A Review of Qoins, The App That Pays Off Your Debt

Secured vs Prepaid Credit Cards – Which is Better for You?

How do you feel about spending and budgeting? Depending on your answers, you’ll either choose a secured credit card or a prepaid card. So, which is better for you?

If you’re trying to build or rebuild your credit, chances are you’ve heard of a secured credit card. But what about a prepaid credit card?

Many people think that you can build credit with these cards, but the short answer is you can’t. That’s not to say that prepaid cards don’t provide tremendous value for the right person.

We tend to get a lot of questions on the debate between secured and prepaid cards, so in this article, I’ll discuss what each of them is and why you may want to consider getting one. Let’s first start by calling out some of the differences between the two.

Secured vs. Prepaid Credit Cards – What’s the Difference?

Before determining which credit card is best for you, let’s explore some of the critical differences between a secured credit card and prepaid credit cards.

Secured Cards

Secured cards work just like traditional credit cards. You can use them up to your credit limit (which is determined by a deposit–see below), and each month you’ll get a statement with your charges and the amount of your minimum payment.

If you make your payments on time, your credit score should improve, whereas late payments will hurt your score. This is par-for-the-course with all credit cards.

One thing that’s different, though, is that secured credit cards require you to make a cash deposit (typically $200 to $5,000) with the card issuer before you can use the card, and your credit limit is generally equal to the amount of your deposit.

The bank then holds your deposit as security in the event you fail to pay your credit card bill. That’s the basis of any secured loan. A mortgage loan, for instance, is secured to your home. If you don’t pay, the bank can take your house. A traditional credit card, on the other hand, is unsecured, meaning that if you fail to make a payment, there is no collateral tied to it.

Because of this security deposit, people with bad credit can generally qualify for a secured credit card, even if they can’t get a traditional card. That’s why these types of cards are perfect for those looking to rebuild their credit after a bankruptcy, foreclosure, or other adverse financially-related life events.

Prepaid Cards

A prepaid credit card works like a debit card. Once you deposit money on the prepaid card (via direct deposit, bank transfer, or cash), you can use the card anywhere that accepts debit MasterCard or Visa. It can be used to shop online, over the phone, or at virtually all retailers.

Once you’ve spent the money you initially deposited, you’ll need to add more funds to continue using the card. For this reason, these cards are often referred to as reloadable prepaid cards (in contrast to, say, gift cards). Because you’re spending your own money that you’ve added to the card, prepaid cards generally won’t help you improve your credit score.

Which Card is Right for Me?

Now that you have a basic understanding of each type of card, here’s a breakdown of some of the features to look for in a card. I’ll tell you if a secured card or a prepaid card offers them, and if so, which one is best.

Build Credit

Short Answer: Go with a secured card.

A secured card is a credit card, and it’s just secured to collateral that you put down (your cash deposit). Other than that and a small credit line, you’re holding a credit card. As I said above, if you make payments on time, you’ll build credit. If you miss payments, your credit will stay in the gutter.

Here’s an easy trick to get you started: get a secured credit card and sign up for a low recurring monthly service, like Spotify. Set up autopay on the credit card so when the bill comes every month, it’ll be automatically paid out of your checking account. This way, you are getting a service you’d already pay for, but you’re doing it with the secured card and building credit. Overall, the risk is low since you’re only charging about $10 per month.

Prepaid cards are not real credit cards. They won’t show up on your credit report, and you can’t miss a payment, because there are no bills. You can only spend what you’ve deposited onto the card. So there’s no way to build credit by solely using a prepaid card.

Learn More

The Capital One® Secured Mastercard® is a great option for those with very poor credit scores. There is no annual fee (and no fee to acquire the card) and the minimum deposit to gain a line of credit is either $49, $99 or $200. The amount of your deposit will depend on your credit history and your initial line of credit will be $200. You can always deposit more money to gain a higher line of secured credit.

Earn Rewards and Points

Short Answer: Neither type card will give you bonuses that you’ll care about.

If you’re looking to earn rewards from your purchases, neither a secured card or a prepaid card will give you what you’re looking for. If you have a secured credit card, the odds of you getting rewards are slim to none. If you do, they’ll be minimal.

Your only real hope is that after a certain period (and you can ask the card issuer this), you can “graduate” to a regular, unsecured credit card, which may offer better rewards (often, card issuers will do this after 12 to 18 months of on-time payments). Still, though, you’re better off using the secured card to build your credit up, then go out and get an excellent rewards card later.

With a prepaid card, you may get small rewards or perks, but nothing to write home about. The difference here is that you can’t “graduate” to a credit card, and typically a prepaid card won’t help you build credit to get to a better card. So if rewards are what you’re looking for, don’t get your hopes up.

Curb Spending Habits

Short Answer: Choose a prepaid card if you want to learn to spend less.

Since a prepaid card is loaded with cash that you put on it, there’s a finite spending limit. You can only spend as much as you’ve put on the card. Now, there are apparent loopholes around this (you can use another card, cash, etc.) but if you’re determined enough, you can use one prepaid card and set a spending cap for the week or month.

You may want to use it for things like discretionary purchases, though, not things like rent or utilities (since you have to pay those). We recommend using a tool like Personal Capital to create and manage a budget and use your prepaid card to help you stick to it.

A secured card, on the other hand, won’t (by itself) help you curb your spending patterns. It may, up to the small limit you receive, but overall you can spend as much as your limit allows. You’ll also get a bill in the mail since the money won’t be deducted right away.

If your primary goal is to spend less money, but you also need to build credit, try doing a combination of a secured card with an app like Debx–which will make daily payments to your credit card for you, thus making it function like a debit card.

Learn More

With the Netspend® Visa® Prepaid Card there is no activation fee, no minimum balance required and no credit check in order to be approved.  There are no late fees or interest charges and you’ll have access to the NetSpend Mobile App to manage your account.

Avoid Fees

Short Answer: It depends on how you want to use the card and how responsible you are with money.

First, let’s start with secured cards. Secured cards will come with all of the same fees a traditional credit card would. This includes finance charges (if you carry a balance), late fees (if you miss a payment), annual fees (if applicable; some have this, some don’t), and more. Each secured card will be different with its fee structure, so make sure to do your due diligence before selecting one.

Prepaid cards don’t come with annual fees or late charges like a secured card does–but they may come with activation fees and monthly maintenance fees (some of these can be worse than credit card fees, by the way). Many prepaid cards will charge you for withdrawing cash, paying bills, reloading money, and other typical things you’ll end up doing with a prepaid card. On the surface, it seems like it might be free (and some are, by the way) but you’ll want to make sure you read all the fine print before getting a prepaid card.

Overall, you really shouldn’t be using either card to get cash. On a credit card (secured card) it’s considered a cash advance and will be at a very high rate, along with some charges. A prepaid card is funded with cash, so it would make little sense to withdraw it back out (and potentially pay a fee). If you can manage to make your payments on time, go with a secured card. There are more benefits–namely building your credit. Plus, you can find secured cards without an annual fee, so it should cost you nothing if you’re responsible. Prepaid cards are great if you don’t plan to reload your balance often and are merely using it as a budgeting tool.

Extra perks

Short Answer: Hands-down, go with a secured credit card.

A prepaid card is mostly the same as using cash, just in a different form. Because of that, it gives you no perks or extra benefits. A secured card, on the other hand, is a credit card, so it gets the same protections that traditional credit cards have. This includes fraud protection (you’re not responsible for purchases you didn’t make if your card is stolen); insurances like car rental coverage and travel accident insurance; and purchase protection (depending on the issuer). Heck, you might even wind up getting a secured card that gets your points or discounts if you use it certain places.

