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.

Filter by
Sorted by
Tagged with
147 votes
8 answers
28k views

Oversimplify it for me: the correct order of investing

I have been reading the top posts here, and the recommendations for what to invest in are often similar. What I'd like to know, in as simply of terms as possible, is what the consensus is on priority ...
user avatar
  • 1,581
112 votes
13 answers
28k 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 ...
user avatar
  • 1,045
100 votes
14 answers
11k views

Should I finance a new home theater at 0% even though I have the cash for it?

My wife and I are considering buying a home theater - plasma TV & new stereo - on Black Friday this year. We do have the cash for it, but Best Buy is offering 0% financing for up to 3 years on ...
user avatar
  • 1,161
97 votes
9 answers
20k views

Do people tend to spend less when using cash than credit cards?

I know this is a popular theory on this site and finance blogs/media in general, but I'd like to know if there is any reliable research on the subject. I can share personal experience that makes me ...
user avatar
  • 115k
94 votes
6 answers
24k views

Why do credit cards have their number and CVC code printed on them for all to see?

Ever since online commerce became a reality, it was sufficient to know the credit card number, expiration date and CVC code to purchase anything online. Things are slowly changing as MFA is getting ...
user avatar
  • 5,503
89 votes
7 answers
23k 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 ...
user avatar
80 votes
4 answers
24k views

Bank claims debit card was physically scanned - half a continent away. What could have happened?

I have had the same debit card for several years, and I've never had a problem with any fraudulent charges until yesterday. I am careful about where I use my debit card number online, and I am fairly ...
user avatar
  • 1,063
78 votes
9 answers
15k views

Should I sign the back of my credit card?

When getting a new credit card, what is the policy in regards to signing the strip on the back? Should I sign it? Should I write "See ID"? Should I leave it blank? Should I sign it AND write "See ID"? ...
user avatar
75 votes
6 answers
17k 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 ...
user avatar
  • 1,125
70 votes
4 answers
14k views

MasterCard won't disclose who leaked my credit card details

I was recently informed, by the payment processing agency of my bank, that an online shop was compromised and that as a precaution my MasterCard credit card was frozen and replaced. There was no ...
user avatar
  • 603
66 votes
7 answers
14k views

Is there a "catch" on my "increased credit limit"?

Today I received a letter from the bank that issued my credit card. Basically it says that, since I'm "one of their best customers" my credit (card) limit has been increased. This is the second time ...
user avatar
  • 771
66 votes
11 answers
32k views

Should I open a credit card when I turn 18 just to start a credit score?

I spend about $20-30 a week on my debit card, with periodic $200-300 purchases every few months. I've thought about getting a credit card the moment I turn 18 and using it to buy everything, then ...
user avatar
  • 825
65 votes
4 answers
26k views

Is this person wanting to pay my credit card trying to defraud me?

A friend of mine is in another state wanting to pay my credit card. He says he needs my credit card number, name on card, username, password, and card limit. Is he trying to defraud me? Or does he ...
user avatar
  • 673
60 votes
15 answers
22k views

Credit card details stolen every 1-2 years. What am I doing wrong? [duplicate]

Background I just had my credit card canceled because of fraud. This is actually a perfectly normal occurrence for me, which is the impetus behind this question. The card in question was only about ...
user avatar
  • 681
57 votes
8 answers
21k views

Can I become debt free or should I file for bankruptcy? How do I manage my debt and finances?

I am 35 years old, single, and live in the US. My income is 78K to 80K after taxes and insurance. I pay $1,500 for rent+utilities, $150 for phone bill, $450 for auto loan, $300 for auto insurance (...
user avatar
  • 795
57 votes
7 answers
13k views

Should I use a zero-interest credit card for a large one-time purchase?

An upcoming purchase (nearing $10,000, in the US) would drain savings more than I'd be comfortable with, and I'm wondering if using a zero-interest card to effectively spread out that purchase for 15-...
user avatar
52 votes
11 answers
22k views

Why auto-renew instead of canceling the subscription after free-trial?

