Frequently Asked Questions About Credit

Credit Card Closed Automatically Due to Data Breach? Here's What to Do Recent bank data breaches have seen many credit cards closed without notice. Here are some steps you can take to make the transition to a new card easier. Rebecca Lake Shirley Pulawski When to Ask for a Credit Limit Increase? Flickr |... Shirley Pulawski Why Isn't the Discover Card Accepted Everywhere? Discover credit cards come with a lot of desirable features that attract new... Does Closing a Credit Card Hurt Your Credit Score? Have you been thinking of cutting up or closing your credit card? Here's how to decide - and the effect it will have on your credit score and debt payoff. Shannon McNay Should You Open a Store Credit Card? Is a promotional interest rate or a discount worth opening a retail credit card? Here‘s how to decide if store credit cards are worth the perks they advertise. Katherine Muniz Simon Zhen The Best Time to Ask for a Credit Limit Increase Prior to the financial crisis, credit card issuers allowed customers to request a... Guest Contributor 10 Reasons Why You Are Drowning in Credit Card Debt If you are somebody who is being overwhelmed by a mountain of credit card debt,... When to Use a Credit Card for an Emergency? Credit cards can be a life saver when you have an emergency. But, are you giving the wrong excuse for an “emergency”? Simon Zhen 10 Things You Need to Know About Credit Cards For a first time credit card user, things can get a little tricky. Here are ten things every person should know when it comes to credit cards. Katherine Muniz Mariel Leibowitz Why Some Stores Don't Accept American Express Are you a loyal American Express customer? If so, you've probably encountered... Simon Zhen The Hidden Fee for Paying Off A Credit Card (Hint: Residual Interest) Rob Marquardt / Flickr | https://www.flickr.com/photos/sometoast/3140570760/ There... Why Credit Card Minimums Are Legal Learn why credit card minimums are required when you use your card to pay for something. See if it is legal for stores to have these rules. Simon Zhen What Happens if You Maxed Out Your Credit Card We all know maxing a credit card isn't good but do you know the consequences? Here's what happens if you max out your card, how to prevent it, and how to fix it. Shannon McNay Simon Zhen How to Understand Your Credit Report Credit reports play an essential role for today's consumers. Even if you don't... Simon Zhen How is Credit Card APR Interest Calculated The numbers listed under "Interest" on your monthly credit card statement might be... How Credit Card Issuers Respond the First Time You Miss a Payment You've missed a credit card payment, now what? Find out how your bank or credit card issuer is going to a reacted to a missed credit card payment. Jeanine Skowronski Is a Credit Card Annual Fee Worth Paying It? Learn why some consumers shun the idea of paying an annual fee for a credit card while others maximize the useful benefits to make it worth that annual fee. Simon Zhen Kali Hawlk How Do Secured Credit Cards Work? Have you ever heard of decision fatigue? It’s the idea that humans can only make... Rebecca Lake What's the Difference Between a Balance Transfer and a Cash Advance? Quick answer: A cash advance puts cash in your hands while a balance transfer is... Charge Card vs. Credit Card: The Differences Learn about the differences between credit cards and charge cards -- both of which allow you to borrow on revolving credit but the repayment formats differ. Simon Zhen What Happens If You Don't Use Your Credit Card? Not using your credit card may seem harmless, but can have surprising effects on your credit score. How to decide if you should use or close your dormant card. Shannon McNay Simon Zhen APY vs. APR: What's the Difference? If you look at any credit card offer online, you'll see that interest rates are... Simon Zhen Are Credit Card Balance Transfers a Good Idea? Statistics show that the average American household carries a credit card debt of...