Prepaid cards lose the federal protection that credit cards have so if this is important to you, I’d strongly recommend getting a secured card. Keep in mind that while there are standard protections that all credit cards provide, you may find issuers that offer additional perks on top of that, such as extended coverages.

When to Apply for Each

Both secured and prepaid cards are useful in different types of financial situations. So when should you apply for each one of these?

Secured Cards

If you’ve had a major negative financial event occur, such as bankruptcy, you’re best off waiting for at least six months after the event to apply for a secured card. There are two sides to this. First, something like a bankruptcy can be emotionally, mentally, and financially exhausting and stressful. You shouldn’t be adding anything to your plate at that time–just focus on getting your financial situation together (paycheck, rent, etc.). Most banks will also consider your financial event a little too soon to want to give you credit–even if it’s secured. So I’d recommend giving it at least six months to a year before applying for new credit. When you’re ready to manage a new card with monthly bills after that time period, go for it.

If you have no credit, you can certainly apply for a secured card, but you may be declined. If you’re unsure, I’d talk to a customer service rep at the bank you’re looking at, or a financial advisor. There are other ways to establish credit besides getting a secured card.

Prepaid Cards

There’s never a bad time to apply for a prepaid card, it really just depends on your situation. If you have no credit, want to start budgeting and cut back on your spending, or just want an easy way to separate your spending from a significant other, getting a prepaid card might be a good idea at any point in your life. Since you’re depositing the money and it’s basically a debit card, there’s typically no credit check or thorough application process needed.

Bottom Line

I can’t tell you which type of card is best–you have to make that decision for yourself. In most cases, I’d recommend a secured card because you get so much more. But I can also see why you’d want a prepaid card, such as its simplicity and ability to not allow you to spend more than you can afford.

To quickly recap, you’ll probably want a secured card if you:

• Want to build credit
• Are responsible with monitoring your spending
• Have at least $200 to put down as a deposit
• Need protections like car rental insurance and zero fraud liability

On the other hand, you’ll probably want a prepaid card if you:

• Can’t keep up with monthly bills and payments
• Want to make sure you never spend more than you have
• Are interested in getting better at budgeting
• Need to make smaller deposits more frequently

Either way, by reading this article it’s clear that you have the intention of improving your financial life in some way–so kudos to you. Please let us know in the comments below which card you ended up choosing and why!

Topics: Credit Cards

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12 Ways to Save Money When Traveling Abroad

Vacations near or far can easily break the bank. But there are ways to cut costs, even if you’re going to another country. Here are 12 ways to save money when traveling abroad.

I’ve was fortunate enough to get to live and travel all across Europe before having children. Over the course of my journeys, I visited 23 countries, walked the hallowed grounds of history’s battlefields, and reveled in the beauty of some of the greatest cities in the world.

These new adventures often came with new mistakes, though, and many of them related to money. Figuring out the best ways to save and spend money in a foreign land was a trial-and-error type of effort. There are things you will never think about until it’s too late–whether it’s on the flight over or a few weeks into your journey.

After learning from my own experiences, I wanted offer some suggestions to hopefully help some of you avoid similar missteps. These helpful, money-saving tricks could save you both frustration and cash, and ensure that you don’t walk away from your next trip wishing you’d done things differently.

While my experience (and this article) focuses primarily on Europe, the principles remain the same no matter where you venture. Let’s get started! Here’s some of the best money-saving tips that I’ve picked up, which can be applied all over the world.

1. Cash is King

Those of us who live in the United States are used to a common principle: credit cards are accepted wherever you go. Many places even accept mobile wallet payments, meaning that you can pay for your purchases with your smartphone or even a smart watch. So, if you’re not used to carrying paper currency every day, be prepared for the reality that cash is still king in a large part of the world.

For example, the majority of local stores and restaurants in Germany accept only euros. No matter where you go, there are probably many places that your credit and debit cards are not welcome.

Plus, it’s always a good idea to have some local currency on hand. If you’re sightseeing, grabbing food, or buying souvenirs, cash is likely to be your only option.

2. Save Money in Exchange Fees

If you are traveling to another country, you’ll need to trade your good old greenbacks in for local currency. And when you do so, you’ll be subject to exchange fees.

The best way to save on exchange fees is to wait until you arrive at your destination airport before obtaining the local currency through an ATM. If you exchange money beforehand, your home bank will charge a service fee. Plus, you’ll have to keep track of a large amount of cash during the movement phase of your trip.

You will almost always get a better exchange rate on ATM withdrawals versus what you would pay to an exchange service in the airport or a touristy location. You’re looking at an average difference of between 3-7%, in fact.

Make sure to notify your bank that you’ll be traveling at least one week prior to departure. That way, you’ll ensure your ATM card will work without interruption.

3. Use a Credit Card with No Foreign Transaction Fees

While cash is king, credit cards still have their place. They can offer certain protections when you’re traveling, and you can also use them to earn rewards. Using one, though, can result in foreign transaction fees–which you will definitely want to watch out for.

If you lose a wallet full of cash in a foreign country, you’re out of luck. Lose your credit card, though, and you can simply call to cancel the card, you won’t be liable for fraudulent charges, and you can easily order a replacement. That alone is a great reason to pull out the plastic when you can.

However, foreign transaction fees–which are imposed by your issuer when they convert the charges to your home currency–can cost you between 3-5% on average. By choosing the right travel credit card, you can avoid these fees altogether while also protecting your spending while you’re on-the-go.

The Chase Sapphire Preferred® Card is a terrific travel rewards credit card that charges NO foreign transaction fee.  New cardholders can earn a 50,000 point bonus after spending $4,000 in the first three months.  Those points can be redeemed for $500 in gift cards OR $625 in travel (points are worth 25% more when you book travel through Chase).  An additional 5,000 bonus points are earned after you ad an authorized user and they make a purchase and the annual fee is $95 (waived for the first year).

4. If There’s a National Currency, Use It

Some countries have their own currency in addition to accepting a more broadly-used currency. And oftentimes, using the national currency can save you money.

The Czech Republic is a great example of an economy that accepts both euros and their own local currency, the koruna. Recently, when booking a service, I had the option to pay in either currency. Having done some research beforehand, I knew the exchange rate and general value of the amount I was about to spend. I was quoted 100 Euro or 2200 koruna, and the cost in local currency equaled almost a $20 discount!  You can’t beat that, simply for choosing one currency over the other.

Bonus tip: Grab an index card, piece of hotel stationery, or a make a digital note on your phone after you research the exchange rate of the local economy. Think in multiples of five and ten. Write down the current exchange rate, and create a chart with what $1, $5, $10, $25, $50, $100, etc. is equal to in the local currency.

This handmade cheat sheet can help you determine if the prices you’re seeing are fair, while allowing you to track what you’re actually spending.

5. Cut Cell Phone Costs

If you plan on traveling for more than a few weeks, think about how it will impact your cell phone bill and your ability to communicate.

You could consider purchasing a prepaid SIM card once you get settled in. This is much more budget-friendly than than roaming on your phone with your home plan. A “host-nation” prepaid SIM card with voice and data will allow you to make dinner reservations, call a taxi, research the next stop on your tour, and check those work emails you were supposed to ignore. And it’s a lot cheaper than paying for international service.

Depending on which country you’re in, prepaid phone cards can be incredibly cheap. If your host nation SIM card provides a lot of data but limited talk/text, you can download a VOIP application to make phone calls. Services like Skype and WhatsApp allow for free calls to other users, and you can even purchase a local incoming number, if you want grandma to be able to call you.

Services like Apple’s iMessage and FaceTime allow you to communicate instantly back home in exchange for a few megabytes of prepaid SIM card data. This option is cheaper than purchasing an international plan from your home cell phone provider, but you will need to make sure that your phone is unlocked prior to departure.

