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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696 views

Are debit cards and “open loop” gift cards accepted everywhere that credit cards are?

In U.S., a debit card or an "open loop" gift card will normally have a Visa or MasterCard logo on it, and the card can be used in "credit" mode. Does that mean that such a debit card or gift card can ...
3
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1answer
85 views

If I take out a cash advance, how exactly do I get charged and does it hurt my credit?

I'm in a situation where I need $2500 (USD) in cash (for a money order/cashier's cheque). I'm considering taking out a cash advance on my new US credit card. My credit card agreement says the "APR" ...
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0answers
78 views

Can I use a U.S. only credit card outside of the US

Can I use a US only prepaid credit card to purchase from an online service from another country like Brasil?
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33 views

Default on credit report

I was wondering if anyone could help me with a situation that is giving me a lot of trouble at the minute? Back in 2011, I took a credit card with Vanquis Bank. Being young and silly, I didn't really ...
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0answers
61 views

what happens if the person living in india steels the money from USA credit cards [closed]

what happens if the person living in india who does not have USA visa and steels the money from USA credit cards.
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1answer
114 views

Will moving my debt from one credit card to another affect my credit score?

I have a card that is 50% used with 7% interest. The max credit limit on the card is $10,000, and I used $5000. I have another card that is $14,000 and I have $2900 used, but the interest is 14.9%. I ...
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1answer
51 views

Do I have to make a minimum payment to my credit card even if the balance is $0 after redeeming rewards?

Let's say this month I spent $50 with the card. The statement comes at the end of the month with a $50 balance and a $30 minimum payment required. Let's say I redeem my rewards on the card, which ...
2
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1answer
75 views

How far can a credit card balance go into the negative?

Hypothetically, if kept overpaying a credit card such that the negative balance kept increasing to absurd amounts, what would happen? For example, say I have a credit card with a line of $500. ...
4
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1answer
98 views

How long does a retailer have to take payment?

I made an e-commerce purchase in January 2015, for which I used a credit card. The product was delivered promptly; no problem there at all; however the retailer failed to debit my account until around ...
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3answers
659 views

Finding out actual items bought via credit card issuer and not the store receipt?

When one goes to the grocery store, one receives a receipt that lists all the items one has bought, with the name of the item and its amount. On my credit card statement (BoA), I only see a charge ...
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4answers
245 views

Is it wise to have plenty of current accounts in different banks?

Is it ok for an individual to open many (10+) current accounts with different banks? I have no business. The reason behind that is that I usually get a credit card with every new bank account I ...
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2answers
269 views

What recourse does a credit card company have upon default?

What recourse does a credit card company have if a customer defaulted and stopped making payments in the U.S.? For example, can they: Legally force him to liquidate his assets (like his home or ...
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2answers
79 views

How long should one wait before reapplying for credit card after account closure

I have recently come out of some financial trouble. I had about 4 collection agencies I owed money to and 2 credit card accounts that had been frozen and closed. I have now paid off both credit cards ...
3
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1answer
93 views

How to minimize damage from sale of savings account

I've been a Bank of America customer for ~13 years and have maintained the same accounts during that period. I currently have a checking and savings account with them and have two credit cards (one ...
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3answers
269 views

I plan to buy a car soon and I have the cash. Should I use my credit cards to pay for them?

I have enough cash to pay off a car I'm planning to buy. However, instead of using cash on a debit card, I thought of using my credit cards instead so I can earn points on them. Are there any ...
5
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2answers
235 views

Should I cash out some of my retirement to pay credit card debt?

I'm very recently divorced and have accumulated the following credit card debt, both during my marriage and during my separation, when I struggled to get by while paying both a mortgage and rent on my ...
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3answers
3k views

Why does Chase Freedom require me to “activate” my card for rewards every quarter?

