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Credit Cards

Credit Cards

The dos, don’ts and what-ifs when choosing a credit card

Ahhhhh… the sweet smell of plastic. Especially when it’s a brand new credit card that’s about to give you the freedom to buy what you want, when you want.

But be careful!  Before choosing a credit card, make sure it will be working for you, not against you. Here are some DOs, DON’Ts and other things to consider when getting ready to make that decision.

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Credit Cards

What does the Costco transition from Amex to Citibank Visa mean to your FICO® Score?

I love shopping at Costco. In fact, I got an Amex Costco TrueEarnings Credit Card because I can use it to pay for purchases both in and outside of Costco while earning great rewards. In addition, it has no annual fee and serves as my Costco membership card. With the news of the transition from Amex to Citibank Visa, I can’t help but wonder what my options are and how the transition could affect my FICO® Score.

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Credit Cards, Financing & Loans

How student loan debt and credit card debt affect your credit differently

If you’ve been juggling a monthly student loan payment with a credit card balance, you might have reasonably wondered at some point how exactly all that debt is affecting your credit. Debt obviously plays a significant role in your credit picture—how much of it you have and how you repay it are two major factors that affect your FICO® Scores, the credit scores used by 90% of top lenders. But how different types of loans and debt contribute to your scores isn’t readily apparent. Let’s clear up some of that confusion: Here are a couple important differences between how student loan debt and credit card debt can affect your credit.

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Credit Cards

6 Tips to Maximize Credit Card Rewards

In the credit card world, there’s really no better feeling than earning rewards for your spending. Who doesn’t like getting a little bonus for purchasing everyday expenses with some plastic?

But lost in the excitement of air miles, cash back, and gift cards is the fact that getting the most out of your credit card rewards requires some extra know-how and a bit of work. Want to squeeze every last drop of value out of that rewards card? Here are some tips.

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Credit Cards

Should I Transfer My Credit Card Balance to Another Credit Card?

If you’ve been stuck on the credit card debt treadmill for a while, struggling to make anything more than the minimum monthly payments, you’re probably looking for a way out. Maybe at some point this brilliant idea occurred to you (maybe it was in the middle of the night and it came to you in a dream and you shot straight up like they do on TV and said it aloud): “I know what I’ll do! I’ll pay off my credit card with another credit card.”

Yes, you can use one credit card to pay off your balance on another — though it isn’t all that simple and comes with a few caveats.

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Credit Cards

How to Avoid Paying Credit Card Interest

It’s no mystery that credit card companies charge interest on outstanding balances. And most credit card users are at least nominally familiar with their credit card’s APR (annual percentage rate). You carry a balance, you get charged interest — simple enough.

Beyond that, things start getting a little murky. How is your APR determined? How do interest charges get calculated? And at what point does your balance start accruing interest charges anyway?

 

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