The requirements to have your monthly fee waived is dependent on which account you have.

Essentials Checking: Starting in May you will be subject to a $7 fee. You have avoid this fee by either maintaining at least $1500 in your account or have at least one direct deposit from your employer, pension, or social security every statement month. Service fees will post on your June statement if you do not meet the above requirements. If you have no way of getting direct deposits you can sign up for online only statements and Wells will credit you $2 a month.

Complete Advantage Checking: The $75 monthly transfer will no longer be one of the options to have your service fee waived. Either maintain $7500 or more or have a linked Wells Fargo Mortgage Account. If you do not meet the above be prepared to pay $15 a month.

For those who do not want to deal with the above your best bet is to join a local credit union. Most have free accounts and are a lot easier to deal with than the “big banks”.

If you have any questions about the changes to your account calls Wells Fargo at 1-800-To-Wells (1-800-869-3557).

Most of us rely on credit cards for emergencies, but you can’t live off credit cards for any significant amount of time. Credit card fees and interest rates can sky rocket once a payment is missed or even late a few days. Before you know it your APR’s can bump up to anywhere between 20-30 percent!

Relying on credit cards for emergencies is not adequate – though you can make a mortgage payment with your credit card.

What is an emergency fund?

An emergency fund should be money that is not currently dedicated to anything else. It is not necessarily the same as a “savings” account. Emergency funds should not be set aside for planned home repairs, vacations, new cars, credit card debt, etc. Think of this fund as a type of insurance. As we get older and our families grow so do our expenses. As “life” gets bigger so does the propensity of things to go wrong. Lose your job, car breaks down far from home and needs to be towed  for a costly repair, an accident occurs that results in unexpected medical bills, etc. How would you pay for the above when you are already living paycheck to paycheck?

How to start an emergency fund:

There is no set amount that needs to be set aside, it mainly depends on how you live. Someone making $100,000k a year versus someone making $30,000 year lead very different lifestyles and have different types of expenses. There is one thing in common though, unexpected expenses. Experts estimate the ideal fund should be 6 months worth of income but if money is already tight around the house start small. Set an attainable goal of $800-$1500 for example.

If you are already devoting 100% of your income to bills and other expenses that prevent you from saving it’s time to sit down and take a hard look at your expenses and lifestyle choices. Most of us do not realize how non essential many things are in our life because we take them for granted. The average American spends almost $100 a month on cable. Do we really need cable TV to survive? There are much less expensive alternatives out there now thanks to the internet. Take a service like Netflix for example. Netflix costs about 8 bucks a month and has thousands of the same television shows we pay over $100 a month to watch! Now that it can be streamed instantly it is essentially TV. Another great service to check out is called Hulu. Hulu is free and offers many great TV shows and movies. What about home phone service? In the world of unlimited cell phone minutes with free long distance is a home phone line really necessary? Cutting your home phone service is also an easy way to save anywhere between 30-40 bucks a month. Eat out every day during lunch while your at work? Go to the grocery store and buy food to take for lunch.

How to start saving?

A great way to save extra money is to direct deposit it into a separate account right when you get paid. Many employers now have software that lets you set up multiple checking accounts to have a certain amount or percentage sent to. You can also set up reoccurring transfers from your checking account into a savings account for example, it doesn’t have to be a huge amount. Try $10-20 bucks a week. After a while that small amount adds up!

Bill yourself. It may sound silly but if you create a small bill every month and write a check to yourself just like any other bill it can take the “sting” off of saving. Just remember to deposit that check into a separate account and make sure it is on the same day every month!

Use any bonuses or unexpected tips as a way to fund your account. Many of us get a tax refund check every year and somehow it always manages to disappear on small things. Since you were not really “expecting” that money take a portion of it and put it into your emergency fund. Do the same for any quarterly/yearly bonuses from work or any odd jobs you may do throughout the year.