Note: The "activation" I am talking about here is not the same as the "activation" in this question. I just got a Chase Freedom credit card, mostly for the 5% cash back rewards. I had seen that ...
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2answers
85 views

How to cancel a credit card and verify it was closed

I would like to cancel my Delta Amex. In the online portal, there are no links that permit me to cancel the card online and receive an instant verification that it was closed successfully. Due to ...
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0answers
59 views

How soon in advance to cancel a credit card to avoid the annual fee?

Last year I applied for a credit card (Delta Gold Amex) in order to get 50K bonus miles with the first year annual fee waived. I'm about to cash in the miles and I have never paid a dime in interest. ...
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3answers
126 views

If I was to buy something a day before my due date for my credit card bill, would I be charged interest?

First of all, I am a resident of Canada. I am sort of new to credit cards, so I hope my question makes sense. I've had my card for a few months ago and I've always payed the balance in full by the ...
3
votes
1answer
91 views

Is it possible to be subject to cash withdrawal even if you don't use ATM?

Some companies offer using credit card for paying rent for an extra fee, or some other big-charge transactions that you might traditionally be required to pay for through ACH, a personal check and/or ...
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0answers
84 views

How Often Should I Chase a Credit Card Signup Bonus?

I put as much of my spending on credit cards as I can, to collect the cashback rewards. I see a lot of credit card offers that have a signup bonus--I've taken advantage of several of these offers in ...
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2answers
193 views

A way to store money in something like a credit card without my name on it? [closed]

I need to travel abroad, and one of the ways I thought I could easily take money without it being in a form of cash is to buy something. Gift cards obviously is a bad idea - it's limited amount ($100 ...
4
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3answers
1k views

What could be the possible reason for my student credit card denial?

I have a SSN about 30 days old and I am a University student and just started my internship. I applied for a student credit card online ( the requirements were average credit which meant I can start ...
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2answers
322 views

Why are earning credit card rewards often tied to groceries and gas?

Is there a business model that makes those more attractive categories for the issuers?
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1answer
55 views

Credit CARD Act and applying payments to recent purchases and balance transfer

The Credit CARD (Card Accountability Responsibility and Disclosure) Act in the U.S. states that payment amounts made in addition to the minimum payment must be applied to balances carrying the highest ...
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1answer
121 views

Brainstorming: Homebrew “credit” card?

In response to another question (about how to make credit cards pay interest on any positive balance), I came up with an odd combination: Get an account with both a debit card and a linked ...
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1answer
69 views

Why aren't there solutions for electronic itemized receipt for retail in-store purchases? [closed]

This is a personal finance question related to retail shopping. I am wondering why, with the evolution of the Web and relatively well-established credit card payment system, there is still no widely ...
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0answers
27 views

Rewards Cards: Determining how a vendor is listed with credit card company [duplicate]

How can I determine how a vendor or establishment is listed with the credit card company for the purpose of receiving rewards points or "cash back"? For example, a bar or a restaurant. Some cards ...
3
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1answer
55 views

Can you subtract credits/returns/refunds from statement balance?

Most credit card companies in the US do not charge any interest on any purchases if you pay at least the statement balance every month. E.g. you effectively get between 25 and 30+25 days of interest ...
3
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1answer
298 views

What are the pros and cons of using the cash back option at the grocery store register?

I am new to the US. Whenever I make a payment at a grocery store like sunucks, or walmart, etc. on payment terminal, they offer me cash back. I usually decline. I just wanted to know what are the ...
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1answer
44 views

How large is the market for Secured Credit Cards?

I've been looking around but I can't find a hard statistic on how large the secured credit card industry is. I just keep either finding advertisements or advice on them when I search. In fact I can't ...
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1answer
75 views

Refund policies: Why do some merchants make credit card refunds too complicated? [closed]

There is a lot of arbitrariness when it comes to refund policies. I understand that by law refunds are not required in all cases. But here is an example. If I buy an item using card and decide to ...
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2answers
95 views

Can my HOA get its own credit card (or something equivalent)?

