COOL QUOTE " Instead of focusing on the amount of money lacking in your budget, focus on what you DO have: a willing spirit, an imagination filled with bright ideas, people who care about you and can perhaps help you in some way. These are the things that will enable you to do almost anything."--Phil Keoghan, No Opportunity Wasted Quotes from all previous newsletters IN THIS ISSUE #126 Letter from the publisher Cool Quote DebtSmart® Quick Coaching Cheapest pre-paid phone rates Which credit cards look better on your credit report? More credit card and debt statistics Blue Cash® for Business Credit Card "Awesome results with your book!" Discover® Platinum Gas Card Household Math™: Timing is everything Blue from American Express® Discover® Platinum Wildlife Card Stop Debt Collectors Cold! Rating Your Credit Card Cash advance pitfalls More credit, more options! Subscribe/Disclaimer Information Free DebtSmart® Column for in print publication, ezine, or web site Hire Scott Bilker to speak Books, software, in-print and downloads Archive of Email Newsletters online Advertising Update-Subscribe-Unsubscribe-Disclaimer Information Publisher: Scott Bilker Editor: Larissa S. Bilker Assistant Editor: Denise Troy ISSN 1538-6740 You can add DebtSmart® News RSS feeds to your newsreader pages. Note: RSS feeds are not a replacement for the email newsletter but a fast method of finding out what's new here at DebtSmart.com. Consumer Debt from the Fed Total outstanding consumer credit in April rose by 5.9% to $2.170 trillion. Revolving debt like that on credit cards rose by $3 billion, the most in seven months. Nonrevolving debt like automobile loans, meanwhile, rose by $7.6 billion, or 6.7. March's total consumer credit was revised lower, rising by $1.4 billion versus a previously estimated $2.52 billion. Read more credit card and debt statistics Stop Debt Collectors Cold! Stop Debt Collectors Cold! Plus, for a limited time, 4 bonus reports: How to Get Collection Accounts Off Your Credit Report, How to Avoid Losing Your Home In A Foreclosure, What to Do if You Are Behind on Your Car Payments, and Confidential Interview With A Former Debt Collector. Read about stopping debt collectors

Hi,

Here are a few items in no particular order...

Well, I changed the look of the email newsletter again. This time it's a combination between the one-column and two-column formats. I believe that it's the best blend between the two style ideas.

A few weeks ago, I launched a new service, the DebtSmart® Master Plan, which received a huge response! This service is an extremely detailed action plan built to restructure many areas of your financial life and save you thousands of dollars!

What I learned from launching this new service is that most people really wanted a quick coaching response rather than a full-blown master plan.

I'm still going to offer DebtSmart® Master Plan, but I have reworked a scaled-down version called DebtSmart® Quick Coaching. More details about this new service are contained in this email newsletter issue.

I found a very motivating article on making money at online auctions. Get Inspired by eBay Millionaires, by Greg Holden, is very inspiring. Allow the success stories of these online sellers to spark your creative thinking.

It's official! I'm a "curmudgeon," in a good way. Actually, I'm going with "maverick." That's how I'm described in this week's issue of Newsweek (6/12/06) .

Best,
Scott

DebtSmart® Quick Coaching
by Scott Bilker

When people want to get in good physical shape, they hire a personal trainer. How about when they want to get in good financial shape? That would call for a debt management coach. There's no shame in seeking professional advice. It's simply a smart, efficient means to achieving your goal.

Most people don't need debt counseling, bankruptcy, or debt negotiation. What they really need is a fresh-perspective and trusted guidance from a coach.

That's why I've developed the DebtSmart® Quick Coaching! And I'm the only person working with your information, so you can be sure that everything is confidential, safe, and accurate.

I've spent 15+ years helping people save money (and make money), and now I want to help you do the same!

Click here to find out more about how we can work together to save you money!

473 FREE minutes, 1.9 cents USA and Canada, 2.5 cents UK, no switching. NO NEED TO CHANGE CARRIERS. Long distance services can be used with your home phone, cell phone and with any other private touch-tone phones. Your flat domestic rate will vary depending on the plan you choose. No access fees, surcharges or any hidden fees. A valid credit card is required to acquire service. U.S. Residents only. Any and all Free Minutes Talk Time is only valid in the forty-eight (48) contiguous United States.

Read more about pre-paid phone services

Scott,

Let me start off by saying I love this website! I have a couple of questions. I have been told that certain credit cards (e.g. Capital One, Cross Country, and others like those) do not carry a lot of weight on your credit report. I was always under the impression that all credit cards carried the same weight. What is the truth?

My next question concerns paying them off. I would like to pay off my credit cards. Should I just pay them off and try not to use them? (I have tried this before and failed). Or should I just go ahead and cancel them.

I am really getting sick and tired of credit cards, and I want to stop using them because they put too much pressure on me. Please advise.

