How to Do a Balance Transfer with Discover

Transferring high interest debt to a 0% credit card can save a ton of interest. In this guide, we walk through how to do a discover card balance transfer.

There are a number of great reasons to transfer a balance. Perhaps you have a new or existing credit card that is offering you 0% interest for a certain number of months on balance transfers. Maybe you are paying a very high interest rate on a loan or credit card balance, but have the option to transfer it to a lower-rate card account. Either way, you can save yourself a pretty penny in interest — and even pay off the debt faster — with a transfer.

Balance transfers are pretty straightforward with many credit card companies. Luckily, Discover is no exception. Completing a balance transfer request is incredibly easy. It took me less than five minutes (which included finding my wallet to locate my other card’s account number!).

Here’s a step-by-step guide to transferring a balance with Discover to help make the process even easier for you.

1. Log in Online

Whether your Discover account is brand new or years old, you should have an online account set up. If not, go ahead and set up your username and password now. Then, log in to the portal.

On the far right, you’ll see available balance transfer options… Discover doesn’t make you search the website to find what you need! They tell you exactly how much credit you have available for a transfer, from the jump.

Go ahead and click on that Transfer Balances button.

2. Choose Your Offer

Discover is great about giving its cardholders options. They gave me two different balance transfer offers to choose from: One was a 0% interest rate for 12 months (the cheaper option) or a 3.99% option for 18 months (if I needed more time).

You’ll notice that there is a 2% transfer fee for the 0% interest offer, but no transfer fee for the 3.99% interest offer. You’ll need to look at how much you’re transferring and how long it’ll take to pay off the debt before deciding which will be the best option.

While 3.99% isn’t nearly as enticing off the bat as 0% interest, it is still considerably less than a typical credit card rate and it would give you a bit more time to pay off your balance in full. Plus, if you have a high balance to transfer over or plan to pay off the debt over a longer period of time, it may actually save you money over a 0% offer.

So, choose which option is better for you. I went with the first offer, without any interest rate.

3. Review Your Offer

Before you move forward, Discover will give you the opportunity to review the offer you’ve chosen and the fees/interest rates involved. Be sure to double-check this for accuracy!

If you made the wrong choice, go back and try again. If there’s an error in what you see listed or if you have a question, give Discover customer service a call and discuss it with them.

4. Enter the Info for Your Incoming Balance

Now’s the time to enter your incoming account information and the total balance that you want to transfer. If you’re transferring a credit card balance, you can simply enter the account number from the front of your card.

You may also notice that Discover gives you the option to transfer these funds into a checking account. This can then be used to pay off other debts and acts almost like a cash advance (but with a much lower interest rate and fees).

Avoid using it for this purpose if you can avoid it, though. Cash advances are easy ways to dig yourself into greater debt. If you use your “balance transfer” offer as a sort of cash deposit, you may wind up paying even more in interest over time, if you don’t pay it back immediately.

Lastly, you’ll want to be sure that the amounts shown at the bottom match before you submit your request. Ensure that you’re transferring the correct amount, that the quoted transfer fee is showing, and that the right remaining credit balance is displayed. If you have any questions or concerns, give Discover a call.

5. Confirm the Details

Now it’s time to see what you’re actually signing up for with this balance transfer request.

Discover will give you the opportunity to read through their terms and conditions, view/save them in PDF form, and even print them. It would be wise to at least read them thoroughly to ensure that you understand the balance transfer process, if not print them for your records.

Here, you’ll also be given one more opportunity to review the actual terms of the offer. You’ll see the date by which you must complete your transfer in order for the promotion to be valid. You’ll also get a rundown of the fees involved, the interest schedule, and when you’ll start getting charged for it.

6. Click Away

If you’re good to go and agree with everything shown, go ahead and click the Submit Request button. This is also your last opportunity to back out and cancel the request, or make changes to the transfer.

Once your request is received and processed, you’ll receive notification via email, to the address that Discover has on file for you. You’ll also receive an email when the transfer has been successfully completed.

6. Be Responsible

Balance transfers are a wonderful way to pay off debt for less, get out of debt sooner, or just consolidate your accounts. But if not handled properly, they can also get you in hot water.

It important to calculate how much you’ll need to pay down the debt each month. That way you can pay it off it before the promotional period ends. In my case, I chose the 12-month, 0% interest offer.

This means that I have 12 months to completely pay off the entire transferred balance. If I don’t pay it off in time, my interest rate will jump up to 12.99%. Depending on the account you pulled that balance from, this may be more or less than you were already paying. Either way, it’s a lot more than the promotional interest!

Be sure to budget accordingly, pay on time, and avoid that interest when it shoots up at the end of the balance transfer period.

Also make sure that you make your balance transfer payments on time each month. If you are late, Discover reserves the right to revoke your offer, and your interest would jump up to the penalty rate.

Topics: Credit Cards

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Why are Topographic Maps Important for Hiking and Backpacking?

16 Types of Mortgages Explained

Did you know there are many different types of mortgages? We list 16 of the most common mortgage options, along with the pros and cons of each.

When it comes to buying a home, you may think that your only option is a 30-year, fixed rate mortgage. But there are plenty of options out there.

Here’s a basic overview of 16 types of mortgages, some common and some less so.

Fixed Rate Mortgage

Fixed rate mortgages are the most popular option. A set interest rates mean predictable monthly payments. These payments are spread over the length of a term, which ranges from 15 to 30 years, typically. Currently, shorter loan terms are becoming more popular. Back in 2011, USA Today noted that 34 percent of refinancers shortened from a 30-year to a 20-year or 15-year loan.

Generally, the shorter your loan’s term, the lower the interest rate. Lenders take on less risk with a shorter loan term. This means you’ll pay much less interest over the life of a 15-year mortgage versus a 30-year mortgage.

• 30-Year Mortgage: Freddie Mac notes that about 90 percent of home buyers in 2016 chose the typical 30-year, fixed-rate mortgage. The longer term makes payments much more affordable, which can help home buyers get into a more comfortable payment or a more expensive home.
• 20-Year Mortgage: Like the 30-year mortgage, this fixed-rate option offers consistent payments. You just pay off your house sooner. Some consumers like to split the difference between the longer and shorter terms. The 20-year mortgage will typically have a slightly lower interest rate than a 30-year mortgage.
• 15-Year Mortgage: You’d think that payments for a 15-year mortgage would be twice as high as payments for a 30-year. But because 15-year mortgages generally have lower interest rates, this isn’t the case. That’s one reason these shorter-term mortgages are becoming more popular.

Resource – Start comparing mortgage rates with Lenda.

Adjustable Rate (ARM) Mortgage

As you might guess, the interest rate on an adjustable rate mortgage fluctuates. Exactly how the interest rate changes depends largely on the type of loan you get.

In many areas of the world, including Britain and Australia, adjustable rate mortgages are the norm, though they’re much less common in the U.S. If interest rates are going down, ARMs let homeowners take advantage of that without refinancing. If interest rates rise, however, ARMs can result in surprisingly sky-high payments.

• Variable Rate Mortgage: This is just another name for an ARM, but a true variable rate mortgage will have adjusting rates throughout the loan term. Rates normally change to reflect a third party’s index rate, plus the lender’s margin. Mortgage rates will adjust on a set schedule, whether every six months, every year, or on a longer term, and many cap the maximum interest you’ll pay.
• Hybrid ARMs: These adjustable rate mortgages come with an initial fixed rate for a particular period of time. Common hybrids are 3/1, or three years of fixed interest followed by floating interest rates, and 5/1, the same but with a five-year introductory period.
• Option ARM: This type of ARM offers the borrower four monthly payment options to begin with: a set minimum payment, an interest-only payment, a 15-year amortizing payment, or a 30-year amortizing payment. Often, an Option ARM is used to get a borrower a larger loan than he would otherwise qualify for.

Resource: Get a free online mortgage quote from Lenda

Balloon Mortgage

Balloon mortgages typically have a short term, often around 10 years. For most of the mortgage term, a balloon mortgage has a very low payment, sometimes interest only. But at the end of the term, the full balance is due immediately. This can be a risky proposition for most borrowers.

