It's important to have credit card education before applying for credit or making any other major financial decision. In our education center we well inform you about any aspect of credit card education. We publish new credit card articles weekly so be sure to check back often.
- New Credit Card Laws and Your Rights
Recent changes in US credit law are set to loosen the stranglehold many credit card companies have over their customers and wrestle some of the power back in favour of the consumer. The law (passed on the 20th August) is the first step in what is being seen as the biggest overhaul of the credit card industry in two decades.
- Alternative Credit Card Types
Believe it or not, there are a variety of credit cards and alternatives to the traditional credit card. Understanding the various options in alternative credit card types is essential to selecting an appropriate card for your particular needs.
- Understanding Credit Card Terms (Glossary)
Understanding credit card terms is a good way to stay one step ahead. If you can read a credit card application and understand the terms of agreement on your card – you'll be in better shape to use your cards responsibly and avoid falling into the credit card debt trap. Here's a glossary of the most common credit card terms to help you with your credit card education:
- How Much Your Credit Cards Are Really Costing You?
Since the average American family has several thousand dollars of credit card balances to deal with, it's probably a good idea to have an idea of how much those credit cards are really costing you. At first glance, you might think they're costing you $40 a month, or whatever your minimum payment is – but the reality is, credit cards cost you a whole lot more than you actually spend using them if you carry a balance from one month to the next.
- A Plain English Guide to Credit Card Reform
Do the credit reform rules have you confused? Here's a quick guide to the coming changes and what they will mean for you.
- Credit Card Protection Plans: Valuable or Waste of Money?
In previous years, whenever someone was approved for a credit card they would be asked to purchase “credit insurance”. Most people declined the coverage. These days, it has been re-packaged and labeled a credit card protection plan. Are they worth the extra money each month or is it just another way for credit card companies to make money off cardholders?
- Why Credit Card Rates are Rising
Consumers have been seething over the latest rate and fee increases by credit card companies. And it appears that it is not so much over the fact that there are increases, but the fact that communication about these changes has been slow in coming which has left card holders in the dark. There are stories out there that prove this phenomenon.
- How to Minimize Corporate Credit Card Abuse
Corporate credit cards make it easy for employees to charge their travel and meal expenses. But how can you ensure they're not being used for personal fun? This article tells you how to prevent corporate credit card abuse by employees.
- Not Everyone Included in New Credit Card Laws of 2010
Consumers are looking forward to the implementation of the July 1, 2010 credit card rules which are designed to prevent some of the nastier tactics of credit card companies. Because the credit card industry has such a long time to “prepare” for the new laws, many consumers in the meantime are getting slammed with higher interest rates, changes in due dates and decreased credit limits as the credit card issuers look to reduce their risks and prepare for the changes.
- How to Manage Multiple Credit Cards
If you're like the “average American”, chances are you've got as many credit cards as you have fingers! Most American's have between five and ten credit cards. Credit cards have been considered necessary for many years now, particularly for people who like to make purchases by telephone or the internet, and people who like to travel. Have you ever tried to reserve a restaurant, hotel, or book a flight without a credit card? It's downright impossible!
- Should You Consider Credit Insurance for Your Credit Cards?
One of the options available for those with credit cards is credit insurance. The unfortunate thing is that some cardholders may already be paying for credit insurance and might be totally unaware of its existence on their account. This is unfortunate because credit card insurance can cost between $20.00 and $30.00 a month. It would be wise to examine your monthly statement to make sure that you know whether or not you are paying for credit insurance on your credit cards.
- Credit Cards As Overdraft Protection
A large percentage of the population is currently struggling to keep up with their debt repayments. To err is human, though, and it is not uncommon for someone to make a simple mistake that ends up costing big bucks! You already know that making a payment a day or two late will result in a late fee – often one that is higher than the minimum amount owed on a credit card. If you make a late payment or skip a payment all together, chances are you will also experience an interest rate increase on that account – as well as any other credit card account you have (under the Universal Default clause).
- How to Talk to Your Kids about Credit Cards
Schools don't do it. The government and banks don't do it. It's up to you to teach your kids about credit cards. Here are some tips to help you get started.
- Live Thrifty Without Cutting Up Your Credit Cards
When times get tough, American stop charging. But you don't need to give up your credit cards in order to live a frugal life. Here are some tips for being a thrifty card holder.
