Stack Exchange Network

Stack Exchange network consists of 174 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers.

Visit Stack Exchange
Join us in building a kind, collaborative learning community via our updated Code of Conduct.

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.

-2
votes
0answers
39 views

credit line increases [on hold]

Increases in credit lines don't seem to be good have large amount of open credit and only one card that has a bal. over 30 days 0 % when I started to call and decrease these they lowered my score from ...
25
votes
9answers
14k views

Is it legal to invent “artificial” bills to build credit?

EDIT: This question was based on a misunderstanding of how credit is built. However, the concept of moving money on a credit card without spending anything still has other potential benefits (such as ...
0
votes
1answer
43 views

Can my other Chase credit card points use the 3x multiplier of the CSR card?

I have two chase credit cards with over $300 worth of points and will open another Chase card next month, the Chase Sapphire Reserve (CSR). I am wondering if my existing Chase points will get the 3x ...
1
vote
1answer
43 views

How does a BIN database categorize cards as a combination of credit or debit and pre-paid?

On one of the BIN databases available on the internet upon will tell you whether the card is Credit or Debit and if it is a Prepaid card or not. So the possible combinations are: Credit Debit Credit ...
4
votes
1answer
110 views

Credit card - with what delay can it be charged?

Assume you buy something and pay by credit card. Does anybody know how much time the vendor has to charge your card? Is it still legal if the vendor doesn't charge you immediately, but after months? ...
3
votes
1answer
197 views

Credit card transaction still not shown after 10 days. Does it time out? Is it my luck?

Ten days ago, I paid for food on a train. I paid by credit card, signed the receipt (old style), and received my food. So far so good. On my online statement, this transaction does not show ten ...
9
votes
9answers
4k views

What is the easiest way to know if I'm paid up on my credit card?

My credit card has two balances, like I believe most do, the statement balance and the current balance. I'm aware of what both these mean. Each month I pay my statement balance off completely to avoid ...
0
votes
1answer
84 views

Transferring personal debt from startup costs and operations to a corporation

For a long time, I've been a one person startup, and have just bundled all business costs - presenting at conferences/travel, office rent, hardware equipment purchases, etc., to my personal account. ...
2
votes
1answer
181 views

Get a credit card for my immigrant wife, or keep her off the books?

My wife is a recent, legal immigrant to the US. I am considering getting her a credit card. I know this may be difficult because she has no credit, but I might be able to work something out with my ...
2
votes
3answers
322 views

Switching from debit cards to credit cards for incidentals

Right now my spouse and I are using debit cards, connected to checking accounts, for our "extras". There's never very much in either of the checking accounts. I wonder if we'll be more secure ...
1
vote
1answer
175 views

Who loses money stolen and laundered via an app platform (Steam)?

Imagine a scenario like: 1. Hacker steals credit card info. 2. He uses stolen card to buy virtual assets on Steam. 3. He sells these virtual assets to other unsuspecting players in exchange for ...
7
votes
1answer
205 views

Do card chips expire before the cards do?

A while ago, I got a credit card with a magnetic stripe and a chip that looks like this: A couple months ago, I noticed that every time I tried to use the card, I would get something like "CHIP ...
-1
votes
1answer
121 views

Is it normal for a travel agency to ask for a photocopy of my credit card?

I'm currently trying to get cheap plane tickets for a complex trip with a lot of stops, the only way to get the flight with one payment is to go to a travel agency. I'm doing this through a third (...
0
votes
1answer
60 views

Closing a New Credit Card for Credit Score

I have 4 credit cards, and 3 of them are about 4 years old and 1 of them is less than a year old. I noticed that my FICO-8 went down by around 20 points since I got the new card and it hasn't gone up ...
2
votes
1answer
565 views

Why do most cards now (debit, credit) have both chip and magnetic strip? [duplicate]

Why did financial institutions added chip to credit, debit cards while they already had magnetic strip? Is there different kind of information stored on both and how is chip card with magnetic strip ...
0
votes
4answers
185 views

Will this affect my credit

If I pay my credit card minimum balance a day before the due date but then use it again that day , does that affect my credit ?
0
votes
1answer
64 views

