However, detached homes require much more expensive upkeep and care in the form of yard work and expenditures when it comes to household appliances – things I’m not sure I want to deal with at this moment in time. Then again, single detached homes offer a tremendous amount of freedom to customize and personalize, much more so than condominium apartments – luxuries that are the very beneficial essence of purchasing a home to begin with. These issues will likely stay on my mind as I begin the slow process of visiting open houses and browsing online real estate listings. Feel free to share any personal words of home buying advice.

Updated List Of The Best Capital One Credit Cards Below

What’s In Your Wallet? – So goes the motto and promotional tag line from those zany Capital One credit card ads we’re always seeing on TV. When it comes to Capital One, the credit card company’s message is clear -  it wants you to evaluate your choice of credit cards and make sure you are taking steps to maximize all cash back credit card rewards and low interest opportunities available to you.

Capital One is one of the major credit card issuers in the United States, having distinguished itself over the years with its wide reaching mass marketing efforts, particularly during the 1990’s when the company experienced tremendous growth and a phenomenal surge in market share. Through its aggressive marketing and promotional efforts, Capital One has situated itself as a major player in the credit card market with its huge and broad lineup of credit card products. Since its initial start into consumer lending, Capital One has joined the ranks of Citibank Citi Cards, Bank of America, JP Morgan Chase, Discover Card, and American Express as the dominant credit card lenders in the U.S. and Canada. Today, the company is actually one of the largest, if not the largest independent issuer of Mastercard and Visa credit cards. The company has since transformed itself into a giant bank holding company with a diverse brevy of financial services and products that include credit cards, auto loans, home mortgage loans, small business loans, and various interest-bearing high yield savings accounts and certificate of deposits.

Capital One’s Quest To Mass Market and Diversify Its Financial Services Beyond Just Credit Cards Offers Customers More Choices

Capital One made its name in the national credit card business by utilizing a mass mailer approach to appeal to a wide spectrum of credit card consumers, from subprime bad credit credit card applicants to high FICO score candidates. Since its decision to re-brand itself into a diversified national banking institution, the company has been steadily buying up regional banks and growing its base of consumer deposits. Most recently, Capital One bought Chevy Chase Bank, a major local regional bank with a huge network of banking branches in my neck of the woods of Maryland, Washington D.C., and Virginia. While Capital One’s continued quest to invest in regional banks across the United States has allowed it to stave off some of the devastating negative effects of the subprime mortgage crisis that has eliminated several other major banks like Washington Mutual and IndyMac, the overall economic downturn has not left the company completely unscathed. Due to the deteriorating economic climate, recessionary pressures, and unemployment effects, card consumers as a whole have been getting slower at paying off their credit card bills, contributing to the rise in credit defaults and delinquent loans.

While Capital One has significantly less direct exposure to toxic subprime mortgages than most of its peers, it has significant exposure to the problematic consumer and small business credit card market. However, due to its steady conversion and transition into a major bank holding company through local acquisitions, the company is likely to weather this current economic storm well and remain a financial leader in the credit market by taking key steps to stay competitive. In response to the economic malaise, Capital One has since pulled out its major subprime credit card offerings in favor of credit card reward and 0% balance transfer purchase programs that encourage more responsible credit card usage.

Apply For Capital One’s Pre-Established List Of Credit Card Rewards and Low Interest Deals, Or Build Your Own Offer With The Capital One Card Lab

One of the distinguishing factors of Capital One is its staunch focus and emphasis on program customization and providing a large array of choices for consumers and business owners. This strategy and approach is completely different from that promoted by Discover credit card or Advanta credit card, which rely on a small portfolio of highly targeted products. Instead, Capital One offers every credit card reward, 0% balance transfer offer, and airline miles credit card feature possible, all packaged into varying forms for those with differing credit worthiness scores. Currently, you can find a Capital One card offer for just about any interest rate or reward formula, at any credit rating or credit score level. In fact, the company even offers you the ability to build your own personalized Capital One credit card to suit your needs and purposes using the Capital One Card Lab, the centerpiece of its recent television and print advertising efforts.

