Credit Cards

Credit Cards

Purchase Protection Can Come in Handy

Several credit card benefits are often overlooked by the so-called personal finance gurus that claim consumers should leave their credit cards at home when hitting the malls this holiday season. Paying for everything with cash can certainly be beneficial for those who just don't know how to budget, but advantages such as having Purchase Protection, especially on more expensive items, shouldn't be forgotten by the smart consumer.

on Sun, 2008-12-07 16:00

Opting-Out of Credit Card Interest Rate Hikes

Citigroup Inc. and American Express are two of the largest credit-card issuers who recently announced they will hit millions of consumers with interest rate hikes just before the start of the holiday season. A two to three percentage point increase seems to be the target, but the severity of the rate hikes will likely fluctuate depending upon whether you carry a monthly balance.

on Sun, 2008-11-23 16:00

Rates Drop in US and UK, but Banks Fail to Follow

In an effort to ward off a deep depression, the Fed dropped its benchmark rate to a record-tying low of 1 percent, and the Bank of England recently slashed Britain's base rate by a record 1.5 percent. Since many credit cards are pegged to the prime rate, which is tied to the fed funds rate, you should expect to see some relief on your annual percentage rates any time now, right?

on Sun, 2008-11-09 16:00

Does Your Credit Card Have a Penalty Rate?

Buried deep in the fine print of your credit card's terms and conditions, chances are you will find something known as the "penalty rate clause". In fact, more than 75% of credit card issuers include a penalty rate clause with their card offers, and this number is increasing as credit defaults are on the rise and issuers are looking for ways to increase revenues through higher interest rates and fees.

on Mon, 2008-10-20 17:00

Want a Lower Credit-Card Rate? Just Ask for It

Existing credit card customers are of great value to credit issuers, and that will never change. In fact, some analysts estimate it costs credit card companies more than $200 to acquire a new customer. Therefore, once they have you, they really don't want to lose you. So if you are unhappy with your current interest rate, the best thing to do is simply pick up the phone, call the number on the back of your credit card, and tell them what you want. You may be surprised how easy it really is.

on Sat, 2008-09-06 17:00

Worried About Missing Your Next Credit Card Payment?

Credit card delinquencies are soaring in 2008 as consumers continue to struggle with the subprime loan crisis, higher energy prices, and a sputtering U.S. economy. In fact, some experts estimate a quarter of American households are behind on at least one bill by a month or more. If you know you will have to miss a credit card payment this month, do yourself a favor and plan ahead instead of ignoring the inevitable consequences.

on Sat, 2008-08-23 17:00

'Piggybacking' Lives On

Piggybacking, a technique that allows consumers with good credit to boost other's credit scores by adding them as an authorized user, will live on. If you haven't heard the term before, it's not a new thing. Parents have used the technique for many years to help their children build solid credit at a young age, but in recent years private companies have begun to take advantage of the practice by connecting bad-credit consumers with good-credit consumers for a fee.

on Sat, 2008-08-02 17:00

What's the Universal Default Clause?

Hidden deep in the small print of your credit card terms and conditions, you may find the dreaded policy known as the "Universal Default Clause". This clause gives credit card companies the ability to increase your interest rate to the maximum default when you make a late payment on ANY account that is part of your credit report.

on Thu, 2008-07-17 17:00

Beware of Excessive Debit Card Holds at Gas Pumps

If you are a fan of using your debit card to make everyday purchases, you may want to think twice before filling up this July 4th weekend. Consumers have been complaining across the country about excessive holds on debit card transactions at gas stations. For instance, if you purchase $25 in gas using a debit card at the pump, there may be a hold placed on your account for $100 until the transaction clears with the bank. This process could take up to 3 business days to complete, and you will be unable to use the funds for any other purchases during that time.

on Wed, 2008-07-02 17:00

How to Ease Your Pain at the Pump!

The media was talking about the "$50 fill-up" like it was an anomaly just a few years ago. With the average national price for regular gas hitting $4 for the first time, a "$50 fill-up" these days probably means you still had a half-full tank when you pulled into the local Costco gas station!

on Sun, 2008-06-08 17:00