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Maxing out your credit card happens when your balance reaches your credit limit. Using your entire credit line can lead to financial and credit challenges. If you max out a credit card, aim to make a payment that brings you well under your credit limit. Acting quickly can help you minimize fees and protect your […]
What Happens if You Max Out a Credit Card? Read More »
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
What Is the Best Age to Get a Credit Card? Read More »
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
Should I Pay My Credit Card Bill Early? Read More »
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
What Is a Cash Advance Fee on a Credit Card? Read More »
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
Does the 15/3 Credit Card Hack Work? Read More »
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.
When Should I Pay My Credit Card Bill? Read More »
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.
What Happens if I Stop Paying My Credit Cards? Read More »
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
What Happens When You Lock Your Credit Card? Read More »
Jae Bratton writes for NerdWallet. Email: jbratton@nerdwallet.com. The article 3 Steps to Take After Transferring a Balance to a New Credit Card originally appeared on NerdWallet.
3 Steps to Take After Transferring a Balance to a New Credit Card Read More »
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
Does Locking Your Credit Card Hurt Your Credit? Read More »
When your credit card gets declined, it can be frustrating or even embarrassing. If this happens to you or you think it might happen, follow these steps so you can once again use the card. 1. Try the Transaction Again You may be able to correct the issue of a declined credit card by trying
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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.
What’s the Minimum Age for an Authorized User? Read More »
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
How to Check Your Credit Card Application Status Read More »
Credit cards can be helpful financial tools that allow you to safely make purchases, earn rewards and build your credit. However, they also give you access to a line of credit that often has a high interest rate. People who tend to overspend or have compulsive shopping habits might save money by avoiding credit cards.
Are Credit Cards Bad? Read More »
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
4 Credit Card Hacks to Avoid Read More »
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
How to Get Your Credit Card’s Annual Fee Waived Read More »
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
What Does No Preset Spending Limit Mean for a Credit Card? Read More »
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
How Do I Check My Credit Card Benefits? Read More »
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
What Is a Convenience Fee on a Credit Card? Read More »
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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