PPI can be a useful product - What Is PPI?
Payment Protection Insurance is an insurance product that protects you from payments you have to make should you be unable to make those payments. Typically it covers you if you are made redundant (but not if you get fired), if you are unable to work due to illness or if you have an accident. It can be taken out to cover any kind of credit that you have to pay for. Typically for mortgages, loans and credit cards. It can also be taken out on store cards and even to cover the payment of other types of insurance such as life insurance.
What Are PPI Claims?
Although PPI can be a useful product the FSA (Financial Services Authority) that regulates the selling of financial products has deemed it to have been miss-sold a lot over the past 6 years. It has been miss-sold in the following ways:
[1] Customers were being sold PPI that they would never of been eligible to claim on anyway because they may have been self employed, been in a job that is classified as dangerous, on a short term contract, been too old or have pre-existing medical condition. In fact if you checked the small print in some policies you would find lost of exclusions. Some don't cover you if you are of work ill with back pain or stress which are 2 of the biggest causes of absence from work.
[2] Customers were being charged up to 10 times what the products is actually worth!
[3] Finally people were sold PPI in a way that is not consistent with FSA guidelines. Either they weren't aware PPI was included with their credit, they thought they had to buy the product or that it would increase their chances of being approved for credit or high pressure selling techniques were used to sell the product. E.g. "we would like to approve you for this credit but we are worried about what would happen if you were to lose your job...".
If any of these apply to you then you can claim back what you paid, plus interest and in some cases PPI compensation for excessive miss-selling. Currently 90% of claims are valid so if you do have PPI that you have been paying the past 6 years there is a 90% chance it was miss-sold unless you shopped around and bought it independently of your mortgage / loan supplier. In some cases customers can even claim PPI if they have actually made a claim on the insurance.
What Can You Claim For?
The first and biggest sum you can claim is usually everything you paid out in PPI since 2004. Banks typically would charge you a lump sum for PPI at the beginning of your loan or mortgage. This means you were charged interest on the PPI at the same rate at your loan / mortgage. If you took at a 5 year loan with some of the worse PPI offenders then PPI could work out at up to 25% of the total you paid back. So a 7,500 loan over 5 years with PPI you could end up paying back up to 13000. 3000 of which would be PPI plus interest! You would of only had to pay 10,000 without the PPI.
On top of this you may be entitled to a standard rate of interest on the money that should have been yours, usually 8% per annum. Finally in cases of excessive miss-selling you may be entitled to compensation for the whole ordeal as it could of led to serious detrimental debt problems and even bankruptcy.
How Much Can You Claim Back?
If you had a breakdown each month of what you paid out in PPI since 2004 then you can add all this up to give you a minimum estimate. Also if you are still paying for this over priced PPI then you can cancel the policy which will reduce your monthly outgoings. You could then, if desired, sign up to an independent and reasonably priced PPI policy. This policy would be paid each month not in one lump sum with interest.
Alternatively if you don't know what you actually paid in PPI, to get a ball park figure it is 20% of what you paid back in loans, mortgage and credit cards between 2004 and 2010 that had PPI. So if you paid back on average 500 which included mortgage and credit cards, over 6 years that is 72 months, 72 x 500 is 36,000. This would probably equate to 7,200 of PPI.
PPI Claims Management companies that I have spoken to say they have recovered 20,000+ for some clients. Especially if you have a lot of debt that you "juggle" between credit cards and a big mortgage. The biggest claim I am aware of was 41,000 for a single client which was PPI spread out across 1 loan and 3 credit cards. 41,000 of money that the client would not have had if they had not decided to pick up the phone and make a claim.
Saturday, July 7, 2012
Friday, July 6, 2012
Foreign Exchange Currency Pairs
A currency is a mean of exchange, facilitating the transfer of goods and/or services. It is one form of money, where money is anything that serves as a medium of exchange, a store of value, and a standard of value. Currencies are the dominant medium of exchange. Coins and paper money are both forms of currency.