Interest-Only Mortgage

Interest-only mortgages give borrowers an option to pay a much lower monthly payment for a certain time, after which they’ll need to begin paying principal. Balloon mortgages are technically a type of interest-only mortgage. But most interest-only options don’t require a lump sum payment of principal.

Instead, these payments will allow the borrower to pay only interest for a set amount of time. After that, the borrower will need to make up for lost time by paying more principal than they would have had they begun with a traditional fixed rate mortgage. In the long term, interest-only mortgages are more expensive. But they can be a decent option for first-time home buyers or individuals who are starting businesses or careers with only a little money at first.

Reverse Mortgage

This type of mortgage is for seniors only. A reverse mortgage gives homeowners access to their home’s equity in a loan that can be withdrawn in a lump sum, with set monthly payments, or as a revolving line of credit. Homeowners don’t have to make payments, but the lender will have a lien on the home for the amount owed upon the death of the borrower(s).

With a reverse mortgage, you’re find until you have to move out of the house. If you move out, even if it’s before your death, you’ll need to repay the mortgage out of the proceeds of the loan. This can drain the equity many seniors depend on to fund long-term care expenses. In some situations, a reverse mortgage can be a reasonable choice. Just be sure you know what you’re getting into.

Combination Mortgage

Combination mortgages are helpful for avoiding Private Mortgage Insurance (PMI) if you can’t put 20 percent down on a home. Usually, you take out one loan for 80 percent of the home’s value and another for 20 percent of the home’s value. This is an 80/20 combination loan. Usually the first loan has a lower, fixed interest rate. The second loan has a higher rate and/or a variable rate.

This can sometimes be more expensive interest-wise. But do the math. PMI can be expensive, as well. If you can pay off the higher-rate 20 percent equity loan quickly, you may come out better off with a combination mortgage.

Government-Backed Mortgage

In an effort to encourage home-ownership, the federal government offers some loans that are backed by government entities. This means that if a borrower defaults on the loan, the government will cover the lender’s losses. Because of this guarantee, government-backed loans are often an ideal solution for first-time and low-income home buyers.

• FHA Loans: These loans are backed by the Federal Housing Administration and are great for first-time home buyers or those with bad credit. FHA loans can be used for single-family homes, cooperative housing projects, some multifamily homes, and condominiums. The specialized FHA 203(k) loan can also be used to fix up a home in need of significant repairs.
• USDA Loans: The United States Department of Agriculture encourages rural home ownership with specialized, low down payment loans for certain families buying homes in rural areas.
• VA Loans: The Department of Veterans Affairs backs these zero down loans for active duty, reserve, national guard, and veteran members of any branch of the armed forces.
• Indian Home Loan Guarantee: These HUD loans are available to lower-income Native Americans, as well as Native Alaskans and Hawaiians.
• State and Local Programs: If you’re struggling to come up with a down payment or adequate credit score for a home loan, check out state and local government programs. Many programs are geared toward revitalizing areas where many homes are abandoned or in need of repair.

Second Mortgage

If you have a home and have some equity built up in it, you can take out a home equity loan, also known as a second mortgage. This is just another loan secured by the equity in your home. Another option is a home equity line of credit. This is a revolving loan based on the equity in your home.

These loans will typically have a higher interest rate than your first mortgage. But they can be a good option for funding home renovations or other necessary expenses, especially in such a low interest rate environment.

Final Thoughts

The type of mortgage is an important consideration. The good news is you have far more options than many realize. In all cases, focus on the interest rate and fees while you compare rates.

Topics: Mortgages

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3 Things to Know About Before Remodeling Your Bathroom

Content originally published and Shared from http://perfectbath.com

Giving your bathroom a new look for the upcoming new year is a great way to indulge yourself after the busy schedule you’ve had during the holidays. But before you proceed on your plans, here are some pointers to consider:

Image Source: Flickr

Consider how long you won’t be able to use the bathroom
“How long does a bathroom renovation take?” Many people are surprised when they hear that a quality bathroom renovation takes about four weeks. Renovation shows are not reality!

Many people don’t have a spare bathroom they can use while the renovation takes place. If that’s the case for you, plan ahead. Hire a portable toilet or shower from a reputable builder, join a nearby gym (there are often free trials you can take advantage of) or consider renting elsewhere for a month while the job is done. None of these are ideal, but if you’re going to build a bathroom to last 20 to 30 years, that month of inconvenience will quickly be forgotten when you step inside Source: Houzz

Don’t forget to update the fixtures
No renovation is complete without remodeling or repairing fixtures and features, which could very well make a separate checklist themselves: shower, bathtub, toilet, bidet, sink, faucets and shower heads. You should also update or repair your mirrors and shower doors. You can also change the look of your bathroom very easily by changing out door handles, drawer pulls and the hardware for your shower doors. If you have the budget a new set of shower doors can completely change the look of your room. Source: Freshome

Order fixtures ahead of time
Regardless of whether you are buying from a high-street store or a high-end brand, factor in delivery times. Big name manufacturers might take three or four weeks to deliver, while luxury brands can take around eight weeks. Any custom products will take longer so give yourself plenty of wriggle room to avoid having contractors twiddling their thumbs on site. Source: IdealHome

Check out the latest trends in bathroom fixtures when you visit our site today!

 

Contact:
Perfect Bath
Phone: Toll Free 1-866-843-1641
Calgary, Alberta
Email: info@perfectbath.com

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Climbing South Carter in December

The Best Online Personal Loan Rates and Offers

If you need a loan, we’ve put together this list of the best online personal loan rates available today. We include both traditional lending and peer-to-peer options.

Not too long ago there was one option for those needing a personal loan–the local bank. The application process was long and tedious. It was difficult and time consuming to compare rates. And fees were often extremely high.

P2P lending sites and other online financial institutions have changed the way we shop for a personal loan. These sites allow you to build a custom loan without having to go through the often grueling underwriting process for which banks have become infamous. Furthermore, you can usually complete the entire process online. It eliminates uncomfortable and inconvenient face-to-face meetings with loan officers.

In this article we’ll cover five leading online unsecured loan options. For each will look at their interest rates, loan terms, fees, and credit score requirements.

Why Get a Personal Loan

The number one reason consumers get personal loans is to refinance existing debt. Lowering your interest rates is a smart way to reduce your monthly payment and shorten the time it takes to become debt free. For those looking to transfer high interest credit card debt to a 0% card, you’ll find several options here. For those looking to refinance other types of debts, the options below are your best bet.

Beyond refinancing, many seek unsecured loans to consolidate several debts into one convenient loan. This too can be a smart move, although you need to always keep the interest rates and fees in mind. You don’t want to opt for the convenience of a loan consolidation if it’s going to increase your cost of borrowing.

How to Choose the Best Option

As you read through the options below, you can use this guide on how to choose the best option for you:

• Excellent Credit: For those with excellent credit and a good income, SoFi is the best choice. It offers the lowest rates, fixed and variable rate loans, no fees, and protections should you lose your job.
• Good Credit: If you have good credit, Lending Club is a smart option. Their minimum credit score is 660.
• Average Credit: For those with average credit, both Prosper and Upstart may be a good fit.
• Small Business Loans: All of the lenders on this list provide lending to individuals looking to fund a small business. Funding Circle, however, specializes in business loans.

Best Online Personal Loan Options

1. Lending Club

Lending Club is perhaps the best known of all P2P lending platforms and generally gets the highest rating. The platform is virtually synonymous with P2P lending for a reason. The site has made loans worth $22 billion dollars since it started in 2007, with most offering rates and terms better than what you can get at a bank.

The entire application process takes place on the website and is completely anonymous. In fact, investors typically buy “notes,” which are small slivers of many loans, rather than funding an entire loan at once. So many investors, possibly even hundreds, will chip in to help fund your loan.

You can borrow as much as $40,000 at interest rates between 5.99% and 35.89% APR, with terms of between 36 and 60 months. Lending Club has no application fees or prepayment penalties, though you do have to pay an origination fee of between 1% and 6% of your loan amount. Rates are based on a credit grade that the platform assigns you based on your credit score, the loan amount, and other factors.

