Credit Card Usage | Credit Card Topics

What is the Credit CARD Act of 2009? How the Legislation Impacts Consumers

By: Marcie Geffner, 9/5/2024

Throughout my life, I've never had significant problems with my credit cards or card debt. That may be because I've had two big advantages: a good financial education and a career as a financial writer. But also, I've been lucky. Many people without my advantages have serious problems with cards and card debt. Those problems would almost certainly be much worse were it not for the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009. The CARD Act is... read more »

What is a Credit Card APR? How Issuers Calculate Interest Rates

By: Eric Bank, 8/27/2024

Credit card APR is a term that is frequently used but not always understood. Sure, most folks have a notion that it’s some sort of interest rate, but what does it include, and what does it leave out? Does it truly represent what you’ll pay to use a credit card? The annual percentage rate, or APR, is the standardized yearly rate credit card issuers charge when you carry a balance. It represents the cost of borrowing money and offers potential insight into how much interest... read more »

What is an Introductory APR on a Credit Card?

By: Erica Sandberg, 8/26/2024

Want to borrow money for purchases and then revolve balances without any finance fees added to the amount you owe? How about transferring an expensive existing debt to a new credit card that won't charge you any interest for a specific period? Welcome to the world of credit cards that offer introductory APRs. These time-sensitive deals can save you a lot of money when you use them correctly while helping other aspects of your financial life. Before applying for... read more »

What is a Credit Card Signup Bonus? How the Popular Incentive Works

By: Eric Bank, 7/11/2024

When I received my first signup bonus, I was over the moon. It proved addictive — all my subsequent credit cards had to provide this little sugarplum to earn a place in my wallet. I suspect I'm not alone in this. A credit card signup bonus is a reward a credit card company offers new customers to encourage them to get a credit card. This usually comes as cash back, points, or miles. Issuers use this bonus to attract new customers and get us to use the card immediately, which... read more »

What is a Credit Card Promotional Period? How to Manage and Maximize Introductory Offers

By: Eric Bank, 7/10/2024

My heart wanted this nifty new camera with a retro design, but my budget was implacably opposed. My solution was to obtain a new credit card with an introductory 0% APR for 15 months. What once seemed impossible now became easy-peasy. Say, "Cheese!" The credit card promotional period is when, under special terms, the interest rates of credit cards are much lower or even zero. They can apply to new purchases, balance transfers, or both. You can use the promotion period to pay for... read more »

What is an Authorized User? A Guide to the Pros, Cons & Legal Responsibilities

By: Eric Bank, 6/6/2024

An authorized user on a credit card is someone the primary cardholder adds to their account. As an authorized user, you can use the credit card just like the person who owns the account, but you don’t have to apply for the card yourself. The primary cardholder is still the one responsible for paying the bill. You get your own card with your name on it and can buy things or pay bills just like you would with any other credit card. In this article, we'll describe how to... read more »

11 Credit Card Habits You Need to Break Now

By: Andrea Woroch, 4/8/2024

Dramatic price hikes across consumer goods and services since inflation began surging in mid-2021 have prompted people to take on record credit card debt — surpassing $1 trillion at the end of 2023, as the Federal Reserve Bank of New York reported. While skyrocketing food, energy, and housing costs are much to blame for consumer debt, we can’t ignore poor credit card spending habits. Taking control of how you use your credit card is the first step in getting out of debt.... read more »

What is Credit Card Churning & Does it Affect My Credit?

By: John Ulzheimer, 1/16/2024

There is no shortage of strategies to maximize the financial benefit of credit card accounts. Most of them are generally positive in nature, with little to no downside. But one strategy that threatens to damage your credit reports and credit scores, both short and long term, is the so-called credit card churning — and it should be approached with caution. Credit Card Churning is the Pursuit of Signup Bonuses Credit card churning is the process whereby a consumer applies for and... read more »