Understanding credit score

Probably a fairly generic question, but here it is. First, a very small background: I recently graduated in Europe and found a job in the US. I got the visa and everything, so now I finally moved ...
1
vote
1answer
46 views

Low percent vs moderate percent credit card limit effect on credit score

I was wondering if spending more (50-89%) or less (1-25%) of credit limit increases or decreases credit score depending on the amount spent on the credit card. I have recently turned 18 and became ...
4
votes
2answers
173 views

How to get an international zip code entered into a credit card machine

I have an international credit card that has a foreign zip code with letters in it. A vendor is complaining that he cannot enter letters into the machine. I think he just may be unfamiliar with how to ...
1
vote
1answer
68 views

Credit Cards: Cash Financing Charges

I have a credit card, where the terms and conditions have this to say about cash withdrawal: B. Cash Advance Fees The Cardholder can use the Card to access cash in an emergency from ...
17
votes
8answers
4k views

Trying to lower my credit card APR; how to know what I should ask for?

I have a B of A Cash Rewards credit card that I want to have the APR lowered. It currently hovers at 20.49%. I've been a B of A customer since 2007, I've had the credit card since 2012. From their ...
106
votes
13answers
24k views

Should I take out a loan to pay off a relative's credit card debt?

Recently a close relative revealed to me that she has run up $40,000 in credit card debt over the last few years, which she can no longer manage because the interest payments are eating up all of her ...
9
votes
3answers
3k views

Credit card minimum monthly payment

I am opening a new credit card and am not sure exactly what this clause means: Your Minimum Payment Each Month. Each billing cycle, you must pay at least the Minimum Payment Due shown on ...
2
votes
2answers
218 views

Is it rational that agencies downgrade your credit rating if you close a card?

Multiple sources say that if you have several credit cards with balances, and you pay down one of them, your credit rating will take a hit if you close that card. Now I know what the stated reason is ...
1
vote
1answer
73 views

What costs do banks incur on processing credit card refunds in foreign currency?

When a credit card transaction is in currency different to the one of the card, it is pretty normal for banks to charge a 1-3% fee associated with the currency conversion. Some banks do this by using ...
0
votes
1answer
61 views

Cancelling New accounts

My wife and I are both working on rebuilding our credit histories, with nothing really on them. I havent used credit in a decade, and my wife moved here from England 2 years ago. So to start, we got ...
-1
votes
2answers
165 views

How do you deal with amazon.com when trying to track credit card spending per category?

I am trying to put together a budget and one issue I see is that I have a lot of amazon.com transactions that I don't know how to allocate given I am not sure if these are gifts, home goods, etc. Is ...
1
vote
0answers
59 views

Are there any credit cards that allow you to set limits per spending category? [closed]

I am trying to track expenses per category and wanted to see if there are any credit cards that allow you to not only have an overall credit limit but the ability to put in place a credit limit per ...
-2
votes
1answer
57 views

notified of impending charges or autorenewal on credit cards [closed]

Isn't it a law that you be notified of impending charges to your card (in the US). Seems like I get them sometimes but not others. Especially when you sign up for a trial period and provide a credit ...
3
votes
4answers
166 views

Online Order Billed Amount Exceeds Invoiced Amount

I purchased an item online using a discount code, which was accepted by the website, and proceeded to purchase the product at a total of $227 using my credit card. I received a confirmation email ...
1
vote
2answers
158 views

Can/do banks share information about customers?

Is is possible or even common that banks share information about their customers with each other directly? Specifically, when one applies for a credit card, often there are questions about existing ...
0
votes
3answers
158 views

How to use credit card with balance on it?

I have a credit card that currently has balance on it past grace period. I am working on paying it out, but I also need it to pay for online purchases, etc. I know that once you are past grace period,...
-2
votes
2answers
603 views

Military man says he's in Syria he is working for US Army

How and what do I need to do. I did give my information on a credit card. He paid off my card and then asked me to get him itunes 100 dollars each of the full amount and send him the money. Is this a ...
0
votes
1answer
110 views

Roughly how long should I ideally wait to apply for a large car loan after increasing my credit card limit?