A currency pair depicts a quotation of two different currencies on the Forex market. The first currency in the pair is the base currency or transaction currency. The second currency in the pair is labelled quote currency, payment currency or counter currency. Such a quotation shows how many units of the counter currency are needed to buy one unit of the base currency.
For example the quotation EUR/USD 1.2700 means that one euro is exchanged for 1.27 US dollar. If the quote moves from EUR/USD 1.2700 to EUR/USD 1.2710, the euro is getting stronger and the dollar weaker. On the other hand if the EUR/USD quote moves from 1.2700 to 1.2690 the euro is getting weaker while the US dollar is getting stronger.
Majors (main currency pairs traded on Forex) are the most liquid and widely traded currency pairs in the world. Trades involving majors make up about 90% of total Forex trading.
The Majors are: EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD and USD/CAD.
GBP/USD is the only currency pair with its own name. It is known as "Cable", which has its origins from the days when a cable under the Atlantic synchronized the GBP/USD rate between the London and New York markets. But there are also lots of abbreviations for other currency pairs such as: AUD/USD "Aussie", EUR/USD "Euro", GBP/JPY "Geppy", NZD/USD "Kiwi", USD/CAD "Loonie", USD/CHF "Swissy", USD/JPY "Gopher" and USD/CAD "Beaver".
The quotation of a currency pair usually consists of two prices. The lower price (bid) is the price at which a market maker or a brokerage in general is willing to buy the first currency of a pair. The higher price (offer or ask) is the price at which a brokerage is willing to sell the first currency of a pair. The spread is the difference between the two prices. For example if the quotation of EUR/USD is 1.3707/1.3709, then the spread is EUR 0.0002 (or 2 pips). In general, the more popular the pair is, the smaller the differences or spreads. Different brokerage firms have different spreads.
Currency correlation is a statistical measure of the strength and direction of a linear relationship between two diferent currency pairs. Currency correlation is computed as a correlation coefficient. In the broader sense, currency correlation can refer to the correlation between any currency pairs and the commodities, stocks and bonds markets.
A currency sign is a graphic symbol often used as a shorthand for a currency's name. Internationally, the ISO 4217 codes are used instead of currency signs, though currency signs may be in common use in their respective countries. Most currencies in the world have no specific symbol.
When writing currency amounts the location of the sign varies by currency. Many currencies, especially in Latin America and the English-speaking world, place it before the amount (e.g., 50.00); many others place it after the amount (e.g., 50.00 S?); and, before they were forbidden, the sign for the Portuguese Escudo and the French Franc were placed in the decimal position (i.e., 50 or 12?34). The standardized European default placement, used in absence of a national standard, is that () is placed before the amount. However, many Eurozone countries have sustained or generated alternative conventions.
The decimal separator can also take local countries' standards. For instance, the United Kingdom often uses a middle dot as the decimal point on price stickers (eg., '552'), although not in print. A comma (eg. '5,00 ') is a common separator used in other countries. See decimal separator for information on international standards.
A currency pair depicts a quotation of two different currencies on the Forex market. The first currency in the pair is the base currency or transaction currency. The second currency in the pair is labelled quote currency, payment currency or counter currency. Such a quotation shows how many units of the counter currency are needed to buy one unit of the base currency.
For example the quotation EUR/USD 1.2700 means that one euro is exchanged for 1.27 US dollar. If the quote moves from EUR/USD 1.2700 to EUR/USD 1.2710, the euro is getting stronger and the dollar weaker. On the other hand if the EUR/USD quote moves from 1.2700 to 1.2690 the euro is getting weaker while the US dollar is getting stronger.
Majors (main currency pairs traded on Forex) are the most liquid and widely traded currency pairs in the world. Trades involving majors make up about 90% of total Forex trading.
The Majors are: EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD and USD/CAD.
GBP/USD is the only currency pair with its own name. It is known as "Cable", which has its origins from the days when a cable under the Atlantic synchronized the GBP/USD rate between the London and New York markets. But there are also lots of abbreviations for other currency pairs such as: AUD/USD "Aussie", EUR/USD "Euro", GBP/JPY "Geppy", NZD/USD "Kiwi", USD/CAD "Loonie", USD/CHF "Swissy", USD/JPY "Gopher" and USD/CAD "Beaver".
