Save money and get a better credit score using the right credit card

By making your credit card payments in a regular and timely manner, you improve your credit score - everyone knows this. However, did you know that some credit card companies will not report you to the credit scoring agencies as long as you are a good customer? Discover/ Novus is one of those companies. They will report you to Transunion, Experian and Equifax if you are late or deliquent but not if you pay on time.

In other words: Discover/ Novus is not useful to improve your credit score. One particular benefit of Discover is that you get 1% cashback on your purchases. On occasion, they have special programs where they temporarily give 2% or even 5% on purchases in selected categories such as groceries or gasoline.

I myself have used Discover for years because of the cashback benefit.
However, recently I discovered the Advanta Platinum with Rewards credit card. This is a 'Business Credit Card' for small businesses. This card will pay you a full 5% cashback! A 15 months (yes, fifteen months, over one year) of 0% introductury APR on balance transfers is a nice option as well.

On top of that, since this card is a Mastercard, you will always get your card accepted, while many smaller shops and restaurants will not accept Discover.

Highlights:

• 0% Intro APR for 15 Months on Balance Transfers
• 7.99% Fixed APR thereafter
• Choice of 5% Cashback OR Travel Rewards
• Up to $50,000 Credit Line