Lending Club offers debt consolidation, personal loans, medical loans (up to $50,000), Auto Refinancing, or Business Loans. Business loans can be for up to $300,000 at rates as low as 5.90% APR to as high as 32.00% APR and origination fees of between 1% and 6%. To qualify for a business loan, you must be in business for at least two years, have more than $75,000 in annual sales, own at least 20% of the business, have fair or better credit, and no recent bankruptcies or tax liens. Lending Club requires no collateral for loans of less than $100,000, and has no requirement for appraisals, business plans, or business projections.

LendingClub Summary:

• Interest Rates: 5.99% to 35.89% APR
• Loan Amount: $1,000 to $40,000
• Loan Terms: 3 or 5 years
• Fees: 1% to 6%
• Prepayment Penalty: No
• Credit Needed: Minimum Credit Score of 600
• To Get Started: Visit Lending Club

2. Prosper

Prosper is another popular P2P lending platform, so much so that it is often mentioned in conjunction with Lending Club. Prosper launched its P2P platform in 2005, two years before Lending Club. In that time, it has made over $4 billion in loans to more than a quarter million borrowers. Prosper makes loans in all states except Iowa, Maine, and North Dakota.

Loan amounts range from $2,000 to $35,000, with rates between 5.99% and 36.00% APR. Origination fees are between 1% and 5% of the loan amount, and there is no prepayment penalty. Loan terms are either 36 or 60 months. All their loans are fixed rate and self-amortizing. Loans are unsecured and can be used for any purpose.

You create a loan listing on the site, which is a request for a loan from investors. Much like Lending Club, Prosper assigns you a credit rating which forms the basis of the rate you are charged for your loan. Prosper will fix the rate once your loan investors fund your loan and you pass Prosper’s verification process.

Prosper Summary:

• Interest Rates: 5.99% to 36.00% APR
• Loan Amount: $2,000 to $35,000
• Loan Terms: 3 or 5 years
• Fees: 1% to 5%
• Prepayment Penalty: No
• Credit Needed: Minimum Credit Score of 640
• To Get Started: Visit Prosper

3. SoFi

SoFi is an online lending platform that specializes in refinancing and consolidation loans. While it is best know for refinancing student loans, it also offers unsecured personal loans. Founded in 2011, SoFi has made over $4 billion in loans. The loans are funded by both institutional investors and alumni investors. SoFi represents one of the few lending sources dedicated to providing refinancing for both federal and private student loans.

The minimum loan amount is $5,000, and SoFi offers loans up to $100,000. They can be fixed rate or variable, with terms of three, five, or seven years. Loans with fixed rates range from 3.35% to 6.74%. Loans with variable rates range from 2.795% to 6.72%. Even better, SoFi does not charge an application fee, loan origination fees or prepayment penalty fees.

The loan process takes place online. You can scan and send any needed supporting documents through the web platform. You can also send documents through your smartphone.

SoFi also provides Unemployment Protection. SoFi will suspend your loan payments for up to 12 months in the event that you lose your job through no fault of your own. You must have applied for unemployment insurance, and SoFi will provide you with job placement assistance to help you find a new job.

SoFi Summary:

• Interest Rates (Fixed): 3.35% to 6.74% APR
• Interest Rates (Variable): 2.795% to 6.72% APR
• Loan Amount: $5,000 to $100,000
• Loan Terms: 3, 5 or 7 years
• Fees: None
• Prepayment Penalty: No
• Credit Needed: Excellent Credit Required
• To Get Started: Visit SoFi

4. Funding Circle

Funding Circle is an excellent choice if you’re looking for a business loan. They offer business loans for amounts up to $500,000 (the minimum loan amount is $25,000). Funding Circle specifically serves the business loan niche since it is one that is left largely uncovered by traditional banks. The platform has provided loans totaling more than $1 billion to more than 10,000 businesses worldwide since the platform was founded in 2010.

They’re also one of the more relaxed P2P platforms in regard to credit. They’ll accept a credit score as low as 620. However, you must have a minimum of $150,000 in annual sales the previous year and be in business for at least two years. Since it is a business loan site, the application process is more involved than it is for other P2P lenders. Plus, it can take up to 14 days.

Interest rates run between 5.49% and 22.79%, which actually is pretty good as business loans go. However, the platform also charges an origination fee of between 0.99% and 4.99% of the loan amount. Loan terms are anywhere from 12 months to 60 months. All loans are secured with a lien on your business assets and a personal guaranty.

Loan proceeds can be used to expand your business, invest in new equipment, or increase staff for marketing campaigns. Since Funding Circle provides large business loans the documentation requirements are more substantial than for other P2P sites, and typically include three years of business income taxes, your most recent personal income tax return, six months’ business bank statements and other documents as needed.

Funding Circle Summary:

• Interest Rates: 5.49% o 22.79% APR
• Loan Amount: $25,000 to $500,000
• Loan Terms: 1 to 5 years
• Fees: 0.99% to 4.99%
• Prepayment Penalty: No
• Credit Needed: Minimum Credit Score of 620
• To Get Started: Visit Funding Circle

5. Upstart

Like SoFi, Upstart is a P2P site that focuses largely on refinancing for recent college graduates. For that reason, the platform emphasizes the borrower’s education as criteria for their loan. This includes consideration of your college major, academic performance, the school you attended, and your recent work history. Speaking of work history, Upstart will qualify you on a promise of employment as long as you’re scheduled to start work within six months.

But recent college grads aren’t the only borrowers who can benefit from a loan through Upstart. Since the platform requires verification of only a few months’ worth of income history (six months if you’re self-employed) it can be an excellent loan source for the self-employed, particularly those with a short business history. Best of all, you can take a loan for any purpose.

Upstart makes loans between $3,000 and $35,000 with interest rates ranging from 5.00% to 25.26% APR. All loans are offered at a fixed rate and for a term of 36 months, and there are no prepayment penalties. Upstart requires a minimum credit score of 640 (with no public records, such as bankruptcies). And it applies an origination fee of between 1% and 6% of the loan amount. The application process is entirely online, and Upstart can approve your loan in just minutes with funding as soon as the next business day.

Upstart Summary:

• Interest Rates (Fixed): 5.00% to 25.26% APR
• Loan Amount: $3,000 to $35,000
• Loan Terms: 3
• Fees: None
• Prepayment Penalty: No
• Credit Needed: Minimum Credit Score of 640
• To Get Started: Visit Upstart

6. Credible

Founded in 2012, Credible offers a variety of loan options for consumers. In addition to offering fresh student and personal loans, they also offer student loan refinancing (something I took advantage of earlier this year).

What makes Credible different is that they’re a search engine of sorts, not the loan provider. In fact, every other name you find on this list is offered as a personal loan through the Credible search process. You only have to fill out one initial form and your information is then used to provide you the best options from a long list of loan providers. Credible doesn’t charge fees to use its service.

After you’ve completed the short form, Credible will provide you with a list of all available lenders. After you select one of them, Credible will then ask for more information to get your application started (usually takes no more than five minutes). Once that is complete, you’ll likely be contacted by the loan provider to verify your application.

When complete, a decision is made on whether or not you’re approved and the underwriting process can begin.

Credible Summary:

• Interest Rates (Fixed): 4.99% to 25.99% APR
• Loan Amount: $1,000 to $50,000
• Loan Terms: 3
• Fees: 1% to 6%
• Prepayment Penalty: No
• Credit Needed: No listed minimum; typical client has a credit score starting at 700.
• To Get Started: Visit Credible

7. Best Egg

Best Egg offers the opportunity for funding inside of a 48-hour window. The minimum individual annual income needed to qualify for a loan of $50,000 (their highest amount) is $150,000. If you have a current Best Egg loan, the total amount of money you can borrow at one time cannot exceed the $50,000 mark.

To qualify for the lowest rate of 5.99%, you must have a minimum FICO credit score of 700 and a minimum income of six figures. Having shopped around for a personal loan in the past, I can tell you Best Egg is very aggressive in their mail advertising. At least once a week, I would receive a mailer with a different offer code suggesting I was pre-qualified for a high dollar loan. If you utilize their application form, expect to receive the same.

Applying for a personal loan through Best Egg is easy. Click the apply now on their homepage, enter your email address (verify it), and you’re off. After a short form, Best Egg will provide you with options on the loan that best suits your needs, assuming you qualify. The longer the term, the higher the interest rate. So make sure before deciding which loan you want that you’ve done an apples to apples comparison with others on this list.

