If you write a check or pay a bill electronically from your checking account but do not have sufficient funds to cover that check, you will be charged a non-sufficient funds (NSF) fee which often ranges from $20 to $30, depending on your bank or credit union. In addition, the person you gave the bounced...
As a certified credit counselor I spend the majority of my day helping people that have gotten in over their heads with credit cards. I am typically not a proponent of credit card use, however when used responsibly you can actually use credit cards to your advantage.
The credit-card game has changed...
There’s been a lot of fuss over credit ratings or credit scores in the past few years. This is largely due to the massive media coverage of payday loans. The press has generally portrayed these loans in a bad light and in so doing has left many people feeling wary about their credit score.
Your credit...
Many people rarely carry cash; instead, they use their credit cards for all of their daily transactions. There are plenty of good reasons to use credit—it is easily accessible, you can track your expenses every month through your credit statement, you don’t have to worry about running out of money,...
My husband and I have paid off more than $14,000 in debt in the past two years of our marriage. We still have another $20,000 to go in student loans. But we recently decided to upgrade from a small studio loft to a two-bedroom townhome. So I have to ask: Is it okay to spend money when I still have debt?
The...
This may sound like a silly question but credit card companies would lead you to believe it is not possible to live a cash only life. Their marketing teams push hard to make us believe life without a credit card is just not possible.
Those of us that have been in debt or are struggling to get out know...
Did you go overboard with your Christmas spending this year? I know I did.
Every year, I vow to stick to a budget for Christmas. Every year, I fail.
My problem is not just spending money on presents, but also all the extra spending that is done throughout the month, such as eating take-out a lot more...
Like it or not, your credit score can affect where you are hired, how much money you pay in interest over the course of a loan and whether or not you can even qualify for a loan. Since the start of the Great Recession and the housing market downturn, it is increasingly difficult to even obtain a loan. ...
David Bakke writes about finance topics on Money Crashers, a blog focused on educating readers about important topics like budgeting, living frugally, saving for retirement, investing, and getting the most out of life.
Having a solid and healthy credit score is the first layer of a solid financial foundation....
In principle, a credit card is quite a simple idea: you can spend money up front, then repay it over a period of time. The sooner you repay the money you’ve borrowed, in general, the less interest you’ll pay on it.
In recent years, though, we’ve seen more and more specialized cards...
We live in a world where bad deeds often go unpunished. However, in the MasterCard Universe (Visa, Discover and American Express, too), cardholders deemed guilty of irresponsible repayment behavior by their card issuer are penalized – usually heavily – by a spike in their APR. “The best way to...
If your mailbox is stuffed full of credit card offers, you may be contemplating opening one of them up. After sifting through all the junk credit offers, you might actually find a diamond in the rough. Because of the economy, credit card issuers are going to town when it comes to credit card marketing...
Across the globe, 85% of retail transactions currently are made by means of cash or check, reports American Banker website. MasterCard sees that number as an opportunity, according to President and Chief Executive Ajay Banga, as it provides a big audience for them to target.
MasterCard wants to promote...
Jerry and Sue Bailey, residents of Jackson, MI, accomplished the tremendous feat of paying off 92 thousand dollars worth of credit card debt. This debt they had begun amassing in 1992 and lasted all the way until 2005. Their debts spanned over 17 different credit cards. On these cards, they charged the...
The American economy is all topsy-turvy right now. Just this week, the Federal Reserve announced that it will keep long-term interest rates at a record low. Short term rates are already at record lows and they will continue to stay that way until the middle of 2013. That is, if the Fed has their way.
Contrary...
The The Platinum Card® from American Express is a card that caters to affluent customers who enjoy the finer things and are looking for travel benefits and perks. It has a steep $450 annual fee, but in return, it offers an impressive array of benefits.
There is no APR with this card as the balance...
