Cash in on your points with the Chase Freedom Card

I just got another reminder from Chase that I have accrued 5000 points with my Chase Freedom Credit Card. I love getting these reminders because it means 50 bucks is going into my wallet therefore earning me Plastic Dollars. These plastic dollars spend the same as cash because I turn it into cash. I just get them to send me a check in the mail for this money. I can also apply it directly to my bill which is very convenient.

Credit Card Points Equals Real Cash

For people that are skeptical about using credit cards, this is real money that you are literally throwing away because you are using tradional forms of payment with no rewards. Credit cards offer lots of advantages and people need to become more educated on the proper use of them to earn extra cash.

Credit card points equate to money and I’m talking cold hard cash. Chase for one, gives you options on how much of a check you would like (granted you have the minimum of points to cash out) and also the option of applying the money you have earned in points directly to your bill. It’s a win-win situation all the way around. You just have to make sure to pay your credit card bill off each month to make sure you take full advantage of the points each month and not get eaten alive by interest charges. It’s that simple.

The vast majority of households in the United States have at least one credit card of some type. We are talking over 75% here. To some the reasons may be clear but to others they are lost on this subject. Hopefully Plastic Dollars will be able to help you understand why there are so many benefits and why it is so clear to the smart ones that use credit cards for rewards.

Types Of Credit Card Users

Simply put, credit cards give even the average individual numerous advantages over other methods of traditional payment. However, there is a danger of going crazing and spending outside your limit or monthly budget with a credit card. When this happens a person can run up huge interest charges. These types of cardholders get themselves into major trouble and usually cannot pay off their credit card balance.

Then we have the type of cardholders who use their credit cards very wisely. The wise ones pay off their credit card balance every month to take advantage of the points and extra cash that are offered through their credit card company. These are the cardholders that can reap major benefits. PlasticDollars.com recommends that you be the wise cardholder to make money with a credit card instead of it being a liability to you.

Credit Cards Are Convenient

Without a doubt, one of the biggest advantages of using a credit card is their convenience. If you have a major credit card on you, do not have to have cash. There is no more counting change to a cashier or write a check in a hurry. In fact, if you write a check these days, you will get funny looks from people that carry plastic in their wallets. Credit cards are just way more convenient than the outdated traditional forms of payment.

Using Credit Cards Can Help In Monthly Budgeting

A credit card can be used to help someone budget expenses each month. This is based entirely upon the premise that provided you pay your bill off in full each and every month. If a person does pay their bill off every month, they will have a master bill that shows an itemized list of what all of the money was spent on for the month. Some credit cards categorize your monthly purchases. They will send summaries of your spending that give you breakdowns of how much you spent on certain categories. Not all of credit card companies do this. Also to get these figures you may have to sign up for an online account (which I highly suggest). These reports can usually be imported or exported in any type of format you may choose. This works well if you are using a certain type of financial software to track all of your expenses.

Debit Cards Have Many Advantages Over Debit Cards

Credit cards even have benefits that debit cards do not. You know, debit cards, or as some call them “Fake Credit Cards”. Debit cards used to be the way I paid for everything. Not now. Debit cards are now my backup plan. They are the other form of plastic that I carry and I only use them when necessary.

Debit cards are very similar to credit cards but they do not include ALL of the benefits of a credit card. Most debit cards are linked to your checking account and this can be problematic because sometimes they may have twenty-four hour charging limits. These limits could prevent a person from buying something that they had in mind.

Debit cards can even perform like credit cards if items are purchased as credit instead of the normal way of using a debit card by entering a PIN number. Your bank usually covers the difference between the balance in your account and the amount of the purchase.

In this case, the bank acts as a creditor for the purchase and you can get bombarded with huge insufficient fund fees by the acting bank. There are alternatives though. One way around the normal debit card (that is connected to a checking account) is to purchase a prepaid debit card.  These cards are already loaded with the funds you need and can keep you spending too much. These cards are good for people that cannot control their spending habits.

You Should Use A Credit Card Responsibly

How you use a credit card is directly and indirectly related to your credit score. A credit report is pretty much a report card for people that borrow money. Your credit history is always available for companies and /or banks, which are in the lending industry to review.