With the Capital One Card Lab, you have the ability to create a customized credit card package by choosing your own APR interest rate, credit card rebate, airline travel rewards, cashback percentages, introductory deals such as 0% balance transfer or 0% purchases, or annual fee (if any). Of course, it’s a give and take as you can’t have everything Capital One gives you in one card and all of your choices will be balanced out in some way. For example, if you want to earn the highest cash back rewards, you may have to give in to a slightly higher interest rate or a shorter introductory balance transfer period. However, if you want low interest or 0% balance transfer and purchase offers, you may have to settle with fewer rewards. The choice is up to you when you decide to customize using the Capital One Card Lab instead of going with pre-existing Cap One offers.

The Best Credit Card Offers Are Reserved For Those With Excellent Credit Scores, But Average Credit Seekers Have Options Too

When it comes to its array of credit card products, Capital One card offers are issued based on the applicant’s credit score and credit report history. The credit levels of – excellent, good, average, or limited – will determine your card’s terms and conditions. Obviously those with higher FICO credit scores will get the best 0% APR teaser rates and enjoy the highest purchase rewards compared to their bad credit credit card counterparts. To determine your Capital One credit level, here is a quick guide to the qualification requirements and specifics. The dollar figures in parenthesis “(  )” are approximate credit limit ranges offered depending on your credit level type.

• Excellent Credit ($500-$20,000) – Must have had a loan or credit card for at least 5 years with credit limit above $5,000, and have not been more than 60 days late on any credit card, medical bill, or loan in the last year. Must never have declared bankruptcy.
• Good Credit – ($500-$15,000) – Have had a credit card for 3 years or more with credit limits above $5,000, and have not been more than 60 days late on any credit card, medical bill, or loan in the last year.
• Average Credit - ($300-$3,000) – Have had a loan or credit card before, with credit limits less than $5,000. May have been late on more than one credit card, bill, or payment in the last 6 months.
• Limited Credit -  ($300-$3,000) – Have never had a credit card or have limited usage of it. Have a limited credit history, for example due to status as a student, new to country, age, or having been an authorized user on someone else’s credit card. Needs to have a valid credit score from one of the major credit reporting companies.

List Of The Best Capital One Credit Cards:

The following are reviews of the best Capital One credit card offers. Instead of applying for existing offers, you are free to mix and match your own preferred card program with the Capital One Card Lab. If you are not inclined to build your own credit card from scratch, feel free to select from the following recommended offers depending on your credit level.

No Hassle Cash Rewards and Point Rewards

1. Capital One® No Hassle Cash(SM) Rewards -  (Good Credit) – Automatically earn 2% cash back on purchases at gas stations and grocery stores, and 1% cash back on all other purchases. There is no limit to the cash back rewards you can earn, and your cash rewards never expire. You can also save money with a 0% APR purchase rate until August 2010. There is no annual fee.
2. Capital One® No Hassle Cash(SM) Rewards – (Average Credit) – Earn unlimited 1% cash back on all purchases with this card, along with a 25% annual bonus on the cash rewards you earn during the year. There is a 0% APR offer for all purchases until May 2010, with no annual fee.
3. Capital One® No Hassle Points(SM) Rewards – (Excellent Credit) – Earn unlimited 2% back (2 points per dollar) in point rewards for purchases at gas stations, grocery stores, and drug stores, plus 1% back for all other purchases. Enjoy a 0% introductory interest rate on purchases until August 2010. There is no annual fee
4. Capital One® No Hassle Points(SM) Rewards – (Average Credit) – Earn unlimited 5% back (5 points per dollar) for purchases made at gas stations, major grocery stores, and drug stores, and get 1% back for every dollar spent on other purchases. Your reward points never expire for the life of your account, and the reward credit card also features an ongoing 0% APR offer on purchases until May 2010. There is no annual fee.