Best Egg Summary:

• Interest Rates (Fixed): 5.99% to 29.99% APR
• Loan Amount: $2,000 to $50,000
• Loan Terms: Minimum payment duration is 3 years
• Fees: 0.99% to 5.99%
• Prepayment Penalty: No
• Credit Needed: Minimum credit score of 700 required to achieve the lowest rate of 5.99%
• To Get Started: Visit Best Egg

Final Thoughts

A personal loan can help refinance debt to a lower rate, consolidate existing loans, or start a business. But you must take care not to assume more debt than you need or can handle. Further, your credit score is an important factor in the underwriting process. It will determine in large part the interest rate you can get. So if you don’t know you score you can get your official FICO score here.

Finally, keep in mind that rates and terms do change frequently. We have worked hard to verify the rates, fees, and other terms contained in this article. But please confirm all terms of any loan directly with the lender before applying for a personal loan.

Topics: P2P Lending

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Crescent Moon EVA All-Foam Snowshoes Review

A Homebuyer’s Guide to Life Insurance

Congrats on your new home! Now it’s time to think about life insurance. How would your significant other handle the mortgage if you were gone? We have the answers in our guide to life insurance for new homeowners.

As we get older, we start to think about the really important financial aspects of personal finance… like buying a life insurance policy. Besides providing for your family and covering funeral expenses, one really good reason to consider coverage is if you’re a new homeowner.

Buying a house is a significant expense and a big responsibility. Not only are you signing on for 15 or 30 years of debt, but you are establishing your family’s home. And you hope they wouldn’t have to move in the event of your passing.

So today, let’s talk a bit about choosing the best life insurance for homeowners. We’ll discuss some of the more important considerations involved in picking the right coverage and the companies that offer your perfect policy.

What to Consider

Calculating the right life insurance coverage for you and your family is never easy. Each family’s needs are different from the next, and you’ll need to consider a number of factors. Some of these are:

• Your current salary
• Existing debt
• Outstanding mortgage loans
• Funeral expenses
• Future expenses, such as your children’s education
• Health insurance coverage
• Your family’s monthly bills

If you’re a homeowner–especially if you bought your home recently–your mortgage should be one of the biggest factors in calculating a coverage amount. After all, you probably don’t want your family to be forced out of their home (whilst dealing with their newfound grief, no less). So, you’ll need to ensure that your policy payout will pay the mortgage.

It’s easy to find a term policy that provides just enough coverage for your remaining mortgage debt. These types of life insurance products have lower monthly costs but allow you to choose a sufficient coverage amount for a specific number of years.

If needs change–you have additional children, your salary increases or decreases, you buy a different home, or household expenses shift–you can often alter the coverage amount mid-policy, too. Be sure to read the fine print for your chosen policy to see whether you’re able to make coverage changes and, if so, how often it’s allowed.

Our Selection Methodology

Choosing the perfect insurance company is tricky. Obviously, price is a consideration. After all, you’ll be paying for your coverage each month for years to come. You want it to be affordable!

However, price shouldn’t be the only concern. You want to pick a life insurance company that has a history of reliability and a record of good customer service. You want to ensure timely payouts. And perhaps flexibility (such as the ability to opt in for a living benefits rider) is a priority for you.

Lastly, you want to ensure that the company not only offers coverage in the amount that you need, but that you can shop for and purchase a policy both quickly and easily.

We compared most life insurance companies in the industry today to determine which ones truly are the best for homeowners. We looked at coverage limits, customer satisfaction, flexibility of benefits, and, of course, pricing.

This is what we found.

Our Top Pick

After reviewing all of these different companies, we’ve determined that our top pick overall is Haven Life. The company has a long history of excellent customer service, financial security, and great benefits.

Backed by MassMutual, Haven Life offers policies up to $1,000,000. This is more than likely enough to not only cover your new mortgage balance, but also replace your salary and provide for your family’s future if you were to pass away.

The neatest feature is probably the InstantTerm option. It allows applicants 45 or under the ability to apply for a policy online, sans medical exam, and get approved immediately. If you’re looking for quick, easy coverage that’s reliable and adequate, Haven Life has what you need.

Top 5

Here are the companies that we consider to be the best five. These are where you should look first when seeking out your next (or first!) life insurance policy as a homeowner.

TIAA Life

If you’re looking for affordable coverage with a number of term options, consider TIAA Life. Policies are available for periods of 10, 15, 20, or 30 years, and you can select coverage in excess of $1,000,000.

Applying for a TIAA Life insurance policy involves a complimentary health screening to determine eligibility and calculate premiums. If you need coverage quickly, this probably isn’t the company for you. Receiving a final decision on your coverage usually takes about three or four weeks from the time you apply and complete your health screening.

However, A.M. Best gave TIAA Life a financial strength rating of A++ (or Superior). One other great thing about TIAA Life is that they allow term policyholders to convert over to permanent policies at any time.

Haven Life

Haven Life is a popular insurance company for buying term coverage. It also has a history of customer satisfaction.

Term policies are available with coverage up to $1 million. You’re eligible for coverage as long as you’re a US citizen between the ages of 18 and 64 and not active-duty military. Coverage is available in all 50 states (+the District of Columbia), and they offer an InstantTerm decision process (without a medical exam) for qualified and healthy applicants that are 45 or younger. This means that you could get coverage that begins immediately, instead of waiting for a lengthy exam and underwriting process.

Haven Life policies are backed by MassMutual, a life insurance company with over 160 years of experience in the industry. They have a history of great customer satisfaction (A.M. Best gave them the highest possible financial ratings, for instance), are commission-free, and even offer extras like an accelerated death benefit.

Amica

If you need affordable coverage of $250,000 or more, Amica is a great company to consider. Their policies start at $100,000 and even go beyond $1,000,000. They offer term lengths of 10, 15, 20, 25, or even 30 years. If you are looking at a policy beyond $250,000, additional discounts are also available.

Coverage will not decrease as you get older, even up to age 95. The company also offers a Terminal Illness Rider in case you become ill and want to utilize living benefits. A.M. Best affirmed Amica Life with an A+ (Superior) rating, as well.

Prudential

If you’re looking for even more coverage, Prudential could be the right insurance company for you. Depending on your age and other underwriting factors, they offer policies worth up to $10 million (you even have the option of requesting more coverage than that!).

Prudential term policies last as many as 30 years, and you can add features like living needs or waiver of premium benefits, as well as a children’s protection rider. With Prudential MyTerm, you can apply online for coverage up to $250,000 and get an answer in mere minutes. There are no in-person medical exams, and coverage can begin right away.

The company also offers permanent life insurance policies. Lastly, Prudential has received an A+ rating from A.M. Best.

AIG Direct

If you’re looking for the most popular life insurance company with widespread, satisfied clients, AIG is where you want to look. The company, founded in 1919, has over 90 million customers across 100+ countries. It offers a number of life insurance products, with term life being one of their most popular.

AIG Direct offers term policies ranging from 10 to 30 years in length. You can choose a coverage amount of up to $500,000. And they also offer things like Quality of Life, which is a living benefit product available to policyholders.

Best for . . .

It’s hard to say which company is the “best” one, as there are so many individual factors to consider. However, a few of the companies we reviewed stand out for specific reasons.

Best for a quick policy decision: Haven Life

If you’re looking for a fast search and final decision, with the potential for immediate coverage, look no further than Haven Life. If you’re 45 or under and healthy, you can bypass the medical exam process and get an instant decision online.

Best for a lot of coverage: Prudential

If you’re looking for a high-dollar policy, Prudential could be the perfect insurance company for you. With coverage available well into the millions, you’re sure to find a policy that will not only take care of your remaining mortgage, but also provide for your family’s needs as long as you’d like.

Best for a low price: Amica

If you’re looking for enough coverage to pay off your mortgage and provide for your family’s needs in the case of your death, Amica has a number of affordable options to choose from. If you choose a policy with coverage of $250,000+, the company also offers discounted rates.

Factors to Consider

While we have talked about term life coverage here, it’s also important to take whole life or universal policies into consideration. These types of policies are meant to last for the duration of your life. They don’t require renewal after the end of your term. This also means your premiums cannot increase as you age or if you become ill.

