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Charge cards can affect your credit scores in many ways, but they generally won’t impact your credit utilization rates. Credit utilization rates depend on the balances and credit limits on your revolving accounts. Unlike credit cards, which allow you to make a minimum monthly payment and revolve the rest of your balance, you generally have […]
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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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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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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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Many consumers may remember receiving their first credit card, either years ago in a plain envelope, or months ago from a smartphone app. Still other consumers may remember their newest card, maybe because it’s the credit card they’re now using exclusively to maximize cash back rewards or airline miles. But for most consumers, there’s also
What Is the Average Number of Credit Cards? Read More »
Moving can be an expensive endeavor, costing thousands of dollars in some instances. Depending on your situation, you may need to shell out for movers, new furniture, travel expenses and more. Before you start planning your move, consider how getting a new credit card could help you save money or earn more rewards on your
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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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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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Getting divorced can be challenging in just about every way possible—especially financially. One complication divorcing couples may not be prepared for is how their state treats dividing assets and debts. In most states, you’re generally only responsible for credit card debt in your name when you end a marriage. However, you may be responsible for
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Gift cards are simple, versatile and easy to buy. If you’re planning to buy a gift card with a credit card, you may be wondering whether you’re even allowed. Yes, you can buy gift cards with a credit card, but you may want to check with your card issuer before doing so. There may be
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Credit card issuers will generally ask for your income when you apply for a new credit card, and occasionally ask you to update your income. They use this information to help determine your card’s credit limit, decide whether to change your limit and to comply with federal regulations. Why Credit Card Issuers Ask Your Income
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If you want to pay your mortgage with a credit card directly, you may have to jump through a few hoops. While mortgage loan servicers don’t accept credit cards directly, there are third-party services and workarounds you may be able to use. Even when it is possible, however, the fees and high interest rates may
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A routing number is a unique identification code banks and credit unions use to transfer money. When you wire money, set up direct deposits or make electronic fund transfers, your bank uses your routing number to ensure the funds are sent to the right place. However, credit cards don’t have routing numbers simply because they
Do Credit Cards Have Routing Numbers? Read More »
To pay off high-interest credit cards, avoid adding to your debt, explore strategies to lower your interest rates, direct more money to payments and get expert help if you need it. If you’re struggling with credit card debt, you’re not alone. Credit card debt balances among U.S. consumers grew 10% between in 2023, according to
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Wondering when your credit card payment will be posted? Typically, a credit card payment takes one to five business days to post to your account. Fortunately, your payment may be considered on time even if it hasn’t been posted. How Long It Takes for a Credit Card Payment to Post It generally takes one to
How Long Does It Take for My Credit Card Payment to Post? Read More »
If you’ve been aboard a flight recently, you may have spotted a flight attendant strolling down the aisle clutching glossy brochures that market an airline-branded credit card. Meanwhile, a voice over the PA system goes over the offer’s highlights. As an enticement, the in-flight offer might, for example, supply 65,000 frequent flier miles as a
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Here’s the latest personal finance news, how it may impact your financial plan and what you can do to maintain your financial well-being. Federal Reserve Expects a Bumpy Path Toward Its Inflation Goal The inflation rate has dropped significantly since it peaked in June 2022, but it still remains high. In October, the Bureau of
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Here’s the latest personal finance news, how it may impact your financial plan and what you can do to maintain your financial well-being. Interest Rates Are Expected to Stay High In its September meeting, the Federal Reserve Open Market Committee (FOMC) declined to hike its interest rate again. But in August, the core inflation rate,
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September, or August in some parts of the country, is often considered one of the busiest spending months of the year. According to the National Retail Federation (NRF), a trade organization that predicts spending at department stores and other retail outlets, back-to-school spending will produce an additional $130 billion in sales in 2023, a new
Does Back-to-School Spending Increase Credit Card Balances? Read More »
The minimum payment due on your credit card can go up if your balance is growing or if you are late with a payment. Those are two common reasons, but there are others. Because your minimum payment is based on your interest rate and current balance, when those increase, whether from additional purchases or from
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