Credit Cards

Credit Cards

Watch Your Grace Period

Do you know how long you have to pay your monthly credit card bill before interest starts accruing? If you pay balances in full each month (as you ALWAYS should), chances are your card still provides a 20 to 30 day grace period on new purchases. However, that may not always be the case.

on Sun, 2010-03-21 17:00

Some Variable Rates Only Go Up

Most credit cards currently carry variable interest rates. And while the term "variable" seems to suggest that an interest rate could vary up or down depending upon the movement of the index to which it's attached, that's not always the case.

on Thu, 2010-02-25 16:00

Watch Out for Minimum Finance Charges

Minimum finance charges are on the rise as credit issuers continue to search for creative ways to increase fee revenue while operating within new rules set forth by Congress.

on Mon, 2010-02-15 16:00

Don't Ignore Your Credit Card Mail

Here's some simple financial advice for 2010—don't throw away any credit card mail without reading it first!

If you do, you might regret it because those letters cramming your mailbox may still look like shredder-worthy pieces of junk mail, but they could very well contain important information regarding changes to your credit cards' terms and conditions.

on Tue, 2010-01-05 16:00

Don't Forfeit Your Credit Card's Rewards Miles

Banks are sending a clear message to those who enjoy racking up airline miles and hotel points for credit card purchases—pay your bill on time, or forfeit those coveted rewards.

on Sun, 2009-11-29 16:00

Right to Opt Out Excludes Minimum Payment Increases

Consumers have the right to opt out of significant changes to their credit card accounts, such as increases in interest rates and other unwanted fees. What's this mean?

Opting out basically means you choose to cancel your credit card, make no further purchases, and pay off whatever balance remains at the old interest rate. However, there are exceptions to the opt out rule.

on Mon, 2009-10-12 17:00

Is Your Annual Fee Worth It?

Nothing in the Credit CARD Act of 2009 limits annual fees, so credit issuers are already beginning to rethink their annual fee structures in an effort to fight eroding profit margins.

on Tue, 2009-09-29 17:00

Extra Time to Pay Your Credit Card Bill

Although most of the 2009 Credit CARD Act's major provisions don't take effect until early 2010, bill-paying procrastinators have something to cheer about already. Effective August 20th, you now have more time to get that credit card bill paid after your credit issuer delivers your monthly statement - make that a whole week of extra time.

on Sun, 2009-09-20 17:00

Does Your Card Have an Interest Rate Floor?

Interest rates are near record lows, but many consumers have noticed their credit card rates aren't following suit.

Some have unfortunately experienced skyrocketing rates as credit issuers fight to remain profitable amidst tough economic conditions. Others have managed to escaped rate increases but are confused because their credit cards' interest rates have failed to move in line with the falling prime rate - the index linked to most variable rate loans or lines of credit.

on Tue, 2009-09-15 17:00

When You Can't Opt Out

Effective August 20th, the Credit Card Act requires credit issuers to provide 45-day advance notice of a change in interest rates. The idea is that consumers will now have a sufficient amount of time to review the changes, exercise their right to opt out of the new rates, and search for replacement credit cards.

on Mon, 2009-08-31 17:00