However, a whole life policy is considerably more expensive than a term policy. This is because of the protections it provides, as well as the fact that it builds up a cash value over time (which you can even borrow against). If you have a special circumstance, such as a child with special needs who will need lifelong coverage, it’s definitely worth considering the increased cost in coverage.

Also, there is one more thing to consider when buying a policy that will cover your mortgage balance. Some companies offer what’s called mortgage life insurance, which has the sole purpose of paying off your mortgage loan if you pass away.

The difference between this coverage and a regular term life insurance policy is that your family will not receive any sort of payout. Instead, with a mortgage life insurance policy, the payoff will go directly to the mortgage lender.

This type of policy is a good idea if you are unable to otherwise obtain an adequate term policy–for example, if you have health issues and cannot get approved for coverage. However, since mortgage life insurance doesn’t provide any sort of financial benefits to your family (outside of paying off your mortgage balance), it may not meet all of your needs.

Final Thoughts

If you’re a homeowner and have a balance on your mortgage, a life insurance policy is a very wise idea. In the event of your death, your family will have enough to worry about. Alleviating some of these concerns with coverage that at least pays off the remaining mortgage balance will make all the difference in the world.

There are many companies to choose from, and finding the right one–and the right coverage amount–is different for each person. Be sure to consider every option and obtain a number of quotes before signing on any dotted lines.

Topics: Insurance

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Where to Sell Unwanted Gift Cards

Did you get a gift card you don’t want? With these online sites, you can easily sell gift cards for cash. Compare your options to find the best price.

Did you ever receive a gift card to a store where you never shop? With the holiday’s behind us, you may be sitting on a lot of gift cards you may never use. One option is to re-gift them. But another option is to sell the gift cards online for cash.

Here are seven ways you can do that. If you’ve read our post, 9 Places to Find Discount Gift Cards, you’ll recognize most of these names. That’s because many of the same websites that sell discount gift cards also enable you to turn them into cash.

Also, only one of the services presented below is direct buyers. Rather, they are online platforms that enable you to either sell or trade your unwanted gift cards to/with other individuals. Think of them as something like an eBay for gift cards.

1. GiftCard Granny

You can buy discount gift cards through GiftCard Granny, but you also sell unwanted gift cards there too. In fact, GiftCard Granny gives you three ways to turn gift cards into cash.

The first is to sell it. You can use the platform to sell one or more gift cards through the top gift card websites on the web. You complete the screen below and then select the best offer that you receive on the card. They advertise that you can earn up to 92% cash back on the value of the card. This is also the fastest way to get paid for your cards.

The second is their “Name Your Price” option. You list your card on the site for a specific price and then await the buyer. This is a slower way to sell a gift card but usually results in the highest sale price.

Finally, the last option is to trade a gift card. Using this option, you trade the gift card that you have and don’t want, for another that you do. So you might trade the cash value of your card for Starbucks with someone else on the platform who is trading a Best Buy gift card with an equivalent cash value.

2. CardKangaroo

CardKangaroo offers two ways to turn gift cards into cash. The first is to sell the cards on the site. They advertise that, like GiftCard Granny, you can get up to 92% of the cash value of the card on sale. Selling a gift card uses a three-step process:

1. List your gift card for sale, and get offers

2. Mail in the gift card using their free shipping label

3. Get paid within 48 hours of receiving your gift cards

The second way is to list your card for a trade. You’ll determine which alternate gift card you want to trade for. Once you find someone who is willing to trade, you mail in your gift card, then wait 48 hours to receive the alternate gift card from the other party.

3. Cardpool

One of the advantages of working with Cardpool is that they allow you to sell electronic gift cards, not just the plastic kind. Many sites don’t allow you to sell these. You can get up to 92% cash back by selling your cards through the site, and payment is sent within one business day.

Payment can be provided by either an Amazon eGift Card delivered to your email address or by paper check mailed to you. But Cardpool has another advantage. They have physical locations around the country where you can bring your unwanted gift cards to exchange them for quick cash.

4. Raise.com

Raise.com claims that you can sell your unwanted gift cards in just 24 hours. They also enable you to sell store credits, which is a major plus if you returned an item and got a credit at a store that you don’t normally shop at.

Like other sites, you list your cards for sale, and you’re paid when the sale is completed. You can be paid by direct deposit, PayPal or a check.

5. CardCash

Like the other sites listed here, CardCash enables you to list your unwanted gift cards for sale, to receive as much as 92% of the remaining value of the card. They also enable you to trade your gift cards, which they claim will result in 11% more to you.

6. ABC Gift Cards

ABC Gift Cards looks to be a sister site to CardCash, since they are identical in every respect, including the look of the website. The only difference between the two sites is the name of each.

ABC Gift Cards has the same terms for selling or trading gift cards as CardCash. 

7. GC Spread

GC Spread is unique on this list because unlike the other sites, it’s not a gift card auction site. They actually act as a direct buyer of your unwanted gift cards. What’s more, when you offer your gift card, you set the price you expect to get.

The service will get back to you within 24 hours. If they don’t agree with your price, they will make a counteroffer. You can either accept or reject the counteroffer. If you accept it, you upload your ID and credit card details, then enter your gift card details electronically, or ship it to the GC Spread office in Chicago. Once received, it will be processed and paid.

So if you’ve gotten gift cards to merchants you don’t normally buy from, don’t throw them out or re-gift them. Instead, use one of the sites above to either get some cash on them or exchange them for gift cards from places you want to buy from.

Topics: Personal Finance

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Warbonnet Blackbird Hammock Wins SectionHiker.com Gear of the Year Award

5 Top Airline Miles Credit Cards of 2018

We’ve researched the best airline miles credit cards of 2018 and narrowed the list down to the top five. Here they are, including signup bonus details.

If you’re a frequent traveler–for pleasure or business–a great travel rewards credit card is a must-have. If you prefer to fly with a certain airline, a card that offers miles for that airline is essential.

Airline miles credit cards can boost the miles you receive through your preferred airline’s mileage program. You can rack up miles by the millions. (Don’t believe me? Just check out the movie Up in the Air.)

Note that the cards listed below are airline specific, rather than generic travel rewards cards that let you use your points on just about any airline. We’ve focused on great cards from some of the nation’s top airlines.

We’ll look at just how much the average family could earn with these cards. “Average” is, of course, a bit of a broad term for anything personal finance related. So we’re using the Bureau of Labor Statistics data on consumer expenditures for 2016 as a proxy.

We added up the food, gasoline, entertainment, and apparel categories to come up with an average of about $14,000 in spending per year. We’ll say the family in question spends another $2,000 with their airline of choice. These are the expenses you’re most likely to put through a credit card, so that’s how we’ll calculate potential rewards.

Keep in mind that the value of points varies from month to month and depending on what type of travel you’re booking. We’ll use this chart from The Points Guy to estimate the most recent value for each credit card’s points.

1. Southwest Airlines Rapid Rewards Premier Credit Card

There’s a reason the Southwest Airlines Rapid Rewards Premier Credit Card is so popular. It offers 2 points per $1 spent with Southwest Airlines^® (direct purchases only) and 2 points per $1 spent on Rapid Rewards hotel and car rental partners–including Best Western, Marriott, Hyatt, and more. You’ll get 1 point per $1 spend on all other purchases and 6,000 bonus points per year on your card member anniversary.

• Bonus: Right now, new card holders can get 40,000 bonus points when they spend $1,000 in the first three months of opening their account.
• Fees: The Premier card comes with a $99 annual fee. If you spend enough on this card, though, you can easily outweigh that fee. The card doesn’t have foreign transaction fees, though, which could spell big savings for frequent international fliers (though Southwest only flies to Mexico and the Caribbean).
• Other Benefits: You can redeem your miles for any seat on any Southwest or AirTran flight, and there are no blackout dates.
• Membership Levels: Your credit card points can help boost your membership level in the overall Rapid Rewards program. A-List members get a 25% point bonus on top of base flights earned from each flight, priority boarding, and expedited security. Companion Pass–the highest status–earns you the ability to bring a companion for free whenever you purchase a ticket for yourself. You can change you receives the companion benefits up to three times per year.