No Hassle Airline Mileage and Travel Rewards

1. Capital One® No Hassle Miles(SM) Rewards 1.25 Miles Rewards (Excellent Credit) – Earn unlimited 1.25 miles for each dollar spent on purchases (25% more than regular airline miles credit cards). Your reward miles can be used to redeem for cash, gift cards, or book travel with any airline, hotel, cruise line, or rental car provider with no blackout dates or seating restrictions. Purchases also enjoy 0% APR interest until August 2010. There is no annual fee. Those with only good credit, as opposed to excellent, should apply for the good credit version of this No Hassle Miles reward card.
2. Capital One® No Hassle Miles(SM) Ultra-For Professionals – Earn unlimited 2 miles per dollar spent on all purchases, redeemable for cash, gift cards, or travel rewards with no redemption blackout dates or seating restrictions. This reward card is a very high mileage earner, perfect for personal heavy airline travelers or small business owners.
3. Capital One® Orbitz® Visa Signature – Those with excellent credit can earn 3% back in rewards points for money spent on eligible Orbitz bookings, and 1% back on all other purchases. There is no point limit on rewards that are redeemable  for travel, cash back, and gift cards. There is no annual fee. Those with only good credit, as opposed to excellent, should apply for the lower credit limit good credit Orbitz Platinum Card, and those with only average credit should consider the average credit Orbitz Platinum Card instead.

Low Interest Rate, Balance Transfer Offers, and 0% APR Purchases

1. Capital One® Platinum Prestige – Mastercard - Those with excellent credit ratings can save money with this Capital One credit card’s 0% APR offer on both balance transfers and purchases until August 2010. Thereafter, you get a low interest rate with no annual fee.
2. Capital One® Platinum – (Good Credit) – Those with at least a good credit history can save money via a 0% introductory offer on balance transfers and purchases until August 2010. There is no annual fee pursuant to this 0% credit card offer.

Card Offers For Those New To Credit, Or Those With Limited Or Average Credit History

1. Capital One® Standard Platinum – (Average Credit) – Those with only average credit can qualify. Annual fee is $19.
2. Capital One® Platinum Max(SM) – Those with only average credit can qualify for a competitive fixed interest rate that won’t change for at least 3 years. The annual fee is a low $19.
3. Capital One® Classic Platinum MasterCard – With either the Classic Visa or Classic Mastercard version of this particular low interest Capital One offer, those with average credit can also enjoy 0% APR on all purchases until May 2010. The annual fee is $19.

Updated List Of The Best Discover Credit Cards Below

In the United States and Canada, most people are familiar with major credit card networks like Visa, MasterCard, and American Express. However, fewer people have had experience or exposure to another quiet, but big player in the credit card industry – Discover Card. Introduced in the 1980’s as the preeminent card of choice for the Sears department stores (the dominant retailer at the time), the Discover Card has had its share of ups and downs in terms of card acceptance and popularity, and has been facing a tough battle for its piece of the pie recently. Currently, Discover has the lowest market share of any major credit card issuer in the United States, and overall card acceptance at smaller stores and remote markets remain spotty. Most of the major merchant stores and retailers take Discover for payments, but smaller retailers and more obscure websites are less likely to accept it. However, despite the highs and lows over the years, the Discover Card has managed to evolve its program with attractive offers to grow with the times and remain continuously relevant.

The Discover Card was the first credit card I ever applied for and my first exposure to the use of revolving debt. I applied for the Discover Card back in high school during the height of its popularity, because at the time it was my parent’s primary credit card for everyday purchases. Since then, I’ve applied for other cards, but my old Discover Card remains a nostalgic favorite that I still use for niche purposes like gas credit card purchases or interest free transactions like 0% balance transfers. One thing I’ve noticed about Discover is the credit card program’s resiliency over the years in the face of stiff competition from giants like Visa and MasterCard. Despite the current credit crisis in the financial markets that has wrecked havoc and caused major pullbacks in card offers among major credit card issuers like Bank of America and Citibank, Discover has not retreated from its existing array of promotions.

Discover Card’s Benefits Include High Cash Back Credit Card Rewards and Attractive Balance Transfer Offers

Because of its relatively small share of the credit card market, Discover Card has needed to distinguish itself to consumers by offering more competitive reward credit card deals and more appealing 0% balance transfer promotions than most. The company has a history of frequently sending out mailers to prospective customers with tantalizing 0% APR and low interest balance transfer for life offers. Among the many benefits of carrying a Discover card, not the least of which is that the card has no annual fee, the card offers a relatively attractive selection of card offers to pick from. Discover Card currently has four line ups in its credit card offerings – the Discover More, the Discover Motiva, the Discover Open Road, and the Discover Miles card – and all four card types offer its own different reward and interest free benefits packaged into consumer, business, and student card variations. For example, the Open Road Discover card type appeals to drivers with its high cash back credit card reward rebate for gas purchases, and the Miles card appeals to business airline travelers or consumers who want to rack up frequent flyer miles quickly for free airline tickets. Other than the Discover credit cards issued directly by Discover, the company also issues Discover branded cards under the trademark of other major retail names like discount giant Walmart and wholesale warehouse Sam’s Club.

