If you have a low credit score and are unable to obtain a car loan, it is important to investigate the alternative possibilities available to you and the next feasible step for you to take. There are things that you can do to boost your chances of being approved for the next vehicle loan that you apply for. We're going to tell you how.

General Overview

Traditional auto lenders, such as banks, credit unions, or the captive lenders of car manufacturers, usually have high credit score requirements. If your credit score is lower than about 660, it can be hard to find a lender who will give you a chance at an auto loan. This means that you might not be able to buy a car even if you have enough money to pay for it.

But wait! You can still get a car loan, and there are things you can do to improve your chances of getting one:

• Improve your credit score
• Get a cosigner
• Look into car loans for people with bad credit.

We're going over each step in detail to help you decide what the best next step is for you. Car loans are a very precise science, but these things can help you get one.

Improve your credit score

Fortunately, there are several simple steps you may do to raise your credit score. Credit is built over time, so if you can wait a little before applying, here are some things you can do to help yourself out:

Reduce your outstanding balances on credit cards. Pay as much as you can toward your credit card balances if you are at or near your limit. Reduce your ratio of credit use, or credit utilization. It is bad for your credit score if you use more than 30 percent of your available credit on your various credit cards. Credit scores appreciate those who are successful in maintaining low balances on their credit cards.

Don't be late with any payments. Your credit score is most heavily weighted by your payment history, and a single late or missed payment can remain on your credit reports for up to seven years. Lenders will look at your payment history when deciding whether or not to give you an auto loan. If you have a history of paying bills and other accounts on schedule, this will help your credit score.

Take a look at your credit records. It is possible for credit scores to be lowered due to inaccuracies that appear on credit reports. Expired accounts, accounts that aren't actually yours because of identity theft or an error, and erroneously reported payments are common causes of confusion. Each of the three major credit reporting agencies (TransUnion, Experian, and Equifax) maintains its own credit report, which may or may not contain the same data. Carefully examine each and object to anything that doesn't seem right.

Learning the contents of your credit reports is an important first step towards fixing your credit. You are entitled to a free copy of your credit report from each bureau once every four weeks until April 2021, and you can request them at www.annualcreditreport.com.

A lack of credit history can result in a poor score because there isn't much to look at when evaluating your creditworthiness. Nonetheless, the following procedures are viable options for borrowers with poor credit or no credit at all.

Get a cosigner

Borrowers with low credit scores may be able to boost their chances of getting an auto loan with a cosigner. A cosigner's willingness to help depends on their own creditworthiness. A cosigner "lends" you their good credit and the pledge to pay off the automobile loan if you default; therefore, they must be able to afford the monthly payments on the loan on their own.

For most loans, borrowers will approach a parent or guardian to cosign on their behalf. To be eligible as a cosigner, however, one must not be the primary borrower's spouse. Instead, you and your husband could become co-borrowers, with your spouse contributing to the loan by contributing income. However, this won't necessarily increase your chances of approval if you have credit concerns.

A cosigner is someone who agrees to be responsible for your auto loan in addition to you, but whose name is never added on the title of the vehicle. Even though they have no legal claim to the vehicle, they are nonetheless affected by your payment history on the loan. Maintaining timely payments on the car loan can help both of your credit scores.

Look for loans for bad credit

Unfortunately, not everyone can afford to wait for their credit score to improve or find a cosigner for a car loan. Nonetheless, there are vehicle loan providers — subprime lenders — that will work with borrowers despite a low credit score.

Subprime lenders cater particularly to those with poor credit histories. Loan approval is based on a number of factors beyond only credit, including your salary, stability at work and at home, the amount you can put down, and so on.

A special finance car lot is the place to hunt for a subprime lender. Since subprime lenders are unrelated to the borrower, the borrower never has to interact directly with the lender but rather with a specialized finance manager.

You give your completed documentation to the finance manager, who checks it over and then sends it out to the subprime lenders. If you are accepted, the dealer will tell you how much you are eligible to borrow, and then you may work with them to choose a car that suits your needs and your budget.

Also, because they are recorded to the major credit agencies, subprime auto loans might help you improve your credit score. You can finish paying off your auto loan and improve your credit score if you make your payments on time and address any other issues dragging down your score.

Your portfolio can fund your expenses indefinitely if you live off dividends. As long as dividends are coming in, you won't have to work or worry about your portfolio's worth.

Your dividend stocks and funds deposit recurring dividend payments into your brokerage account throughout the year.

These cash payments can be used for housing, food, healthcare, travel, and other living needs. Without selling any stock.

Dividend investment separates your money from your time, a vital prerequisite for retirement. Can dividends support you?

We've seen firsthand how thousands of investors have implemented this income approach to become financially free.

Let's look about dividend retirement.

How to live off these Dividends

The Wall Street Journal gave a concrete illustration of how dividends might contribute to a financially secure retirement.

The article assumed you will retire with $1 million and require $40,000 year, adjusted for inflation. It was also assumed that long-term inflation runs at 2%, that Treasury yields equal inflation, and that stock dividends grow at a pace of 3.5% annually.

It then specifies that you invest $400,000 in Treasury bonds and $600,000 in equities yielding 3%, resulting in annual dividend income of $18,000.

After spending every dividend dollar, you sell a portion of your bond portfolio to reach your inflation-adjusted yearly income goal of $40,000. Approximately 21 years from now, your bond portfolio would be completely exhausted.

Nevertheless, even after adjusting for inflation, your annual dividend income may have increased by a third to $24,000 over that time period. Moreover, you would continue to own all of your stocks.

If your dividend income grew by around 33% after correcting for inflation, it is reasonable to assume that the value of your assets increased by a similar amount, maybe reaching close to $800,000 over time, due to their increasing cash flow.

Assuming you retired no earlier than age 60, you would be in your 80s with a substantial amount of assets remaining for the remainder of your retirement.

While your initial mix of stocks and bonds will vary based on a number of personal characteristics, it is quite possible to construct a portfolio of high-quality dividend companies that collectively yield at least 3% and grow their dividends by at least 3.5% annually.

However, the number of dividend-paying stocks required to make ends meet depends on a number of variables.

What Is the Minimum Amount of Money You Need to Retire on Dividends?

To establish a reasonable range for how much you need to invest to live off dividends, multiply the annual dividend income you wish to generate by 22 and 28.

Multiplying these figures results in a portfolio dividend yield (annual dividend income divided by portfolio market value) of 3.5% to 4.5%.

Within that dividend yield range, we believe you can build a conservative dividend portfolio without sacrificing business quality, income security, or sector diversification. Over time, we expect this portfolio to deliver mid-single-digit annual dividend growth.

Using an example from the United States Bureau of Labor Statistics, total annual expenditures in 2014 averaged $49,279 among older households. After adjusting for inflation, this equates to approximately $62,000 in 2022.

If dividends were the only source of income for this family, they would need a portfolio worth between $1.4 million ($62,000 x 22) and $1.8 million ($62,000 x 28), assuming a starting dividend yield of 3.5% to 4.5%.

However, it is likely that this couple has other sources of income, which reduces the amount of dividends required in retirement.

The Social Security Administration, for example, estimates that two-thirds of retirees will receive the majority of their income from Social Security payments. As of 2022, retired workers and their spouses received an average monthly benefit of approximately $2,500 ($30,000 per year).

While some of this Social Security income would almost certainly be taxed, these benefits could potentially cut in half the size of the portfolio needed to help this household live off dividends.

Pension income, annuities, and other sources of income can help to reduce the amount of supplemental dividends required in retirement.

How to Get Started with an Investment Portfolio for Your Retirement

The sum of money that you have set aside for a dividend investing approach has the potential to be spread out among a variety of different equities and funds.

Mutual funds and ETFs that pay dividends are simple to use, have modest maintenance fees, and offer quick diversification. The majority of the time, investments in funds can be made and then forgotten about.

Nevertheless, investors in funds forfeit a significant advantage, namely control.

The majority of funds have holdings consisting of dozens, hundreds, or even thousands of different equities. For instance, Vanguard's High Dividend Yield ETF (VYM) has ownership in nearly 400 different firms.

Some of these companies are solid and have dividends that are certain to be paid out, while others are of poorer quality and are more likely to reduce or eliminate their payouts in the event of an economic slowdown. There are some with very high yields, while others produce very little in the way of income at all.

To put it more simply, a fund is a collection of different companies that may or may not meet the income requirements and risk tolerance that you have set for yourself, especially when the tide goes out.

During the global financial crisis that lasted from 2007 to 2009, Vanguard's High Dividend Yield ETF ran into difficulties since it did not prioritize dividend safety. During this time period, the dividend income from the ETF had a decrease of 25%, and it took four years for it to recover to its previous level.

Because the dividends on most funds are variable, meaning they change in an unpredictable manner from period to period, it can be difficult to estimate how much money you will bring in on any given month.

Although these are not always reasons to avoid funds, selecting your own dividend stocks can make it simpler to adjust the amount of risk in your portfolio and provide you more insight into your income stream. This is one advantage of doing so rather than investing in mutual funds.

The vast majority of businesses hand out dividend payments on a quarterly or monthly basis in predetermined quantities. You won't be in the dark about how much money you're making from each stock or when it will be paid out.

When compared to investing in most funds, selecting your own holdings with a focus on dividend safety has the potential to offer an income that is both greater and grows at a faster rate. In addition, you will have a better understanding of all of the investments that you now possess, which will make it easier for you to withstand the next market downturn.

The following are some of the general parameters that we like to follow when constructing a portfolio:

• Holding between 20 and 60 equities can help lessen the risk associated with individual companies.
• Because it is difficult to predict which companies will have the best long-term performance, you should give roughly equal weight to each position.
• You should not invest more than 25 percent of your portfolio in any one industry.
• Focus on businesses that have either a Safe or Very Safe Dividend Safety Scores.

You are free to modify those recommendations to fit your risk tolerance and the objectives you wish to achieve. For instance, let's say you don't mind taking on somewhat more danger and are ready to increase the number of equities you own that have Borderline Safe Dividend Safety ScoresTM. Or perhaps you are looking for a portfolio that has an average yield that is close to 4%.

Having said that, it is important to be aware of a number of potential dangers if you plan to fund your retirement on dividend income.

Common Mistakes to Avoid

Dividend strategies can create the temptation to invest primarily in high-yielding stocks, which provide higher income today but are concentrated in a few industries such as utilities, energy and master limited partnerships (MLPs).

A portfolio that bets heavily on these areas of the market without proper diversification may be more sensitive to rising interest rates, be hit harder by any industry-specific adverse developments, and generate total returns that deviate significantly from the broader market.

And, outside of dividend-paying industries such as REITs and MLPs, high yields can indicate that something is structurally wrong with a company or that the dividend needs to be cut to help the company survive. These circumstances can lead to a permanent loss of capital.

Aside from chasing yield, dividend investors can also fall victim to hindsight bias.