When I first moved overseas, my phone was locked. I didn’t even know that it needed to be unlocked! After a bit of negotiating with my phone service provider, though, I was able to get an unlock key for my device. That allowed me to use any SIM card that will fit the device. If you can justify to the phone company that you need your phone unlocked (moving overseas, important business trip, extended vacation), then you’ll save money on your phone bill and have the security and convenience of a cell phone, no matter where you are.

6. Bring Your Devices, But Also Your Adapters

This is one of those money-saving tricks you’ll need to address before you ever leave the country. Before you take off, buy an adapter to fit your device and your destination’s power grid. Cell phone producers like Apple and Android offer travel kits with multiple adapters for several nations, such as those in the EU and Japan.

Adaptelec offers a database, where you can determine what type of adapter and voltage you’ll need for your electronics during your travels. If you’re making a long-term move, consider purchasing power converters for your electronics. You’ll find that many kitchen appliances and home electronics can be more expensive outside of the United States, so take what you have if you can obtain some step-up or step-down transformers.

Moving to an area that has a large population of people from your home country? Then chances are, you can find someone willing to sell you their power transformers at a reduced price as they get ready to move on from the area. You can also look on eBay for used accessories that people no longer need after returning home.

7. Look Into City Passes

Some cities have special passes that offer access to museums or landmarks, provide public transportation, and even give discounts on food and services. These are usually great ways to experience an area en totale, and save quite a bit of money in the process.

For example, cities may offer things like Berlin’s WelcomeCard, which gives you access to public transportation as well as discounts on over 200 offers. Oh, and you’ll snag a free city guide and map, which will be handy for getting around.

Be sure to search and see if your destination has a similar offer, which can help you cross off all of the exciting attractions and save cash along the way.

8. Do As the Locals Do

The locals in your destination area are a great resource for finding the best and the most affordable, from food to attractions and activities. The rule of thumb when visiting a new area is to do as the locals do.

This means asking around about the best hole-in-the-wall restaurants. Not only will you avoid paying tourist area prices, but you’ll probably find some of the best-tasting food in the process. Locals can also be helpful when it comes to finding free attractions, local sports games, fun parks or landmarks, and other activities off the beaten path.

9. Get an International Driver’s License.

The freedom that comes from being able to drive across Europe (or any other destination) is immense. Before you move or depart on your next European vacation, stop by AAA and purchase an international driver’s license (IDL).

Most foreign rental companies in Europe don’t distinguish between your stateside driver’s license and IDL, but if you get pulled over by the national police, the IDL will cover you. Renting a car and splitting the bill can be a fun, convenient, and relatively inexpensive means of moving you and your travel buddies.

Keep in mind that you’re going to pay higher gas prices, though, and never forget that they sell gas by the liter across the pond! I recommend that you get your IDL even if you don’t plan on driving – it’s always good to have a contingency plan in case you need to adjust your mode of travel.

10. Take the Train

Train travel is relaxing, albeit slower and less convenient than using a car. If you spend some time researching your destination’s rail options, though, you won’t be disappointed.

The German Rail Pass is a phenomenal option that will carry you from Wurzburg to Munich to Berchtesgaden for as little as $30/day. If you want to travel across several countries, especially over the long-term, consider purchasing a Eurail Pass before you leave. This is the most cost-effective and flexible option, and is great if your plan is to see as many different places as you can. Just make sure to buy it early enough, so you have time to receive the pass in the mail.

Another option for traveling via rail is to catch a train to a border city and switch train services when you switch countries. International tickets will generally be more expensive than buying two separate tickets from two neighboring countries.

11. Short Flights Can Be Incredibly Cheap

For Europe, the Schengen Agreement allows you to move freely across most of the continent without the need for a visa or extensive border checks. Because of this, flying is relatively painless, and U.S. citizens can move across international borders on their passports without issues. The best part? Flights are usually very affordable both for long- and short-haul travel.

Don’t be afraid to fly again once you reach your destination, if it will reduce the time you spend traveling and maximize your time of relaxation. If you’re moving overseas, discount airlines are the perfect doorway to cheap getaways on long weekends! Airlines such as Ryanair offer services across the continent, and many countries have national airlines with cheap in-country service. While airlines like Ryanair are no-frills options, they will get you where you need to do for cheap — I once flew from Cologne, Germany to Naples, Italy for only $33!

Want to know more? Here’s a list of Rick Steve’s discount national airlines, which is a great resource.

12. If It’s Free, Do It

The best way to save money in another country is to find things that don’t require you to spend any. Just like back home, there are always plenty of activities to be found that are entirely no-cost, no matter where you go.

This will take some research, but a simple Google search, a flip through a local book like Traveling on a Shoestring, or just ask the locals. You’ll learn about festivals, parks, sporting events, shows, free museum days, and more. You’ll get to enjoy something that you might not have done otherwise, without spending a penny.

Get Going

Now that you how to stretch your dollar, it’s time to pack your bags.  Remember these tips and you’ll be able to save while you live and travel overseas.

How do you cut costs when traveling abroad?

Topics: Money and Life • Travel

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Review of RushCard Prepaid Cards – An Excellent Choice for the Unbanked

{#TransparentTuesday} Why Cardio?

There are 46 high peaks (aka big-ass-mountains) in the Adirondack mountains, and people who like outdoorsy shit in upstate NY often work toward the goal of climbing all 46.

I am not one of those people (#indoorsy for life) but my mom is– and at the end of September, she’ll be bagging her final 4 peaks on one big trip.

I’ve only backpacked once, and it was one of the most miserable experiences of my life. The trails were way too hard, my friends were going way too fast, my heart rate was so high the whole time so I felt like I was dying, and I absolutely hated sleeping outside.

I have never felt so trapped and panicky in my life, and while they kept insisting I would learn to love it… I never did.

To this day, I can’t think of a single positive part of the experience, and I honestly had no intention of ever trying it again. But then my mom invited me (and my brothers) to join her on the trip to climb her final 4 peaks, so she could celebrate with her children at the top.

After quite a bit of hemming and hawing I decided to do it, despite the very loud voice in my head saying “noooo I caaaaan’t!”

I know myself pretty well. I don’t like to be inconvenienced or uncomfortable, I hate cardio, I hate being bad at things, and I hate feeling like I “have to” finish something. That said, I’m strong AF when I set my mind to something, and all I need to accomplish anything is a strong “why.”

Luckily, I have one. There’s absolutely no way I would do this kind of trip for myself, but I can sure as hell do it for my mom. So I said yes.

Then I started doing a fuck-ton of cardio.

I haven’t done cardio in many years, because I don’t enjoy it and it makes me feel shitty. My typical workouts involve 20-40 minutes of lifting weights with lots and lots of resting between sets to keep my heart rate down.

I realized long ago that doing regular cardio just didn’t work for me. It made me starving all the time, and insatiable when I ate and it gave me wild blood sugar/mood crashes, and I had to constantly motivate myself with mental rallying and willpower tricks.

It also felt like a trap. Your body gets used to whatever you do regularly, so if you do an hour of cardio everyday your body eventually adjusts and expects an hour of cardio every day. Unlike lifting and HIIT training which can get harder every time you do it, steady-state cardio is pretty much always the same, so in order to maintain results or see better results, you just have to keep adding more cardio. Basically your reward for doing lots of cardio is that you have to do even more cardio. No thanks lol.

Of course, this was all back in the day when I was working out pretty much exclusively to look good.

