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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How to understand the caculation of interest for credit cards?

From Wikipedia The general calculation formula most financial institutions use to determine the amount of interest to be charged is APR/100 x ADB/365 x number of days revolved. Take the annual ...
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What does high credit utilization really mean?

I've heard and read that high utilization of credit hurts, but what does that mean exactly? Does that mean high utilization month-to-month, or simply high utilization at all, even when paid off in ...
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What is considered a low credit limit?

I was using a tool that suggest how I can increase my credit score. One thing was that it said my credit limit is "low." But it didn't say what "low" is. What is considered a low credit limit?
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Changing credit address to apartment address [duplicate]

Possible Duplicate: What kind of an impact does moving have on your credit (score)? I recently moved out of my parents house into an apartment in the city, and I've noticed it's way easier ...
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Is it better to buy a computer on my credit card, or on credit from the computer store?

I am interested on buying a computer (approximate cost USD 600). I can pay for it either with my credit card, or apply for credit in the computer store. What are the advantages of using one form ...
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344 views

What percentage of your credit card limit should you use [duplicate]

Possible Duplicate: What is the optimal ratio of used credit to credit limit for your credit score? Does length of credit history or percent of credit used count for more? I just read ...
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When does interest start for a 0% APR balance transfer?

I have made a balance transfer with 0% APR for 12 months and paid only the minimum for 12 months. I wasn't charged any interest and if I pay the balance in full before 12 months is over, I don't get ...
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Should we combine credit cards after getting married?

I am about to get married and we will be combining finances, so please base your suggestions off of the assumption that our finances will be fully combined. I currently have 3 credit cards of which 1 ...
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How often can/should I apply for a credit limit increase?

I just got my first personal credit card 8 months ago, and I'm occasionally hitting/getting close to the credit limit. I've never missed a payment or had to pay a single fee, and I'm using the card ...
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173 views

Maximising total credit limit on credit cards

I am curious about the tactics that someone would use if they wanted to obtain the maximum possible total credit limit. I don't actually intent to do this, but I'm just curious about how much money ...
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66 views

Which reward/benefits card is the best value for money in Australia?

As per the question this is based off: Which card do you use and why? Some cards are similar but some not. This will also be affected by personal preference, so indicate why you chose a ...
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Deposit money to credit card

Let's say I know a credit card number and the card doesn't belong to me, can I deposit money on that credit card? The receiver will not object getting extra money. But is this possible and how you do ...
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In the United States, are credit cards with rewards harder to get approved when one has no credit history?

For example, ones with free frequent flyer miles upon registration, or maybe some of the Amazon.com credit cards? My credit card applications keep on getting rejected. For the record, I'm an ...
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My credit score went through the roof. Why?

3 months ago, my credit score took a massive dip. The consensus was that this happened because I no longer had any credit cards and thus no revolving debt. So I went out and got myself a new ...
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Credit Card: Charge from the bank

Let's say I have a debt of $50. Let's say I don't pay for my credit card debts. Next month they will charge me interest upon the money I should have paid ($50 + interest). Now let's say I pay more ...
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How does Paying credit card in full VS paying with interest will affect your credit score?

What is the effect of paying credit card in full or with interest on your credit score?
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How soon are credit reports available, after opening one's first credit account ?

They say that your credit reports are available after having an open credit account for 6 months. I've had a Citi Forward card for international students for 6 months and a week now, but I still can't ...
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Credit card transactions for personal finances

I have personal finance software installed on my mobile phone. I input all the info about purchases/spending in there so that I keep track of my money. Recently I've got a credit card with a bank. ...
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92 views

What is a good credit or debit card that offers a reward with each transaction in the US?

I am looking for a rewards card (credit or debit) where you can earn some number of cents (I've seen 10 or 20) per purchase that you charge to the card regardless of the amount. Something similar to ...
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2answers
318 views

What extra charges and fees will I be billed for an international credit card transaction?

I've never traveled abroad in the past. I live in the US, and am taking a vacation shortly to Italy. At this time, I'm trying to understand what additional fees will be incurred if I attempt to use ...
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Closing unused credit cards: how much will it really hurt?

I have three credit cards, but I only use the newest. I pay it off in full every month, and the two older credit cards haven't seen a single transaction in over a year. None have an annual payment, so ...
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Anonymous CC: Does “Entropay” really not hand my personal data over to a company - are there alternatives?

these days our anonymity gets less and less and today I remembered that I actually had a virtual credit card, that I might use to shop more anonymous, from Entroypay. Now Entropay states: "Financial ...
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How will using a credit card for daily expenses instead of my debit card affect me?

I have the bad habit of carrying a balance on my credit cards and paying monthly out of my bank account toward those cards. I was talking to a friend recently about this, and he brought up the idea ...
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The meaning of “annual salary”

Let's say you're having a three-month job every year, and during those three months, your annual salary is $12*. (i.e. It's not an hourly job, but a full-time job -- you earn $3 during those three ...
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What kind of an impact does moving have on your credit (score)?

Being an international student, the room I rent near campus has been my domestic home address since I came here to study. Now that I am working at a place quite far from campus, I would like to ...
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Can I get a chargeback from Visa or MasterCard if a product I bought did not match the description?

If I buy something from a retailer and later on, when I go pick up the product, I find out that it was not the same product agreed on and they refuse to give me a refund (even through they legally ...
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“Interest Earned” means my money or my bank's money?

