Is it possible to hold an annual fee credit card and still pay no annual fee?

Annual Fee Credit Cards

Is it possible to hold an annual fee credit card and still pay no annual fee? I am not talking about a no annual fee credit card. I am talking about credit cards with attached annual fees. Let me answer the question now. Yes, it is possible to have an annual fee credit card and pay no annual fee whatsoever.

I am not just saying this because I know it. I am saying this because I actually do it. I have an Aeroplan Credit Card which comes with an annual fee and so far I have managed to pay no fee year after year. How I do that? Follow these tips to start enjoying an annual fee credit card without paying any fess:

You have to have lots of transactions on your card. Your credit card company will not waive an annual fee on a card which has no or a few transactions. The more transactions you have, the better it is. Instead of using many cards, use only one. A few hundred dollars annual expenses may not be enough but a few thousand dollars will be enough for your card company to waive your annual fee.

Keep an eye on your monthly statements. Once you see an annual fee charge on your statement, call your credit card company and ask that you would like this annual fee charge to be reversed or you won’t be able to keep your account.

Do not expect the customer service associate to say yes right away. They are trained to hook people into a fee paying card. Once you tell them that you don’t want to pay any annual fee and would like to cancel your account, they will give you many reasons to keep your existing card or switch into another annual fee bearing card. Let me give you some examples to give you an idea of what you can expect to hear from your customer service associate -

If you cancel your account, you will lose all your credit records involving this credit card.

I can switch you to a different credit card with a lower fee.

Do not be intimidated by what you hear. Be firm and stick to your point, you will get what you want. One point worth mentioning here is that this article applies only to those who pay credit card balance in full every month. If you carry a balance and not able to pay your balance in full, there is no point calling your card company as you have no cards in your hand to play.

First Published: Aug 23, 2007

Being Your Own Boss Is Easier Than Ever

Taking Your Employment into Your Own Hands

In tough economic times, you may want to find ways to secure your employment and secure your paycheck. There are many ways to do this, and pretty much none of them involve working for someone else. In the 21st century, more and more people are beginning to learn that working for someone else is not the way to go. When you work for someone else, you are putting your life in their hands and as has been seen with corporations over and over, shareholders are more important than employees. Why show loyalty for a company that may fire you to save money? In addition, if you work very hard you might get promoted but the chances are you will not. The harder you work, the same you will get paid. Why should those above you benefit from the work you do?

This is why being an entrepreneur is such a great idea. When you are in charge of your own life and you are in charge of your own career, you get several benefits. First, as an entrepreneur, you can work in an industry that you love. If you like doing yard work, start a yard work company. If you love graphic design, then begin doing graphic design from home. All of this can easily be done through being the owner of your own business. The other big benefit of being your own boss is that when the company does well, you do well. If you work hard and make an extra $50,000 for the company, then that entire $50,000 goes to you. If you have employees, you can treat them the way you wanted to be treated when you were an employee. Being your own boss puts the power in your hands and it can be one of the most satisfying things in your life.

These days, being your own boss is easier than ever. In the past, when you owned a business in your area, your customer base was only the people who could get to your store. This would greatly limit the potential for your company. However, with the creation of the internet, your customer base goes from a few hundred to a few million thanks to the ability to make money online with an internet business. Whether it is selling services online, or just selling products, the sky is the limit when you are working for yourself from your home with a business that you have online.

Another great thing that the internet does for you is it allows is it provides you with the resources of individuals who have been their own boss for years. These resources can teach you how to be a boss and how to make your business successful. Websites like EntrepreneurJourney.com help you by giving you the ability to be successful with your online business. Whether you are delving into e-commerce by selling products online, marketing yourself through social media marketing, or just doing some freelance writing, being your own boss is something you will come to love, especially when you are making a good living at it.

First Published: Feb 28, 2010

What Is IHG Points Break?

Photo Courtesy: IHG.com

How to Travel Cheap Using IHG Points Break

IHG (InterContinental Hotels Group) Rewards Club is the loyalty program of hotels such as InterContinental, Crowne Plaza, Hotel Indigo, Holiday Inn, Holiday Inn Express, Candlewood Suites, and Staybridge Suites. IHG has over 5000 hotels across the globe.

Usually it costs to stay 10,000 to 60,000 points per night. However, IHG runs a promotion every three months (called IHG Points Break) that lets members to stay in hotels for 5000 points only. About 170 IHG hotels participate in this program.

A participating hotel can be booked for a maximum of two stays/reservations for unlimited nights. For example, you can book 2 rooms in the same hotel or book 2 different dates to stay as many nights as you want (if it’s available) and they will be considered 2 reservations. However, that same hotel cannot have more than two reservations/bookings. You can view the list of hotels under points break here.

