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Costco credit card swiping strategy | In addition to Citi Costco, they are more worthwhile

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Costco credit card swiping strategy | In addition to Citi Costco, they are more worthwhile

The once mythical combination of Costco x Amex Express card finally broke up in 2016 and fell to the altar. It is good news that Costco quickly fell into the arms of Visa and opened a new chapter of Costco Anywhere Visa® Card by Citi with Citi. Membership cardholders are cheering that my Visa card is finally ready to use. Of course, in addition to Citi, other credit cards are necessary for shopping with Costco. Although you may not have these credit cards, you must know! Today, AJ will give you a look at these credit cards.

Costco membership card

The following are Costco membership prices. The first two are individual members, and the last two are commercial members. We mainly talk about the difference between white cards, black cards, and commercial cards. Black card members have 2% cashback on their purchases, which will be returned once a year. The cashback check will be mailed to you in the 11th month of opening the card. If you can spend more than $3000 a year at Costco, you are suitable for a black card. AJ For a family of three, the annual return for daily grocery shopping and daily necessities is $70+, so if you need to buy large household appliances, items, or many family members, the black card is still very suitable. For commercial cards, if it is a For resale product, it is tax-free, and you need to fill in a form and other procedures to go through it.

Tips: Refueling, travel products, tobacco, etc. do not receive 2% cashback.

delete Link Notes

 The picture comes from @costco.com, the copyright belongs to the original author 

Now Costco has discounts for membership cards, don’t miss it if you want to apply for a card~

Costco Anywhere Visa® Card by Citi

delete Link Notes

 The picture comes from @citi.com, the copyright belongs to the original author 

annual fee

None (annual Costco membership fee is required)

sign-up bonus

none

consumption requirements

none

delete Link Notes

 The picture comes from @citi.com, the copyright belongs to the original author 

Credit card benefits

Fuel Cash Back: 4% cashback, up to a $7000 annual limit, then 1%, covering the world, including Costco, and 1% for some substandard fuel

Restaurants + Travel: 3% cashback, worldwide

Costco and Costco.com: 2% cashback

All other purchases: 1% cashback

The method of return is to email or mail Costco’s credit card reward certificate in February every year. You can withdraw or spend at Costco. You need to pay attention to the validity period.

delete Link Notes

 Image from @citi.com, copyright belongs to the original author 

Extended Warranty: Extends the manufacturer’s warranty (Warranty)

Damage Theft Protection: Damage and theft may be repaired or refunded within 120 days of purchase (90 days in New York)

Citi application rules

  • 1/8: Only one card can be applied for within 8 days
  • 2/65: Only two cards can be applied for within 65 days
  • 1/90: Only one business card can be applied for within 90 days
  • Commercial cards also need to be counted in the 1/8 and 2/65 rules
  • 6 hard pulls or less in 6 months
  • If the above rules are violated, the basic cup

Advantages and disadvantages

Advantage

Costco’s black card users can get 4% on gas and 4% on shopping with this credit card, plus there is no annual fee, so Costco regulars can still get one.

Just looking at the cashback ratio is still wrong. The 4% gas rebate and the 3% restaurant and travel rebate are very good.

No foreign transaction fee (FTF – Foreign Transaction Fee)

Shortcoming

You must be a Costco member to apply

And lack of sign-up motivation without a sign-up bonus

The annual cashback waiting time is too long

Citi card approval is also more strict, the credit score is not high enough, the time is short and the capacity is rejected, so the novice should consider carefully, otherwise it is not cost-effective to waste a hard pull.

Chase Freedom (CF)

A brief introduction to the Chase Ultimate Rewards point system, referred to as UR, is the point system of Chase Bank. Chase currently has 28 UR point credit cards, and the points between cards can be transferred to each other. UR points can be directly redeemed, or redeemed for hotels, air tickets, and other mid-to-high-end credit cards with a chase that can maximize the value of the points.

