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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12
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4answers
882 views

Disputing charge made with chip card

Last month we saw a charge from our local Best Buy store on our Bank of America credit card statement. We had never been to Best Buy in years, and I can't remember when or if I've bought anything ...
4
votes
1answer
101 views

Will the AMEX to CitiBank portfolio sale affect my credit score?

I've had my Costco-branded American Express credit card for 12+ years. CitiBank will be purchasing the portfolio from AMEX in line with their new deal with Costco. Assuming no hard credit pull and no ...
4
votes
2answers
172 views

If I pay my credit card balance immediately, will my credit score still go up fast?

I heard that it's good to have a balance because then the bureaus report that balance -- if you pay it off before they report it, they report zero. Since you want the bureaus to know that you use ...
0
votes
2answers
126 views

Credit score and paying my balance before the closing date?

If I pay my balance before the closing date, my balance goes to zero and that is what is reported to the bureaus. Given so, would that hardly affect credit? I want my credit to go up as fast as ...
4
votes
1answer
137 views

USA: Build credit score with second credit card - no history

I am new to the U.S. and therefore have no credit history at all. I am employed here and my salary is good. I want to build credit history and therefore opened a secured credit card which I use ...
5
votes
1answer
147 views

Cash Advance causes recurring interest fee after paid in full

In January I made a cash advance of $110 with my credit card. In Februaury, I paid off January's balance (+$10 cash advance fee +$1.82 cash advance interest) in full by the statement due date. This ...
6
votes
2answers
266 views

Will I ever lose money if I always pay the credit card bill on time?

One last thing I am pondering before getting a secured credit card. Your due date is at least 25 days after the close of each billing cycle. We will not charge you interest on new purchases, ...
1
vote
3answers
245 views

What does APR mean I'm paying?

I've read every article and post on the internet and I'm still confused. I'm getting a credit card with a 19.9% APR with no annual or monthly fees. I read that APR is the annual rate for borrowing. ...
5
votes
3answers
850 views

Do you have to pay if you don't use a credit card with no annual fee?

Say I get approved for a credit line/card and it has no annual fees. If I never use any credit, do I still have to pay money to the lender? Just wondering because I don't want to have any surprise ...
4
votes
5answers
214 views

Do I need to use all of my credit cards, especially the oldest, every month to build credit?

I understand that it's important to keep my longest line of credit open, which is about 5 years. However, I really don't like using that credit card for logistical reasons (out of state bank, etc.) I ...
3
votes
1answer
92 views

When my credit card is charged, what information does the business recieve?

Say I purchase an item from an online retailer. I give them my credit card, address, cvc code, etc. When the retailer attempts to charge my card, what information will my bank (or mastercard/visa/...
0
votes
2answers
111 views

If I paid my credit card but it didnt post to my bank, will future payments go on this bill or my next bill?

I got a secured credit card like 2 weeks ago. I didn't know how the billing cycle worked so I paid the 20 dollar balance yesterday. The payment is still pending and hasn't shown up on my bank account ...
1
vote
2answers
75 views

Young adult's first credit card - what to look for and what to avoid [duplicate]

What should a young adult - with no credit history, moving out of the parent's home, and not going to college - look for in their first credit card? I mean for comparing various credit card programs &...
3
votes
3answers
153 views

Closing a store card I just opened

I recently opened a Walmart card account last week with the promotion they had going on. Today I got a credit alert and when I checked it, I noticed my score was a few points lower, seven to be exact. ...
3
votes
2answers
53 views

Removing unused credit card from CIBIL credit report

I used to hold an ABN Amro(Now RBS) co-branded credit card back in 2008. After using it for a period, I realized that the card was no good for my needs. I called up the customer care and asked for the ...
1
vote
1answer
84 views

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 $1300/...
-3
votes
3answers
238 views

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 ...
0
votes
1answer
168 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 ...
5
votes
5answers
287 views

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 ...
3
votes
2answers
71 views

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 ...
4
votes
1answer
196 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 ...
1
vote
2answers
134 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 ...
1
vote
0answers
116 views

Square transaction cancelled [closed]

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 ...
7
votes
2answers
477 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 ...
1
vote
1answer
80 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 ...
5
votes
3answers
259 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 ...
0
votes
1answer
78 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 ...
3
votes
2answers
1k 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 ...
0
votes
1answer
86 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 ...
3
votes
1answer
94 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 ...
5
votes
3answers
587 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 ...
6
votes
1answer
724 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 ...
4
votes
2answers
231 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 ...
3
votes
1answer
222 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 ...
0
votes
0answers
28 views

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] ...
0
votes
1answer
78 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 this....
1
vote
2answers
183 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 ...
6
votes
1answer
462 views

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 ...
6
votes
4answers
251 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 (...
8
votes
3answers
979 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 ...
3
votes
3answers
351 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 ...
1
vote
2answers
194 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 ...
0
votes
2answers
79 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. ...
0
votes
1answer
107 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 ...
1
vote
2answers
184 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 ...
19
votes
5answers
4k views

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 ...
0
votes
1answer
80 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?
0
votes
0answers
63 views

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.
3
votes
1answer
129 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 ...
2
votes
2answers
232 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 ...