I was trying to get as lean and toned as possible. As a personal trainer, I experimented with many different kinds of programs and discovered that cardio just didn’t give me the kind of body I wanted. When I gave up cardio completely I was much happier and more intrinsically motivated (because I loved lifting heavy), my mood stabilized, my intense cravings went away, I stopped being hungry all the time and needing to eat 6 meals a day, and I was able to enjoy the satisfaction of fullness after every meal.

For my body, zero cardio meant I looked lean and felt my best. I’ve been more or less riding the zero-cardio train for many years now, because there was never any reason to challenge it.

Now, there is a reason.

I’ve been training for this backpacking trip by changing the way I exercise, doing circuits without rest and adding 20-40 minutes of cardio three to five day per week with things like hill climbing, stair climbing, and hiking.

It might not seem like a big deal to some people, but it feels really, really different in my body.

Within days of this shift, I started feeling hungrier, and crankier. I crave sugar constantly, and I never quite feel full. I actually enjoy the feeling of sweating during a workout (something I never did before), but it still requires me to get mentally psyched up for every workout.

It’s fascinating to watch all of these changes take place with a completely different “why” than I had the last time I regularly did cardio. Back then I was trying to look a certain way, so those changes were super frustrating.

This time around I’m just trying to build up my capacity for a specific challenge, so those changes don’t matter to me at all. What matters to me is that I’m seeing progress.

When I hike outdoors now, I go faster and it feels easier. I’m building up and adding time to each workout without feeling completely exhausted. I’m proud of my progress, and I love knowing that every single workout will make the backpacking trip a tiny bit easier so I can enjoy spending the time with my family in the mountains.

What matters to me is that I’ll be there to celebrate with my mom at the top of her final peak.

This is one of the reasons I always encourage people to come up with a different and more interesting “why” for exercise, other than changing the way their body looks.

Pick a goal that interests you and pursue it.
Choose a sport or activity that makes you feel cool and get good at it.
Train for something challenging that excites you.

Not only will you be more likely to actually accomplish your goal this way (losing weight simply isn’t motivating enough to be sustainable for most people) but you’ll also naturally build appreciation for, trust in, and pride about yourself and your body in the process.

Hell yes.

Now if you’ll excuse me I have a new episode of Orange is the New Black to watch while hauling ass on an elliptical.

<3
Jessi

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NUDE by Battistella in Calgary

NUDE by Battistella is a new condo development located in Calgary’s most dynamic neighbourhood, the West Beltline. This project will offer 177 homes, sizes range from 400 sqft to 800 sqft. Inspired by timeless architecture, NUDE reflects a considered aesthetic where symmetry and articulation combine to create a simple and calm elegance.

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NUDE by Battistella in Calgary

NUDE by Battistella is a new condo development located in Calgary’s most dynamic neighbourhood, the West Beltline. This project will offer 177 homes, sizes range from 400 sqft to 800 sqft. Inspired by timeless architecture, NUDE reflects a considered aesthetic where symmetry and articulation combine to create a simple and calm elegance.

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Langford Towers in Victoria

Rare opportunity to own two premier new purpose-built rental building in British Columbia’s fastest growing municipality. Langford Towers features two buildings on separate property titles. A shared underground parkade with 137 spaces joins the buildings and includes right-of-way easements. Offers will be considered for Tower A, Tower B or both buildings combined. Preference will be given to offers for both buildings combined.

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Park George by Concord Pacific in Surrey

Park George by Concord Pacific is a new twin tower condo development located in the heart of Surrey. This project is the final phase of Concord Pacific’s Park Place community, features high tech residential amenities unique to Surrey city centre. Located in close proximity to transit, parks, shopping and urban conveniences, discover the exquisite offerings of Park George.

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Langford Towers in Victoria

Rare opportunity to own two premier new purpose-built rental building in British Columbia’s fastest growing municipality. Langford Towers features two buildings on separate property titles. A shared underground parkade with 137 spaces joins the buildings and includes right-of-way easements. Offers will be considered for Tower A, Tower B or both buildings combined. Preference will be given to offers for both buildings combined.

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Park George by Concord Pacific in Surrey

Park George by Concord Pacific is a new twin tower condo development located in the heart of Surrey. This project is the final phase of Concord Pacific’s Park Place community, features high tech residential amenities unique to Surrey city centre. Located in close proximity to transit, parks, shopping and urban conveniences, discover the exquisite offerings of Park George.

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Finding Hidden Credit Card Perks & Benefits

Are you using your credit card to it’s full potential? These are the best credit card perks you might not know about and the fine print to watch out for.

In This Article

• Price Protection
• Extended Warranty
• Return Protection
• Trip Coverage
• Delayed/Lost Luggage Protection
• Cell Phone Coverage
• Roadside Assistance

There are plenty of good reasons to pick one credit card over another. You might get an awesome cash back rewards rate, allowing you to net hundreds of dollars a year on the things you’re already buying. Or maybe you want to utilize a 0% balance transfer offer to pay down debt or make a big purchase without accruing interest charges.

However, credit cards today include quite a few additional perks, which could save you money and offer added protections. While they’re not exactly secret, many of these perks go unknown and underutilized by cardholders. This means unnecessarily leaving money on the table!

Let’s talk about a few of the best “hidden” perks offered by credit cards today, as well as some of the pitfalls you’ll need to watch out for when you go to use them.

Credit Card Price Protection

One of my favorite credit card perks is price protection. It’s offered on both my Chase Sapphire Preferred and my Citi® Double Cash Card – $150 Cash Back Offer (among many others), so I enjoy this benefit all around.

If I buy an item and then find out a few weeks later that the price has dropped, I’m usually pretty irked. Luckily, these cards have my back. While some stores will offer price adjustments on their products, this usually doesn’t apply for more than 14 days. Both my Citi and Chase cards, however, offer this protection for much longer. Chase currently has price protection for 90 days, while Citi’s Price Rewind feature will check for lower prices for 60 days from the purchase date.

The features are a bit different (and other cards may have their own policies in place). With Price Rewind, for example, I register my purchases online. Then, if a lower published price is found anywhere, I get the difference credited back to my account. With my Chase card, the refund also applies to published prices found in print, on the web, or in store. However, it’s up to me to find those price drops and submit a claim.

What to watch out for: There are limits to price protection, as you’d imagine. You’re typically limited to a dollar amount on each individual claim/adjustment, usually ranging from $200-500 per item. You’re typically limited to an annual maximum, as well. This can vary from $1,000 a year up to $2,500+, but be sure to read your card’s fine print to be sure.

You’ll also need to pay attention to the card’s policy regarding the length of time covered, ensuring that you file your claim or register your purchase in time to take advantage of the price drop. You should also know whether this is an automated process (like with Price Rewind) or if you’ll need to initiate each claim.

Chase Sapphire Preferred will be eliminating its Price Protection feature at the end of August 2018. Purchases made after this date will be ineligible for adjustments. There’s no word yet if that feature will be replaced by anything similar.

Cards that offer price matching: The Citi® Double Cash Card – $150 Cash Back Offer is probably my favorite in this category, for its Price Rewind feature. It’s automated, so you just have to enroll the purchase and let their program do the work at finding you a refund.

Credit Card Extended Warranty

If you buy an item and it breaks shortly thereafter, the company (or the retailer) is usually pretty good about offering a replacement. This is especially true with purchases like electronics. So, if your two-month-old coffeemaker suddenly stops brewing (through no fault of your own), you can expect that the company will likely step in to make it right.

This factory warranty varies from product-to-product, usually capping out at a year of coverage. So, what if that new $2,500 television glitches and goes black on day 375? Well, if you didn’t buy the store’s extended warranty coverage (probably offered for a couple hundred dollars at the time of purchase), you’re out of luck. At least you are if you didn’t use a card that offers an extended warranty benefit.