Hopefully this article got you thinking about small things you can cut out of your everyday life and help you create a financial buffer for when life takes that unexpected turn. Have any questions or comments? Use the comment section below.

Premium card holders generally get the most value for points. This is mainly because all of the cards charge some sort of annual fee. The fees for these cards range anywhere between 60 and 90 dollars. Premium cards include the Sapphire preferred, and the Bold & Ink business cards.  If you catch them at the right time you can even get them fee free for the first year and just use all of your points before the first year is up.

Premium cards allow you to transfer to airline and hotel loyalty programs, similar to the American Express Membership Rewards program. Chase gives you a 1 to 1 transfer ratio which is outstanding considering you can leverage those hotel and airline points for much more when traveling.

Current airline partners:

• United Airlines MileagePlus
• Southwest Airlines Rapid Rewards
• British Airways Executive Club
• Korean Air SkyPass

Hotel partners:

• PriorityClub which includes InterContinental, CrownPlaza, Holiday Inn, Candlewood Suites & Staybridge Suites.
• Hyatt Gold Passport
• Marriott Rewards
• Ritz- Carlton Rewards (just added)

For those who ride the rails you can also transfer points to Amtrak.

The great advantage of Ultimate Rewards is the fact that they do not charge a transfer fee unlike the American Express Membership Rewards program. Points are generally transferred within 1 day but can take a few days for the partner to post them to your account.

Another great way to redeem points is with Airfare. Chase gives you a 25% bonus when you redeem for any flight through the Ultimate Rewards website. This is a real benefit because the prices are generally the same as other sites like Expedia, Priceline, etc. How it works- Lets say you want to redeem your points for a $250 flight. Normally that would cost you 25,000 points, but when you book through the Chase website you can get that same flight for only 18,750 points essentially putting $62.50 back in your pocket. Once your flight is booked you can also use points for hotel stays and car rentals.

Don’t travel? Don’t worry! You can also redeem for cashback in the form of a statement credit, check, or direct deposit into your checking account. Get cash at a 1:1 ratio also. Meaning 10,000 points is equal to $100 in cash. You can also get gift cards to thousands of retailers.

You must register for the promotion BEFORE cashing in points. You can register at https://www.sonyrewards.com/en/gateway/?offerlink=marredeem2012 . Offer is valid between March 1st 2012 and March 31st 2012. Capital One will deposit the 5,000 Sony Rewards points within 2 to 4 weeks after you order your merchandise. Only one bonus is allowed per account and you must have a valid current account at the time of bonus deposit.

Remember to register using the above link before attempting to redeem or you will not get the bonus.

Why did Capital One buy ING?

Many are wondering why NG Groep NV (the parent of ING) would sell the very successful checking and brokerage units. The sale was due to a previous Europe bail out. NG Groep NV is a Dutch company who received a substantial bailout from the Dutch government in 2008. One of the stipulations of the loan was that the company would restructure part of the company including its United States counterparts.

This is good news for Capital One not only because it obviously makes them larger via more deposits but more importantly it now gives them a brokerage division. The acquisition will give many customers a physical branch to walk into if need be which was not available in the past. I personally have a Sharebuilder brokerage account mainly because they offer generous promotions and incentives from time to time. It will be interesting to see what changes are made to ING but only time will tell at this point.

Many cards today offer up to 5% rewards programs. Lets say you owe $10,000 on your taxes and use your rewards card to pay your taxes. 5% of 10k is $500, which is basically money in your pocket. Take that $500 in cash back and effectively lower your tax bill to $9500. Hopefully you do not get stuck owing 10k to the IRS but it’s a good example.

Another great reason to pay with a credit card is because every purchase offers you a “grace” period before you have to pay the card company back. I look at it as an interest free loan for a month or two. Lets say I charge my taxes to my card on April 1st. My credit card statement closes March 30th and I don’t have to pay that balance until my due date on April 20th. I effectively gave myself an extra two months to pay my taxes!

