Credit Cards

If you’re new to credit cards, it’s important to become familiar with certain credit card terms. Doing so will help you understand how credit works, so that you don’t fall into any debt traps. Credit Score: A credit score is like a school grade. It tells lenders if you’re an excellent borrower, fair borrower or...

Before you get your first credit card it’s important to become familiar with certain credit card terms. Educating yourself on these terms will help you understand how credit works. That way you can prevent mistakes from ever happening – such as a mountain of debt. Take a look at these important credit card terms below:...

Some consumers who dispute charges on their credit cards are having a hard time getting those disputes resolved. Seventeen percent of those complaints in February 2017 were about billing disputes with their credit card company. The dispute stems from what many consumers describe as “confusing guidance” from their credit card company after they contacted the...

To get the most value out of a rewards credit card, you have to know how to earn points or miles in the best ways possible. A great place to start is with airline and hotel cards. Most people are familiar with how those programs work, and there aren’t a lot of cards to compare....

If it’s been a while since you’ve examined credit card offers, now is a great time to scan the market. The number of rewards cards has boomed over the years and many of the rewards being offered can be very lucrative. From traveling cheaply and receiving perks, to getting straight up cash back, the offers...

Make a credit mistake — like relying on it when you have cash-flow problems will cost you big time in the long run. But, there is one mistake that will cost you even bigger that you should try to avoid at all costs – carrying a balance. Carrying a credit card balance is very expensive,...

Constantly making late payments may be a sign that you’ve become overwhelmed by your debt. It’s an expensive mistake, and if repeated, it could cost you a lot of money. Why? Because the Consumer Financial Protection Bureau has increased the maximum fee. So, if you pay late once, your credit company can charge a maximum...

If you violate your credit card’s terms and conditions — by making late payments — your issuer could trigger a penalty or default rate. This is a very high interest rate, typically close to 30 percent. How long will it last? Your agreement will explain the conditions in which the company may apply the penalty...

If you carry a balance from one month to the next, you’ll have to pay interest charges. While that may have been okay in the past, this year interest rates will be more expensive. That means you’ll be paying more for longer, especially if you only pay the minimum balance. Even a one percent increase...

If you take a look at your most recent credit card statement, you’ll notice that your annual percentage rate is probably higher today than it was in late 2016. After the Federal Reserve meeting in late December, credit card companies quickly raised their interest rates. You don’t have to just roll over and accept this...