Credit Card Basics

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What Is the Best Age to Get a Credit Card?

What Is the Best Age to Get a Credit Card?

If you’re trying to decide whether now is the right time to get a credit card of your own, there are several things to think about before you do. You must be old enough (usually 18), meet the issuer’s credit requirements, earn enough to pay your bill every month and have the money management skills […]

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Should I Pay My Credit Card Bill Early?

Should I Pay My Credit Card Bill Early?

Paying your credit card bill late can result in late fees and a higher interest rate. And if your payment is more than 30 days late, it could have negative consequences to your credit. But what about paying your credit card bill early? For most, paying your credit card bill by its due date is

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What Is a Cash Advance Fee on a Credit Card?

What Is a Cash Advance Fee on a Credit Card?

Credit card companies charge a cash advance fee when you use your card’s line of credit to get access to cash. Because card issuers tack on fees and high interest rates to these transactions, cash advances are an expensive way to get extra cash. Here’s what you need to know about cash advances, including when

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Does the 15/3 Credit Card Hack Work?

Does the 15/3 Credit Card Hack Work?

You can find great, free financial advice online. But sometimes, the so-called hacks and tricks that people share on social media aren’t true. That’s the case with the 15/3 rule or hack, which got popular on FinToK—financial TikTok—before spreading to other platforms. What Is the 15/3 Rule? The 15/3 rule or hack has a few

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When Should I Pay My Credit Card Bill?

When Should I Pay My Credit Card Bill?

Paying your credit card bill on time eliminates the negative consequences of late payments, such as fees and dings to your credit. But sometimes, making a payment early instead of waiting for the due date could be a better option. Here’s what you need to know about timing your payments to receive the maximum benefit.

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What Happens if I Stop Paying My Credit Cards?

What Happens if I Stop Paying My Credit Cards?

If you stop paying one of your credit card bills, the issuer may charge you fees, increase your interest rate and report the late payments to the credit bureaus. You may also eventually find yourself the target of debt collection agencies or a lawsuit, which could lead to your wages or bank account being garnished.

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What Happens When You Lock Your Credit Card?

What Happens When You Lock Your Credit Card?

Locking your credit card, an option available from many major card issuers, prevents approval of new transactions and cash advances without interfering with recurring automatic payments assigned to the card. It’s a good idea when you’ve misplaced your card but think you’ll retrieve it. Here’s what to know about credit card locks. What Is Card

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Does Locking Your Credit Card Hurt Your Credit?

Does Locking Your Credit Card Hurt Your Credit?

Locking your credit card prevents you or anyone else from using it. This feature could come in handy if your card is misplaced or stolen and you want to avoid unauthorized charges. You could also lock your credit card to mitigate the temptation to use the card for impulse purchases. Locking your credit card won’t

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What’s the Minimum Age for an Authorized User?

What’s the Minimum Age for an Authorized User?

Teaching your children smart money skills to prepare them for the decisions they’ll make as adults is one of the greatest gifts you can give them. From budgeting and saving to investing and understanding debt, these lessons can equip your young adult with the essential knowledge they need to navigate their finances in the future.

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How to Check Your Credit Card Application Status

How to Check Your Credit Card Application Status

Have you recently applied for a new credit card? It’s not always easy to be patient when you’re eager to find out if your application has been approved. Fortunately, you can usually check the status of your credit card application by calling the issuer or by visiting their website. Here’s everything you need to know

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4 Credit Card Hacks to Avoid

4 Credit Card Hacks to Avoid

There’s no shortage of advice on how to get the most out of credit card rewards programs or quickly increase your credit scores. However, many of these credit card hacks can backfire. You might wind up losing your rewards, paying fees or interest, hurting your credit or even losing your credit card altogether. Best to

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How to Get Your Credit Card’s Annual Fee Waived

How to Get Your Credit Card’s Annual Fee Waived

Credit cards with annual fees may offer high rewards rates and enticing cardholder benefits. And some cardholders find the annual fee is worth paying for the added perks. However, if you haven’t used the card as much as you planned, or you’re looking for some extra savings, you can try to get your credit card’s

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What Does No Preset Spending Limit Mean for a Credit Card?

What Does No Preset Spending Limit Mean for a Credit Card?

Credit cards with no preset spending limit offer flexible spending limits that adjust based on your creditworthiness, financial history and other factors. This flexibility allows you to access increased buying power without having to request a credit limit increase. Understanding how a no preset spending limit credit card works can help you determine whether it’s

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How Do I Check My Credit Card Benefits?

How Do I Check My Credit Card Benefits?

Credit cards offer a variety of benefits that can help you save money, get out of a bind or both. To get the most out of your credit card, it’s important to fully understand the benefits it offers. Here’s how. Understanding Your Credit Card Benefits Always read the fine print in your credit card agreement

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What Is a Convenience Fee on a Credit Card?

What Is a Convenience Fee on a Credit Card?

Merchants may charge a convenience fee when you pay with a nonstandard payment option, such as a credit card, or use a certain payment channel, such as your phone. Merchants may charge a convenience fee to discourage the use of credit cards, which are often more expensive to accept than other payment methods. While the

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4 Alternatives to Credit Card Cash Advances

4 Alternatives to Credit Card Cash Advances

A cash advance can provide convenient access to money when you’re in a financial rough spot. However, this option isn’t without its drawbacks, such as an interest rate substantially higher than your card’s typical rate and a cash advance fee, typically 3% to 5% of the borrowed amount. Additionally, many card issuers begin charging interest

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How Does Credit Card Lounge Access Work?

How Does Credit Card Lounge Access Work?

Airport lounges offer an opportunity to relax away from the crowd while you wait for your flight. You don’t have to pay for an expensive membership or earn elite frequent flier status to access airport lounges. With credit card lounge access, you can access various airport lounges in airports around the world when you have

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