Over the last few years we have seen various services pop up which enabled you to funnel your tax bills through them but they had pretty substantial fees with most being around 4-5 percent. Now there is a service called PayUSAtax. What makes PayUSAtax different is that they only charge 1.89% when you pay with a credit card and a flat fee of $3.49 to pay with your debit card. They also give you the flexibility to use most major credit card types. PayUSAtax accepts Visa, MasterCard, Discover, Pulse,Star,NYCE, and a few other debit card processors. The only major card they do not accept is American Express, mainly because AMX usually charges more to accept payments than say Visa or MC.

If you accidentally overpay your tax bill the IRS will cut you a check or actually issue you I bonds from the US Treasury which offer a pretty good return. You can also look at prepaying your taxes if you have a credit card which only offers a high bonus for the first few months.

Check out the payUSAtax site at https://www.payusatax.com/ for more information.

Why did I get this check?

If you remember, claim forms were mailed to effected customers of Bank Of America, Chase, Visa, Mastercard, Bank One, First USA, Washington Mutual/Providian, Citibank, Diners Club, HSBC, and MBNA in late 2007. The claim form asked a series of questions about your use of credit/ATM cards overseas and if you were charged a transaction fee while using the card internationally between February 1, 1996 and November 8, 2006. The forms then had to be mailed back or faxed to the claim administrator no later than May 30th 2008. If you submitted a claim after that date it was denied. Flash forward to 2011 and the litigation was finally settled. The Banks set up a fund of $336,000,000 to pay for damages, attorneys fees, and other expenses.

The courts into a final payment authorization on October 5th 2011. The settlement administrator started distributing checks to claimants during q4 and expect all 10 million checks to be mailed by January 31, 2012. Seeing as how there were so many people involved in this suit checks are being distributed by region. There is no need to contact anyone if you have not received your check yet.

How did they determine my payment amount?

Your payment amount was determined based on which option you selected on the claim form. Option 1 was a flat $25 dollar check. Option 2 asked you about your time spent internationally and whether it was for business or leisure. The courts then used an algorithm to approximate how much you spent in fees and issued a check based on that. Option three asked you which specific cards you used overseas and exactly how much you spent on fees. Most people close option one but because there were many more people involved in the suit the $25 payment dropped to about $13. I chose option two and received $33 and some change even though I personally spent a lot more in fees.

What does this check look like?

The check came via USPS and was smaller than a post card. If I had not opened it and saw that it was a check I would have thrown it away! Make sure you pay close attention to your mail if you remember filling out the claim form a few years ago because you should be getting a check. A copy of my check is below to give you a heads up as to what it looks like.

Visit www.CCFSettlement.com for more information and to contact the necessary parties if you do not receive your check.

Flash forward to 2012- There is now a way to get money out of your PayPal account and into your hands within a few minutes! Coinstar and PayPal have entered into a new partnership that gives you the ability to walk directly into your local grocery, convenience, or drug store and get money directly from the stores customer service desk! No more waiting for days to get your money. Coinstar has actually made the process extremely easy.

 How to withdraw money from your PayPal account at a local Coinstar machine:

1. Go to your nearest participating grocery store that has a Coinstar machine. (Note: not all Coinstar locations are currently participating in the program. Visit www.coinstar.com for a complete list of stores you can withdraw money at.)
2. Select “Paypal” from the on screen menu and enter your login credentials for Paypal (typically your email address and password).
3. Enter the amount of money you would like to withdraw.
4. Take the receipt printed by the Coinstar machine to the stores customer service desk and an agent will then hand you cash.

Not only can you get money out of your Paypal account you can also deposit money! Want to buy something online and have some extra coins laying around? Take them to your local Coinstar machine and deposit them into your Paypal account. What I like most about this feature is the fact that I can now add money to my account instantly. As with withdrawing money if you want to simply add money to your PayPal account you have to fund it with your checking account which takes days. There is a way to add money via credit card but then you get hit with cash advance fees and a high interest rate from your credit card company.

