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Here’s what’s happening in the personal finance space this month, how it might impact you and what you can do about it. Credit Card Debt and Interest Rates Are at an All-Time High Bouncing back from a steep decline at the beginning of the pandemic, credit card debt has reached an all-time high, according to […]
The Latest Personal Finance News for March 2023 Read More »
If you’re not currently working, you can use your spouse’s or partner’s income on your credit application. This can help you get approved while still having a card in your own name. Here’s what to consider before doing so. Does My Spouse’s Income Count on My Credit Application? Your spouse’s income can count on your
Can I Use My Spouse’s Income for My Credit Card Application? Read More »
Your debt-to-credit ratio is the amount of credit you’re using on your credit cards relative to your credit limits at a given time. It’s an important factor in your credit scores, and lenders will usually consider it when they review your application for a loan or credit card. Understanding how your debt-to-credit ratio works and
What Is a Debt-to-Credit Ratio and Why Is It Important? Read More »
With literally thousands of options to choose between, picking a credit card can be a challenging prospect. Understanding which type of card you want, your spending habits and your credit can help you narrow down your list of choices to determine the right fit for you. What’s the Best Credit Card to Get? While some
What Credit Card Should I Get? Read More »
A higher credit limit can give you more buying power and help your credit score by lowering your credit utilization ratio. Many credit card issuers track your account usage and creditworthiness to determine when to automatically increase your credit limit. But you can also proactively request a credit limit increase whenever you want a higher
When’s a Good Time to Request a Credit Limit Increase? Read More »
You have a credit card in your wallet for a retailer you frequent, and you see on the news that they’re going out of business. You might wonder if it’s your lucky day, with your sizable credit card balance disappearing along with the store. While this would be a nice treat for the cardholders, the
What Happens to My Store Credit Card if the Store Closes? Read More »
Buy now, pay later (BNPL) services let you pay for purchases in four bi-weekly installments, but there’s usually a limit to how much you can spend. To increase your spending power, you may be able to open several buy now, pay later accounts among different providers—but that doesn’t mean you should. Juggling payment plans for
Can You Have Multiple BNPL Accounts at Once? Read More »
While selling off investments to pay down credit card debt may seem like a no-brainer, there are some potential consequences to consider first, particularly if you’re thinking about using funds you’re earmarking for retirement. Here’s what to know about how selling investments to pay down debt can impact your financial plan and other options to
Should I Sell Investments to Pay Off Credit Card Debt? Read More »
As rising interest rates push credit card annual percentage rates (APRs) higher, carrying a balance on your credit cards is getting more expensive. Whether you’re dealing with high-interest credit card debt or planning to make a big purchase, a credit card with an introductory 0% APR can help. With an intro 0% APR credit card,
How Do Intro 0% APR Credit Cards Work? Read More »
It’s always ideal to discuss your finances and debt situation with your spouse before tying the knot. If you didn’t do this, it’s important to have a postnuptial conversation about money matters, especially if you’ve been secretly struggling with high credit card debt. Whether you entered the marriage with debt or quietly accrued it after
How to Talk to Your Spouse About High Credit Card Debt Read More »
During the holiday season, when you’re shopping for multiple friends and family members in a short period of time, leveraging the right credit card can help you get more out of your spending and save money on interest. If you’re considering opening a new credit card for the holidays, know that you have options. Retail
5 Things to Know About Retail Cards This Holiday Season Read More »
While most credit card applications ask for your Social Security number, there are a few that will allow you to apply for a credit card even if you don’t have a Social Security number. However, you will need to be able to verify your identity in a way that complies with their requirements. Get an
How to Apply for a Credit Card Without a Social Security Number Read More »
If your fridge is running hot or your coffee maker no longer percolates, it can be a relief to know your manufacturer’s warranty will cover the cost of repairs or replacement. But, alas, your household appliances and other products sometimes break after the original warranty expires. That’s when your credit card’s extended warranty can come
How Do Credit Card Extended Warranties Work? Read More »
You can pay your credit card in cash when necessary. For some individuals and situations, there may be advantages or disadvantages to paying in cash. Here’s how to pay in cash and if it’s the right move for you. How to Pay Your Credit Card in Cash If you want to pay your credit card
Can I Pay My Credit Card Bill With Cash? Read More »
Using a credit card effectively is one of the best ways to build your credit history and achieve a higher credit score. Done right, using your credit card isn’t just a way to conveniently pay for things you need, it’s also an avenue to increasing your creditworthiness and unlocking a range of other affordable borrowing
6 Ways to Build Good Credit With Your First Credit Card Read More »
If you stop using your credit card for new purchases, your card issuer can close or curb your credit line and impact your credit score. Your credit card may be closed or restricted for inactivity, both of which can hurt your credit score. What to Expect When You Don’t Use a Credit Card You can
What Happens if I Don’t Use My Credit Card? Read More »
If you return an item and are waiting on your refund, you’ll still need to pay your credit card bill in full to avoid paying interest charges or a late fee. While you might know the money is coming, it could take days or weeks for the merchant to process your return and refund. In
Should I Pay Off My Credit Card if I Have a Pending Return? Read More »
It can be tempting to use your credit card when unexpected expenses put a strain on your wallet. However, you should avoid using a credit card to cover costs when faced with a financial emergency. If you use your card and can’t pay off the expense quickly, you could end up paying expensive interest charges
Should I Use a Credit Card as My Emergency Fund? Read More »
Younger Americans are racking up credit card debt faster than older generations. In the time since the U.S. economy came to a pandemic-induced halt in the spring of 2020, their credit card debt has grown more on average, while older generations have seen reductions in average credit card debt balances, according to Experian. To better
How Credit Card Usage Differs by Generation Read More »
Inflation is when the prices for goods and services gradually rise, which in turn means your money won’t go as far to cover your expenses. Like most Americans in 2022, you’ve likely felt the sting of inflation when paying for gas, groceries and other goods and services. And if you use credit cards to make
How Does Inflation Impact My Credit Card Debt? Read More »