Gift cards are making a comeback this credit-crunched holiday season, so if you plan to give or receive them, familiarize yourself with the new rules on gift cards slated to go into effect August 2010.

True–the regulations won’t be in place till next year, but cardholders often hold on to gift cards long enough that you may see how the new rules will benefit you. The Federal Reserve proposed these consumer safeguards—which are still up for revision this month—as part of the CARD Act. These protections for consumers implement stricter reforms on the fees and expiration date of gift cards, gift certificates, and general-use pre-paid cards.

Here’s a rundown of the proposed rules: Issuers are not allowed to charge dormancy or service fees on inactive cards unless it has been inactive for at least a year. After that, issuers can only fine the card for inactivity once a month. Also, monthly maintenance fees, balance-inquiry fees, and re-loading fees will be banned. Expiration date is extended so that all gift cards are usable up to 5 years after the purchase date. And finally, issuers are required to have full disclosure of the possible fees, dormancy charges, and fine-print policies your gift card is subject to.

As we wait for the CARD Act’s gift card reforms to take place and revamp the rest of the gift card marketplace, consumers can also take steps to protect the value of their gift card:

If you are buying a gift card, read the fine print and look out for any upfront fees. For example, general-purpose gift cards offered by issuers like American Express and MasterCard typically charge $4-$7 for purchasing a card and may have additional policies that could cost you. The CARD reforms do not prevent upfront sales fee, so don’t be surprised if issuers decide to raise this cost in the next few months. Also, you can save money and shop around for discount gift cards. Check out Plastic Jungle, which is part of a growing crop of gift card trading marketplaces that allow you to trade, sell, or buy gift cards at a discounted price.

If you receive a gift card, read the fine print and look out for maintenance fees, which charges you if the first purchase is made but you leave a balance on the card. Also, keep the receipt of your gift card just in case your card is lost or stolen and your issuer does not replace for free. Finally, try and use it as soon as possible so you don’t have to worry about the extra cost of fees and expiration dates prior to the effective date of the new reforms. And always keep track of your balance so you don’t make a bigger purchase than your card can afford.

Some big issuers have revamped their policies to be more consumer friendly, however these federal reforms are necessary to make sure gift cards are regulated just credit cards. In September, American Express eliminated its $2 monthly dormancy fees that it charged. Also, Macys ended expiration dates for any gift cards purchased after February 2008, and Best Buy gift cards no longer have any inactivity fees, usage fees, and expiration date. The gift card marketplace is already shaping up, just in time for the holidays.

With these reforms in place and less fees to worry about, gift cards are becoming a no-risk alternative to spending credit or debit. As long as you’re mindful of the fine print, its financially-savvy to take the leap and gift with gift cards.

At Credit Karma Blog, what goes around comes around… So what do you think about this post? Agree, disagree, or have something more to say? We’d love to hear your reactions!

With less than 2 months till Christmas, its prime time to be writing up your Christmas gift list, doing some window-shopping, and scouring deals for Black Friday (3 weeks away!). But are you also getting your wallet ready for the holiday spending spirit? Budgeting and practicing within-your-means spending is going to be key to surviving through to New Years with your credit score intact and your finances out of debt.

Not to put a damper on the joy of the coming months, but realistically this holiday season could be a minefield of risks that could blindside your credit report and bank account. Racking up charges up to your credit limit could lower your score, extra fees on credit cards and the risk of overdraft charges on debit cards take chunks out of your savings, and just like with holiday pounds, you could gain debt faster than you can work it off. WiseBread posted an interesting blog about “frugality fatigue,” suggesting that after the recent years of tightened spending and penny-wise habits, people are looking to spend and return to the old ways of credit cards and overspending. An American Express survey of consumer attitudes found that 80% of consumers still intend to buy gifts this holiday season, with 36% planning to spend $100-$499, 28% to spend $500-$999, and a full 30% spending $1,000 or more.

