Using Credit Cards:
It's important to be well educated about using credit cards before applying for credit or making any other major financial decision. In our education center we will inform you about any aspect of applying for and using credit cards. We publish new credit card articles weekly so be sure to check back often.
Tips to Use Your Credit Card WiselyMany people today have mounting credit card debt. While some credit card debt is truly a necessity, most people have piled high credit card bills because of mismanagement. If you are one that has mismanaged your credit cards, getting them back under control can seem impossible. With some hard work and dedication you can get your debt back under control and learn to use your credit card wisely.
How to Opt Out and Protect Your Credit ScoreLike many Americans, you may have noticed that your credit card rate is poised to increase – as high as 29.99% in some cases, even if you’ve got a sterling payment history! You can choose to opt out of these changes, but to do so, you must close your credit card account. How will opting out affect your credit score?
Four Opt-Out Mistakes to AvoidDid you get fed up with the proposed credit card fee hikes and decide to exercise your right to opt out? If you make a mistake when you opt out, you might still be subject to the new, higher rates. Before you give up on your credit cards, make sure you’re opting out the right way. Here are four mistakes to avoid when you tell your credit card company, “Thanks, but no thanks.”
Britney Spears: A Surprisingly Virtuous CardholderWhile Britney Spears usually serves as an example of what not to do, when it comes to credit card debt, she’s a surprisingly good role-model. Let’s put her other shenanigans aside for a moment and focus on the three credit lessons we can learn from Britney Spears.
Wal-Mart and the Paperless Payroll SystemPayroll checks will soon be a thing of the past at Wal-Mart, America's largest retailer. That's because Wal-Mart is moving to a paperless payroll system. Employees will have two choices: receive their payments through automated bank deposits, or receive payment in the form of payroll debit cards.
Use Your Credit Cards' Extended WarrantyMany credit cards offer a free extended warranty benefit on purchases made with the card. American Express offers an extended warranty benefit on all of their credit cards; Visa Signature Cards has the Visa Warranty Manager program, and the Platinum, Gold and World MasterCard has a warranty extension program. If you're not sure if your credit card offers extended warranty benefits, call the toll free customer service number printed on the back to find out. Basically, credit card extended warranties will cover purchases made using the credit card when the manufacturer's warranty ends for a certain period of time.
When You Are Over Charged On Your Credit CardFor the most part, credit cards are just as safe as using cash. In fact, some would argue that credit cards offer additional security and protections that you can't get when you buy products with cash. Sometimes though, mistakes happen and a merchant may charge you more than they should have for products or services you didn't receive. Some cardholders have been charged for transactions that didn't take place at all.
Don't Make These 5 Credit Card MistakesWhen they're good, credit cards are very good - but when they're bad, they're horrid! Follow these five tips for making your credit card experience a good one.
Keep an Ideal Credit Card Balance to Avoid Future Financial ProblemsThe average American household carries over $8,000 in credit card debt from one month to the next. In recent years, it was almost too easy to get a credit card. New high school graduates, college students, and individuals with problems paying their bills on time could all apply for, and receive, a credit card with their name on it. As the housing market came tumbling down, and more Americans started getting laid off – credit card lenders began tightening their purse strings and making it more difficult for individuals to get approved for credit.
Credit Cards You Really Don't Want to CancelAs the economy continues to struggle, and President Obama continues to push for new credit card legislation, many Americans are committing themselves to paying off credit card debt. What many do once a card is paid off though, is to cancel the account completely to avoid getting into debt again. While it's a reasonably good idea for debt management (particularly if you are someone who has trouble resisting the temptation to use a credit card when it's in your wallet!)
Credit Card Questions for your Future SpouseIn a serious relationship? Then it's a good time to talk about credit cards. Before you say 'I Do', you should come to an agreement about how you and your spouse plan to use your credit cards.
Pay Your Taxes with Your Credit Card?Lurking around the corner is that pesky April 15th deadline for filing your federal and state income taxes. In addition to the pressure to get these completed, you have credit card companies who are encouraging you to pay your taxes with your cards. Talk about a discouraging activity. You go from the frying pan to the fire when paying in this manner and here’s why.
