4 Common Credit Card Misconceptions
News from San Francisco Chronicle:

What is the downside of applying for a credit card with a great sign up bonus? Not much. In fact, opening a single new account will actually improve your credit score in most cases. This is one of several popular misunderstandings about how credit cards work.

I Pay My Balance in Full, So I Don’t Have Any Debt
The smartest way to use a credit card has always been to pay your balance in full every month in order to avoid paying interest. From a practical standpoint, the cardholder isn’t incurring any debt, but that is not how the credit agencies will report it. Each bank will report your current balance as debt, even before you have received your statement. In the event that your balance is reported the day after you have paid your statement in full, the bank will still report as debt all of the charges made since your last statement period ended. So long as this amount reported isn’t an unusually large percentage of your available credit, your credit score should not be affected. Otherwise, cardholders who are applying for a new mortgage may wish to pay their balances down before their due date.

Applying for a New Credit Card Will Hurt Your Credit Score
When you apply for and receive a new credit card, two things happen that aff…………… continues on San Francisco Chronicle

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How to Use Your Credit Card to Save on Tax Prep
News from MainStreet:

NEW YORK (MainStreet) — Valentine’s Day gifts aren’t the only things your credit card can help you save money on – you can also get a discount on your favorite tax software or tax preparation service. Here’s a roundup of some of the better tax deals your credit card can buy you.

Discover (Stock Quote: DFM) cardholders can get 20% cash back on purchases made at H&R Block through ShopDiscover, and they can also get 15% cash back on TurboTax software through the online mall as well.

Citi (Stock Quote: C) is giving cardholders 10% cash back through its Bonus Cash Center on H&R Block At Home, and is offering a coupon code to get 15% off on online tax preparation with the preparer. Citi also offers 8% cash back on TurboTax software.

Meanwhile, Chase (Stock Quote:

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