Archive for December, 2010

Chase Freedom Credit card – $100 bonus cash back and $0 APR

December 14th, 2010 Vijaianand

I recently signed up for Chase Freedom Credit card offered by J P Morgan chase and also got 10000 points by using them to buy anything and everything. I use to use DCU visa card for all my day-to-day transaction but they stopped offering reward points since Sept 2010. I was looking for a good card and came across few different offers from Chase, BOA and CITI Bank.

I finally ended up signing up with chase because they are ok compared to my bad experience with BOA and not really great deal with CITIBank. I closed couple of CITIBank cards because they start charging monthly fees and BOA didn’t really have any good offers inspite my bad customer service experience in past which gave me only option to go with chase. Since I have couple of checking accounts with Chase and I thought may be I have some advantage when they decide to charge fees in the future.

So far I actually used the card and gained $150 cash from 15000 points and used to purchase my LCD TV. Many credit cards doesn’t allow you to cash the points but chase does let you cash and even deposit in your chase checking account within 2 business days. That’s cool.

Check out the offer at, https://www.chase.com/online/Credit-Cards/Freedom.htm?CELL=6154&BT=FreedomArt

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DCU Scorecard Rewards going away…

December 14th, 2010 Vijaianand

It has been few months since dcu – Digital Federal Credit Union, one of the oldest and famous credit union in nation annouced to close the scorecard reward points to all their credit card members. Starting Sep 2010, there will be no reward points to any of the purchase.

They are also replacing the cards to two types of cards, one ordinary and another one with higher rates which might have option for rewards points. So what they are trying to say, if you are willing to pay higher rates, you might be eligible for rewards. That’s not really good way to earn business. I heard many of my friends started using other cards or sign up for reward cards like Chase Freedom, Bank of America and CITI Bank cards.

Also you only have till Mar 2011 to redeem all the scorecard reward points stored away. You better start planning to use in this holiday time.

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How much insurance do I need?

December 14th, 2010 Vijaianand

There are different ways to determine this number. Many insurance companies use Needs Approach which takes your annual income, your expenses and number of years to accumulate earning into account. They put altogether and come up with figure.

Usually 10-16 times of your annual salary would be most you need for your family to manage when you are gone. It can go up or down depending on the number kids waiting to go to college and so forth. 

Meet with you CFP and talk about it. If you talk to the insurance carrier they will talk you to buy more than what you need. If you don’t have any insurance at this point, I strongly recommend to start considering term life policy which is cheaper and protects your family. Then you can think about Whole life or Universal life which has saving component to save/invest money with insurance for future.

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