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Dolan Do's for Choosing the Right Credit Card

There are hundreds of credit cards out there with a dizzying array of features...and, of course, each card claims to be better than the other!

How do you choose? Here are our top five tips for finding the right card for you:

  • Get a card with a no annual fee!
  • You want a minimum grace period of 20 days, but we prefer 25 or more.
  • Make sure you get $0 fraud liability, now available on many cards. It's a must in this age of identity theft.
  • Shop for the lowest annual percentage rate (APR) you can qualify for. If you pay off your balance every month, which we HIGHLY recommend, the APR is less important because you're not paying interest.
  • More than 60% of cards offer "rewards" like rebates, cash back on purchases, etc. These cards can indeed save you money, but only if you pay off your balance every month and don't have to pay an annual fee. Otherwise, you're just giving the rewards right back to the credit card company!

Now that you've found the right card, make sure you get the most out of it with these credit-savvy tips:

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Straight Talk Tip


Aging Parent Deductions

If you provide more than half of an aging parent's support, you may be able to declare your parent a dependent even if he or she is not living in your home. In addition to getting the dependent deduction, you may also be able to take a tax deduction for your parent's medical expenses. To prove you pay the expenses, pay your parent's bills directly to the provider, rather than giving your parent(s) the money to pay the bill.


Click here for more tips.

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