A Newborn Child Does Not Mean Newborn Credit Card DebtWith a little planning and budgeting a newborn baby can be a joyful experience for a family while avoiding the added pressures of mounting credit card debt. Face it having a baby is a very expensive life event. Not only are there added medical expenses which hopefully, the majority are covered by one's health insurance, but also there are the added expenses of preparing for baby's arrival. Typically baby showers provide for a lot of the little necessities but some of the larger more expensive items have to be provided by the parents, grandparents or other family members.
Using Credit Cards Helps You Prepare Your TaxesBusiness owners have long recognized the value of using credit cards for business record keeping and tax preparation – but did you know that credit cards can also help you prepare your personal income tax returns? For those of you with a home based or small business, having a credit card that is used only for business purposes is ideal as it helps you separate your personal and business expenses.
Learn How to Use Credit and Do Not Allow It to Abuse YouOne of the most important concepts of using credit cards is for you to use them; do not allow them to abuse you. This means staying on top of your credit card accounts and balances and managing them so that you do not incur fees and charges which cause you to have to pay more than you should.
Should You Use a Credit Card For Your Next Purchase?Ever stand in a check-out line and find yourself faced with the decision of whether or not to pull out your credit card or just use cash or a check? It is much easier to pull out the credit card and deal with the outcome of that decision later. Is it not? The quick mental exercise goes something like this: cash is better left in your wallet for very small purchases, and checks take too much time to write and process.
How to Use Your Credit Cards as You AgeAs we go through life, our financial situation changes. So should our attitude toward credit card use. Read on to learn what the experts have to say about using credit cards from age 20 to retirement.
Beware of Some Current Trends in Credit Card PracticesWhen the economy is tight, people start getting a little desperate about what their next move should be. While it is always important to have a plan, it is equally important to be careful of jumping on the bandwagon with every new idea that comes along. Some offers and ideas can be a great idea, but others will do little more than set you up for more problems down the road.
The Art of Piggybacking for Good CreditSome people raise their children's credit scores by giving the kids a free credit ride. This practice is controversial, but is it illegal? What happens when the kids get a card of their own? This article answers these questions and more.
Pay With Credit Cards for Maximum SecurityWhen you buy things with your credit card, you're protected against fraud. But that's not the only way that credit cards make your purchases more secure. Read on for more information about the benefits of paying with plastic.
Choosing Between Debit and Credit CardsDebit and credit cards are convenient ways to pay for goods and services. But which type of card is best for you? That depends. Read on to learn more about the benefits you can expect from debit and credit cards.
Using a Credit Card For All Purchases Without Going Into DebtThere are many reasons why you might like to pay your monthly expenses and purchases on your credit card, instead of using a combination of cash, check and debit card purchases - but there are also many reasons why people shy away from doing so! You can effectively use your credit cards for all expenses and not end up in debt.
High Credit Score, or Low Debt?Would you rather have a high credit score, or a low amount of debt? Do you really have to choose? Here's a look at two different credit goals, and how to reach them.
Credit Cards Can Help You Budget Everyone knows what happens when credit cards are not used responsibly - people wake up one day to realize that they have too much debt and not enough money to pay for it. To make matters worse, credit cards typically charge high interest rate, late fees and excessive finance charges - causing many card users to pay two or three times what the purchase price was actually worth (if not more!)
6 Ways Credit Cards Make Life EasierCredit cards offer all kinds of benefits. All you need to do is call customer service or read the fine print to find perks that can help you in all sorts of situations. Read on to learn more!
Credit Card Tips for the New YearDid 2007 leave your plastic a little thin? Here are some ways to change your habits for the better and enjoy good financial health in 2008.
Be Disciplined With Your First Credit CardIt can be so easy to think of the funds available to you through your credit card as free money, especially when it’s your first card. You never actually see any cash—you just hand the cashier this piece of plastic that some nice company sent you in the mail, and the cashier gives you your purchases. You don’t see the cash until it starts disappearing from your savings, after you’ve maxed your credit card out and are buried up to your neck in late fees and penalties, and your credit score starts going down the tubes.
The Holidays Are Rapidly Approaching: Do You Know Where Your Credit Cards Are?It’s only October, but there is actually less than 82 shopping days remaining until Christmas. Many people are still paying their holiday debt from last year, let alone feel ready to start the holiday gift buying season all over again. Didn’t you make a promise to start your holiday shopping earlier this year, so you wouldn’t be as tempted to rely on credit cards at the last minute? Now would be a very good time to start planning for your holiday shopping. If you can work it into your budget for the next two and a half months, you may be able to avoid the dreaded after-holiday-credit-card-debt issue that the majority of American’s experience at the start of every new year.