The quotation of a currency pair usually consists of two prices. The lower price (bid) is the price at which a market maker or a brokerage in general is willing to buy the first currency of a pair. The higher price (offer or ask) is the price at which a brokerage is willing to sell the first currency of a pair. The spread is the difference between the two prices. For example if the quotation of EUR/USD is 1.3707/1.3709, then the spread is EUR 0.0002 (or 2 pips). In general, the more popular the pair is, the smaller the differences or spreads. Different brokerage firms have different spreads.
Currency correlation is a statistical measure of the strength and direction of a linear relationship between two diferent currency pairs. Currency correlation is computed as a correlation coefficient. In the broader sense, currency correlation can refer to the correlation between any currency pairs and the commodities, stocks and bonds markets.
A currency sign is a graphic symbol often used as a shorthand for a currency's name. Internationally, the ISO 4217 codes are used instead of currency signs, though currency signs may be in common use in their respective countries. Most currencies in the world have no specific symbol.
When writing currency amounts the location of the sign varies by currency. Many currencies, especially in Latin America and the English-speaking world, place it before the amount (e.g., 50.00); many others place it after the amount (e.g., 50.00 S?); and, before they were forbidden, the sign for the Portuguese Escudo and the French Franc were placed in the decimal position (i.e., 50 or 12?34). The standardized European default placement, used in absence of a national standard, is that () is placed before the amount. However, many Eurozone countries have sustained or generated alternative conventions.
The decimal separator can also take local countries' standards. For instance, the United Kingdom often uses a middle dot as the decimal point on price stickers (eg., '552'), although not in print. A comma (eg. '5,00 ') is a common separator used in other countries. See decimal separator for information on international standards.
Axis Bank Home Loan Interest Rate
Getting a good deal on your home loan is the toughest task for any consumer. Axis Bank home loan is a saviour in such a scenario, offering quick and easy options to buy your dream home. Their housing loans are designed in a way that perfectly suits the requirements of a modern home buyer; with features such as an option to choose from floating and fixed rate of interest, attractive interest rates, balance transfer facility, and doorstep service. Moreover, they are regarded as the best home loan providers in India, owing much to a myriad of additional features like flexible tenures, quick service and transparent processing. They even offer you pre-allotment booking finance for booking your dream home.
While deciding on a home loan, a major governing factor is the interest rate. A higher rate of interest means a higher EMI. Axis Bank home loan rates are the most attractive in the market, in an attempt to keep your EMI under your reach. Floating home loan rates range from 10.75% per annum to 12.00% per annum at present. As the rates tend to fluctuate, it is not easy to fix a monthly budget. However, floating home loan rates are at least 1% to 2% cheaper than fixed interest rates, thereby helping you save money in the long run. An alternative option is to go for a fixed rate loan, if you are unsure of market trends and want the security and certainty offered by a fixed rate. This way you need not worry about your budget being affected, since your loan interest rate is locked at a fixed value for a period of time. The current fixed rate offered by Axis Bank is 14% per year. You may switch between the two schemes of floating rate and fixed rate. Rescheduling of loan to a lower interest rate is also possible.
These home loans can be availed for both the purchase of land and construction of house on it, construction of a house on a plot already owned and purchase of a new house. They can also be availed for extension, renovation or repair of a house owned by the customer. Axis Bank also offers takeover of an existing home loan.
These home loans can be applied for a maximum of 85% of the property value in case of home loans and 75% of the property value in case the customer wants an extension, renovation or repair. These loans can be availed for a maximum tenure of up to 25 years. The bank even provides loan to NRIs for purchasing a ready to use residential property.
The attractive features of the Axis Bank home loans are not limited to the above. The bank charges a nominal processing fee of 1% of the loan amount. That is among the lowest in the market. Even getting yourself out of the loan has never been as easy as with Axis Bank. This is probably the most attractive feature of these home loans. Unlike other banks that levy a 2% early redemption charge, Axis Bank allows you to prepay the loan whenever you want. This really shows how much the bank values its customers.