Annual fee

none

sign-up bonus

$200 (actually for 20K UR points)

  • You can only get one sign-up bonus within 24 months

consumption requirements

Spend $500 or more within three months of opening the card to get the rebate of the sign-up bonus

credit card cashback

Different 5X rebates every quarter (activation required)

The 5X rebate is only $1500 per quarter, and the excess is a 1X rebate

delete Link Notes

 Image from @creditcards.chase.com, copyright belongs to the original author 

Chase Application Rules

5/24: If you open 5 or more new credit card accounts within 24 months, no matter whether you are a chaser or not, you will be rejected. Therefore, it is recommended that if you have a chase credit card you want to apply for, you should apply first. Otherwise, if you are stuck by the 5/24 rule, you will not be able to apply for a Chase home for a long time.

It is recommended that the credit length of more than half a year is relatively safe 

Advantages and disadvantages

advantage

Novice card, highly recommended, Chase’s credit card is very good in terms of benefits, after-sales, and user experience, and the threshold for low-end cards with no annual fee is relatively low.

The sign-up bonus of $200 is the highest in recent years, usually $150.

The 5X of each quarter is usually gas, restaurants, supermarkets, department stores, Wholesale, etc., remember to activate it to get it.

The quarterly 5X rebate + Costco’s 2% rebate can reach the peak of 7%. All in all, this card is still worth playing.

If Wholesale’s 5X cashback cannot be used up in the current quarter, it is recommended to go to a Costco store to buy a Costco gift card and use up the $1500 limit to get a 5% cashback, but it must be purchased in a physical store.

Shortcoming

The 5X rebate per quarter is only $1500

Usually wholesale has only one quarter per year, and the amount of $1500 is not enough for many people

Charge overseas fees

Chase Freedom Unlimited (CFU) 

It is a sister card with the CF above, I think that you can choose one of the two.

Annual fee

No annual fee

sign-up bonus

$200 UR credits

consumption requirements

Spend $500 or more within three months of opening the card to get the rebate of the sign-up bonus

credit card benefits

1.5X rebate on all purchases, no upper limit

delete Link Notes

 Image from @creditcards.chase.com, copyright belongs to the original author 

application advice

The application rules are the same as CF, you can refer to the previous article

Advantage

The point is that there is no limit and no-limit, which is much better than CF’s weak $1500 limit per quarter. If the consumption amount is high enough, this card is still worth buying.

The sign-up bonus of $200 is the highest in recent years, usually $150.

With the 2% cashback of the Costco black card, you can achieve a 3.5% return.

Shortcoming

If Chase’s card is only going to accept this one, if the score cannot be used to the maximum, this card is a little mediocre. But if you decide to use it with Chase’s mid-to-high-end cards, it will be better.

If the CF purchase reaches 50% of the 5X reward, the CFU needs to spend $10,000 to be equal. Everyone has to decide which card to apply for according to their consumption level.

Charge overseas fees

delete Link Notes

 Image from @creditcards.chase.com, copyright belongs to the original author 

Discover it Cash Back

Let me introduce you to a novice card. I highly recommend the first card after getting the SSN. Like chase freedom, the quarterly 5% cashback, and the first year’s double cashback policy can reach 10% cashback. . Although Costco does not accept Discover credit cards, you can purchase Costco gift cards on costco.com. If there is a quarterly 5% Wholesale, don’t miss it. In addition, those who do not have a membership card can also purchase gift cards through Costco.com. Those who hold a gift card do not need a membership card to spend at Costco, but there is an additional 5% fee for spending on Costco.com without a member. , but it is more suitable for some people who only buy and consume occasionally.

delete Link Notes

 Image from @discover.com, copyright belongs to the original author 

Annual fee

No annual fee

Sign-up bonus

$75

Double cashback in the first year, unlimited

Consumption requirements

And use the credit card to complete the first purchase on amazon.com within three months

Credit card benefits

Different 5% cashback every quarter (requires activation)

The 5% cashback limit is only $1500 per quarter, and the excess is calculated as 1%

The first year’s cashback is doubled, with no upper limit. At the end of the first year of using the credit card, the cashback for the whole year will be returned. For example, the cashback obtained in the first year is $100. At the end of this calendar year, $100 will be returned for double cashback.

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Recommended Personal Budget Ratio

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Recommended Personal Budget Ratio

A personal budget is key to keeping track of your money. It’s important to keep track of not only what’s coming in, but also what’s being spent and where it’s being spent. Knowing the percentage of your income allocated to spending, investing, and saving is important for turning your budget into a planning tool instead of a static report. Ratio guidelines may vary depending on what you want your budget to focus on – for example, getting out of debt or delivering maximum savings – but the ratios here provide a starting point towards your specific goals.