How to add money to your PayPal account:

1. Visit a participating Coinstar machine and select the add funds to “Paypal” option.
2. Enter your login information.
3. Deposit either coins or cash into the machine.
4. Check your PayPal account balance when you get home!

The fine print:

Fees- As with any service there are associated fees. The great thing about this is that the fees are really minimal considering the benefit received by getting instant cash. If you deposit money via Coinstar they charge 5.9% for coins, and $3 flat transaction fee if you deposit cash. The regular transaction fee Coinstar charges to process coins is around 8-9 percent so depositing the money into Paypal and then withdrawing to your checking account is a cheaper route. If you want to withdraw money from your Paypal account they only charge a flat $3 fee! That is the best benefit by far for me. I will gladly pay $3 to get my money instantly.

Minimum/Maximums: The minimum amount of money you can load is 1 cent and the maximum you can load to your PayPal account via Coinstar is $500 per month. If you choose to withdraw for cash the minimum amount is $8 and a maximum of $200 per day and $500 per month.

Lose your voucher or enter the wrong PayPal email address? Contact Coinstar immediately and they will help. I once accidentally threw away a voucher while eating lunch and they were able to check the machine history and immediately void the voucher over the phone.

Does my Coinstar machine participate? Currently Albertsons, Minyards, Brookshires, and Super 1 foods in the Dallas/Forth Worth metroplex are participating with more cities coming soon.

Visit Paypal here for more FAQ’s and to see if your local groceries are participating in the program.

Be sure to spend extra time this holiday season looking over your mail. Many of us received an expected check from an old Bank Of America lawsuit totaling $98.14. The check came in a plain envelope with a Minneapolis return address. I thought it was junk mail and almost threw it away!

The check stems from the Closson vs Bank Of America lawsuit from 2009. The suit alleges BOA made statements in its commercials and other marketing materials to increase the number of overdrafts, returned check fees, and other miscellaneous fees. It also alleges that Bank Of America failed to provide account terms until after the accounts were opened.

Settlement checks in the amount of $98.16 were mailed December 20, 2011. The maximum was one check per person even if you had multiple accounts. The date to get in on the 35 million dollar payment from BOA has passed but if you joined the suit and do not get your settlement check write to:

Bank of America Settlement Administrator, care of Rust Consulting
P.O. Box 9339, Minneapolis, MN 55440-9339

Must be postmarked before 2/18/2012.

Visit http://www.clossonsettlement.com/ for more information.

Many of us use so much plastic that cash has become an inconvenience and a liability. Our current savings account balance is no longer tied to the amount of forgotten change under our floor mats or the jar containing $346.31 in loose change we keep in our closet.

Credit cards, even debit cards, simplify our finances and make it simple to track our spending. Many people I know still carry a $100 bill tucked into their wallet, in the event of an emergency or the rare encounter of a cash only business. But with ATM’s on every corner, who needs the liability of cash in their pocket?

Ditch the cash, and the 10 things below will become much easier.

1. Make hotel reservations -

It is nearly impossible these days to book a hotel reservation at any reputable hotel

company without a credit card. Hotel companies have caught on to the old ways of some who used to book random reservations and then not cancel them thus leaving the hotel with a room they can not sell in such short notice. Giving a hotel a credit card is not

necessarily a bad thing. Using a card guarantees your room for late arrival. Meaning if you are driving and don’t plan to check in until midnight the hotel will hold the room for you and not cancel the reservation. This guarantees revenue for the hotel because even if you do not show up they are able to still charge you for the room. Most big chain hotels hold an amount of money between $50-$150 per room for incidentals like parking charges, room service, parking, etc. You certainly don’t want that money being held on a debit card or paying a large amount of cash upfront to cover these incidentals when chances are you will not use any to begin with.

