Questions tagged [credit-card]

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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387 views

How to cancel a credit card you currently have debt on if the bank won't respond?

Several months ago, I got a credit card from Santander. I've tried many times to get their app Santander Sign set up and after about two months, it finally worked. But I still can't sign in because ...
10 votes
5 answers
6k views

Does paying off all credit accounts worsen your score?

I am 60. I have a mortgage that's nearly paid off. I have also paid off all my cards, and my oldest cards were closed from lack of utilization. In order to protect my age of credit, do I need to not ...
0 votes
0 answers
94 views

I can't seem to make a payment out of my bank account. What can I do?

I am an expat living overseas. But I still make several purchase using my US credit card (Citi Card). Recently my electronic credit card payment (for my monthly bill) was returned with a code saying ...
38 votes
8 answers
13k views

Why are credit cards preferred in the US?

Where I'm from, credit cards are common, but they're not considered the main daily use-case, as opposed to debit cards. What are practical reasons credit cards are preferred over debit cards in the US?...
1 vote
3 answers
160 views

Opening first credit card and car financing

I just graduated and I'm about to start a new job in the US in September. I haven't had a credit card before and I would like to finance a car, which is $34k. My monthly salary after taxes will be $5k ...
0 votes
3 answers
270 views

I didn't use my credit card for one month and my credit score dropped 22 points. Will it be fixed in the next snapshot?

I only use my credit card to buy gas. I couldn't use it last month because the gas station's credit card system wasn't working. My FICO Score 9 dropped from 842 to 820 in this month's snapshot. I ...
1 vote
4 answers
425 views

Does not the credit card company lose money by giving 5% cash back?

My credit card company gives me 5% cashback on my top eligible spend category up to $500 spent each billing cycle and 1% unlimited cash back on all other purchases. From my reading, credit card ...
8 votes
1 answer
4k views

Can I paypal myself to get free money? [duplicate]

This quarter my credit card [Discover offers 5% cashback for using Paypal. At the end of the year, it matches all the cashback that I earned and thus I will earn a total of 10% cashback for using ...
30 votes
4 answers
8k views

Free money loophole with rebate on CC cashback?

I went to a store and purchased a plastic bag (3 cents) and they allowed me to get $50 cashback and charged me $50.03 on my credit card. Later my credit card company gave me 5% cashback ($2.50) for ...
29 votes
4 answers
10k views

Did I discover an easy way to make money via PayPal and cashback credit card? If so, is it legal and is the money taxable?

Here it is: I send money to a family member via PayPal using my credit card, PayPal charges a fee but the cash back I get from the PayPal transaction exceeds the PayPal fee, my family member sends me ...
-2 votes
1 answer
140 views

Why do payment processors meddle with their business partners? [closed]

It's been in the news recently that payment processors are dropping their clients left and right, meddling with small businesses, and not being very upfront about it. In articles that mentioned why a ...
0 votes
1 answer
179 views

Can I dispute too many transactions? (credit card)

There's a restaurant here that's a hit or miss. Sometimes they mess up my order. Sometimes food sucks. But sometimes they're great and when they're great its really good. Maybe I'm a little addicted ...
1 vote
1 answer
149 views

What will happen if I remove myself as an authorized user of a credit card?

If I am an authorized user of a credit card for a period of time and the card owner has a good credit score and has a positive effect on my credit report, if I want to remove myself as an authorized ...
0 votes
1 answer
2k views

Ali Express and credit card frauds?

A lot of people around me claims that they have been victims of credit card thefts after shopping on Ali Express (one person even claims it happened several times). I am very sceptical to this because ...
3 votes
1 answer
5k views

Money owed to credit cards called "positive balances" or "negative balances"?

Q1) If my Visa credit card has a zero balance and then I charge something on the Visa, do I now have a "positive balance" or a "negative balance"? Q2) Same question for a utility account like a ...
0 votes
1 answer
97 views

Does a non-permanent resident of the US have to close their credit cards before they leave the US?

The background is the same as in my previous question: I'm in the US on an F1 visa (and this will be the case for the next two years). I'm not sure whether I will take the path of staying in the US ...
3 votes
2 answers
199 views

Should I pay credit card statement balance despite a refund?