18 Revealing Credit Card Ownership Statistics (2024)

By: Mike Senecal, 11/15/2023

Credit cards have come a long way from their start in the late 19th century, when stores and hotels began offering metal and celluloid charge cards to stamp account numbers on sales slips. It was a decidedly analog beginning for an industry transitioning from chip and PIN cards, where a metallic chip holds payment data on a plastic card, to virtual cards and global digital payment systems. Nowadays, Americans are so accustomed to using physical and virtual credit and debit cards... read more »

7 Best Credit Cards Reddit Users Recommend (Aug. 2024)

By: Eric Bank, 8/13/2024

Many consumers find the Reddit platform a valuable source of information about credit cards. Reddit’s large community offers diverse opinions on various topics, including how to choose the best credit card for your situation. You can use the subreddit r/CreditCards to add your own comments about credit cards. To compose this list of Reddit’s top recommendations, we’ve combed through many of the site’s posts for advice about credit cards. We also review each recommended card... read more »

3 Best Discover Cards For Beginners (2024)

By: Eric Bank, 4/16/2024

A beginning is a delicate time. So opens Dune, Frank Herbert’s science-fiction masterpiece. What was true of galactic politics remains true of your first credit card. You want to start off on the right foot -- and that foot could be Discover. Discover’s credit cards provide excellent value without charging annual fees. This article reviews the cards it offers that best suit credit newbies. We also review several competing cards that deserve consideration if you’re beginning... read more »

5 Best Credit Cards to Use at Sam’s Club (Aug. 2024)

By: Zina Kumok, 7/23/2024

At a time when grocery prices are still increasing, consumers looking to save money will head to warehouse chains like Sam’s Club to find lower prices than they would at a traditional grocery store. If you already shop at Sam's Club, you know all about these savings — but did you know that using the right credit card can save you even more money? Read below to learn about the best credit cards to use at Sam’s Club, how to sign up, and which one to choose. Best... read more »

Global Entry vs. TSA PreCheck vs. CLEAR: Credit Card Benefit Comparison (2024)

By: Marcie Geffner, 1/27/2024

Airline travel typically involves a lot of waiting in lines. There's a security screening when you leave and, if you're traveling internationally, a customs check-in when you arrive. A prescreening service, such as TSA PreCheck, Global Entry, or CLEAR, may give you access to an expedited security process so you can get to your gate faster. These services can be pricey, but smart travelers who plan ahead can access all the benefits with none of the costs by applying for and using... read more »

Capital One Venture vs. Venture X: Which Wins? (Aug. 2024)

By: Eric Bank, 8/13/2024

Capital One’s commercials are light-hearted, but the company is deadly serious about attracting new cardholders. This Capital One Venture vs. Venture X showdown reveals how far Capital One will go to gain market share at its competitors’ expense. Its two top travel cards offer excellent value -- your choice hinges on the features you are willing to pay for. Venture X Charges a Higher Annual Fee For More Travel Privileges Though the Capital One Venture X Rewards Credit... read more »

15 Credit Card Tips & Tricks from Experts (2024)

By: Erica Sandberg, 1/26/2024

Using a credit card advantageously is within everybody's capability. You just need to learn the tricks of the trade. There are some strategies you can employ to make sure you are always on top of your account and are using it to your benefit. You can also protect your account against fraud, establish a positive relationship with the issuer, and just make life easier for yourself. If you falter, though, it can cost you both fees and credit damage. The following 15 tips... read more »

9 Best Unsecured Credit Cards For Building Credit

By: Eric Bank, 6/3/2024

Do you toss and turn at night worrying about your lousy credit score? You don't need a better mattress; you need better credit. We hate to see you dragging your sleep-deprived self around in the morning, so we've assembled a list of the best unsecured credit cards for building credit. You can obtain any of these cards without a security deposit (typically $200 or more). The card issuers designed these products for folks with less-than-good credit (i.e., FICO scores below 670).... read more »

Credit Card Ownership By Age, Income, Gender & Race in 2024

By: Erica Sandberg, 9/19/2022

Data on who applies for and receives certain credit cards and what they do with credit cards once they’re activated reveals interesting consumer trends. Credit card holders have different characteristics that vary in scope. All the collected facts and data paint a fascinating story about US consumers and their credit cards. Here are the most recent statistics on account ownership broken down into key demographic measures: age, income, gender, and race. Navigate... read more »

