Lessons | Credit Card Topics

Westside Food Bank Uses Donations to Deliver Fresh, Nutritious Food to Underprivileged Communities

By: Adam West, 5/9/2022

In a Nutshell: Westside Food Bank provides nearly 5 million pounds of food annually to communities in need across Western Los Angeles County. Much of that food comes from wholesale purchases, which enable the food bank to acquire fresh, nutritious food at a low cost. Westside Food Bank aims to provide nutritionally balanced staples that meet the dietary restrictions and preferences of the people it serves. It also salvages food that’s edible but not cosmetically fit for retail,... read more »

Credit Cards For Kids & Ways to Help Them Build Credit

By: Erica Sandberg, 3/28/2022

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 »

What Are the Different FICO Scores Used in Lending Decisions?

By: John Ulzheimer, 3/15/2022

In 1989, a credit score with the brand-name Beacon was made commercially available by Equifax in partnership with a little-known company based in San Rafael, California, called Fair, Isaac and Company. Thirty-plus years, a name change, and hundreds of billions of scores later, checking your FICO (the acronym for the Fair Isaac Corporation) credit scores remains standard operating procedure by thousands of lenders in the United States. One small but important point has to be made... read more »

What Is a Schumer Box?

By: John Ulzheimer, 2/17/2022

Credit card agreements contain a lot of information that can be challenging for the average person to digest. In fact, did you even read all of that fine print when you applied for and opened your last credit card account? The same may be true about the details in your monthly credit card statements. Most consumers don't take the time to read through pages upon pages of fine print. And even those who do may not fully understand what it is they are reading. One such... read more »

The Greater Boston Food Bank Uses Donations to Help Alleviate Food Insecurity

By: Adam West, 2/17/2022

In a Nutshell: Food insecurity can be the root cause of social inequality and unrealized promise. Without consistent access to nutritious food, people often struggle to survive, much less achieve their full potential. In Eastern Massachusetts, The Greater Boston Food Bank (GBFB) works with hundreds of partners to distribute millions of meals to community members each year. The nonprofit strives to fill systemic gaps in the food distribution system, and it relies on donations to feed... read more »

Card Rewards Donations Help Water Rangers Collect Data and Insights on Water Bodies Around the World

By: Adam West, 1/24/2022

In a Nutshell: Water Rangers is a Canadian-based nonprofit that empowers communities to collect data on the world’s water bodies. To accomplish that, the organization designs and provides water testing kits and an online open data platform with information for scientists and the public. Water Rangers’ mission is to help people collect baseline water quality data for their local water bodies so that it’s easier to identify changes in water health status and respond to pollution... read more »

When Do Credit Cards Get Reported to the Credit Bureaus?

By: John Ulzheimer, 12/16/2021

Your credit reports are not static objects frozen in time. Instead, the information on credit reports tends to change often. In fact, your credit reports change anytime a creditor sends an update about one of your accounts to one of the credit bureaus. This tends to occur multiple times each month, depending on how many open and active accounts you currently maintain. If you're in the habit of actively checking your credit reports or you have signed up for a service that monitors... read more »

Card Rewards Donations Help The National Ovarian Cancer Coalition Support Women on Their Cancer Care Journey

By: Adam West, 12/8/2021

In a Nutshell: Because no real screening tests exist for ovarian cancer, many women remain undiagnosed and unaware of the early signs of the disease. The National Ovarian Cancer Coalition takes on this fact by helping educate the public on the baselines of the disease and providing support for women diagnosed with ovarian cancer. Through donations, including card rewards, NOCC finds the necessary funding to advance its mission and help save lives. Receiving a cancer diagnosis... read more »

Which Credit Card Should I Pay Off First?