Whether you plan to spend $100 or $1,000, the next two months of gift shopping, eating out, entertaining, and traveling could deplete your savings and hit your credit score harder than you are prepared for. Besides healthy credit and stable savings, there are many good reasons to be prudent with your holiday budget this year so you can start 2010 in good financial health. The following tips can help you save money and care for your credit without skimping on the holiday extravagance:

Protect your Credit

1. Plan ahead to minimize overspending – Before you even go to the mall or shop online, make a list of who you have to buy for and stick to it. It will help you stay on budget and on track, and minimize the possibility that you might start browsing and shopping for yourself. Also, remember as you shop not to overspend just because you might be charging credit. Rule of thumb: spend only what you can afford to pay off RIGHT NOW; shop like your credit card is a debit card and go straight home after shopping and pay off your credit card so you won’t be tempted to carry a balance and rack up interest charges.
2. Opt out of traditional credit cards – Pre-paid credit cards are a good alternative to credit cards because you don’t risk overspending on what you deposit, you can still build credit, and you won’t pay interest; the trade-off is you have to pay an annual fee. Or think about paying cash or using a secured card, both of which will not hurt your credit score.
3. Steer clear of store credit cards – Read the fine print of a store credit card or retail card and you may find that the membership benefits or special discounts you’d receive for opening the card isn’t worth the high interest rate and extra charges that comes with it. Store credit cards typically have a interest rate far higher—sometimes double the APR like Macy’s 23.99% APR or JC Penney’s 24% APR card—than a normal credit card. Also, store credit cards often stipulate that you must spend a certain amount through the year in order to qualify for discounts or benefits, have high late payment fees that increase with the balance, require a minimum purchase within a period of time to keep the benefits, and more. However, store credit cards are beneficial if you are sure to pay off your balance in full every month, that way you can get your 15% discount without risking paying a 25% interest rate. For information on specific cards pros and cons, check out Store Credit Cards: A Rip Off?

Shop smart, shop early

1. Save on shipping – More and more on-line retailers are extending offers of free shipping to get more customers clicking and buying. Look out for major retailers like Target, which launched its holiday free-shipping promotion on Nov 1, Walmart, which ships free to a nearby store, and more stores mentioned here to see where you can save. More tips:
   • Some online merchants time their free-shipping deals right before the week of Thanksgiving and Christmas to move inventory faster.
   • Websites like freeshipping.org and coupon sites like slickdeals.net and fatwallet.com list specific merchants with free or discounted shipping. Also, mark your calendar for Free Shipping Day, when participating merchants offer free shipping this Dec 17 and guaranteed delivery by Christmas Eve.
   • Amazon’s “Super Saver” shipping gives free shipping for most purchase orders over $25; if you are a few dollars short of $25, www.slickfillers.net lists items as low as $0.35 so you can fill in the few dollars or cents and get free shipping.
2. Get it while it’s hot and in stock – Ever heard of deal-of-the-day sites that only sell one product at a time, at a deeply discounted price, until it runs out and moves on to the next item? They are insanely popular all over the web and addictive to watch and track to see what the next item will be. Deal of the Day Tracker monitors most of these sites, which sell everything from discount duds to army knives and electronics, and shopping here could save tons of money on high-quality gifts and also practical items. Some sites, like Red Tag Crazy, can alert you via text message, e-mail, or instant message so you can know what is selling like hotcakes at 3 am.
3. Check your mail - Going through your junk or spam mail can pay off if you find some special offers from retailers’ emails. More and more retailers are sending customers special offers by e-mail or mail instead of mass advertisements of sales. Sign up for mailing lists or loyalty clubs at stores you want to spend at (for buying gifts for others, not for yourself!), and pay attention to email (you might have to wish out of your junk mail folder) that might hold big sales or coupon codes exclusive to customers on their mailing list.

At Credit Karma Blog, what goes around comes around… So what do you think about this post? Agree, disagree, or have something more to say? We’d love to hear your reactions!

Move over Halloween and holiday stores; mainstream names from Gucci to Toys R Us might be the new seasonal retailers popping up at your local mall for a limited time only.

They are called pop-up stores or shops because these temporary retail operations literally pop up and disappear after a short amount of time. While Halloween costume shops and Christmas décor stores have been doing this for years, nowadays big-name retailers as well as niche retailers are filling mall vacancies for a few days or weeks instead of opting for long-term lease commitments.

And who wouldn’t blame trendy retailers and brands like Urban Outfitters, Target’s hip Isaac Mizrahi brand, and even luxury brands like Gucci for trying out the “get it while you still can” approach in the midst of this recession? It’s a creative way to fill up mall vacancies, get rent at a fraction of the price, to take advantage of the deflating commercial real estate market, to generate buzz around new products and brands, and set up and close down without much fuss. It’s also been effective in broadening market opportunities for larger department stores that need a fresh, new outlet: Toys R Us has opened Holiday Express locations in upscale malls that were previously off limits, and JC Penny is testing out interactive mall pop-ups that sends text messages to cell phones when shoppers get within 35 feet.

