When you use your Discover Card on purchases through December 2010, each purchase could garner you 1 million dollars. That’s not all, every day 75 prizes are given away daily for all 365 days of 2010!

Here are some things that you spend money on everyday, that could get you that $1,000,000

• Grocery Stores


• Gas Stations


• Movie Theatres


• Salons and Spas


• Home Improvements


• Restaurants


• Utility Bills

The more you use your Discover card the more likely you are to win, if you have not yet applied for a Discover card, you can get one today, which also features a 0% intro APR along with a low, competitive interest rate.

People ask all the time how to get their credit report for free, because they always have to give out their credit card to get a report. A credit card is not used to verify your identity, blah blah blah, it is used to lock you in after the trial membership you are signing up for. Companies like Freecreditreport.com, Transunion.com etc offer you packages like free 3 credit bureau plus score for free, for the first month.

Currently there is no place to get your free credit report + score, but if you want your free credit reports, you are entitled to them at http://www.annualcreditreport.com. You are only allowed 1 free one per year from each credit bureau, so if you need another one, a denial letter will still get you one.

Prepaid cards are growing in popularity, as more and more people are finding out about their uses. For those of you who haven’t discovered how well prepaid cards can work for you, please read on.

The government pays benefits like unemployment and social security on prepaid cards, which works especially well for people who do not have a checking account or a credit card. Now people can receive their paychecks electronically along with having the ability to make purchases online, check into a hotel and many more things that the convenience of a credit card can do.

Most people can have their employer set up direct deposit to your prepaid credit card account as well. This means no more trips to pick up your check, or waiting for it in the mail, quicker payments, and the convenience of having a visa/mc for purchases.

Another popular use for prepaid credit cards is for foreign travel. Prepaid cards offer a safer, secure way to travel abroad without worrying about carring cash on you at all times. Some cards even offer ways for you to lock in on better exchange rates, however I haven’t read up on that yet.

If you are interested in comparing prepaid credit cards and opening a prepaid credit card account please review all the terms and fees, so that you can get the best rates, and most affordable package.

Teens looking for a prepaid credit card

Discover card is offering a 0% on purchases until July 2010 and 0% APR on balance transfers until November 2010 plus receive 5% cash back bonus in popular categories. In addition there is a coupon for $75 cashback bonus when you make $599 in purchases using the invitation code DCCS. The 0% APR goes through the last day of the billing period ending during the month the promotion ends. The rewards are redeemable starting at $20. In order to get the 75 valid cashback bonus the Discover card you need to apply by January 20, 2010 and you also need to spend the $599 and purchases with your new card within the three months that you are approved. You will receive the promotional reward within eight weeks. This reward is in addition to any other cashback rewards you earn.

Click here to apply for a DiscoverCard with an 0% intro APR offer – remember to use Invitation code: DCCS

Although each credit bureau has their own algorithms to make up your credit score, the general factors are all the same, and are in order of most important.

• Making timely payments


• Debt to Credit Ratio


• Length of time or age of credit tradelines


• Types of credit (Installment or Revolving)


• Amount of New Credit

Paying your bills on time is the single most important factor in your credit score. Missing one payment can really knock your points down.

Your debt to credit ratio limits is next in the credit scoring algorithm. The more outstanding debt you have, compared to your total credit line will start to lower your score. Lenders want to see that you are not over extending yourself.

Next, the age of your credit. Your score goes up as you show you pay on time, year after year. Lenders know they can trust you, when you show that you can pay over time.

Auto loans and mortgages (installment loans) have a more powerful effect on your score as these are long term loans, that cover several factors, they show payment history, they are usually for 5-30 years so you get timely payments, plus you get the age of the tradeline.

New credit usually impacts your score negatively at first, having a lot of new credit will result in a red flag to lenders, as they may see you as more of a risk.

Apply for the American Express Gold Card Here

Looking for the contact number or phone number for the American Express Gold Card, the number is 1-800-327-2177, in case you lost your American Express Gold card and can’t find the number located on the back of your Gold Card, the number is available for you here.

I hope this helps.

Unless there is an annual fee, then the answer is a definite no! The reason you don’t want to close your credit cards is because the longer the credit history, the higher your score. Another reason, is your balances are calculated at the ratio of all your credit cards.

For example: if you have 3 credit cards with $1,000 credit limits and 2 of the cards have a $0 balance and one has a $500 balance your debt to credit ratio is $500/$3,000 or 16.6%. If you close one of the $0 balance cards, you now have a ratio of $500/$2,000 or 25%. Having a higher debt to credit ratio, will also lower your score.

I would recommend that you put a tank of gas or a grocery purchase on the unused cards at least once a year, as some will impose a fee, or close your accounts for inactivity.

The reason credit scores vary from credit reports, and creditors, is because there is a fakko score, a vantage score (used by Experian) and the the most accurate Fico Score. You can get the same credit scoring method that creditors use when they pull your credit for mortgages, auto loans, and credit cards. This credit score variation only deals with a credit score from the CRA and the third party.

The reason that credit scores vary between credit reporting agencies, is because they have their own algorithms on how to score credit reports, another reason for variations, is differences in reporting. One agency might have a delinquent account on it, while the others do not, or some locations pull from the same CRA, so you may have many more inquiries from one credit reporting agency, which would lower your score.

Myfico.com offers a credit score watch to keep track of your score and any major changes, that might affect your ability to get a loan, or factors that would change your interest rate.

You may have also heard of Suze Orman’s Fico Score Package to give you the tools to protect your identity, your important data, and your credit score.

The catch-22, establishing credit when no one will give you credit because you have no credit. It is easier than you think. First lets tackle establshing credit. Assuming you have a job, you should be able to get an auto loan. Auto loans are considered an installment loan, which is a powerful weapon in establishing credit. Making timely payments, will get your credit score up there, in no time.

If your parents trust you, (and they should, shouldn’t they?) they could add you on one of their credit card accounts, they don’t even need to give you the card, but you will both be listed on credit reports, I had one of these, and the date went back to when their card was open, which really helps your score, as length of time is a factor.

If neither one of those options are a possibility, then a secured credit card or prepaid credit card is a viable option. This is a card that you fund with your own money, and whatever you fund the card with, is your limit. Make sure to find one that reports to all 3 credit bureaus, they are accepted at millions of locations and hundreds of thousands of ATM’s worldwide.

Most online companies accept any card that has the Visa logo or Mastercard logo on the card, which means that prepaid cards, and debit cards (for the most part) will work anywhere Visa or Mastercard is accepted. To view some prepaid visa and mastercards visit the link.

The benefits of prepaid credit cards are as follows, but remember, not all cards offer the same benefits, make sure to read all the details. Usually no credit checks, some report to the credit bureaus, you can direct deposit your checks, into your account, plus the ability to shop online, and use your card in situations where you usually need one, like renting a car, or placing a deposit on an item.