Credit cards are unstructured debt accounts linked to a plastic card that allows the holder to make purchases from retailers that accept the card. Common credit card networks in the U.S. include Visa, MasterCard, Discover, and American Express.

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Credit score impact of immediate card payments

Some background In an attempt to get out of the rental game, I'd like to get my score boosted to the point where I can get considered for first time homebuyer programs. I'm spending north of ...
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Why do credit card companies want people with good credit scores? [duplicate]

In order to get approved for most credit cards, you need to have a good credit score. But why do the credit card companies want people with good credit scores (which indicate that you're more likely ...
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111 views

How can credit card companies offer a cash back program? [duplicate]

Many credit cards offer cash rewards or similar programs which effectively amount to a small % discount (at the CC company's expense) for various purchases. For instance, American Express has a card ...
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167 views
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What evidence that reporting a small utilization (vs no utilization) leads to a better credit rating?

In North America, it is common advice to make your credit card shows utilization. That is, let some balance remain until the statement issues so that utilization will be reported to the credit ...
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When making a credit transaction, why does it take the transaction a couple days to clear, but it can communicate the hold immediately?

I find it interesting that if I make a purchase as a credit transaction -- that it takes a couple of days to clear, but yet, the hold can be communicated immediately. If the networks in place can ...
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36 views

What does this section about revolving balances in a credit card TAC mean?

So, I'm about to hit the end a promotional period on a credit card that I used to buy an engagement ring. I'm looking at about $3000 in interest added back onto the card, which I don't really want, so ...
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91 views

Refund went through AFTER I received my current statement? [duplicate]

So I bought a blender from Wal-Mart for $100. I returned it a couple days later. My current credit card statement came in the mail and shows the $100 blender was bought. It does not show the refund. I ...
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Square transaction cancelled

My 81 year old mother sold her car on Tuesday, the 26th of January, for $1850. She opted to use her Square account as she was paid with a credit card. Both Credit card companies involved approved the ...
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258 views

What to do if asked to insert a 4-digits security code?

I own a MasterCard credit card. It has a 3-digit CVV code written on it, and I've always used it to make purchases. Now I'm in Ireland and everyone here wants me to insert a 4-digit code. The problem ...
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65 views

How do credit card companies make money from cardholders who do not carry a balance? [duplicate]

How do credit card companies make money from cardholders who do not carry a balance? It seems credit card companies are eager to offer their services to borrowers even if they have a tendency to pay ...
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230 views

Have plenty of cash flow but bad credit

I had financial issues back in 06-08 (when the nation in general also did). I had debt I couldn't pay, and I had to sell our house short. I since then have not purchased anything I couldn't pay cash ...
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48 views

Is credit score affected if an account is closed from whom I am an authorized user?

A couple of years ago, my father added me as an authorized user on a store credit card, to help me create credit history. Since then, it has been appearing on my credit report, and it is right now the ...
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2answers
166 views

Can I pay off my credit card balance to free up available credit?

Is it possible to pay off my balance more than once in a payment period in order to increase the amount I can spend in a payment period? I just got a credit card to start rebuilding my credit. I have ...
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1answer
50 views

Why issuing credit cards is profitable for banks? [duplicate]

I don't have much knowledge about financial markets but I was wondering how banks offering credit cards make profit? One possible way is interests on late payments but let's say if most of the people ...
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1answer
83 views

Is there a credit card that won't get incorrectly tagged for fraud with international travel

I travel quite a bit. I had a Chase card. About once a month they'd mark it for fraud because of my travel. Not once was it actually fraud. All charges were legit. On top of that I have flawless ...
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252 views

Cancelling a credit card when credit card company won't let you cancel? Who to complain to?

So I have what I think is an interesting and funny Catch-22 that might give someone a chuckle. And perhaps someone can help me! I just got a American Airlines Advantage Citibank Platinum Select ...
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1answer
694 views

How quickly will the funds be available when depositing credit card checks?

I have credit card checks, and every time I go to cash or deposit one I get the strangest looks, like "What is this?", and the worst part is they don't have a clue on the turnaround time. My question ...
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180 views

Is there any downside to opening credit card accounts and then leaving them inactive?

I currently have a single credit card. I don't really use it at all, maybe $50-500/month on it which I pay off. In checking my credit score, which is already near 800, I got a pretty good ding for ...
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204 views

Mastercard purchase protection benefits for stolen items

I have a Visa signature card that covers any purchase within 90 days of purchasing date from theft or damage, the cost of the item will be refunded. Apparently Mastercard offers a similar benefit but ...
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What does the “upgrade” from a credit limit to a “credit access line” really mean? [duplicate]

I've just received a letter from Chase saying that my card has been upgraded to no longer have a credit limit, but a "credit access line" (which they can continue to "refer to credit access line [sic] ...
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1answer
45 views

Why Demat/Stock Market Brokers don't support Credit Card Payin

Why does Demat Account (Stock Brokers) don't support Pay-in to our Demat account directly from the Credit Cards? I am living in India, and so far I haven't come across any company which supports ...
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2answers
104 views

Is it better to pay credit card bills through the online bill pay service offered by my bank or from my credit card's website?

I have a Radius Bank checking account with a bill pay service and a Capital One credit card. I can pay my credit card bill from either website. Is there any advantage to using Radius's over Capital ...
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My “credit limit” is now a “credit access line”. Does it matter?

My credit card just got "upgraded". Tucked in among all the notes about new benefits I've got access to is this line: Please note: Your credit line/credit limit will now be referred to as a ...
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4answers
159 views

What should I be looking for when applying for a credit card?

I am looking to open up a new credit card. Throughout college, I had a credit card from a store, but since I don't really shop at the store anymore, I am not really getting value out of the card ...
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711 views

Downside to temporarily lowering interest rates?