Credit cards with extended warranty benefits can save you both money and headache on your purchases, covering everything from your new electric toothbrush to the entertainment center in the man cave. You don’t typically need to enroll each individual item, either. If you bought it with the card in question, your purchase is covered.

If the item breaks or has a defect within the manufacturer’s included warranty, they will cover it as usual. However, if you have an issue beyond the included warranty timeframe, your credit card may be able to help. The extended warranty protection most often doubles the manufacturer’s included warranty (typically with a one-year limit), giving you some extra wiggle room in case Murphy’s Law kicks in.

What to watch out for: Limits–there are always limits. If you buy an item that only includes a three-month warranty, that’s how long you can expect your credit card perk to last–another three months. If your item includes a year-long warranty, your card may cover anywhere from another three months to an entire year, depending on the item and the card product.

There’s almost always a maximum coverage amount per year, which can vary greatly between the credit card products out there. You also won’t see your credit card company cover the purchase if the item:

• Is damaged in a natural disaster
• Isn’t reasonably cared for
• Is damaged by a power surge
• Was rented or preowned
• Is a permanently-installed fixture (like windows or carpeting in your home)

Cards that offer extended warranties: One of my favorites is the Blue Cash Everyday® Card from American Express, which offers to either match the manufacturer’s warranty or add an additional year, depending on the original warranty length.

Credit Card Return Protection

Have you ever waited a little too long to return an item to the store, showing up on day 32 only to be turned away at the register? Or maybe you lost the box that the item came in, and the store refuses to accept your return?

Well, depending on the credit cards you carry, you might still be covered, thanks to return protection.

This protection extends the length of time that you are able to return your purchases, allowing you some form of recourse if the store has a very limited return policy (or nonexistent one), if you lose your receipt/box, or if you wait too long to make your return. Some cards will allow you to return your item up to 90 days after purchase–something that you’ll rarely find offered by retailers directly.

The specifics regarding return protection coverage vary from card product to card product, and are subject to limits both in time elapsed and purchase price. For example, American Express offers return protection for 90 days after your purchase is made, with a limit of $300 per item and $1,000 a year. The Citi Prestige Card also gives you 90 days, but with higher limits of $500 per item or $2,500 a year.

What to watch out for: Of course, you’ll need to pay attention to the timeframe offered for coverage. Go past that limit and you’ll be out of luck with your return.

Some cards require you to enroll in return protection, which you can usually do through the card’s portal. If you’re not enrolled in coverage before making the purchase in question, you probably won’t be able to take advantage of the protection.

There are almost always limits regarding the types of purchases covered, too. For instance, you won’t be protected on the following purchases:

• Jewelry
• Consumables (such as food, perfume, makeup, etc.)
• Tickets (concerts, sporting events, and the like)
• Firearms or ammunition
• Formal wear
• Plants or animals

Purchases on auction sites like eBay usually aren’t covered, either, nor are secondhand buys (like antiques).

Cards that offer return protection: All American Express and Mastercard products, such as the Citi® Double Cash Card – $150 Cash Back Offer.

Trip Coverage

Every time I buy a plane ticket or book a hotel online, I’m given the option to purchase trip protection for an added cost. This usually ranges from $30 to upwards of $150, depending on what I’m booking and for how many people. The coverage offers a full or partial refund if I have to cancel my trip for one of the covered reasons, including a natural disaster or death in the immediate family.

Good thing I carry the credit cards I do, though, because I get this kind of trip coverage gratis.

My Chase Sapphire Preferred, for instance, will cover non-refundable and non-reimbursed payments made toward flights, hotels, rental cars, cruises, etc. if me or my family need to change our plans. Covered reasons include severe weather and natural disasters; injury, illness, or death (you, your family, and even your pet!); jury duty; or terrorist attacks, among others.

When Hurricane Irma hit last September–the same week that we were scheduled to fly out to Walt Disney World–Chase was there to cover our bookings if we needed to move our trip. (We decided to brave it and go anyway, and had an incredible time.) I wish I’d carried that card a couple years ago when both of my children woke up with 103 degree fevers, the morning we were slated to fly out to Colorado for our annual ski trip. Our flights were booked on American Airlines–who was very unsympathetic to our plight–and I lost $1,600 in nonrefundable fares that morning. It was painful.

What to watch out for: Covered reasons are obviously limited. You can’t just decide to change plans and expect your credit card to cover your travel changes. Be sure to read the fine print to see what is covered and what you need to provide in order to prove that you’re protected (a doctor’s note, etc.).

Some cards require that the entire purchase have been paid for with the card in question. This means that if you split your airfare between two different credit cards, it might not be covered (or it might be limited to the amount paid on the card offering coverage). Keep in mind that if you book an award flight using points, but pay the taxes and fees with your trip coverage card, you’ll usually still be covered for the full amount.

You’ll also have a coverage limit, set both per person and per trip. So, if you paid for a $30,000 trip-of-a-lifetime and need to cancel, you might still be out quite a bit of money.

Cards that offer trip delay/cancellation insurance: The Chase Sapphire Preferred is one of my favorites, offering up to $10,000 in coverage for trips that need to be cancelled, and up to $500 for each ticket/traveler whose itinerary is delayed.

Delayed/Lost Luggage Protection

Yet another reason why I love my travel credit card: baggage protection. It has come in handy for me many times, even as recently as last month. Some cards offer lost or damaged baggage protection, others offer delayed baggage coverage, and a few offer both. (I’m lucky enough to carry a card that offers all of the above: the CSP.)

When your bag doesn’t show up on the belt at your destination, you’re not usually offered much recourse by the airline. You’ll get a promise that they will try to locate it in a timely fashion and deliver it to you, but then sent on your way in the interim, empty-handed. If you had a meeting and need to now buy clothes, don’t have toiletries, or are lacking pajamas for your bag-less overnight stay, it’s an added expense out of your pocket. Well, unless your card offers bag delay protection.

Some cards will offer you a daily stipend to cover things like clothes, shoes, personal products, etc. if your bag is delayed by 6-12 hours or more. This is usually capped out at a certain number of days (I usually see it at 5 days) or dollar amount.

If your bag is lost, some cards will step in to reimburse you for the loss, up to a certain amount. This will help replace not only the luggage itself, but also the clothes, shoes, and personal items that you’ll now need to replace. This coverage typically kicks in after the airline’s reimbursement is made.

What to watch out for: In order to take advantage of delayed or lost baggage coverage, you’ll need to report your bag is missing right away. This means going to the airline counter and getting a claim slip before ever leaving the airport. Without that, your claim will likely be denied.

Be sure to save receipts for any replacement items you purchase, as you’ll probably need to provide them for your claim with your credit card company. If you have photos or receipts for any of the items that were in your bag, be sure to pull those up. They’ll help your case. Also, your credit card company probably won’t reimburse you further if the airline steps in to pay for your claim in full. This is usually secondary coverage for lost bags, meaning that if you claim $4,000 in losses and the airline pays you $2,500, your card will help cover the rest.

And, of course, this protection is usually only offered if you pay for the carrier’s fare and/or baggage fees with the card in question.

Card that offers delayed/lost baggage coverage: The Capital One® Venture® Rewards Credit Card offers coverage for lost bags.

Cell Phone Coverage

How many times have you dropped your $700+ smartphone and cracked the screen, accidentally knocked it into the tub, or gotten it stolen off of the table at the bar? Between my friends and me, the count is pretty high. Thankfully, many credit cards today offer cell phone protection as an included perk.

Cell phone coverage varies. Some cards will only protect you if your phone is stolen, and there’s a police report filed. Others will step in and help pay for coverage (or your existing insurance plan’s deductible) if it’s damaged. There’s usually a cap to the amount of coverage, as well as the number of times that you can use the benefit each year.

