Pay off college debt with free credit cards

Pay off college debt with free credit cards

Published 11/1/10  (Modified 3/23/11)

By Francine Huff

If you're just starting out in the work force, you may be concerned about establishing good credit. You may already have thousands of dollars in student loans and run up other bills, so it's important that any financial products you sign up for won't add to your debt.

Many recent graduates turn to credit cards to buy furniture, a wardrobe for work, and other items they need to strike out on their own. Before signing up for a credit card, do your homework to find one that offers a zero percent interest rate.

Graduating with credit card debt

Graduating from college with thousands of dollars in debt from student loans and credit cards isn't uncommon these days. A 2009 Sallie Mae study found that 84 percent of undergraduates had at least one credit card and that half of students had four or more credit cards. Seniors graduated with average credit card debt of $4,100, up from $2,900 in 2004.

Why get zero interest credit cards?

Getting a credit card with a zero percent rate is almost the same as getting a credit card for free -- at least to start. Some cards may offer a zero percent rate for purchases and balance transfers, while some offer no interest only for transfers.

Having zero interest means you don't pay any interest even if you carry a balance from month to month, so you're borrowing money for free. However, make sure that any


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Federal Tax Brackets 2011

Published 6/23/10  (Modified 6/17/11)

Federal Tax Brackets 2011 By MoneyBlueBook

Although it seems like we already cut a pretty good share of income from our paychecks to satisfy federal income tax demands, most of us had better brace ourselves for a rise in our 2011 federal tax returns as the federal deficit is on track to hit new highs.

Many tax cuts enacted by President Bush in 2001 and 2003 are set to expire in 2010. These cuts were designed to help all income levels: America's low-, middle-, and higher-income workers. The Tax Foundation summarized some of the major changes to the tax code during the last decade:

  • lowered key federal tax brackets (28% to 25%, 31% to 28%, 36% to 33%, 39.6% to 35%) and created the 10% federal tax bracket
  • doubled the child tax credit to $1,000 per child
  • made more married couples eligible for the earned income tax credit (EITC) and raised the standard deduction for joint filers

More Uncertainty Than in Years Past

As the United States budget deficit hits astronomical levels, we have good cause to worry about what "paying our fair share" means. Usually, a number of tax provisions are legally tied to inflation--and as there's not been too much of that lately, you might think the projected tax provisions won't move much.

That was the case for the 2010 income tax bracket projections. But for 2011, the triple whammy of the deficit, the recession, and scheduled expirations to previous tax code changes makes for some uncertainty. As of this writing,

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JetBlue Card From American Express

Published 10/27/08  (Modified 3/8/11)

By MoneyBlueBook

We're sorry, this credit card offer is no longer available.

Here are some alternatives you may find useful:

Best credit cards

0% Balance Transfer credit cards

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Platinum Delta SkyMiles(R) Credit Card From American Express

Published 10/27/08  (Modified 3/10/14)

Platinum Delta SkyMiles(R) Credit Card From American Express By MoneyBlueBook

Editor's Note: Thank you for your interest, this offer expired and is no longer available.

offers the following features:

  • Earn 20,000 bonus SkyMiles(R) (including 5,000 Medallion Qualification Miles) after first purchase and another 2,500 for adding an Additional Cardmember
  • Earn one companion Coach Class ticket each year upon renewal
  • Earn at least 1 mile for every eligible dollar spent
  • Miles never expire and there is no cap on the miles you can earn
  • Pay with Miles: Pay for all or part of your flight with miles - and put the rest on your Card
  • Express Approval. Get a decision in less than 60 seconds.

Click here to apply.

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Gold Delta SkyMiles Business Credit Card from American Express

Published 10/27/08  (Modified 11/21/13)

Gold Delta SkyMiles Business Credit Card from American Express By MoneyBlueBook

offers the following rewards program and features:

When you charge $1,000 in purchases on the card in the first three months from account opening you can get 30,000 bonus miles. In addition you can check your first bag for free and save up to $50 on a round-trip Delta flight You can receive 2x miles on qualifying Delta purchases and 1x mile per dollar for all other eligible purchases. And take advantage of priority boarding so you can get to your seat sooner and get settled. Enjoy the 20 percent in-flight savings on food and entertainment purchases. There is a $0 introductory annual fee for the first year, then the annual fee is $95. Terms and restrictions apply.

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JetBlue Business Credit Card From American Express

Published 10/27/08  (Modified 3/10/11)

JetBlue Business Credit Card From American Express By MoneyBlueBook

offers the following features:

  • Save 3-25% on business expenses from FedEx, Hertz(R), Hyatt Hotels and Resorts(R) and more.
  • Earn 10,000 TrueBlue(R) points with your first purchase - enough for an Award Flight.
  • Jet for less - redeem for a roundtrip Award Flight starting at just 10,000 points. No blackout dates so you can redeem points for any seat, anytime.
  • Earn 1 TrueBlue point for every eligible dollar you spend.

Click here to apply.

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