Ask These Guys

Getting a credit card early is a good idea but only once you understand how a credit card works. Companies often offer to open accounts for college students even if they are without assets, in the hope of reaching customers early. Young people buy impulsively and end up paying the most interest. This is good for the credit card companies and bad for the young people. Most people seem to go through a period of spending way too much on credit and getting in debt in their 20s.

Once you are out of college you will usually be required to have a minimum salary to qualify for a card. If you do not qualify on your own though you may still be able to get a card with the help of a cosigner with established credit, most likely one or both of your parents who promises to pay your debts if you don’t pay them.

When deciding which credit card to apply for consider the factors of APR (annual percentage rate), service charge fee, and benefits (such as cash back or frequent flyer miles.) Look for a card with the lowest possible APR you can find as this rate will determine how much interest you have to pay. Try not to apply for a credit card with a rate above 16%.

Note that Visa and Mastercard are issued by many different banks so one Visa and another Visa card for example may have completely different ratings.

It’s a good idea to get a credit card even if you have no plans of “spending money you don’t have” because credit cards can make it much easier to purchase items online and they can come in handy in many other situations. But the point of this article is that it’s important to get a credit card and use it (and pay off the balance) because this will get your credit rating up. This will help when you are trying to purchase a car or a home.

—-

Contributer To Love You Deer’s Blog of Life

Buying diamonds has been shrouded in mystery ever since the DeBeers family monopolized the business and invented the marketing campaign that enthralls the hearts of women everywhere, along with the wallets of their men. No longer. The secrets of the universe (of diamonds) will be revealed below. Try not to cover your eyes.

First, make sure you know the shape of the diamond you want. The most common are “Princess” (which looks square from the top) and “Round” which is also called “Brilliant” or “American” cut. Your jeweler can show you other popular cuts, but some of the ones worth mentioning are “Pear”, “Emerald”, “Oval” and “Heart”, all of which look pretty much like what you would expect.

Once you’ve determined the shape you’ll be getting you can start thinking about quality vs. price. Foremost, it is best to stick with diamonds that are GIA certified because although the price tag might start slightly higher, it’s the only way for the amateur to be certain of the quality.

We’ll start with the most difficult factor: Cut. And I’ll start by telling you to ignore it for the most part. Basically, if the diamond is too shallow or too deep it will affect how it “sparkles”. Just make sure the diamond looks fairly normal and you’ll be fine. PRO TIP: Personally if you do research cut further I recommend slightly shallower than “perfect” depth because while the sparkle may be slightly less, it looks bigger.

Clarity is a measurement of internal imperfections within the diamond, often called “inclusions”. The measurement has several abbreviations which are often followed by a number. FL or IF means Flawless, or Internally Flawless. VVS1 means a very, very slight inclusion (these diamond guys are real technical, you know?) and VVS2 is a slightly larger one. Both of those require high magnification to see the imperfection. VS1 and VS2 (very slight inclusion) are still difficult to see under 10x magnification and SI1 and SI2 are right on the border of “visible to the naked eye”. If you’re looking for your best value, SI1 or SI2 is it. After that it goes I1, I2, I3 which represent progressively larger inclusions which can be (in the case of I3) quite obvious to anyone who looks at the stone.

Color is measured in letters which begin with D, which stands for “Colorless”. E and F are slightly less colorless to electronic color measuring equipment, but not human eyes. G, H, and I are considered “near colorless” and it goes on from there into the yellows (and pinks, and more!). G is where the best value is because it is technically colored but appears colorless to anyone who isn’t a color scanning machine built for rating diamonds.

I won’t counsel on “Carat” or stone size, but no matter what size you get the best value is somewhere in the G/SI2 range. These stones are on the border between imperfections which are very obvious to specially designed machines and almost completely flawless to the naked eye.

Be sure to compare prices. A lot. A lot of money is at stake here, as I’m sure you know. Many department stores will have uncertified diamonds at “reasonable” prices. They are not good values for the money, so shop around.

Michael Wangner is a wedding consultant for Gifts and Otherwise, an online retailer of cheap wedding favors and bridesmaid gifts.