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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

How many credit cards do I need? Should I open another just for the cash back feature?

Don't open another credit card account just for cash back. The Visa you currently have is all you need. The only reason I can think of for opening another account is if some place you shop regularly …
Scott Lawrence's user avatar
3 votes

Credit card transactions for personal finances

I use mint.com for tracking my finances. It works on mobile phones, tablets, and in a browser. If you don't mind the initial hassle of putting in the credentials you use to access your account onlin …
Scott Lawrence's user avatar
2 votes

Is it worth it to use "balance transfer" credit cards, to take advantage of low-rate offered...

I've always been leery of balance-transfer cards and introductory rates on such cards. Interest rates matter if you're in the habit of carrying balances. Credit cards are unsecured debt, which makes …
Scott Lawrence's user avatar
5 votes

What strategies could be employed so as to avoid identity theft and credit card frauds?

In addition to the good advice already mentioned, with any site you're buying things from, start by making sure the URL starts with https. This will at least encrypt the the information you send. An …
Scott Lawrence's user avatar
8 votes

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

Pay cash. You have the cash to pay for it now, but God forbid something happen to you or your wife that requires you to dip into that cash in the future. In such an event, you could end up paying a l …
Scott Lawrence's user avatar