<img src="https://static-ssl.businessinsider.com/image/5cfacc1111e2053be2013663-2400/tori-dunlap-headshot.jpg" alt="tori dunlap headshot" /><ul class="summary-list"><li>When I tell people I don't have a debit card, they're always shocked.</li><li>But I find using credit is safer, more convenient, and helps me earn rewards that debit cards don't.</li><li>The only hassle is planning ahead to get cash, either from my bank or when checking out at a retail store. I don't need cash often, though, so it's not enough to make me get a debit card.</li><li><a href="https://www.businessinsider.com/best-rewards-credit-cards">See Business Insider's picks for the best rewards credit cards »</a></li></ul>When I tell people I don't use a debit card, they give me this look like I'm utterly crazy. "You don't have a debit card?" they ask me incredulously. "How do you get by?" I literally do not own a debit card. I never have. <a href="https://www.businessinsider.com/reasons-to-use-credit-cards-vs-debit-cards">I use credit cards instead</a>. There are many debit card risks people fail to think about, and it may not be the best choice for you financially. To the dozens of people who have asked me, "Why?!": This post is for you.<h2>1. Credit cards provide better security</h2>What happens if you lose your debit card and don't figure it out for awhile? What if someone figures out your PIN? If theft were to occur, someone has direct access to your bank account (and everything in it). It's much harder to prove fraud with a debit card, and much more debilitating should something terrible happen.If fraud occurs on a credit card, I simply dispute it. If I see any suspicious activity (I've had multiple double charges this year) I simply flag it and let the credit card company handle it.In a bigger city, your own physical security is something to consider. I don't like the idea of carrying a ton of cash in my wallet, and potentially being mugged or having my purse stolen. If I were to lose my purse because of my own negligence, I can just cancel my credit cards - I don't have to worry about losing a significant amount of cash.Lastly, some credit cards also provide extended purchase warranties, which means if something happens to the product you bought - such as it broke unexpectedly or was stolen - they will reimburse your purchase. Now that's service. <h2>2. I don't want to pay ATM fees</h2>Ever been in a pinch and needed to use a non-bank ATM? If you're not careful, ATMs can charge you a lovely fee for getting your own money out (which has always seemed crazy to me - I have to pay you to get my money?) ATM fees are pretty hefty. I've seen them as high as $2 per withdrawal up to $7. That is ridiculous.By not using a debit card, I don't have to worry about ATMs at all. I hardly ever go to a merchant that doesn't take a credit card, and I can always adjust my plans if need be. If I need cash for something, I withdraw it from my account ahead of time, usually through cash-back at a checkout. Be careful, though! Some merchants are starting to charge for cash back during retailer checkout, so make sure to read the fine print before you take out the $20 at the end of your purchase. <h2>3. I earn rewards with my spending</h2>When I put everything I buy on my credit cards, I can rack up huge cash back and travel rewards. I don't even have to think about it, and the rewards just stack up. It's another form of free money, y'all. After signing up for the <a href="https://thepointsguy.com/card-details/chase-sapphire-reserve/?utm_campaign=bi_td_why-i-dont-have-debit-card&amp;utm_source=referral" rel="nofollow">Chase Sapphire Reserve</a> card this year, I was able to earn tens of thousands of points I will later redeem for travel, cash, or other amazing perks. Most credit cards have some form of rewards and if you're a responsible credit user and pay off your card every month, this is like extra free cash.The Reserve gives me 3x points on all my travel and food purchases, and each point is worth 1.25 cents toward travel when you book through Chase. To put that in perspective, let's say you had 50,000 points earned in rewards and you wanted to purchase a plane ticket through Chase - that's equal to a $625 plane ticket or hotel room.Great travel cards such as the <a href="https://thepointsguy.com/card-details/chase-sapphire-reserve/?utm_campaign=bi_td_why-i-dont-have-debit-card&amp;utm_source=referral" rel="nofollow">Chase Sapphire Reserve</a> also provide extra rewards such as no foreign transaction fees and premium car rental insurance when you're traveling abroad. It means that if I get into an accident while traveling (hopefully never) I don't have to report it to my primary car insurance, because Chase acts as my primary instead. It could literally save me hundreds of dollars in car insurance premiums.<h2>4. I'm building credit every month</h2>A <a href="https://www.businessinsider.com/what-is-an-excellent-credit-score">great credit score</a> is your window to every financial opportunity. By using a credit card responsibly (paying your bills in full, on time, and utilizing 30% or less of your credit limit), you can begin to <a href="https://www.businessinsider.com/how-to-increase-your-credit-score-improve-credit">increase your credit score</a> and set yourself up for better financial opportunities. I got my first credit card when I was a teenager, and now have a great score (795). This score helped me get a <a href="https://www.businessinsider.com/best-car-loans-options">lower interest rate for a car loan</a> or mortgage, and will set me up for more success down the line. Credit scores are basically your adulting GPA with the banks, rental companies, and even sometimes employers. It shows that you can pay your bills on time and don't overspend what you can afford. Think of it as a well-researched paper or a test you did a lot of preparation for.<h2>5. I can easily track my purchases</h2>I find it so much easier to track and understand my spending when I see it all broken down for me on my credit card statements every month. There is little to no cash in the equation, so I can see exactly where and when my money went. This helps me understand where my money is going at all times and how far under or over budget I am.I also connect my spending with other money tools such as Charlie and <a href="https://track.flexlinkspro.com/a.ashx?foid=1067927.139959643&amp;foc=2&amp;fot=9999&amp;fos=1&amp;fobs=bipfi_why-i-dont-have-debit-card" rel="nofollow">Personal Capital</a>, which together give me a comprehensive understanding of where I am with my financial goals. <h2>6. I've never really needed a debit card</h2>My parents have never had a debit card (I know, right?!) and instilled this in me. If I need cash - usually for a trip - I go to the bank and withdraw the money from my account. Almost every business takes credit cards anyway, but I always keep about $20-50 of cash on me, just in case of emergencies. When I travel, I usually carry more for security, which I withdraw from my bank before I leave.Most places in the US take some form of card, which makes a debit card unnecessary most times. Payment technology is constantly changing and some places take payments in the form of Apple Pay, Google Pay, and card tapping payments. Unless you're going somewhere remote, you're most likely not going to need a debit card. <h2>That said: There is one downside</h2>Sometimes, you just need cash. And when a bank is closed (or you only online bank), have fun getting access to your funds. One suggestion is to keep a small stash of cash someplace secure where you live. You never know when you might need cash for an emergency, plus cash advances from credit cards are crazy expensive.A debit-card-free lifestyle may not be for everyone, but it's worked wonders for me. It's another way to make your money work for me and not the other way around. It provides me more security, I find myself better with money, and I get cash back or miles for every single purchase I make - and that's a serious win in my book. <ul class="read-more-links"><li>More <a href="https://www.businessinsider.com/category/credit-cards">credit card</a> coverage</li><li><a href="https://www.businessinsider.com/best-airline-credit-card-comparison-delta-united-american">What's the best airline credit card?</a></li><li><a href="https://www.businessinsider.com/best-cash-back-credit-cards">The best cash-back credit cards</a></li><li><a href="https://www.businessinsider.com/southwest-credit-card-comparison-which-to-get">Southwest credit card review</a></li><li><a href="https://www.businessinsider.com/best-rewards-credit-cards">Best rewards credit cards</a></li></ul>Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.Business Insider may receive a commission from The Points Guy Affiliate Network, but our reporting and recommendations are always independent and objective.Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

