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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4
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2answers
148 views

Help on calculating credit card interest

Below is a summary of my current statement Apr 21 2019 - May 2019: The APR is 25.24% I had a promotional 0% APR till Apr 20. This is it google drive link I have tried my best to calculate the ...
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1answer
116 views

Are there any particular ways to use a secured credit card best? [duplicate]

I am using a secured credit card to build back my credit. Is there a particularly good way to do this? I know that a secured credit card will allow me to increase my credit score. But I'm not sure ...
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12answers
11k 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. ...
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677 views

UK - wife declined for credit card due to pregnancy

My wife was recently declined for a credit card based solely on the fact she is 6 months pregnant and will soon be on maternity leave. The scenario details are as follows: Application was made in ...
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1answer
118 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 ...
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1answer
201 views

What should I do if no party wants to act on fraudulent transaction

In reality, this problem was acknowledged and resolved by one of the parties, but I want to know what to do in theoretical future scenarios. My Airbnb account was recently hacked. I don't know why, ...
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1answer
110 views

What potential downsides are there to high-fee-but-get-a-travel-credit credit cards?

Some credit cards offer a deal like: Annual fee of around $450 100,000 frequent flier points (worth $1000) if you spend $3-4k in the first three months Get an annual travel credit worth about the ...
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1answer
190 views

Chinese Brother-in-Law in Debt Trouble - What can Chinese Citizens do to Manage?

My brother in law built up a large amount of gambling debt two years ago. I guess in an attempt to save face, he hid a portion - 75,000¥ ($11,187) from his family thinking he could pay it off himself. ...
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3answers
434 views

Should I take up offers to settle with credit cards

I have been getting offers to call and seek assistance to settle with credit cards. I have so far not considered these but have I missed a trick? Should anyone ever consider these under any ...
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2answers
173 views

When is the best time to begin the settlement discussion with credit cards to avoid bankruptcy?

I've read a variety of strategies on timing on settlement discussions with credit cards. The common one seems to be to try after first late payment, and then try again after the next. I have not had ...
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1answer
92 views

Credit card limit [duplicate]

My credit card has a limit of $6000. If I want to book a $7500 vacation on Expedia, could I put a negative $2000 balance on my card, so when I pay for my trip on Expedia, it will get approved.?
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93 views

Credit card debt

A Russian-Norwegian dual nationality person I know took up 20000 pounds of credit card loans in Norway. He then went back to Russia and has lived there for 1 year now. He has not heard anything yet. ...
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2answers
214 views

Is there a way to simulate credit score for settlement vs bankruptcy?

I'm considering either settlement or filing a Chapter 7 Bankruptcy for about $110k in credit card debt. However, it seems like both options will stay on your record for 10 years and also decimate ...
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2answers
135 views

Actual time of a credit card transaction

how can I find out the exact time my credit card was processed at a supermarket? My bank statement only tells me the day not the time
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7answers
12k 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-...
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1answer
32 views

Schedule C: Determine credit card interests expenses, line 16

How does one calculate credit card interest for schedule C, line 16? My wife has a home business and uses a credit card for the business. My understanding is that because we are using the cash ...
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1answer
113 views

When to make Credit Card payments on large balance with interest

Consider the following scenario: A credit card has a balance of $5000 that cannot be paid off at this time. Every week I earn $500 that is deposited to my bank. My monthly minimum payment is $200. ...
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1answer
107 views

Paying off credit card from savings or keep and contine with current credit balance [duplicate]

I'm having two credit cards with only 10% of worth credit limit available (Nearly full). I can pay off both cards with my savings and my savings would be zero or nearly zero. I'm wondering whats the ...
4
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1answer
208 views

Would gambling with a credit card negatively impact my credit score assessment?

To preface I do know that gambling is generally a waste of both time and money, and as such I do not gamble. Sometimes though I do match betting. For those that don't, know it is betting for an ...
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3answers
290 views

How can I fund my bank account with a credit card without paying interest?

Been trying to figure this out. I was thinking of setting up my own website selling a service and using paypal to accept credit card purchases,then using my credit card to "buy" the service off my own ...
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1answer
68 views

Source of Credit Card Payment as it relates to building credit

Does it matter as far as building credit if a student credit card bill is paid from the parents' checking account?
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1answer
342 views

Declaring bankruptcy vs just not paying off large credit card debts (no home, no car or large assets owned)

So I'm considering just letting my credit card debts go unpaid till they close. (The goal was to find some way to pay it off but I need to consider the worst possible case) The reason why I'm ...
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2answers
103 views

When is the best time to schedule a credit card payment date with Vanquis?

My credit card arrives in a few days so I am unsure of my statement date and payment due date, although I know I am able to change my payment due date. I am paid the 18th of every month and ideally I ...
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2answers
69 views

Visa balance transfer from one loan company to another

I have a Visa loan with company A that has an interest rate of 10%. Company B is offering to let me transfer my balance with A to them for a 12-month 0% interest rate. I know that company A also ...
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0answers
95 views

Paying by voice - what is its transaction type

When I purchase something through voice virtual assistant, for example order Pizza through my Echo-Alexa - is it written in card schemes (Visa/Mastercard) as a Card-Not-Present (CNP) transaction or it'...
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1answer
3k views

What can someone do with the last four digits of my credit card number, last four digits of my social security number, and my zip code?