The desire to own consistent dividend growers has led to the popularity of groups of stocks such as the S&P 500 Dividend Aristocrats among investors. Dividend aristocrats are S&P 500 stocks that have increased their dividend for at least 25 years in a row.

Dividend investors are interested in these stocks because they have outperformed the market. We like to believe that they will always pay and grow their dividends, but this is not guaranteed.

During the financial crisis, 16 of the 60 dividend aristocrats that existed in 2007 cut or suspended their dividends. While bank stocks accounted for the majority of those losses, it's never easy to predict which industry will be hit next.

The pandemic was the most recent reminder that dividend income is not without risk. With the United States' economy contracting at its fastest rate in history, 25% of companies covered by our Dividend Safety ScoresTM (333 out of 1,313) cut dividends in 2020.

This does not invalidate dividend investing, but rather emphasizes the importance of owning companies with solid balance sheets and proven operations. These are the companies that are more likely to maintain their payouts in good and bad times.

The bottom line is that dividends are fraught with danger. Investors pursuing this strategy in retirement should monitor their portfolios' dividend safety, make adjustments as needed, and diversify their holdings.

Finally, dividend investors can fall into the trap of focusing on income return rather than total return (income and price return).

Just because a stable company pays a dividend doesn't make it a better investment or more resistant to stock market price drops. In theory, it shouldn't matter whether your retirement cash flow comes from dividend income, bonds, or the sale of your portfolio's holdings.

However, from a behavioral standpoint, leaving principal alone and living off the dividends generated each month can help investors tune out the noise caused by fluctuating stock prices.

Furthermore, if the stock market experiences a significant correction during the early years of retirement, dividend investors are less vulnerable to sequence of returns risk because they do not need to sell more shares in response to lower stock prices.

Conclusion

Retirement asset management can be overwhelming. Your financial condition, long-term goals, risk tolerance, and quality of life expectations affect many significant decisions.

Always evaluate the fees, flexibility, and fine print of investment methods. You're aiming to reach a steady cash flow goal and aren't wed to accomplishing it through bond interest, annuity payments, asset sales, or dividend income.

Quality dividend stocks can boost a retirement portfolio's income and return. A well built basket of dividend companies can help investors stay the course and make a retirement portfolio last a lifetime.

As a student, it might be difficult to figure out the best ways to pay for college. The FAFSA and grants and scholarships may have already been depleted, therefore you may be looking at student loans to bridge the gap in your financial aid.

Federal student loans and private student loans are the two most common loan types available to borrowers. If you're an undergraduate, your first priority should be to use up all of your federal student loans. The interest rates on these federally guaranteed loans are lower than those of a private lender. You don't need a co-signer to acquire one, and they come with protections against default that private loans do not.

Here is a comparison of federal and private student loans.

What are the cons of private student loans?

There are numerous downsides of private student loans over government loans:

It's more difficult to get approved for private student loans

Most private student loans are dependent on a borrower's credit history. This means that if you don't have a good credit history and a steady income, you won't be able to get a loan. No co-signer is required for federal student loans for undergraduates. However, if the borrower's credit history reflects a negative event like as bankruptcy, foreclosure or loan charge-off in the past, PLUS loans for parents and graduate students may require a co-signer.

Private student loan interest rates are greater than federal student loan interest rates

After July 1, the fixed interest rate on federal student loans is 4.99 percent (though all federal student loans are in a temporary, interest-free forbearance through Sept. 30 as part of coronavirus relief). Private student loan rates will be much higher for the majority of borrowers. Additionally, federally subsidized student loans are available to students in need. Student loans with interest-free grace periods and deferral do not accumulate interest while the borrower is enrolled in school. Until the debt is paid in full, interest on private student loans will continue to accrue.

Private loans have stricter payment policies

A wide variety of deferral and forbearance options, as well as many payment plans, are available for federal student loans. For example, federal borrowers can petition for a three-year economic hardship deferment; a standard 12-month maximum for private student loans. Income-driven repayment options for federal student loans can result in payments as low as $0, although short-term payment arrangements are commonly offered by private lenders for loans.

Most student loan forgiveness programs exclude private student loans from their coverage

Loans from the Federal Government Borrowers must make a certain number of payments before their loan debt is forgiven under forgiveness and income-driven repayment plans. Private student loans, on the other hand, do not include these possibilities. Going forward, it is unlikely that any government forgiveness schemes will deal with privately owned debt.

The repercussions of defaulting on private student loans are more severe

After 270 days of nonpayment, federal student loans are declared in default. There are still choices available to federal borrowers after that time. When a payment is missed on a private student loan, the loan goes into default 30 days later, and lenders can charge off the amount in as short as 120 days, leaving borrowers with few options to get out of default.

What are the cons of federal student loans?

There are a few drawbacks to federal student loans when compared to private student loans:

Loan origination costs apply to federal student loans

The origination charge for federal direct student loans is 1.057 percent, while the fee for PLUS loans is 4.228 percent. Fees for private student loans, on the other hand, are rare.

Borrowing limitations on federal student loans apply to undergraduates

Federal student loans for undergraduates have a maximum yearly borrowing limit of $12,500 and a maximum lifetime borrowing limit of $57,500. Graduate students can take out loans of up to $138,500 in total, or $20,500 per year. There are no aggregate restrictions on PLUS loans and many private loans, which are only limited by a school's tuition costs.

Federal student loans may not be the best deal for PLUS borrowers

PLUS loans for parents and graduate students have a stiff origination fee of 4.228% and interest rates of 7.54%. Borrowers with stable finances and a good credit history might find a better rate, with no fees, among private lenders.

Federal debt collectors have many more options

Private student lenders rely on the court system to sue and collect a judgment, and they are limited to your state's statute of limitations in their ability to do so. Federal debt collectors can bypass the courts to directly seize tax refunds or garnish wages — and can do so indefinitely.

The Bank of America Travel Rewards credit card is an excellent option for travelers who like to scour the internet for the best deals without sacrificing the ability to use rewards for purchases. It's an extremely versatile card, but it does have some limitations when compared to cards with potentially higher reward values.

Why getting this card is beneficial for your finances

The Bank of America travel card is a terrific option if you're a cardholder who is always seeking for a good sign-up bonus on a card with no annual fee. A set rate of rewards is given to all purchases, allowing you to buy whenever and wherever you choose and still earn a reasonable amount.

If you have a Merrill Lynch or Bank of America account, you can earn a higher points rate with Preferred Rewards, which is a unique feature of this card.

Excellent signup bonus

For those who spend $1,000 in the first 90 days, the Bank of America Travel Rewards credit card offers a respectable 25,000 online points sign-up bonus. These points can be worth up to $250 if you use them to pay for a trip.

Bank of America Preferred Rewards program

It's possible that you might increase your earnings on the Bank of America Travel Rewards credit card if you already have an account with Bank of America or Merrill Lynch. The more money you have, the more likely this is.

Depending on how much money you have in your Bank of America or Merrill Lynch account at any given time, the interest rate you receive from Bank of America rises incrementally. Platinum Honors, the highest tier of Bank of America's Preferred Rewards program, offers a 75 percent point boost with an improved earning rate of 2.6 percent (up from the regular 1.5 percent per dollar spent).

One rewards rate for all purchases

All transactions with the Bank of America Travel Rewards credit card earn at the same rate, so tracking bonus categories or concentrating your spending in one area isn't necessary. Every dollar spent by cardholders earns them 1.5 points. It's worth three points per dollar if you make your purchase at the Bank of America Travel Center, where you'll get an extra 1.5 points.

Intro APR for new purchases

A 0% introductory APR for the first 15 billing cycles of the Bank of America Travel Rewards credit card is another perk for new customers (15.49 percent to 25.49 percent variable thereafter).

If you're planning on making a large purchase and don't want to rack up interest, this is a nice bonus. You won't have to worry about further charges for a little more than a year if you make slow payments. To avoid a high recurring annual percentage rate (APR), don't charge more than you can afford to pay back in the introductory term.

Flexible point redemptions

It doesn't matter if you book your trip through Bank of America Travel Rewards or another site — unlike other travel credit cards that give you bonus points for certain purchases. The versatility of the card, though, means that you don't have to think so hard about how to utilize those points.

To redeem points, you must have used your card for a trip transaction within the last year. This means you can use your rewards to pay for a cheaper flight on a third-party travel site. You can also exchange your points for gift cards, cash, or a statement credit that can be used to pay for dining out.

In some cases, you may need to redeem your points before they expire and the value of these options varies greatly.

Additional benefits

Despite its lack of broad incentives, the Bank of America Travel Rewards credit card has a few advantages that make it worthwhile for regular flyers.

• You won't be charged a fee while making purchases in another country if you use your credit card at a participating location.
• Your Bank of America Travel Rewards credit card offers additional coverage in the event that your rental automobile is damaged or stolen.
• In order to use the Bank of America Travel Rewards credit card while traveling outside the United States, you can add a PIN.
• It's hardly the most stunning travel feature on a rewards card, but frequent fliers can still save money by taking advantage of all of these benefits.

Why this card may not be a good fit for you

Consider a more complex card strategy that takes advantage of higher earning cards if you are familiar with rewards programs, know which categories you spend your money on, and can plan accordingly to use different cards for every purchase. There are better offers out there, but 1.5 points per dollar isn't one of them.

However, the Bank of America Travel Rewards card has a few flaws that cause it to be relegated to the bottom of the top travel rewards cards list.

No travel redemption bonus

Competition for a travel rewards credit card comes in the form of the ability to redeem points through an issuer's travel portal. Points redeemed through the Bank of America Travel Center will not receive an increase in value like some other issuers' credit cards. As a result, the Bank of America credit card is now at the bottom of the list.

Travel center purchases get double points, however redeeming those points for travel does not raise the value of those points. In other words, you'll be spending more money to get more value out of your rewards, yet with another card you could be spending less money to get more value out of your rewards.

When redeemed through the Chase Ultimate Portal, points earned with the Chase Sapphire Preferred Card have a value of 25 percent higher, valuing them at 1.25 cents apiece.

While Bank of America Travel Rewards credit card points have a maximum value of one cent each, the value of competing travel credit cards generally exceeds this. Keep in mind the point value when comparing to another card because, like Chase, other issuers have enhanced the worth of the points.

Here's a short look at some of our most popular travel credit cards and how much value you receive for your money when you use them (factoring in average earning rate and point value).

Low rewards rate

In spite of the fact that you'll get 1.5 points for every dollar spent, which is convenient and can be increased with a Bank of America or Merrill account, for the ordinary cardholder searching for a good travel rewards card, it's a little low. It's hard to beat other cards' 3 points per dollar spent on travel when you consider how little you'll get back upon redeeming your rewards.

Use a general purpose credit card that earns at a higher rate and link it with a travel credit card from the same issuer if you want to move into travel rewards and soar higher. You may be able to redeem your points through that issuer's reward portal if you have a lot of them.