People are always shocked to hear I don't have a debit card, but I think it's a no-brainer for 6 reasons

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5d7a97cc2e22af101c003ed8-1808/how-to-decide-if-credit-card-annual-fee-worth-it.jpg" border="0" alt="how to decide if credit card annual fee worth it" data-mce-source="Gabriel Garcia Marengo/Flickr Creative Commons" data-link="https://www.flickr.com/photos/gabrielgm/8708336568" /><a href="https://www.flickr.com/photos/gabrielgm/8708336568">Gabriel Garcia Marengo/Flickr Creative Commons</a></div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/best-credit-card-reward-program">Travel rewards</a> and <a href="https://www.businessinsider.com/best-cash-back-credit-cards">cash back rewards credit cards</a> sometimes charge annual fees, but those fees can be worth it.</li><li>If you're wondering how to decide if a credit card annual fee is worth it, it comes down to the numbers: Do the math to compare rewards, benefits, credits, and other perks to decide if a card makes sense for your needs.</li><li>Cards like the <a href="https://thepointsguy.com/card-details/chase-sapphire-reserve/?utm_campaign=bi_er_how-to-decide-annual-fee-worth-it&amp;utm_source=referral">Chase Sapphire Reserve</a> ($450 a year), the <a href="https://thepointsguy.com/card-details/chase-sapphire-preferred-card/?utm_campaign=bi_er_how-to-decide-annual-fee-worth-it&amp;utm_source=referral">Chase Sapphire Preferred Card</a> ($95 a year), and the <a href="https://thepointsguy.com/card-details/blue-cash-preferred-card-from-american-express/?utm_campaign=bi_er_how-to-decide-annual-fee-worth-it&amp;utm_source=referral">Blue Cash Preferred® Card from American Express</a> ($95 a year) can be worth the fees, depending on how you use them.</li><li>Ask yourself: Do you get regular rewards for your purchases? Will you take advantage of the card's benefits? Will you get a big signup or welcome bonus? If you don't use take full advantage, the fee might not be worth it.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>My first credit cards were basic student and cash back cards with no annual fee. I spent the first few years of my career completely averse to cards bearing an annual charge. I could spend money and get rewarded for free, I supposed, so why should I pay money to be able to spend money?It turns out that credit cards do a lot more than help you spend money. Unlike a debit card, credit cards come with <a href="https://www.businessinsider.com/debit-vs-credit-rewards-fraud">additional layers of fraud protection</a>. As you move up the tiers in credit card annual fees, you'll find better and better rewards and benefits. Use these questions to decide if the annual fee is worthwhile.<h2>How to decide if a credit card annual fee is worth it</h2><h3>1. Do you get regular purchase rewards?</h3>The most important part of your rewards credit card is the rewards. Cash back is easy to value, while travel rewards take a bit more math. With many rewards cards, you'll earn more in rewards each year than the annual fee.For example, the $95-per-year <a href="https://thepointsguy.com/card-details/blue-cash-preferred-card-from-american-express/?utm_campaign=bi_er_how-to-decide-annual-fee-worth-it&amp;utm_source=referral">American Express Blue Cash Preferred</a> offers up to 6% back on some bonus purchases. At the 6% rate, you have to spend just $1,583.33 per year to break even on the fee. Anything above that is profit back in your pocket.For hotel, airline, and credit card program miles and points rewards, points may be worth more or less than one cent each. <a href="https://thepointsguy.com/guide/monthly-valuations/?utm_campaign=bi_er_how-to-decide-annual-fee-worth-it&amp;utm_source=referral">The Points Guy keeps an updated list of values each month</a> that works as a great reference point when choosing a new card.<h3>2. Will you take advantage of the benefits?</h3>One of my favorite cards is the <a href="https://thepointsguy.com/card-details/chase-sapphire-reserve/?utm_campaign=bi_er_how-to-decide-annual-fee-worth-it&amp;utm_source=referral">Chase Sapphire Reserve</a>, which charges a $450 annual fee. One benefit included with this premium card is <a href="https://www.businessinsider.com/priority-pass-membership-credit-card-perk-2019-6">Priority Pass Select lounge membership</a>. The card gets me into more than 1,200 lounges at airports around the world. For long layovers and international trips, this benefit can make your trip a lot more comfortable and could be valued at around $30 per person per visit.<a href="https://www.businessinsider.com/how-to-get-free-checked-bag-delta-amex">Free checked bags</a>, <a href="https://www.businessinsider.com/how-to-get-priority-boarding-delta-amex">priority boarding</a>, <a href="https://www.businessinsider.com/credit-cards-with-primary-rental-car-insurance">rental car insurance</a>, and <a href="https://www.businessinsider.com/how-travel-credit-cards-can-protect-flight-delayed-2019-8">trip interruption insurance</a> are all great benefits that come with their own value if used. When renting a car, you can save around $10 to $20 per day using a card's rental insurance instead of what the rental company offers you.<a href="https://www.businessinsider.com/purchase-protection-credit-card-uses-types-2019-6">Purchase protection</a>, extended warranties, price change protection, and return protection are also great benefits to look for when picking a new card with an annual fee. If you take advantage, <a href="https://www.businessinsider.com/purchase-protection-credit-card-uses-types-2019-6">any of these benefits could be worth more</a> than an annual fee.<h3>3. Will you get a sign-up or welcome bonus?</h3><a href="https://thepointsguy.com/card-details/chase-sapphire-preferred-card/?utm_campaign=bi_er_how-to-decide-annual-fee-worth-it&amp;utm_source=referral">The Chase Sapphire Preferred Card</a> currently offers a larger-than-usual 60,000-point signup bonus after spending $4,000 on purchases in the first three months. When redeemed through <a href="https://www.businessinsider.com/chase-ultimate-rewards-tips">Chase Ultimate Rewards</a>, those points are worth 1.25 cents each, or $750 toward travel.The card charges a $95 annual fee, so the sign-up bonus is worth more than seven years of fees right away when getting started. As long as the card remains worthwhile in the long-term, signing up to get a bigger starting value from a bonus is a great credit card strategy.Related coverage from <a href="https://www.businessinsider.com/category/personal-finance-how-to">How to Do Everything: Money</a><ul><li><a href="https://www.businessinsider.com/how-to-get-a-credit-card-with-bad-credit">How to get a credit card with bad credit</a></li><li><a href="https://www.businessinsider.com/what-is-an-excellent-credit-score">Here's exactly what it takes to have an excellent credit score</a></li><li><a href="https://www.businessinsider.com/how-to-build-credit-with-a-credit-card-steps"> How to build credit with a credit card</a></li><li><a href="https://www.businessinsider.com/how-to-cancel-a-credit-card">How to cancel a credit card you no longer want</a></li></ul>More <a href="https://www.businessinsider.com/category/credit-cards">credit card</a> coverage<ul><li style="font-weight: 400;"><a href="https://www.businessinsider.com/best-airline-credit-card-comparison-delta-united-american">What's the best airline credit card?</a></li><li style="font-weight: 400;"><a href="https://www.businessinsider.com//best-cash-back-credit-cards">The best cash-back credit cards</a></li><li style="font-weight: 400;"><a href="https://www.businessinsider.com/southwest-credit-card-comparison-which-to-get">Southwest credit card review</a></li><li style="font-weight: 400;"><a href="https://www.businessinsider.com/best-credit-card-reward-program">Best credit card reward programs</a></li></ul>Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.Business Insider may receive a commission from The Points Guy Affiliate Network, but our reporting and recommendations are always independent and objective.Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/uk-restaurant-serves-biggest-burger-in-europe-2018-2">We tried to finish the biggest burger in Europe</a></h3> <div> <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/3rh8ofu8-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script> </div> </div>

