Credit card payments may be convenient, but could cost you more in 2013. In the past, retailers have had to deal with fees from their credit card companies that were included when they priced their merchandise. Some retailers even went as far as charging a minimum purchase amount for credit card transactions just to make sure that they made a profit. Now it’s not just the credit card companies that can charge fees. Your retailer may decide to tack on an extra 4 percent to your purchase if you choose to use a credit card. (more…)
Credit & Debit Cards
Avoid an Extra Fee When You Check Out
Credit Cards Actually Paying You!
The Consumer Financial Protection Bureau (CFPB) has settled a claim with three major credit card issuers that leave them owing an estimated $435 million in refunds. Yep, that’s happening. (more…)
Credit Card Tips for Travelers
If you are going on vacation then you may be busy planning your itinerary, but have you planned your travel expenses as well? It is always best to take your credit cards along, instead of big bundles of cash or troublesome traveler’s cheques. You just need to prepare and follow these guidelines for safe usage of your credit cards. (more…)
Lending Giant AmEx to Refund $85 Million
Aggressive oversight for credit card companies is tarnishing even sterling brands like American Express (AmEx). In the past, credit card companies got away with slightly shady practices, but no more. The Consumer Financial Protection Bureau (CFPB) caught AmEx charging illegal late fees and promising money rewards that weren’t available. The investigation looked into financial practices from 2003 to 2012 of AmEx subsidiaries and discovered enough to slap them with a $27.5 million penalty. Also, due to deceptive practices, the lending giant is going to have to refund $85 million to its customers.
Rock That Debit Card!
In this age of frugality, consumers are leaning on debit cards more than credit cards. However, not all debit cards are alike. Some come with consumer protections and fees, and others do not. Understanding the terms and policies of your bank or lender, you can use them to help you manage your finances better by keeping you from going into debt. However, they do carry some risks and you need to be aware how to limit those risks. (more…)
Nine Exercises to Get Rid of Credit Card Debt
Credit card debt may be revolving debt, but you don’t want it revolving around you for the rest of your life. The only way to get out of debt quickly is to pay more than the minimum balance. It’s really easy to look at your budget and think it can’t get any lighter than it is. But it can and will. How? The same ways we all get stronger and shed extra fat: Exercise. This a workout for your budget, and it WILL work as long as you do it. Let’s get started. (more…)
Credit Card Usage Drops for College Students
The CARD Act of 2009 put significant barriers up for lenders who wanted to market college students with credit card offers. Now, the bill requires that students show enough income to repay the debt before they can obtain a card. In many cases, they also need a co-sponsor to get a credit card. Due to these changes, the percentage of college students with credit cards has decreased steadily from 42 percent in 2010 to just 35 percent in 2012. (more…)
Getting Your First Credit Card
Have you turned 18? It’s time to celebrate as you are a now an adult. You can vote, sign legal documents and get a credit card. It may seem intimidating; from deciding which company to use versus who will give you the best deal. Don’t worry, we are here to help. You will get different credit card offers in your mailbox, Internet, and shopping stores. But don’t get swayed away by the eye catching offers; you should really think if the card is right for you or not. Credit cards can be great, but you have to use them wisely. If you use a credit card carelessly, it can get you under debts which will act as a scar on your credit history. Before choosing a credit card, check out these guidelines. (more…)
Healthy Credit Card Habits
Many people stay away from credit cards because of the various financial traps they could fall into. Others avoid using them because of the temptation of spending more than they can’t afford to pay back. However, credit cards are very useful instruments, if used carefully. (more…)
The Perks that Come With Debt
Credit Card (Photo credit: 401K)
The idea of carrying debt may be under fire due to the recession, but it does have some perks. For one, if you avoid all forms of debt, you fail to start a credit history that will affect your ability to borrow later on. (more…)