For example, the Citi® Double Cash Card (1 percent when you buy, 1 percent when you pay) and the Citi Premier® Card could be a better match. Depending on how much you spend, the annual cost for the Premier Card may be offset by the fact that you will earn more points than you would with the Bank of America Travel Rewards credit card.

How to use this card to your benefit

• To qualify for the sign-up bonus, you must spend at least $1,000 in the first 90 days of your account.
• Take advantage of a significant flat rewards rate by charging all of your purchases to the card.
• Earn two times as many points when you book your trip via the Bank of America Travel center.
• Sign up for Preferred Rewards if you're qualified to increase your earnings.

Bottom Line

Bank of America Travel Rewards credit card gives an excellent rate of points for a card with no annual fee if you choose to put all of your purchases on one card and not keep track of bonus categories. Bank of America account customers with a large balance can increase their rewards rate and speed up their path to a vacation.

When it comes to maximizing your rewards, you may want to take a more strategic approach if you're curious about the world of rewards earning and want to get the most out of every dollar you spend. As a result, the Bank of America Travel Rewards credit card is a great choice for those who are new to rewards credit cards or who are unsure about their capacity to pay the annual fees associated with other, more advantageous credit cards.

In a nutshell, the Venture X Rewards Credit Card from Capital One is an industry game changer.

This is Capital One's first luxury travel credit card, and it stands out not only for its impressive list of travel benefits – including two annual benefits that easily justify the card's cost – but also for its generous rewards program, which gives you bonus miles on all eligible purchases, not just travel expenses.

The Venture X is one of the greatest credit cards on the market, and it may be the best travel credit card as well, thanks to its generous sign-up bonus and lower annual cost than most of its premium competition.

However, the Venture X card may not be the greatest choice for those who only travel on a regular basis because of its travel-centric benefits, annual incentives, and most valued redemptions. It's also worth noting that, regardless of how much more value the Venture X can deliver over other, lower-cost cards, you may not be able to stomach the $395 annual price.

Why the Capital One Venture X card may be for you

Travelers who don't mind paying an annual fee in exchange for valuable benefits like travel credits and access to airport lounges might look into the Venture X card as an option.

The Venture X comes with a flexible rewards program that allows you to redeem miles for travel with the issuer or to pay outside travel expenses, in addition to a large sign-up bonus and numerous valuable advantages that make it easier to offset the cost of the card.

Excellent reward rate for both travel and non-travel purchases.

It's not uncommon for luxury travel cards to offer large returns on travel expenditures like airline and hotel reservations, but the Venture X card goes above and above with its generous rewards on everyday purchases.

When you book hotels, rental cars, and flights through the Capital One Travel portal, you'll get 10 points for every dollar spent, plus an additional 5 miles for every dollar spent on flights. You'll also earn 2 miles for every dollar spent on everything else.

In terms of hotel and airline reservations, rival luxury travel cards may be able to equal the Venture X card's rewards rate, but few can match the card's higher points rate on all other expenditures. When it comes to general spending, comparable cards that earn 2 to 5 points per dollar on travel, dining, and groceries nearly never provide more than 1 point per dollar. Many flat-rate reward cards offer 1.5 or 2 points per dollar on all eligible transactions, but there are no bonus rewards rates for any specific spending categories. As a result, the rewards program for the Venture X credit card is truly unique and has the potential to be extremely lucrative, especially for those who make large purchases and travel frequently.

Let's imagine you fly 10 times a year at $350 each, for a total of $3,500 in airfare expenses. It is possible to earn 17,500 miles by booking through the Capital One Travel platform (at a rate of 5 miles per dollar). Additional 56,000 miles can be earned annually by spending $1,500 per month on general purchases (at a rate of 2 miles per dollar) and $2,000 on Capital One-booked hotels and rental cars (at a 10 mile per dollar rate). This adds up to an annual mileage total of 73,500 miles, which are worth $735 when used for travel.

This means that even after subtracting the $395 annual charge, you'd still have a profit of $340.

The annual fee is easily paid for by perks and bonuses alone

For anyone concerned about the high annual cost, you can be assured that the card's excellent advantages make it well worth it. As a matter of fact, if you take advantage of just two of the card's most important perks—the account anniversary bonus and the annual statement credits on Capital One Travel purchases—you'll be able to cover the card's annual fee in whole.

For every anniversary of your Capital One credit card, you'll receive 10,000 bonus miles, which are worth $100 when used to pay for travel through Capital One or to cover other travel expenses. Capital One Travel purchases qualify for annual statement credits of up to $300.

As a result, if you're already spending $400 or more on travel each year, carrying the Venture X card is almost free. With an annual charge of $395, you'll receive $100 in travel rewards each year, and if you book through the Capital One Travel portal, your first $300 in expenses will be reimbursed by statement credits.

For those who travel frequently, the card's other significant features, such as a $100 credit for Global Entry or TSA PreCheck every four years and a complimentary Priority Pass Select membership, may be more appropriate. You'll also have two free guest passes per year, as well as unlimited access to the brand-new Capital One Lounge. This lounge access alone might cover the yearly expense of the Priority Pass card if you consider that a Priority Pass Standard Plus membership is $299.

Unlike the Chase Sapphire Reserve, which charges $75 per authorized user, this card does not incur any fees for the first four authorized users you add to the card.

When compared to other luxury travel credit cards, the Venture X offers a remarkable array of perks to cardholders. Amex Platinum's $695 annual charge and Chase's $550 annual cost diminish in compared to a $395 yearly fee on the American Express Visa Signature.

Simple travel redemptions

As with the original Venture Rewards Credit Card from Capital One, the Venture X offers a wide range of redemption options. For the first time, the Venture X allows you to redeem miles for travel not only through the Capital One Travel portal, but also for bookings made directly with airlines and hotels or via third-party travel sites like Expedia.

For those of you who like to compare prices on flights and hotels before making a decision, this is a huge benefit.

There is a good selection of travel transfer partners, including British Airways, Air France-KLM, Avianca LifeMiles and Wyndham Rewards, all of which allow you to transfer miles at a 1:1 ratio. Transferring your Capital One miles this way may even provide you a better return on your money, depending on the value of the transfer partner's rewards currency.

Excellent sign-up bonus

This is the best moment to apply for a travel rewards card because the Venture X card offers one of the largest sign-up bonuses currently available on the market. It doesn't matter if the current bonus is lower than the card's original 100,000-mile bonus, because it's still a very good deal. When redeeming points for travel, you can get 75,000 extra miles after spending $4,000 in the first three months, which is worth $750 when redeemed for travel.

This is a good enough bonus value to compete with the more expensive Amex Platinum ($695 annual fee) and Chase Sapphire Reserve ($550 annual fee) credit cards, which have far higher annual fees than this card.

What are the drawbacks with this card?

A great travel rewards credit card, no doubt, the Venture X is not the greatest fit for your goals or spending patterns if it is not accompanied with a generous welcome bonus and a great rewards rate on both travel and regular expenditures.

A lower-cost, more versatile rewards card may be a better option if you only travel a few times a year or if you want the ability to redeem rewards for both cash and travel without compromising rewards value.

A suboptimal choice for infrequent travelers

For first-time travelers, the Venture X card may be out of reach despite its substantial rewards rate on non-travel expenditures and its simple benefits, which help to offset its price.

Capital One travel bookings and up to $300 in yearly statement credits for Capital One Travel purchases are essential to getting the most out of this card. Even if you travel frequently enough to take use of these benefits, the annual fee for the Venture X card may be too much for you if you don't mind booking travel through an external gateway instead of the issuer's.

To break even with the Venture X card, you'll need to spend at least $19,750 a year (just under $1,650 per month) on general expenditures and no trip bookings. Compare this against a less expensive choice, like the Venture card, to see how it stacks up. If you want to break even with the Venture X and its $95 annual fee, you'll need to spend just over $395 a month. That's less than one-fourth of what you'd need to do with the Venture card. An extreme illustration of how difficult it could be for people with moderate spending and travel habits to justify the Venture X card's premium is provided here.

Additionally, the Venture X isn't a good choice if you plan to use your rewards for anything other than travel, such as cash back, gift cards, online shopping, or other travel-related redemptions. A non-travel redemption will often reduce the value of your miles, making it even more difficult to justify the expense of the Venture X.

Here, the Venture X card rewards program falls short of the flexibility offered by a program like Chase Ultimate Rewards, which offers 1-cent-per-point redemptions on everything from airfare through gift cards.

Perks are limited for non-travel related expenses

When it comes to features like fast security screening and airport lounge access, the Venture X card's perks may not be enough for you. On premium cards, you won't get perks like gratis meal delivery subscriptions or shopping and ridesharing credits.

Compare this to the Amex Platinum, an exclusive card that some users have described as "beginning to resemble a coupon book" because of all the extra credits and discounts it offers. Additionally, the Amex Platinum card would provide you with hundreds of dollars worth of incentives, like up to $200 in Uber credits, up to $100 in Saks Fifth Avenue credit, up to $300 in Equinox gym membership credits, and more.

The bottom line

Venture X should be an excellent choice if you frequently travel and want a credit card that you can use for most of your travel and day-to-day expenses.

In addition to the annual fee, the best-in-class points rate on general purchases ensures that the card will continue to provide value even if your travel expenditure decreases.

But if you aren't sure you'll spend at least a few hundred dollars on travel each year or if you want the ability to redeem for cash back without losing reward value, a lower-cost general rewards card may be a better match for you.

Digital currency that is decentralized and built on the blockchain is known as cryptocurrency. Although Bitcoin and Ethereum are the most well-known cryptocurrency, there are more than 20,000 others in existence.

To understand what cryptocurrency is, we have to understand what a blockchain is and lastly, how it all fits together into making crpytocurrency usable to the everday person.

What is a blockchain?

A blockchain is a digital ledger that stores all transactions in a public, decentralized database. In reality, it's more like a checkbook that's spread out over a large number of computers all over the globe. There are "blocks" of bitcoin transactions, which are subsequently linked together on a "chain."

An African cryptocurrency exchange's co-founder Buchi Okoro adds, "Imagine a book where you write down everything you spend money on each day," he says. In the same way that each page of a book is a block, the complete book is a blockchain.

For the sake of creating an all-inclusive ledger of all transactions, a blockchain ensures that every bitcoin user gets their own copy. As soon as a transaction occurs, it is recorded in the blockchain, and all copies of the blockchain are automatically updated with the new information.

There are several validation techniques used to make sure that no transactions have been fraudulently altered.

Proof of Work vs Proof of Stake

Transactions are added to a blockchain via a consensus technique known as proof of work or proof of stake. For their efforts, verifiers are paid with cryptocurrency.

Proof of Work

When it comes to authenticating transactions on the blockchain, "proof of work" is a mathematical issue that computers race to solve, says Simon Oxenham, social media manager at Xcoins.com.

