Which Credit Card to Pay Off First?

And now the age old question. “Which credit card to pay off first?” Pay the Credit Card with the Highest APR First Well, the short and obvious answer would be to pay the credit card with the highest interest rate (APR). After all, your credit card with 21.99% APR is costing you more than your … Continue reading “Which Credit Card to Pay Off First?”

Are Credit Card Cash Rewards Taxable?

Another frequently asked question that comes up in the credit world: “Are credit card cash rewards taxable?” Often, this question heats up around April, right before taxes are due. And with all the cash back rewards credit cards around these days, it’s no wonder consumers are concerned that they may be taxed for things like … Continue reading “Are Credit Card Cash Rewards Taxable?”

Should I Close My Credit Card?

More credit Q&A: “Should I close my credit card?” So you’ve decided you don’t want your credit card anymore. You don’t use it and it just sits around in your wallet. Either that, or you’ve got spending habits that are out of control and you just want to pay off the credit card and close … Continue reading “Should I Close My Credit Card?”

How Are Credit Card Minimum Payments Calculated?

Let’s address the following timely question: “How are credit card minimum payments calculated?” Since the credit crunch hit, credit card minimum payment requirements have been going up as card issuers attempt to tighten their grip on borrowers’ spending habits. Instead of letting them run up hefty credit card balances, they’re requiring card holders to pay … Continue reading “How Are Credit Card Minimum Payments Calculated?”

What Is an Excellent Credit Score?

For those obsessed with their credit score, I’ll attempt to answer the age old question, “What is an excellent credit score?” For the record, we’re talking about FICO scores, which are far and away the most common and widely used by creditors. The FICO score ranges from 300-850, with higher scores representing a lower risk … Continue reading “What Is an Excellent Credit Score?”