How to decide if a credit card annual fee is worth it

<img src="https://static-ssl.businessinsider.com/image/58f63746c75d4a2d008b51a0-1468/snap-ondealervanwestlandmichigan.jpg" alt="snap-on dealer van" /><a href="https://en.wikipedia.org/wiki/Snap-on#/media/File:Snap-on_dealer_van_Westland_Michigan.JPG">Wikimedia Commons</a>A Snap-on dealer van.Did anyone in the White House vet this?Donald Trump is about to visit the headquarters of <a href="http://markets.businessinsider.com/stock/SNA-Quote">Snap-on Inc.,</a> a Kenosha, Wisconsin maker of tools sold to auto repair shops and mechanics. On paper, this looks great. The business dates back to the 1920s and makes tools used by blue collar workers. But that's not the whole story here. Snap-0n uses franchisees to sell its tools and it has an unsettling relationship with these small business owners. These franchisees accuse the company of keeping them trapped in a cycle of debt, by taking advantage of its position as a lender, charging rates of 17.9% to 19.5%, in a way that keeps them trapped in a cycle of debt. The company has said that those rates are commensurate with the quality of the borrower - which is to say, they know that their franchisees are not in the best financial position. It has drawn other complaints and lawsuits from its franchisees, and some on Wall Street find it disconcerting that this tool maker's fastest growing business segment is its lending business. Oh, and it manufactures some of its tools overseas, including in China. Snap-on did not respond to Business Insider's request for comment on this story.<h1>Never Google yourself, ever.</h1>If you read Snap-on's public documents, you won't find much about its issues with franchisees. Just a short boilerplate message:"Snap-on is involved in various legal matters that are being litigated and/or settled in the ordinary course of business. Although it is not possible to predict the outcome of these legal matters, management believes that the results of these legal matters will not have a material impact on Snap-on's consolidated financial position, results of operations or cash flows."Okay then, nothing to see here. Luckily, there is a fairly extensive log of Snap-on's settlements and alleged misdeeds on the Internet. <a href="http://articles.latimes.com/1988-07-06/business/fi-5221_1_california-dealers">Here's one from 1988</a>, courtesy of the Los Angeles Times, when a group of Southern California franchisees accused the company of making their routes too small for them to make a profit:The dealers claimed at a Claremont news conference that the Kenosha, Wis.-based producer of socket wrenches and other automotive tools creates uneconomically small sales territories for new dealers while seeking to break up the territories of existing dealers. By making each dealer sell to fewer and fewer mechanics, the company ensures that every dealer will give the maximum possible sales effort, but without necessarily showing a profit, the dealers said.And here's another - <a href="http://www.prnewswire.com/news-releases/ground-breaking-lawsuits-filed-on-behalf-of-wives-of-former-snap-on-tool-dealers-claim-company-fraud-causes-losses-58945037.html">a 2004 suit filed by the wives</a> of Snap-on franchisees who alleged the company hurt them by making "'false, fraudulent and misleading representations' that not only led to the collapse of their husbands' franchises but also resulted in the loss of the wives' own money and family savings."Google will also lead you to the charming parody site, <a href="http://crap-on.com/">Crap-on.com.</a> It hosts a litany of complaints from franchisees, including that the company refused to honor thousands of dollars in warranties. You can also take a look at what is purported to be the <a href="http://crap-on.com/wp-content/uploads/2016/05/SnapOnFDD2016.WI_.pdf">475-page franchisee disclosure document</a> you have to sign before joining Snap-on. That document includes <a href="http://crap-on.com/snapon-franchise-lawsuits/">a list of allegations</a> made against the company - we're talking everything from slander and defamation to fraud, breach of contract and negligence in handling plaintiff's inventory insurance claim. It's not the only place you can learn about disgruntled franchisees. Front and center on another site - UnhappyFranchisee.com - is the story of <a href="https://www.facebook.com/groups/1669630756659063/">King Regian</a> and his wife Sally, who are suing Snap-on.Regian, who did $1,025,784.00 in "collections" for the company in 2015 alleges that Snap-on went sour on him after he spoke at a trade show and advised franchisees not to invest their entire savings in the company and to, instead, diversify.When he started to return new items that he no longer wanted to sell, he and his wife contend that Snap-on made that as difficult for them as possible. Here's what they wrote on UnhappyFranchisee.com.In August 2014, we were sent a letter detailing a "newly created return procedure" for especially for King to use when sending in warranties. This letter was a direct violation of the contract with Snap-on. The warranty process does not include the ridiculous procedure that Snap-on regional manager Mike Doweidt outlined. We tried on numerous occasions to compromise with Mr. Doweidt on the special "King Regian" return/warranty policy he instituted just to hurt us and keep his bonus from being decreased.The Regians say they are in possession of over $110,000 worth of lifetime warrantied Snap-on tools that the company refuses to take back.Now, to be fair, the Regians obviously have an axe to grind and they're grinding it in a very public way. They also have a Facebook page where they sell t-shirts to fund their fight with the company.<h1>Wall Street's problem</h1><img src="https://static-ssl.businessinsider.com/image/58f64f37f40dae20008b535f-730/screen shot 2017-04-18 at 13806 pm.png" alt="Screen Shot 2017 04 18 at 1.38.06 PM" />Markets Insider But it's not just the franchisees who have something to say here. Snap-on happens to be one of those stocks that short sellers whisper about at conferences and trade information about over e-mails and phone calls. <a href="https://www.grantspub.com/">Grant's Interest Rate Observer</a> wrote about the company in June of last year comparing it to a multi-level marketing firm, and highlighting the company's dependence on its in-house credit facility."Vendor financing dominates the portfolio. As of April 2 [of 2016], net finance receivables, i.e., loans to customers, footed to $1.3 billion vs. $349 million for net contract receivables, i.e., loans to franchisees. And the finance operations are hardly insignificant to the bottom line. In the first quarter, Snap-on Credit chipped in 23.2% of total operating income," Grant's noted. Think of it this way, the number of mechanics in the US is growing at a meager 1.6% according to government data. Meanwhile Snap-on's sales have grown at a steady 6% the last few years, as Bret D. Jordan, an analyst at Jefferies pointed out in a note last year. "We are seeing a contraction in service bays nationally. Independent small shops are going out of business because they can't work in new technology," Jordan wrote. "Again, they are selling a product that is super premium and lasts forever. Once a guy buys a socket-wrench set from Snap-on-unless he is losing his sockets-he will probably never need to buy another one. How do you sustain that growth rate?"<img src="https://static-ssl.businessinsider.com/image/58f634ebc75d4a7a008b5181-1200" alt="snap on portfolio" />Snap-onYou do it, it seems, by lending to your subprime franchisees (who make up your contract receivables) so that they can lend to their subprime customer base (finance receivables)."Over the past five years, finance receivables have grown at a compound annual 16.7% growth rate, almost double the 8.6% annual growth in Snap-on Tools Group's sales. Contract receivables have grown by 15.9% per year over the same time period," noted Evan Lorenz, another Jefferies analyst.So in sum Trump, who is pushing a "buy America, hire American" message, is about to a do a photo op at a company that has ceased to make all its tools in the United States, has a shady relationship with its blue collar franchisees, and is being targeted by investors who think it's network will collapse under a pile of its own debt. I'll ask again: Who thought this was a good idea? <h3>NOW WATCH: <a href="http://www.businessinsider.com/pepsi-ad-starring-kendall-jenner-response-outrage-twitter-2017-4">People are outraged by a Pepsi ad starring Kendall Jenner - here's how the company responded</a></h3> Please enable Javascript to watch this video