But smaller boutique names are getting in on the “now you see it, now you don’t” model too. For lesser-known brands, pop-up shops is becoming an ideal way to test our new lines without too much commitment, and an edgy, creative way to meet consumers. Lightning Bolt, a surf shop meets lounge bar, hosts a pop-up shop on Saturdays in New York City where you can check out its surf collections while sipping cocktails and grooving to a live DJ. Talk about cool, hip, and oh-so-limited.

In these frugal times, these quickie retail stores are a hot and recession-friendly bandwagon for retailers and landlords to happily jump on-board. A 5 day or 5 week lease is a lot less risky and easier to sign off than a 5 year lease, plus businesses can now strategically plan their retail operation quickly and with less fuss and complications, knowing they have a limited timeframe to operate.

This is a win-win-win situation for retailer, landlord, and shoppers too. I wouldn’t be surprised to see pop-up stores coloring bleak mall landscapes hit hard by the recession. With something fresh and new to offer, these pop-ups are helping shoppers get back in the saddle and back into malls for the holiday shopping season. But get in line while you still can; the next pop-up shop might disappear faster than you can say, “I want that!”

At Credit Karma Blog, what goes around comes around… So what do you think about this post? Agree, disagree, or have something more to say? We’d love to hear your reactions!

Pre-Paid debit cards are the “Other Plastic”, an alternative to credit cards that won’t rack up interest charges, increase your debt, or give you that queasy feeling of buyer’s regret the next day. If you are unable to pay off your balance and with credit card interest rates sky-rocketing to nearly 30%, you’ll want to curb your credit use this holiday season. Think of pre-paid cards as plastic cash, which will prevent you from spending beyond your means and make you think twice when you splurge because splurging will deplete your money immediately, rather than be just a line item on a receipt to be paid off later.

Pre-paid credit cards are especially useful for people with poor credit or no credit history who can’t get approved for a typical credit card. It’s a credit-healthy way to spend responsibly while building positive credit history and a better credit score. It’s simple: you pre-load the card with money, spend as you wish, and you have no bills to pay at the end of the month. You still get the perks of the convenience of a credit card, while avoiding unnecessary fees and finance charges. Best of all, you can still build a positive credit history (but always check with your issuer if they report to the credit bureaus). Your pre-paid card will be your training wheels to help you get the hang of credit without the risk of incurring debt or defaulting on payments. This is also a smart option for younger consumers affected by the upcoming CARD act provisions .

The pre-paid trend isn’t just limited to credit cards; these other pre-paid products can help you monitor your spending and still get what you want:

• Pre-paid cell phones have been around for awhile, and are still the no-hassle alternative to a contract phone. You pay for the minutes you want and load up more when needed; the only catch is that you might run out of minutes sooner than you think. You don’t even have to worry about a credit check, which some carriers do when you sign up for phone. One of Credit Karma’s favorite deals is the T-Mobile’s FlexPay for BlackBerrry Curve 8900.
• Gift cards are the “more personal than cash, less hassle than a present” staple at birthdays. You might have thought these were on the wane, but PlasticJungle.com has revived the gift card marketplace by allowing consumers to trade, sell, buy unused gift cards so you can buy stuff at places where you actually shop. It’s a better answer to retail therapy that won’t max out your credit or damage your score.
• Pre-pay your college tuition? Believe it. Some programs, most notably the Florida Prepaid College Plan in Florida and the Independent 529 Plan for 270 private universities nationwide, are urging parents to consider prepaid college tuition plans to secure their children’s future at a more affordable rate today. How much you can save depends on how soon you start saving, and with the inflating cost of higher education, locking in your costs at today’s tuition prices will save you potentially thousands. Keep in mind that these prepaid plans does not account for books, food, transportation, and lab fees that can add up to nearly half the cost of the entire college price tag.

Bottom-line?
Pre-paid is a good way to go if you are prone to overspending or need to get you back on track to good credit . With credit still tight in the marketplace but consumers showing a growing appetite for spending, I wouldn’t be surprised to see a lot more gift cards being swiped at the register or showing up under the Christmas tree this year.