All Discover cards also qualify for high reward earning opportunities under the Shop Discover Card program. By shopping through the ShopDiscover website portal to visit its broad lineup of online stores such as Barnes & Noble, Sports Authority, Circuit City, and Hotwire, cardholders can earn extra rewards up to an additional 5-20% cash back on all purchases.

Exclusive Discover Business Credit Card Benefits Such As Free and Easy To Use Purchase Checks That Actually Earn Rewards

For its top business credit card line up, Discover also offers a very unique and intriguing benefit – the ability to write and issue fee-free Discover Card Purchase Checks. Sometimes, small business owners or entrepreneurs run into merchants or suppliers that do not accept credit cards. Discover PurchaseChecks work just like your regular credit card. When you encounter a store or retail merchant that does not accept credit cards or specifically, the Discover Business Card, simply write a check out to the merchant for the amount of your purchase. The check will appear with all your regular Discover Card transactions as a regular purchase, helping you with expense accounting and bookkeeping. Purchase Checks may be used to make any business related purchase when credit cards would otherwise not be accepted. Best of all, there is no fee or charge to use Purchase Checks and transactions are recorded as credit card purchases. All checks written get the standard interest rate offered to ordinary credit card purchases rather than the high interest rate demanded of cash advances. Quite remarkably, amounts written on Purchase Checks also earn credit card rewards, something almost unheard of among other credit card reward programs.

Of course, this raises a very interesting proposition and a rather sneaky idea for consumers and part time small business owners like myself. As we all know, consumers and non-business owners can apply for business credit cards by submitting their Social Security Number as their business ID on business credit card applications. As such, ordinary consumers can apply and qualify for business credit cards like the Discover Business Card to take advantage of benefits like  Purchase Checks. One interesting idea for credit card reward seekers would be to utilize rebate-earning Purchase Checks to pay the rent, which for many people is frequently in excess of $1,000 a month easy. For the rule abiding folks, the official stated policy of Discover Card is that PurchaseChecks may not be used to pay rent, but I guess it begs the question – how would Discover Card otherwise be able to realistically tell the difference between Purchase Check payments that you write to your landlord, and checks given to genuine business merchants? Just something to ponder about.

Current Acceptance Of Discover Card In the U.S. And Around The World

I don’t think anyone really thinks the Discover Card program is completely lacking in the way of credit card purchase rewards or 0% balance transfer offers. The knock against Discover Card has always been their seemingly weak acceptance and usage rate in the US and other foreign locations where Americans predominantly visit. Despite reportedly having over 50 million cardmembers in the Discover Network, unlike its more well known competitors like Visa or MasterCard, the Discover Card is neither widely issued nor widely accepted outside of the United States and Canada. Even in the US, while it’s accepted at most major locations like gas stations, supermarkets, mall outlets, department retailers, and online stores, it’s not always compatible with all retail merchants that accept credit card payments.

Undeterred, Discover continues to expand its adoption nationally and internationally, signing semi-exclusive agreements with certain major retailers, and partnering with big time credit and debit card networks in the US and overseas. Discover currently has a special card agreement with major retailers Walmart and Sam’s Club to issue store branded Discover cards. Per arrangement, wholesalers like Sam’s Club currently only accepts MasterCard and Discover, but not Visa or American Express. Despite the lack of international acceptance overseas, Discover has been making major inroads into countries like China, having recently signed a partnership agreement with card payment network China Union Pay (the largest credit card network in China) to accept Discover Card payments anywhere that displays the Union Pay logo. This means that you can pull out your trusty Discover credit card to pay anywhere that accepts China Union Pay.  Like Capital One credit cards, neither Discover nor Cap One charge extra interest fees for foreign credit card transactions, making them the best international credit cards to own. While places like China still remain primarily a cash based economy, card usage is growing rapidly and as China Union Pay remains at the forefront, Discover stands to enjoy unique growth potential in future market share.