Almost all companies give you a 7/14/30 day free trial to try their service (eg: Netflix, Spotify). Some people forget to cancel the subscription and after the free trial expires, these companies ...
user avatar
50 votes
7 answers
28k views

Didn't apply for credit card but got an application denied letter?

I was recently forwarded a letter by the owner of my old address that turned out to be from a credit card company, informing me my application had been declined. Ignoring that this letter was sent to ...
user avatar
  • 1,052
49 votes
8 answers
17k views

Paying off debt and living within means vs. long term planning

My husband and I are divided as to the best way to handle our current financial situation. First, a little background. We are in our high 20’s, have been married for six years and have three kids. ...
user avatar
  • 617
49 votes
8 answers
12k views

How were US credit cards verified in-store in the 1980s?

Back in the 1980's, many major retailers in the United States would accept credit cards using what was sometimes called a "knucklebuster" - a hand-operated device that would take a carbon-copy ...
user avatar
49 votes
12 answers
10k views

Is it ever a good idea to close credit cards?

I have a bunch of credit cards with no balance, while others have fairly high balances. I'd like to close the 0 balance cards, but I know that will reduce my overall balance and hurt my credit rating, ...
user avatar
  • 625
48 votes
10 answers
22k views

I have 9,000 cash. What debt should I pay first?

I have 9,000 cash right now and I want to use it to pay some debt. It won't cover all, but I want to spend it on the best way possible. These are my current debts: Loan balance 3,867.35 - 23.55% ...
user avatar
  • 491
48 votes
7 answers
14k views

Can one live in the U.S. and not use a credit card?

The title may not be very accurate. I'm European (Italian) so I don't have a very clear idea of how it works in U.S. My understanding (correct me if I'm wrong) is that the economy there incentivises ...
user avatar
48 votes
12 answers
12k views

How can sister protect herself from impulse purchases with a credit card?

My little sister is 18, and currently has a bank account with a debit card. She and mom believe it might be time to get her a credit card, mostly to build up her credit rating than out of necessity. ...
user avatar
  • 463
48 votes
12 answers
15k views

What are the pros and cons of a credit card for a European?

I have a bank account, with some savings. Enough to cover every expense I could have to face without delay. I also have a debit card, which I use for my offline payments, a Paypal account for most of ...
user avatar
  • 539
48 votes
9 answers
20k views

How do credit card companies make profit?

How do credit card companies make profit by giving us credit for 40-50 days (India). I purchase something on my credit card and I pay it to the credit card company after some days. How are they going ...
user avatar
45 votes
10 answers
20k views

I won USD 50K! Now what should I do with it?

I won a sweepstakes and will be getting USD 50k...it is verified that it is legitimate although no taxes have been taken out so I will have to claim this income on my taxes next year, they will send a ...
user avatar
  • 460
45 votes
16 answers
13k views

The Benefits/Disadvantages of using a credit card

Recently I was approved for my first credit card, and I was trying to find out the exact repercussions that using it would have on me, and my credit. For now I've only been using the credit card for ...
user avatar
  • 1,589
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 ...
user avatar
  • 543
41 votes
7 answers
13k views

Credit card offering 0.5 miles for every cent rounded up. Too good to be true?

I just received an offer on my credit card (Barclays Aviator, if needed to verify). The offer (Flight Cents) is as follows: I can choose a limit every month ($1 to $500) Every transaction during a ...
user avatar
41 votes
13 answers
11k views

How can a client pay me for freelance work if I don't want him to know my name and he is uncomfortable using bitcoin?

I've been contacted on a specialized Internet forum and offered a well-paid one-off job to translate a highly specialized text, and I'm happy to accept the offer, but there's a problem: I have always ...
user avatar
  • 513
41 votes
8 answers
6k views

How much effort (and why) should consumers put into protecting their credit card numbers?

