American Express Facebook page offers effortless discounts to cardholders

By Melissa Rudy

American Express, the company known for offering some of the best rewards credit cards, just broke new ground with a social networking campaign that delivers discounts and special offers directly to the customers who want them. This customized credit card marketing strategy is linked to AmEx's Facebook presence, and the discounts are offered only to members who sign up for them on the American Express business page.

AmEx uses Facebook to personalize special offers

American Express is the largest credit card company in the world by purchase volume, and it aims to stay that way, so this personalized marketing strategy should come as no surprise. It relies on new technology--and cutting-edge ways of using that technology--to refine cardholders' expectations and customize special offers individually, based on Facebook profiles and online preferences.

"We're running algorithms to serve up offers that are relevant to your likes, your preferences, and your friends," said Edward Gilligan, vice chairman of American Express...

By Maryalene LaPonsie

I was probably about 19 when I stood in line at the supermarket and whipped out my credit card to pay for some groceries. I don't remember what I was buying, but it was apparently too much for the older man behind me. He couldn't help but ask how I was going to pay my credit-card bill. My flippant response was something to the effect of "My kids will take care of it when I die." He rolled his eyes, and I rolled them right back. Now that I am slightly older and, ahem, more mature, I can see the error of my ways. At the time, I had the profile of a credit-card abuser … racking up debt with reckless abandon. No doubt, I expected a money tree to bloom in the backyard at any moment. But truth be told, without a plan, it is just a matter of time before you self-destruct under the weight of impulse purchases and mounting interest rates.

Savvy shoppers, on the other hand, fall into three profiles when it comes to credit-card use. If you don't see yourself in one of these profiles, it might be time to re-evaluate whether you are credit-card user or an abuser.

The Zero Balance Shopper: These shoppers have perfected the art of leveraging zero...

By Alise Ramey

Whether you're just finishing school, or a few years out, it is important to build credit. The best way of doing this is by finding a credit card that works with you, that fits your lifestyle, and one that offers something in return. Travel rewards credit cards can fit the bill for this.  

Traveling on the cheap

Traveling this summer doesn't have to be expensive. By getting a travel rewards card, you can save money while you enjoy yourself. There are some travel / frequent flyer credit cards that offers, perfect for someone who is young and looking to increase their credit score while also traveling.

Travel credit cards tend to offer excellent benefits for frequent travelers. They allow you to earn points and airline, hotel, and general travel rewards on most purchases made with your credit card.

So which cards should you look into?...

By Jennifer Hale

If you're anything like me, you do some instant weeding when you get credit card bills in the mail. Your bill or statement goes into the "do this later" pile, and the envelope, ad inserts and privacy statement get dumped straight into recycling. Maybe, if you're a little more diligent, you save the privacy materials for your filing cabinet, where they collect dust and cobwebs next to documents from years past.

You may have the best cash back credit card or one of the best zero interest credit cards, but by ignoring the privacy policies, you may be creating significant hassle for yourself in the long run.

What does your credit card company know about you?

Think about it. Your card--that piece of plastic that has molded its shape into your wallet--may know more about you right now than most of your friends. Where you shop, what you spend, your habits when repaying (or not repaying). All that information goes back to the issuing company, which has on its hands a treasure trove of data.

After all, our spending habits are extremely valuable to companies that want to market to us. A picture of you as a shopper--who prefers Target to Wal-Mart or spends $500 versus $2,000 a month--helps marketers know what to try to sell you...

By Jim Sloan

It was Christmas time, and I was going through the checkout of a large chain department store with a shopping cart full of stuff. I was spending far more than I normally would, so when the cashier asked if I was interested in saving 10 percent right on the spot by simply applying for a store credit card, I shrugged and quickly agreed.

Six months later, when I finally crawled out from under the suffocating 25 percent interest rate charged against the balance on that card, I vowed to never again get a store credit card. Not only did I sign up without reading the fine print--always a mistake in the credit card business--but I also didn't count on only being able to use the card for just that one chain.

Little did I know that there were other reasons to avoid store credit cards in favor of something better like a rewards credit card or a 0 balance transfer card. So I did a little poking around and found three other big reasons to just say no to that kindly cashier's offer for a store credit card. Here goes:

1. Your credit score may suffer

According to Reuters, just opening a store brand card will lower your credit card 60 points, which is a pretty big dent and could damage your chances if you happen to also be applying for a car loan or mortgage. If you apply for a lot of store cards in a short period of time, you could find it difficult to...

By Jim Sloan

Credit cards come with all kinds of special features these days--zero interest balance transfers, free money rewards and even cash back promotional offers.

But many credit cards also often come with some kind of extended warranty for products you purchase with the card. What this means, usually, is that the credit card company will extend the terms of the original manufacturer's warranty for a period of time equal to the original warranty up to one year. Some extensions are only for six months, however.

In other words, if you purchase something with a 90-day manufacturer warranty on one of your zero percent credit cards that offers an extended warranty, you will enjoy a 180-warranty period. If you buy something on that card with a five-year warranty, you'll have six years of coverage.

The credit card's responsibility for covering your purchase only kicks in after the original manufacturer's warranty runs out.

Many people confuse extended warranties with things called "service contracts." Service contracts are a repair program you purchase from a store or a manufacturer which ensures that if your purchase breaks--either through faulty construction or because you brought your laptop into the bath with you and it got wet--it will be repaired or replaced free of charge.

Credit card warranty extensions are not service plans. Credit card warranties typically only cover defects in materials or workmanship; they won't protect you if you shower with your Macbook Pro.