The tool company Trump is visiting has a ton of furious franchisees

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5c0b16f838e173294c5740d7-2400/mueller russia probe 2x1.png" border="0" alt="mueller russia probe 2x1" data-mce-source="Mark Wilson/Getty Images; Win McNamee/Getty Images; Drew Angerer/Getty Images; Samantha Lee/Business Insider" />Mark Wilson/Getty Images; Win McNamee/Getty Images; Drew Angerer/Getty Images; Samantha Lee/Business Insider</div></div></div><ul class="summary-list"><li>The special counsel Robert Mueller released a memorandum on Friday detailing the cooperating and witness testimony provided by Michael Cohen, President Donald Trump's former personal lawyer.</li><li>The memo says Cohen testified with respect to four crucial areas of Mueller's investigation into Russia's interference in the 2016 election and whether the Trump campaign colluded with Moscow.</li><li>Cohen told Mueller about the talks to build a Trump Tower in Moscow; other contacts with Russia; his communications with the White House after Trump took office; and how and why he lied to Congress about the Trump Tower deal.</li></ul>The special counsel Robert Mueller released a memorandum on Friday detailing the cooperating and witness testimony provided by Michael Cohen, President Donald Trump's former personal lawyer and longtime fixer.Mueller's sentencing memo and a separate memo filed last week by Cohen's lawyers say Cohen has provided 70 hours of testimony to the special counsel, who is investigating Russian interference in the 2016 election and whether the Trump campaign collaborated with Moscow to tilt the race in Trump's favor.Read more: <a href="https://www.businessinsider.com/special-counsel-mueller-recommends-three-half-year-sentence-for-michael-cohen-2018-12" target="_blank" rel="noopener">Federal prosecutors recommend 'substantial' prison sentence for former Trump lawyer Michael Cohen, saying he demonstrated a 'years-long pattern of deception'</a>On November 30, Cohen struck a deal to plead guilty to one count of lying to Congress in exchange for cooperating with the special counsel. Cohen admitted to falsely stating in his September 2017 congressional testimony that the Trump Organization ended talks to build a Trump Tower in Moscow sometime in January 2016.In reality, prosecutors say, those discussions continued well into June 2016, and that Cohen "admitted he told these lies-which he made publicly and in submissions to Congress-in order to minimize links between the Moscow Project and Individual 1," referring to Trump.Cohen provided testimony to Mueller on the following subjects:<h2>The Trump Organization's attempt to build a Trump Tower in Moscow</h2>The memo says Cohen provided "a detailed account of his involvement and the involvement of others in the Moscow Project," an effort that continued until June 2016, after Trump became the presumptive Republican presidential nominee.The memo goes on to describe "in or around November 2015, Cohen received the contact information for, and spoke with, a Russian national who claimed to be a "trusted person" in the Russian Federation who could offer the campaign "political synergy" and "synergy on a government level."While this person is not named in the memo, BuzzFeed <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">News</keyword> reported in January that <a href="https://www.buzzfeed.com/anthonycormier/ivanka-trump-putin-moscow-meeting-michael-cohen-tower?utm_term=.eszJplG95V#.pxM3Qe05ka" target="_blank" rel="noopener">Cohen reached out to Russian weightlifter Dmitry Klokov</a> about the project. Klokov claimed to be connected to Russian President Vladimir Putin. They were reportedly introduced by Ivanka Trump, then a vice president at the Trump Organization.The memo says that Klokov told Cohen that a meeting between Trump and Putin would have a "phenomenal" impact "not only in political but in a business dimension as well," referring to the Moscow Project, because there is "no bigger warranty in any project than consent of [the President of Russia]."Cohen did not follow through with Klokov's offer, telling him there was an existing agreement to build a Trump Tower between Russia and the Trump Organization.Read more: <a href="https://www.businessinsider.com/trump-explanations-russia-contacts-campaign-mueller-2018-9" target="_blank" rel="noopener">Trump and his allies' explanations for the campaign's Russia contacts have seen a stark evolution as new evidence has spilled out</a>Mueller's sentencing memo said Cohen's false testimony to Congress "obscured" the fact that the Trump Tower Moscow deal represented a potentially lucrative business opportunity that may have required approval from the Russian government."If the project was completed, the Company could have received hundreds of millions of dollars from Russian sources in licensing fees and other revenues," the memo said. It also added that Cohen's continued work on the proposal, as well as his communications with Trump about it, were doubly relevant because they happened while the Russian government was actively interfering in the 2016 election to sway the race in Trump's favor.<h2>Other "discrete Russia-related matters"</h2>The memo says that "Cohen provided the [special counsel] with useful information concerning certain discrete Russia-related matters core to its investigation that he obtained by virtue of his regular contact with Company executives during the campaign."This line stands out, given that many executives of "the Company" are in Trump's immediate family and have been implicated in other parts of the probe.Donald Trump Jr., also a vice-president at the Trump Organization, attended a June 2016 Trump Tower meeting with top campaign officials and two Russian lobbyists who were offering dirt on the Hillary Clinton campaign. The parties involved have said nothing came of the meeting and that the Trump campaign did not get the kompromat it was promised, but the campaign's willingness to meet with Kremlin-aligned operatives has piqued investigators' interest.Trump Jr. also testified to Congress last year that his father did not have any advance knowledge of the meeting. If investigators learn that Trump did know about it, however, the revelation could land his eldest son in the same legal trouble Cohen found himself in for misleading Congress.Cohen, as well as at least two other Trump associates, have indicated that Trump may have known more about the meeting than he let on.Read more: <a href="https://www.businessinsider.com/michael-cohen-plea-deal-donald-trump-jr-risks-2018-11" target="_blank" rel="noopener">Michael Cohen's plea deal poses a significant danger to Donald Trump Jr.</a><h2>Contacts with persons "connected to the White House"</h2>Mueller's memo also said Cohen provided "relevant and useful information concerning his contacts with persons connected to the White House during the 2017-2018 time period."This line is also significant, because "relevant and useful" information to the special counsel investigation could indicate that Cohen and people in or near the White House continued to pursue criminal activity after the campaign, and well into the first two years of the Trump administration."That sounds to me like someone else in the Trump orbit will be indicted as a co-conspirator either for lying to Congress or for obstruction of justice," said Jens David Ohlin, a vice dean at Cornell Law School and criminal-law expert.<h2>"Preparing and circulating" his false congressional testimony</h2>Finally, the memo states that Cohen "described the circumstances of preparing and circulating his response to the congressional inquiries, while continuing to accept responsibility for the false statements contained within it."Ohlin said it was also telling that the memo said that Cohen divulged who he collaborated with in the administration "while continuing to accept responsibility for his false statements.""Sounds to me that they consider this a collective crime with multiple perpetrators," Ohlin said. "Additional indictments are likely, especially involving contacts between the Trump campaign and Russia, which is the last piece of the puzzle."Mueller's memo came shortly after the Southern District of New York filed a separate sentencing memo regarding Cohen's cooperation in its investigation into his and Trump's financial dealings before the election.Cohen pleaded guilty in August to tax evasion, bank fraud, and campaign finance violations. He said he violated election law by participating in payments to two women who claim to have had affairs with Trump shortly before the 2016 race. Cohen told investigators he did so at Trump's direction.Friday's memo from the Manhattan US attorney's office echoed Cohen's claim, saying he committed his crimes "in coordination with and at the direction of" Trump, who is identified in the document as Individual-1."The biggest takeaway from this is that prosecutors actually named President Trump as an unindicted co-conspirator," said Jeffrey Cramer, a longtime former federal prosecutor in Chicago who spent 12 years at the DOJ. "And it's not just based on Cohen's word. These documents make it clear that investigators also have other independent, corroborating evidence.""You really can't overstate this," he added. "The President of the United States was an unindicted co-conspirator in a felony? When's the last time that statement's been uttered?" <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/anthony-scaramucci-trump-press-economy-2018-11">Anthony Scaramucci claims Trump isn't a nationalist: 'He likes saying that because it irks these intellectual elitists'</a></h3> <div> <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/L1GsGzGe-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script> </div> </div>

