Credit cards make it almost too easy to spend. You swipe and go. But behind that convenience is an average interest rate of about 20%. That means every month you carry a balance, the amount you owe grows, even if you make partial payments. You’re not alone if your...
Millions of people in the U.S. rely on credit cards. They can be a useful tool when emergency expenses come up. Nonetheless, the debt accrued on credit cards must be paid back, often with significant interest. Credit cards are a common source of debt and they can...
A credit card is a wonderful tool that allows people the resources to ready money when they’re in a bind – and all they have to do is pay it back later. Credit cards can also help people increase their credit scores, which can make obtaining loans and borrowing money...
Credit cards are a double-edged sword, offering convenience and potential financial ruin. On the one hand, they make it easy to make purchases without carrying cash, build credit history and earn rewards. However, their misuse can quickly lead to financial instability...
For most modern households, credit cards are a financial necessity. Individuals never know when they might need to repair their vehicle or buy supplies for a school project. Credit cards provide financial flexibility by allowing individuals to spend money before they...
When you’re being contacted by phone, email and letter by debt collection companies or your creditors, it’s a scary situation. The easiest thing to do is to try and ignore the problem and not respond. It can feel like too big of a task to try and tackle. However, that...
Using credit cards is often seen as something that is just convenient. It’s easy to carry a card around and have access to a line of credit that can buy anything that you need, but you don’t have to bring cash with you everywhere that you go. This is also seen as a...
When you start using a credit card, you're not necessarily creating financial problems for yourself. Many people use their credit cards every month, running most of their purchases through these cards. Things like mortgages often can't be paid on a credit card, but...
When you miss a payment or send it in a couple of days late, your lenders profit from your mistakes. They will charge you fees, which sometimes lead to additional fees. An account very close to its maximum account balance could go over due to interest charges and a...
To the unwary, a credit card can seem like a gift that keeps giving. Yet as many people find out, it can soon become something that keeps taking. Financial experts predict that credit card companies are about to start taking even more if you have outstanding debt. Why...
