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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3answers
3k views

How can banks afford to offer credit card rewards?

I understand Visa and MasterCard make money on transaction fees, but how much (if any) of those fees do banks see? Do banks make money on people who pay their bills on time, or are reward programs ...
4
votes
2answers
140 views

Is it good to get 2 credit cards for different bonus?

I currently have a pretty plain credit card, the First Tech Platinum, but I was thinking that I don't really get much out of it, so I started to looked into other cards with better rewards, and cancel ...
1
vote
1answer
5k views

How can I switch my credit card to another issued by the same bank, keep my credit history, and get the sign-up bonus for the new card?

I have one card, but would rather have another - they're issued by the same bank. I don't want both of them because they both have annual fees and I want to keep only one card with an annual fee. ...
11
votes
6answers
463 views

What's the difference when asked for “debit or credit” by a store when using credit and debit cards?

When purchasing something in a store with a credit card or a debit card, the cashier may ask "credit or debit"? I was wondering what the point is using a credit card in a "debit" way? How is it ...
4
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2answers
4k views

Getting cash by using credit cards

What are some ways to borrow cash from a credit card? Are cash back and cash advance different functionalities? Is cash back the one when sellers asks customers/cardholders on checkout for purchases? ...
3
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3answers
1k views

Will getting a second credit card help my credit rating?

I've heard that getting a second credit card can help your credit rating. I am wondering if this is indeed true. If so, why is the case? Much thanks in advance!
6
votes
2answers
189 views

Help understanding credit card interest

I have a credit card with an outstanding balance and I am trying to work out when I will complete paying it off. It is a UK credit card (where I am based) and I do not spend on it. I pay 150 per ...
5
votes
2answers
226 views

Canceling a credit card with recurring/automatic payments

I am canceling a credit card because I am extremely unhappy with the bank. I have several recurring pledges and donations linked to this card. Do I need to contact each organization individually and ...
2
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2answers
138 views

How frequently should I request additional credit?

Assuming I simply want additional credit to improve my credit utilization ratio, how frequently (how long between requests) should I request the credit increases? What negative consequences should I ...
1
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1answer
111 views

To what extent should I seek additional credit? How much is enough?

I currently have 2 credit cards, each with a $2500 limit. I rarely exceed 20% utilization over the course of the month, and I don't expect any increase in expenses over the course of the next year ...
4
votes
2answers
449 views

Are there any advantages to a credit limit increase as opposed to a new card?

A credit card I currently use offered me a credit limit increase. The current limit is $2500; I rarely spend over $500 on that card. Let's say you have a legitimate reason for wanting more credit. ...
7
votes
3answers
8k views

Will it hurt my credit to accept a credit limit increase?

I got an email from Citi offering me a credit limit increase on my 4 year old card: Subject: Good News About Your Citi Card - Please Open Immediately It's our job to make sure your Citi card is the ...
4
votes
1answer
777 views

Closing a credit card with an annual fee without hurting credit score?

I took a hit on my student loans when I graduated into an economy without work, so my credit score went into the tanker a bit. Since then I've been making all my payments, everywhere, on time. Now my ...
6
votes
3answers
10k views

Should I close my BestBuy Credit Card? Will it affect my credit score and history?

I was young and stupid and opened up a Best Buy credit card 5 years ago. I bought a new laptop and also a lot more stuff during these 5 years. I have bought over 10,000 dollars worth of stuff and paid ...
3
votes
2answers
56 views

Site to find out which card to use for specific purchases

I've got a couple of large purchases coming up (thousands of dollars). I plan to use credit card for that - I have the money for it, but various credit cards have 1% to 5% cashback bonuses, and with ...
4
votes
3answers
4k views

How do I avoid paying for an item that I was refunded for on a credit card when the payment due date is coming up?

I purchased an item which the merchant then refunded to my credit card. However, the payment due date is coming up, and my credit card has still not been credited with the refund on my credit card ...
8
votes
2answers
177 views

Credit Consolidation, Credit Settlement

I've done a little research but I would like to have actual feedback from people. I am currently behind on credit card payments and I am not sure exactly what to do. The interest rate is high and I do ...
7
votes
4answers
483 views

What are the advantages of using credit card to pay most of expenses?

