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Credit Help and Tips

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 […]

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Credit Help and Tips

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 […]

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Credit Help and Tips

Does a Credit Check Lower Your Credit Score?

Credit Q&A:”Does a Credit Check Lower Your Credit Score?” I get this question all the time, and like all things in the credit score realm, it depends.  Sigh… There are a number of different reasons to run a credit check, and thus the confusion, but we’ll get to the bottom of it. I promise. Checking […]

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Credit Help and Tips

What Credit Score Do You Need to Get a Credit Card?

A frequently asked question in the consumer credit realm tends to be, “what credit score do you need to get a credit card?” Unfortunately, the answer to this question isn’t one simple three-digit number, but rather a variable answer dependent on a number of factors. Though a numerical credit score is used in the decisioning […]

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Credit Help and Tips

Is ID Required for a Credit Card Purchase?

Credit card Q&A: “Is ID required for a credit card purchase?” Credit card rules are often gray, what with the fact that multiple companies are operating in the same space. Then you’ve got the merchants’ own rules, which sometimes don’t coincide with the terms of Visa, MasterCard, or American Express, whether they are contractually acceptable […]

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Credit Help and Tips

Paying Your Taxes with a Credit Card

Tax season is upon us once more, and time is running out to get those completed returns to the IRS. For those of us who actually have to make a payment, as opposed to simply receiving a refund, that April 15th deadline couldn’t seem any closer. And with all the recent economic turmoil, I’m sure […]

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Credit Card Reviews

Credit Card Comparison by Company

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 […]

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Credit News

The Visa Black Card Review

The new “Visa Black Card” was finally released. It is coined as “not just another piece of plastic,” both literally and figuratively, because it’s made out of carbon graphite, not the soft cheap plastic we’ve all become accustom to. Following in the footsteps of the infamous and rather elusive Black American Express card, the Visa […]

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Credit Help and Tips

Are Credit Card Minimums Legal?

Credit card Q&A: “Are credit card minimums legal?” The other day I was walking in New York City, and because it was so blisteringly cold, I decided to grab a cup of overpriced, hot coffee. I didn’t have any cash on me at the time, just a few credit cards I typically use to make […]

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Credit News

A Peak Inside the Chinese Credit Card Industry

You may think it’s cruel when your credit card issuer charges you a late fee or an over-the-limit penalty, but imagine if your name was printed in the paper for all to see if you failed to pay your bills on time. And if that’s not enough for you, picture being hauled to jail for […]