The following is a guest post by CreditShout, a personal finance blog dedicated to teaching people how to beat the card companies at their own game and save money with credit cards.

Cash back debit cards are becoming increasingly popular. With everything being accessible from the internet, the once “good credit only” exclusivity of cash back credit cards has opened up avenues of both access and appeal to cash back debit cards. With places like Paypal offering 1% cash back on every debit card purchase, it may seem as if the sky is the limit with the cash back debit card. However, upon closer examination of the reward programs offered by debit cards you will find that this isn’t always the case.

Debit Cards Versus Credit Cards

Several years ago, there was a battle of the credit cards regarding which company offered the most frequent flyer miles and which company offered the most cash back incentives for their users. It was not long before banks and debit card companies took note of this and considered jumping on the incentive bandwagon.

It has been a slow evolution for the debit card and its various incentives, yet the progression remains stable. Another cash back debit card provider is Perk Street Financial. Perk Street Financial also offers 1% cash back on all non-pin purchases. While 1% cash back on a debit card can add up in the long run, in the interim it does not seem to be worth it as compared to cash back credit cards.

Are Cash Back Debit Cards Worthwhile?

A cash back debit card may only be worthwhile as long as there are no annual fees associated with it. If by chance, there are annual fees, then you will probably end up spending more than you earn. Additionally, debit cards that are offered through a specialty retailer may have certain restrictions on how you can qualify for cash back. There may be a limit on which gas stations, air carries, supermarkets or department stores.

Credit card companies like Citibank and Discover offer their users a plethora of incentives, from frequent flyer miles (check out the Capital One Venture Rewards Card), to discounts at popular stores, freebies at coffee shops and of course, there is the idea of getting cash back. Most of the major credit card companies also have a higher cash back percentage.

Where debit cards may yield on average a 1 % cash back reward on purchases, cash back credit cards sometimes offer up to 5% cash back rewards incentives. In addition to the cash back incentives, credit card companies consistently have ongoing and varied rewards campaigns that are tailored to the average shopping habits of their customers.

Furthermore the credit card companies offer a more varied and completely customizable shopping experience. Partnered with major brands (whether those brands are retailers, computers or celebrities) the major credit card companies have a rewards system that is guaranteed to encourage their consumers to shop as much as possible.

Debit cards, on the other hand seem to only offer variance in the company that sponsors the debit card. For example, many prepaid debit cards may be sponsored by a recognizable company which might kick in a 1% cash back incentive should the consumer shop at that particular retailer.

Wal-Mart offers a prepaid debit card but it may not yield a 1% cash back reward. The brand Baby Phat which falls under the arm of a company owned by mogul Russell Simmons has a prepaid debit card called the Rush Card. While the Rush Card may not have offered cash back, it did offer discounts of up to 10% at participating stores that may be partnered with the Rush Card.

At the end of the day, the incentives offered by a credit card regarding cash back and discounts at stores are more worthwhile than those offered by the debit card companies. For more information on debit cards versus credit cards, you can contact your local bank or you can check online to see if your debit card offers rewards.

Or are consumers just getting more irresponsible?

Hold on a second. I'm no advocate of debt collectors using rude language, calling late at night, using scare tactics, or anything like that, as described in this story. Being a bully isn't the right approach to get people to pay up.

But it may be necessary.

Because if you're a consumer, it's easy to think that all you need to do is call the number on your TV screen and you can pay off you debt for less than 50% of what you owe! So why in the world would you give anything to some rude dude on the phone?

OK, seriously.

I promote several debt settlement and other debt reduction programs here. And all have outstanding BBB reports, and are well-known in the industry. For the right situation, debt settlement makes sense. And you can save 50%. But it's not easy, and it's not for everyone.

But the average consumer doesn't know that. Or at least they don't want to know.

So the debt collectors have to get tough, right? They have a job to do. And if enough people walk away from their debts, then we all pay. The banks raise fees. They get into shady deals like giving mortgages to people who have no business qualifying for one. They scam those who do qualify. Not always, of course. But if we as consumers don't pay our bills, then the business model doesn't work.

Again, I'm not saying that bill collectors should be allowed to harass people. Well, maybe some people like my deadbeat friend Joe (sorry, just kidding).

But I would imagine that most people who get abused by debt collectors aren't living up to their end of the bargain - like they don't pick up the phone, or make no real effort to start paying back what they owe.