Potential Benefits: If you ran every bit of your above-noted expenses through this card, you’d wind up with 64,000 Southwest Rapid Rewards points by your first card member anniversary. These points are worth approximately 1.5 cents each. So that’s $960 in rewards. Even minus that $99 annual fee, you’ve earned enough for at least a couple of free domestic tickets.

Learn More about this and similar cards HERE.

2. American Express Gold Delta SkyMiles^® Credit Card

Learn More

With this card, you’ll earn 2 miles per $1 spent on purchases made directly with Delta.

• Bonus: Right now, when you are a new cardholder, you’ll earn 30,000 bonus miles when you spend $1,000 in purchases within the first three months of card ownership. You’ll also get a $50 statement credit after you make a Delta purchase within your first three months of cardmembership.
• Fees: This card comes with a $0 introductory fee for the first year, and then a $95 fee per year after that. The card has no foreign transaction fees.

Other Perks: Cardholders save 20% (in the form of a statement credit) when they make in-flight food, beverage, and entertainment purchases with this card. Cardholders also get the first checked bag free for the cardholder and traveling companions, as well as priority boarding. Plus, the card comes with reduced fee Delta Sky Club^® Access for the cardmember and two guests.

You can get more details on this and similar cards HERE.

Potential Benefits: Because this card only offers points for Delta purchases, its potential is much lower. You could earn 34,000 points in the first year with the bonus. The points are worth about 1.2 cents each, so you’ll wind up with a total of $408, plus your $50 bonus–for $458 for the first year. That’s still not a bad take if Delta is your favorite airline.

3. British Airways Visa Signature Card

Without doubt the British Airways Visa Signature Card is the card to carry for those that fly British Airways. The bonus rewards for new card members are astounding, as you can see below. The rewards for everyday purchases are also excellent.

• Rewards: You’ll earn three Avios per $1 spent on British Airways purchases, and one Avios for every $1 spent on all other purchases.
• Bonus: Earn 50,000 bonus Avios after you spend $3,000 on purchases within the first three months of account opening. Plus you can earn an additional 25,000 bonus Avios when you spend $10,000 on your account within the first year of opening it. Every calendar year you make $30,000 in purchases on your British Airways Visa card, you’ll also earn a Travel Together Ticket good for two years.
• Annual Fee: $95

Other Perks: This card has no foreign transaction fees and uses chip technology for added security.

Potential Benefits: If you’re frequent international travelers, this may be the card for you. With our spend scenario above, you won’t put enough on the card for the Travel Together Ticket. But you’ll earn 95,000 Avios in your first year of card membership. These points are worth about 1.5 cents each, for a total of $1,425 in rewards. You could travel internationally for that!

Learn More about this and similar cards HERE.

4. Chase United Mileage Plus Explorer

If United is your airline of choice, you can get some great bonus perks from this card right now. It lets you earn miles for both United purchases and everyday spending, and gives you the first checked bag for free for each person whose ticket you purchase on the card.

• Rewards: You’ll earn two miles per $1 spent on tickets from United. And you’ll get an additional one mile per $1 spent on all other purchases.
• Bonuses: Right now, new cardholders can earn 40,000 bonus miles after spending $2,000 in the first three months of opening their accounts. If you add an authorized user, you’ll get another 5,000 bonus miles.
• Annual Fee: This card has a $95 annual fee, which is waived in the first year.
• Other Benefits: With the Chase United Mileage Plus Explorer card, you’ll get priority boarding and two United Club one-time passes on your card anniversary.

Potential Benefits: You could earn about 63,000 points with our scenario described above. They’re worth approximately 1.5 cents per point, for a total of $945 in rewards. Again, that will cover a hefty chunk of most domestic family flights.

Learn More about this and similar cards HERE.

5. Barclaycard JetBlue Plus Card

Learn More

JetBlue is quickly becoming a more popular airline. If you really like this airline, you can earn three points per $1 spent on JetBlue purchases with the Barclaycard JetBlue Plus Card. And you’ll earn two points per $1 spent at grocery stores and restaurants. That’s the bulk of where many families spend their money, so we’ll see how that shakes out below.

• Bonus: You can earn 30,000 bonus miles after spending $1,000 on purchases in the first three months of card membership.
• Extra Perks: Additional perks include no foreign transaction fees and 50% off of cocktails and food purchases while you’re flying.
• Annual Fee: $0

Potential Benefits: To calculate this card’s annual rewards, we had to separate out grocery and restaurant spending. The BLS statistics put food spending at about $7,200 per year. Add that to the $2,000 spent on plane tickets and the 10,000 point bonus, and you’ll come up with about 30,400 miles earned in your first year. These points are worth about 1.3 cents each. That brings your total to $395 in rewards. That’s less than the other cards featured here, but because of the $0 annual fee, it’s more sustainable in years to come.

Topics: Credit Cards

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IMPORTANT CONSIDERATIONS BEFORE BUYING AN INFRARED SAUNA

Content originally published and Shared from http://perfectbath.com

If you’re in the market for an infrared sauna, there are several key considerations to make to ensure you select the perfect sauna for your home

Numerous health gurus, fitness experts and medical doctors all agree – saunas, specifically infrared saunas, can deliver a whole host of important health and wellness benefits for people of all ages. From chronic illness to minimizing stress, improving the effectiveness of a workout to cleansing and purifying the skin, modern saunas combine today’s leading technological innovations with centuries-old wellness principles to deliver real, tangible health benefits for the sauna enthusiast. If you’re considering buying an infrared sauna for your home, make sure you ask the following questions:

• What type of heating system is best?

  
  Traditionalists will always seek a way to tout the benefits of a “hot-rock-and-steam” sauna, but the majority of new saunas produced today are outfitted with infrared heating elements – not the old-school heaters that create extraordinary amounts of steam within the sauna. Near-infrared and far-infrared only heating elements are available, but saunas that use Full Spectrum Infrared (near, mid and far infrared) are generally considered the best. This heating system promotes sweat and deep-body infrared wave penetration to eliminate toxins as efficiently as possible. One of the biggest benefits of an infrared sauna versus the traditional sauna is the lower operating temperatures afforded by the infrared heating element.

• What size sauna should I be looking for?

  This obviously depends on your intended use.  If you will mostly be using the sauna by yourself, a compact sauna model might seem like the logical choice.  Many health-minded individuals use their sauna as a contained exercise room. You can add a different dimension to your yoga routine by doing it in a sauna, or add a twist to other exercises in your repertoire. Bottom line? Select a sauna that fits your home and your lifestyle, but make sure to account for future needs when narrowing down the overall dimensions.

• What are the real-world health benefits of an IR sauna?

  Your new infrared sauna will provide a host of tangible health and wellness benefits, with the eight most important sauna health benefits being:

 

• Muscle pain relief
• Immune system boost
• Weight loss and increased metabolism
• Detoxification
• Joint pain and stiffness relief
• Improved appearance of cellulite
• Reduction in fatigue and stress
• Improved skin tone and clarity

 

• What kind of warranty does my sauna include?

  Though a warranty is only one part of the equation, you’ll want to investigate the company and the warranty offered with each sauna. The warranty should cover the heater, electrical system, controls and other peripherals. Better companies will even cover accessories like audio and chromotherapy systems.Also, determine if the warranty will cover the sauna if the unit is used in a commercial location. If you’re looking for a new sauna for your office or commercial building, this is an important consideration. Most warranties are designed for home use and provide coverage in normal operating modes. Spend some time online, and research any consumer’s feedback of the company, including warranty-related issues.

When researching buying an infrared sauna for your home or office, there are various models available for your consideration that will perform admirably and last for years to come. Beauty Saunas Infrared Saunas are wildly popular today and combine several unique benefits for the discerning shopper. Beauty Saunas combine Full Spectrum Infrared heaters with kiln and air-dried wood structures for superior durability and performance. Far Infrared Saunas can also be enhanced with a number of options, such as chroma-therapy lights, custom interiors, sophisticated electronics packages, and more. And it’s all covered by the  Limited Lifetime Warranty for residential use. Even commercial-level users enjoy a lifetime warranty.