Choosing the right credit card can be daunting when credit card applications bombard you with unfamiliar terms like variable default rate, cash advance transaction fee, and more APRs than you can imagine. Shopping for your next credit card starts with identifying your spending habits and how often you plan to use your credit card. Are you looking to earn rewards, for an emergency card, or an everyday-use card? Then check out the terms and conditions, especially the ones that affect your particular credit usage. Knowing your credit card and your specific needs before you sign on the dotted line can help you hone in on the key terms that will benefit or cost you.

REWARDS SEEKER - If you are itching for your next vacation, a rewards credit card can get you on a flight to Hawaii sooner. Just make sure you read all the rules and restrictions of the rewards program to make sure your credit usage will qualify you for the flight mileage or travel packages that you want.

• Know what kind of rewards you can get to make sure you are able to redeem enough to make the card worth it for you. If you are a frequent flyer or stay at top-of-the-line hotels, then you can potentially earn lots of rewards from your card. The Starwood Preferred Guest Credit Card is a great choice for jetsetters because it offers one of the best hotel loyalty and airline miles program with the least restrictions. But, in order to take advantage of a bonus 15,000 points on your Starwood card, you would have to spend the equivalent of $15,000 within 6 months to get 3 free nights in selected hotels. If you can hit this spending threshold without going bankrupt, then this is the right kind of card for you.
• Look at the APR for purchases at the bottom of the application because rewards card tend to have higher variable APRs than other cards (you are getting hotel stays and airline flights out of it after all). A rewards card works best for people who don’t carry a monthly credit card balance, or else you might end up paying for the rewards you accumulate many times over in steep interest charges.
• Also, look out for an annual fee; you’ll get the most out of a rewards card by using it regularly enough to benefit from the rewards program that fee pays for.

FOR EMERGENCIES ONLY – You want a credit card handy to back you up for when you have a financial emergency or want to buy a big ticket item. For the times you need credit quick, watch out for any extra APRs or fees that could make you pay extra for credit card features you won’t be using often.

• Cash Advance APR is an important interest rate to check out on the application, especially if you’ll be tempted to use your credit card to withdraw cash often. The rate is often high for most cards and usually upwards of 20% or more, which means even a small $50 cash advance can rack up a $10 fee.
• If you want to use your credit card as a backup to your checking account for the times you overdraw your funds, check out the Overdraft Advance APR, which also tends to be upwards of 20%. Depending on the increments your credit will deposit into your checking, anywhere from $20 to $200, relying on your credit card to keep replenishing your debit can cost you fees and interest.
• Finally, be sure to pay off your balance so you won’t get stuck paying high interest on your occasional purchases. If you only use your card for emergencies or big ticket items, a 0% APR credit card like the Citi Platinum Select Card gives you a 0% APR for the first 6 months, which is like getting an interest-free loan on your balance.

EVERYDAY PLASTIC ADDICT- Your credit card is your best friend, and it goes everywhere with you and pays for everything. For regular plastic users like you, a cash back credit card will give you the most benefits from daily charges.

• Be responsible with frequent credit use and make sure you don’t spend more than you can afford to pay back. One glance at the default APR, which is often double the original APR at around 30% or more, will tell you how much you’ll be paying in interest if you don’t pay your monthly balance on-time and in full.
• Since you may be using this card more than your other credit cards, you might want to think about doing a balance transfer, which will transfer the balances of other cards to one card so you can pay off the balances more efficiently and at a potentially lower APR. Read the fine print on balance transfer APR plus an extra transaction fee for balance transfers. If your card has a lower APR and a 0% balance transfer APR, you can pay off the balance of other cards at a lower interest plus you don’t have to pay extra interest on the transfer.
• Finally, know your credit limit and make sure you don’t end up paying an over-the-credit-limit fee, also covered in the fine print, for all of your regular or impulse purchases that rack up.
• Credit card-addicted users like you benefit the most from a cash back credit card like the Chase Freedom Credit Card, which gives you $50 back on your first purchase and will let you earn more money as you spend. Most cash back credit cards offer around 1% cash back earning power on every purchase, plus a higher rate for everyday purchases, such as Chase’s 3% cash back in rotating categories like department stores, home improvement, and gas.

