Since I started this blog in 2007, I’ve spend a lot of time and energy writing about the dangers of irresponsible credit card use. I fought many personal battles with those little pieces of plastic and while I’m still wary (with good reason), credit CAN be used responsibly. In many cases, you may actually be better off paying with credit over debit. There are a lot of ways that credit cards come out on top.
If you sign up for the right card, you can earn anywhere from 1-5% back on your purchases. Best choice in my opinion? The Discover More Card.
Virtually every airline has at least one credit card. Cardholders can rack up frequent flyer miles at varying rates. Many, like the Southwest Airlines Rapid Rewards® Card from Chase offer a substantial signup bonus to get you started on your way to a free airline ticket. The
Everyone who has opened up a credit card in the last five years has been pitched on various supplementary “services” from the company in question. The offers sound enticing and even logical at times, but are they really justified from a hard dollars-and-cents standpoint?
Everyone’s financial situation is different, but generally speaking, the answer is NO.
Here are six credit card services that you do not need.
This is typically framed as a way to avoid liability for fraudulent charges made after your credit card is stolen. It sounds appealing, but many consumers fail to realize they are essentially ALREADY covered from this by 1968’s Truth in Lending Act. This law states that if you report the stolen card immediately, your maximum liability for fraudulent charges is $50. As such
If you pay for everything in cash, learning how to find the best credit card may not be for you. However, if you plan to use credit cards responsibly and pay them off each month, choosing the right credit card is important. Save cash with these helpful hints.
Imagine a credit card with a permanent zero percent interest rate, rewards and an ample grace period during which no late payment penalties occur. Now crumple up that fantasy and get ready to wade through thousands of credit card offers on sites like Bankrate and Credit Card Offers, to name two of many. The path to finding your ideal credit card must begin with a clear assessment of where you stand.
A new study released Wednesday showed that consumers are generally pleased with the way credit card companies deal with reports of fraud, but that they feel more can be done to prevent the incidents in the first place.
The study by Javelin Strategy and Research graded 23 companies on a 100-point scale in the way they detect, prevent, and deal with incidents of fraud. The average score was just 59 points.
The companies scored an average of 18 out of a possible 20 points in the way they resolve fraud incidents, according to the study. But they fared only so-so in fraud protection (24 out of a possible 45 points) and poorly in fraud prevention17 out of a possible 35.
For individual companies, Bank of America was the top scorer, garnering 87 out of a possible 100 points.
More consumers are satisfied with the new protections afforded by the CARD Act
More Americans are comfortable with their credit card accounts due to the new protections afforded by the Credit Card Accountability, Responsibility and Disclosure Act, a new report reveals. A survey conducted by Consumer Reports National Research Center shows 45 percent of cardholders are “completely” or “very satisfied” with their credit cards.
Survey respondents have also attributed their credit card debt reduction to the passage of the Credit CARD Act, with 23 percent reporting they were encouraged to pay off their bills in full after seeing the Minimum Payment Warning included on their statement. Read more…
College students make up a huge percentage of Americans who are now knee-deep in debt. Although most debts come from reckless and irresponsible credit card spending, the majority of students spend credit for their tuition, academic materials, and other education-related fees and payments. However, if left unchecked, these students will find themselves in debt trouble once the bills start coming in.
Granted, the increasing tuition fees and the bad economy have forced students to rely heavily on their cards to pay for their fees and continue their education. As this should not be the case, given that education is a right of every man, it is quite hard to go to school without spending.
For students who are using cards, they can actually save while spending credit for the education. Read more…
Credit card debt seems to be a phrase that we are hearing more and more about.
With declining economic conditions, more people are finding themselves unable to meet their financial obligations. Credit cards are one of the most cumbersome debts that a consumer can try to maintain. It is common to see interest rates at prime interest, plus twenty percent.
Hector Milla Editor of the “Credit Card Debt Counseling” website — http://www.CreditCardDebtCounseling.biz – pointed out;
“…This means that you are paying well over twenty percent interest on your credit cards. This could be on top of any maintenance fees or late penalties. It is easy for these debts to get out of control. There is a way out. Debt consol Read more…