Be Wary of Phony Credit ScamsPeople with bad credit histories are in a tough spot. Even if you’ve recently cleaned up your act, it can take a lot of time and work to get your credit score back to a workable place, and the process can get wearing fast—especially if you’re trying to get a small loan or mortgage. So if you have bad credit, and someone sends you a letter that says that they can have your credit score right as rain by the end of the week for just a small fee, you’ll probably sit up and pay attention.
Credit Card Cash AdvancesMost credit cards give you the option of withdrawing a cash advance from your line of credit on your card. You just go to any ATM, and use your credit card to withdraw cash as if it were a debit card. This might seem like an attractive option—sometimes cash is just handier than using plastic. In theory, it seems like it should be the same as using your credit card to purchase goods for an equivalent amount. Unfortunately, people who use their cards to get cash advances while under this impression are in for a big shock.
Credit vs. Debit: Which is Better?Most people either personally own or at least know about credit cards. Credit cards are small, rectangular pieces of plastic that can be used to purchase items in stores and on the Internet in place of cash. All of the many different types of credit cards in existence come with very specific and individual credit terms and conditions that state when payments must be made on credit balances, how much interest must be paid on out-standing credit balances, and what will happen to a credit card holder if payments are not made on time – which usually consists of the need to pay late fees.
Use Credit Cards Wisely During the Holiday SeasonWhen November rolls around every year, stores begin advertising like crazy, and people start getting in the mood to shop. Just about everyone has a list of people for whom gifts must be purchased, and the only way to accomplish this is obviously to spend money. Unfortunately, many people see the holiday season as a good excuse to put all purchases and expenses on a credit card because they don’t have enough cash on hand to pay for everything all at once.
Vacations: Paper or Plastic?When you go to the grocery store, you are casually asked whether you want to bag your items in paper or plastic. Then you make the decision whether to pay with paper (cash) or plastic (debit or credit cards). These routine decisions probably take you less than a second to decide, but what about the vacation version of the paper or plastic option?
Be Smart With a Credit Card and Use it WiselyOwning a credit card is something that can be a very positive thing… as long as it is used responsibly. There are many ways for people to use credit cards to their advantage, but there are also ways for credit cards to get people into financial trouble. By following a few simple tips related to managing credit card usage, a credit card can be a very beneficial piece of plastic to own.
Going CashlessMany people believe that eventually, and sometime in the not so distant future, no one will carry cash in their pockets, and everything will be purchased using plastic. That day is today!
How Many Credit Cards Should I Have?Enticing credit card offers fill the mailboxes of thousands of Americans every day. Accompanied by amazing offers of zero percent interest for six months and no fees for balance transfers, 15% to 20% off your first purchase, discount hotel rates and free movie tickets, the list goes on and on.
Maintaining an Optimal Balance While the advertisements of the Visas and MasterCards of the world continue to tout the convenience and ease at which you can shop or handle an emergency with just a swipe of the plastic, they fail to mention how you as a consumer should use your card including guidelines as to how much credit limit is too much and how to keep from ruining your credit rating by constantly maxing out your credit card. The purpose of this article is to provide you with some insight in these two areas.
Credit Cards and Personal BudgetingWhen you apply for and receive a credit card, you will want to take the time to create a detailed budget for your family’s finances. Without a budget, and without carefully planning the credit card expenses, you could fall into the credit trap that many individuals have found themselves in.
Advantages of using a credit card for monthly expensesA credit card can be a great tool for managing your monthly living expenses. Using your credit card to charge all of your bills and purchases can make life easier. When used wisely, this approach can save time and help you maximize your credit card’s rewards program.
Sound Advice For First Time Credit Card UsersIf you are just entering the world of credit cards, there is important information you will need to know in order to manage your credit and your finances effectively. Establishing good habits and a good credit history now is the foundation for a solid financial future.
Using credit cards wiselyCredit cards can be very useful when used correctly, but when used incorrectly they can cause you a great deal of suffering. Learn the ways you should and should not use credit cards.
Read more...