If you are planning to buy your dream home, Axis Bank home loans is a one stop solution to all your needs. You definitely do not want to let go and end up paying more, turning your home loan into a nightmare.
While deciding on a home loan, a major governing factor is the interest rate. A higher rate of interest means a higher EMI. Axis Bank home loan rates are the most attractive in the market, in an attempt to keep your EMI under your reach. Floating home loan rates range from 10.75% per annum to 12.00% per annum at present. As the rates tend to fluctuate, it is not easy to fix a monthly budget. However, floating home loan rates are at least 1% to 2% cheaper than fixed interest rates, thereby helping you save money in the long run. An alternative option is to go for a fixed rate loan, if you are unsure of market trends and want the security and certainty offered by a fixed rate. This way you need not worry about your budget being affected, since your loan interest rate is locked at a fixed value for a period of time. The current fixed rate offered by Axis Bank is 14% per year. You may switch between the two schemes of floating rate and fixed rate. Rescheduling of loan to a lower interest rate is also possible.
These home loans can be availed for both the purchase of land and construction of house on it, construction of a house on a plot already owned and purchase of a new house. They can also be availed for extension, renovation or repair of a house owned by the customer. Axis Bank also offers takeover of an existing home loan.
These home loans can be applied for a maximum of 85% of the property value in case of home loans and 75% of the property value in case the customer wants an extension, renovation or repair. These loans can be availed for a maximum tenure of up to 25 years. The bank even provides loan to NRIs for purchasing a ready to use residential property.
The attractive features of the Axis Bank home loans are not limited to the above. The bank charges a nominal processing fee of 1% of the loan amount. That is among the lowest in the market. Even getting yourself out of the loan has never been as easy as with Axis Bank. This is probably the most attractive feature of these home loans. Unlike other banks that levy a 2% early redemption charge, Axis Bank allows you to prepay the loan whenever you want. This really shows how much the bank values its customers.
If you are planning to buy your dream home, Axis Bank home loans is a one stop solution to all your needs. You definitely do not want to let go and end up paying more, turning your home loan into a nightmare.
Wednesday, July 4, 2012
Payday loans no credit check - Monetary Solution Making Your Life Stress Free
There are times in your life where you need instant funds to overcome the situation. Most of the times these situations crop-up when you have no or little money left. Even saved funds fall short to help you in those times of your life. To make things worse is your poor credit record, hence you are denied loans from banks. However, with payday loans no credit check you can avail quick funds without delay and discomfort. These loans are designed by the financial market of the United Kingdom for its residents. For those who are interested in short-term loans can apply for it without giving a second thought.
People suffering with atrocious credit background can make most of this amazing loan facility. It is, certainly, a boon for them. No matter whether you are living with tags like insolvency, foreclosures, individual voluntary arrangements, missed payments, county court judgments or bankruptcy, you are eligible to acquire this loan.
As the name implies, these loans are sanctioned for a limited period of two to four weeks. That means you can use the amount received to fulfill temporary needs such as payment of pending water bills, weekly petrol bills, electricity bills, grocery bills, house-rent; meet some unexpected medical emergency, plan a vacation or get a vehicle repaired. You can have an access to cash quickly without getting involved in a time consuming and lengthy paper-work and documentation.
You can apply for this from your home directly. Internet is just the right place to shop for these loans. A large number of lenders have realized the potential and significance of internet. Thousands, may be lacs of people visit virtual world of internet daily. Hence, online mode of loan application has gained immense popularity over the last few years. All an applicant has to do is to search for the money-lender online. Go through the terms and conditions carefully before filling the loan application. Make sure that you discuss about hidden cost before applying for it.
Payday loans no credit check are available in both the secured as well as unsecured format. However, it is unsecured format that is highly popular amongst the loan seekers.
People suffering with atrocious credit background can make most of this amazing loan facility. It is, certainly, a boon for them. No matter whether you are living with tags like insolvency, foreclosures, individual voluntary arrangements, missed payments, county court judgments or bankruptcy, you are eligible to acquire this loan.