5 Best Secured Credit Cards to Build Credit (2024)

By: Eric Bank, 4/16/2024

It's true that the best secured credit cards to build credit carry some upfront costs. But for folks with bad credit, they are cheaper and generally better than subprime unsecured credit cards. In many respects, secured cards are very similar to unsecured cards. They allow you to charge in-store purchases without carrying around cash or a checkbook. Unlike debit cards, they let you stretch your payments over several months, a helpful feature for big-ticket purchases.... read more »

9 Best Credit Cards For Streaming Services (Aug. 2024)

By: Eric Bank, 8/13/2024

COVID-19 changed the world in so many ways, including boosting the popularity of the best credit cards for streaming services. During the movie theater shut down, folks fought cabin fever by increasing their consumption of on-demand streaming video. About 85% of US households subscribe to at least one streaming service, and the share of subscribers using five or more services has quadrupled since 2019. Against this backdrop, several credit cards for folks with a high credit... read more »

7 Best Starter Credit Cards to Build Credit (2024)

By: Eric Bank, 5/29/2024

In this article, we review the best starter credit cards to build credit. Using a starter credit card is an efficient way to create and build your credit history. Many consumers who’ve never used credit are candidates for these cards, including students. In addition, you can work to rebuild a low credit score by getting a starter credit card and using it responsibly. These cards are easy to acquire and most offer cash back rewards. Whichever one you choose, resolve to pay your bill... read more »

7 Best Credit Card Benefits (Sep. 2024)

By: Eric Bank, 9/9/2024

I really appreciate having access to some of the best credit card benefits currently available. My upcoming family trip to Disney World will include freebies such as travel insurance, collision damage waiver on the car rental, access to airport lounges, and free checked bags, thanks to my favorite credit card. While some benefits only come with premium cards, many everyday cards offer perks to save you money. You can find cards that cover your purchased items against damage,... read more »

Chase Freedom vs. Discover it® Cards (Aug. 2024)

By: Brittney Mayer, 8/1/2024

In the modern consumer marketplace, many industries are often dominated by two leading brands and their latest products. If you want a soda, for instance, you're likely choosing between some version of Pepsi or Coke. Similarly, most people likely carry a phone sporting the latest version of either Android or iOS. When it comes to cash back credit card rewards, two of the biggest names to beat are the Chase Freedom cards and Discover it® credit card line. These are somewhat... read more »

3 Credit Cards For Kids & Ways to Help Them Build Credit (2024)

By: Erica Sandberg, 1/24/2024

Children often want to feel more grown-up than they actually are, and that includes craving a certain amount of financial autonomy. Yet as much as kids may want to have their own credit card, minors cannot legally sign a contract. You must be at least 18 years old to get a credit card as the primary cardholder. Prepaid cards can bridge the gap. They let kids enjoy spending freedom without the risk of amassing credit card debt or credit damage. They can also help children... read more »

8 Instant-Approval Credit Cards with Instant Use (2024)

By: Eric Bank, 8/13/2024

If you navigate your life at warp speed, you’ll love these 12 instant-approval credit cards with instant use. Instant approval isn’t unusual, but not all credit card companies allow you to use your card instantly. That’s a shame because when we need a card, we need it now! Am I right, people? The cards reviewed here, for the most part, provide you with your actual card number instantly. This is separate from any temporary virtual account number issuers give you for added... read more »

11 Best Credit Cards For Gas & Groceries (Aug. 2024)

By: Eric Bank, 8/1/2024

I didn't have a clue about the best credit cards for gas and groceries during my undergraduate days. In fact, I'm sure they didn't exist back then. Too bad because I spent most of my meager funds at the grocery store on delicacies like flaked tuna, semi-stale bread, and Vienna sausages. A little cash back would have helped back then, and for many, it still helps today. And even if I didn't drive a car when I was in college, you probably do and can benefit from a gas rewards... read more »

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