Your credit score shows just how worthy you are seen or considered by people in the lending biz. Credit reports will show whether you pay your bills and if you actually pay them on time. If a person abuses a credit card it will in turn produce bad credit score.  A bad or low credit score can prevent you from being able to obtain a loan because lenders will see you as a bad bet for their money and they do not want to get burned. A low credit score can also prevent you from being able to obtain future loans. And here is the kicker, having a low credit score can also cost you more money in the long run because banks and other lenders will charge a higher interest rate because you are a higher risk for a loan.

Use The Strength Of The Credit Card Companies To Protect Yourself

Credit card companies are huge corporations with a lot of power. You may think that you are just using a piece of plastic but in reality you have a power company and industry behind your purchases. Making a nice sized purchase with a credit card gives you a better purchase protection that you will not get if you pay with cold hard cash or some the fake credit cards (ATM cards).

Most credit cards can even extend your product warranty. If a retailer does not deliver the items you purchased, the credit card company can step in for you to assist in the matter. One little fact that people overlook and you should never for get this fact. The money you use to purchase an item with a credit card comes directly from the issuer. So it’s in their best interest to have your back.

Lastly, when you make a purchase with a credit card, you automatically are given a certain amount of theft protection. It can happen to anyone so make sure to alert your credit card company if your credit card is lost or stolen. Credit card companies labor earnestly to resolve theft issues on your behalf. Remember, you are a cash cow for them. You charge with a credit card and they get a certain percentage from the retailers. If your card is stolen, you will usually only be responsible for paying back a small amont like the first $50 of what was spent by the theft.  This can save a person a huge amount if a credit card thief charges a lot on your card.

It’s even possible that you will not have to pay any back. It depends on your credit card issuer. It’s very important that you if you report a stolen card and any charges made on it immediately.  The majority of credit card companies offer a policy with a zero liability. This means that you may not have to pay a dime for any unauthorized purchases made with your stolen credit card.

Register Online To Monitor Your Credit Card Usage

I highly suggest that everyone using a credit card register online so you will be able to detect any fraudulent activity on your credit cards. You don’t have to wait until your statement shows up to notice this type of activity. This is just one of the many benefits of having an online account.

There are lots of reasons to use a credit card instead of other traditional forms of payment. You just have to take advantage of the benefits. Just remember to use a credit card to your benefit and don’t let a credit card be used as a liability. Always pay the balance off in full each month and you will make real money with credit cards.

Beware of signing up for Department Store Credit Cards

Something you should know about credit cards: Have you been bombarded lately by stores offering you 10% off a first time purchase just for opening up a credit card with their store? This happens a lot and the stores have great success in getting credit card customers this way.

Opening a line of credit should not be an impulse decision and should not be done while checking out at a department store. In fact, their card may have some funky terms and conditions.

Make Sure the Credit Card You Sign Up For Has The Best Bonuses And Rewards

For starters, you may not be getting the best sign-up bonus that is available. As stated before, you might be signing up for an in-store credit card being offered 10 percent off your purchases that day but is that really the best credit card deal on the market?

People have been offered in-store credit with 10 percent off their purchases (some may be under $100). This is not such a hot deal by today’s credit card standards. If you researched other competing offers available at the time, you will probably find many great sign-up bonuses being offered by other cards. You can’t just apply for every credit card in the universe and you should only pick the ones that give you the best rewards and sign up bonuses.

Choosing A Credit Card Is A Long Term Financial Decision

Why would you want store credit cards anyway? It would be virtually impossible to have a credit card for every store that you visit and please don’t tell me that is the case for you (unless you only shop at three stores). When you choose a credit card, you are not just making a decision to carry a piece of plastic but you are making a huge financial decision. Your selection of a credit card should be the one with the lowest interest rates and the smallest fees ($0 fees being the best) as well as the best rewards. Having a department store credit card may make you think you are part of some kind of special club and you are right. That could mean that you are a member of the SUCKER club that fell for bad rates and limits on purchases. I hate to put it so bluntly but that is just the simple truth. Just to let you know, I have been one of the suckers in the past as well. So I speak from experience.

