Cash Back vs. Rewards Credit Cards

Written by Joseph Kenny

Ah,repparttar sweet rewards of using credit!

Not only do you get immediate gratification withrepparttar 150067 buy now-pay later plastic, but now, many credit cards offer rewards and incentives for using their card to make purchases. You can get cash back, or gift cards, or ‘reward points’ that you can spend on merchandise or services from various merchants. There are also cards that allow you to designate your ‘cash back’ points to a charity – sometimes called affinity cards – and those that put your cash back into a special savings account for college.

Great deal, right? You spend your money and get something in return. The catch is, of course, that you’re paying interest and card fees to get your cash back rewards. But if you’re going to be usingrepparttar 150068 credit card anyway, you might as well get something back out of it, right?

Most cash-back cards give you 1-2% cash back on most of your purchases. You’ll get a check at specified periods forrepparttar 150069 amount of your ‘rewards cash’. You can cashrepparttar 150070 check and spendrepparttar 150071 money on anything you want.

Reward cards give you 1-5 reward points for every dollar that you spend at different merchants and types of merchants. Most pay you 5 reward points for purchases made at their ‘Merchant Thank You’ network, and for purchases made at gas stations, drug stores and supermarkets. You’ll get 1 reward point for every dollar that you spend at other merchants. You can then redeem your reward points for particular items fromrepparttar 150072 merchants that belong torepparttar 150073 credit card’s merchant network.

Which isrepparttar 150074 better choice?

Home Equity Loan – When Does Refinancing Make Sense?

Written by Charles Essmeier

Forrepparttar last two years, interest rates have been much lower than anytime duringrepparttar 150066 last thirty years. This has resulted in an unprecedented boom in real estate sales, home refinancing and home equity lending, as borrowers try to take advantage of these rates forrepparttar 150067 long term. But refinancing or even borrowing against your home’s equity may not make sense for everyone. When is it a good idea to refinance your home? When is it not advisable?

Traditionally, lenders advised homeowners not to refinance unless doing so would lowerrepparttar 150068 interest rate onrepparttar 150069 loan by 1-2%. While anyone who can save 2% on their interest rate would almost certainly benefit from doing so, others might find refinancing worthwhile even with a smaller reduction inrepparttar 150070 interest rate. Increased competition among lenders has broughtrepparttar 150071 costs of refinancing down in recent years, so homeowners can realize a significant reduction in their home payments with reductions of ½% or so, depending onrepparttar 150072 size of their mortgage.

The key to whether or not refinancing makes sense is how longrepparttar 150073 homeowner intends to remain in his or her home. The costs ofrepparttar 150074 refinancing, which can run $1000-2000, are amortized overrepparttar 150075 life ofrepparttar 150076 loan. For many people, a reduction of $50 or more inrepparttar 150077 house payment would be more than enough to justify a new mortgage. If payments cannot be reduced by at least that much, or ifrepparttar 150078 homeowner plans to live inrepparttar 150079 home only a short while, refinancing may not be a good option.

Refinancing may also make sense for those with Adjustable Rate Mortgages

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