A "miner" is a computer that participates in the blockchain record by solving a mathematical challenge to verify a set of transactions, known as a "block." To show its appreciation, the first computer to successfully complete the task gets given a modest sum of cryptocurrency. For example, verifying a new block in Bitcoin rewards a miner with 6.25 BTC (approximately $200,000).

Solving blockchain puzzles may necessitate considerable computer and electricity resources. After accounting for the expenses of power and processing resources, the miners may only break even with the crypto they earn for validating transactions.

Proof of Stake

Using a proof of stake verification approach, certain cryptocurrencies lower the amount of electricity needed to verify transactions. Proof of stake limits the number of transactions any user can verify to the amount of cryptocurrency they're willing to "stake," or temporarily lock up in a communal safe, in order to participate in the process.

Okoro compares it to "bank collateral." If you stake crypto, you're qualified to verify transactions, but your chances of getting picked tend to improve the more you invest.

According to Anton Altement, CEO of Osom Finance, proof of stake is more efficient than proof of work because it doesn't require energy-intensive equation solving. This results in speedier verification/confirmation times for transactions.

Bitcoin, for example, has a transaction time of at least 10 minutes per transaction. Take Solana, which uses the proof-of-stake mechanism and has an average transaction rate of roughly 3,000 transactions per second (TPS), and compare that to Bitcoin's sluggish network.

Ethereum, Bitcoin's main competitor, is also moving to a proof-of-stake consensus process. "The final chapter of proof of work on Ethereum" is expected to result in a 99.95% reduction in energy consumption.

So how does cryptocurrency work?

A cryptocurrency is a digital, encrypted, and decentralized medium of exchange. Unlike the U.S. Dollar or the Euro, there is no central authority that manages and maintains the value of a cryptocurrency. Instead, these tasks are broadly distributed among a cryptocurrency’s users via the internet.

You can use crypto to buy regular goods and services, although most people invest in cryptocurrencies as they would in other assets, like stocks or precious metals. While cryptocurrency is a novel and exciting asset class, purchasing it can be risky as you must take on a fair amount of research to understand how each system works fully.

Bitcoin was the first cryptocurrency, first outlined in principle by Satoshi Nakamoto in a 2008 paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” Nakamoto described the project as “an electronic payment system based on cryptographic proof instead of trust.”

That cryptographic proof comes in the form of transactions that are verified and recorded on a blockchain.

How do you mine cryptocurrency?

Mining is the process through which new units of bitcoin are created and released into the world. Proof-of-work systems, such as Bitcoin, are more harder for the average person to mine despite theoretically being doable.

According to Spencer Montgomery, head of Uinta Crypto Consulting, "as the Bitcoin network grows, it gets more sophisticated and more processing power is necessary. There was a time when this was possible for the average person, but now it's just too pricey. We can't compete with the sheer number of people who have perfected their technology and equipment."

It takes a lot of energy to mine proof-of-work cryptocurrency, as well. Mining bitcoins presently consumes more electricity than Norway uses in a year, at an annualized rate of 127 terawatt-hours (TWh).

Proof-of-stake systems require less computer resources than proof-of-work systems since validators are picked at random based on the amount they staked. However, in order to take part, you must already have a cryptocurrency. Nothing can be staked without crypto. (This is true even if you do have crypto.)

How can you use cryptocurrency?

In addition to purchasing goods and services with cryptocurrencies like Litecoin, Bitcoin, and Ethereum, you can also utilize crypto as an alternative investing strategy.

What you're looking to buy will determine whether or not you can safely use crypto to make the purchase.

You'll need a cryptocurrency wallet if you want to send money using cryptocurrencies. As a "hot wallet," this program interacts with the blockchain and allows users to transfer and receive their cryptocurrency stored on the blockchain.

It's important to keep in mind that transactions don't happen instantly because some method is required to verify them.

Where can you buy cryptocurrency?

In general, the best way to buy cryptocurrencies is thru centralized exchanges such as Binance, Coinbase, Kraken, and Gemini. Bitcoin, Ethereum, and BNB are some of the most popular cryptocurrencies available for trading. But it's possible that they have certain drawbacks. You'll need to check with your exchange to see if they support the crypto pairing you require to make a buy.

If you have USDT, a crypto stablecoin, you can use it to purchase any crpytocurrency with that particular pairing. Some exchanges may have a cryptocurrency that another one doesn't, so make sure the exchange you're about to sign up for actually has that particular cryptocurrency on their exchange.

Lastly, the fees on some exchanges can be prohibitively high for tiny crypto purchases, so keep an eye out for that.

Many individuals were interested in non-fungible tokens (NFTs) in 2021 as the name began to circulate in crypto forums and beyond.

Although NFTs had an excellent year in 2021, the public's natural curiosity diminished. Users of cryptocurrency are less excited about this new technology than they were a year ago.

For DEXterlab's July survey, they used Twitter polls to gauge the current level of NFT acceptance. People who have never bought an NFT before, according to the study, are planning to do so in the future. 26.6 percent of those surveyed said they plan to buy an NFT, compared to 31.7 percent of cryptocurrency fans who said they wouldn't.

17.1 percent of people purchased their first NFT in 2021 or earlier, according to the findings. While searches for "NFT" were down significantly in 2022, the data shows that more people made their first purchase than in 2021, with 24.4% of respondents saying they bought their first NFT in 2022.

Bear markets have negative impact on NFTs

In 2022, the global economy experienced a dismal year. There was a constant rise in prices, thus the Federal Reserve was forced to institute strict price controls. Due to the current state of affairs, traditional markets are in a state of panic. As stock prices continue to decline, this has a direct impact on the cryptocurrency market, which is directly linked to the stock market.

Individuals typically sell out of their positions during a bear market until the macroeconomy regains its footing. Only 35.2% of those who applied said they purchased NFTs during the bear market. According to the study, 51.6 percent of those who participated had a negative outlook on the future and were not planning to engage in NFTs at this time.

The number of investors in so-called "blue chip" NFTs, which are higher-tier NFTs, is much less. NFTs from well-known collections such as Bored Ape Yacht Club, Cryptopunks, DeGods, and a slew of others are included here. The cost of a blue-chip NFT can range from tens of thousands of dollars to several hundred thousand dollars or more.

Most blue-chip NFTs lost more than half their USD values, yet just 13.2 per cent of participants in the survey felt that investing big amounts of money into blue-chip NFTs is a good idea.

Most users feel safe owning NFTs during bear markets

To find out if people were still buying NFTs despite the bad market, DEXterlab conducted a survey. 46.5 percent of NFT investors say they are confident in their holdings because they believe NFTs are a safe investment. NFTs are considered dangerous by 53.5 percent of individuals who took the survey.

Possibly, non-fungible tokens are now at the same stage of adoption as other cryptocurrencies, and we can expect to see an increase in NFT users in the next several years.

Although the number of persons searching for NFTs declined in 2022, the fact that more people received their first NFTs in 2022 than the previous year supports the idea that adoption will continue to increase. Interestingly, Finbold had previously estimated that over 64% of consumers buy NFTs for financial gain.

Because many investors continue to hold NFTs despite their declining value, it suggests that the NFT bull market isn't dead and will eventually be revived, as some have argued.

The month of July was again another challenging one for cryptocurrency investors: During that little time frame, the total market capitalization of all openly traded cryptocurrencies experienced a precipitous drop of 33 percent, going from $1.31 trillion to $880 billion. This represents a decrease of 70 percent from the market worth of $2.96 trillion in November 2021.

It goes without saying that this asset class is not a playground for momentum investors at the present time; but, contrarian investors may want to start contemplating tiny purchases in some of the leading cryptocurrencies at current prices for a few different reasons.

First, digital assets are more established than they have ever been at any point in their history, and initiatives in the nascent industry continue to attract enormous amounts of brainpower, labor, and money. This is the case despite the fact that digital assets have been there for a long time. Second, drops of 70 percent are not actually unheard of in the cryptocurrency market. For example, the price of bitcoin dropped from approximately $20,000 to approximately $3,000 between the latter half of 2017 and the latter half of 2018.

Here we list the five best cryptocurrencies to buy right now. The following coins are extremely affordable and some of them have the potential to go over 100x in a matter of months.

1) Bitcoin (BTC)

It is probably a good idea for every investor in cryptocurrencies to have at least some exposure to Bitcoin, which is both the first cryptocurrency and the cryptocurrency with the greatest market capitalization by a significant margin.

Bitcoin, along with the rest of the market, has been pummeled ever since it reached an all-time high in November somewhere around $69,000, and it is currently treading water somewhere around the $20,000 level. Its appeal lies in the fact that its maximum supply is governed by rules and is capped at 21 million coins, and it is not connected to any central bank or government that has the ability to print money at will.

Long-term investors in BTC shouldn't be frightened by the cryptocurrency's present bear market because its past is replete with examples of steep declines followed by epic rebounds. This kind of institutional adoption will be very excellent for Bitcoin bulls if other S&P 500 corporations follow the lead of companies like Tesla (TSLA) and add Bitcoin to their balance sheets.

2) VectorspaceAI (VXV)

Vector Space Biosciences or simply, VXV, is a promising project that you could say is a little bit ahead of its time.

Novel discoveries involve identifying, extracting, and confirming object relationships. Scientific data engineering pipelines using language modeling, vector representations (embeddings), and datasets can help comprehend how two items are related, including the relationship's strength and how it evolves based on context. Genes, proteins, pathways, RNA, molecular sequences, and biochemicals are examples. Hidden links between things can speed up space biosciences discoveries.

So what does VXV do? It speeds up the recognition of these hidden relationships. This has a multitude of applications, including healthcare, biotech, economics, you name it. It's not outrageous to say that VXV is one of the most promising crypto projects on the market right now.

3) Etherium (ETH)

Bitcoin and Ether are the only two cryptocurrencies that an investor who is just getting their feet wet in the digital currency market absolutely needs to acquire. In common parlance, it is referred to as Ethereum; but, technically speaking, this refers to the name of the widely used blockchain network and not the native money of the network.

The Ethereum blockchain was primarily responsible for introducing decentralized finance, also known as DeFi, to the rest of the world. Ethereum's widespread adoption and dedicated developer community give it an advantage over competing DeFi systems. When it comes to the issue of non-fungible tokens, altcoins, and games based on the blockchain, Ethereum is one of the most popular networks.

A phenomenon known as "The Merge," an event that will switch Ethereum from the less scalable, more expensive, and more energy-inefficient proof-of-work algorithm to the less problematic proof-of-stake mechanism, is the catalyst for ETH in the medium term. Even while nobody knows when exactly The Merge will take place, most people believe that it will take place at some point during this year.

4) Avalanche (AVAX)

Because the cryptocurrency market is not a winner-take-all environment, there is room for other cryptocurrencies in the DeFi ecosystem other than Bitcoin and Etherium. For this reason, Avalanche appears to be one of the most promising long-term investments among cryptocurrencies. It is one of the few cryptocurrencies whose price is actually higher today than it was a year ago, and AVAX's price has increased around five-fold since it made its public debut in 2019 at around $4.