The Pitfalls Of A Store Credit Card

Using store credit cards could actually limit you from comparison-shopping. Department store credit cards are often times nudging customers to come back to their store by offering certain rewards. This sometimes blinds customers and therefore they may be unaware of better prices at competing stores. This is a great trick by a lot of retailers used when getting you to use their credit cards.

In-store credit cards usually do not have the best terms and conditions. Most people intend to pay their balances off in full every month, but many do not. When I say many, I mean many because the vast majority will carry a balance forward to the next month. Department store credit cards are not well known for their low fees or great rates and they often change their terms and conditions leaving you out in the cold. Now does that 10% off sound so great? That’s just a few of the many reasons why a person should shop around for the best credit card for them. It pays dividends in the long run.

Are There Times To Sign Up For Store Credit Cards?

There are plenty of reasons to not sign up for store credit cards, however there may be some circumstances in which they make sense. These are few and far between. If you find yourself in a situation where you see that it is more beneficial to use a department store style of credit card, then by all means do it but make sure you have done your homework. Make sure you are getting something of great value where it save you money in some case.

All in all, the theory of Plastic Dollars is pretty much the same as the well known radio show host Clark Howard. There is a lot more downside to using a store credit card in the long run and signing up for one should only be done sparingly. It is the opinion of this website to always pay off your credit card bills in full each month and literally reap the rewards of the credit card companies. So beware of signing up for these department store credit cards.

Fire up the computer and use Chase Online Bill Pay

With Chase’s Online Bill Pay, you can sit back and relax with the knowledge that your payments will be sent on time. Chase guarantees it. All you have to do is schedule a one time payment or even a repeating payment and Chase will send off the electronic payment before it is due.This is  the perfect instrument for remaining on top of paying your bills.

advantages to using Chase Online Bill Pay

It’s Really Fast:

Electronic payments can make it to people in 2 days or less.

Overnight checks are  also available. However, a fee applies in this case.

It’s Incredibly Easy:

With Chase no checks or stamps necessary or required

Chase will  send the checks

It’s Guaranteed:

With Chase’s On Time Guarantee your bills are promised to be sent on time

And Lastly It’s Convenient:

No envelopes required, Leave out the hassle of stamps as well.  You can easily pay bills in minutes. By the way, stamps keep going up. Cyber space payments are free! This is a bigger savings than you think. If you are still mailing in your payments to people you owe money to, there are plenty of horse to buy instead of driving a car.

I love using the Chase Online Bill Pay. It’s great that they send me a reminder for when my credit card bill is due. That gives me peace of mind in case I forget somehow. Remember to pay off those credit card bills every month (in full) and use the cards to make money and not be a liability to your bottom line. It’s the Plastic Dollars way.

Thieves are everywhere trying to get credit card information

MEMPHIS, Tenn. – Authorities in the great state of Tennessee state that a 15-year-old boy impersonated a police officer to sneak people’s credit card numbers. The boy then racked up hundreds of dollars in credit card charges for pizza and even a house party.

The Commercial Appeal in Memphis is reporting that the 9th grader was charged with 3 felonies. This includes but is not limited to unauthorized use of a credit card. The young man was nailed on Thursday.

The Shelby County Sheriff’s Office states the boy produced a false officer by name of Captain Tyrone Banks. He then used a smartphone application to obtain information on his likely victims. Then the boy inquired to affirm their credit card digits by running a police scanner in the background during the telephone conversations to establish himself as being credible.

Sheriff’s officials state the boy loaded $500 worth of pizza, approximately $800 for a house party,  and another $874 to help a friend pay for a utility bill.

As creative as the young man was in this case, he obviously knows right from wrong. There are too many instances these days where someone uses creative means to obtain someone’s identity or therir credit card information. there needs to be tougher laws regarding these issues. Hopefully, this young buck will learn his lesson from this little prank.

This website is all about trying to help people understand how to use credit cards to make additional cash. Making money with credit cards is legitimate but getting some p[people to understand it sometimes can be quite a chore. There are just some people that are closed minded and that cannot be educated on the benefits of using credit cards.

