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Credit Cards

Ask an Expert: Will closing a credit card improve my score?

Dear reader, While closing a credit card may seem like a good way to improve your score, it could actually have the opposite effect. When you look at the factors that influence your credit score, the most important ones are the payment history (which accounts for 35% of your score) and the credit utilization ratio (30%), followed by the length of your credit history (15%), and your credit mix and …Read More

Ask An Expert: What are the credit bureaus?

The credit bureaus are agencies that collect, keep, and maintain consumer’s financial information. They also share and distribute this information in the form of credit reports. There are several credit bureaus or consumer reporting agencies in the U.S., but the most well-known are Equifax, Experian, and TransUnion. These agencies collect and receive information from credit card companies, lenders, collection agencies, and other businesses who have pre-arranged business relations with them. …Read More

3 Ways a New Credit Card Can Help Rebuild Your Credit

For those with a tarnished credit history, applying for a new credit card might seem questionable. After all, that card you opened and maxed out in college is what caused your credit score to start going south in the first place. However, it’s not so cut and dry. What if I told you that opening a new credit card might actually improve your credit score? The difference between now and …Read More

Ask An Expert: How do I remove negative remarks on my credit report?

A: Dear reader, removing negative information from your credit report could be a good strategy to boost your score and improve your credit history. Negative data can reflect past financial mistakes you’ve made (like paying your credit cards consistently late) or they can be errors made by the credit bureaus or the creditors reporting to the bureaus. These errors might include having other people’s account reported on your file or …Read More

3 Important Things to Know About Your Credit Card

Over the last few decades, the security, convenience, and rewards offered by credit cards have made them a popular cash alternative for many consumers. At the same time, consumers should remember that, as enticing as they may be, credit cards represent a line of credit.   Every swipe and chip insertion adds to your card’s balance — and the balance you accrue on your credit card is a form of …Read More

52% Of Millennials Engage In Expensive Credit Card Behaviors

 By Robert Harrow A new study released earlier this week by the FINRA Investor Education Foundation reveled that a majority of millennials use credit cards in an expensive way. They are more likely than the rest of the population to pay late fees or take out cash advances. These are avoidable expenses no one should pay. For millennials, these practices put a strain on their finances, making it more difficult to budget or establish a …Read More

Credit Card E-Statements: If You Go Paperless, Do It Right

By Ellen Cannon of NerdWallet You do everything electronically and rarely get anything you want by snail mail. You do your banking from your smartphone. Now your credit card issuer is urging you to opt out of receiving paper statements each month and switch over to electronic statements entirely. Should you? American consumers have embraced online banking since banks began offering it in the early 2000s. Electronic statements appeared shortly …Read More

How to Dispute a Billing Error

By Jesse Campbell It’s the end of another billing cycle for your credit card. You get your latest statement in the mail (or via email if you prefer the paper-free approach). As you do every month, you take out the statement and carefully examine its contents. And you see something that’s not quite right. There’s a charge on there that you don’t recall. You review your receipts. You wrack your brain. …Read More

Beware of These Financial Tricks or Treats

By Drew Kessler Halloween tricks or treats come along only once a year, but the consequences of financial decisions usually last far past the next spooky holiday. Options that seem good on the surface, if not handled properly, can have long-lasting negative consequences.To understand how a seemingly good financial move can work against you, the NFCC encourages consumers to review the following to see if their actions are resulting in …Read More

Is a Credit Card a Must for College Students?

By Drew Kessler The CARD Act requires a person less than 21 years of age to either document their ability to repay the debt, or have a co-signer before being granted credit. The new law will also regulate aggressive credit card marketing to college students. In years past, issuers enticed students to apply for cards by making offers of free t-shirts, beach balls, or even chances for an iPod. Some …Read More