Finance Globe

U.S. financial and economic topics from several finance writers.

Do You Need More than One Credit Card?

Do You Need More than One Credit Card?
Whether or not you carry more than one credit card is a personal decision. While some people like the thought of doing so, others don’t see a point in cluttering their wallet (or purse) with more plastic. Below, we’re going to examine some of the benefits of having multiple cards: •    You can have a separate credit card for emergencies, online shopping, or any other type of activity that you want to more easily track. •   ...
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Frank
I side on the argument that I think multiple cards are good. I actually have about 10 credit cards I have obtained over the years.... Read More
Thursday, 29 September 2016 11:23
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Reasons to Avoid Paying Taxes with a Credit Card

Reasons to Avoid Paying Taxes with a Credit Card
Can you think of anything worse than finding that you owe the IRS a large chunk of money? If you find yourself in this position, you can’t dwell on the past. Instead, you need to determine what went wrong and decide how you’re going to pay the money you owe. The best option is to pay your taxes in full, with cash, and then move on. Of course, this is not possible for many people. At...
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Frank
If there is no processing fee and you have the cash, it is not a terrible idea. In theory you just get the rewards and then immedi... Read More
Thursday, 29 September 2016 11:22
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Top Tips for Negotiating a Lower Credit Card Rate

Top Tips for Negotiating a Lower Credit Card Rate
Have you come to the conclusion that your credit card interest rate is entirely too high? If so, you have a few options. First and foremost, you can close the credit card and move on. If this doesn’t work for you, think about paying off your balance and not using the card. Of course, there is one last idea to consider: negotiate a lower credit card rate. This is easier said than done, but it’s definitely...
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Frank
I have actually never had any luck with this. Has anyone else? every time I have tried to ask I really get a straight up no. I wou... Read More
Thursday, 29 September 2016 11:20
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What to Look for in a Gas Credit Card

What to Look for in a Gas Credit Card
With so many gas credit cards to choose from, there’s a good chance that you’ll find one that suits your every requirement. Of course, you don’t want to apply for the first offer you find. Instead, you want to compare your options to ensure that you’re making the right decision. Above all else, your gas credit card should save you money at the pump. For example, you could receive 5 cents back on every gallon of...
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Frank
For a gas credit card, you should at least get a 3% cash back reward. Some are higher, but I would not get a gas credit card unles... Read More
Thursday, 29 September 2016 11:21
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Don’t do these 5 Things when Applying for a Credit Card

Don’t do these 5 Things when Applying for a Credit Card
Are you in the process of applying for a credit card? Are you ready to make your big move in the near future? If you find yourself in this position, there are things you should and should not be doing. Here are five things to avoid at all costs if you’ll be applying for a credit card soon. 1. Let your credit score drop. All in all, this is the one thing that credit card companies...
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Frank
I would also add to never lie on the application, sign anything without reading it fully, and get into something you do not unders... Read More
Thursday, 29 September 2016 11:19
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What if you can’t Afford to Pay Your Credit Card Bill?

What if you can’t Afford to Pay Your Credit Card Bill?
There are many risks associated with using a credit card. At the top of the list is the inability to pay your bill when the time comes. If you find yourself in this position, it’s not time to panic just yet. Instead, there are a few key steps you should take: 1. Try to collect enough money for the minimum payment. You don’t have to pay your balance in full. As long as you can scrape...
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Frank
This will likely happen to you at some point in your life. I have never been able to negotiate less of an amount, but I have had s... Read More
Thursday, 29 September 2016 11:18
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7 Things to Know Before Applying for Your First Credit Card

7 Things to Know Before Applying for Your First Credit Card
Are you thinking about applying for your first credit card? Before you begin your search and fill out an application, there are a few things you need to know. 1. The benefits of a credit card. In short, you want to know why this is a good idea from a financial perspective. 2. The potential risks of carrying a credit card. Despite the many benefits, you may soon realize that there are some drawbacks as well....
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Frank
As I always say, NEVER get a credit card unless you fully know you can pay it off each and every month. If you can't do that, then... Read More
Thursday, 29 September 2016 11:16
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Credit Card Rewards: Questions to Answer

Credit Card Rewards: Questions to Answer
Are you in the process of comparing reward credit cards? If so, you know there are hundreds of options to choose from. While each offer is worth your consideration, there will come a point when you need to make a final decision. If you’re on the fence and unsure of how to move forward, here are several questions to answer: •    How do you earn points with the credit card?•    What can the points be redeemed...
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Frank
Any time I am researching a new credit card, I always like to call the credit card company and talk to a person. To me this helps ... Read More
Thursday, 29 September 2016 11:14
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How to Close a Credit Card Account

How to Close a Credit Card Account
There are many good reasons to close a credit card account, such as if you are worried about excessive spending in the future. And while this could have a negative impact on your credit score, you may still decide to move forward. If you find that closing an account is the best option, there are some basic steps you should take: 1. Contact the appropriate party. You can find the customer service number on the back...
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Frank
Unless you really need to, I usually advice against canceling a credit card, especially if you have had the card for some time. As... Read More
Thursday, 29 September 2016 11:13
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Tips for Managing Multiple Credit Cards

Tips for Managing Multiple Credit Cards
With so many great credit cards on the market, it’s hard to just have one. However, the more credit cards you have, the more difficult it is to keep up with the payments and balances and be sure none of the cards are dormant. Here are a few tips to help you manage multiple credit cards. Make your payments on time. Paying on time is important for keeping your accounts in good standing, minimizing fees, and maintaining a...
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Frank
I have over 10 credit cards (long story), but what helps me is I organize everything in excel and map out my payments each and eve... Read More
Thursday, 29 September 2016 11:12
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