The numbers are shocking: 50% of American card holders don’t realize they’re paying a penalty interest rate on their balance. If they do know about the inflated rate, they don’t understand why it has been applied to their balance. This is only one of the discouraging statistics turned out by the Center for Responsible Lending. […]

Life is made up of many stages, and those stages actually help us determine how best to use our credit cards. Don’t believe me? Experts say that parents should monitor the credit habits of their teens and college-aged children. Even into the 20’s and 30’s, credit card use should be kept to a minimum. Here’s […]

You may have considered hiring a debt settlement company to help you lower your debt. The offers sound enticing: “Lower your debt by 60%.” There’s a lot debt settlement companies don’t tell you, like the how settling your debts will hurt your credit and make it harder for you to get credit cards and loan […]

Transferring a high interest credit card balance to one with a better interest rate and/or better overall terms and features is usually a good way to reduce the amount of money you pay back on your existing debt. Depending on the “better” credit card you select, you may also be able to benefit […]

Every credit card on the market has advantages and disadvantages to using it. There are hundreds of different credit cards offered, but we will explore three different types of cards in this article and help point out who benefits the most from each type of card, as well as the potential advantages and disadvantages […]

After you’re done making your Christmas list and checking it twice, you have to decide how to fund for holiday spending. Here are some tips for using your credit card this holiday season.
Naughty: Open up new credit cards to make purchases.
Nice: If you must use credit, use the credit cards you have. Inquiries that are […]

The Scam:
You receive a phone call (or email) letting you know that you’re entitled to thousands of dollars as part a credit card class-action lawsuit settlement. But, to receive your part of the settlement, you first have to pay taxes or legal fees on your portion of the money. After you mail or wire […]

We’ve all heard the admonishments: “Never buy anything with credit; you’re just spending money you don’t have.” “Credit card debt is bad debt and should be avoided.” “The credit industry is one big money-making scam. Always pay with cash.” While this advice is good-intentioned, it’s not actually very good.
There is some truth to the statements […]

It seems like every sector is having problems these days, from the factory workers to the CEOs and even the national government. Business is plummeting while unemployment soars. But there’s one industry that’s weathering the recession just fine: debt collection. If you’ve gotten behind on your credit card payments and started screening your phone calls, […]

Imagine eagerly standing in line to make a purchase, then having the embarrasing encounter of getting your credit card declined. As the cashier hands back your card, you wonder why your card could have been declined - you paid your balance on time, the last you knew the card was still active. So you step […]