How Can I Lower My Credit Card Interest Rate?

Many consumers are riddled with credit card debt thanks in part to APR that is through the roof, making it very difficult to pay down debts and get back in the black. So you may ask yourself, “How can I lower my credit card interest rate?” Credit card issuers aren’t in the business of losing … Continue reading “How Can I Lower My Credit Card Interest Rate?”

Watch Out for Negative Payment Hierarchy

Let’s get one thing straight. Credit card issuers aren’t your friends. They are your business partners, and they’re in business to make money by lending you money. In fact, most credit card issuers set things up so you pay off the lowest interest rate charges first, and the highest interest rate charges last. Read that … Continue reading “Watch Out for Negative Payment Hierarchy”

Five Credit Card Fees You Can Avoid

As you probably already know, credit card issuers make much of their money on collected interest and outrageous fees.  It seems everyday credit card companies are coming up with new fees to charge customers.  Take a look at five common credit card fees you can easily avoid with some common sense and responsibility. Credit card … Continue reading “Five Credit Card Fees You Can Avoid”

A Lesson in Credit Utilization

A friend of mine recently notified me that his credit score plummeted nearly 100 points from the last time it was updated. He is enrolled in a credit monitoring program, so he receives alerts when his credit scores fluctuate. Naturally, I asked him why he thought his credit score could have dropped so dramatically in … Continue reading “A Lesson in Credit Utilization”

Capital One to Report Credit Limits to Bureaus

Capital One has announced that it will report credit limits on its credit cards to all 3 major credit bureaus amid criticism from consumer and industry groups. The move will also help improve card holder’s credit scores, which likely suffered from a lack of information regarding the credit lines many had established with Capital One. … Continue reading “Capital One to Report Credit Limits to Bureaus”

Better Have a Credit Card If You Plan to Rent a Car

If you’re thinking about taking a family trip this summer, or simply need to a rent a car for a business trip, make sure you’ve got a credit card handy. If you show up to a Hertz or an Avis without a credit card, you could find yourself walking away frustrated on foot Most, if … Continue reading “Better Have a Credit Card If You Plan to Rent a Car”

Credit Line Increases Can Hurt and Help Your Credit Score

While it generally makes sense to raise credit lines periodically to increase your available credit and credit utilization, it can also backfire if you aren’t responsible. Many credit line increase requests count as hard credit inquiries, which will be documented on your credit report for two years, and count against your credit score for one … Continue reading “Credit Line Increases Can Hurt and Help Your Credit Score”

Make Large Purchases Early in Your Billing Cycle

If you generally pay off your entire credit card balance each month, but often have a tough time doing so, you may want to think about timing your credit card purchases. Credit cards have billing cycles, typically 30 days or roughly one calendar month. All purchases made during a billing cycle are due within a … Continue reading “Make Large Purchases Early in Your Billing Cycle”