As the name implies, these loans are sanctioned for a limited period of two to four weeks. That means you can use the amount received to fulfill temporary needs such as payment of pending water bills, weekly petrol bills, electricity bills, grocery bills, house-rent; meet some unexpected medical emergency, plan a vacation or get a vehicle repaired. You can have an access to cash quickly without getting involved in a time consuming and lengthy paper-work and documentation.
You can apply for this from your home directly. Internet is just the right place to shop for these loans. A large number of lenders have realized the potential and significance of internet. Thousands, may be lacs of people visit virtual world of internet daily. Hence, online mode of loan application has gained immense popularity over the last few years. All an applicant has to do is to search for the money-lender online. Go through the terms and conditions carefully before filling the loan application. Make sure that you discuss about hidden cost before applying for it.
Payday loans no credit check are available in both the secured as well as unsecured format. However, it is unsecured format that is highly popular amongst the loan seekers.
Lignetics: premium wood pellets, pres-to-logs, and firestarters.
Lignetics: Manufacturer of wood pellets, Pres-to-logs and Firestarters
With more than 30 years in the wood pellet industry, Lignetics is one of the founding pioneers of manufacturing premium wood pellets and Pres-to-Logs
With more than 30 years in the wood pellet industry, Lignetics is one of the founding pioneers of manufacturing premium wood pellets and Pres-to-Logs
Sunday, July 1, 2012
3rd Degree Tears: Frequently Asked Questions
With around 9% of women experiencing a third degree tear during childbirth, the number of those affected is relatively low. Even so, if you were unfortunate enough to have sustained a third degree tear, it is likely you will have some questions that need answering. This article compiles a list of frequently asked questions regarding third degree tears to help you through this difficult time.
What Is A 3rd Degree Tear?
A third degree tear is an injury sustained during a vaginal delivery, and involves a tear to the perineum that extends to the anal sphincter complex. Third degrees tears can themselves differ in severity, and are classified as follows:-
3rd degree Injury involving the anal sphincter complex.
3a Less than 50% of external anal sphincter torn.
3b More than 50% of external sphincter torn.
3c Internal anal sphincter torn.
How Is A 3rd Degree Tear Treated?
If a third degree tear does occur during childbirth, medical staff should detect the injury either during or after childbirth. All mothers who have given birth vaginally must now have a genital examination after birth to ensure any problems are diagnosed as soon as possible. This, therefore, means that no third degree tears should go untreated.
Once a third degree tear is confirmed a mother should quickly undergo repair. This should be in a well-lit theatre, where a surgeon (not a midwife) should suture the wound together. Post-operatively treatment should continue with:-
* Antibiotics - to prevent infection;
* Laxatives - to help bowel movements;
* Pain relief medication.
In addition to medication, a mother can help a third degree tear heal by maintaining good hygiene, drinking plenty of fluids, eating healthily, and regularly performing pelvic floor exercises.
Can Spotting Happen After A 3rd Degree Tear?
Bleeding after giving birth, known as 'lochia', will be experienced by women after any form of delivery. It usually last for around three weeks, although some may continue to bleed lightly for up to six weeks. After this there is the possibility that spotting will happen. However, if this spotting becomes heavier or continues for an extended amount of time, medical advice should be sought. It is possible that the stitches begin to bleed, and if this is the case immediate attention is necessary as the risk of infection will be increased.
Can I Have Another Vaginal Delivery After A 3rd Degree Tear?
There is no straightforward answer to this question, as each case varies. It is quite common for women to have another vaginal delivery after having had a third degree tear, particularly if the wound has healed well.
Even so, an obstetrician should be consulted before another vaginal delivery is considered. It may be that a caesarean section is more advisable, and will almost certainly be the case if symptoms and complications of a previous third degree tear are still present.
Does A 3rd Degree Tear Amount To Medical Negligence?