Reviews Of The Top Discover Credit Cards (Consumer, Business, and Student) With Rewards and Balance Transfers:

1) Miles Card by Discover Card – Earn double reward miles on up to $3,000 in travel and restaurant purchases every year, and 1 mile for every dollar you spend on all other purchases. This offer is Discover Card’s best travel rewards credit card for earning frequent flier airline miles and free airline tickets. While this card is mostly about airline miles, you are also given the option to exchange earned miles for cash, travel credits, or gift cards – it’s up to you. Mileage rewards can be used to book free airline travel anytime with no black out dates or restrictions. There is no earning limit or maximum cap on the miles that may be earned, and all rewards you accrue never expire. There is also no annual fee. Currently, pursuant to this online offer, you can earn up to12,000 Bonus Miles – 1,000 Bonus Miles each month you make a purchase for your first year*.

2) Discover More Card – (formerly the Discover Platinum Card) – Get 5% cash back bonus rewards with the Discover More credit card in categories that change and alternate throughout the year like gas, groceries, restaurants, travel, department stores, and home improvement stores. Plus, cardholders get an extra 5% to 20% cash back on purchases made at major retailers through Discover Card’s online shopping site, ShopDiscover. All other purchases automatically earn rewards, with unlimited 1% cash back on all transactions. The More Card features a 0% balance transfer offer for a year with a 4% fee.

Currently, the Discover More Card also comes in several different card designs, however their terms and conditions do not otherwise vary significantly:

• Discover More Card – This is the standard Discover More card variation that most people seek out and apply for.
• Discover More Clear Card – This variation features numerous modern art inspired card designs to select from.
• Discover More Sea Life Card - If you are a fan of Flipper, Little Nemo, or simply are a supporter of the ocean and the fish, dolphins, whales, and coral reefs that inhabit it, then this may be your card design of choice to express that support.
• Discover More Wildlife Card – This Discover More variation offers card designs that feature mostly land and air animals like wolves, eagles, horses, and seals.
• Discover More American Flag Card – This classic patriotic card design features the American flag on its face. Nothing screams American consumerism like a red, white, and blue credit card.
• Discover More Monogram Card – This custom credit card design features your own personal name initials displayed in large artistic lettering on the plastic card face.

3) Discover Motiva Card – Earn up to 1% unlimited cash back on all purchases with the Discover Motiva card. This particular card features an interesting twist on the usual credit card rewards program. Along with your normal cash back rebates up to 1%, each time you make 6 on time payments in a row, you’ll receive a Pay-On-Time bonus reward equal to a full month’s interest added to your cash back earnings. This is a very intriguing incentive to motivate you to pay off your card balance on time and earn extra bonus rewards in the process. As with almost all Discover card rewards, your cash back earnings can be doubled in value if redeemed through Discover’s network of online retail partners. There is no annual fee.

4) Discover Open Road Card – (formerly the Discover Gas Card) – Get 2% Cashback Bonus automatically at any gas station and any restaurant.
In addition to the gas rewards, cardholders earn unlimited 1% cash back on all other purchases. Plus they can earn 5% to 20% rebate rewards for spending money and making purchases at major store retailers through ShopDiscover. Rewards may be doubled when they are used to redeem for gift cards through a list of over 100 Discover retail store partners. There is no annual fee.

5) Discover Business Card – ($100 Sign Up Bonus) – With the Discover business reward card, you can receive up to 5% cash back rewards on office supplies, 2% on gas, and up to 1% on all other purchases. Cardholders can also earn up to 5 to 20% more in cash back rebates at top retailers through Discover’s exclusive online shopping website. Your purchase rewards can be doubled when you take them as gift cards or gift certificates from many of Discover’s online retail partners. There is also an introductory 0% APR offer on purchases for 12 months, and a low interest balance transfer promotion for 6 months. However, the best card feature is the ability to write fee-free Purchase Checks to pay merchants who don’t accept credit cards. As with most business card programs, cardholders also enjoy free employee cards with customizable card limits and monthly reporting metrics on their spending. There is also no annual fee.

