Archive for October, 2008

Like many people, I have a love/hate relationship with bars and restaurants that allow you to open a credit card tab. Why? I’m one of those people who sets out to have a “couple of drinks,” but “just one more” always sounds like a good idea.

Handing over my credit card each time I buy a drink is sobering, especially when drinks can cost more than $12 a pop. It’s much easier just to start a credit card tab and face the music when the statement comes.

Lately, I’ve encountered a credit card tab buzz kill, which is credit card pre-authorization. Bartenders have requested that I sign for as much as a $50 pre-authorized charge on my credit card. Now, I understand that they want to protect themselves from customers who open tabs and then skip out without paying their bills. Unfortunately, this forces me to face the harsh reality that I will probably be spending (and drinking) more than I intended.

With the slumping economy, bars and restaurants are experiencing more deadbeat customers than usual. Bartenders who start credit card tabs without making sure the credit card is good may get left without a tip or, worse, may be forced to pay for a customer’s drinks. Credit card pre-authorization is their only line of defense.

Customers need to be alert, too. There are unscrupulous people (who may work at bars and restaurants) who are not above adding an extra gratuity to a credit card tab receipt that wasn’t correctly filled out or leaving the pre-authorized amount on a patron’s card even though the patron didn’t spend that much.

Also, leaving your credit card after a long night of fun is a perfect opportunity for a criminal—someone with access and opportunity—to steal your credit card information. As it so happens the US Justice Department notes individuals between 18 and 24 are the most likely to experience identity theft.

Some patrons, who have had too many beers, may forget to close their tabs and pick up their credit cards at the end of the night. Restaurants typically lock those credit cards in a safe and make the customers settle the tab when they come to retrieve their credit cards. Some establishments, however, are now automatically charging a fee for this service.

For better or worse, credit card pre-authorization for bar tabs is here to stay. It’s a good business practice for the establishment and provides a safety net for its employees.

As a patron, stay sober enough to make sure you’re not being unfairly charged. If pre-authorization is too much of a downer for you, grab some friends and relax with friends and a bottle of wine at home.

Lindsay Woodland

Chuck Bartowski, the reluctant hero of NBC’s comic adventure show “Chuck,” may not always get the proper credit for saving the world each week, but his wallet does contain at least two or three credit cards.

Fighting Crime for $11 an Hour

For most of the week, Bartowski works at Buy More, a retail electronics store in Burbank where he earns approximately $11 per hour. As part of the store’s “Nerd Herd,” Chuck answers technical questions about new gadgets and helps frustrated computer users keep their laptops and cell phones in good working order.

Speaking of computers, Bartowski also has one in his head. After opening an e-mail from a college friend, Chuck reluctantly received a download of “The Intersect,” a computer network filled with classified government information. The data is packed into his subconscious mind and can be accessed with the right visual triggers.

If, for instance, Chuck sees a known terrorist on the street, his brain will “flash” and reveal all the details about this villain, including his last-known whereabouts. Bartowski even has schematics for weapons locked in his skull.

Naturally, Chuck is one of the government’s greatest assets and spends much of his free time helping the NSA and FBI keep the world safe from harm. Unfortunately, he doesn’t receive any additional compensation for his dangerous, after-hours job.

What’s in Chuck’s Wallet?

Based on his hourly wage, Chuck has an estimated gross income of $22,880 per year, which is not a lot considering his value to the government. Fortunately, Chuck lives with his sister and her fiancée, which dramatically reduces his living expenses and allows him to put some of his take-home pay into a savings plan. With a low debt-to-earnings ratio, Chuck would benefit from a credit card for those rare occasions when he can take Sarah Walker, the secret agent of his dreams, out to dinner.

Since he works at Buy More, Bartowski gets an employee discount, which means that he has a store credit card for in-store purchases. Chuck owns a pretty decent desktop computer and has a first-generation iPhone, both of which were charged on his Buy More card.

Chuck’s Debits and Credits

Thanks to Chuck’s savings habits, he carries around a debit card tied to his bank accounts, preferably one that offers incentives for making purchases. As a good customer, his bank should offer the hardworking Buy More employee a credit card with a low interest rate.

Besides electronic toys and dinners with lovely ladies, Chuck shops for food, paying for his purchases with the bank debit card. Nerd Herd members sometimes have to drive to a customer’s home or business, so Bartowski does spend money on gasoline. To keep track of his business expenses, Chuck carries a credit card that pays a bonus for purchases at filling stations.

Being a Spy Isn’t Cheap

With The Intersect in his brain, Chuck typically finds himself in dangerous situations where he must stay one step ahead of people who want him dead. Bullets and bombs mean that his clothing takes a beating, so Chuck probably spends some of his free moments shopping for new duds. He even has some pretty stylish outfits, which he probably bought to impress the well-traveled Sarah.

Though his credit lines aren’t as impressive as those of Iron Man’s wealthy alter ego, Tony Stark, Chuck Bartowski does OK for a member of the Nerd Herd.

Steven Bryan

If you are interested in carrying the best looking credit cards in your wallet, here’s your chance to see five of the most innovative credit card designs on the market today.

Fashion statements used to be made strictly by what clothes you wore or what purse or wallet you carried. Today, fashion statements also can be made by what you carry inside your wallet. Credit card designs range from basic single color options to elaborate works of art. Some cards even give you the option to create your own credit card design. If you are interested in carrying the best looking credit card in your wallet, then take a look at the top five credit card designs on the market today.

No. 5: PetRewards Platinum Plus Visa

If you love animals, then the PetRewards Platinum Plus Visa credit card has a design you will flip over. First, you can select from three very cute animal designs including “contented cat,” “loving pair” and “devoted dog.” Your second option is to upload an image of your pet to use as your credit card’s background design. This credit card offers you rewards that relate to animals such as vet services, pet food and even donations to your local animal shelter.

No. 4: Capital One Standard Platinum for Students

The Capital One Standard Platinum Credit Card for Students is a fashionably versatile credit card. First, you can select one of the great looking credit card designs offered by Capital One such as a bald eagle, a lightning strike, a mountain and water scene, a palm tree at sunset or a tropical island scene. If you want to personalize your credit card’s design, then you also have that option. After you get your card, you are given the opportunity to upload a photograph to your account and order a new card. This card has no annual fee, free fraud liability insurance and online access to your account.

No. 3: Discover Monogram

With the Discover Monogram credit card, you can choose between three brilliant fashion colors including Caribbean blue, flamingo pink and key lime green. This card not only looks great, but also it has a pretty great lineup of benefits and features such as no annual fee, super low regular APR and a fabulous cash back rewards program.

No. 2: Starwood from American Express

The Starwood from American Express credit card is simple and sleek. It features a very flattering red-and-silver design. It also offers you travel rewards, purchase protection, traveler’s insurance products and global hotline assistance. American Express also offers a Starwood business credit card version which boasts the same benefits and design.

No. 1: Personalized Maximum Rewards from First National Bank of Omaha

The number one credit card design is actually created by you. The Personalized Maximum Rewards credit card is one of many personalized credit cards from First National Bank that allow you to upload any graphic that you want to appear on your credit card. This is a Visa credit card that offers you a 6 month introductory 0 percent APR, a 1-point-per-$1 reward program, online access to your account and a complimentary zero liability protection policy.

Eisla Sebastian