A third degree tear in itself does not amount to medical negligence, as it is unfortunately a natural risk of vaginal delivery. It can be difficult for medical staff to predict when a third degree tear is going to happen, but the likelihood is generally considered to increase if:-
* It is a first vaginal birth;
* The baby is larger than average (over 8 pounds 13 ounces);
* Labour is induced or assisted (eg. forceps delivery);
* There is a long second stage of labour;
* The baby's shoulder gets stuck behind the mother's pubic bone.
Where grounds for medical negligence claims often arise, however, is if a third degree tear fails to be detected or is poorly repaired. Both these incidents can cause serious complications for the mother, including anal incontinence, extreme pain and infection.
If you have suffered a third degree tear that was not diagnosed, misdiagnosed, or treated at a sub-standard level of care, you should seek legal advice. You may be able to make a medical negligence claim and get compensation for you suffering.
Copyright (c) 2011 Julie Glynn
What Is A 3rd Degree Tear?
A third degree tear is an injury sustained during a vaginal delivery, and involves a tear to the perineum that extends to the anal sphincter complex. Third degrees tears can themselves differ in severity, and are classified as follows:-
3rd degree Injury involving the anal sphincter complex.
3a Less than 50% of external anal sphincter torn.
3b More than 50% of external sphincter torn.
3c Internal anal sphincter torn.
How Is A 3rd Degree Tear Treated?
If a third degree tear does occur during childbirth, medical staff should detect the injury either during or after childbirth. All mothers who have given birth vaginally must now have a genital examination after birth to ensure any problems are diagnosed as soon as possible. This, therefore, means that no third degree tears should go untreated.
Once a third degree tear is confirmed a mother should quickly undergo repair. This should be in a well-lit theatre, where a surgeon (not a midwife) should suture the wound together. Post-operatively treatment should continue with:-
* Antibiotics - to prevent infection;
* Laxatives - to help bowel movements;
* Pain relief medication.
In addition to medication, a mother can help a third degree tear heal by maintaining good hygiene, drinking plenty of fluids, eating healthily, and regularly performing pelvic floor exercises.
Can Spotting Happen After A 3rd Degree Tear?
Bleeding after giving birth, known as 'lochia', will be experienced by women after any form of delivery. It usually last for around three weeks, although some may continue to bleed lightly for up to six weeks. After this there is the possibility that spotting will happen. However, if this spotting becomes heavier or continues for an extended amount of time, medical advice should be sought. It is possible that the stitches begin to bleed, and if this is the case immediate attention is necessary as the risk of infection will be increased.
Can I Have Another Vaginal Delivery After A 3rd Degree Tear?
There is no straightforward answer to this question, as each case varies. It is quite common for women to have another vaginal delivery after having had a third degree tear, particularly if the wound has healed well.
Even so, an obstetrician should be consulted before another vaginal delivery is considered. It may be that a caesarean section is more advisable, and will almost certainly be the case if symptoms and complications of a previous third degree tear are still present.
Does A 3rd Degree Tear Amount To Medical Negligence?
A third degree tear in itself does not amount to medical negligence, as it is unfortunately a natural risk of vaginal delivery. It can be difficult for medical staff to predict when a third degree tear is going to happen, but the likelihood is generally considered to increase if:-
* It is a first vaginal birth;
* The baby is larger than average (over 8 pounds 13 ounces);
* Labour is induced or assisted (eg. forceps delivery);
* There is a long second stage of labour;
* The baby's shoulder gets stuck behind the mother's pubic bone.
Where grounds for medical negligence claims often arise, however, is if a third degree tear fails to be detected or is poorly repaired. Both these incidents can cause serious complications for the mother, including anal incontinence, extreme pain and infection.
If you have suffered a third degree tear that was not diagnosed, misdiagnosed, or treated at a sub-standard level of care, you should seek legal advice. You may be able to make a medical negligence claim and get compensation for you suffering.