Ava Labs, the company responsible for the development and support of the Avalanche ecosystem, has ambitious intentions for the cryptocurrency Avalanche. "We picture a world where everyone who's doing anything is going to have some version of their own blockchain, constructing their own thing," said Patrick O'Grady, head of engineering for Ava Labs. "We view a world where everyone who's doing anything is going to have some version of their own blockchain." This ambition is being made a reality by Avalanche through the introduction of a brand new feature known as subnets. "We believe that within the next five years, we will become the Amazon Web Services (AWS) of the cryptocurrency industry. You will install your blockchain on top of Avalanche, as opposed to deploying a software on a web server hosted by Amazon Web Services (AWS) "O'Grady explained.

Along with it's comparatively fast network transaction speeds, AVAX is one cryptocurrency to watch in 2022 and beyond.

5) Binance Coin (BNB)

After Bitcoin and Ether, Binance Coin is the cryptocurrency with the third-largest market capitalization. This ranking does not include stablecoins. Its market capitalization was approximately $40 billion at the time this article was written. Binance is the largest cryptocurrency exchange in the world, and its native token is known as BNB. The trading data from July 7 provides a glimpse of its dominant position in the market: Trading volume for the previous twenty-four hours on Binance was $10.5 billion, dwarfing that of its nearest mainstream competitor, FTX, which had volume of $1.6 billion. Binance is a global participant in the cryptocurrency market, and they have a lot of projects in the works related to blockchain technology and decentralized finance. It may be argued that BNB is now the most formidable competitor in the race to become an established blue-chip cryptocurrency in the same league as Bitcoin and Ether.

The modern economy is based on credit. If you want a mortgage for a home or a student loan to pay for education, or if you want to to buy something you want on a credit card, you'll need a lender to grant you a line of credit.

You must also be deserving of this line of credit. Your three-digit credit score defines your creditworthiness and is the key to your financial life. Good credit might be the deciding factor in obtaining a mortgage, automobile loan, or school loan. Bad credit, on the other hand, makes it harder to obtain a credit card with a low interest rate and makes borrowing money for any purpose more expensive.

Even if you are not seeking a loan, having good credit can have a significant influence. Credit information is routinely used by landlords, insurance, and employers as a litmus test to determine whether a person is dependable and accountable. Bad credit can indicate that you are a dangerous investment.

Technically, your credit report reveals only the particulars of your debt management, but some will extrapolate the features from your financial life to other scenarios. Good credit can indicate that your financial status and life as a whole are on the correct track. This means that your credit score can impact your insurance premiums, housing approval, and possibly even your employment prospects.

However, what constitutes a good credit score? Understanding why particularly good credit is important and how to create a good credit score will enable you to reap the benefits of excellent credit, so let's take a closer look at what you need to do to reach the "good credit" range.

Benefits of Good Credit

There are numerous advantages to having excellent credit. For instance, landlords are more willing to rent you an apartment. As part of the recruiting process, an employer may investigate your credit history if you are job-seeking. However, the greatest benefits of good credit are monetary. Here are three ways that having good credit can make your life more convenient and economical.

Better credit approval odds

Your credit applications are more likely to be approved if you have an excellent credit score. This implies that when you apply for credit cards, loans, or mortgages, you will have a greater chance of being accepted and may spend less time awaiting a response.

Reduced interest rates

In addition to having a higher rate of credit acceptance, those with strong credit typically receive cheaper interest rates. In the long run, paying less interest on your debt can save you a substantial amount of money, so improving your credit score is one of the most prudent financial actions you can do.

Loan conditions that are more favorable

People with good credit typically receive more favorable loan terms than those with poor credit. You may earn a bigger credit card limit or be eligible for a low fixed-rate mortgage, for instance.

So what is a good credit score?

What is a credit score that is considered to be good? According to the FICO methodology of credit scoring, there are five separate categories in which credit ratings can be placed:

Bad: 300 to 579
Fair: 580 to 669
Good: 670 to 739
Very Good: 740 to 799
Excellent: 800 to 850

The range of FICO credit scores from 670 and 739 is considered to be the range of good credit ratings. On the other hand, a large number of individuals regard a FICO score of 670 or higher to be "excellent credit." If you have flawless credit or exceptional credit, it follows that you also have good credit because of this.

If you have a credit score that is greater than 670 on the FICO scale, you not only have strong credit, but you have also graduated from the "subprime" area and into the "prime" category for your credit. It is more likely that those with good credit will profit from the prime interest rate. This indicates that you may pay less interest overall on your credit cards, mortgages, and loans if you have good credit.

How do I get a good credit score?

If you want to have a good credit score, you need to know how credit scores are calculated and how to establish credit at the same time.

Your FICO credit score is determined by the combination of five different criteria, which are as follows:

Payment history: accounting for 35 percent
Credit utilization: 30 percent
Length of credit history: 15 percent
Credit mix: 10 percent
Credit inquiries: 10 percent

If you want your credit score to be in the range of good credit scores, you will need to modify your credit practices in relation to those five elements listed above.

Payment record

Due to the fact that payment history accounts for 35 percent of your credit score, make every credit card payment on time. Missing a credit card payment can have severe negative impacts on your credit score, especially if the missing payment is not made as soon as feasible.

Credit utilization

Your credit utilization ratio indicates how much of your available credit you are utilizing at present. If you want to have good credit, you should maintain your credit utilization below 30 percent. If you have $10,000 in available credit, for instance, your total credit card balances should not exceed $3,000. If your credit card balances exceed 30 percent, you should pay them off as soon as feasible. Thus, these big sums will be less likely to negatively impact your credit score.

Credit history length

Lenders prefer to see that you can responsibly manage credit accounts over an extended period of time. It is therefore unwise to close outdated credit cards, even if they are no longer in use. Your credit report only lists current credit accounts, so when you close your oldest credit accounts, your credit history is shortened. If you wish to develop credit, keep your credit card accounts active.

Credit mix

The many forms of credit accounts in your name constitute 10% of your credit score. Your credit score may increase by a few points if you have both revolving credit (such as credit cards) and installment credit (such as a mortgage or auto loan). However, even if you only use credit cards, you can still establish and maintain a decent credit score, so don't panic if you don't have much of a credit mix yet.

Recent credit inquiries

When you apply for a new line of credit, the bank or lender performs a credit check. Applying for too much new credit at once is a dangerous financial practice that can negatively impact your credit score if you have too many recent credit inquiries on your report. Three to six months should elapse between credit card applications if you're attempting to develop credit.

It is also prudent to monitor your credit report and credit score on a frequent basis. There are inaccuracies on the credit records of millions of Americans, and these errors could be negatively impacting your credit score. Examine your Equifax, Experian, and TransUnion credit reports carefully and contest any errors you uncover.

Key Takeaways

What exactly is considered a good credit score? If your FICO score is higher than 670, this indicates that your credit is in good standing. Because having good credit has a multitude of advantages, such as the ability to obtain better credit cards and reduced interest rates, it is imperative that you have an understanding of the ways in which your credit habits may be helping or damaging your credit score.

After you have gained an understanding of how to improve your credit score, you will be in a position to take advantage of the numerous advantageous financial options that are linked with having good credit. These include access to the top credit cards available today, which offer a variety of benefits, such as cash back returns and advantages for luxury travel.

Building credit for a home or car purchase without cash is crucial. Businesses utilize credit reports and scores to determine your creditworthiness and set your borrowing terms.

Lenders use credit scores to determine the risk you pose as a borrower based on how you've managed debt in the past. If you've always made on-time payments and managed debt properly, you may have an excellent credit score and be approved for credit with favorable terms. If you have little credit history or late payments, you may have trouble opening a new account. If authorized, you'll probably get worse terms.

Building credit takes time, but the benefits are many. Even if you don't need good credit right now, it's never too late to start building.

Estabilishing Credit With No Credit History

Many Americans, particularly among the younger generations, have no credit history. And, despite how difficult it may seem, it is possible to build a credit score with no credit history. Consider the following methods for establishing credit from scratch.

1. Request that someone with established and good credit assist you in obtaining a loan or add you as an authorized user on one of their existing credit card accounts. This will allow you to have your first account listed on your credit report, which will allow you to establish a positive payment history. Your payment history and experience with this account will help you build your own score over time. You can then apply for additional credit on your own.
2. Apply for a credit account designed specifically for people who are new to credit. Look for loans tailored to people with no credit history. Credit-builder loans, for example, can assist you in beginning to build credit; you can obtain one of these loans from a community bank or credit union. Always confirm that the lender will report your account and payment history to one or more of the three major credit bureaus before applying for a loan with the intention of building credit (Experian, TransUnion and Equifax).

Build Credit Using Credit Cards

Credit cards help develop credit. They're the most prevalent form of credit and can be used to build credit. Using a credit card to buy groceries or trips and then paying it off shows lenders you can manage debt.

How you use a credit card to develop credit will affect your ratings. Maxing out your credit card amount and missing payments will hurt your credit. Make timely debt payments to develop enough credit to get the best credit cards.

Four ways to build credit safely using a credit card:

1. Start using youir credit card: Credit history should determine the card you apply for. Fair, bad, good, and no-credit credit cards are available. If you have some credit history, apply for a starter card (like a shop card). If you have no credit history, you'll need a secured card. Use your first card to make small, ordinary purchases. Pay down your balance each month to show lenders you're a responsible borrower.
2. Use a secured credit card: No or low credit will limit your credit card selections. You may qualify for a secured credit card. This card functions like a typical credit card, only the issuer keeps a security deposit as collateral against your spending. The issuer maintains the deposit if you stop paying and default on the account. This protects credit card providers financially so they can approve customers with poor credit. Once you acquire a secured card, pay your account on time and in full each month. This will assist build your credit history over time.
3. Authorized User: Becoming an authorized user can benefit persons who can't qualify for a credit card. You'll be added as an approved user and given your own card. Positive payment history is included to your credit report and scored. Since you don't manage the account or make payments, it can't do much for your credit.
4. Increase your credit limit: There are strategies to maximize your credit card's benefits. First, use it and pay on time every month. After a few months, request a limit increase. This could increase your credit use ratio, or debt to credit limits. Keeping your balances under 30% of your credit limits can enhance your ratings. The lesser your credit utilization, the better it is for your ratings. Before requesting a limit increase or applying for new credit, pay down as much of your debt as feasible. If your limit is raised, don't spend more.

Build Credit Without Credit Cards

Credit cards help develop credit, but they're not your only option. Since your credit score reflects how well you've managed debt in the past, good-standing accounts might boost your score.