- Taking Responsibility For Your Credit Cards
The Credit Card Industry is taking a hard hit right now. With the Housing crisis in full swing and the economy questionable to say the least, the burden of financial insecurity is common place. There are those who are managing to survive the onslaught of foreclosure and delinquent credit issues. To those, I tip my hat. For many however, the situation has gone from bad to worse. With less money in their pockets they have turned to their credit cards for coverage. Although many credit card companies have lowered their interest rates of late, there is little doubt that they will once again rise. After all, credit card companies have to make money as well. We have built our financial society around profit. Everyone, the credit card companies and the customers, must take responsibility for credit card debt.
- Credit Etiquette for First Time Card Holders
Getting your first credit card can be exciting. Paying off the debt after you've overspent? Not so much. Here's a quick and easy guide to using credit cards responsibly.
- Understanding Frozen Credit
Credit freezes are often confused with fraud alerts, but they are really nothing similar. A fraud alert is when new creditors are alerted that you may have been the victim of fraud, and the creditor is required to take additional verification steps that prove they should be accessing your credit and opening an account for you before they can issue the credit. Fraud alerts also remove you from receiving prescreened offers for insurance and credit.
- The Credit Card Industry Could Face Tough Changes
If Congress has its way, credit card companies might be changing the way they do business.
- 21 Credit Card Hacks : The Credit Card Holders Survival Guide
Credit cards can be your best friend or worst enemy; it all depends on how you use them. Getting the most out of your credit card is often counter-intuitive or requires you to be aware of features that aren’t regularly advertised. This list of credit card hacks will provide you with the info you need to make the most of your credit cards.
- The History of Credit Cards
Credit cards might seem like a modern convenience, but they actually had their start many years ago. Enjoy this trip down memory lane!
- Why Credit Card Life and Disability Insurance is a Rip-off
Chances are, when you apply for a credit card you will be asked if you want to enroll in additional life and disability insurance. If you don’t choose to enroll, rest assured the credit card company will call you a few months down the road and try to get you again.
- The Pros and Cons of Having a Credit Card
Are you a credit card owner? If you are not, the thought may have crossed your mind. After all, you have likely received numerous credit card offers in the mail or you may have even been presented with credit card offers online. To determine if having a credit card is the best decision for you, you are advised to examine the pros and cons of having one. A few of the most influential pros and cons are outlined below for your convenience.
- How Credit Cards Work
You find something you absolutely have to have, slap down a piece of plastic and voilà – it’s yours! Life sure is good, isn’t it? But have you ever wondered what happens behind the scenes, from the time your credit card gets swiped (actually or virtually) until the time the purchase shows up on your credit card statement?
- Line of Credit or Loan?
When you need cash, is it better to obtain a line of credit or get a loan? The answer depends mainly upon your self discipline and what you plan on using the money for. If you want to make fixed payments over a specific period of time, then a traditional loan is your best option. If you prefer to have a line of credit that you can use whenever you need to as long as you have money available, then a line of credit is probably the route you want to take.
- Teaching Children about Credit Cards
It’s the 21st century, and most of the kids living in the United States are constantly watching their parents put a cute little plastic card into an automated teller machine and seeing the machine instantly spit out a wad of cash. It’s like magic! A machine that gives money whenever anybody wants it!
- What is a Home Equity Line of Credit?
As with regular types of mortgages on homes, the interest charged to the borrower of a home equity line of credit may be able to deduct a certain amount from their yearly federal taxes. Every situation is different, but it is a possibility. A certified public accountant should be able to tell any potential borrower if home equity lines of credit can be beneficial in terms of taxes.
- Understanding Credit Card Terms
Anyone who does not understand how a credit card works - including purchasing items with it, reading the monthly billing statements, and knowing the rules for payments - should not own a credit card. However, credit card terms and details on how to responsibly own a credit card are easy to learn.
- Making Sense Out of Your Credit Card Statement
Whether you are new to the world of credit cards, or a seasoned veteran, understanding the information in your credit card statement can be confusing. There is a lot of information packed onto a single page, and if you’ve never taken the time to review your statement in detail, it may be a good idea for you to do so.
- Purchase Protection
Most credit card companies provide purchase protection insurance for free, as an included benefit of owning their particular credit card. As competition among credit card companies is so fierce, creditors are attempting many different strategies in order to gain and retain loyal customers.
- Credit Card Usage Explained
How often have you seen someone going through their wallet searching for a credit card in the checkout line- and were shocked by the number of cards they had in their wallet? Credit cards can be used as a form of identification when applying for a major purchase, or when renting a car; and they can be used for convenient purchases that you won’t have to pay for until a month after you buy them