Send Plasticdollars.com your favorite credit card story

Send Plastic Dollars your favorite story about being creative with your credit cards to make extra money and we will post the story for you on this website. That’s all you have to do is go to our contact page and copy and paste your story into contact form and your story (if it’s a legitimate and legal way to make money) will be posted on this website. Just think of it as a way to help others learn what you have learned. Remember, not everyone is aware that money can be made from using cards so please take the time to help educate others.

Avoid credit cards if you cannot control your spending habits

I have a friend that I was talking to me the other day and the subject of credit cards came up. This person told me point blank that it was best that they did not have a credit card. My friend told me that they knew about the benefits of credit cards but they were unable to pay off a credit card and that it was best for them to avoid them like the plague.

I can understand my friend’s position on credit cards. The whole reason for this website is to try and educate people on the advantages of using a credit card to make additional money. However, I have to accept that credit cards are not for everyone.

Some People Cannot Control Their Credit Card Bills

Some people just cannot control their spending habits and will let a credit card balance get out control and handicap them even more financially. That has never been a problem that I had to struggle with but I realize that there are some people that struggle with paying off credit cards.

Another thing my friend told me is that they do not associate a charge on a credit card as real money. Somehow they disassociate themselves from the fact that the charge they just made will have consequences of being paid at a later date. For this reason my friend and many others like to deal with cash and cash only. If it works for them, I cannot argue with that at all. However, they are missing out on free money. The money made buy using a credit card adds up quick and spends the same as cash. In fact you can turn it into cash merely by cashing the check or by applying it to your monthly credit card balance.

If you Cannot Use Credit Cards Responsibly Then Use Cash

Regardless if using credit cards to make extra money is a great way to put extra money in your pocket, if you cannot control your spending habits and have a habit of building up large credit card bills, I would suggest to you to stay away from using credit cards. Do not use them at all. If credit cards are something that will be a hindrance to you later on down the road, avoid them completely and use cash for everything you pay for in the future.

My First Check From Chase For $50

I started using my credit card and the points really started to add up fast. I accumulated enough for a $50 check from Chase. I could have just placed the 50 bucks towards my Chase credit card balance but I wanted a real check to have and hold in my hands. That way it would seem more real to me. When my first rewards check came from Chase, I took it to my local bank and deposited it into my savings account. That was an awesome feeling knowing that I just got $50 for doing nothing extra. Think about it. I had been using my debit card or cash for everything I purchased. I really did nothing to earn this extra money. All I have to do was pay the balance off in full each month and BAM! I have extra money.

It blows my mind to think that I have not been using my credit card to earn extra cash. I would have thousands of extra dollars in my bank account if I have done this years ago. Oh well, live and learn.

Still Skeptical About Using Credit Cards?

Just this past week I deposited another credit card rewards check into one of my bank accounts. I know many people are skeptical on this subject of making money with credit cards. All I can tell you is that it’s real. The only catch is that you have to pay the balance off each month. If you can’t do that, you don’t need a credit card. In fact, I will tell you not to get a credit card but if you are the type that is frugal and can watch what you spend, try it and you will see what I’m talking about. Just remember, you have to pay it off IN FULL each month.

Getting Your Free Credit Report Is Now Easier Than Ever

Most people know that these days you are eligible for a free credit report once a year. this is possible by visiting the annualcreditreport.com website. However, some people do not know that you can get a free copy of your credit report if you’ve been turned down for credit for some obscure reason.

The U.S. has a new amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act. This amendment states that consumers who get turned down for credit are now entitled to a free copy of their credit score.

The new rule puts into law that consumers must receive their actual score used in determining their credit if they were denied credit or granted credit at less than favorable terms compared to other consumers. If more than one credit score was utilized, any one of the scores can be furnished. The score must also be followed by data such as to why or what influenced the credit score.

This amendment will be enforced by the new Consumer Financial Protection Bureau and banks must now comply with the new regulations or face penalties.

Just so you know, annualcreditreport.com is the only true website that gives you a credit report for free. Do not be fooled by the cute commercials on T.V. because they are fooling lots of people every year.