One last note on the fine print: Despite what the Pricing and Terms page will tell you about the rates, fees, and costs that you should know before you complete your credit card application, these conditions are subject to change according to the issuer and the Prime Rate. Check out the Credit Cardholder’s Bill of Rights for your rights as a cardholder and the new regulations, like a 45 day advance notice on interest hikes, that keep issuers in check.

MoneyStrands, a personal money management website, teams up with Savings.com, an online coupon destination, to bring the first personalized coupon recommendation feature of its kind to consumers through an online personal finance tool. MoneyStrands’ new partnership with Savings.com unites the two golden rules of good personal finance: money management and smart savings. Like peanut butter and jelly, the two just go hand-in-hand, and MoneyStrand’s new coupon recommendation widget provides users with saving opportunities for the items on their weekly shopping list, proving that frugal spending can be part of your daily financial tune-up.

Users get their coupon recommendations in the Special Offers widget under the “Just For Me” tab on MoneyStrands. The coupons are uniquely picked for consumers by filtering the best deals from Savings.com according to their particular spending habits as tracked by MoneyStrands. Often, your coupons will cater to your highest spending categories, so you can save the most on areas where you spend the most. As an added bonus, you get to see what Savings.com’s community of deal-hunters voted on as the best deals so you can identify which coupons other consumers found most valuable.

The old tradition of coupon-cutting has evolved into this trendy new way to click-to-save, and this feature could put MoneyStrands ahead of other personal finance tools like Quicken or Mint. Mint offers a similar feature that suggests personal finance products like credit cards or CDs, but you have to fill out a profile to get product suggestions while MoneyStrand’s platform presents you the coupons most relevant to your everyday shopping patterns every time you log in. The recommendations change as your spending habits change and there are never any forms to update. Now when you go to see your finances at a glance, you can see how to budget with what you have and save on what you shop for most.

Credit cards’ days may be numbered. Consumers are switching to debit cards, pre-paid cards, secured credit cards, and online cash payment and dumping the old “Charge it” routine. Households trimmed a record $21.6 billion off the amount they owe in credit card debt and other consumer loans in July. Many consumers are frustrated with credit line reductions, rising fees, and tightening lending standards. Consumers under 21 years old will soon be unable to get a credit card without a co-signer or proof of their ability to repay. Whatever the reason, swapping credit out and cash/card alternatives in is a turn many consumers are making. Consider these options if you’re ready to do some debt-free spending:

Debit Card

So maybe you aren’t exactly freeing yourself from plastic, but you are certainly reducing your risk of incurring debt by removing your use of credit. With a debit card, every purchase you make withdraws directly and immediately from your checking account. If you can avoid overdraft charges and usage fees, then a debit card is a quick and convenient extension of your cash-on-hand that will save you from a credit card’s interest fees.

Secured Credit Card

A secured credit card is very similar to a credit card, except that it requires a security deposit from the cardholder which is used as cash collateral against any defaulted payments, and it also does not require a good credit score for approval. Secured cards are especially popular with consumers trying to build or rebuild credit because it allows cardholders to demonstrate good credit use even if they have little to no credit history or poor credit history. As a safeguard, secured cards typically have low credit limits to help stop consumers from falling back into significant credit card debt. We recommend the Public Saving Visa secured credit card. It has no annual fee and reports your credit activity to credit bureaus so you can build your credit history over time.

Pre-Paid Card

With a pre-paid card, you deposit money directly into an account and you make charges on the card until the account runs out of money. Pre-paid cards are a convenient way for young people to learn to keep themselves on budget as well as for people who may not have a bank account but want the freedom of using a card instead of relying on cash. While pre-paid cards do come with fees, AccountNow’s card offers the convenience of cash and the opportunity to build your credit in a pre-paid card.

Online Cash Payment

Online cash payment, like eBillme, is a convenient alternative for online shopping that pays through your checking account. You avoid interest rates, identity theft, and overspending since your purchases can only be bought with your own available funds (no more online impulse buys!). But, just like with pre-paid and debit, eBillme can’t help you to build your credit report or teach you how to use credit responsibly.