Depending on the card, you will need to have purchased the phone with the credit card, pay your bill with it each month, or both in order to be protected.

What to watch out for: Credit card cell coverage comes with caveats (say that three times fast). You’ll definitely need to read the fine print to make sure that your smartphone is protected when you need it most.

Coverage can be limited to anywhere from $100-$800 per claim, and you’re not usually allowed more than 1-2 claims per year. You typically need to be paying your cell phone bill with that credit card each month in order to be protected, and many also require that you have purchased the phone with the card, too.

Cell phones usually aren’t covered if they are pay-as-you-go, were bought secondhand or off of an auction site like eBay, or if the circumstances surrounding the loss are questionable. As mentioned, you may need to provide a police report along with your claim, and of course, phones aren’t covered if you break/lose it while engaging in illegal acts, riots, or acts of terror. You also aren’t likely to be covered if your issue is with simple wear-and-tear, like a charging port going bad.

Cards that offer cell phone protection: The U.S. Bank Visa® Platinum Credit Card offers up to $600 in protection per claim, for a maximum of $1,200 per year. Many Wells Fargo cards, including the Wells Fargo Cash Wise Visa® Card, offer the same limits to their cell phone protection.

Credit Card Roadside Assistance

I have USAA auto insurance, which offers me roadside coverage with my policy. Even if I didn’t, though, I would still have the peace of mind that comes with included roadside assistance from a few of my credit card companies. While they’re not quite as comprehensive as my insurer’s coverage (or that of a company like AAA), it’s a nice safety net to have just for carrying the card.

Most credit card companies will offer some sort of roadside help if you’re stranded with a flat tire, dead battery, run out of gas, or need a tow. The actual roadside service isn’t free, but the credit card company will facilitate the service call for you and often has negotiated rates that can save you money over calling the tow company yourself.

If you have a newer vehicle, this might be cheaper than paying an annual fee for a membership to AAA. With AAA, you’ll pay each year even if you don’t use the service at all. With your credit card’s benefit, you will only pay if and when you need assistance. This could potentially save you a fair amount of money over the years, for the same peace of mind in a pinch.

Knowing that you have roadside assistance is valuable in and of itself. You don’t have to worry about getting stranded in an unknown town or having to Google tow trucks in the area the next time you get a flat tire. Lock your keys in your car at the mall? You don’t have to make twenty calls to find the right company; just call your credit card company and you’re set.

What to watch out for: While the roadside assistance is free, the actual service for your vehicle is not. The cost of the service call, and whatever you may need (like a few tanks of gas or a tow), will be billed to your credit card automatically. While your credit card company likely has special rates for cardholders, you won’t know how much that service is going to cost you until you need it.

If you have a vehicle that’s prone to break-downs, you may end up spending more in a year than you would utilizing a membership like AAA. However, your credit card’s roadside assistance is free, so there’s nothing wrong with keeping it as a backup plan.

Cards that offer roadside assistance: The Premier Rewards Gold Card from American Express not only offers roadside assistance, but they will even pay for covered services–like a tow up to 10 miles, jump start, and changing a flat tire–four times a year, if needed.

Be sure to read your cardholder benefits booklet when you get a new credit card, and look into the services that your current cards may offer. You might find that you can save yourself a lot of headache and money by utilizing the free perks available to you.

Topics: Credit Cards

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Credit Cards with the Best Travel Insurance

Trips and vacations can cost thousands, and cancelling them might cost you more. That’s why we’ve compiled a list of credit cards that offer the best travel insurance. Here’s what they offer.

Credit cards are excellent for many reasons. They allow you financial flexibility, earn you rewards on the things you already buy, and even offer protection on many of your purchases. One of the best benefits they offer, though, is travel protection.

Different credit cards provide different levels of travel protection, all the way from delayed trip reimbursements to life insurance coverage on your travels, baggage coverage, and trip cancellation protection. If you want to protect not only yourself and your belongings but also the money paid for your next vacation–without having to pay out of pocket for a pricey travel insurance policy–using a credit card with travel insurance is a great idea.

So, which credit cards offer the most comprehensive coverage and what sort of reimbursements can you expect if your plans change, you’re injured while traveling, or even if your bags just get delayed for a day or two? Let’s take a look at the best products out there and how they can protect you for no additional cost.

Types of Protection

There are a few different degrees of trip protection coverage that credit cards will often provide. Here’s a general look at the differences between them, and the best credit cards for each.

Travel Accident

The most commonly-offered benefit in regards to trip coverage is travel accident protection, which is also referred to as common carrier insurance. If you use your credit card to book your fare on a common carrier (such as a major airline, bus line, cruise line, or railway), you’ll often be automatically protected against travel accidents.

What are travel accidents? The fine print varies from one card to the next. But you can typically expect this type of coverage to protect you, your family members, and even friends if anyone were to be seriously injured, dismembered, or killed. As long as you’re all traveling together and paid with the card in question. In the case of a plane crash, freak accident, etc., the credit card company would pay out to your loved ones left behind.

Coverage ranges from a few thousand dollars for loss of limb, sight, or hearing, all the way up to $1 million with some credit cards for loss of life. While this is a coverage type that you hope to never use, it’s good to know that your loved ones would be protected (in addition to any life insurance policy you may hold), were the worst to happen.

Recommended card for travel accident protection: Chase Sapphire Reserve® offering up to $1,000,000 in coverage.

Be sure to read the policies of your individual credit card product(s). Some credit cards require you to have paid the entire fare with that card in order to be eligible for coverage; others just mandate that you pay at least a portion of the travel expense on their card. There are also other limitations to the coverage, such as exclusions for acts of war or participating in illegal activities.

Learn more about this card and other travel rewards credit cards

Baggage Coverage

Most of us have been there: we arrive safely at our destination and head down to baggage claim, only to watch all of the other bags appear on the belt… except ours. Well, if your luggage is delayed more than a few hours, your credit card may step in to help out.

Baggage delay coverage is an excellent benefit to have when you travel. As long as you purchase the baggage fees with said card (or the airfare, if checked bags are included), your belongings will be protected. If you then arrive at your destination but your luggage does not, and it takes a while to return everything to you (typically between 3 and 12 hours), many credit cards will step in to reimburse you for necessary expenses.

You can use this reimbursement amount to purchase new clothes, toiletries, and even cell phone chargers. There are exceptions, of course: some airlines won’t cover items like contact lenses, travelers checks, passports, or even dentures. There is also a dollar limit per day and an overall cap per claim; many credit cards will give up to $300-500 total for a luggage delay.

In order to file a claim, you’ll need to report the missing luggage to the airline and get documentation before leaving the airport. You’ll also be required to submit receipts for the items purchased while you were waiting for your bags to be delivered.

Best credit card for baggage delay coverage: Chase Sapphire Reserve® offers up to $500 in coverage for a baggage delay of more than 3 hours (it covers both the cardholder, their family members, and travel companions)

Be sure to read your card’s fine print to see what is or is not included, the requirements for a claim, and how much you’ll be reimbursed each time your bags are delayed.

Travel Delay

On a similar note, your credit card may offer certain protections if your trip is delayed due to circumstances outside of your control. The coverage, called trip delay reimbursement, is available through a number of excellent credit card products, and can be your (free) saving grace in the case that your travel plans are pushed back.

Let’s say that you have a trip planned with multiple flight legs. Your first flight is delayed and you, in turn, miss the connecting flight. The next flights out are overbooked or don’t leave for many hours–maybe even the next day! You’re stuck either grabbing a hotel room for the night or sitting in the airport for a day, finding high-dollar meals in the food court. So, what do you do?