I recently got a call from my “bank” telling me that there have been several fraudulent transactions on my credit card. Naively I believed them and gave them he last four digits of my credit card ...
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2answers
3k views

What is Cash Advance APR?

I just got my first credit card. I haven't spent anything on it but I see that the Cash Advance APR is 27.5%. Can someone tell me in layman terms what this means?
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1answer
62 views

Applying for Credit Card Under New EIN

I have established a new EIN for a sole proprietorship under my name. This business' purpose is to separate my ventures flipping and doing other projects that make money from my personal finances. I ...
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2answers
1k views

Is it safe to share the first six digits of my credit card with an immigration company?

I was contacting with an Immigration company from Canada during the call the took all data which they need to start their evaluation. Then, they requested to know the first 6 digits of my payment card....
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1answer
172 views

Can I report knock-off company as scam/fraudulent to credit card company?

I saw a video ad on Facebook for a product that looked interesting and high-quality. (I believe it actually is.) Later, I ordered the product—but I ordered it from a different site than the actual ...
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4answers
2k views

Can a victim of a gift card scam dispute Credit Card transaction?

One of my colleagues got scammed for $14,000 by one of the Apple Gift Card scams. He paid $4,000 in Cash for Gift Cards and bought the other $10,000 worth by maxing out a credit card. He's gone ...
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2answers
169 views

Should I pay off a credit card or a collection balance first?

I have a collection and a credit card with roughly the same balance. I received a bonus and I am able to pay off one of them completely. Which is more beneficial to pay off first?
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1answer
121 views

Credit line opened without my authorization

Some company signed me up for this credit card without my knowledge and now the account is showing in my Mint.com credit report and lowering the average age of my credit lines, and hence my score. I ...
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1answer
165 views

Credit card expired and no replacement sent [closed]

My credit card expired in January 2019. I did not receive a new card. I contacted the company on 2/1/2019 was told they had to do a report and I would receive a new card in 7 to 10 days. On 2/18/...
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4answers
426 views

Why does Costco refuse credit card payments from non-Costco members in the United States?

Alice and Bob were doing some shopping at Costco in the United States. Bob is Costco member, and Alice isn't not. The cashier, citing Costco's policy, refused to accept Alice's credit card: Alice was ...
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2answers
169 views

Do most credit cards allow a positive balance?

I have a Visa credit card, issued by a German bank. The card allows me to carry a positive balance and even pays a small interest on it (called Visa Sparen -- Visa Saving). I find this convenient, ...
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3answers
136 views

Do I need to open a credit card to improve my average credit score?

I recently checked my credit reports and score and found out I had a score in the high 630's - this was a shock as I had checked this a couple of years ago and my score was in the high 730's I ...
49
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7answers
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 ...
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1answer
94 views

are there tax consequences for transferring a family member's high interest debt to my 0% interest balance transfer card

I am considering Citibank balance transfer credit card for myself (with a 0% balance transfer offer)and wish to help a family member who has high interest debt and want to transfer their balance to ...
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2answers
234 views

I submitted my credit card number to an unreputable site. What should I do now?

I was shopping for an uncommon item, found a site that claimed to sell it, and placed an order with my credit card (which went through Verified by Visa). Only afterward did I realize that this site ...
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2answers
168 views

Does paying minimum on 12 month 0%APR bonus credit card hurt credit score?

I sign up a credit card that has 0%APR for 12 months (plus some cash sign up bonus for spending certain amount in the first few months), and will use it for the purpose of purchasing flight tickets (...
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0answers
41 views

Why is the “cash credit line” lower than the “total credit line”? [duplicate]

In the United States, Bank of America credit cards have both a "total credit line" and a "cash credit line". Why is the "cash credit line" lower than the "total credit line"? (I don't know if that's ...
57
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8answers
20k 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 (...
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2answers
144 views

Balance transfer fee

I am getting my first credit card ever and I am trying to learn how it works. I got through most of the documentation but I am trying to understand this: 0% Intro APR for 15 months from account ...
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2answers
4k views

What will happen if I transfer large sums of money into my bank account from a pre-paid debit card or gift card?

I want to use my credit card to put money on a pre-paid debit card, transfer it to my bank account, and pay off the credit card with that money so I can get points. I read that transferring more ...
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2answers
112 views

Ways to alleviate credit card missed payment due to bank problem?

A couple of months ago one of my banks randomly blocked my online account (I just had to call them and tell that I am still alive). Long story short, I called them multiple times and they never ...
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1answer
130 views

Do I have too much available credit?

For some background, I'm a recent graduate doing mostly freelance work while teaching English on the side in France. My freelance work grosses me about $25,000/year, and my job in France is about $8,...
4
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3answers
226 views

Reversing the credit card model to make it secure

I have read a lot about financial information being stolen, particularly credit card details, because they are stored or at least entered online or at points of sale. It seems to me that the method ...
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1answer
25 views

credit card payback wording

I am applying for a new credit card in Germany and am confused by the wording a bit (I just threw it into google translate). Convenient transfer service We arrange the transfer to your ...
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1answer
80 views

Does using a credit card's rental car protection in case of a damage with car rental result in increase of some premium or extra fees?

Many credit cards in the United States offer some kind of rental car protection (mirror). In case of a damage to the rented car, does using the credit card's rental car protection in case of a damage ...