Credit Card Tips

Transfer your balance to a lower interest credit card, keep card interest rates low, etc...



Jan 2010
20

Save Money By Using Your Credit Wisely

by debbiedragon
Posted In:  credit cards


A few years ago, using credit was as natural as breathing for many consumers. This was during a period when consumers were reaping the benefits of a very credit friendly environment. Everyone was issued credit regardless of their ability to repay the debt. This of course backfired for everyone involved from the lenders to the consumers issued credit. Today people are much more leery about using credit which is a good thing as using credit unwisely can wreak havoc on your financial future. Fortunately in these post recession days we are more informed and hopefully more knowledgeable about the proper way to use credit. Here we will review common credit card mistakes which can cost you big time in the long run.Read the rest...



Dec 2009
26

New Credit Card Laws Make it Easier to Save

by Jessica Bosari
Posted In:  credit cards

An integral part of saving money is keeping debt to a minimum. Yet, for most of us, that goal is one of the hardest financial tests we can face. According to the Nilson Report, the average American consumer with credit cards carried more than $10,000 in credit card debt. Large credit balances like this make in nearly impossible for consumers to save money and build a future.  

Speaking of the future, 2010 is nearly here and will be another opportunity for households to attack the credit problem anew.Read the rest...



Dec 2009
4

Credit Card Rates: Status of the Credit Card Act

by billeater
Posted In:  credit cards

The Credit Card Act of 2009, signed by President Obama, goes into effect in three stages:

  • Stage One: Became effective August 20th, 2009.
  • Stage Two: Effective February 22nd, 2010
  • Stage Three: Effective July 1st, 2010

Most of these changes will be extremely positive for consumers, drastically improving transparency of the rules, providing more notice for consumers, curtailing deceptive practices, and capping many types of rate increases and penalties.  However, the credit card companies aren't taking it all lying down, and have some plans of their own to counteract the loss of revenue that the Credit Card Act will bring. 

Here's our list, by stage, of what the Credit Card Act will do for you...and how the Credit Card Companies plan to fight back:Read the rest...



Nov 2009
3

Proceed With Caution After Opting Out Of Higher Credit Card Interest Rates

by debbiedragon
Posted In:  credit cards  debt reduction


In the span of just a few years consumers have dramatically changed how they manage their personal finances. Regrettably some of these changes came too late to avoid certain financial disasters, nevertheless consumers have options moving forward that reduce the chances of repeating the same mistakes. One of the biggest challenges facing individuals today is eliminating high interest credit card debt. In many cases the balances carried on credit cards have taken years to build and will take years to pay off.
 Read the rest...



Sep 2009
18

Credit Versus Debit- Which Offers Greater Rewards?

by debbiedragon
Posted In:  credit cards


There has been an increased awareness of the credit card versus debit card debate in recent months. This is not surprising as more consumers are making a conscious effort to spend less money and reduce debt. The credit card industry has been offering rewards programs for many years and in some cases these programs are very lucrative for individuals who manage their credit responsibly. As concerns increase over changes in the credit card industry more people are finding that credit card rewards programs may not be as beneficial as they were in recent years.

 Read the rest...



Sep 2009
10

How To Find A New Credit Card

by debbiedragon
Posted In:  credit cards


With everyones focus on the credit crisis, recession and the millions of people that are drowning in debt it is easy to forget there is an entire portion of the population that has managed their credit cards responsibly for years. Sadly responsible credit card management has been rewarded by account holders seeing reduced credit limits, increased fees and less favorable terms.
 This was not entirely unexpected as credit card companies more or less promised to make changes when the new credit card reform was passed. Nevertheless the changes affecting the accounts of credit card holders who have never missed a payment or otherwise defaulted on their agreement is enough to make anyone frustrated. Fortunately there is something you can do if you are unhappy with the way your credit card company is treating you and that is to look for a new credit card. Here are a few tips to help consumers who are in the market for a better credit card.
 Read the rest...



Jul 2009
3

The Best Kind of Credit Cards

by MikeV
Posted In:  credit cards

A lot of people have multiple credit cards - including most of you that are reading this article. Truthfully, it has been rather easy to get credit cards in the past, so you will have some credit cards that are better than others. You know which of you cards have the higher interest rates and which ones are great. This means that some are costing you more than others.Read the rest...



May 2009
16

What does your Credit Card company know, and When did they Know it?

by micharch
Posted In:  credit cards

I found this NYT article very interesting, and scary. If you use your credit card as often as I do, I suppose that they would know quite a bit about you. For example, this week I received a letter from Discover Card (which I often use).  The letter advised me that DC was extending their 1% cash back offer to 2% for purchases made at military exchanges and commissaries between Memorial Day and Labor day for me.
 Read the rest...



Apr 2009
22

What to Do about Those High Interest Credit Cards

by MikeV
Posted In:  credit cards

Credit cards have recently gone up in terms of the interest rates on them. Recent news, however, as reported on the IndexCreditCards.com Web site, show that they are now higher than ever. The overall credit card rate, according to the Web site, says that it is now at 14.17%. This is, of course, more than what thinking people want to pay, and there is a way for you to avoid it.Read the rest...



Jan 2009
17

Credit card companies find a new way to hurt your credit score...READ THIS!

by billeater
Posted In:  credit cards

Oh boy.  Despite the new federal credit card regulations that are supposed to increase protections for consumers, it appears that the credit cards companies are still up to some of their old tricks.   The new laws curtail practices like intentionally delayed late payment notices, double-billing cycles,raising interest rates on one card because of a late payment on a different card, etc.

Apparently in preparation for these new laws, which go into effect on July 1st, 2010, the credit card companies are aggressively closing accounts that aren't used often, and they are also reducing balances on existing cards at an alarming rate.   At first, that doesn't sound so ominous, but read on for why this will hurt consumers, and how you can protect yourself.Read the rest...

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