Finance Globe Blog

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

5 Credit Card Transactions That Cost the Most

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When you use a credit card , you’re technically borrowing money from your credit card issuer. And, as with most types of loans, your credit card issuer will look for ways to make a profit from what you’ve borrowed. If you want to minimize the amount of money you pay to your credit card issuer, avoid the most expensive types of credit card transactions. Cash advances When you use your credit card to withdraw cash...
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Frank
I don't think I have ever taken a cash advance from my CC. The fees were always 3% plus $10. Never seemed worth it to me.
Monday, 25 September 2017 17:45
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What to Do If You Trigger Your Credit Card's Penalty Rate

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A credit card’s interest rate is one of the most important features, particularly for cardholders who carry a balance on their credit cards. Having a low interest rate means minimizes the cost of paying off a credit card balance over time. But, don’t take your interest rate for granted. If you’re not careful to make your payments on time each month, you could trigger your credit card’s penalty rate. What is the Penalty Rate? The...
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Frank
I would also add: Call the credit card company and explain them your situation. Sometimes they can work with you and offer you an ... Read More
Monday, 25 September 2017 17:43
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4 Credit Card Features to Research Before You Apply

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Several of the latest credit cards boast a cutting-edge, sleek design that's far more attractive than plain old plastic. Cardholders would feel a rush of prestige to hand a metallic card to a waitress or whip it out in front of a line of customers. But, no matter how impressive a credit card is designed, you should never pick a credit card based on looks alone. Researching the most important features of whatever credit card you're considering is essential to making...
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Frank
When I pick out CCs, I usually focus on the rewards and don't care too much about the APRs given I am going to pay off my bill eve... Read More
Monday, 25 September 2017 17:41
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What are the Top Benefits of a Student Credit Card?

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As a college student, you will soon (if you haven’t already) realize that your financial life is changing. For this reason, there may come a point when you consider the benefits of applying for a student credit card. Before taking this leap, it’s important to assess your situation. For example, are you confident in your ability to spend within reason? If you’re on the fence, here are several of the top benefits of a student...
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Frank
I don't have kids in school right now, but when I do, I plan to get them this card. I think the benefits are great. It can teach t... Read More
Monday, 25 September 2017 17:40
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Top Reasons to Use a Credit Card When Traveling

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How do you make purchases when you are on the road? Are you comfortable with the system that you have in place?

 Just the same as when you are at home, your options include: •    Credit card •    Debit card •    Cash While all of these options have a variety of benefits, there are several reasons why you should consider making purchases with your credit card when traveling. Here are some of the primary benefits:

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Wanderer
This Blog brings to light many important concepts for traveling. As a highlight, using a Debit Card exposes your banking accounts ... Read More
Monday, 22 May 2017 13:42
Frank
When I am on the road, I 100% pay for everything with a credit card. I usually bring 1 mastercard, 1 Visa, and 1 Amex to make sure... Read More
Monday, 25 September 2017 17:39
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3 Personal Reasons to Close a Credit Card Account

3 Personal Reasons to Close a Credit Card Account
There are many things that may lead you to close a credit card account. This isn’t a decision to take lightly, as it can have a negative impact on your credit score, but it may be a move that you have to make. Here are three personal reasons to close a credit card account: •    You are done taking on debt. Many people reach a point in their life when they no longer want to...
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Wanderer
In early 2016 I determined there were more credit card accounts for me to use than was required or practical. So, I determined wha... Read More
Saturday, 22 April 2017 20:32
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Is a Statement Credit the Best Way to Use Credit Card Rewards?

Is a Statement Credit the Best Way to Use Credit Card Rewards?
Your rewards redemption options will probably include a statement credit. You might consider choosing a statement credit over other options to help reduce your debt without making extra payments. How Do Statement Credits Work The statement credit is applied to your credit card account the same way a payment would be. For example, if you redeem a $25 statement credit, your credit card balance would decrease by $25. You can redeem for a bigger statement...
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Frank
I usually take the cash back as a statement credit. Helps me lower my credit card bill once a year!
Friday, 30 June 2017 15:05
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How to Choose the Best 0% Balance Transfer Credit Card

How to Choose the Best 0% Balance Transfer Credit Card
As you search for a 0% balance transfer credit card, you’ll soon find that you have many options to choose from. All the major credit card companies have several offers to consider, with each one providing consumers with a unique set of features and benefits. With all this in mind, you may struggle to compare and select the best offer. Fortunately, there are a few basic details you can focus on to ensure that you...
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Frank
Note you can't do this if its the same credit card company, i.e. visa to visa.
Friday, 30 June 2017 14:55
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Bank of America Continues to Invest in Digital Banking

Bank of America Continues to Invest in Digital Banking
Over the past couple of years, a growing number of financial institutions have devoted additional resources to digital banking. However, Bank of America has “been in the game” from the start. Furthermore, the company expects more of the same in the year to come. In a recent press release , Michelle Moore, head of Digital Banking at Bank of America, noted the following: “As one of the first banks to offer mobile banking a decade...
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Frank
What kind of additional services could we expect with this investment?
Monday, 22 May 2017 11:00
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How Will Loan Shopping Affect Your Credit?

How Will Loan Shopping Affect Your Credit?
One of the best moves to make when you’re preparing for a home or car purchase is to shop around for the best interest rates. A lower interest rate results in a lower monthly payment and lower overall cost of borrowing. You’ll want to move quickly when you’re shopping for a loan. Otherwise, the multiple inquiries could impact your credit score. When you rate shop, your credit report may show multiple inquiries from each of...
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Frank
You can also do a soft search that won't hurt your credit score. That is what I did when I was shopping for rates.
Monday, 22 May 2017 10:57
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