There are ways to create credit even if you don't have any accounts. Here are four ways to create credit without a card:

1. Repay all loans: Your payment history affects your credit score the most, so pay attention to your debt. Maintain an excellent payment history by making complete, on-time payments. Your loan repayment progress affects your score. Near-zero loan amounts show lenders you can repay loans.
2. Installment loans boost credit ratings: Installment loans, which you repay in regular installments, can help you improve credit. Installment loans include auto, home, personal, and student. If you make all your payments on time, a car or college loan might help you develop credit. There are credit-builder loans that work differently and are intended for this purpose.
3. Nonprofit loans: Peers in a lending circle lend to each other. This helps communities develop credit. The Mission Asset Fund helps with credit-building and borrowing.
4. Add monthly bills to credit report: Even if you've always paid your bills on time, cellphone and energy bills won't enhance your credit score. Using services like Self and even Experian Boost will help to add your regular expenses to your credit report, which will boost your score.

When compared to the typical offer, the most advantageous credit cards can provide users with annual savings of $300 to $650 or more. This is made possible by the cards' exceptional value in the form of incentives, competitive interest rates and fees, and a variety of other unique features. Choosing which characteristics are most important to you is the first step in obtaining the finest credit card for your needs. Next, evaluate different credit card offers to look for the one that comes with the greatest overall value.

Our choices for the best credit cards to be issued in 2022 include options for consumers with a wide range of credit histories. They also come with substantial initial incentives, abundant recurring perks, and introductory interest rates of zero percent. Continue reading to find out more about the top credit card deals for the year 2022, which are presented below in order of credit rating. In addition to the cards themselves, you'll also find the answers to a number of frequently asked questions regarding the most advantageous credit cards and other topics.

Chase Freedom Unlimited®

The Chase Freedom Unlimited card is the best credit card because it provides exceptional rewards in addition to having no annual fee and introductory annual percentage rates (APRs) of 0% for the first 15 months on both new purchases and balance transfers. The card also has no foreign transaction fees. The Freedom Unlimited Card's rewards program kicks off with an additional 1.5% cash back on all purchases made in the first year, up to a maximum of $20,000 spent with the card. Because of this, you may be eligible for an additional cash refund of up to $300.

In the normal course of events, the Freedom Unlimited credit card provides a cash back reward of 5% for trips booked through Chase, 3% cash back in restaurants and pharmacies, and 1.5% cash back on all other purchases. People who have good or excellent credit and meet the other requirements can take advantage of this wonderful bundle.

Additional Information:

• Earn 1.5% cash back on all purchases (up to $20,000 in the first year) for up to $300.
• Enjoy 6.5 percent cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5 percent cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service; and 3% on all other purchases (up to $20,000 in the first year).
• After $20,000 spent, get 5% cash back on Chase travel purchased through Ultimate Rewards®, 3% cash back on pharmacy purchases and eating at restaurants, including takeout and qualified delivery service, and limitless 1.5% cash back on all other purchases.
• No cash-back minimum. Most U.S. checking and savings accounts accept statement credits or direct deposits. As long as your account is open, Cash Back incentives never expire.
• Enjoy 0% Intro APR for 15 months on purchases and balance transfers, then 16.49% - 25.249% variable APR.
• No annual fee - Your Freedom Unlimited® card has no yearly fee.

Wells Fargo Active Cash® Card

The Wells Fargo Active Cash® Card is an excellent credit card that rewards cardholders with 2% cash back on all purchases made with the card. For the sake of comparison, the typical cash back rewards credit card provides approximately 1 percent back. Cardholders have the opportunity to receive an introductory bonus of $200 cash rewards after making a purchase of $1,000 within the first three months of having the card. Additionally, there is no annual cost associated with using Wells Fargo Active Cash.

Additional Information:

• Spend $1,000 in the first 3 months and get $200 cash back.
• Unlimited 2% cash rewards
• Cash awards don't expire as long as your account is open.
• 0% intro APR for 15 months on purchases and eligible balance transfers, then 16.49%, 21.499%, or 26.499% variable APR; balance transfers made within 120 days qualify for the intro rate and charge of 3% then a BT fee of up to 5%, min: $5 $0 annual fee
• Visa Signature Concierge offers premium benefits at some of the world's finest hotels.
• Pay your monthly cell phone bill with your Wells Fargo Active Cash® Card and get up to $600 in damage or theft protection (subject to a $25 deductible)

Blue Cash Preferred® Card from American Express

One of the credit cards that offers the best general rewards is the American Express Blue Cash Preferred card. People with strong or exceptional credit who spend the majority of their money on things like streaming services, groceries purchased at U.S. supermarkets, gas purchased at U.S. gas stations, and transportation expenditures may consider applying for this card.

The Amex Blue Cash Preferred card's annual cost of $95 is well worth the value it provides. If you open an account and spend $3,000 within the first six months of having the account, you will receive a statement credit of $350. Spending as little as $1,600 per year in the appropriate purchase categories on the card will be sufficient to trigger the continuous bonus benefits and pay the cost of the card's annual fee. If an individual makes regular purchases with their Blue Cash Preferred Card, they may expect to rack up hundreds of dollars in additional net rewards value each year, even after taking into account the card's annual fee.

Additional Information:

• Annual fee of $95 per year
• Spend $3,000 on your new Card within 6 months and get a $350 statement credit
• Up to $6,000 each year in Cash Back at U.S. supermarkets (then 1 percent).
• Select U.S. streaming subscriptions get 6% Cash Back
• 3% Cash Back at U.S. petrol stations and transit (taxi/rideshare, parking, tolls, trains, buses, etc.)
• Other purchases: 1% Cash Back
• Reward Dollars can be redeemed for a statement credit
• Buy Now, Pay Later: Plan It® splits large purchases into monthly payments with no startup fees. Plans created in the first year are free. After that, plans will have a fixed monthly fee up to 1.33 percent of each purchase amount put into a plan dependent on plan term, APR, and other parameters
• 0% initial APR for 12 months on purchases from account opening, then 15.49% to 25.49% variable.

Citi® Double Cash Card

The Citi Double Cash card is the best credit card for people with good credit since it offers large rewards at a flat rate and has a low annual fee. The Double Cash Card does not charge an annual fee and awards a total of 2% cash back in rewards on all purchases. This makes it almost two times as rewarding as the typical cash back credit card in 2022, when taking into account both factors.

To be more specific, cardholders earn rewards in the form of cash back at a rate of 1 percent cash back on purchases and an additional 1 percent cash back when paying the card's bill. Therefore, if you are looking for a wonderful card that offers straightforward rewards while maintaining its value, you can't go wrong with Double Cash.

Additional Information:

• Earn 2% on every purchase with 1% cash back when you buy and 1% as you pay.
• Pay the minimum due to earn cash back.
• 18-month 0% intro APR on balance transfers. After that, the variable APR is 15.49% - 25.49% based on creditworthiness.
• Transfers don't earn cash back. Purchases aren't eligible for intro APR.
• Unless you pay your whole balance (including balance transfers) by the due date each month, interest will be levied on balance transfers.
• Balance transfers within the first 4 months of account opening cost 3% (minimum $5). After that, transfers cost 5% (minimum $5).

Chase Sapphire Preferred® Card

One of the best initial incentives available on the market can be found with the Chase Sapphire Preferred Card, and it is especially beneficial for folks who enjoy traveling and do not mind booking their accommodations through Chase. When new cardholders make a purchase of $4,000 during the first three months of opening an account, they are eligible to get a bonus of 60,000 points. These points can be redeemed for either a $600 statement credit or $750 in travel booked through Chase Ultimate Rewards. When you add 1 to 5 points for every $1 spent on purchases, you have a card that is more than worth the $95 annual fee it requires.

Additional Information:

• Spend $4,000 in the first 3 months to earn 60,000 additional points. That's $750 with Chase Ultimate Rewards®.
• Enjoy a $50 yearly Ultimate Rewards Hotel Credit, 5x on Chase Ultimate Rewards® travel, 3x on dining, and 2x on other travel purchases, and more.
• Chase Ultimate Rewards® adds 25% to airline, hotels, auto rentals, and cruises. 60,000 points equal $750 in travel, for example.
• With Pay Yourself BackSM, your points are worth 25% more when redeemed for statement credits in specified, rotating categories.
• Activate DashPass by December 31, 2024 to get free delivery and cheaper service fees for a year.

Capital One Venture Rewards Credit Card

People with good or excellent credit who want to earn free flights, hotel nights, and other travel accommodations without overspending or committing to a single travel provider are ideal candidates for the Capital One Venture Card, which is a premium travel rewards credit card offered by Capital One and designed specifically for people with that level of credit. The reasons behind this are also very plain to see. After opening an account with Venture, customers are eligible for an initial bonus of 75,000 miles if they spend $4,000 within the first three months of membership. In addition, it offers users the opportunity to earn at least twice as many miles on transactions; nevertheless, there is a $95 annual fee associated with this credit card.

You are able to use your miles to pay for any travel-related expenditures once they have been posted to your account and can do so using the Venture Card. People who like to look about for the greatest rates on travel comparison websites will find that this kind of flexible redemption option is extremely handy.

Additional Information:

• Spend $4,000 in 3 months to get 75,000 additional miles, equal to $750 in travel.
• Every purchase earns 2X miles.
• Miles never expire and you can earn an unlimited amount.
• Global Entry or TSA up to $100 credit PreCheck®
• Enjoy two free visits each year to Capital One Lounges or 100+ Plaza Premium Lounges.
• Capital One Travel offers the best deals on thousands of trips and 5X miles on hotels and rental vehicles.
• Redeem your miles by booking a vacation via Capital One Travel.
• Transfer miles to 15+ loyalty programs

The student credit cards on this list are all the best of the best. They’re from reputable credit card issuers and offer rewards on purchases and special perks for students. Some even offer a special 0 percent introductory interest rate, which can give you time to get used to having a credit card without the extra cost of interest.

Once you’re approved for the credit card of your choice, make sure you keep your balance low and make all your monthly payments on time. These good habits will help build your credit history and allow you to qualify for things like a car, house or apartment in the future. Now, let’s take a look at the best student credit cards.

Best Overall: Discover it for Students

For the most potential in earning rewards, the Discover it for Students credit card is the way to go. Earn five percent cash back on quarterly rotating categories and one percent back on everything else. You must sign up to earn the five percent cash back in the bonus categories. As a bonus, Discover will match, dollar-for-dollar, all the cash you've earned back at the end of your first year.

You can also earn $20 cash back bonus each school year your GPA is 3.0 or higher. You can earn the bonus for up to the next five years.

Important Pricing: There’s no annual fee. Receive a 0 percent introductory APR for six months. After that, the regular APR is 14.49 to 23.49 percent.

Best Flat-Rate Rewards: Journey Student Rewards from Capital One

With the Journey Student Rewards Credit Card from Capital One, students earn one percent cash back on all purchases. Capital One offers a great incentive to encourage good credit card habits: an additional rewards for paying on time. You can boost your cash back up to 1.25 percent each month you make your payment on time.

There’s no limit on the amount of cash back you can earn, and your cash rewards don’t expire.