Hi all I'm almost graduating into the working world and even if I hate it I'd have to start learning credit cards and stuff. There is a transaction in my iBanking that shows "Interest Earned ...
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657 views

Did Capital One ever start reporting credit limits to the Credit Agencies for Credit card accounts?

As described in this article from 2005 Capital One has done some shady things in the past in the way they report to credit bureaus. Specifically they don't disclose your credit limit to the credit ...
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Deductible expenses paid with credit card: In which tax year would they fall?

If I paid my business expenses with a credit card during the month of December, which year can I deduct them from my taxes? 2011 (when the purchase was made) or 2012 (when I paid off the credit card)? ...
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Why do cash back credit cards give a higher rate for dining and gasoline purchases?

Title says it all. For example the Amazon.com Chase card gives 3 points/dollar for Amazon purchases, 2 for gas station and dining purchases, and 1 point for everything else. It's obvious that money ...
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How are Visa payWave and MasterCard PayPass protected against unauthorized use?

Visa payWave and MasterCard PayPass have similar description - the card is equipped with antenna that it uses to talk to the terminal. For small purchases (something like less that $50) the ...
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I might use a credit card convenience check. What should I consider?

I received a convenience check offer from Chase. The checks incur a 3.99% APR for one year, and there is no transaction fee (no usual 3% of the amount). I have committed to pay $500/mo in Jan, Feb, ...
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Where can I find a list of credit card interest rates for US issuers?

I'm looking for a website (hopefully independent of major card issuers) that has a good list and comparisons of credit card interest rates for the United States as well as historical data showing how ...
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Where to get prepaid stored value cards capable of having higher limits (e.g. $10,000)?

When I was drafting consumer protection guidelines for stored value cards, I heard there were cards that stored balances as high as $10,000. Yet, when I go to convenience stores, I only see stored ...
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Canadian personal finance software with ability to export historical credit card transactions?

I am looking for a personal finance software that lists all your credit card transactions. I was looking at mint Canada and it has what I want (lists all your credit card transactions and assigns the ...
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Clear example of credit card balance 55 days interest-free “trick”?

I read on this website the following: Maximize Your Statement Cycle The smartest way to use your credit card is to be sure to pay your balances in full and on time. However, you can ...
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Credit card payment date

I recently got my first credit card and after calling the bank, the lady on the phone was not able to clarify my questions (weird, huh?). Maybe you can help me understand the following scenario: ...
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After obtaining an American Express Centurion card, do I have to maintain a level of spending to keep it?

The Centurion: American Express's most exclusive card. Allegedly once used to purchase — on credit, with a credit card — a $54,000,000 plane for a wealthy individual. A card that is by invitation ...
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Do credit card companies start to spam me like crazy after I applied for a credit card and got rejected?

Because that's what's happening to me right now. I got rejected a few months ago, and now I'm getting offers like crazy.. I haven't ever gotten one before, and am still a dependent on my parents.
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how do i get an out-of-state billing address for a credit card?

When I buy virtual items online that do not need to be shipped, sales tax is often calculated by the merchant automatically based on my credit card billing address. My billing address is in ...
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In what countries can credit card merchants use address verification?

Usually when you pay with a Visa or MasterCard online you have to provide a billing address. Many online shops, especially from the United States, will only send purchases to the cardholders billing ...
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Calculate how much interest I will pay given a creditcard balance and a monthly payment?

Assuming I have a $1000 balance on a credit card with a 12% APR how can I calculate my total interest payments if I pay $300 a month? All the online calculators I've found are geared toward showing ...
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How much savings should you keep before paying off credit card debt?

Is there a rule of thumb or basic idea as to how much savings I should keep regardless of credit card debt? Right now I have about 5k of CC debt at 17% and 5k in savings....seems like a no brainer ...
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Paying bills late accidentally… why do people not use direct debit?

I have always used direct debit for all my bills, including telephone, utilities, credit cards, health insurance and all other services. But I keep reading about people who complain that they were ...
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Ask for credit decrease

My wife and I are having problems budgeting with our credit cards. We are trying to use our debit card, but while we can focus for a short period we have problems getting the discipline to keep the ...
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Trouble sticking to a budget when using credit cards for day to day transactions?

I recently got a credit card which is linked to an airline, and has a flyer points program for every dollar spent on the card in each billing period. Wanting to make the most of this, I started using ...
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Better ask for secured credit card rightaway or risk asking for an unsecured credit card first, the secured credit card later if it does'nt work out?

I had applied to DCU for a share-secured credit card, over the phone, but today I came to know they lost my application! The application number they gave me does not turn up anything and when they ...
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What to do with expired cards (credit, debit, insurance cards, …)

I wonder if it is safe to throw away expired cards (credit cards, debit cards, health insurance cards) with name and card/account/ID number as trash. Even if other people have them, will they be able ...
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F-1 alien on OPT in the US transitioning into H1-B; do I have a road to credit?

I came to the United States on an F-1 Student Visa, and despite trying here and there, I haven't been approved for any credit in America. I have a fairly sizeable amount of credit under my name (and ...
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How does a non-uniform utilization across your credit cards affect you?

I have three secured cards with me, one of which gives me rewards for gas and another for online purchases. The third one is a Mastercard - I use that only where my VISA cards do not get accepted. ...