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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1answer
118 views

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 ...
11
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7answers
2k views

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 ...
8
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8answers
641 views

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 ...
3
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2answers
116 views

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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9answers
1k views

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 ...
0
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1answer
141 views

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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4answers
2k views

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 ...
0
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1answer
33 views

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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4answers
121 views

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. ...
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8answers
9k views

Auto-pay credit card from checking account: Bad idea?

Many credit card companies offer customers to make their payments via automatic direct debit from their checking accounts. Is this potentially a bad idea for cardholders? One thing that concerns me is ...
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3answers
203 views

How do I remember to use Visa Signature benefits, such as extended warranty on purchases?

My bank has upgraded my credit card to a Visa Signature card, which comes with benefits such as Warranty Manager Service (up to one additional year of warranty), Purchase Security (reimbursement for ...
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3answers
136 views

What proactive measures can be taken before or when a lender closes your credit card?

A blogger and contributor here recommended Digital Federal Credit Union (DCU) as a possible lender in my search for cash secured credit cards to establish my credit history, and I got approved for one ...
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9answers
1k views

Is it bad etiquette to use a credit or debit card to pay for single figure amounts at the POS

This question might be subjective, but I would like to listen to opinions, if possible. Ever since I got mugged on campus, I only carry enough cash to pay for bus travel. All other payments are made ...
4
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1answer
401 views

How do credit card companies track your purchase categories?

I've seen a few responses scattered on the internet that attempt to answer this but they seem to disagree on the matter. When dealing with cash-back credit cards, they offer different percentages for ...
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3answers
3k views

Is it a bad idea to have 3 secured credit card accounts open?

I initially signed up for a Wells Fargo cash secured credit card, last month, but lately with their changing the ToS and extra fee, I am worried about my choice. People have asked me not to close ...
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4answers
2k views

Why do credit cards require a minimum annual household income?

When applying for a new credit card recently, I saw that different cards require different amounts of minimum annual household income. In the link above, for example, a TD Drivers Reward visa ...
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3answers
4k views

Credit Card Expiration: Am I supposed to request a new one or does the bank send one automatically?

I've had one credit card expire recently and another set to expire soon. For the one that did expire, I didn't get another card until I wrote to them online and they mailed me a replacement. The next ...
4
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2answers
1k views

Ramifications of closing my Wells Fargo cash secured credit card only 3 months after opening

How do I continue using my Wells Fargo cash secured credit card once they change their ToS and start charging a $15+ monthly account service fee in addition to the $18 secured credit card fee from ...
4
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2answers
970 views

How bad would maxing out my credit card once a year affect my score

I just got approved for a $1500 cash secured credit card from Wells Fargo. This means I have no credit history whatsoever, and am going to use this card to establish one. With fall semester at ...
3
votes
1answer
100 views

How does it influence the credit score if the credit card was used in the past, but not in present

If I own a credit card and I used it for a while (say 6 months) and after that I decided to stop using the credit card and use my debit all the time. How will this influence my credit score? Being ...
5
votes
4answers
563 views

Can I get a discount on merchandise by paying with cash instead of credit?

I heard that if you offer to buy a car or a flat screen TV for example with all cash, you can usually get a discount instead of using credit. Is this true and has anyone tried it? I also heard that ...
3
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3answers
273 views

Can a credit card company raise my rates for making a large payment?

I have a credit card balance of 10,000+ dollars with an interest rate of 14%. If I cut the balance down to 3000 with one payment, can the credit card company increase my interest rate because they ...
15
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10answers
2k views

Snowball debt or pay off a large amount?

I recently received a large amount of money, well large in my eyes, around 5000 dollars. I have the following cards: $10619 citi card ($234.35/month) $2500 Best Buy Card - deferred interest ...
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5answers
6k views

Can I increase my credit limit by transferring money to my Credit Card account?

I have a credit card with a credit limit of $1000, but I would like to make a purchase of $1500. If I transfer $500 into my credit card account, would that increase my credit limit to $1500?
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2answers
1k views

If spouse is already an authorized user, can they get their own credit card?

I signed up for a Citi credit card and in the application added my spouse as an authorized user so she could use it while I am away and we could meet the spend requirements (it's a mileage card). If ...
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vote
1answer
426 views

How do you reject (dispute) a credit card debit transaction in India?

Have you ever been able to successfully reject (dispute) a transaction on your Indian credit card on the grounds that you did not authorize it? (results in a charge back to the merchant). How do you ...
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3answers
1k views

Is there any inherent difference between Visa and Mastercard credit cards?

Are there any inherent differences between a Visa credit card and a Mastercard credit card? Obviously, there can be huge differences between one Visa card and another. And between one Mastercard and ...
15
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5answers
2k views

Is 0% credit card utilization worse than 1-20% credit card utilization for any reason other than pure statistics?

Much of the information I stumbled accross (including a short article written by an esteemed member of this site) around the internet indicates that having a credit card utilization of 0% is a ...
4
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1answer
65 views

NFCU credit card rates are locked by government ruling?

I keep calling Navy Federal Credit Union asking for a credit card rate reduction, but they tell me that they "haven't gotten permission from the government yet" to unlock the rates. They say it was ...
9
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3answers
220 views

Does getting more credit or credit cards improve your credit score?