 

Contributed by: Aaron Gruenke Foremost expert in Saunas and bathroom fixtures.

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A Newlyweds’ Guide to Life Insurance

Life insurance for newlyweds may not be your focus on the big day. But after your married (ok, after the honeymoon), it’s a key topic for young couples.

Many people don’t think about getting life insurance until they have kids. After all, you’re not really responsible for another person until you become a parent, right? Well, that’s right and wrong.

You may not need loads of life insurance as a newlywed couple, especially one without children yet. But you likely need at least some basic life insurance coverage.

We won’t dive too much here into how much life insurance you need. Just know that if you couldn’t easily pay out of pocket for the following expenses in the untimely event of one spouse’s death, you probably need some coverage:

• Funeral and end-of-life costs: In 2014, the median cost of a funeral with a viewing and burial was about $7,000. And, remember, that doesn’t include any costs associated with an unexpected accident, hospital stay, or lengthy illness. Those can really add up. Unless you have enough in savings to cover the costs, you need some life insurance coverage.
• Mutual debts: The financial fallout from one spouse’s untimely death can be huge, especially if you have outstanding mutual debts. Not all debts will automatically pass to the surviving spouse. But if both names are on the credit card or outstanding debt, those will. It’s best if you can pay off all or at least most of these debts with life insurance proceeds.
• Time to grieve: Unless your workplaces have generous time off policies, chances are the surviving spouse will need to take additional time off to deal with funeral arrangements and simply to grieve. It can be a good idea to build in enough life insurance for the spouse to take a few months off after an unexpected death.

The bottom line is that if you can’t easily handle expenses like these out of your savings accounts, you need life insurance.

In addition, life insurance is a must if one spouse relies on the other for support. The loss of income where only one spouse is working can be financially catastrophic.

The good news is that term life insurance, the type we’ll cover here, is pretty cheap. For just a few bucks a month, you can get peace of mind that your spouse will be taken care of in the event of your untimely death.

Keep in mind that there are other types of life insurance, such as whole life insurance. This is the right option for a few couples. But for most, term life insurance is the way to go.

Our Top Pick

State Farm life insurance is well-known for excellent customer service. Their online platform isn’t as pretty as others, but it’s quite functional. From the online application, you can look at different types of life insurance, get quotes for different terms, and add riders to your insurance policy.

I picked State Farm for newlyweds, specifically, because they’re one company that offers lower coverage amounts. With many companies, you have to buy at least $100,000 in life insurance coverage. But with State Farm, you can go down to $50,000. This can be helpful if you don’t have much money to pay monthly and only want very basic life insurance coverage.

The $50,000 amount is only available in State Farm’s Instant Answer Term product. This product guarantees the insurance for 10 years or until you’re 50 years old. It’s an affordable option and a way to skip the hassle of medical verification. (Though, keep in mind, if you’re in good health, medical verification can actually work in your favor.)

When I got a quote for a 32-year-old woman in good health in Illinois, State Farm said I could get a $50,000 Instant Answer term policy for $19 per month. Not bad at all!

Of course, the company has a myriad of other term insurance options. And it has a solid financial rating from A.M. Best and some of the industry’s best customer service reviews.

Runner-Up

I am all about ease of application when it comes to life insurance policies. And Haven Life’s online application couldn’t make it easier. It offers medically underwritten life insurance. If you’re young and healthy, this is actually a good thing. It likely means you’ll pay less in insurance premiums than you would without medical underwriting.

Haven is an offshoot company of MassMutual, an old company with a great financial rating. So you know your life insurance policy will be safe with Haven.

Haven’s lowest policy amount is $100,000, but their lowest term is 10 years. That’s helpful if you aren’t sure what the future holds for you and your new spouse. Maybe you don’t think you’ll need longer-term life insurance. You can save money by opting for a lower term. In fact, their estimator showed that a 32-year-old woman in average health could get a $100,000, 20-year policy for about $12 per month! Not bad at all.

Haven generally has good customer service reviews online. And their application process is smooth and simple. You’ll just have to wrap up your application with medical underwriting. But, again, this is ultimately worth making the time to do.

Our Selection Methodology

When it comes to life insurance for newlyweds, I had a few criteria driving my selections. One major factor was the flexibility of terms and death benefits. State Farm came in first because it offers a reasonably low death benefit. This can be helpful if you’re not looking for enough coverage to set your spouse up for life if something should happen to you. And Haven’s 10-year-term availability is also helpful if you don’t need long-term life insurance.

I also wanted to highlight companies with easy online application processes. Most of the time you have to take follow-up steps, but it’s nice if you can kick off the process online.

I also looked at the types of policies and riders that were offered. For instance, you may choose to add an accelerated death benefit to your policy. This would let you cash in on the insurance policy early if you became terminally ill. It’s a good extra protection to have, just in case. Another option to consider is disability benefits. With some policies, you can pay a bit more up front but keep your life insurance, with waived monthly premiums, if you become permanently disabled.

As you can see above, I kept the policy considerations pretty small. When price shopping, I looked at policies for a 32-year-old female in average health. I looked at either $50,000 or $100,000 policies with a 20-year term.

Top 6

1. State Farm

State Farm always ranks near the top on customer satisfaction surveys. And they have a solid financial rating. Plus, like I said above, they offer low death benefit amounts and flexible rider options that might suit you. Basically, you can apply online and create your customized life insurance solution as you go.

2. Haven Life

Haven is great because it has the financial backing of a much larger and older company. It consistently gets high ratings for its online application process. And it has short term limits available, which can be helpful if you don’t need longer-term life insurance.

3. Principal Financial

Principal is a great option for people who are in really good health. You’ll need a great blood pressure reading and no history of tobacco use for the past five years to qualify for the best rates. But if you can meet those requirements, you could get really cheap life insurance from a highly-rated company. Principal offers an online quote tool that helps you decide how much insurance you need and recommends three different coverage levels.

My quotes ranged from $23 to $57 per month for $500,000 to $1.5 million in coverage. (Unfortunately when I tried to rig the numbers in the calculator to come out with a lower amount, it told me I didn’t need life insurance. Points for honesty, I suppose.)

4. MetLife

MetLife is rated as highly financially stable, and it offers medical-exam-free health insurance options for up to $500,000. It also offers flexible terms. You have to fill out a form online to get your quote, but that kicks off the application process. If you want to get approved for life insurance quickly, MetLife is a good place to start.

5. Primerica

Primerica is actually where my husband and I have our life insurance policies–ones we bought as newlyweds. It’s a more complicated application process, which brings it down on my list. You have to actually talk or meet with a representative from this MLM-style company. But once you have the meeting and medical exam, finishing the application process is pretty simple.

I feature Primerica here mainly because they offer a term life insurance product that can work well for newlyweds. It’s a term policy with an optional increasing death benefit. Each year, I get the option to increase our death benefits incrementally. The costs go up a bit, too. But this means you can start out with a small policy that automatically grows as your income or family do. You may be able to avoid layering on additional term life insurance policies if you qualify for one of these options.

6. AXA Equitable

AXA Equitable is one of the lesser-known life insurance companies on this list. But it has good customer service and financial ratings. And I feature it because it has a couple of interesting options. For one thing, you can get a single year’s worth of life insurance coverage. This can be a good way to bridge a gap in employer-paid coverage, for instance.

But the other option is that you can choose to pay increasing premiums. These premiums start off lower than the market rate but gradually increase with a level death benefit. If you’re completely broke as a newlywed but want to access a life insurance policy, this could be a decent option.

Best For…

The totally broke newlyweds…My early marriage involved lots of cheap dinners in and budgeting squeezing. I get it. But you still need life insurance–especially if your budget is squeezed because of debt! In this case, you could start off with a lower coverage amount from a company like State Farm. Or consider the raising benefit or raising deductible options from Primerica and AXA Equitable, respectively.

Those planning for children…If you know you’re going to have children someday–especially if it’s someday soon–it’s best to plan for that type of life insurance coverage. In this case, you can get a lot of bang for your buck with Haven Life. It offers some very low premiums on even larger policies. Or you could do what we did and check out an increasing benefit term life insurance product from Primerica.