Everything Michael Cohen told Mueller about the Trump campaign's contacts with Russia, according to the memo that could land Cohen a 'substantial' prison sentence

<img src="https://static-ssl.businessinsider.com/image/54aef321ecad048a22c27144-753-565/front-seat-baseball-game.jpg" border="0" alt="front seat baseball game">Modfos / Shutterstock.com</img>Hard work and smarts do get you ahead. But not everybody plays fair.&#xa0;
People frequently bend or break the rules to their advantage and don't get caught. <a href="http://www.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_life%20hacks_nsfw/">A recent Reddit thread</a> asked for unethical life hacks people use to save money or get ahead. We've picked some of the most fascinating and devious examples.
These hacks are uniformly unethical. Some veer into fraud. They should be regarded as informational and for entertainment purposes rather than as actual suggestions. You shouldn't do them. 
<h3>Get cheap movie tickets.</h3>
"Whenever I go to a big chain movie theater, I get my tickets from those electronic kiosks they have at the front, and I buy the child's price tickets. They're way cheaper.&#xa0;I'm always prepared to say, 'Oops, did I buy a kid's ticket by accident? Sorry!' if I ever get caught, but I've done this at least a dozen times and have never been called on it." -&#xa0;<a href="http://en.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_lifehacks_nsfw/cbzz08t">Reddit user the_girl</a> 
<h3>Pay less for wedding vendors.</h3>
"Never tell vendors for your wedding that you're hiring them for a wedding. It's an event or reunion. Big price difference." -&#xa0;<a href="http://en.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_lifehacks_nsfw/cbzz1hx">Reddit user Norwegian_Blue</a>
<img src="https://static-ssl.businessinsider.com/image/54aee5c36bb3f71023c27142-1200-600/formal-wear-wedding-1.jpg" border="0" alt="formal wear wedding"><a href="https://www.flickr.com/photos/79992579@N07/8470287412">Flickr/Katsu Nojiri</a></img>
<h3>Skip the line at the DMV.</h3>
"Make an appointment for the DMV for two weeks from today online (or whenever its available). Save the confirmation page as PDF or HTML or JPG. Modify the date to today's date and the time to right now with Photoshop or edit the HTML with a text editor or whatever you're most comfortable with.
"Walk into the DMV past all the sorry people waiting hours directly to the 'appointment line'. Get served in under 5 minutes.
"Done this multiple time, it works. Sometimes they say 'oh, you're not in the computer, weird. Doesn't matter - our system always screws up. Go ahead.'" -&#xa0;<a href="http://www.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_lifehacks_nsfw/">Reddit user Cysurflex</a>
<h3>Get a real customer service rep on the phone.</h3>
"When you are calling a utility/customer service number, and you need to speak to someone but receive an automated menu prompt, choose the Spanish option, then press "0".
"Multiple benefits here. More often than not, they do not hire reps that only speak Spanish - they will most likely be bilingual, and will handle overflow calls in English anyway. Second, Spanish speakers are less common in India, so the Spanish speaking call-centers are usually located in the US - so when you get the rep, you will not have to deal with language barriers often encountered with the Indian reps. In addition, the wait is usually not as long." -&#xa0;<a href="http://en.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_lifehacks_nsfw/cbzvae2">Reddit user SovietShooter</a>
<h3>Dine for free at a hotel.</h3>
"If you're hungry and it's between 6am-8am you can get free continental breakfast from pretty much any hotel you walk into. It helps if it's busy." -&#xa0;<a href="http://en.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_lifehacks_nsfw/cbzxghr">Reddit user sailorJery</a>
<img src="https://static-ssl.businessinsider.com/image/54aee742eab8eaa379e90a18-1000-500/breakfast-buffet.jpg" border="0" alt="breakfast buffet">Shutterstock.com</img>
<h3>Claim the arm rest on your next flight.</h3>
"If someone is battling you for the arm rest on an airplane cough into that arm then put it back. I fly a lot and have yet to see this fail." -&#xa0;<a href="http://en.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_lifehacks_nsfw/cbzzaz4">Reddit user xSCWx</a>.
<h3>Steal coins for laundry.</h3>
"A plastic coffee stir stick can fool any push in coin acceptor that loads the coins on edge. Just insert stir stick, push the mechanism forward until you feel the stick hit a bump, push the bump down with the stick and push the mech all the way in.&#xa0;
"I did my laundry for free all throughout school, and great for free pool at the bar." -&#xa0;<a href="http://en.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_lifehacks_nsfw/cbzzjme">Reddit user Fixalated</a>
<img src="https://static-ssl.businessinsider.com/image/54aee87b69bedd4c45c27144-1200-600/laundromat-laundry-machines.jpg" border="0" alt="laundromat laundry machines">Shutterstock.com</img>
<h3>Outsmart your opponents in rock-paper-scissors.</h3>
"I always pick rock in rock paper scissors against my sister or in front of my sister. I end up doing dishes more, ect. but the odd time I really need something I pick scissors.
"She's always going on about how I'm sooo dumb for always picking rock but I know what's up." -&#xa0;<a href="http://en.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_lifehacks_nsfw/cbzyj6a">Reddit user Snark_Industries</a>
<h3>Look like you know what you're doing.</h3>
"If you look like you know what you're doing, no one will bother you. To prove this in college, a friend and I walked into the student union holding a clipboard, walked straight over to a table, picked it up and walked out with it without anyone saying anything." -&#xa0;Via&#xa0;<a href="http://en.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_lifehacks_nsfw/cbzxt11">Reddit user sammysausage</a>
<h3>Save on textbooks.</h3>
"When I was in college, I used to take all of my textbooks to the 2¢ self-copy place and photocopy them. All of them. Then I'd return them before the deadline for a full refund.
"It takes time, but a 500-page book will only end up costing you $10. When the new version is often $100 or more.
"Nowadays, you can usually find a PDF online. But if not, hey, there's this." -&#xa0;Via&#xa0;<a href="http://en.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_lifehacks_nsfw/cbzx2m1">Reddit user heidismiles</a>
<img src="https://static-ssl.businessinsider.com/image/50db591ceab8ea5752000001-851-425/finance-textbooks.png" border="0" alt="finance textbooks"><a href="http://www.flickr.com/photos/8047705@N02/5530819321/">lifesupercharger / Flickr</a></img>
<h3>Lie like a pro.</h3>
"When lying, always include something slightly embarrassing, or something that makes you look bad, as part of your story. It's not only going to disarm their skepticism (admitting to something embarrassing gives an impression of humility), but even if they remain skeptical, they'll be left wondering why you would make something up that you'd rather keep secret if it were true." -&#xa0;Via&#xa0;<a href="http://en.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_lifehacks_nsfw/cbzqiva">Reddit user Tomf1sh</a>
<h3>Skip the parking garage fee.</h3>
"Car in longterm parking? Walk up to the ticket machine and grab a new ticket to present on your way out." -&#xa0;Via&#xa0;<a href="http://en.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_lifehacks_nsfw/cbzy390">Reddit user iloveyouocean</a>
<img src="https://static-ssl.businessinsider.com/image/54aef0e7eab8ea821ee90a1c-1192-596/parking-garage-1200-1.jpg" border="0" alt="parking garage 1200">Shutterstock</img>
<h3>Get better seats at a ball game.</h3>
"Buy the cheapest ticket you can find for a sporting event you want to attend. 1 hour before it starts, log into Stubhub to see which nice (but not heavily secured) seats are still available at a price point higher than the competition. Write a few of them down and chances are you can sit there all game without any issue. -&#xa0;Via&#xa0;<a href="http://en.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_lifehacks_nsfw/cbzwxub">Reddit user El_Apostrophe</a>
<img src="https://static-ssl.businessinsider.com/image/54aef14d69bedd0f64c27144-1200-600/yankees-baseball-game-1.jpg" border="0" alt="yankees baseball game"><a href="http://www.flickr.com/photos/benborkowski/1028684167/">Flickr/Ray Colon (Ray's Blog)</a></img>
<h3>Get free TV channels.</h3>
"Call up your TV provider, and tell them you want to stop using them. To keep your business they will offer extra channels. When the channels run out, repeat the process. I have had NFL Sunday Ticket on Directv for 3 years straight now for free." -&#xa0;Via&#xa0;<a href="http://en.reddit.com/r/AskReddit/comments/1lj0yc/what_are_some_of_your_unethical_lifehacks_nsfw/cbzu7yh">Reddit user NinthFlow</a>
<h3>Extend the warranty on electronics.</h3>
"Using Clorox or any bleach will turn the red/pink liquid detection dot on electronic devices back to white so they replace them under warranty." -&#xa0;Via&#xa0;<a href="Using%20Clorox%20or%20any%20bleach%20will%20turn%20the%20red/pink%20liquid%20detection%20dot%20on%20electronic%20devices%20back%20to%20white%20so%20they%20replace%20them%20under%20warranty.">Reddit user iamrot</a>
<img src="https://static-ssl.businessinsider.com/image/54aef22869beddf56ac27143-900-450/old-electronics-old-modem-swap-shop-wudaoying-hutong-beijing-china-october-2011-bi-dng.jpg" border="0" alt="old electronics, old modem, swap shop, wudaoying hutong, beijing, china, october 2011, bi, dng ">Daniel Goodman / Business Insider</img>

