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”

Balance Transfers and Store Credit Cards

A couple of friends of mine moved into a new house a few years ago, and found themselves with a lot more space and not much to fill it. Their first instinct was to the upgrade the television. They had placed a 36 inch TV in the living room, but it seemed microscopic in their … Continue reading “Balance Transfers and Store Credit Cards”

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”

The Black American Express Credit Card Really Exists

Credit cards don’t typically fall into the category of pop-culture, nor do they usually garner much attention aside from their basic functionality. But one credit card has mystified and amazed consumers and the general public for years: “The Black American Express Card.” During the 1980s, many believed it was a hoax or simply urban legend, … Continue reading “The Black American Express Credit Card Really Exists”

Best Gas Rewards Credit Cards – Earn 5-10% Cash Back!

(*****Last updated 7/13/2017) So gas prices are continuing to rise, and it’s not even summer yet. Many experts see gas prices per gallon shooting up to over $4.00 which is nothing short of scary. It’s really getting to the point where we can’t ignore the excessive price of gasoline. Before you could turn and cringe, … Continue reading “Best Gas Rewards Credit Cards – Earn 5-10% Cash Back!”