Determine Your Income

The income calculation is a starting point, as all ratios are driven from this total. Be sure to include all sources of income received in the household. This can include salaries, commissions, bonuses, investment income, rental income, consulting income, and other sources of income that contribute to your budget. Items that vary monthly, such as commissions and bonuses, may be averaged over time; that average should be used in calculating your total income.

Each expense or savings category will then be divided by your total income to come up with your ratio. Ratio guidelines vary slightly depending on your source, but those listed throughout this article have been compiled from sources such as CNN Money, Dave Ramsey, and Forbes.com, and are intended to be a good starting point.

Start With Housing Costs

Housing costs include items such as a mortgage or rent, home or tenant insurance, property taxes, and additional amounts for smaller home repairs and improvements. The utilities in this section include bills for electricity, gas, water, telephone, and garbage collection. Your rent or mortgage payments should be no more than 20 to 25 percent of your income. When adding up other expenses in this category, your ratio to the total should be 30 to 40 percent of your income.

Combined Transportation Costs

Costs in the transportation category include payments for vehicles, gas, insurance, taxes, and additional amounts for repairs and maintenance. If you live in a big city and use public transportation, or have to pay tolls or park at your workplace, these fees should be included as well. This category is no more than 15 to 25 percent of your income.

General Cost of Living Pictures

The cost of living includes many things. It’s also one of those categories that can expose problem areas in your budget, while also highlighting areas for improvement where additional savings can be found. Examples of items that fall into this category are medical and dental expenses (if not deducted from your paycheck), child care, camp or after-school care for children, groceries, entertainment, dining out, clothing and vacations. Also includes small items like dry cleaning, magazine subscriptions, and club memberships. This category should account for 20 to 25 percent of your income.

Add Debit Payment

This category includes additional items that require you to make payments each month. Examples include credit card payments, store credit cards, student loan payments, and home equity line payments. Debt payments should not be more than 5 to 10 percent of your income.

Include Savings Goals

Savings is the most overlooked part of a personal budget, but it’s also one that shouldn’t be overlooked. Savings starts with building a rainy day fund of at least six months of income to protect against unexpected events such as job loss. The higher your income, the bigger this fund. This is the priority of your savings plan. Once your rainy day fund is established, you can then apply your savings to special projects or retirement investments. Savings within 10 to 15 percent of the income range should be considered a minimum.

Review Your Budget

Once you’re sure you’ve accounted for all expenses, review your ratio. The more detail you include in your budget, the more accurate your ratios will be, and the more useful this powerful budget tool will be.

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How to Properly Cancel a Check

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How to Properly Cancel a Check

Many people have good reasons to cancel their checks. They may wish to void a misspelled check. Sometimes people accidentally write the wrong amount on a check, so the check needs to be voided. Sometimes, voided checks are required to set up direct deposit, or even electronic bill payments may be required. It’s not difficult to cancel a check. Of course, be sure to invalidate your check to prevent anyone from fraudulently using your check. To learn how to properly cancel a check, it’s important to keep the following tips in mind.

Avoid dominating property

If you want to clear checks that are still held by you, you will need a pen. You should avoid pencils as this removes the lead. Pen ink is permanent. The key is to use a writing instrument, which uses indelible ink. Those who are fraudulent can easily erase your “invalid” flag and write themselves a check.

Write the word “Void”

You will need to write “VOID” on the check that is usually paid to the recipient. Anyone who sees “VOID” on the payee line of a check will understand that your check is legally voided, even if the amount listed or the check happens to be signed, it’s a piece of useless paper, avoid The check is no longer viable or usable, and the amount is written cannot be cashed or used to pay the bill.

Add “VOID” to the payment box

Even if you’ve written an amount in the payment box, write “NOT” on it in dark ink. Blanking the main part of your check ensures that your check is used as little fraudulently as possible. Make sure you write the words as clearly as possible to avoid “VOID” errors.

Don’t skip the signature box

Yes, you should most definitely enter “VOID” again on the line you would normally sign on a check. Even if you have signed the check, be sure to write “VOID” above your signature in dark permanent ink. Many people are surprised that identity thieves can steal your money. Writing blanks in every major part of a check reduces the likelihood that someone will use it for fraud and use it to steal your money.