Statement balance is $1000 Something I bought was refunded so actual balance now is $200 Am I supposed to pay $1000 or $200? If I pay $1000, my balance will be -$800 but I don't want this to happen ...
0 votes
1 answer
190 views

Credit card vs debit card for car rent

I want to rent a car in Europe and one of the requirement is to have credit card where they will block some deposit. It's higlighted that it should be credit card not debit. I have only debit card and ...
18 votes
18 answers
7k views

How do people with multiple credit cards keep track of their due dates and not miss payments?

I never spend more than I have and always intend to pay the full balance on my credit card statements. Because the due date changes and because they are different for each card, I sometimes forget and ...
36 votes
2 answers
6k views

How can I stop fraudulent recurring credit card transactions being forwarded to a new card?

I have a Mastercard credit card issued by a U.S.-based financial institution. Several billing cycles ago the card information was compromised and several hundred transactions were initiated. The card ...
0 votes
1 answer
68 views

If you pay off a variable APR daily accruing credit card before the end of the month, is there interest?

Can you avoid 100% of interest on a card that accrues interest daily, by paying it off in full before the end of each billing cycle?
1 vote
1 answer
142 views

Can a bank take money out of my account without asking, to collect old outdated debt?

Almost 2 decades ago I had identity theft and they maxed out my card. I lived with it (and terrible credit) and could not discharge it or pay it off. Some years ago this all fell off my record and is ...
0 votes
0 answers
95 views

Does a payment receiver get a full name of a cardholder when I pay with a credit card?

What information about a cardholder does a payment receiver get when paid with credit card via direct transfer. Examples: Spotify, Netflix, etc... How's all buying digital goods process released?
0 votes
2 answers
59 views

How to make sure that online/ATM/POS card payments always use one currency?

Anonymous payments through Paypal, ATMs, POS machines constantly offer me alternative currencies for my MasterCard or VISA. For example, Paypal will just bill me in the alternative currency even if I ...
0 votes
2 answers
296 views

Is there any catch in life time free credit cards against fixed deposits?

Many banks have offerred me life time free credit cards because of my good credit score. However, there are some banks which did not offer any life time free credit card. However they offer credit ...
8 votes
5 answers
6k views

Is there a way to bypass POS Credit Card processing fees?

Summary: If you have a shop and you accept Credit/Debit cards like Visa, Mastercard, Maestro, American Express, etc., you have to pay a fee. Is there any way to keep accepting those cards without ...
1 vote
1 answer
79 views

What do the various types of APR mean on my credit card?

I am looking at APR details and want to understand how it works. I see a credit card that says: Introductory APR - 0% for 15 billing cycles Standard APR - 14.74% - 24.74% variable Balance Transfer ...
3 votes
2 answers
405 views

Is donating money to charities / non-profits with a credit card considered a cash advance transaction?

I'm UK based. I know that credit cards charge extra cash transaction fees for not only getting cash from the ATM but also for things which are not quite cash like crypto, gift cards or gambling. Is ...
0 votes
2 answers
130 views

Question regarding credit cards and their fees

I have never owned or used a credit card before. I have only used a debit card and other non-debt/non-credit forms of payments online. I am thinking for applying for a credit card, but there are some ...
3 votes
0 answers
233 views

Reapplying for same credit card after collections

My Amazon's Chase credit card bill was sent to collections in March 2019 due to some financial issues I had. I paid off the debt completely in collections and my credit rebounded. My credit card ...
0 votes
1 answer
317 views

Why have I started receiving pre-approved credit card offers for strangers?

I've been living at my current address for a couple of years now. It's not unusual to get mail for the previous residents, and as such I'm fairly familiar with their names and so on. In the last ...
0 votes
1 answer
428 views

14/45 day notice

On 1 March I receive the 45-day notification stating that higher interest rate will be charged on any new transactions made after 14 days from the date of the notice. On 10 March I made a $100 ...
34 votes
12 answers
9k views

How can I break the cycle of taking on more debt to pay the rates for debt I already have?

I'm 30, married, and have a 1.5-year-old daughter. My monthly on-hand income is 71,000 ₹ (INR). These are my monthly expenses: Home loan: 18,428 (Loan amount: 18,50,000. Number of EMI pending: 150. ...
1 vote
2 answers
140 views

Can I renegotiate desirable rates and terms on a paid-off credit card?