Good credit card behavior will allow you to earn another reward: a potential credit limit increase. If you make your first five payments on time, you’re eligible for a credit limit increase. To make it easier to make timely payments, you have the flexibility of choosing your own due date.

Important Pricing: There’s no annual fee or foreign transaction fees. The regular APR is 24.73 percent.

Best for Dining and Gas Rewards: Discover it Chrome for Students

If you’re a student that spends a lot on dining and gas, the Discover it Chrome for Students is for you. Earn two percent cash back at restaurants and gas stations on up to $1,000 in combined purchased every quarter and one percent on everything else. No signup needed.

Like the Discover it for Students, you can earn $20 cash back each school year your GPA is 3.0 or higher, for up to the next five years.

Important Pricing: There’s no annual fee. You’ll receive a zero percent introductory APR for six months. After that, the regular APR is 13.99 to 22.99 percent.

Best Points Rewards Credit Card: Citi ThankYou Preferred for College Students

The Citi ThankYou Preferred for College Students offers a nice signup bonus. You’ll get 2,500 bonus points after spending $50 on purchases in the first three months of account opening. The 2,500 points are worth $25 in gift cards, electronics and more at thankyou.com.

Ongoing, you’ll earn two points per dollar on dining and eating out and one point per dollar on all other purchases.

Important Pricing: There’s no annual fee. Enjoy a zero percent introductory APR on purchases for seven months. The regular APR is between 16.24 and 26.24 percent, depending on your creditworthiness.

Best for International Students: Deserve Edu MasterCard for Students

Most credit cards require a social security number. It’s how credit card issuers verify the student’s identity and check their credit history. This can pose a problem for any one who lacks a social security number, including international students.

The Deserve Edu MasterCard pays one percent unlimited cash back on all purchases made on the credit card. (This doesn’t include cash advances, balances transferred from another credit card or returned purchases). Deserve also pays for Amazon Prime Student membership, allowing cardholders to get access to Vdeo, Music, and reading. Amazon Prime Student membership is normally $59 per year.

After being approved, Deserve will begin reporting your credit history to the credit bureaus, which means your responsible credit card use will help you build a good credit score. Using your card responsibly also allows you to become eligible for the Deserve Pro MasterCard, which pays three percent cash back on travel and entertainment, two percent back on restaurants and one percent back on all other purchases.

Important Pricing: The regular APR is 20.49 percent. There’s no annual fee.

Best Signup Bonus: Bank of America Travel Rewards for Students

The Bank of America Travel Rewards for Students credit card pays a nice 20,000 bonus points. To earn the bonus, you’ll have to spend $1,000 on purchases in the first 90 days of opening your account. With this card, the 20,000 bonus can be redeemed for a $200 statement credit toward travel purchases made on your credit card.

Ongoing, you’ll earn 1.5 points for every dollar you spend on purchases. Plus, you can earn a 10 percent bonus on your rewards if you have an active Bank of America checking or savings account. You can use redeem your rewards on any airline or hotel purchase at any time.

As a Bank of America credit cardholder, you’ll be able to access your FICO score for free through the Mobile Banking app or in Online banking. The FICO score will keep you updated on where your credit stands.

Important Pricing: Enjoy zero percent introductory interest rate on purchases for the first 12 billing cycles. After that, the regular APR is 16.49 to 24.49 percent. There’s no annual fee and no foreign transaction fee.

Best for Building Credit: Capital One Secured MasterCard

It’s common for students establishing their credit for the first time to have a hard time getting approved for a credit card. That’s where a secured credit card can be useful.

With a secured credit card, you pay a security deposit to secure the credit limit.

With the Capital One Secured MasterCard, you’ll have the option to pay a refundable $49, $99, or $200 security deposit based on your creditworthiness. With the minimum required security deposit, you’ll get a $200 credit limit on your card to start out with. If you’d like a bigger credit limit, you can deposit more money before your account opens.

Once you’ve received your credit card, you can use it just like any other credit card. With the Capital One Secured MasterCard, you’re eligible for a credit limit increase when you make your first five monthly payments on time. You won’t have to make any additional security deposits toward this credit limit increase.

As a Capital One customer, you’ll get access to CreditWise, a free credit monitoring service that helps you stay on top of your credit history.

Important Pricing: The APR is 24.99 percent. There is no annual fee.

Best Low Interest Rate: Wells Fargo Cash Back Card for Students

With the Wells Fargo Cash Back Card for Students, you can earn three percent cash back on gas, grocery, and drugstore purchases for the first six months and then one percent cash rewards on all other purchases. You can choose to have your rewards automatically deposited into your Wells Fargo savings account in $25 increments, applied as a statement credit to your credit card, or sent to you via paper check. You can also redeem your rewards for travel, gift cards, and more.

New cardholders will enjoy zero percent introductory APR on both purchases and balance transfers for the first six months. If you also have a Wells Fargo checking account, you can use your credit card for overdraft protection, but beware that overdraft protection charges are treated as a cash advance and charged an additional fee and higher interest rate. It’s best to maintain a zero balance if you add your card as overdraft protection.

Important Pricing: After the introductory period, the regular APR is 12.90 to 22.90 percent based on your creditworthiness. There’s no annual fee.

While the holiday season may be one the best time of year, it’s not for your wallet. Christmas has a reputation for being particularly harsh on limited budgets and every year it can be hard to keep your bank account safe from taking a hard hit.

To avoid issues like this as 2018 comes to a close, you'll need to try and be organized, plan ahead and do as much shopping on a budget as you can. You'll also want to make the most of these money-saving apps that can help you save money while doing your Christmas shopping. Let's take a look.

Shopkick

Shopkick is an app that allows you to earn points or ‘kicks’, as you shop for products that you need. You can cash in these ‘kicks’ in exchange for coupons and gift cards that can be used at a broad range of retailers.

Shopkick has four different ways that you can earn kicks. These are through receipts, scans, walk-ins or a linked card. An example of this is if you go to Walmart and the app picks up on your location, you may earn twenty-five kicks just for walking through the door.

If you keep your receipts and scan them, you could earn up to five hundred kicks, while scanning the products themselves could earn you up to fifty kicks. If you link your credit card to the app, you could earn up to two hundred kicks.

What’s great about this app is that you don’t actually have to buy products to scan them. Just walk into the store and scan them while you’re in there.

You can also earn kick points when you do your shopping online. This is done a little differently, through every dollar that you spend. You get even more kicks if you refer a friend to the app – up to 2500.

Flipp

Flipp is a coupon app that gives you access to thousands of coupons for discounts on products in all kinds of different categories.

What’s great about this app is that it lets you search for your favorite products by brand, item or category. Flipp will also find flyer deals for the products you search and match these with their coupons so that you save even more.

This app is great for sending reminders about expiration dates on any coupons you may have saved. It also notifies you of any new offers on products you’ve already bought with the app.

Shop Savvy

Shop Savvy is an app with saving money in mind. It comes with a built-in barcode scanner. This allows you to quickly scan products as you buy them, comparing their price with other retailers that may stock them.

Not only does this app display competitive prices at other retailers, but it also searches online to see if you can get a better deal there. You can even compare and read genuine reviews about the products that you're buying.

Whether you like to shop at Target, Walmart or Best Buy, this app is one to look out for this holiday season as it will be serving up some of the best deals out there.

Retail Me Not

This award-winning app allows you to access thousands of deals that are local to you. However, it doesn’t just help you save money shopping – it also gives you deals at restaurants, too.

This all-inclusive app allows you to find deals on anything from beauty products and electronics to food and clothing. The best part is it will help you find deals that are close to where you’re located, so you don’t have to drive too far for them.

This app will also let you know when new deals pop up near you. You can redeem any of your coupons directly through the app.

Ibotta

Don’t feel like shelling out a fortune for your Christmas dinner this year? Ibotta is an app that offers you cash rebates for purchases on groceries and more at over eighty stores.

Ibotta is another app that uses your location to show you where the best deals are near to you. It also goes even further and offers you cash rebate on grocery items that are often harder to get a discount on, like diapers and wine.

To earn your cash back, all you have to do is scan the barcode on your receipt. You can get your cash back through Venmo of PayPal, or you can choose from many different gift cards.

You can get rebates both instore and online.

Ebates

You know how nice it is to be organized for Christmas well ahead of time. That’s why you need to make the most of discount days like Black Friday – and the help of an app called Ebates.

Ebates actually has a section that’s reserved exclusively for Black Friday. You can use an app like this to either get deals on products or cashback.

Not only does Ebate help you buy your Christmas gifts early, but it also enables you to save on the Lyft you'll have to pay to get them all home. You can get $1 cash back on every Lyft ride you take.

Ebate will pay you through PayPal or through snail mail by check.

Squirrel

This next app is similar to Ebate – it helps you make the most of starting your Christmas shopping early so that you’re all stocked up when the holiday season hits.

Squirrel is an amazing app that helps you to put a bit of your paycheck aside for Christmas, one bit at a time. It basically takes control of your paycheck – but you decide how much you want to put away each week.

It's different from other budgeting apps, however. When you sign up, you allow your paycheck to go into another account, called Barclays. From here your money will be slowly drip fed into your original account. This ensures that you don't spend it all at once.

Mint

Mint is a great way to help you stay on top of your budget while saving some money in the process as well.

This app is all about convenience. It lets you view all of your bank accounts at once so that you can track your spending, set savings goals and create realistic budgets.

Because you’re often run off your feet around Christmas time, Mint will send you reminders of when bills are due so that you don’t miss any deadlines.

Because Mint uses multi-factor authentication, you know that it’s incredibly safe to use for all of your financing and budgeting needs.

Christmas Gift List

This pleasantly simple app allows you to get all of your Christmas lists in order and all in one place. This way, you’ll be able to avoid buying that last minute Christmas gift that you also forget about.

It’s a great app for helping you to keep on top of things during the busy holiday season. Buying gifts last minute is often expensive, so this app helps you to get your lists organized well in advance, so you're not spending outside of your budget at the eleventh hour.

Each gift entry comes with a personalized note, a link, and a picture, so you know how much your budget is for that person and who it is you're spending the money on.
You’ll also enjoy having features like keeping track of how much money you’ve spent and your overall budget.

Let Go

Need to find an easy way to increase your Christmas gift budget in a short space of time? Use Let Go to get rid of things you don’t want anymore.

Let Go is an incredibly simple app that allows you to put your items up for sale in just a few easy steps. All you have to do is take a picture of your item, select a price and then the category that it falls into.

Any potential buyers can contact you directly through the app.

Final Thoughts

There are a seemingly limitless number of apps out there, all doing something to make our lives more convenient.

The holiday season is no exception to this relatively recent release of technology. When you're trying to get everything done in time for Christmas, it pays to have apps like these on your phone to make the most of.

Scammers are always coming up with new ways to scam people – and credit card users are appealing targets.

Being vigilant and on the lookout for scams can help to protect your credit card information from being stolen and fraud committed using your details.

Here a few credit card scams to watch out for and how to avoid them.