Both sides of the check are invalid

To prevent someone from finding an uncashed check and using it for nefarious purposes, you can also write “VOID” in capital letters on the front and back of the check. Some people just take the step of capitalizing blanks on the front of the check. However, there is also added security to write blanks in multiple places on the check to invalidate it.

keep a record

Naturally, you should keep a record of all voided checks. This is easy to do if you keep a paper record of your checks, but you can also do so on an online bank account. It also helps to add a quick note on why you canceled the check. You may have written the wrong amount. You may have written your check to the wrong payee.

decline direct deposit

For example, many times you may be asked to provide an invalid check if you are signing up for direct deposit into your account from your employer. Employers can keep checks to obtain a copy of the bank’s transfer number and checking account number. The payer needs this information to transfer funds to your account.

How to Cancel Checking Direct Deposit

If you leave a check for a vacancy with your employer, follow all the steps listed earlier in this list. Make sure every major section you check contains the word “VOID”. Rather than using any non-descriptive pen ink, consider using a Sharpie or writing instrument to make it clear that it’s permanent ink. This way, if your check is lost, it cannot be changed.

Void Online

You can also cancel checks online if desired. Today, most online banks allow their customers to use a quick “stop payment order” to void online checks. Typically, you will need to log into your online checking account. You may need to visit the Customer Service section to find out how your particular bank has set up this feature. If you’re in trouble, you can always contact your bank and they can walk you through the process of stopping your payment, which essentially voids your check.

Double-check the information

If you do need to stop paying but are not sure if the online payment is correct, call your bank. However, make sure you have all the relevant information handy so bank staff can help you with the process. You will need the date of the check, the check number, and what the check is for. With these tips in mind, you can successfully and safely cancel checks.

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Do you need life insurance once you retire?

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What Is coverage in insurance

Life insurance does not have to be exclusive to young people. It can also help retired people.

Times have changed, before it was taken for granted that by the time parents reached a certain age, their children were already independent and parents would not have any type of outstanding loan.

Now, the crisis has meant that many children have to continue living with their parents and that they still have mortgages in progress.

In addition, life expectancy has increased. Men live an average of 78 years, and women 84. In Spain, according to a fairly recent study, there are more than 8,500,000 people over 65 years of age.

Naturally, insurers have had to learn to adapt to these changes and offer their life insurance to seniors and retirees as well. The requirement to be able to hire him is based on the fact that they will have to carry out medical check-ups so that the company can determine the risk. Clearly, the cost that the fees will entail will not be as cheap as for a person who is much younger.

life insurance

Life insurance is a policy in which the person who is insured protects their relatives, always depending on the coverage contracted and the amount of the premium paid and protects them in two cases:

  • If the insured person dies, some eye med insurances usually advance an amount of money, destined to cover the expenses of the burial.
  • If the insured person were to suffer an accident and survive, but the income of the dependent relatives is reduced in some way, the insurer will pay the established compensation.

Hiring life insurance as a retiree can be a really interesting offer that we should all consider since we never know what can happen to us, and above all for two fundamental reasons:

  • Economic peace of mind for the person who is insured and also for their loved ones.
  • Protection against any unforeseen event or accident that we may suffer.

The main coverage offered by this type of insurance is the payment of the stipulated capital in the event of death. However, there are many other options that you should know and take into account, such as:

  • Repatriation. If we die outside of our city, the company will bear the expenses generated by the transfer.
  • Disability due to a traffic accident. If the disability is caused by a traffic accident, the policyholder will receive an additional amount to the one he contracted in the policy.
  • Death due to a traffic accident. The beneficiaries will obtain additional money for the amount of the insurance itself.
  • Death of policyholder and spouse in an accident. The successful bidder or the children will receive an amount equal to that stipulated in the insurance for death in another situation.
  • Psychological counseling. If the insured dies, their first-degree relatives may receive assistance from this professional.

It is true that both life insurance and funeral insurance are responsible for facilitating the situation for family members when the insured person dies. However, the purposes are different.

The first is in charge of financially compensating the beneficiaries so that life changes as little as possible, at least in economic terms. In addition, if the insured person does not die, it is he who receives the compensation, in case of disability.

On the other hand, funeral insurance deals with paying the expenses of the burial and its procedures.

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