6) Discover Business Miles Card – With the Discover business mileage reward card, you can receive double reward miles on travel and gas purchases up to $5,000, and 1 mile per dollar for everything else. Miles can be redeemed for airfare travel or reduced prices on airline tickets for most major U.S. based airlines, on any seat, with no blackout reservation dates. Miles can also be redeemed for cash or gift cards from a huge selection of brand name partner stores. Currently the card is offering an instant bonus reward offer of 12,000 bonus miles upon card application approval, along with an introductory 12 month, 0% APR offer for all purchases. Business owners, entrepreneurs, or regular consumers operating as sole proprietorships get access to Discover Card’s exclusive reward earning Purchase Checks that can be used to pay merchants that don’t otherwise accept credit cards. There is no annual fee.

7) Discover Student Card – With the Discover student credit card, cardholders get a 0% introductory APR on credit card purchases for 6 months, plus enjoy 5% Cashback Bonus®* in categories that change like travel, department stores, gas, groceries, restaurants, and more means extra money for you, and extra toppings for your pizza.

Card holders also earn up to 1% cash back on all other purchases. The Discover Student Card is much easier to qualify for compared to regular consumer cards as it doesn’t rely on stringent income or credit checks.

• Discover Student Clear Card – Same as the regular consumer version of the Clear Card, but with lower credit limits and less picky credit approval standards.
• Discover Student Card Monogram Collection – Like the consumer version, this student version of the More Card features your name initials on the card as its design.
• Discover Student Card Tropical Beach – This card features all of the benefits of the standard Discover More card, but with a tropical beach card design.

Updated List Of The Best Advanta Credit Card Offers and Applications For Small Businesses Below

Compared to its bigger financial rivals like Citibank, Bank of America, JP Morgan Chase, American Express, or even Discover, Advanta Bank has been a relative unknown in the credit card and banking industry. However, over the years, Advanta has gradually and quietly built itself up to become a major niche market issuer of business credit cards. What started out humbly as a small financial operation from Pennsylvania that provided personal loans to teachers has transformed into a major (albeit not particularly well known) player of the small business credit card industry. Currently, Advanta Bank focuses on the small business market, and the company primarily gears its efforts towards creating credit card and banking products that fit the needs and appeal of small business start ups, aspiring entrepreneurs, and growing companies. Along with being one of the largest, if not the largest provider of small business credit cards, Advanta also offers a diversified variety of bank deposit products that include FDIC insured savings accounts, money market accounts, and certificate of deposits.

Advanta Is One Of A Very Few Number Of Major Credit Card Issuers That Exclusively Service The Business Credit Card Market

Advanta’s exclusive focus on the small business market seems to differentiate it well from the other major card issuers that have a tendency to over saturate the market with too many confusing financial products that are heavily advertised and promoted, but don’t always fulfill the appropriate small business need. The best targeted strengths of Advanta issued credit cards are their low fixed interest rates, long term balance transfer deals (15 months or more), and generous cash back credit card reward and rebate programs that feature no reward earning caps. Currently, all Advanta credit cards offer at a bare minimum, the ability to earn at least 1 reward point per dollar spent on business purchases, redeemable for rebate rewards like cash, free travel, gift cards, merchandise and more.

Small business owners, corporate start ups, or sole proprietorships looking to organize their business expenditures onto a single credit card program may want to evaluate and review Advanta for themselves as a possible business credit contender. Having a dedicated business credit card offers unique and tailored benefits not offered by regular consumer cards, including substantially higher credit limits and much more attractive purchase reward incentives. Typical free and time saving business card benefits such as itemized employee expense tracking, and online tools for credit card accounting and bookkeeping are also included. Additional free business benefits include the function to add additional employee credit cards to the account, order personalized checks, create customized expense reports, view and pay Advanta bills online, and perform promotional balance transfers.

In its efforts to introduce small business credit card products that fit the needs of business owners as well as fulfill other potentially worthy public interest objectives, Advanta has recently launched the Kiva Business 4 Business Project, fashioning credit card offers that not only allow cardholders to earn cash back credit card rewards, but at the same time promote charitable card reward donation for aspiring entrepreneurs and fledgling businesses in the developing world in the form of matching Advanta-Kiva loan grants.