I'm reading Ramit Sethi's I Will Teach You To Be Rich, and one of the tips from the first chapter is to apply for more credit card debt. He warns it's only for people like me who carry no credit card ...
4
votes
2answers
138 views

Should I look up my credit report or score before applying for a credit card?

Right now I have two Credit Cards, Amex and a Visa through Wells Fargo. I am planning changing over to Chase Freedom card for their 5% cash back. Part of the sign ups, depending your your credit, can ...
3
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6answers
255 views

Can business in Australia charge a transaction fee for using a credit card?

Related to the question of whether a merchant can charge you more if you want to use a credit card, I'm wondering if this is a common practice in Australia (and if the question I just linked to is ...
3
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3answers
94 views

Where do I get the best interest rates on a loan?

What do you think about Peerform, Lending Club, and Prosper in relation to these other Banks, credit unions, etc.? I am looking for a debt consolidation loan and I have a decent FICO ~700.
4
votes
2answers
148 views

Change visa card type without changing number

Is it generally possible to change a credit card from one "specialty" to another, without changing the credit card number or expiry date? For example, is it possible to switch from a TD Drivers ...
8
votes
4answers
220 views

I want to buy a house in a few years, what should I do now to improve my bad credit?

I have bad credit, score is in the mid 500s, and I have been paying off old debt accounts. There are still a few left to pay, but what I want to know is what will raise my credit score, how much can ...
4
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1answer
1k views

Which banks / companies offer virtual or instant credit card services in the UK?

I'm looking to make a small number of hotel and guest-house reservations, and thought that generated credit card numbers with defined limits would be a good idea. Which companies provide such ...
9
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5answers
897 views

Is there a fee if you used your debit card as credit card?

Is there a fee if you used your debit card as credit card? I see people recommending to always run debit card transactions as credit. There is a similar question here as well: What does it mean to ...
4
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6answers
2k views

Is it better to spread debt out on multiple credit cards or consolidate it to just a few?

Is it better to spread out my credit card debt so that each of my cards is at around 30% of my limit or is it better to consolidate it all to just one or two cards even if these end up being at close ...
2
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2answers
124 views

Are Credit Cards a service to banks?

Well, as i have already claimed, i have limited knowledge on finance, but i do try to learn more things. Now, it's the de facto thing that banks love to lend money. As i see it, with a debit card, ...
4
votes
2answers
134 views

What is the best credit card for a college undergrad to get?

I have practically no income right now, but my parents are willing to periodically transfer me money to cover my purchases (I'm an undergrad so my focus is on studying as much as possible for now). ...
5
votes
3answers
453 views

How can a freelancer get a credit card? (India)

I work freelance for clients, in other countries, and paid via Paypal and other methods. When I applied for a credit card in my country, it was rejected. They mention as I don't get a salary and I ...
4
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5answers
490 views

What is a good way to keep track of your credit card transactions, to reduce likelihood of fraud?

I hear of scams where people take your credit card number and then just occasionally take out $20 here and there. On your statement it'll just look like something innocent to make it look like a trip ...
5
votes
5answers
685 views

Should credit card payments be broken up into amounts smaller than $10K?

As mentioned in this answer about bank transaction reporting, a Cash Transaction Report (CTR) will be generated for deposits (or all transactions?) greater than $10K. So, there are two parts to this ...
5
votes
4answers
344 views

Can I cancel a credit card without negatively affecting my credit?

Some background: I have no debt, have never carried a balance on the card, and have never used more than 10-15% of the credit limit per month. I'd much prefer to pay with debit/cash, but I got the ...
35
votes
5answers
4k views

Pay online: credit card or debit card?

I have a credit card and a debit card. I could use both to pay online. Credit card is only a bit less convenient since I have to transfer the money back in the credit card account later. Is it safer ...
7
votes
1answer
190 views

How does one's personal credit history affect one's own company's credit rating?

Quick background: I have no intention whatsoever on actually getting any loan. However, to accept online credit card payments (eg. via Paypal Payments Pro), merchant account providers determine ...
2
votes
2answers
435 views

How to pay rent using a credit card?

I am currently paying rent using personal cheques. Is there a way to route the payments through my credit card so that I get the travel points associated with the credit card? I will pay off the ...
6
votes
3answers
1k views

Are there any consequences to having a negative balance on a credit card?

I have two credit cards, a VISA and a MasterCard. I primarily use my MasterCard and only use my VISA when MC isn't accepted. I went about 18 months without using my VISA (I didn't use it at all in ...
3
votes
1answer
132 views

Prepaid travel credit cards: Is there a low-cost card supporting top-up in multiple currencies, without conversion fees?

With reference to the CantonFX cards http://www.caxtonfxcard.com/cards_description.asp Which card do I use if I need to use multiple currencies at the lowest cost & I only want to carry one card? ...
8
votes
4answers
164 views

How do you get a lower interest rate on your credit card?

I have a credit card that I am currently paying 14.24% interest on a balance. I'm working on paying the balance off. In the meantime, what's the best way to lower the interest I'm paying on the ...