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?
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?
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?
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?
I’ve already talked about the general pros and cons of credit cards, but now let’s look at some of the positive and negative attributes of individual card issuers and their related credit cards. American Express When I think about American Express, I think convenience. They truly have the best customer service out there, which can… Continue reading Credit Card Comparison by Company
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
“We regret to inform you that after careful consideration we are unable to open an account for you at this time.” Heard that before? If so, you may be feeling down on your luck or in a panic to get another form of credit elsewhere. But before you freak out, think about why the credit… Continue reading Your Credit Card Application Has Been Declined