American Express sent me a promotional offer to lower the interest rate on my credit card for 12 months. I don't carry a balance on any credit cards. I can't think of a good reason to accept this ...
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158 views

Maximum transaction amount on debit card (USA)

Usually when a credit (yes credit and not debit - I didn't mistype) card has too little available credit, some of the card balance needs to be paid off. The available credit is increased by the amount ...
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168 views

Should I consolidate loans and cards, or just cards, leaving multiple loans?

I will start off by saying that I suck with credit cards. I just can't manage them, and if I have access to them, I end up impulse spending money. I should not need to; I earn great money, but I seem ...
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70 views

How do booking agencies avoid credit card fees [closed]

I am curios about the following situation. Let’s say I have a website where people can book flights. They pay us with their credit card, and we are buying a flight ticket for them a few days later. ...
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86 views

Credit Disputes Refund & Credit Fraud Refund

I had over $200 stolen from my account and I reported it to a bank management. After a week I got that $200 money back to my account which shows as Credit Disputes Refund. Then I got over $1500 to ...
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126 views

How to get rid of bad credit cards without impacting credit report

I have two bad credit cards, one at 11.8% + Prime (working out to about 18%+) and another recently raised to 30% (card issuer swears they did this on every cardholder, and that I'm a member in good ...
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Would it be advantageous for me to pay off these two credit cards and cancel them with a 401k loan?

I'm considering taking a loan on my 401k in order to pay off and close 2 credit cards. I have approximately 30 years until I consider retiring. The amount of the loan will be $1700 which is less ...
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57 views

Credit card for low CIBIL Score? [closed]

I have CIBIL score of 628. I want to improve it using credit card. I applied in one bank but they declined it. Is any bank provide credit card for this score in India?
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Optimal Credit Card Utilization? [duplicate]

I was wondering what percentage of credit card utilization is optimal to improve credit? Currently I have a "good" credit rating, but there is always room to improve.
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110 views

Why do retailers in Peru have different POS terminals for Mastercard and Visa?

A recent visit to Lima showed me that virtually all retailers who accepted both cards had to use two different terminals instead of a unified one. Is there a specific infrastructure, culture or market ...
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2answers
229 views

should I get a dental implant before the end of the year?

Here is my situation: I paid a lot in out of pocket medical/dental costs this year (more than $5K) I still need about $2K in dental work. I do not have the cash on hand to do it. But, if I get it ...
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62 views

How Secure credit card Increase Cibil Score?

I have Low Cibil Score(628). Take Example, I buy secure credit card say for Rs.25000, and i get Credit Limit as Rs.20,000.I do use Secure credit card 50% every month.And i pay EMIs correctly. Than ...
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331 views

Is it possible to get a credit card with a $0 limit?

There seems to be an increasing trend of "free" online services to require a credit card while signing up, but then start charging you after an initial period, e.g. LinkedIn Premium is free for the ...
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113 views

Paying credit card debt with student loans

First of all let me say that my financial future is looking pretty scary as of right now. I just started graduate school in August and I came in with about 63k in debt from undergrad. Fortunately my ...
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Which bank is my Discover card through?

I have used Visa exclusively for 15, now I have my first Discover card. A notable difference is that Visa always carries the name of the bank (for me it was Chase); but the Discover card does not. ...
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My payment has been voided by the merchants but money wont show up on my credit card

I ordered something from the internet and payed thru credit card. But my order has been canceled and they promised to refund me the payment I made. They say the have only authorized the payment but ...
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3answers
217 views

Does credit card declined negatively impact your credit score?

I have been told that trying to make a payment with a credit card that declines due to no funds, negatively impact credit score. Is this true? Edit: This was for a payment online. Note that I don't ...
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313 views

How do we decide where to pay back debts when someone dies without a will and has both Credit Card Debt and Debts to Family Members?

I have an aunt that died without a will and with a large amount of credit card debt. She lived in Illinois before her death. Before she passed away, I physically took care of her and paid a large ...
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Transfer from Amex Credit card to BofA debit card

Note: before seeing "extra" information as noise, note that users have requested more details. Question: How can my father send money from his American Express Credit card to my Bank Of America Debit ...
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1answer
499 views

Buying something online in canadian dollars with us dollars

I want to buy something online that only accepts canadian dollars and also paypal(but I want to try not to have to use that). It shows the credit card that I have but the price is listed in canadian ...
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3answers
616 views

What are some examples of unsecured loans

I am writing an essay on unsecured loans and am now trying to find some examples, so that I may then talk about the pros and cons for each example. I have already mentioned credit cards and an ...
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104 views

Should I get another credit card?

A few months, ago, I got a $250 secured credit card - for the sole sake of building up credit. On my credit records, I have 3 inquires, everything else is pretty much perfect (I carry a balance of ...
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192 views

Can credit card company charge interest even if all the bills are paid in full by due date?

I recently started using a credit card. I get the credit card statement by 22nd of every month, and the payment is due by the 1st of next month. The full amount is automatically debited from my ...
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113 views

Do pending transactions count towards credit utilization?

Usually when I use my US credit card for transactions, they are posted as pending. At this time the balance does not reflect this transaction, but available credit is reduced. I have set a target for ...
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144 views

Selling recently acquired personal items in order to pay down debt?

I was checking my credit cards statements the other day (I have 4), which they amount to ~$2000 USD, plus a car credit. Recently, my car credit bill went up due to my bank automatically renewing my ...
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132 views

Is home address required for online payments

I have a question about online payment and I would appreciate it if one could answer. For online payments with debitcard in the UK, at the time of payment, I have always been asked to enter the home ...