The Benefits of Paying More Than the Minimum on Your Credit Card Bill
A minimum payment is always included on your monthly credit card statement. Minimum payments are typically fixed amounts. Additionally, if your balance is above a certain limit, you will be charged a percentage of your balance, usually between 2% and 4%. Keeping your account in good standing always requires you to pay the minimum by […]
MULTIPLE CREDIT CARDS AND YOUR CREDIT SCORE
A credit card can be used to establish credit if you have at least one open card that can be reported to credit agencies. Beyond that, there is no specific number of cards you should carry in your wallet to maintain good credit. Having credit cards directly impacts your credit score, but the number of […]
THE CORONAVIRUS PANDEMIC AND CREDIT CARD TRAVEL REWARDS
The Coronavirus pandemic has cancelled travel plans across the globe, and it is likely to continue disrupting travel for some time. As of now, it’s likely that your vacation plans have been canceled, and you’ll have to stay home instead. If you own a travel rewards credit card, you might wonder how to maximize your […]
WHEN IT’S NOT WORTH YOUR TIME TO USE A STORE CREDIT CARD
Most retailers, including online sellers and department stores, have their own version of a store-branded credit card. You’ve probably been offered one in exchange for a discount off your purchase at some point. Even though retailers often try to lure customers with savings at the register, store credit cards aren’t always the best choice when […]
LOST OR STOLEN CREDIT CARD? HERE’S WHAT YOU NEED TO DO
Your credit card is one of the most valuable items in your wallet, so you may feel frantic if it’s lost or stolen. However, unlike some other types of property, your credit card is protected by federal law. It might be difficult to replace it, but if you act quickly, you can minimize the damage. […]
WHY CREDIT CARDS ARE BETTER THAN DEBIT CARDS TO AVOID FRAUD
When it comes to protecting your ID, debit cards are one of the worst ways to use your money. Due to its direct connection to your bank account, anyone with your card information can withdraw all the funds from your account instantly. The fact that debit cards do not have nearly as many protections as […]
A WAY TO PAY DOWN HOLIDAY CREDIT CARD DEBT
You’re not alone if you went into debt shopping for the holidays. Several American consumers plan to put some of their holiday spending on their credit cards to pay off later. However, too much holiday credit card debt can harm your wallet and your credit rating. Having a large credit card balance can lead to higher […]
STOP BELIEVING THESE 5 CREDIT SCORE MYTHS
Since 2012, American consumers have had less knowledge about credit scores, resulting in a general lack of awareness around credit. In addition, when you don’t know much about your credit, it can be easy to believe misinformation. Sadly, believing falsehoods about your credit can lead to poor credit decisions. Don’t be misled. Here are […]
Are You Considering Getting Rid of Your Credit Cards? Read This First.
According to the Consumer Financial Protection Bureau in its latest semi-annual report, credit card debt has risen again after falling temporarily during the COVID-19 lockdowns. Americans use plastic to fund more and more purchases, causing you to feel overwhelmed by the number of credit cards you have and even worried that the number of […]
Credit Card Late Fees: How to Avoid Them
Even if you’re diligent about paying your bills on time, mistakes can happen. Credit card late fees are no exception. A credit card company can charge a late fee of up to $29 for the first late payment and up to $40 for subsequent late payments (though the fee cannot exceed the minimum amount due). Late […]
With a New Credit Card Program, Applicants with No Credit can Qualify using Their Bank Account
Traditionally, anyone applying for a credit card must undergo a credit check to be approved. In order to approve an applicant for a credit card, the credit card issuer pulls the applicant’s credit report and credit score. Many people who don’t have credit can’t get a credit card approval because of this process. There’s a […]
APR: What Is It and How Does It Work?
Lenders don’t give away money for free. As nice as that might be for those receiving the loan, that’s not how loans work. It costs money to borrow money. This cost is known as the annual percentage rate (APR). An APR is a measure used to determine how much a particular loan will cost. In […]
Can a Credit Card Transfer Help You Pay Down Debt?
Credit cards that offer strong balance transfer offers can help cardholders with high interest rates pay down their debt faster and more affordably. The concept is simple: you transfer your existing credit card debt to a new card with a lower interest rate, with the intention of repaying your debt quicker. How does a balance […]
Here Are 5 Things You Shouldn’t Charge To Your Credit Card
Your credit card can be a useful tool for personal finance if you use it correctly. You can use credit cards to pay for everyday purchases, build your credit score, and earn valuable rewards. If you use your credit card improperly, you can easily damage your credit and fall into financial trouble. There are certain […]
Here Are 6 Credit Card Benefits You May Not Know About
Most credit card companies emphasize their showier benefits, such as cash back rewards or airline miles, to bring in new customers. Some credit cards provide much more than that, offering their customers a wide range of valuable benefits. If you only pay attention to your credit card’s surface level perks, you might not be getting […]
Here Are 5 Things To Avoid in Credit Cards for People with Bad Credit
Responsible use of a credit card is one of the best ways to build credit. Your credit score can be improved by maintaining a low balance and making your payments on time. However, if you already have bad credit, getting a credit card can be difficult. Secured and unsecured credit cards are available to people […]
Negotiations with Credit Card Companies 5 Steps
You might believe you’re stuck with the terms of your current credit card if you’re unhappy with them. But credit card companies will often negotiate certain terms, especially if you’re a good customer or have special circumstances. Here are five things you can negotiate with your credit card company. 1. Annual Percentage Rates The annual […]
Credit Cards Can Help Your Credit Score in 4 Ways
Credit cards are among the best tools available for building or improving credit when used correctly. Several of these factors are directly impacted by them, making them a good place to start if you want to improve your credit score. The following are four ways credit cards can improve your credit score. 1. Age of […]
Before Your Child Can Drive, They Need a Credit Card
In many respects, the parental refrain “Do what I say, not what I do” isn’t a wise one, but especially when discussing finances with your children. You may be teaching your children bad money habits if you rack up credit card debt you can’t afford. It can be confusing to follow such oxymoronic advice. The […]
Building Credit with Secured Credit Cards
When used correctly, credit cards can help build credit. You may have trouble getting approved if you have bad credit or thin credit history. It’s a classic catch-22. Secured credit cards are designed specifically for people in your situation. Unlike traditional credit cards, these cards have a few quirks, but they are easier to obtain […]
What’s Safer for Online Shopping: Credit Cards or Debit Cards?
Shopping online is convenient and offers great deals, but it leaves you vulnerable to hackers and data breaches. Criminals are constantly trying to hack into the databases of online retailers to access consumers’ personal information and credit card information. It is important to protect yourself online, and that includes determining how to pay for purchases […]
Do You Know How Your Credit Card’s Minimum Payment Is Calculated?
The minimum payment on your credit card statement is one of the most critical numbers you need to pay attention to when it comes to your bills. When you carry a balance on your credit card, the card issuer will determine a minimum payment you must make to maintain good standing. The minimum payment is […]
Your Credit Score Can Be Affected By Holiday Credit Card Spending
Gifts, food, and travel costs can all add up quickly during the holidays. It can be detrimental to your credit score, however, if you charge all your expenses to a credit card and plan to pay it off later. Use your credit card wisely this holiday season. Here’s how holiday credit card spending can impact […]