15 Unethical Things People Do To Get Ahead In Life

<img class="gwt-Image" src="/photo/53718540.cms" /> 
It was a hot Thursday afternoon, and the Delhi heat would melt your skin. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Paytm">Paytm</a> had arranged a session in a posh bar and lounge in Connaught Place, and my lunch was set. This was an opportunity for journalists to hob-nob with top company officials. 
 
As evening fell, <a href="http://www.businessinsider.in/searchresult.cms?query=Vijay+Shekhar+Sharma">Vijay</a> arrived, shirt not tucked in, looking positively tired, and hungry. “Get me something to eat! I’m hungry as hell!” In comes some fried rice and chicken. 
 
Over the next hour he tackled the most hostile questions from journalists, punctuating his answers with jokes and jibes like ‘mere flights aur hotels ayenge!’ (Flights and hotels will soon be available) and ‘I won’t cheat customers. I’m <a href="http://www.businessinsider.in/searchresult.cms?query=Vijay+Shekhar+Sharma">Vijay Shekhar</a>, not <a href="http://www.businessinsider.in/searchresult.cms?query=Vijay+Mallya">Vijay Mallya</a>.’ 
 
By the end of the session, I was sure of two things – there’s nobody as sharp as a semi-drunk journalist, and that I had a story. It pays to be the only sober guy around when everybody else is ‘delightfully high’. 
<img class="gwt-Image" src="/photo/51492529.cms" /> 
Who’s paying the damn <keyword id="470101" type="UNKNOWN" weightage="80" keywordseo="Cashback">cashback</keyword>? 
Retailers offer discounts because they buy in bulk. We’re not into that business. It’s an asset-light business model. If a merchant offers a discount that doesn’t add any value, that’s when we bear the cost. 
 
Other players (<a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart">Flipkart</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal">Snapdeal</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Amazon">Amazon</a>) are retailers that have to pay out of their own balance sheets. 
 
Tax Obligations for Cashback 
Once you have more than Rs. 50k in a Wallet, IT laws apply. 
 
Why will you win, and others lose? 
While most platforms were burning cash to grow GMV, like Shahrukh said in DDLJ, we took the longer route. We brought sellers, and asked them to pay for the marketing rather than us paying for it. 
 
We didn’t spend more than a couple of hundred million dollars building the marketplace. The money we’re making is the best ROI in the <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce">e-commerce</a> industry. 
 
Also, we want sellers to win, while other platforms find out what’s selling most, and start selling that. In the long term, every platform but <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm">Paytm</a> will make sellers lose. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=+Google">Google</a> what <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce">e-commerce</a> companies across the world do with highest selling inventory and you’ll find out for yourself. 
 
Have you broken even? 
As a YoY basis, till last year we were profitable. This year we’re not because we’ve spent heavily. Last to last year we generated hundreds of crores in profits. 
 
Over the month, we’ve had 200,000 orders a day on the marketplace, with no net cost to <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm">Paytm</a>. That means the entire cost is to the retailer, and <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm">Paytm</a> is making money off every purchase. 
 
How on earth can you give cashback on everything, and yet be profitable? 
We have a marketing fee for retailers. That’s anything from 4-15%. 
 
It’s our choice if we burn it, or give it back to the customer as cashback. There is always a space for us to step in if merchant’s not discounting, but that’s rare. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Clothing">Clothing</a> sells at 45-50% margin. The merchant, even after 15% cashback, can have a margin as high as 35%, and if they sell in bulk, they get an additional 5-10% as cashback. 
 
As per unit economics, there is always money available as cashback. Also, we don’t offer free shipping. 
 
Will you ever buy your own warehouses if you’re not buying your own inventory? 
We have third party logistics partners like <a href="http://www.businessinsider.in/searchresult.cms?query=Blue+Dart">Blue Dart</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=FedEx">FedEx</a>, and others. Today we have 13 warehouses across the country for <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm">Paytm</a> merchants. They can stock their inventory in any of these warehouses, and it’ll live sync with our platform. 
 
We’ll never buy warehouses, we’ll always have partners. 
 
Some of the products don’t have warranty information! 
We’ve started working on brand authorization. 
 
A seller can only sell, say electronics if there is green signal from the brand. There is an authorized brand seller badge. You can’t list a product if you’re not selling authentic products. 
 
Fraud Buyers 
You’ve heard many of horror cases already. We’ve handed many to the police. 
 
We do a sanity check now. Also, to let you in on a secret, we’ve introduced a buyer rating. That will determine whether you’ll be able to shop on our platform or not. I learnt this from <a href="http://www.businessinsider.in/searchresult.cms?query=Travis">Travis</a> (CEO, Uber). 
 
If you topup Rs. 10k in your Wallet, and get Rs. 2.5k in cashback, you’ve to give KYC to get that cashback immediately. Otherwise there’s a month-long waiting period. 
 
