Credit Cards

As you apply and are approved for newer credit cards with higher credit limits, attractive rewards, and better interest rates, you might forget about the cards you were using years ago. Because these old credit cards still impact your credit history – and sometimes even your monthly finances – it’s important that you pay attention … Read more

Retailers may start charging a fee to consumers who use their credit cards. For years, merchants have paid a processing fee for credit card purchases. It’s one of the reasons that many smaller retailers don’t accept credit cards. The recent change is the result of a lawsuit settlement between merchants and processing networks Visa and … Read more

The consequences of a credit card delinquency are too serious to ignore. Not only could you have to pay a late fee, your interest rate might increase to the highest default rate. Late payments past 30 days are reported to the credit bureaus monthly until you catch up again. The more serious the delinquency, the … Read more

You can use your credit card free, but it requires you to “color inside the lines” so to speak. Make a mistake and it could cost you. Paying on the due date. Normally, internet and phone credit card payments take a day or two to post to your account. Which means that if you make … Read more

Of all the types of information that can be stolen, thieves steal credit card numbers the most. According to an Identity Fraud Report from Javelin Strategy & Research, most data breach victims in 2011 had their credit card numbers stolen – 43%. And only 22% of debit card numbers were stolen. Fewer people had their … Read more

Consumers can now check up on credit card issuers on the U.S. Consumer Financial Protection Bureau website and find out what types of complaints have been filed against lenders as well as whether the issues were resolved within a reasonable time frame. CFPB Director Richard Cordray said in a press briefing, “The Consumer Complaint Database … Read more

Paying your credit card balance in full each month is the ideal way to use your credit card. You don’t risk getting into debt and you never have to pay interest on the balance (as long as the card has a grace period). However, many of us have fallen into the habit of carrying a … Read more

The average amount of credit card debt has declined over the past several months, but many families are still struggling to pay basic necessities. Based on a recent survey, 40% of low- and middle-income families have used credit cards to pay for basic living expenses this past year because they didn’t have enough money on … Read more

The two most important pieces of information on the credit card statement are the minimum payment amount and the payment due date. We have to know this so we can make payment and avoid the consequences of a late payment. But, your credit card billing statement has a lot of other details that are equally … Read more

One of the benefits of having good credit is that other credit card issuers want your business. If you haven’t opted-out of credit card offers, there’s a good chance you receive several balance transfer offers each month. As enticing as these offers are, make sure you evaluate whether taking the offer is a good idea. … Read more