By: Marcie Geffner, 12/8/2021

Unwanted credit card debt can feel overwhelming. Having a plan to pay it off and knowing which card you should pay off first can help you feel more in control of your finances and improve your financial situation. The first step is to make a list of your cards with your current balances and the annual percentage rates (APRs) you're currently paying. If you don't know your APRs, check your most recent monthly statements or contact your card companies for this information. You may be... read more »

Card Rewards Donations Can Help Support the Human Trafficking Legal Center’s Mission for Justice and Prevention

By: Jon McDonald, 11/1/2021

In a nutshell: Human trafficking is an ongoing but largely invisible problem in the United States. And even when survivors gain their freedom, they often lack the resources to rebuild their lives. The Human Trafficking Legal Center provides the support survivors need to seek restitution and reclaim the personal agency taken from them. It does so primarily by connecting them with pro bono legal representation to help them heal and move forward. Thanks to donations, including card... read more »

What Is the Best Starter Credit Card of 2022?

By: Eric Bank, 10/28/2021

Folks regularly ask us, “What is the best starter credit card?” These cards represent the means to build credit history, which is an important consideration for young people starting their work or academic careers and not-so-young folks who are reluctant to use any type of credit. That’s why we’ve assembled a list of our highest-rated cards that welcome new cardmembers who have little or no credit history. Read on to see which one works best for you. Cards... read more »

When Does Interest On a Credit Card Start?

By: Marcie Geffner, 10/20/2021

Interest charges for credit card purchases don't have to cost an arm and a leg — or even a finger or toe. With its relatively high interest rates, credit card debt can be among the most expensive debt you'll ever experience. But a few smart habits can set you up to never pay a penny of credit card interest, which can save you hundreds or thousands of dollars that you can reallocate to higher priorities, such as living expenses, savings, and investments. The first thing you need... read more »

14 Types of Lenders You Should Know About

By: Erica Sandberg, 10/18/2021

The United States has no shortage of available lenders. Some are financial institutions that offer many different products and services, while others are more narrow in scope. They may be for-profit, nonprofit, or even peer to peer. It is important to approach the best lender for your needs and credit rating when you want to borrow money. Thankfully, you have plenty of options from which to choose. Here are 14 types of lenders you should know about and why you would... read more »

Positive Coaching Alliance: Card Reward Donations Can Support Positive Youth Sports Experiences

By: Jon McDonald, 10/5/2021

In a Nutshell: Positive Coaching Alliance provides resources and guidance to youth athletic coaches. The resources are designed to help coaches and parents foster positive athletic environments where participants can have fun, build skills, and learn valuable life lessons. The organization offers an online series of self-paced courses, and it also delivers content through live workshops held in person or via Zoom. The educational materials are supported largely through charitable... read more »

When Were Credit Scores Invented?

By: John Ulzheimer, 9/29/2021

Credit scores are an important part of everyday financial life in America. Do you want to buy a house? Do you need to finance a new or used vehicle? Are you looking for a loan, credit card, or insurance coverage? If you answered “Yes” to any of these questions, it's almost certain that some business will use a credit score or several of your credit scores to evaluate whether it's a safe investment to work with you. That same business will also probably use a credit score to... read more »

Soldiers’ Angels: Card Rewards Donations Can Help Military Service Members, Veterans, and Families in Need

By: Jon McDonald, 9/15/2021

In a Nutshell: When Patti Patton-Bader began sending care packages to her son deployed in Iraq, she learned he was giving most of the supplies away to service members who weren't so lucky. That sparked her idea for Soldiers' Angels, a care package charity that has grown into a massive support network for military members. Active duty service members, veterans, and families can register on the Soldiers' Angels site and connect with volunteers and services in the U.S. and abroad. And... read more »

How to Read a Credit Card Agreement

By: Andrea Woroch, 9/1/2021

Credit cards can be hard to resist, thanks to enticing sign-up offers from free cash back to zero-percent interest for the first year on purchases to enough miles that could cover a couple of roundtrip tickets to an exotic destination. Some even extend a one-time discount off your store purchase or may provide a rebate when booking a hotel. Though all these rewards and promotions seem great on the surface, spending time to understand a credit card’s terms and conditions is more... read more »