We’ve solved that too. 
The Government of India has introduced the Wallet as a means for financial inclusion. People with up to Rs. 10k in their wallet can just verify e-mail, phone number and offer minimal KYC. Beyond Rs. 10k in the wallet means you’ll have to do full KYC. That’s a tedious procedure. 
 
In that case we’ll send that cashback directly to your bank acc via NEFT. 
 
That affects our margins, but customer satisfaction is also something. 
 
Why is cashback paid after shipment and not before shipment? 
They are people who try to cheat the system. 
 
They place the order, cancel it before shipment, and spend the cashback before you can take any action. 
 
Why no <a href="http://www.businessinsider.in/searchresult.cms?query=Airtel">Airtel</a> offers on <keyword id="6357120" type="UNKNOWN" weightage="80" keywordseo="PayTM">Paytm</keyword>? 
Airtel has decided its offers won’t be available anywhere other than their official website. 
 
Basically, they think others will hijack their business. 
 
Why is Paytm not in Hindi, or other Indic languages? 
The Indian shopper isn’t sure what he should search for. 
 
‘iPhone’ might become ‘AiPhone’ in Hindi, and that messes with <a href="http://www.businessinsider.in/searchresult.cms?query=Google">Google</a>’s global search algorithm. 
 
Any chance of <a href="http://www.businessinsider.in/searchresult.cms?query=Patanjali">Patanjali</a> on Paytm? 
On a serious note, yes. 
 