Back in March, I elected to increase my existing line of credit limit up to $2,000, which came with a reduction in interest (from 12.5% to 8.5%). Now, I'm in line to buy a car that I really want, but ...
-1
votes
1answer
127 views

Using credit on the day of closing date [duplicate]

Would it not affect my credit score if I use my credit card on the day of my closing date or a day prior the closing date?
2
votes
1answer
69 views

How long should someone wait to apply for a secured credit card after having been deliquent on a loan payment?

Someone failed to make payments on a college loan for an extensive period (8-10 months). Their credit score has, as a result, dropped to 550-575. They have since paid off their overdue balance and ...
0
votes
0answers
52 views

Unsecured line of credit maturity date

1.If you have a unsecured line of credit( 3 year $4800/$5000 limit) and change it to a 4 year line of credit , would the 4 year term begin when you redo loan or from the 3 years date? If you pay ...
9
votes
1answer
105 views

Card pre-authorization time limit

I've booked a hotel for a stay 8 months from now on a no-prepayment basis. As per usual, they pre-authorized my card; which makes me ask out of curiosity: Is there a time-limit to how much a vendor/...
1
vote
3answers
113 views

How to know which credit report / score will be consulted?

Question When you apply for a loan or a credit card, in the US, one credit report is pulled from one of the three "major" company: Equifax, Transunion, or Experian. Is there a way to tell which one ...
88
votes
7answers
19k views

What should I do about a dealer that took a deposit then sold my motorcycle to someone else?

I recently was interested in purchasing a motorcycle from a dealer but I was about to be out of town for a few days for a vacation. I called him and said I can make a deposit on the bike for $500. He ...
0
votes
0answers
130 views

Google financing and credit score in US

I would like to start creating credit history in US but because I don't have any and I'm new in US, no bank want to give me a credit card. I heard that Google financing is quite liberal when it comes ...
2
votes
1answer
339 views

what is the difference between 'Instant Pin Generation' and 'Credit Card ATM Pin'?

I just got my HDFC credit card. When i logged into net banking site to create credit card pin, i found two options in the site, Instant Pin Generation and Credit Card ATM Pin. To create Credit Card ...
0
votes
0answers
33 views

What happens if you pay off a credit card with deferred interest before the date, but then use it again? [duplicate]

What happens if you have paid off a Credit Card that had deferred interest to avoid the interest penalty, but you then decide to use it again? When that date comes around and it sees there is a ...
0
votes
3answers
119 views

How will having two active credit accounts with different balances affect my monthly credit scores?

I heard that with the new FICO model, they want you to spend ten percent or less of your credit limit to keep your scores from dropping. I recently applied for a second credit card, one with four ...
0
votes
0answers
53 views

Do credit card chargebacks apply to situations in which online retailer charges seller in favor of buyer?

This is the situation I have to deal with: One of the items I had listed with an online merchant sold. I shipped the item using standard postal service and provided buyer tracking information. A week ...
0
votes
2answers
79 views

how can i transfer money from another bank account into my credit card? [closed]

Hello Please how can i transfer money from another bank account into my credit card
0
votes
3answers
142 views

How exactly do balance transfers work?

I have two credit cards, one with a credit limit of $400, and another with a credit limit of $4,000. The one with the $400 is with US Bank, and the one with $4,000 is with Synchrony Bank. My US Bank ...
1
vote
0answers
57 views

How do credit card companies decide the credit limit of a newly issued card?

If someone is applies for a new credit card and gets approved, the credit card company will start them with a given credit limit. What is this limit based on? Is there a way to negotiate a higher ...
1
vote
3answers
173 views

Credit card pay back period calculation

What is the industry standard equation for calculating the payback period of a credit card? For example: Mark has a credit card with a rate of 17%. He has a balance of 5500 and a limit of 5500. If ...
0
votes
2answers
216 views

How badly is one's credit score affected if one stops paying one card but keep paying others?

I am in a very tight situation and I am wondering how the FICO score behaves if I stop paying 2 cards out of 4. How badly would it go down and how badly would it affect applying for loans at different ...