I'm a volunteer member of my condominium's HOA board. As part of my volunteering, I helped the HOA set up a DSL account that is used to remotely monitor the building's solar panel array. This is all ...
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3answers
195 views

Transferring balance to a debit card

I often receive credit card offers in the mail with very attractive balance transfer options. I wonder what will happen if apply to a a credit card and try to transfer a balance to a debit card. ...
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1answer
57 views

As a student, should I get a credit card from India to the US, or apply for a credit card in the US?

I am planning to travel to the US as a student. I'm currently employed at an IB in India and I could get a credit card with a very good credit limit. However, if I get a credit card after going to the ...
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1answer
62 views

How can certain credit card payment patterns affect my credit score?

My bank allows me to pay off any portion of balance at any time, even if I have not received my statement for those purchases yet. I'm wondering if the frequency, amount, or way that I pay off my ...
4
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1answer
120 views

Long history of credit vs. many open accounts — where's the line?

I'm not an expert on credit scores, but I have done a good bit of research on how they're impacted by different variables. I know that a long history of a line of credit is seen as a positive; ...
2
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0answers
56 views

Is it worth enrolling for travel insurance from work or is the coverage from travel credit cards sufficient? [closed]

I just started work recently and the company is offering travel insurance as something I can enroll for (at a cost). Currently, I already have TD's Visa travel infinite credit card. This card has some ...
51
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11answers
7k views

Should I open a credit card when I turn 18 just to start a credit score?

I spend about $20-30 a week on my debit card, with periodic $200-300 purchases every few months. I've thought about getting a credit card the moment I turn 18 and using it to buy everything, then ...
7
votes
1answer
873 views

Should I use my credit or debit card when purchasing groceries?

When I go grocery shopping, I almost always purchase enough to warrant using a card rather than cash. I used to use my debit card for these transactions, but twice in the past (each incident about ...
3
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1answer
615 views

Can I use balance transfer to buy car?

I am in market to buy new car but I am a little short on money. I could finance the car but if buy on cash, I will qualify for additional savings up to $1000. Furthermore even if I finance the car ...
8
votes
2answers
2k views

Are there any credit cards with a statement period longer than 1 month?

I'm surprised that all of the credit cards I've looked at have a statement period of 1 month and almost always have the period run from the 1st to the 31st, though they differ in their payment due ...
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0answers
49 views

Advice for applying for new credit with no history to lose

I have had a credit history for all of 7 months, and so I only recently (hypothetically) got a credit score. Now I would like to add a small loan and some better sources of credit to my wallet, and ...
2
votes
2answers
211 views

Can I negotiate a 0% transaction fee with my credit card company?

Whenever a month or two passes without using one of my credit cards, the respective bank usually sends me an offer for a 0% APR for a year or so on balance transfers. They send me these blank checks ...
6
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2answers
1k views

Is the Amazon credit card reported to the credit agencies?

Is the Amazon Store credit card reported to the credit agencies? I'd like to know if a good payment history with this card will affect credit score or not.
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4answers
264 views

Achieving ideal credit card utilization above 0%

So everyone is aware of the general rule that you should keep credit card utilization below 30% of your credit limit. It's also a good idea to keep this utilization above 0%. It's very easy to stay ...
3
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2answers
1k views

Paying Credit Card statement amount in full on due date and using it in the same day

I have this question. I paid my Credit Card statement amount yesterday in full (which I always do), on due date. Its an online transfer. Immediately after an hour (before the transaction is even ...
6
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2answers
262 views

“Correct” answer on Visa credit quiz doesn't make sense

I'll be turning 18 in a few months, and I'd like to get a credit card as soon as I can. I've been doing some research on the options available, when I stumbled across this credit quiz. I answered the ...
5
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3answers
205 views

How can a company charge a closed credit card?

My Visa card was closed due to the company of this particular Visa card going out of business. I couldn't charge my card and could only make payments. However, Emusic.com was able to charge it, ...