Credit Card Blog

As consumer credit is becoming a much more complex subject, it is very important for consumers of today to realize that there is little margin for error when it comes to applying for a new credit card. The mistakes you may have made in the past should have taught you a lesson now that credit is much harder to get.
Unfortunately there are still those who continue to make the same costly mistakes when it comes to acquiring a new credit card. Here is a reminder list of what not to do when applying for or using a credit card:
Check Your Credit Score First
Before you even submit an application for a new credit card, you need to know where you stand credit score-wise.…

When you apply for a new credit card it can be a good time to remember some simple rules that will help protect you in the event your card should ever go missing. While many thieves do not need to have the physical card to infringe upon your identity, there are still some who prefer to grab your purse or your bag when you are out in public.
Here are some reminders to protect your new credit card as well as your other cards and personal information should criminals target you for their scams:
Make a List for Home
When you receive a new credit card you should add the card number, the credit contact phone number, and any other relevant information to a list…

When you are starting a business, you may need to bootstrap the business finances during the initial start-up phase. Small business owners often have to rely on their personal finances to keep moving forward but at some point they also need to make a complete transfer from personal to business to establish business credit. The fastest way to jumpstart your business’s credit foundation is to apply for a credit card for business purposes.
Benefits of Business Credit
Much like personal credit histories are established by applying for and using credit, business credit foundations are set up to support the future of a business. Credit checks are often done by vendors and other businesses that associate with the company. For this reason, a business needs to…

Many consumers are facing debts they can barely keep up with and many of those debts are associated with credit cards. As more people are looking for ways to eliminate their debt problems, some will consider turning to credit cards as a solution for debt relief.
There are many considerations to make before applying for a credit card, let alone applying for a card when you are in debt. You need to ask yourself why you want to add an additional burden to the debt you already have and actually sit and write out a plan for eliminating those debts.
Exploring Your Options
The first consideration you need to make about applying for a credit card to get out of debt is whether or not…

If you are the owner of a small business and have not yet tried to apply for a credit card, there are some key benefits you need to consider. Credit cards for a business are a smart move because they are often the first foundation for a business’s own line of credit. Since most small businesses start on the financial reliance of the proprietor, a business credit card is a great way to finally separate the personal side of finances from the business side and create a solid business financial foundation.
Here are 4 more reasons why the business credit card is beneficial to small business owners:
Money Back Offers
Many of today’s business credit cards offer rewards programs which give the business actual cash…

Turning 18 is the start of a lot of good things – graduating high school, becoming a legal adult, going to college, and the ability to get a credit card. Young adults, those in college and out, have to be careful about getting and using cards. How you use plastic in your younger years will have a big impact on your future cash flow and ability to borrow money.
Don’t get a credit card right away. Though you are legally able to get a card once you turn 18, you shouldn’t be in a rush to get a new piece of plastic in your wallet. Even if you don’t get a card now, you can still get one in a few years. Being patient about… Read More →

Young adults often make credit card mistakes because they haven’t been taught anything about credit cards. They’ve learned much of what they know by watching you and others use a credit card. Because of that, they won’t completely understand what goes on behind the scenes – that credit card balances accumulate and a payment is required every month. Help your teenager or young adult establish good credit habits by helping them pick the right credit card from the start.
Initiate the conversation. Don’t wait for your child to tell you when he or she thinks about getting a credit card, it may never happen. Instead, be proactive. Most teens are interested in credit cards well before age 18, but thankfully, they can’t get one. You…

Often, you may need to use your credit card for a large purchase, because you don’t have the cash to pay for the purchase. Or sometimes, you’d use your card because it is safer than using cash. Whenever you’re preparing for such a large purchase, follow these guidelines, even if you plan to repay the purchase when your statement arrives.
Choose a credit card with a large limit. The card should have at least as much available as the amount of the purchase, plus a little bit more so there’s room for any finance charges. It’s better if your limit is much greater than your purchase since balances above 30% of the limit can negatively affect your score.
Ask for a credit limit increase if… Read More →

Every credit card is a product that’s designed to make money. Some cards are created to get more money from people who are deprived of credit and can’t get approved for better cards. Check out these features that make a bad credit card even worse.
High annual fees without comparable benefits
Some of the most prestigious cards have higher than average annual fees. So having a card with a $300 or $400 annual fee isn’t necessarily a bad thing. But, having plastic with a high annual fee and no benefit is. If your card charges you an annual fee, it should have comparable benefits, perks, and the opportunity to earn rewards that make up for the annual fee. Examples of benefits include concierge service, annual… Read More →

When you apply for a credit card, it’s important to know that how you use that card will affect you in a big way. Most are reported to at least one of the three major credit bureaus. That means your credit history for that card will appear on at least one of your credit reports, and sooner than you think.
What’s On Your Credit Report
Your credit card application will trigger an inquiry, a look into your credit report. Reports contain a list of people who’ve checked your credit report in the past 2 years. Only those within the past year will affect your score, the number that “grades” your report.
Once you’re approved for a credit card, the credit card issuer opens up an… Read More →