Image Credit: Indiatimes

Not so
Exclusive: Vijay Shekhar Sharma answers your Paytm FAQs

<h2>Here are the best starter credit cards in 2020:</h2><ul class="summary-list"><li>Best student credit card: Discover it® Student Cash Back</li><li>Best secured credit card: Discover it® Secured</li><li>Best for cash back: <a href="https://thepointsguy.com/card-details/capital-one-quicksilverone-cash-rewards-credit-card/?utm_campaign=bi_01242020_hj_best-starter-cards&amp;utm_source=referral" rel="nofollow nofollow">Capital One® QuicksilverOne® Cash Rewards Credit Card</a></li><li>Best for travel rewards: <a href="https://thepointsguy.com/card-details/capital-one-ventureone-rewards-credit-card/?utm_campaign=bi_01242020_hj_best-starter-cards&amp;utm_source=referral" rel="nofollow nofollow">Capital One® VentureOne® Rewards Credit Card</a></li><li>Best basic starter card: <a href="https://thepointsguy.com/card-details/capital-one-platinum-credit-card/?utm_campaign=bi_01242020_hj_best-starter-cards&amp;utm_source=referral" rel="nofollow">Capital One® Platinum Credit Card</a></li><li>Best for intro APR: Discover it® Student chrome</li><li>Best for building credit: <a href="https://www.businessinsider.com/petal-card-build-credit-how-to-apply">Petal Visa Card</a></li></ul>If your credit isn't great or you barely have any credit history, it's likely you'll need to ease into the world of credit cards. Fortunately, banks and major issuers create new products for credit newcomers, many of which let you get approved with fair credit, bad credit, or no credit at all.Which starter credit card should you choose? That really depends on your credit score and where you're at in your credit journey. If you've never had a credit card before, it's likely you'll have to get started with a <a href="https://www.businessinsider.com/what-is-a-secured-credit-card-and-how-does-it-work">secured credit card</a> that requires a cash deposit in order to shore up a small line of credit. If your <a href="https://www.businessinsider.com/what-is-a-fico-score-how-is-it-calculated">FICO credit score</a> is at least "fair," or above 580, on the other hand, you may qualify for a card geared to consumers with average credit.Our advice: Take a free peak at your <a href="https://www.businessinsider.com/how-to-improve-credit-score">credit score</a> using a service like CreditSesame.com or CreditKarma.com. From there, you can figure out which credit card can help you build credit that lasts.If you already have a decent credit score and are looking for a new credit card to maximize your spending, check out the following guides:<ul><li><a href="https://www.businessinsider.com/best-rewards-credit-cards">The best rewards credit cards</a></li><li><a href="https://www.businessinsider.com/best-cash-back-credit-cards">The best cash-back credit cards</a></li><li><a href="https://www.businessinsider.com/best-travel-rewards-credit-cards">The best travel rewards credit cards</a></li><li><a href="https://www.businessinsider.com/best-no-fee-credit-card">The best no-annual-fee credit cards</a></li></ul>Keep in mind that we're focusing on the rewards and perks that make these credit cards great options, not things like interest rates and late fees, which will far outweigh the value of any points or miles. It's important to practice financial discipline when using credit cards by paying your balances in full each month, making payments on time, and only spending what you can afford to pay back.Here are the best cards for first-timers and others looking to build their credit:<h2>Best student credit card: Discover it® Student Cash Back</h2>Annual fee: $0If you're a student who is hoping to start your adult lifestyle on the right foot, you should consider the Discover it® Student Cash Back. This card is typically available to consumers who don't have an extensive credit history, plus there's no annual fee.Once you're approved, you can enroll to earn 5% back up to a quarterly maximum limit spent on purchases in categories that rotate each quarter, plus 1% back on everything else. Like other cash-back credit cards from Discover, this card will also double all the rewards you earn the first year, and you can get a $20 statement credit each school year your GPA is 3.0 or higher.This card also lets you see your credit score for free each month, and you'll get Social Security number monitoring, zero fraud liability, and no late fee on your first late payment. Consider signing up if you want to earn rewards and build credit at the same time without an annual fee.<h2>Best secured credit card: Discover it® Secured</h2>Annual fee: $0If you have poor credit or no credit history at all, you may need to get started with a secured credit card. Unlike unsecured credit cards that extend a line of credit without collateral, secured cards require a small cash deposit upfront in order to secure an equally small line of credit.The Discover it® Secured is frequently considered the top secured credit card since, unlike other cards in this niche, it doesn't charge an annual fee or any hidden fees. You'll also earn 2% back on up to $1,000 spent each quarter on gas and dining (then 1%), as well as 1% back on all other purchases. Discover will also double all the rewards you earn the first year.Other top benefits include a free look at your FICO score each month, zero liability for fraudulent purchases, and no late fee on your first late payment.<h2>Best for cash back: <a href="https://thepointsguy.com/card-details/capital-one-quicksilverone-cash-rewards-credit-card/?utm_campaign=bi_01242020_hj_best-starter-cards&amp;utm_source=referral" rel="nofollow">Capital One QuicksilverOne card</a></h2>Annual fee: $39The <a href="https://thepointsguy.com/card-details/capital-one-quicksilverone-cash-rewards-credit-card/?utm_campaign=bi_01242020_hj_best-starter-cards&amp;utm_source=referral" rel="nofollow">Capital One QuicksilverOne</a> is available to consumers with "average" credit according to Capital One, which brings it into reach for individuals with limited credit or anyone who has made credit mistakes in the past. This card does charge a $39 annual fee, but you'll be able to earn a flat 1.5% back for each dollar you spend. That's not bad for a rewards credit card, and it's especially good for cards available to consumers with average credit.Capital One also promises to reconsider your credit limit and potentially boost it after you've made five on-time payments on your credit card. This card also comes with <a href="https://www.businessinsider.com/best-credit-cards-no-foreign-transaction-fees">no foreign transaction fees</a>, extended warranties on eligible purchases, auto rental coverage, travel accident insurance, and 24-hour travel assistance, which is a lot more than many credit cards for average credit offer.<h3><a href="https://thepointsguy.com/card-details/capital-one-quicksilverone-cash-rewards-credit-card/?utm_campaign=bi_01242020_hj_best-starter-cards&amp;utm_source=referral" rel="nofollow">Click here to learn more about the Capital One QuickSilver One card »</a></h3><h2>Best for travel rewards: <a href="https://thepointsguy.com/card-details/capital-one-ventureone-rewards-credit-card/?utm_campaign=bi_01242020_hj_best-starter-cards&amp;utm_source=referral" rel="nofollow">Capital One VentureOne card</a></h2>Annual fee: $0The <a href="https://thepointsguy.com/card-details/capital-one-ventureone-rewards-credit-card/?utm_campaign=bi_01242020_hj_best-starter-cards&amp;utm_source=referral" rel="nofollow">Capital One VentureOne</a> is typically only available to consumers with "good" credit or better, but it's important to note that a good FICO score typically starts in the 670+ range. If you are able to qualify, this card can serve as a starter travel credit card that can help you get accustomed to earning this type of rewards.Once you sign up, you'll earn a flat 1.25 miles for each dollar you spend. You can also earn 20,000 bonus miles once you spend $1,000 on your card within three months of account opening.On the redemption side of the equation, you can cash in your points for any type of travel at a rate of 1 cent per point, or for transfers to a handful of select airlines. This card also comes with no annual fee and no foreign transaction fees.<h3><a href="https://thepointsguy.com/card-details/capital-one-ventureone-rewards-credit-card/?utm_campaign=bi_01242020_hj_best-starter-cards&amp;utm_source=referral" rel="nofollow">Click here to learn more about the Capital One VentureOne card »</a></h3><h2>Best basic starter card: <a href="https://thepointsguy.com/card-details/capital-one-platinum-credit-card/?utm_campaign=bi_01242020_hj_best-starter-cards&amp;utm_source=referral" rel="nofollow">Capital One Platinum card</a></h2>Annual fee: $0If you have average credit and want to learn good credit habits without worrying about rewards, consider the Capital One Platinum Card. This card will likely start you out with a low credit limit, but Capital One says it will consider boosting your limit after you make five on-time payments on your card. This card also comes with no annual fee.Another benefit of this card is the fact you can get prequalified online without a hard inquiry on your credit report. Other cardholder perks include travel accident insurance, auto rental collision damage waiver, 24-hour travel assistance, and no foreign transaction fees.<h3><a href="https://thepointsguy.com/card-details/capital-one-platinum-credit-card/?utm_campaign=bi_01242020_hj_best-starter-cards&amp;utm_source=referral" rel="nofollow">Click here to learn more about the Capital One Platinum card »</a></h3><h2>Best for intro APR: Discover it Student chrome</h2>Annual fee: $0If you want to save money with 0% APR for a limited time, look into the Discover it® Student Chrome. This card starts you off with 0% APR on purchases for six months, followed by a variable APR of 19.49%. You'll also secure a variable APR of 10.99% on balance transfers for six months if you transfer by April 10, 2020, followed by a variable APR of 19.49%.You won't pay an annual fee, and you'll earn 2% back on up to $1,000 spent on gas and dining each quarter (then 1%), plus 1% back on everything else you buy. Discover will also double all the rewards you earn after the first year, and you can secure a $20 statement credit each school year your GPA is 3.0 or higher.Read more: <a href="https://www.businessinsider.com/best-credit-card-intro-apr-offers">The best credit card intro APR offers</a><h2>Best for building credit: <a href="https://www.businessinsider.com/petal-card-build-credit-how-to-apply">Petal Visa Card</a></h2>Finally, the Petal Visa Card is a newcomer on the scene, yet it could be ideal for anyone who wants to build good credit that lasts. This card comes with a minimum credit limit of $500, although there's no annual fee and no fees on late payments. You'll earn a flat 1% back on all your purchases for the first year, but you have the opportunity to graduate to 1.5% back after you've made 12 on-time payments on your credit card.This card also reports to all three credit bureaus like the other cards on our list, so it can help you build credit as your purchases and payments are reported. You'll also get access to the powerful Petal Visa Card app, which can help you manage your money better, track your spending, and stay on top of all your bills.Read more: <a href="https://www.businessinsider.com/petal-card-build-credit-how-to-apply">Petal Visa card review</a><h2>Frequently Asked Questions </h2>When you're ready to start building credit for the first time, it's smart to have a basic understanding of how credit cards can help. The following questions and answers provide some basic guidelines to follow.<h3>What are the easiest cards to get approved for?</h3>When you're first starting out, <a href="https://www.businessinsider.com/what-is-a-secured-credit-card-and-how-does-it-work">secured credit cards</a> are the easiest to get approved for. This type of credit card requires an initial cash deposit to secure a line of credit that is typically for the same amount. For example, you may put down a cash deposit of $500 in order to secure a $500 line of credit.With the requirement for collateral in place, almost anyone can get approved for a secured credit card regardless of their credit score. Also note that, once you use your secured credit card to establish a reasonable amount of credit history, you can cancel or upgrade your card provided your account is in good standing. At that point, your initial security deposit would be refunded to you.<h3>How do I build credit with a credit card?</h3><a href="https://www.businessinsider.com/how-to-build-credit-with-a-credit-card-steps">Building credit with a credit card</a> isn't overly difficult, but you may have a better initial experience if you start the process off slowly. Use your credit card for regular purchases you can afford to pay off each month. When your bill comes due, make sure to pay at least the minimum payment and hopefully your entire credit card balance.As you make payments each month, those payments will be reported to the three credit bureaus. Over time, you'll build a history of responsible credit use that can help boost your credit score.<h3>How many credit cards should I have?</h3>You can have one credit card or several. It's totally up to you.When you're first building credit, however, it makes sense to limit yourself to a single card. This way, you can spend time building responsible credit habits before you add more cards and complicate your finances.<h3>How quickly can I raise my credit score?</h3>How quickly you'll raise your credit score depends on a whole host of factors including whether you have any credit history at all, whether you have negative marks on your credit report, and the way you handle credit in the short-term. Your best bet is signing up for a credit card that can aid you in building credit, then using it for regular purchases that you pay in full each month. This will help you build a history of on-time payments while keeping your credit utilization low.<h3>What card should I get when I have excellent credit?</h3>If you have excellent credit, or any FICO score above 740, it's likely you can qualify for the best rewards and travel credit cards. Make sure to compare the top credit card offers of 2020 in terms of their rewards and cardholder perks.<ul class="read-more-links"><li>More <a href="https://www.businessinsider.com/category/credit-cards">credit card</a> coverage</li><li><a href="https://www.businessinsider.com/best-airline-credit-card-comparison-delta-united-american">What's the best airline credit card?</a></li><li><a href="https://www.businessinsider.com/best-cash-back-credit-cards">The best cash-back credit cards</a></li><li><a href="https://www.businessinsider.com/southwest-credit-card-comparison-which-to-get">Southwest credit card review</a></li><li><a href="https://www.businessinsider.com/best-rewards-credit-cards">Best rewards credit cards</a></li></ul>Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.Business Insider may receive a commission from The Points Guy Affiliate Network, but our reporting and recommendations are always independent and objective.Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available. <h3>NOW WATCH: <a href="https://www.businessinsider.com/hydrogen-fuel-cell-cars-teslas-biggest-threat-2019-12">Why hydrogen cars will be Tesla's biggest threat</a></h3> <iframe class="bijwplayerclass" src="https://content.jwplatform.com/players/WDmK4m5e-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;"></iframe>

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