There are many benefits to switching from credit to cash, and ultimately, if you need some training wheels for credit use or want to kick your credit habit all-together, definitely consider the credit-free path of secured cards, debit cards, pre-paid cards, and online secure cash payment solutions.

eBillme, a payment alternative that lets you pay cash when you shop online, is an innovative solution to debt-free, credit-free shopping that gives you the convenience and savings of online shopping without a credit card. Swapping your credit card shopping habits with eBillme avoids interest rates fees, identity theft, and possibly even some of those spontaneous, one-click impulse buys. For careful consumers sticking to spending only what’s in their bank account, eBillme is a free and easy option that is less hassle than a debit card, less complicated than PayPal, and far less risky than credit cards.

eBillme is super simple. Just shop where you normally shop and when you’re ready to check out, look for the eBillme logo; it’s available at over 800 merchants and growing every day. If eBillme is a payment option, select it and submit your purchase and eBillme will send the bill to your online banking account. Log into your online bank and pay the eBillme bill just like you would your cell phone or credit card bills and viola — the retailer will release your purchase for shipping! While you will dodge potential credit card debt, paying cash will immediately shrink your bank account with every purchase, so make sure your late-night shopping sprees won’t shortchange you on your utility bills the next morning. This also limits the type of purchases you can make online since you will need to have the available money now in order to buy, rather than relying on credit to let you pay it off later.

eBillme also provides consumers several money-saving opportunities including rebates, deals, giveaways and even cash back on purchases. eBillme Stores helps you save more money by offering rebates for shopping with eBillme at select merchants, while the Debt Free Shopping Mall helps you search through products, deals, and even giveaways and contests at participating sites. eBillme Rewards gives shoppers more to cash in on by providing similar earning power as a rewards credit card with 1% cash back on all purchases. Along with the savings comes some protections, like Satisfaction Guarantee for no-hassle returns, a Buyer Protection policy that price-matches your order within 90 days of purchase, and protection against hackers and identity thieves.

Paying with cash at eBillme gives you the control, convenience, and security often only associated online banking. It is a great option to keep in mind if you are trying to keep yourself from getting in over your head with debt or if you don’t have a credit card yet. However, keep in mind that retiring your credit card from online shopping also means you will not be building credit or improving your credit report through regular credit use. But at least with eBillme, you can shop debt-free using secure cash payments with some of the benefits of a credit card and absolutely none of the fees.

Designed for consumers in the top-earning 15 percent of American households, Chase’s Sapphire Credit Card is definitely a cut above the usual plastic with its indulgent Ultimate Rewards program of unrestricted travel packages and generous shopping rewards. Rivaling American Express for a spot in the wallets of affluent cardholders, Chase’s Sapphire Card has a low 12.24% APR on purchases, no annual fee, no limit on the number of points you can earn, and offers ultimate possibilities—maybe a vacation swimming with dolphins or even a personal meal prepared by a private chef if that’s more your style.

The Ultimate Rewards program of the Sapphire Card has the flash and pizzaz that only the richest of rewards credit cards can offer. 10,000 bonus points come along with your first purchase on the Chase Sapphire card, and from there you earn one point for each dollar you spend and absolutely no limit on how many points you can earn. Accumulate points and trade them in for travel bonuses, exclusive vacation experiences, shopping, dining and entertainment packages, or credit/cash back.

The Ultimate Rewards travel bonuses are some of the most generous as far as reward credit cards go, with no expiration dates and no black-out dates. If you can dream it and want to spend it, then Chase Sapphire can redeem your points for virtually any rewarding vacation you may desire, just choose your airline (will that be first class or coach?), hotel, and special accommodations for your high class taste like rental cars, and that dream vacation is yours.

Ever wanted to go on a hot air balloon ride, score VIP passes to American Idol, or go to your favorite sporting event? Chase Sapphire points gives you access to extraordinary travel opportunities and events offered exclusively through Ultimate Rewards. Sapphire cardholders can also book top cruises or themed vacation packages, like golf or culinary experience, for one-of-a-kind packages waiting to be unlocked every time you spend.

With Chase Sapphire points, you can really cash it in by spending points at Chase’s online mall featuring over 300 merchants or through gift cards at your favorite retailers like Macy’s and Best Buy, or you can exchange your points for a rewards check you can deposit directly into your bank or even Pay Yourself Back by redeeming your points for credits on your Sapphire card statement.