Copyright (c) 2011 Julie Glynn
Southwest Airline Credit Card
Southwest airline credit card
Southwest airline credit card
Southwest airline credit cards are a good example of co-branded credit cards. Southwest airlines and Chase have teamed up to bring the southwest airline credit cards to you. At the time of writing this article, there are two popular southwest airline cards which are also collectively called as southwest airlines rapid rewards Visa cards. One of these southwest airline credit cards is for personal use (this is called Southwest Airlines Rapid Rewards Visa Signature Card) and the other southwest airline credit card is for business use. Both these southwest airline credit cards are aimed at getting you a roundtrip award faster.
There are a number of ways in which you can earn reward points using Southwest airline credit cards. Southwest airline credit cards have two kinds of reward points i.e. there are two denominations in which you can earn reward points - rapid reward credits and rapid reward dollars. The rapid reward credits are a much higher reward denomination as compared to the reward dollars (e.g. at the time of writing this article, 1200 reward dollars is equal to 1 rapid reward credit).
So how do you earn and redeem the reward points on your southwest airline credit card?
You get bonus reward credits after your first purchase on your southwest airline credit card. These purchases needn't be on southwest airlines products/services, these can be just any purchases made using the southwest airline credit card. You earn reward dollars for any expenditures you make using your southwest airline credit card. There are additional reward dollars, when you use your southwest airline credit card on southwest airlines (i.e. when you use your southwest airline credit card to spend on southwest airlines products/services). By additional we mean, the reward dollars are more as compared to those earned on other, non-southwest airline, purchases. As you keep collecting reward dollars, you keep moving closer to getting a round trip award. Generally, the roundtrip awards are based on rapid reward credits. So, you can convert the reward dollars, earned on your southwest airline credit card, into rapid reward credits; and convert rapid reward credits into your roundtrip award. Another way of earning rapid rewards credit on southwest airline credit cards is through balance transfers.
Southwest airline credit cards are surely a good option for people who travel frequently by air using southwest airlines. Since the network of southwest airlines is pretty widespread, you will find that you are able to get southwest airlines flight to most places you want to travel to and hence get an opportunity to use your south west airline credit card to earn reward points (or reward dollars, as they call them).
Southwest airline credit card
Southwest airline credit cards are a good example of co-branded credit cards. Southwest airlines and Chase have teamed up to bring the southwest airline credit cards to you. At the time of writing this article, there are two popular southwest airline cards which are also collectively called as southwest airlines rapid rewards Visa cards. One of these southwest airline credit cards is for personal use (this is called Southwest Airlines Rapid Rewards Visa Signature Card) and the other southwest airline credit card is for business use. Both these southwest airline credit cards are aimed at getting you a roundtrip award faster.
There are a number of ways in which you can earn reward points using Southwest airline credit cards. Southwest airline credit cards have two kinds of reward points i.e. there are two denominations in which you can earn reward points - rapid reward credits and rapid reward dollars. The rapid reward credits are a much higher reward denomination as compared to the reward dollars (e.g. at the time of writing this article, 1200 reward dollars is equal to 1 rapid reward credit).
So how do you earn and redeem the reward points on your southwest airline credit card?
You get bonus reward credits after your first purchase on your southwest airline credit card. These purchases needn't be on southwest airlines products/services, these can be just any purchases made using the southwest airline credit card. You earn reward dollars for any expenditures you make using your southwest airline credit card. There are additional reward dollars, when you use your southwest airline credit card on southwest airlines (i.e. when you use your southwest airline credit card to spend on southwest airlines products/services). By additional we mean, the reward dollars are more as compared to those earned on other, non-southwest airline, purchases. As you keep collecting reward dollars, you keep moving closer to getting a round trip award. Generally, the roundtrip awards are based on rapid reward credits. So, you can convert the reward dollars, earned on your southwest airline credit card, into rapid reward credits; and convert rapid reward credits into your roundtrip award. Another way of earning rapid rewards credit on southwest airline credit cards is through balance transfers.
Southwest airline credit cards are surely a good option for people who travel frequently by air using southwest airlines. Since the network of southwest airlines is pretty widespread, you will find that you are able to get southwest airlines flight to most places you want to travel to and hence get an opportunity to use your south west airline credit card to earn reward points (or reward dollars, as they call them).
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