Well, you can look into filing a travel delay claim with your credit card, for starters. While only a handful of cards offer this protection, trip delay coverage is wonderful to have. It will reimburse you for expenses related to a common carrier delay, such as overnight hotel accommodations, meals, toiletries, and even medications.

Expenses will be limited to those not already reimbursed by the carrier. For instance, if the airline offers you a hotel voucher (that you use) or pays for your dinner, you can’t then claim that expense with your credit card.

Best credit card for trip delay reimbursement: Chase Sapphire Reserve® ($500 in coverage per ticket after a 6-hour delay)

Again, be sure to read your card’s fine print. This type of coverage typically excludes traveler-error delays, such as oversleeping or getting stuck in traffic. You’ll also need to have paid for the ticket either in part or in full with the card in question, and certain expenses won’t be covered even under an approved claim.

Trip Cancellation Coverage

A few years ago, I woke up at 4am to a sick child at my bedside. We were scheduled to fly out for our annual Colorado ski trip only 6 hours later, but both of my sons wound up with a doozy of a virus (and 103 fevers!). Even though my kids were obviously sick, the airline had little sympathy; it cost us $1,000 to move our trip down by a few days to allow the little ones to feel better.

Had I known about trip cancellation coverage back then, I would have saved myself a lot of frustration (and be $1,000 richer).

Trip cancellation coverage will protect a number of travel-related expenses if your trip needs to be nixed. Reasons could include illness (yours, a child or spouse’s, or with some cards, even a pet’s), terrorism, weather, a natural disaster, death in the family, and even a summons for jury duty, depending on the card in question.

Some cards have limits of $1,500 for cancellation coverage (though this would have been more than welcome in my past situation!), while others can provide up to $10,000 in protection. This means that whether a hurricane is brewing in Florida right before you travel to Disney, your child wakes up with a high fever the morning of the flight, or you are required to perform your civic duty in the courtroom, your trip’s investment is protected.

As always, cards have their own policies. You can expect most of them to cover trip expenses such as airfare, cruise/bus/train tickets, rental cars, prepaid hotel stays, and more, as long as you used the card in question to book them. Documentation is required, in the form of a doctor’s note, death certificate, etc. While there are always exceptions and limits (such as pre-existing medical conditions), booking your next vacation on a card that offers trip cancellation coverage is a great idea.

Best credit card for trip cancellation coverage: Chase Sapphire Preferred® Card, with up to $10,000 per trip in protection and a slew of covered reasons.

Rental Car Coverage

If you’ll be booking a rental car on your next trip, you’ll likely be offered the option to purchase collision coverage. While this is usually offered for a modest cost per day, it’s an expense that you don’t need to even think about if you carry certain credit cards.

Some credit cards today will offer rental car coverage that protects you whenever you get behind the wheel of a rental vehicle, as long as you pay for the rental with said card. Coverage is either primary or secondary to your everyday auto insurance coverage, meaning that some cards will step in immediately following a claim while others will only kick in once your primary policy pays its share. However, this added coverage (at no extra cost to you) means less money out of your pocket if an incident occurs.

Certain vehicles are excluded from coverage, including many luxury and exotic vehicles. There are also exclusions involving circumstances where the driver is involved in an illegal activity, is street racing, etc.

Best credit card for rental car coverage: Chase Sapphire Preferred® Card  offer primary rental car coverage

Be sure to read your card’s fine print to note any exclusions to coverage. You’ll need to decline the rental car company’s collision coverage and, depending on whether your card offers primary or secondary coverage, you’ll be reimbursed immediately following an accident or following your primary insurer’s payout.

Credit cards with travel protection are incredible to have. While their coverage is limited, it provides you with a number of additional protections every time you travel, without costing you a single extra penny.

Be sure to note which cards offer which types of travel protection, and choose your payment methods accordingly. With the right plastic in your wallet, you’ll be covered whether your flight is delayed, you wreck your rental car, or if your dog gets sick and you need to cancel a vacation.

Topics: Credit Cards

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Stockpile Review 2018 – Giving the Gift of Stock

Quicken vs. Mint – Which is Best for Your Budget in 2018?

Today’s budgeting tools make managing your money easy. While some are free, others have so much more to offer if you’re willing to pay a small fee. Quicken and Mint are great examples. Let’s look at which one is best for your budget.

In This Article

• What Quicken & Mint Both Offer
• Quicken Features
• Mint Features
• Budgeting
• Synchronization
• Pricing
• Customer Service & Education
• Security
• Mobile Access
• Summary
• Bottom Line – Mint or Quicken?

Quicken and Mint are two of the most popular budgeting software systems available. While they’re similar apps, each has its own specializations. And perhaps the biggest difference between the two is that while Quicken is a paid service, Mint is completely free.

Does that make Mint the better of the two systems? Not necessarily. Quicken offers more services than Mint, which may more than justify the fee you’re paying for the service.

Or not.

Let’s look at the two side-by-side–Quicken vs. Mint–and see how they stack up against each other.

What Quicken & Mint Both Offer

The basic features of both platforms are very similar. Each provides budgeting, enabling you to know how and where your money is being spent. They do this by enabling you to link your various financial accounts–bank accounts, loans, credit cards, investment accounts, etc.–and automatically importing transactions. This enables you to synchronize your entire financial life on one platform.

Each works on multi-devices. You can set up either account on your laptop, but also access it from your smartphone or other device.

Both also provide you with access to your credit score, as well as regular email or text updates, keeping you informed of the latest developments and trends in your finances.

Quicken Features

Quicken’s main strength is that it’s one of the most comprehensive personal financial apps available. In fact, it covers the gamut of personal financial activities, minimizing dependence on other apps to provide supplemental services.

One of the major advantages Quicken provides is that your information is stored on your own computer, rather than on Quicken itself, or the cloud. Yes, storing data on the cloud is becoming more common. But being able store the information on your own computer eliminates the security risks associated with cloud storage.

Quicken has four separate packages available, each with its own services. Some of the major services offered include:

Quicken Bill Pay

Pay any bill directly from any checking account included on the platform. The service is available only on the Premier and Home & Business plans.

Track the Market Value of Your Home

Enter your home address, and Quicken will continually update the estimated market value of your home. Once again, this feature is available only on the Premier and Home & Business plans.

Quicken Investment Features

On the Premier and Home & Business plans you can:

• Track loans, investments and retirement accounts
• Evaluate your investments with Morningstar’s Portfolio X-ray tool
• Compare buy-and-hold options with improved portfolio analysis
• See how your returns compare to market averages
• Track investment cost basis and create Schedule D tax reports
• Make better buy/sell decisions with market comparisons

Business & Property Management Features

These are available only with the Home & Business edition, and include:

• Categorize and separate personal and business expenses
• Track your business profit loss and tax deductions
• Run Schedules C and E reports to simplify tax time
• Create and email custom invoices and estimates
• Manage lease terms, rental rates and security deposits
• Track outstanding and paid rents
• Add payment links directly to invoices
• Save rental documents directly to the app

Credit Score

Your credit score is provided by Equifax. The score provided is the VantageScore, and is not your actual FICO score (this is a common practice with free credit score providers). The negative to the service is that your score is only updated quarterly (most credit score services report on at least a monthly basis).

TurboTax Tie-in

You can export your Quicken data directly into TurboTax for tax preparation.

Mint Features

Mint is an online personal finance app that brings all your financial information together on one platform. You link your various financial accounts to Mint, and each time you visit the site the information is automatically updated. It provides a snapshot of your financial information, including graphs and charts that offer visual presentations.