So, if the debt collectors are starting to call your phone number, follow these tips:

1. Don't ignore the calls! Hey, you owe the money. The least you can do is pick up the phone and explain your situation. Then do you best to come to some agreement to pay your bills. If you ignore the calls, expect the collectors to start calling at odd hours, or call you at work, call your neighbors and relatives, or worse!
2. Be polite. Don't yell. And if the bill collector calling you gets nasty, tell them to speak appropriately or that you'll hang up. And follow through if necessary. But if you want a fight, and you want more serious action to be taken against you, try arguing and you'll get what you asked for.
3. Don't lie. If you can't pay next week, don't say you will. If you can't afford $100, ask to pay $50. If you can't afford $50, ask to pay $25. Then pay.
4. Have a plan. And do it BEFORE you start getting phone calls. Look for ways to save money. Cancel your cable TV. Get a lesser cell phone plan. Stop eating out every Friday night. Sell stuff you don't need. At least until things get better. It's you responsibility to pay what you owe. Then, you'll be in better position to work out a deal when the dreaded collections calls start coming.
5. Get everything in writing. If you do come to an agreement, ask for it in writing. Have it emailed or faxed to you if necessary, to get it fast. Even though you sometimes hear "this message may be recorded..." don't expect that to help you when the written agreement doesn't match what you agreed upon with the agent on the phone.
6. Keep records. Of every call, and write down the name of the person you spoke to, the time of the call, the content of the conversation. The more information you have, the easier it will be next time.
7. Know your rights. Read these Debt Collection FAQs: A Guide for Consumers. This way you'll know if they're crossing the line, or just doing their job.

Just realize that debt stinks. There is no easy way out, "secret method", or quick fix. But no matter what, ignoring the calls from the bill collectors WON'T make life easier for you.

Do you agree? Or have any other tips for dealing with nasty collection calls?

Wow, that's a tough question. One I struggled with a few years ago. And one I see discussed occasionally on various blogs, and asked on various message boards, especially Yahoo Answers.

For those who don't know, debt settlement is a process where you negotiate with your creditors to pay off your credit card debts for less than you owe.

But should we even think of money in moral terms? If so, is borrowing money moral? Lending it at high interest rates? Giving credit to people who probably shouldn't have it?

There are lots of ways to think about this. So let me lay out both sides of the debate:

Debt settlement is morally WRONG:

• You borrowed the money, you should pay it back. All of it. As you agreed to.
  (OK, this is a good argument).

• Many debt settlement companies are scams, or will rip you off.
  (This is true. But there are plenty of good, honest companies out there. And even if it is true, that doesn't mean the process is morally wrong, just that some of the debt settlement programs that offer services are dishonest. So this is not really a good argument.)

  Many people are looking for an easy way out.
  (True. In all areas of life, not just with credit card debt. But not everyone who considers debt settlement is looking for an easy way out. People lose jobs, get hurt without health insurance, get overwhelmed and simply need help. Debt settlement is one of those options. Again, just because this is true of some people doesn't make the settlement process immoral).

Debt settlement is morally RIGHT:

Thanks to The Digerati Life for this post. If you're considering refinancing, you'll find this information helpful:

Many homeowners who are struggling to keep up with their monthly mortgage payments think of refinancing when interest rates go down. When you question some lenders about refinancing options, you can expect to start receiving e-mails and telephone calls almost everyday.

There are a number of reasons why people resort to refinancing and one of them is to make the most out of reduced interest rates. The borrowers have the opportunity to reduce their monthly mortgage payments if the interest rates go down. If they want to reduce the refinance loan term, they might have to pay higher monthly payments, but they can still save on interest costs. By shortening the loan term, they can pay it off faster.

Before you refinance, you'll need to observe interest rate fluctuations. As rates go down, so do a slew of other rates, such as savings account rates and credit card interest rates. This is actually a good thing for the housing loan market, but you'll need to keep an eye on a moving target. Of course, the goal here is to try to lock in the lowest rate that you come across. You can do this more than a month ahead of closing, which is basically the final step when you refinance. If you’re not able to do so, you can lock in a rate even five days prior to closing.