There are several ways you can accumulate IHG points. I will not go into detail on all of the possible ways to accumulate IHG points in this article. You can find out easily by searching online. My favourite way to earn IHG points is to buy them when they are on sale. At the regular rate, 5000 IHG points cost $67.50 US. However, IHG runs points sales often with 100% bonus points, making it 5000 points for around $34. This means that you are staying at a hotel for $34 per night.

If you act right away when IHG announces their next segment points break, you maybe able to get a hold of an expensive hotel for 5000 each night. The steep discount sometimes can be as high as 90%. To make the most out of IHG points or their points break, learn the ins and outs of the IHG Rewards Program and here is a good article to get you started: The Complete Guide to IHG Rewards

How to Handle Tangerine Money-Back Credit Card Negative Changes

Tangerine Credit Card Cuts Its Cash Back Rewards

If you have a Tangerine credit card that offers cash back rewards, the good old days of getting excellent rewards with no fee are over. Starting April 29, 2017, Tangerine will slap on a few negative changes that will make its popular no- fee credit card less desirable.

There will be several negative changes. However, today I will only mention those that I feel will have the most impact on day-to-day uses of this credit card.

The Tangerine Money-Back credit card earns 2 percent on 2 selected categories (actually there can be 3 categories if you choose to deposit your cash bank in a Tangerine Savings account) and 1 percent on everything else. This 1 percent on everything is where it’s getting axed by Tangerine to a reduced 0.5 percent return. Another popular feature this card used to have is a 1.5 percent foreign transaction fee instead of the 2.5 percent that most other Canadian credit cards charge. Tangerine is axing this as well to a 2.5 percent foreign transaction fee.

A point worth mentioning is that there are credit cards in Canada that do not charnge a foreign transaction fee. I talked about these cards here in my YouTube video here: Credit Cards That Save You Foreign Transaction Fee

What you can do if you are already a Tangerine cardholder is keep using your Tangerine Money-Back credit for those selected 2 or 3 categories where it still returns 2 percent and switch to other credit cards that offer a better rate than 1/2 percent on everything else. The BMO Cash Back MasterCard and Simply Cash from American Express are two such cards that offer a flat 1 percent and 1.25 percent returns on everything across the board. The Rogers Platinum MasterCard also offers a flat 1.75 percent on everything, but there is a $29 annual fee if you are not a Rogers customer.

I have a video on cash back credit cards as well. There are many other free and annual fee cash back credit cards available. Research online to find the card that best suits your needs. My site www.AhmedDawn.com and YouTube channel www.YouTube.com/ADawn provide lots of information on credit cards that will help you find your credit cards. And unlike most other sites, my opinions are unbiased because I do not accept money or provide affiliated links to make money from credit card companies.

Beware Of No Name ATMs

ABM Scams & Tips

Canadians carry roughly 35 million debit cards and its no wonder scam artists are coming up with innovative technics to tamper ATM machines. ATM thefts are on the rise at an alarming rate. What can you do about it? My number one recommendation - Be extremely cautious using a No Name ATM machine.

What do I mean by No Name ATM? These are the machines not operated by well-known financial institutions such as TD, CIBC etc. Sometimes these are called White Label machines or Stand-Alone ATMs. No Name machines are privately owned and operated. You will see No Name machines in next-door grocery stores, bars, casinos, malls ... virtually everywhere. Follow these tips to protect yourself from scam artists:

• No Name ATM can cost you somewhere between $2 to $5 service fees, in addition to your own bank fess. Do you really need cash that desperately at this moment? How about walking a couple of blocks to withdraw from your own bank's ATM?

• Scam artists use hidden cameras, scanning devices, peep holes, card readers to copy your P. I. N. and card info to produce clones(same as yours). Later on, scammers will use those clone cards to purchase or simply they will empty out your bank accounts.

• Cover you key pad so the person behind you can't see your key-punch. Covering key pad will also prevent hidden cameras taking your key-punch shots from the top or from the side.

• If you notice anything unusual or suspicious, refrain from using the ATM. Examples of unusual or suspicious things are: slot does not feel right when you insert card, visible attachments to the slot or to anywhere on ATM, unusual messages on the screen or on anywhere on ATM, messages asking to use one particular ATMs, individuals standing nearby posing as technicians or customers.

• You should not have to force your card into the slot. If your card gets stuck in an ATM, call your bank immediately

It's a good idea to use ATMs which you are already familiar with. Pick a well-lit ATM in a good neighbourhood.  If you findanything suspicious(either individuals or anything your are not comfortable with), do not use the ATM and leave that place. Always take precautions and be vigilant when using an ATM. Be always safe.

First Published: Aug 10, 2007 ADawnJournal.com