For Regular Consumers Interested In Advanta Offers, Keep In Mind That Even Non-Business Owners Can Apply For A Business Credit Card

Business credit cards offer noticeably better benefits compared to regular consumer cards, including much higher spending limits and much more lucrative credit card reward programs. However, while many ordinary consumers may be attracted to the benefits of business cards, some may be reluctant to pursue or apply due to their lack of ownership in an actual business. Dispelling the myth, one of the most common misconceptions about business credit cards is that only actual small business owners or those who have applied and received an Employer Identification Number (EIN) can qualify for a business credit card – that presumption is false. In actuality, anyone can legitimately qualify for a business card, as non business owners can apply for business credit cards without automatic disqualification. All the card applicant has to do is apply for the business credit card utilizing his or her Social Security Number (SSN) as the application form-requested business identification number. When individuals apply for business cards using their SSN without having a EIN, they are simply applying as a sole proprietorship, which is simply any business operation with just a single member, regardless of actual income or profits. There is no legal prerequisite to call yourself a sole proprietorship and no paper work is involved. Simply using your personal name as the name of the business will suffice for business credit card application purposes.

Reviews Of The Top Advanta Business Credit Cards With Rewards and Balance Transfer Offers:

1) Advanta Platinum Unlimited Rewards BusinessCard – With the Advanta Platinum Unlimited Rewards card, not only do you get an introductory 15 month, 0% APR offer for balance transfers, you also earn 1% reward rebates on all card purchases that are redeemable for cash, airline travel, and merchandise. Along with the usual business credit card benefits, the Unlimited Rewards card is customizable with your company’s name on the top of the card. There is also no annual fee.

2) Advanta Customizable Platinum Business Card With Unlimited Rewards – The customizable Advanta Platinum Unlimited Reward card is the same as the regular version in the way of terms and conditions except you have additional customizable options at your disposal, such as the ability to personalize the card with your company’s name, trademark logo, or colors. As with most Advanta business cards, you also get a 15 month, 0% balance transfer introductory offer, along with the ability to earn unlimited 1% purchase rebates. There is no annual fee.

3) Advanta Business World Master Card – This particular business card offer from Advanta is first and foremost very purchase reward centered, allowing you to earn 1% reward rebate on all purchases with an additional bonus of 50% worth of extra reward points every year. In regards to reward point redemption, there is no cap on the cumulative rewards that can be earned and accrued, and there are no airline travel restrictions or blackout dates for reward flight redemption. There is also no preset spending limit or annual fee with this card.

4) Advanta Net 90 Platinum Business Card – Always creating new products for small business customers, Advanta presents the 90 day grace period business card that allows consumers and small business owners the ability to enjoy continuous and recurring 90 days worth of 0% interest free purchases. This is not an introductory limited time offer, but a permanent no interest feature that allows you to pay 0% APR for 3 months automatically after all credit card purchases made on your account. This business reward credit card also earns 1% back with a generous credit limit and no annual fee.

5) Advanta Kiva Business Card – With the Advanta-Kiva Business credit card, you’ll not only earn purchase rewards for yourself, but all earned rewards that you contribute as a charitable donation to the Kiva charity will be matched by Advanta, and sent out to help small growing businesses in developing countries. The public interest minded Kiva organization provides micro loan grants to help fund entrepreneurs and small business start ups in less developed areas of the world. Cardholders also get to earn a 5% bonus statement credit on the first $1,200 each year spent on Kiva grants, charitable donations, and other eligible purchases. The Kiva card also provides an attractive 0% balance transfer offer for an industry leading 15 months, with no annual fee.

6) Advanta Kiva Credit Card For Business Professionals – This particular Kiva credit card offer from Advanta Bank is designed for non business owning professionals who want to earn credit card rewards for their purchases but at the same time do some public good by helping entrepreneurs and small businesses in less fortunate countries through the Kiva charity via micro loan grants. As a charitable incentive, Advanta will match the micro loan charitable contributions offered up and donated by the cardholder accrued from his or her Advanta credit card purchase rewards. The card also offers Advanta’s popular 15 month, 0% APR balance transfer offer with a low fixed interest rate thereafter. This Advanta Kiva credit card also allows cardholders to earn .25% cash back rebate on purchases up to a full 1% back, with no annual fee to worry about.