Thanks,
Nichole

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Intro Rate: 0.00%, Time Period: 6 Months, APR: 7.99% (for life on transferred balances). The Blue Cash® for Business Credit Card, issued by American Express®, is designed for business owners with average credit who plan to take advantage of the cash back reward program. The cash rebate amount varies according to where the cardholder makes their purchases. Cardholders earn a cash back rebate of up to 5% at "OPEN Savings" locations and up to 2.5% for all other general purchases. It is important to understand that once the annual spending exceeds $15,000, the rebate for additional "Open Savings" purchases is 2%, and the rebate for all other additional purchases is 1%. "OPEN Savings" locations include FedEx®, Hertz®, 1-800-FLOWERS.COM®, and more.

Read more about this card

"It took me 7 minutes to settle a 4,374.81 debt at 50% with Wells Fargo Financial. Piece of Cake--with your book, of course! Thank you! My husband has leukemia and had to have a bone marrow transplant, we traveled out of state for the transplant and are both not working. You are directly helping us get our lives back on track, be proud!"

Amy

Read about special offer for all three of Scott Bilker's best-selling books

Intro Rate: 0.00%, Time Period: 12 Months, APR: 10.99%. The Discover® Platinum Gas Card, issued by Morgan Stanley, is designed for those with very good credit who are looking for a cash reward credit card. Through the reward program, cardholders earn a full 5% in cash rebates for gas purchases, up to 1% for general purchases, and .25% for purchases made at select warehouse clubs and discount stores. Those who spend up to $1,500 on general purchases will receive a .25% rebate, between $1,500 and $3,000 will receive a .5% rebate, and over $3,000 will receive a full 1% rebate.

Read more about this card

Out-of-pocket cost versus payment timing; what is the effect? Here are three $2,000 loans that are paid off in exactly one year: (1) payments of $180 per month for 12 months; (2) eleven monthly payments of $100 and a final payment of $1,060; (3) monthly payments one through five are $100, the 6th payment is $1,060, and the remaining monthly payments are $100. Which loan is best (i.e. has the lowest interest rate)?

Answer this problem

Intro Rate: 0.00%, Time Period: 15 Months, APR: 3.99% (for life on transferred balances). Blue from American Express® is an ideal credit card for those with good credit who already have an established credit history and are looking for a card with access to a reward program. Various American Express® services and benefits are provided with this card, such as purchase protection, auto rental insurance, a year-end financial statement, and various travel and emergency assistance services.

Read more about this card

Intro Rate: 0.00%, Time Period: 12 Months, APR: 10.99%. The Discover® Platinum Wildlife Card, issued by Morgan Stanley, is designed for those with very good credit who are looking for a Cashback Bonus® reward credit card. Through the reward program, cardholders earn a full 5% in cash rebates for purchases made at select merchants, up to 1% for general purchases, and .25% for purchases made at select warehouse clubs and discount stores. Those who spend up to $1,500 on general purchases will receive a .25% rebate, between $1,500 and $3,000 will receive a .5% rebate, and over $3,000 will receive a 1% rebate.

Read more about this card

"CardRatings.com has been offering ratings of credit cards since 1998 and has been featured by Good Morning America, The Wall Street Journal, Consumer Reports®, NPR, PBS, etc. Thanks to consumers like you, CardRatings.com has become the most comprehensive free source for comparing credit card offers."

See how your credit cards are rated by CardRatings.com

Credit card cash advances can provide consumers with convenient and instant access to "cold cash" in times of financial need, but cash advances should be avoided if at all possible. Informed consumers realize that cash advances are typically accompanied by fees and exorbitant interest rates (there is also no grace period for cash advances). Moreover, cash advances can be a major stumbling block for consumers seeking debt relief. We hope the following tips help consumers avoid the pitfalls associated with cash advances.

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More credit, more options!

Credit options are your weapon against the banks! The key to success is using your credit lines to save money--not to go crazy spending!

The author(s), Press One Publishing, and DebtSmart.com shall have neither liability nor responsibility to any person or entity with respect to any loss or damage caused, or alleged to be caused, directly or indirectly by the information contained in this email newsletter and/or at the DebtSmart.com web site. The information, methods and techniques described may not work for you and no recommendation is made to follow the same course of action. Every effort has been made to verify the accuracy of all content contained herein. However, there may be mistakes; typographical, mathematical, or in content. This email newsletter and the DebtSmart.com web site have been created for your entertainment only. You must always seek the proper professional advice before taking any financial or legal action. You have been warned.

Copyright ©2006 Press One Publishing. All rights reserved. Please do not reprint, or host on your web site, without explicit permission. However, if you found this newsletter helpful, we grant you permission, and strongly encourage you, to e-mail it to a business associate or a friend. Thank you.