I would like to keep and use my business credit card, but I do not need it. I paid off around $10k today which took my balance to zero, now that my 0% introductory rate has ended. (The card is around ...
0 votes
2 answers
276 views

What is the point of a CVV on a credit card?

According to Google: A CVV is the three- or four-digit number on your card that adds an extra layer of security when making purchases online or over the phone. It serves to verify that you have a ...
1 vote
1 answer
119 views

Must the Credit Card Issuer refund Card Holder, for deposits paid to a Merchant that later bankrupt?

Presuppose that a Card Holder charged or debited her credit card, to pay deposit money to a Merchant company for a good. But then Merchant bankrupts, before Card Holder ever obtains the good. ...
4 votes
2 answers
365 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 ...
2 votes
2 answers
23k views

Is it possible and what happens if you go over the limit of a prepaid American Express credit card?

I have a Prepaid American Express credit (gift) card of value $100. I have used it a few times and don't remember the remaining amount. Let's say I can't find out the remaining amount. Is it possible ...
19 votes
3 answers
5k views

What is happening every time I pay my credit card? Am I 'settling' with my bank, the credit card company, or another entity?

I understand that credit cards extend credit to customers. And that purchases incurred before the credit balance is due are nothing more than IOUs to the bank issuing the card (and also the card ...
2 votes
2 answers
121 views

If I request a chargeback on a purchase because a company went bankrupt, who foots the bill?

One reason people often cite when advising to make purchases with credit cards is the ability to issue a chargeback in case of problems. A common example would be buying airline tickets and then the ...
19 votes
6 answers
3k views

What should I do with my credit card debt?

I have almost $20,000 in credit card debt and, though I have stopped accumulating it for quite a while now, I'm trying to figure out the best way forward. Can someone please offer advice based on this ...
0 votes
1 answer
95 views

Can I get a replacement credit card to overseas if I didn't activate the credit card account?

I'm overseas. I apply for a new credit card. I already have one credit card from this bank. My address is the address on file. US residential. There's no one there right now. They mail the card. I ...
1 vote
0 answers
60 views

Can my wife use my income/credit card to buy products for her self-employed business (UK)

I am in full time employment in the UK (and have no other sources of income). My wife does not currently work (since having children). She will shortly be registering as self-employed/sole-trader and ...
0 votes
3 answers
216 views

How much credit can one get with a low-paying job?

My late brother owed me a fair amount of money, mostly a mortgage currently valued over $400K. He said (in writing) that I would be paid by his widow out of his $500K life insurance. His widow is the ...
28 votes
5 answers
9k views

A stranger messaged someone I know via an online listing and gave them their credit card details and encouraged them to use it. Is there a scam here?

A family member of mine (female, not sure if that's relevant) was contacted via a listing on Facebook for an item of clothing by a someone (male) who then sent through their credit card details. The ...
34 votes
5 answers
8k views

Credit card replaced due to fraud, new card has exactly the same information as the old one. How does this address the fraud risk?

My credit card company detected fraud on my account. They contacted me about this fraud, we identified fraudulent charges. I was also told my current cards on the account would not work and I would be ...
44 votes
14 answers
11k views

Would I ever need credit card if my debit card is issued by MasterCard/Visa?

My debit card is issued by Visa, but MasterCard AFAIK doesn't differ in that case. I can use it to pay in shops, online, to reserve place in hotel etc. I manage to constantly have enough money on ...
7 votes
3 answers
17k views

How long after new employment before applying for a new credit card?

I am a recent grad and new employee. I currently only have a $500 student Visa credit card with my current bank branch (2 years). I began my employment at the end of January (just over 2 months ago) ...
3 votes
3 answers
204 views

What's the difference between a soft and hard credit check?

I understand that hard credit checks negatively impact a person's credit score. Why would it work this way, because it's seen as a negative thing to be applying for credit cards too often? Even then ...
-2 votes
2 answers
166 views

Can I change my payment method after I made a payment in a restaurant with a credit card?

I have different credit cards and they give me different cashback rates depending on the category. For example, I get 5% cashback from dining with credit card A but only 1% from dining with credit ...

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