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How to Get the Most Cash Back Rewards this Holiday without a Credit Card

The Holiday shopping season is here and Black Friday is knocking on the door.  This is generally the time of year we spend a lot of money in a short period of time.  Since you are going to be shopping, it is a great time to maximize with a rewards program.

There are several types of rewards programs that vary from gift cards to travel to cash back.  One thing still stands true with any kind of reward, “Cash is King”. But, the majority of rewards programs are tied to credit cards.  It is definitely a missed opportunity for shoppers who are spending a lot of money during the Holidays using cash or some other non-rewards product.

Reasons for not having a Credit Card

There are several reasons shoppers may not use a credit card for Holiday shopping, but simply not having a credit card is near the top of the list.  Choosing not to have a credit card and credit worthiness are two of the biggest contributing factors.  So, how can Holiday shoppers cash in on rewards without having a credit card?

Earning Rewards without a Credit Card

If credit cards aren’t your thing, but earning rewards is, you are in luck!  Products, such as the ONE VIP Visa Debit Card, offer a lucrative cash back rewards program without the hassle and fees of a credit card.  In fact, there are no hidden fees with the ONE VIP Card, no overdraft fees, and there’s no cost to get it.

The ONE VIP Card is a digital banking product that is available to anyone over the age of 18 with a USA address and social security number.  There is no credit check needed to get this card and you can begin using it as soon as money is loaded to the card.

ONE VIP Rewards Program at a Glance

ONE VIP Card members earn 1 point for every $2 spent on purchases and double points for shopping Black Owned Business Partners. These points are unlimited and can be redeemed for cash back. 

Additionally, ONE VIP members can opt to pay points forward by donating them to Urban One Community Works (U1CW). U1CW will use the donations to support selected charities supporting people of color such as The Innocence Project for criminal justice reform, the National Black Justice Coalition serving LGBTQ/SGL communities, Howard University, as well as the Tom Joyner Foundation serving the HBCU students nationwide.

Bottom Line

Your likely spending a lot of money over the next 2 months – take advantage of a rewards program and earn some of that money back!

If you are like most people, tax refunds are already on your mind. After the financial hit we will take during the Holiday, extra money is always on point! While we have no idea if the IRS will be on time or delayed this year, it’s never too early to get yourself organized to get your money back quicker. Here are some tips to help you get your tax refund back as fast as possible.

Organization is your Friend!

Get your information organized! Did you get married? Change your name? Maybe you moved to another state or had a job change? These are all critical components where having the information updated and available will help you with a smooth and straightforward tax return.

Own a Business?

If you own a business, large or small, make sure you record all your business-related expenses. The more time you spend tracking down what you paid and where it was spent puts more time between you and that sweet tax refund. If you run your business from home, make sure you keep a record of all your utility expenses – they are generally deductible up to 50%, depending on current IRS tax laws.

Own a Home?

If you own a home, you are required to pay deductible property taxes. Whether you pay the taxes directly or a mortgage company pays on your behalf, be familiar with where to find your yearly tax bill so that you can deduct it from your taxes. If you have a mortgage on your home, know where to see how much interest you paid in the taxable year. This is also deductible, and having that information handy when you file your taxes makes the completion process much more effortless.

Direct Deposit is a MUST

Opt to get your tax refund by direct deposit.  This one effort dramatically speeds up getting your tax refund.  Otherwise, you will be waiting for a paper check to arrive in the mail, with the hope it doesn’t get into the wrong hands before it gets into yours. Direct deposit not only helps you get your refund faster, but you don’t have to pay anyone to cash your refund check. Check cashing fees can be pricey, and they are easy to avoid.

Most people who have a checking account will opt to have their tax refund deposited into that account. 

But, for those who do not have a relationship with a traditional bank, solutions such as the ONE VIP Visa Debit card provide the same direct deposit benefit as a conventional checking account. ONE VIP is a digital banking solution that offers much of the same convenience as a regular bank checking account without hassle, overdraft fees, and other hidden fees.

Bottom Line

Tax refund time is almost here, and the extra money comes in handy after the Holidays. 

Get yourself organized and if you don’t have a direct deposit already, check out ONE VIP. They are black-owned, support Black-owned businesses in the black community.

As much as we prepare for life’s events, the unexpected can happen. Your pet might need a costly treatment. Your car could break down and require expensive repairs. You could damage your smartphone and have to replace it. Any one of these unplanned expenses could impact your budget by hundreds or thousands of dollars. A recent study found that 63 percent of Americans lack the savings to pay for a $500 to $1,000 emergency. This means almost two-thirds of Americans would need to cut spending or incur debt to cover emergencies – decisions that could create even more financial stress. Would you have the money to cover these financial curveballs? That’s where an emergency fund comes in.

There’s no need to dwell on the what-ifs, but saving for them is important; if you don’t have an emergency fund, the consequences could be financially devastating.

What Is an Emergency Fund?
An emergency fund is money that you have saved to help you cover unexpected costs that come with everyday life. This could be a medical emergency or home repair. Many of these costs cannot be predicted, but nearly everyone will face these kinds of expenses throughout their lives. That’s why having an emergency fund is always worthwhile, because you won’t be caught off guard without the means to resolve the financial situation. Experts say it’s smart to build and maintain an emergency fund with three to six months’ worth of living expenses.

How Do You Start an Emergency Fund?
First, know where your money is going and what your monthly need is. A great tool for getting a handle on this information is the ONE VIP Prepaid Visa Debit Card. With this card, you can track your spend, balance and deposits easily and on your phone.

Once you know your monthly need, set a monthly savings goal and set up the funds for automatic transfer to a separate account. That way, you will be saving money without even thinking about it. You will want to take a close look at your finances to ensure that you are not saving so much money that you can’t pay for other everyday costs, or so little that your savings won’t cover a potential emergency.

How Much Should You Save?
The size of an emergency fund will probably change as your financial situation does, so it’s important to revisit your budget and make sure you’re covered. For some, this might mean a couple of large transfers into an account. For others, building an emergency fund could be a longer process and might require smaller deposits each month. The key to building an emergency fund is to set money aside every month, no matter how small the amount.

Bottom Line
An emergency fund is truly something we all need. Covering essential expenses, of course, comes first, but developing a habit for saving will always serve you well in the future. Financial tools, like the ONE VIP Card can help you get a handle on your current situation and be the stepping stone to a better financial landscape. To learn more about the ONE VIP Card, visit https://onevip.com/

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