Like getting your first mortgage, you’d have to apply for a "new loan" to refinance your existing mortgage. If you remain with the same lender, you might save some money and time since there are reduced formalities. Realizing the extent of competition out there, it’s beneficial for your lender to provide you a good offer. Nevertheless, there are a lot of lenders who are eager for your business and you can shop around, not only for reasonable rates, but also to save money on fees. The procedure which involves closing with one lender and starting with another lender, usually generates a range of fees that can frequently accumulate, so get a list of all probable fees. Request a quote that incorporates the correct fees.

If you’re thinking about living in your home for quite a number of years, then it’s better to make the most of low interest rates. Just like when you took out your original loan, you can also buy points that are a type of prepaid interest. If you have additional cash on hand, this might be helpful. Every point is 1% off the overall loan amount. By paying points, you can reduce your interest rates.

You can also go for a cash-out refinancing where you can refinance with an amount that is higher than what is outstanding on your current mortgage; the difference between your new loan and your old loan is the amount of cash you get to keep. This is basically a technique that will allow you to obtain some money as a tax-free loan on the difference between the present home value and its value from the original mortgage. For instance, if your mortgage balance is $100,000 and your current property value is $300,000, you can refinance for $175,000 and keep $75,000 as tax-free money minus the fees and transaction costs. As per Freddie Mac, one of the leading secondary mortgage market players of the country, almost 60% of borrowers who refinance do this for the aim of cashing out.

The Digerati Life is a personal finance site that offers tips and resources on credit card and debt management. Check out the site’s review of best balance transfer credit cards and 0% APR credit cards.

So what do you think is a high credit card interest rate - 10%? 20%? 30%? What about 79%?

You see, over the past few months, the banks have been preparing for the new credit card rules. You know, the rules that prevent them from "gouging" us consumers. So how are they preparing? By "gouging" us now, BEFORE the new rules go into effect!

I had one of my cards go from a 14% interest rate to a 30% interest rate - for no reason. I wasn't late. Don't have a high balance. Haven't gone over the limit. And have had the card for at least 5 years.

So to reward me, the bank raised my interest. I know, they're a business, and they need to make money. But DOUBLING MY INTEREST RATE!? That's not good business no matter what industry you are in.

But that's nothing compared to what one bank is offering. Get this - they are offering a credit card with a 79.9% interest rate!

NO, it's not a typo. 79% interest!

OK, this is not a card designed for the average consumer, it's for someone with past money problems who needs to re-establish credit. So, nobody is forced to use a card with interest rates this high.

But the simple fact that this is even a real card make the banks look exactly like the greedy fools that encourage people to get into debt and STAY in debt.

What can we do? Simple - stop relying on banks.

• Get your debt under control.

• Start your own business or get a part-time job to make extra money.

• Stop buying those things we don't really need.

• And stop buying those things we really can't afford.

• Create your own emergency savings account to borrow from when money is tight.

As long as we give up our financial control to credit cards, we're at the mercy of the banks.

So, in 2010 do what you can to take back that control! What do you think? Let us know in the comments section below:

One thing I really hate is hearing an ad for something that is "free" and then being charged for shipping or processing or some other junk fee. In my book, free means free - if I need to pay anything, then it's not free.

Or if I need to sign up for another service first, and only then do I get the item for free, then to me that's not really free either.

So quite often I get contacted by companies like FreeCreditReport.com to offer their products on my website. You know, the company with the catchy song on TV? Since they advertise the free part so loud and clear, you would imagine that your credit report would be completely free.

But is it?

Well, you must sign up for a trial of their credit monitoring service. Sure, you can cancel before the trial period ends. But that's a real pain. And the trial is only for 7 days. Otherwise, you get charged a monthly fee. So, is that really free?

Want to know the worst part?

You can actually get a free credit report without any strings attached. No fees. No sign up. No trials. So here's the service I choose to recommend:

www.AnnualCreditReport.com

Not that FreeCreditReport.com is dishonest. Or illegal. In fact, they tell you everything on their website. But like I said earlier - to me, free means FREE - otherwise I can't be bothered. So when those companies contact me, I say "no". Since it bothers me as a consumer to have to pay for something that is advertised as free, I won't offer to my site's customers. Maybe I'm being way too picky. Or maybe I'm being way too philosophical. What's the harm? They're just a company trying to make money, right?

Of course. But to me, FreeCreditReport.com is not really free. What do you think?