2. Rent a car -

From my experience it is absolutely impossible to rent a car without a credit card on file. This protects the rental company if any unexpected accidents or lose of the car were to happen and you declined insurance. One of the pluses to pay for a car rental on a card is auto rental insurance. Most cards give you automatic insurance for free on your rental just for charging it on that card. All major card companies offer this service. Check your agreement for more details because it varies from company to company. You want to make sure you are completely covered if you are in a strange country and someone rear ends you or steals your car while you are out sight-seeing.

3. Build your credit-

Try to build your credit without a credit card. Your left with secured loans or a cosigner on an auto loan or  mortgage. Secured credit cards are easier to get, and an effective way to quickly build your credit when they become unsecured. It’s possible, but takes more work. Using your credit cards responsibly and paying on time is the single best way to help your credit. Using credit responsible can net you thousands in sign up bonuses and incentives if you know where to look

4. Get paid to spend your own money-

Unless your driving an 18 wheeler and paying for your gas with cash, your not likely to be saving or earning money by using cash. Many cards these days offer credit rewards programs. There are hundreds of different options to choose from. You can choose frequent flier cards, hotel loyalty cards, cash back cards, and many others. Each of which give you points/miles to get free things and put money back into your pocket.

5. Make safe online purchases-

Many credit cards offer extended protection for online purchases, not offered to debit card customers. Bank of America, for example, has ShopSafe – credit card numbers you can generate on the fly that allow you to limit the number of uses or set a spending cap. Limits can range from a maximum per transaction to an overall spend limit. Discover, Citibank, and Chase all have virtual online shopping programs you can use to assign you a temporary credit card number to do your shopping online.

6. Extended product warranties-

MasterCard, Visa, American Express, and other card issuers all have some sort of warranty extension program. For the most part, the programs are simple to file a claim. Say you buy a laptop that comes with a 1 year manufactures warranty. If you purchased that product on your credit card most double your warranty up to an additional year. This protects you from device break downs after the manufacture warranty expires. Most cards simply have you send the defective product back and they issue you a full refund or you can send them a repair estimate and they will credit you the amount needed to have the product repaired.

7. Get reimbursed if you lose your wallet-

If you lose your wallet or purse with cash in it, no genie is going to appear and reimburse you. But with a credit card, you can get a new card rushed out to you next day. Your old card will be cancelled, and you will not be liable for fraudulent charges. Your still without your drivers license or the other contents of your purse – but at least you will have the ability to replace them. Few things are worse than being overseas and having your wallet stolen. You can’t get cash back but card issuers like American Express have thousands of offices overseas you can visit to get some emergency cash and a temporary card you can use to get you home.

8. Reconciling finances and taxes-

One of the biggest advantages to credit cards is that they provide great record keeping capabilities. Most banks offer reports that can be ran to break down spending by a particular merchant or category in one easy place. This comes in handy especially for those who run a small business and need to keep track of business expenses for tax deduction purposes. I have several business cards and every quarter I get an update on purchases and also a year end statement which makes filing my taxes a breeze. There is also no need to write down every charge in a check book. Simply log in online and it shows you when and where the purchase was made and what the amount was. It does not get much easier than that! Banks usually keep your statements online for 3 years or more.

9. Renting from kiosks like Redbox and Blockbuster-

Self serve kiosks are popping up everywhere. Many are familiar with Redbox and Blockbuster kiosks outside of retailers like CVS, Walgreens, and even Walmart. If you plan on using one of these kiosks to rent movies, games, and other items you must have a credit card. This guarantees that if you do not return the item the merchant can still charge you for the disc.

10. Purchase Protection-

Another rarely used benefit of credit cards is purchase protection and price assurance. If you buy an item and it is accidentally lost of stolen the credit card company will replace it free of charge! Also if you buy a new cell phone for $300 and the next month the price drops to $200 you can get the difference refunded back to your card.

There are many other benefits of using credit cards these day but those are some of the most popular. There are hundreds of great credit card offers floating around. Check out our other articles for cards with great new sign up bonuses.