Confirming Your Information with Your EMV Card

The credit card industry is moving forwards towards EMV chip-enabled cards. This can help to reduce credit card fraud and is a move that’s been gradually taking place over the past few months.

Your credit card issuer will send out its customers new credit cards gradually, not all at once. This will reduce the chances of their clients being scammed.

So, how does this scam work? The scammers pose as credit card issuers. They email the customer with a warning that they must update their personal information so that they may receive their new EMV chip-enabled credit card.

If you reply to the email with any personal information or sometimes just click on the link, you could be giving the scammer what he needs to take your details and commit fraud.

How to Avoid This

• Remember that the issuer of your credit card will never ask you to update any personal information through an email.
• If your credit card company is issuing out new EMV credit cards, they will do so without any action needed from you as the cardholder.
• If you're wondering when your new card will arrive in the mail, contact the customer service team of your credit card directly. You should find their number on the back of your existing credit card.
• Make a habit out of not clicking on links in emails, even if they look legitimate. Visit your credit card company directly by visiting their website instead.

Interest Rate Reduction Scam

This scam takes advantage of credit cards users who are frustrated at the rate of their credit card interest and want to cut these rates so that they can pay off their balance quicker.

The scam begins by calling you with a pre-recorded voice message. This voice message will inform you that you qualify for a program that can help you decrease your interest rate and pay off your credit card sooner.

All you have to do is pay the required fee, enroll in the program and the company will do the work on your behalf to have your interest rate lowered.

The call may sound like it’s from the company of your credit card, and it may imply that they have your credit card information on file.

As you may have guessed, the scammer will charge your credit card for these services – however, they won’t lower your interest rate. Even if you decline to receive their services, they may charge your card anyway.

How to Avoid This

• Add your number to the National Do Not Call Registry. This will lower the chances of you receiving a call like this. You can add your name and number to this registry by calling 1-888-382-1222.
• If you receive a call with a pre-recorded message that’s similar to the one we’ve described, hang up the phone immediately without saying anything. If you talk to a human on the other end, this may lead to you receiving more calls.
• Do not give out any personal information on a phone call that wasn't initiated by you. Scammers have often received most of your personal information, but not all of it. This phone call intends to get the last piece of the puzzle, which could be your PIN or security code.
• If you think you qualify for a lower interest rate, you can usually get one free of charge by merely asking your credit card company for one.

Possible Fraud on Your Account

Your credit card company may warn you from time to time about fraud on your account to protect you from future charges that are fraudulent. Unfortunately, scammers often use this exact type of phone call to commit the fraud.

You will receive a phone call from someone who claims to be from the fraud department of your credit card issuer. They say that they have observed suspicious activity on your account and need you to verify some personal information for them in order to determine whether your account has been compromised as a result.

Like we mentioned above, scammers may already have some of your personal information, and they'll use this to try and convince you that they're from your credit card company. The primary purpose of their phone call is to get the rest of the information out of you, which is often the security code on the back of your card.

How to Avoid This

• Your credit card issuer may actually call you like this if they believe they’ve detected fraudulent activity on your account. However, rather than give out any personal information over the phone, hang up and call the number that’s on the back of your credit card instead.
• Remember, don’t give out any personal information on any phone call that wasn’t initiated by you.
• Try to monitor your account activity consistently – either online or through an app on your smartphone. This means that you'll be up to date and aware of your account activity. Report any unauthorized charges to the credit card company immediately. If you feel that your account has been compromised, you can always be issued a new credit card.

Fake Hotel Front Desk Calls

While a hotel may be one of the last places you’d expect to be scammed by, you have to always be on guard – especially when you’re on vacation.

The scammer will phone your hotel room in late at night or even in the middle of the night, claiming to be someone from the hotel front desk. The caller will say that there’s been a technical issue with the hotel’s computer systems and they need you to provide them your credit card information again.

If you share these personal details over the phone, the scammer can then use them to make fraudulent charges on your account.

How to Avoid This

• Don’t give out any personal information, especially your credit card details, over the phone. This is because there is no way to safely verify the legitimacy of the caller.
• Walk down to the front desk and inquire whether there was a genuine request for your credit card information. If you’re unable to go down to the front desk immediately, try calling them and asking them the same thing.

Free Wi-Fi Scam

When you’re out and about and don’t want to use your data, you may look for free Wi-Fi hotspots. However, this may not always be a safe and secure network.

Scammers will set up a free Wi-Fi area that doesn’t require you to enter a password. Once you’re connected to the network, the scammer has access to anything you send while you’re on the network.

This means that if you log into your bank account or check your credit card balance, the scammer can quickly get your username and password. If you buy something on your phone, the scammer can copy all of your credit card information right then and there. Sometimes, they may even be able to access information that's in your browser history.

How to Avoid This

• Be cautious when using free Wi-Fi hotspots, especially if you’re in a location that usually charges for Wi-Fi. Even if a place you’re visiting offers you free Wi-Fi, try to confirm with an employee before connecting.
• Be wary of any information you’re sending over the network when connected to a Wi-Fi hotspot. Even if you feel that you're connected to the right network, scammers can also connect to the same network and siphon personal information.

Credit Card Skimming

It’s hard not to become complacent about swiping our credit cards and handing them over to a cashier when we purchase something. However, there is always the risk that your information is being stolen while you swipe for services or goods.

Credit card skimming occurs when the scammer gleams your credit card information off of a legitimate transaction. They may place a skimming device on top of a regular credit card processing system.

ATMs and gas stations are popular choices for scammers looking to place a skimming device. In more recent times, scammers have been putting these devices over credit card readers in self-checkout lanes at supermarkets and large retailers.

Sometimes, waitresses and cashiers have been recruited to be part of this skimming scam. They will swipe your credit card through a skimming device that’s handheld when you’re not aware.

Once your credit card information has been stolen, scammers will use it to make fraudulent purchases on your account and even create fake credit cards.

How to Avoid This

• Try to be vigilant when using credit card readers at ATMs and gas stations. Always check them before you use your card. Avoid using a credit card reader if you think it looks tampered with.
• Cover your hand when putting in your pin. Scammers may also place a camera near their skimming device to obtain this information as well.
• Remember to always monitor your debit and credit card accounts constantly. If you pick up on any suspicious activity, contact your credit card company immediately.

Things are getting pretty precarious in the stock market. There are some worrying statistics that should make you think twice about what you're investing in as the new year approaches.

One of these is that stocks haven’t recorded a 20% drop since the beginning of 2009 – which was the beginning of the long-winded recovery from the Great Recession.

With this in mind, it's important to remember that nothing lasts forever. Despite the fact that there are no obvious indications of a bear market, there are a number of individual stocks that could be in trouble.

Let’s take a look at five stocks that show signs of trouble in the coming months.

3D Systems

3D Systems is a company that does everything to do with 3D printing, from the engineering side of things to manufacturing and selling. The company stock has had a volatile run recently, crashing 12% back in July. Nevertheless, the second-quarter results in August brought it back up a bit.

However, analysts are still concerned about the future of these stocks. The current sell rating is at a price target of $14, which is a decrease of 22% from current levels. Some analysts predict it to be as low as $9, which almost halves the value of the stocks.

The trouble with a company like 3D Systems is that its competition is intensifying. This means that the company will continue to have issues around delivering organic system growth. This is because other companies like HP, Carbon, and GE are aiming directly at their most significant revenue contributors.

This means that if 3D Systems want to stay in the game, they’ll need to increase their spending on direct sales, consulting and customer support. The company also needs to be innovative when it comes to new products if they want to stay ahead. Analysts see continued struggles ahead for this company.

Bed Bath & Beyond

Even giants can fall, and Bed Bath & Beyond is an excellent example of this.
The American home furnishings chain is trading at lows that were last seen all the way back in 2000. Their prices have crashed by as much as 75% in the last five years, and their stock is off 17%.

The sell rating of BBB stock is at a price target of $16. This is a downside potential of almost 12%.

With low levels of profit visibility and margin for the coming months, BBB will have to look at considerable reinvestment if they want to stay afloat. They are putting efforts into increasing the level of transparency between corporate and customer, as well as giving their management team a revamp.

The most pessimistic prediction for BBB is that they are struggling to close the gap with rival Amazon. A significant price discrepancy between these two corporations may result in weak fundamentals for the foreseeable future.

Public Storage

Self-storage company Public Storage may have a nasty surprise in store for investors in the coming months. Analysts have downgraded this company to a sell rating this year, and while their shares have over-performed in the recent past, they now appear to be overextended.

Analysts are currently advising people to sell their shares, and salvage what they can. A $194 price target indicates that Public Storages shares could drop by as much as 10%. Analysts believe that this shows that Public Storage is now under pressure from factors like softer demand and lower take rates.

While Public Storage does remain a dominant player in the storage industry, some of their valuation premium is dissipating near-term. This will continue until growth either recovers or stabilizes. Public Storage has received only one buy rating from analysts over the past three months, while it has also received three sells and three holds.

Ralph Lauren

Analysts have continually downgraded Ralph Lauren since the beginning of 2018. The sell rating has been at a $117 price target, which will result in a fall of 14% in stock price.

Because Ralph Lauren is a part of the fashion outlet industry, their turnaround from current predictions will be tough to execute. The outlet business should continue to place emphasis on full-price sell-through until they're capable of launching a different product by channel. However, there is always a risk that this product may not be different enough.

Ralph Lauren has recently become stale as a brand, especially when compared to peers and competitors. They are experiencing heavy outlet sales at levels that are significantly marked down, bringing the profit margin too close for comfort.

However, analysts believe that management recognizes this as an issue and have their efforts focused on modernizing the brand to re-engage customers.

With RL's stocks being in ‘show me' mode, they've got a long way to go. Only two analysts have expressed anything close to optimism, compared against four sells and four hold calls.

Snap Inc.

As we know, nothing lasts forever, and no-one is immune to vulnerable stock – even if you're primarily online.

A prominent analyst recently looked at Snap Inc. and predicted a sell rating with a price target of just $9, which is particularly depressing if stocks plummet a further 26% as anticipated.

Even a lift in the second quarter failed to make the analysts feel any better about this company and the future of its stocks. While they showed a growth of 44% in August, domestic growth was disheartening, slumping to 20% from 32%.

There are a number of company risks that don't make Snap Inc. a particularly appealing investment. There is aggressive competition from much larger companies, and the senior management team currently lack the experience to navigate the company through such trying times.

Snap Inc. shares received a surprising three buy ratings over the past month alone. However, this was quickly dwarfed by ten holds and five sells. The outlook isn’t good.

Final Thoughts

It’s all very well knowing which stocks to shack up with as 2019 approaches. However, you can’t take the good without the bad. Knowing which stocks to look out for may be just as important as knowing which ones to take on.

Don’t jump into the new year and start investing without taking time to do your research. You can start by avoiding these five stocks as predictions indicate that they aren’t poised for a very good year ahead.