Your Money Geek Takes On Pop Culture, Responsible Credit Use, and Smart Financial Living

By: Jon McDonald, 7/27/2021

In a Nutshell: Money gurus often point to the little things that affect a person’s budget. But while it's true that small daily indulgences — like the millennial penchant for avocado toast —can add up, Michael Dinich of Your Money Geek shows readers to look at the big picture, and not sweat the small stuff. That’s because a bad credit score can have such a broad negative impact that skipping brunch doesn't begin to make a dent. Readers of Dinich's popular blog can learn... read more »

6 Steps to Take After Graduating From Secured to Unsecured Credit

By: Erica Sandberg, 5/24/2021

A secured credit card can be a terrific option when your credit rating isn’t high enough to qualify for a traditional unsecured credit card. To get a secured card, you put down a cash deposit that acts as collateral, and the issuer provides you with a credit line equal to -- or perhaps even greater than -- your deposit. This deposit is kept in a separate custodial account. All parties come out ahead with these tools. The issuer assumes little risk in lending you money because, if... read more »

How Long Does It Take to Build a Credit Score?

By: John Ulzheimer, 5/19/2021

Credit scores are the go-to tool used by lenders to assess the risk of doing business with you. Good credit scores mean good financing deals. Poor credit scores mean less attractive offers and terms. And while many consumers focus, rightly, on building a credit history, it’s also important to focus on building a credit score at the same time. There’s no universal answer to the question, “How long does it take to build a credit score?” Instead, the time frame is going to be... read more »

What is a Credit Card Grace Period?

By: Andrea Woroch, 5/3/2021

Credit cards come with many pros and cons that can positively or negatively shape your financial situation. On one hand, credit cards provide many benefits, such as extra layers of purchase and fraud protection, and the ability to earn valuable rewards in the form of cash back, gift cards or even free flights and hotel stays. On the flip side, those who aren’t paying attention to what they’re charging can easily rack up a credit card balance that’s too high to pay off and end... read more »

Can My Card Issuer Change the Terms of My Account?

By: John Ulzheimer, 4/27/2021

In the United States, some 220 million consumers have a credit report with one or more of the credit reporting agencies. Of those 220 million, around 170 million consumers have one or more credit card accounts, according to the Consumer Financial Protection Bureau. These common financial tools can make your life easier in many ways: portable capacity, iron-clad fraud protection, rewards programs, credit building capabilities, the list of benefits just seems to go on and on. When... read more »

Ways to Make Money Using Credit Cards in 2022

By: Eric Bank, 3/29/2021

It’s amazing to discover how many ways you can make money using credit cards. We think of credit cards primarily as a convenient alternative to cash when we shop in stores, in apps, and online. But these nifty plastic rectangles can actually help you earn and save money without creating credit card debt, as long as you pay your full balance each billing cycle and only charge what you can afford. Earn a Signup Bonus Earn Cash Back Convert Points to Cash Plan Purchases... read more »

Disaster Avoidance Experts: Goal-Driven Resources and Training for Sound Credit and Business Planning

By: Adam West, 3/15/2021

In a Nutshell: According to the team at Disaster Avoidance Experts, the most successful credit and business planning strategies rely on goal setting and systematic analysis. However, that type of decision-making doesn't come naturally to many people or businesses. That’s why Disaster Avoidance Experts provides science-based training that empowers leaders to set emotions aside and focus on achieving the most optimal personal and business outcomes. When people want to improve their... read more »

Credit Card Issuers Holding You Hostage? Negotiation Tips from The Black Swan Group Can Pay Off

By: Adam West, 3/3/2021

In a Nutshell: The same skills professionals use to take the next step in their careers or make great deals can also help people negotiate better outcomes with credit card issuers, according to the team at The Black Swan Group. The group teaches clients how to negotiate successfully and has more than a decade of experience working with individuals and corporations. The Black Swan Group's proven methodology has helped thousands of negotiators enhance their skills and achieve their... read more »

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