The super busy…Are you still dealing with writing thank you notes for wedding gifts and settling into life together? You probably need a life insurance company with an easy online application process. In this case, Haven Life is the clear winner, but MetLife’s lower death benefit policies are a close second.

Factors to Consider

When it comes to life insurance as a newlywed, you may not have thought much about it before. After all, you’re marrying an adult who could probably take care of him or herself if something happened to you. But life insurance is a very affordable way to make sure your spouse is cared for if something unexpected happens to you.

With that in mind, here are some things to keep in mind when shopping for life insurance as a newlywed:

• Sustainable pricing: Whatever you do, don’t apply for more life insurance than you can comfortably pay for. These policies will lapse as soon as you stop paying for them. And if that happens, then everything you have paid for the policy up until this time just goes to waste. So even if you have to settle for a smaller policy than you would otherwise, don’t bite off more than you can chew.
• Layering policies: Remember that you can always add additional life insurance policies as your family grows. It’s a good idea to start off with a base level of coverage now, while you’re presumably younger and healthier. The older you get, the more life insurance will cost, automatically. But you can layer on additional small policies to get the total coverage you need.
• Ease of application: We focus a lot on how easy it is to apply for life insurance. With some of the companies above, you’ll need to meet with or call a representative. But you shouldn’t have to jump through 15 hoops to get life insurance coverage. If that’s the case, back away. There are too many good companies out there streamlining the process to deal with that mess these days.
• Customer service ratings: Look into how a company serves its customers. This can be an indicator of how quickly and efficiently they pay out claims. And if your family needs to cash in your life insurance policy, you want to be sure they can do it quickly and with minimal hassle.

Final Thoughts

Shopping for life insurance is never fun. But it’s something most everyone deals with at some point. While you’re shopping around, take the time to consider other related questions, such as secondary beneficiaries for your policies. And remember to check back in on your life insurance coverage and policies every year or two to make sure you’re completely covered.

Topics: Insurance

The post A Newlyweds’ Guide to Life Insurance appeared first on The Dough Roller.

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Light My Fire Swedish FireSteel 2.0 Army Review

6 Top Rewards Credit Cards of 2018

The best rewards credit cards of 2018 include cash back, points and travel rewards. We cover all three in our list of the most rewarding card offers.

More than ever before, credit card companies are throwing cash, points, and miles at consumers to entice them to sign up for new credit cards. We’re talking bonuses worth hundreds of dollars just for signing up for a new credit card. Many of these cards don’t even have an annual fee!

Here are a couple of things to note about finding the best rewards credit cards:

1. Most lists are outdated. Be careful which lists you’re looking at when it comes to rewards credit cards. Many, such as the lists from Consumer Reports, are outdated. Those cards have long been replaced with even better offers.

2. Many lists leave out the best cards. Of course, it’s not practical to list every one of the thousands of great credit card options out there. But here, we’re really trying to distill it down to the best offers at the time of this writing.

Here, we’ll list our editor’s picks of the top seven best overall rewards credit cards. If you’re interested in cards within a certain category, check out our specific lists. Otherwise, this is just the top seven best rewards cards today (and seven bonus options):

1. American Express Blue Cash Preferred^®

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The Blue Cash Preferred card is an excellent way to earn cash back on your everyday expenses. In fact, unlike most cards weighted more towards dining, entertainment, and travel, this one is weighted towards gas and groceries.

With this card, you’ll get 6% cash back on up to $6,000 per year in supermarket purchases, 3% cash back at US gas stations and department stores, and 1% cash back on all other purchases. You can redeem your Reward Dollars as a statement credit. For new card members, spend $1,000 on purchases within three months of account opening, and get a $150 statement credit.

The $95 annual fee for this card isn’t fun to pay, but it’s definitely not the worst option among high-rewards cash back cards. It also offers a 12-month 0% introductory APR on purchases and balance transfers.

Learn more about this and similar credit card offers

2. Capital One® Venture® Rewards Credit Card

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The Capital One® Venture® Rewards Credit Card is one I’ve carried for years. It has several excellent features. First, you can earn a one-time bonus of 50,000 points when you spend $3,000 on the card in the first three months from account opening. These points are worth $500 when used for travel.

Second, you earn 2 points for every dollar spent. Use these points for travel, and this card offers a 2% rewards rate one every purchase. Many other travel rewards credit cards lure you in with the promise of 3x – 5x rewards points but that only applies to travel spending. This credit card gives you 2% every time.

There is no annual fee to own the Capital One® Venture® Rewards Credit Card for the first year; $95 thereafter.

Learn more about this and similar rewards credit card offers

Bonus Rewards Offer

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Before we continue with our list, there’s one unique bonus offer to discuss. There’s one card that offers 1% cash back on all purchases everyday, and there’s no limit to the rewards you can accrue. Then, it offers bonus cash back of 5% in rotating categories, up to $1,500 quarterly when activated.

On top of these rewards, this card will match the cash back you earn at the end of your first year.

This card has no annual fee, and the card offers 0% APR for 12 months on purchases and balance transfers.

Learn more about this card and how to apply here

3. Chase Sapphire Preferred

The Chase Sapphire Preferred is listed in the best-of lists on plenty of websites, and not without reason. Right now, it’s offering a great bonus: 50,000 bonus points for spending $4,000 in your first three months after account opening. You can add another 5,000 points by adding an authorized user and making a purchase in the first three months from account opening.

On an ongoing basis, the Chase Sapphire Preferred offers 2 point per $1 spent on travel and dining at restaurants, and 1 point per $1 spent on all other categories.

Other perks include 20% off travel when you redeem through Chase Ultimate Rewards, and a 1:1 point transfer program. This lets you transfer your Chase points into other travel rewards programs, which can let you leverage your rewards more easily.

The card also offers no foreign transaction fees, and it’s chip enabled for more security and worldwide acceptance.

The main drawback to this card is that it has a $95 annual fee. If you don’t spend enough money on the card to out-earn that $95, then this card may not be worth your while. But if you want to reap excellent rewards on everyday spending, then this could be the rewards card for you.

• Another Option: Another option is the Chase Freedom Unlimited, which offers unlimited 1.5% cash back on all purchases and a similar $150 sign-up bonus. The big benefit of this card vs. the Sapphire Preferred is that it has no annual fee so if you’re a lighter spender, you may earn more overall.

Click here for more information on these and similar rewards credit cards

4. Barclaycard Arrival Plus World Elite MasterCard®

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The Barclaycard Arrival Plus World Elite MasterCard® offers excellent travel benefits, including a huge bonus points offer. It gives you 2 miles per $1 spent on any purchase, without messing around with rotating categories. If you spend $3,000 within 90 days of card ownership, you’ll get 40,000 bonus miles–worth $400 in travel credits.

Barclaycard makes it easy to redeem travel rewards for what you want to use them for. Just book your travel online or in person through your card. Then, redeem your accrued miles for a statement credit.

As another bonus, this card offers a 0% introductory APR for 12 months on any balance transfer made within 45 days of opening your account.

Unfortunately, this card has an $89 annual fee, which is waived for the first year. So that’s slightly less than the Chase Sapphire Preferred, but still a hefty fee. Still, if you use it for most of your spending throughout the year, you’ll well out-earn that fee.

5. Chase Freedom

The Chase Freedom is considered one of the best cash back rewards cards available today. After signing up and making just $500 in purchases during the first three months, you’ll receive a cool $150. This card offers 1% cash back on all purchases with 5% cash back on select categories each and every quarter. Those categories include things like gas, groceries and at department stores but there’s a slight catch. Only $1,500 can be spent per quarter in these categories before your cash back rate defaults to 1%. Cash back never expires, and there is no limit to what you can earn.

You’ll also receive a generous 0% intro APR on purchases and balance transfers for 15 months. After this expires, the ongoing variable APR becomes 15.99% – 24.74 variable.

There is no annual fee to own the Chase Freedom.

Learn more about this and similar rewards cards  

6. Capital One® Quicksilver®Cash Rewards Credit Card

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The Capital One^® Quicksilver^®Cash Rewards Credit Card pays a solid 1.5% on all purchases. The card also offers a one-time $150 bonus and a 0% APR introductory offer on purchases and balance transfers, with no annual fee.

Learn more about this and similar rewards cards here

Topics: Credit Cards

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