In addition to these Ultimate Rewards, the Sapphire card has many of the bells and whistles you would expect to service a high roller, including Auto Rental Collision Damage Waiver, Trip Delay, Price Protection, Zero Liability, 24/7 access to a concierge, and 24/7 access to a dedicated customer service person – yes, a live person on the other end of the line with no more robotic voice asking you to, “Press 4 now if….”.

While only a select few of us will be enjoying the luxuries, cruises, and new toys offered through the Chase Sapphire Ultimate Rewards program, it is a great opportunity for those who qualify to earn more, access more, and make dreams become a reality. As for the rest of us, it’s a great opportunity to window-shop.

Picking out your cell phone is like being torn between best friends—there’s the rock groupie who attends every concert, the overachiever prepping for grad school, and the one plugged into Facebook at all times. Cell phones have personalities which match different features and perks, but the trick to picking the right phone is figuring out what fits your needs and lifestyle. These are my top 5 picks for back-to-school shopping 2009, and with cell phones this great, you’ll want to tote your little buddy in your backpack everywhere you go.

For the text-messaging junkie texting during lecture

The LG enV Touch perfects text-messaging convenience and style with a spacious, easy-to-use QWERTY keyboard, a dedicated text-messaging button, a Favorites keyboard button for favorite contacts, and two brilliant touch-screen displays. High-end features like the added 3-inch touch-screen on the front upgrades the enV Touch with a sleeker design than its Voyager and enV3 predecessors. You definitely won’t be disappointed with the integration of touch-screen interface and flip-open full keyboard that will hold your attention way longer than that last text message conversation.

For the aspiring Mr./Mrs. Trump with a Business degree

The RIM Blackberry Curve 8900 Smartphone is a necessity for the grad school wannabe who needs fancy multi-tasking capabilities so they can edit their resume and schedule their week all while recording notes for class. With its full, improved HTML web browser, Wi-Fi network with UMA support , built-in GPS, the thinnest full QWERTY Blackberry keyboard yet, more downloadable productivity tools and applications, and a thinner, light-weight design, the newest Blackberry definitely delivers. The new UMA support allows for free calling within the Wi-Fi network. This phone’s balance of work and play will help you transition seamlessly from student to mobile professional.

For the music junkie at every campus concert

Sony Ericsson W760a is the multimedia lover’s dream with some of the best music and gaming features of any phone on the market.
Highlights include TrackID to record and identify unknown songs, Shake control to change tunes, gaming functions that include tilt control motion sensor, Media Go entertainment organizer that drags and drops media between PC and phone, Walkman quality tuner and sound, SensMe playlists created according to your mood, and picture blogging capabilities direct from your phone.
Add in the MegaBass stereos right on the face of the phone, and you have a virtual concert tucked away in your backpack.

For the one with the latest, high-tech gadgets in his dorm

Sony Ericcson Cyber-Shot C905 blows other camera phones out of the water with an extraordinary 8.1 megapixel Cyber-Shot camera poised on the other side of the phone. It has shares lots of smart features with the Sony Cyber-Shot camera including four different resolution settings, face detection, Smart Contrast, Photo Fix, and GPS tagging, plus a 160 MB internal memory and a memory stick slot to add up to 16 GB to your picture capacity. With a camera this killer on your phone, you might find yourself spending more time taking snapshots then making calls.

For the Trust Fund baby/Ivy League School student

The Samsung Memoir is ridiculously expensive, tricked out with top-of-the-line features, and the most uber-luxurious toy a student could ever need. If you’re looking to splurge, this would be it. The near $600 price tag comes with a high-res 8 MP camera with 16x zoom and Xenon flash, perfected TouchWiz interface with customizable drag-and-drop widgets and easy navigation, strong multimedia capabilities, HTML browser, and a virtual touch-screen QWERTY keyboard.
It’s main focus is the feature-rich camera and its solid construction. If you are willing to spend on it, you might find yourself eating Mac&Cheese for a few months, but you’ll be styling with a really sweet phone.

Cool Phone Disclaimer:

If you are signing up for a standard two year contract with a wireless carrier, your credit score may be checked and bad credit could stand in the way of you and your perfect mobile companion. A poor credit score might not stop you from texting, but it may mean you have to pay full price for your phone instead of a promotional price. Also, the carrier may require you to sign you up for a prepaid calling plan if they find too much bad static on your credit report and score. Here is yet another significant reason to keep your credit health in check: it might just cost you a really cool cell phone.