If I will pay most of my expenses via credit card, then is it correct to assume the following points? 1) My saving account interest rate will increase by somewhat (interest is calculated upon ...
2
votes
2answers
920 views

Is there a way to immediately see credit card transactions in a mobile app?

The Simple app immediately shows transactions as they are made. I'd love to have this for my credit card too. I think I can get 80% of what I want with Mint. What other options are there? Are there ...
3
votes
1answer
82 views

Rewards credit card for large repeating purchases in Australia

I have no revolving credit card debt: I pay it off every month. I also have a significant throughput of charging/paying off, including a large repeating medical cost that will be at least $3000 every ...
5
votes
2answers
89 views

How to decide which credit card to apply for?

I am researching for a travel credit card. I don't fly frequently, but I spend around $2000-3000 at max/year (domestic and international) in air fare. Should I go for a travel card, do I even need ...
6
votes
2answers
15k views

Why is there a delay on credit card transactions showing up on my online statement?

If I make a purchase with my credit card there is a delay of a few days before it shows up on my online statement. If I make a purchase with my debit card it usually is displayed that day. Why the ...
6
votes
3answers
3k views

Is it a good idea to ask for a credit limit increase on a new credit card?

I just opened a credit card like a month ago. I have another credit card that I've been using for about a year now. But I was wondering if it is a bad idea that I raise credit on the new credit card ...
4
votes
2answers
831 views

Should I keep online bill-pay confirmation numbers?

I pay some bills/credit cards via website or over-the-phone payment systems. These systems give you a confirmation number/reference number. Is there a point to recording these confirmation numbers? ...
25
votes
8answers
1k views

Optimal way to use a credit card to build better credit?

I have a credit card with a $700 limit and I am curious how to optimize credit gain with it. Right now, I use it once a month (usually on something small like a drink from a convenience store or ...
4
votes
3answers
114 views

How can I use my low credit card rate to save interest on my student loan payments?

I have student loans at a rate of 6.55%. I have zero credit card debt - and have a card with a rate of 6%. I have a comfortable amount saved for emergencies and have some extra income that can go ...
2
votes
2answers
1k views

How much interest will I pay on my credit card?

I'm about to move to the US and I'm wondering: say I always keep an active balance and never overdraw/accumulate debt, will I still pay interest on my monthly expenses paid via credit card? For ...
1
vote
1answer
107 views

Are Square Tabs secure?

My barber takes credit card payments using the Square reader and his iPhone. I get the receipts via text message. The text messages include a link to the Square site that allow me to create a "Tab" ...
7
votes
4answers
136 views

When does credit card counseling work?

I have a friend who has $18K in credit card debt and makes $25K a year. I think this person needs help, and I've thought about recommending credit card counseling. However, I've also read articles ...
3
votes
2answers
212 views

What happens when shifting debt between multiple credit cards? [duplicate]

Possible Duplicate: Is it OK to use a credit card on zero-interest to pay some other credit cards with higher-interest? Is it possible to pay off the balance of one credit card using ...
8
votes
6answers
650 views

Is it OK to use a credit card on zero-interest to pay some other credit cards with higher-interest?

I was reading up on What is the difference between "good debt" vs. "bad debt"? and it says borrowing money from a credit card is a bad-debt. So, I was wondering if the credit card ...
7
votes
3answers
1k views

Is interest of credit cards caculated based on the amount unpaid within the grace period?

From Wikipedia if a user had a $1,000 transaction and repaid it in full within this grace period, there would be no interest charged. If, however, even $1.00 of the total amount remained ...
1
vote
1answer
159 views

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 ...
7
votes
3answers
1k views

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 ...
2
votes
2answers
558 views

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?
0
votes
1answer
98 views

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 ...
6
votes
6answers
1k views

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 ...
0
votes
1answer
350 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 ...
0
votes
1answer
3k views

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 ...
4
votes
2answers
2k views

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 ...
12
votes
5answers
5k views

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 ...
1
vote
1answer
182 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 ...
0
votes
1answer
67 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 ...
1
vote
3answers
7k views

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 ...
2
votes
3answers
226 views

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 ...
3
votes
1answer
324 views

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 ...
-1
votes
1answer
180 views

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 ...
8
votes
2answers
274 views

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?
4
votes
2answers
148 views

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 ...
1
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2answers
195 views

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. ...