The more I think about it, the more it seems to me that credit card information is among the least worrisome type of personal information belong to any consumer. If someone's credit card number is ...
user avatar
  • 3,267
41 votes
7 answers
16k views

Is it legal to use cash pulled from a credit card to pay the monthly payment on that credit card?

I've got a buddy who is having problems with credit card debt. He had a small business go sour on him and ended up with about 35K of debt that's he struggling to keep under control while looking for ...
user avatar
  • 596
41 votes
4 answers
8k views

Why do VISA "Electron" and Master Card "Maestro" cards have special limitations in when they technically work?

Translated by me to English from Swedish, from VikingLine.se: We welcome payments onboard with the following cards: American Express, Diners Club, Eurocard, Finnish bank cards, Master Card, VISA. ...
user avatar
  • 411
40 votes
14 answers
12k views

Why would someone get a credit card with an annual fee?

I currently just have a Visa credit card. A place I shop at doesn't accept them. I'm looking at getting a second credit card such as Mastercard. I am surprised by how many highly recommended cards ...
user avatar
  • 1,109
40 votes
5 answers
10k views

Do institutions have right to ask for your credit card security code and all other CC data?

A school wants my credit card data including a security code. They've sent me a form to fill in about my card. As I know security code is something that shouldn't be shared publicly. Should I provide ...
user avatar
  • 539
40 votes
14 answers
10k views

What are the reasons to get more than one credit card?

I currently have one credit card, and I was thinking of applying for another one since my current card is Amex, and not many stores support that, so I'm thinking of getting a Visa or Mastercard one. ...
user avatar
  • 4,314
39 votes
3 answers
64k views

My credit card company is asking for my current income citing "Federal Regulations"

So I received an e-mail today from a bank from whom I have an existing credit card as follows: To consider you for a future credit line increase, federal regulations require us to have your ...
user avatar
  • 51.6k
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?...
user avatar
  • 489
38 votes
8 answers
4k 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 ...
user avatar
37 votes
9 answers
12k views

Getting $10,000 and have $16,000 balance on two credit cards - How to allocate payments?

I'm getting a chunk of money - $10,000. I have 2 credit cards, each with $8,000 on them. Both have the same interest rate. Should I put $5,000 toward each of them? This way, would my monthly bills ...
user avatar
  • 371
37 votes
9 answers
9k views

Purpose of having good credit when you are well-off?

I notice people talk about credit scores for many things, but typically they are: Helping tools for mortgages; Ability to get better loans; Ability to get better financing options. The general ...
user avatar
37 votes
5 answers
22k views

How can a credit card company make any money off me? I have a no-fee card and pay my balance on time

How does a credit card company make any money off of me using their card if there are no fees associated with the card (I don't pay any extra) and I pay off my balance on time every month (so I don't ...
user avatar
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 ...
user avatar
  • 487
35 votes
4 answers
5k views

Can a merchant accept some Visa cards but not others?

I recently ate at a restaurant that accepts Visa but has a policy that specifically excludes accepting Costco Visa credit cards. I have never heard of such a thing. While the Costco Visa credit card ...
user avatar
  • 667
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. ...
user avatar
  • 465
34 votes
5 answers
15k views

My credit card was unexpectedly charged 1$, the merchant wants my SSN and personal data to tell me why, do I risk identity theft?

I received a phone message from my credit union's fraud detection department about a transaction for $1 that raised a flag. I called them back and was given the information recorded with the ...
user avatar
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 ...
user avatar
  • 7,845
34 votes
5 answers
7k views

Why don't you need to pay taxes on cash back bonuses?

I have a Discover credit card that pays 1% cash back on and 5% on select categories. My question is: why isn't that cash back "bonus" taxed when stuff like canceled debt (1099-C), interest (1099-INT), ...
user avatar
  • 3,527
34 votes
3 answers
264k views

What do the numbers on my credit/debit card mean?

I have the following visa card from comdirect.de: I guess: Number A is my credit card number. The 4 groups don't have a meaning. Number B: I have no idea. Might be my security code? Number C is my ...
user avatar

1
2 3 4 5
33