MilesEdge Platinum Visa Card

Card issued by FIA Card Services, NA.
Up to $1,000,000 in travel accident insurance.
Auto rental insurance.
Extended warranty protection.
Various travel and emergency assistance services.
Medical referral services.
Legal referral services.
Lost luggage recovery.
Emergency airline ticket replacement.
No liability for unauthorized Internet transactions.
Optional personal photo on card.
Discounts on auto rentals.
Optional Mini Card.
See website for additional benefits.
*See website for complete terms and conditions of card usage and application disclosure. *Terms and Conditions

APR (Purchases): Intro Rate - 0% for six billing cycles. Goto rate is variable risk based rate between Prime + 4.99% and Prime + 12.99%
APR (Balance Transfers): Intro Rate - 0% for six billing cycles. Goto rate is variable risk based rate between Prime + 4.99% and Prime + 12.99%
APR (Cash Advances): 21.99% Variable* minimum 19.99%. (P+15.99)
Finance Configuration: Average Daily Balance (including new purchases)*
Annual Fee: $19
Additional Cardholders: $0
Grace Period: 20 Days (Min.)
Minimum Credit Limit: $500
Maximum Credit Limit: N/A
Late Payment Fee: $19 on balances up to $100; $29 on balances of $100 up to $1,000; and $39 on balances over $1,000
Over-The-Limit Fee: $35
Cash Advance Fee: 3%, $10 minimum
Balance Transfer Fee: None

Reward Program Details:
Points per Dollar in net purchases: 1 Point
Bonus Miles: 1,000 upon first use
Miles Expiration: Up to 5 years (points expire on the last day of your Billing Cycle that closes in December of the fourth calendar year in which they were earned).
Yearly Limit on miles you can earn: 75,000 points

*See website for complete terms and conditions of card usage and application disclosure. *Terms and Conditions
2

DID YOU KNOW?

	The first point to make about Royalties is that good Franchise systems should look at them not as a payment but rather as a remittance. It is the Franchisor’s share of the income derived from customers or clients. The Franchisee collects that fee along with all other revenues from the customer. It’s an important concept because it emphasizes that the customer ultimately pays for everything, including the Franchisor’s royalty, the Franchisee’s overhead, all costs of sales, employee’s salaries, and the Franchisee’s profit. Therefore it’s all about the customer – as it should be. The Franchisee should want the Franchisor to earn a significant amount of royalties because that’s really the oil that makes the engine run. Each Franchisee collects and remits a small portion of that oil to the Franchisor. All elements of the system can continue to improve as long as the royalty stream is strong. The Franchisor’s royalty will be based on the fact that they have provided a system and strategy that has ultimately served the customer. The Franchisee delivers that system to that customer. The royalty represents the Franchisor’s share based on the various parts of the Franchise system, which has four elements. The four elements of a Franchise are: a) Brand b) Operating System c) Support System d) Franchisee Brand – the name associated with the services delivered in a memorable and satisfying experience to the customer Operating System – institutionalizes the excellent service delivered in a memorable experience so it can be done over and over again from Franchise to Franchise in a consistent manner Support System – helps the Franchisee get better and better at delivering the service in a memorable experience – helps a Franchisee improve their performance Franchisee – the individual motivations or reasons for being in a good system, as well as the talents and experience delivered to the business. The Operating and Support systems will generally provide access to advice at the level of professional consultants in the fields of marketing, management, advertising, execution of the delivery of the product or service, customer support, etc. The cost of these types of consultants on the open market will often far exceed the value of the royalty fees that are remitted by the Franchisee that participates in a system that delivers these items from a position of experience. In fact, it’s the exact experience the Franchisee requires as opposed to open market advice. Now here’s the test. If each of the four elements of a Franchise system is evaluated in terms of the percentage of contribution to the overall success of the business, then the royalty can be assessed in a proper light. Many people will say that each of the four elements contributes equally – or 25%, to the overall success. That means that the Brand, Operating System, and Support System provide 75% of the success formula. Therefore, as long as the royalty is less than 75%, it’s a good decision to participate in the system. That’s a little silly, but it emphasizes the point. Most royalties range from 2% to 10% depending on the type of system, so as long as the Franchisor’s systems contribute 10% or more to the success of the business, it makes sense to participate, and remit the collection of royalties to the system. To receive a free copy of an E-Book titled ‘Franchise Opportunity – Making The Right Decision’ by Dennis Schooley, email that request to corp@schooleymitchell.com.

Refinancing a fixed rate mortgage is usually only suggested when interest rates start to drop. However if your looking to save money in other ways you can also save by changing your loan terms. Another simple solution would be pulling out part of your equity to pay off those high interest credit card bills.

Lower Interest Rates

A good thing to remember is when interest rates are at least 1% lower than your current mortgage rate, it pays to refinance to pay your higher interest bills. However, you need to consider other factors, loan cost, loan terms, length of your mortgage, and how long you plan to stay in your house.

What about an adjustable rate mortgage? Most people only consider this if they are planning on moving on short notice. How this works is mostly variable rate. If rates are low you will see a lower monthly rate. But you do risk a chance that the interest rates could go up and you end up paying more than before. This usually happens over a period of time. So you many not be effected right off.

Refinancing is a big deal! You can decide if it is for you by calculating the difference in your interest payments over the course of your loan. There are all kinds of online mortgage calculators which can help you find both total interest costs and monthly payments. Most are free too.

Look for better Loan Terms

Finding lower interest loans can be key. With lower interest rates, you can save money by converting to a better loan term. A shorter loan, such as a 20 year term, can save you thousands on interest payments. It might be a higher payment, but you will save bundles on your total loan debt.

You can also reduce your monthly payments by refinancing for a longer term. But you will suffer a higher overall interest and spend for in the long run.

Find and Your Equity and Use it!

Whether you want to pay off high interest credit cards or pay off other bills that have been weighing over you. It’s up to you. One of the advantages of using your equity is that your interest is tax deductible. Yes! This could be big savings as well.

However, if you just want to use your home equity, a better option is a home equity loan. The nice advantage to this is that you can still write off you interest and avoid additional fees.

What about those Online Lenders?

Today online financing is easier to research. You research terms and fees from your home with no pressure. You can receive quotes fast so you can compare financing packages. Another advantage is that you can also apply online and qualify for discounts with some online lenders. With all this in mind, try to remember the old rule. “If it seems to good it probably is.”