Features offered by Mint include:

Track Bills

Mint enables you to keep all your bills organized on the platform. That includes regular payments, like rent, utilities and loan payments, as well as variable expenses like paying the babysitter. The app will indicate both the due date and the payment amount. You can also get bill reminders, to let you know what’s due, how much and when. Bill reminders can be sent to your mobile phone.

The service also provides alerts letting you know when your funds are getting low, or if there is any unusual or suspicious activity in your accounts. The app will even let you know how much money you’re spending on fees, such as ATM fees.

Investment Tracking

Mint enables you to include taxable brokerage accounts, mutual funds, IRAs and 401(k) accounts. You can even compare your own account performances to various market benchmarks to see how well you’re doing. They also have a fee analyzer service, that displays fees being paid to investment advisors, brokerages and even 401(k) providers. They’ll identify the ones considered unnecessary, to maximize the return on your investment.

Credit Score Access

Mint provides your credit score from TransUnion. They will also provide you with information telling you how your score is calculated, and how you can improve it. You’ll get credit alerts whenever TransUnion receives new credit information from creditors.

Mint Find Savings

Through this feature, Mint enables you to find better deals on a wide variety of service providers. They can help you find better deals with bank accounts, credit cards, brokerages, retirement plans, insurance and loans.

Based on your financial situation, they’ll make recommendations of specific providers under each category. This enables you to compare the various offers available to you, allowing you to select the one that works best. The offers are quite extensive, giving you the widest possible choice of provider options.

Budgeting

Quicken

Quicken offers budgeting on all four plans. You can create a budget to track your spending, categorize your expenses automatically, and easily export your data directly to Excel. All your bank and credit card accounts are available on the same platform.

The app sets up a realistic household budget, which is based on your spending history. You can customize spending goals, making it easier to pay bills, and plan for the future. The platform forecasts your balances, provides you with reminders to pay bills, and keeps you informed of how much money you have available in your accounts.

Mint

Mint bases budgeting on your average spending per category. This enables you to create a budget based on spending patterns. You can track your spending from month-to-month, or from year-to-year. They will automatically suggest a budget, based on your spending, but you can make adjustments along the way.

Mint provides default categories for your spending accounts, but you can rename them, or even recategorize them in ways that work best for you.

The platform allows you to plan for one-time expenses, as well as recurring monthly expenses. You can also do projections to see how much money you’ll save by cutting back on a particular spending category.

Budget Winner: Quicken for having more features like the ability to export data, bill pay reminders and balance forecasting.

Synchronization

Quicken

Quicken synchronizes with more than 14,500 participating financial institutions. Account information automatically populates, but can also be entered manually.

Mint

Mint allows synchronization with linked financial accounts, but you can also enter the information manually. As a free service, it’s automatic synchronization is not always entirely effective.

Synchronization Winner: Quicken

Pricing

Quicken

Quicken offers four different packages, each with its own pricing structure. The packages and pricing, as well as the specific features they offer are as follows:

Quicken also provides a 30-day money back guarantee if you are not satisfied with the product. You also have the option to change your plan at any time.

Mint

Mint is free to use, and it doesn’t offer various tiered plan levels. But in case you’re wondering how the site has gotten so popular without charging fees, there is an explanation. Much like Credit Karma, Mint makes its income from third-party vendor advertising on the site.

This takes place through the Find Savings service. If you sign up for one of the products or services offered on the site, Mint will receive a small fee for connecting you with the service provider. There is no additional charge to you by the service provider, so the entire Mint income process is completely invisible, and even irrelevant to the user.

Pricing Winner: Mint, because it’s hard to beat free!

Customer Service & Education

Quicken

Quicken offers live chat through an app called My Pure Cloud. They do not offer phone support.

They provide a FAQ page, Common Help Topics page (under the Learn & Support tab), as well as the Quicken Community, where users come to talk about app related issues. These pages can help you learn to optimize your use of the Quicken platform.

They also offer a Money Management Tips page, with personal finance related topics, including how to save money, how to stop living from paycheck-to-paycheck, teaching your children how to save and spend wisely, and much more.

Mint

Mint offers customer service through either email or live chat, which is available seven days a week, from 5:00 AM to 9:00 PM, Pacific time. “Mint Help” is also available with a limited number of topics, generally related to the operation of the platform.

Mint doesn’t offer the variety of educational resources that you can find on Quicken, but then it’s a completely free app to use.

Customer Service Winner: Mint

Security

Quicken

Quicken protects your information with the following processes:

• 256-bit encryption
• Integrity checks to ensure that a message received has not been altered after it leaves the sender
• Firewall-protected servers in the Quicken data center
• Password issued by your financial institution that you must enter each time you connect to the Internet
• Option to password protect your data files
• Information is transmitted using encrypted, secure socket layer (SSL) technology

Mint

Mint uses the following security measures to protect your information:

• Multi-factor authentication, requiring special security questions or a code supplied either by email or text
• Four digit code to view your information
• Security screenings with VeriSign to ensure security for the transfer of sensitive data
• Information in read-only fashion (Mint has no control over any of the accounts displayed in your app.)
• Option to set up your account with TouchID

Security Winner: It’s a tie. It’s clear both Quicken and Mint value your security.

Mobile Access

Quicken

Quicken’s mobile app is available for iPhone, iPad or Android devices. It is available at the App Store and Google Play. The mobile app offers all the features of the desktop version. You can use your mobile device to snap a picture of your receipts. The app provides alerts and notifications for account changes.

Mint

Mint Mobile is available for iPhone, iPad, Android mobile devices and Android tablets. The app can be downloaded at the App Store and Google Play. Mint is also available for Apple Watch.

Mobile Access Winner: It’s a tie, though Mint has better reviews. However, that could also be because Mint is a free platform.

Summary

At the core, both Quicken and Mint are budgeting apps. But it really comes down to the specific features each offers, and which you as a consumer are interested in having.

Quicken certainly offers more services, but you also have to pay an annual service charge in order to have them. Mint works well as a basic budgeting software plan, but it does lack certain basic features you might expect in that type of platform. Perhaps the most glaring absence is the bill pay feature, which ended in June 2018.

Bottom Line – Mint or Quicken?

If you’re looking for a free, no-frills budgeting app, Mint is the better of the two platforms. In fact, if it comes down between Mint and the Quicken Starter version–at $34.99–you’ll probably be better off going with Mint. Both are basic budgeting packages, and neither offers bill paying services.

If you’re looking for a personal financial platform that includes your investing activities, Mint is very limited in this regard, and will provide no more than basic services. Quicken Premier or Home & Business provide the Morningstar Portfolio X-ray tool, as well as improved portfolio analysis, and the ability to track cost basis and create Schedule D tax reports.

If you need a platform for investment management and tracking, we suggest Personal Capital. The free version analyzes your financial situation and includes helpful tools like an investment check-up and a mobile app. You’ll even get a free consultation from a licensed financial advisor. Find out more in our Personal Capital review.

Quicken Premier’s home market value tracking feature is interesting, but the information comes from Zillow, which you can easily access without the app.

The business and property management features, available on Quicken’s Home & Business version is highly specialized for those who are self-employed, and particularly for investment property owners. If either applies to you, the $89.99 annual fee for the service is an excellent investment.

Quicken also has the advantage of deeper educational resources, as well as the ability to export financial information to TurboTax at tax time.

On balance, Quicken is the better of the two services by a wide margin, particularly on the premium versions. But if all you’re looking for is basic budgeting, and the other Quicken features don’t interest you, Mint will certainly get the job done for you, and will do it completely free.

Topics: Money Management Tools

The post Quicken vs. Mint – Which is Best for Your Budget in 2018? appeared first on The Dough Roller.

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