The Ultimate Guide to Credit Cards
Saturday, August 15, 2020

All articles tagged Credit Card Usage (page 7)

5 Common Credit Card Blunders (and How to Fix Them)

5 Common Credit Card Blunders (and How to Fix Them)

More than 160 million Americans carry credit cards. Unfortunately the vast majority of those consumers are misusing their credit cards, resulting in a national average of $15,000 in credit card debt per card-carrying household. "Irresponsible credit card use leads to financial loss, either through interest and fees or increased cost when your credit profile is damaged," said ClearPoint Credit Counseling Solutions credit counselor Thomas Nitzsche. Whether it's overuse or misuse,... read more »

How Credit Card Companies Calculate Your Minimum Payments

How Credit Card Companies Calculate Your Minimum Payments

One of the first things you should consider when exploring new credit cards are their methods for calculating minimum payments because there are multiple techniques the credit card companies use. The minimum payment is the amount you must fork over each month based upon your unpaid balance, interest and fees. The Credit CARD Act of 2009 created new rules regarding how issuers must report information about minimum payments. Percentage Methods Typically, credit card companies... read more »

Marijuana Dispensaries Starting to Accept Credit Cards

Marijuana Dispensaries Starting to Accept Credit Cards

If Colorado thought the legalization of marijuana was the end of a fiery debate with the government, it is sorely mistaken. Financial institutions are becoming increasingly uncomfortable with the pot business as multiple marijuana dispensaries have turned to credit and debit cards for sales in Denver. The biggest issue being federal regulators consider these transactions illegal. The Treasury Department and Justice Department have issued statements assuring banks they won’t... read more »

3 Reasons to Never Miss a Monthly Payment

3 Reasons to Never Miss a Monthly Payment

For better or worse, your credit card tells the world a lot about you. It can tell a happy story when you make your payments on time — you're someone who can handle your current credit debt and probably more if you need it. However, miss a payment and the story sours. Your costs can go up and your access to further credit is threatened. Credit counselors often point out the wisdom of paying back more than the monthly minimum amounts on your credit cards, because otherwise it... read more »

5 Credit Card Travel Secrets from the Airfarewatchdog

5 Credit Card Travel Secrets from the Airfarewatchdog

Thinking about buying some plane tickets and taking a trip some exotic locale? Or maybe you just want to fly across state to visit some family? Wherever your destination, we assume you want to save as much money on travel as possible. That's where your credit card comes in. To entice their customers to spend more, many credit card issuers offer their customers convenient ways to cut back their travel costs through incentives, reward programs and other perks. I spoke with... read more »

How We Improved Our Credit Score

How We Improved Our Credit Score

I am a credit agency’s dream — I have never made a late payment, I always pay my bills early, and I have ample savings. My husband, on the other hand, did not take his credit as seriously as I did. He missed a couple of payments, only paid the minimum amount due and even paid an annual fee for a credit card. These things did not sit well with me — we needed to initiate "Operation: Improve Your Credit Score." I was determined to help my husband raise his credit score so... read more »

Could You Be Addicted to Credit Cards?

Could You Be Addicted to Credit Cards?

With one look at statistics, it would be easy to think that credit card addiction is widespread in our society. After all, when you see the average debt per card over $8,200, it is easy to see that credit cards can be a problem – but is it really an addiction? Credit cards can make buying painless When I struggled with credit card debt, it seemed so painless to swipe that little piece of plastic. It is almost a mindless act, as virtually most retailers have card readers. ... read more »

Study: 2 in 3 Millennials Hate Credit Cards

Study: 2 in 3 Millennials Hate Credit Cards

Credit cards may be one of the best ways to build credit, but a new survey commissioned by Bankrate found the majority of one generation wants nothing to do with them. And it's not the generation you might expect. A massive 63 percent of millennials — yes, those aged 18 to 29 who are typically known for bad credit card habits — currently do not have a credit card, according to the survey. A meager 23 percent of millennials have one credit card. Only 6 percent of millennials... read more »

4 Ways Credit Card Companies Hack Your Brain

4 Ways Credit Card Companies Hack Your Brain

Think back to the last time you were offered a credit card. What do you remember most: the deals and rewards the card offered or it's APR, fees and fine details? Credit card companies make billions of dollars a year through clever accounting and finance technique, but the vulnerability of the human brain may be their most valuable tool. These tricks come from theories grounded in behavioral finance, a study that blends psychology and consumer finance. We spoke with some of the... read more »