CreditCardsAct

Card Insider:  Credit cards. It may seem very difficult to get by without them in this day and age, but the fact of the matter is it's becoming more and more expensive to live with them. That's because credit card companies have managed to stack the deck in their favor, thanks to obliging lawmakers and regulators who have allowed them to gouge consumers for exorbitant fees and unconscionable interest rates. And you don't have to look hard to find out how tricky they can be. "Just read the fine print of your credit card agreement," says Ed Mierzwinski, Consumer Program Director of the U.S. Public Int...

Best Cards:  A cash register isn't just a place where you pull out your wallet to get cash or a credit card anymore. At a growing number of stores, it is becoming a place of opportunity to put some of that money back, in the form of instant discounts, shopping perks and savings that may otherwise pass you by -- if you only sign up for the store's own credit card that the sales clerk is soft-selling you. Sure, a 15% discount sounds fine, especially if you arrive at the register with an armful of items. But don't be wooed by the initial discount the plastic gets you on items you buy the same day you open ...

Card Insider:  Consumers know all too well that going over their credit limit can mean a nasty fee, a higher interest rate and maybe even a lower credit score. But few people are aware that merely approaching their limit can have costly consequences as well. That's because your debt-to-limit ratio, or "debt utilization," is a key component of your credit score. Your debt-to-limit ratio is calculated by dividing what you've spent by your total credit limit. If you have a $5,000 limit and you've charged $4,000 this month, your debt-to-limit ratio is 80%, which is enough to signal to lenders that you a...

Best Cards:  What happens when I charge my credit card over the limit?You will be socked with a hefty penalty fee. Over-the-limit fees of $29 and $35 are common. Norm Tapper, a Bankrate.com reader in Indiana, was charged a $25 late fee and $25 over-the-limit fee on a Capital One card with a $300 limit. Issuers point out that fees are spelled out in the credit-card agreement and monthly statements list credit limit, balance information and due dates. But a lot of people are shocked by over-the-limit fees. In fact, most people learn about a card's over-the-limit p...

Card Insider:  Read your credit card agreement carefully. It must state the reasons your credit card interest rate may increase. Typical triggers include late payments and overlimit transactions, the expiration of an introductory annual percentage rate, or APR, or prime rate movement -- if the card has a variable rate. You may find more arbitrary rate-raising conditions buried in the fine print. If the bank states that it can impose the penalty rate if you pay other lenders late, this means the bank practices universal default. One slip-up with an unrelated creditor and your rate could skyrocket. Yo...

Best Cards:  There are many reasons to have a credit card with you at all times. While not everyone can qualify for a credit card, it is not a good idea to walk around with a pocketful of cash. If that cash is to get stolen or lost, you have no recourse whatsoever. On the other hand, if you lose your credit card or it gets stolen, you will not be held liable for fraudulent purchases. Even if you have poor credit or no credit at all, you can still own a credit card. It is called a prepaid credit card and is as easy to buy as a gallon of milk. Step 1: Many retail locations such as Wal-Ma...

Card Insider:  There are several things you can do to increase your personal credit. If you don't already have a copy of your credit report, you can request them from the three credit bureaus. You are allowed to get a free copy once a year. After studying your report try to determine what you need to do in order to clean up your trouble spots. Do everything you can to clean it up and make an effort to get some positive information on it. You may need to open one or two new accounts. Make sure all the payments are paid on time and soon you should be back on track. Start by getting a company credit card ...

Cash Back:  A recent case study has indicated that while a payday cash advance loan is a relatively high cost of borrowing, it is often a better financial decision than getting a new credit card. The credit card companies are tightening lending standards in this economic environment and therefore many people with maxed out credit don't even have the option to get a new card or extend their credit. Those who are eligible for a new card should still consider getting a payday cash advance loan in times where they need fast cash. Instead of prolonging your repayment period and paying high interest fees, it wo...

Best Cards:  Credit cards have become a popular and trusted method of payment for buyers and retailers alike. In addition to being a convenient and cashless payment method, a credit card offers a method of borrowing for the short-term. Unfortunately, with the rise in credit (as well as debit) card use has come a rise in the occurrence of credit card fraud. Here are some tips to help you keep your card safe from misuse. 1. Check your credit card statements on a consistent basis. Question any purchases that you do not recall making. 2. Never save your card info on a merchant's site. 3. Never let you...

Rewards Cards:  With the prices of food and gas where they are, everyone's looking for an edge. For more and more people, myself included, that edge is in maximizing what you can get out of credit card cash-back reward programs. Credit card companies charge vendors a hefty percentage to process credit card transactions (AMEX and Discover charge the most; that's why they often have the best cash-back programs), so doesn't it make sense that they pass along some of that to you? Of course it does. Here are eight tips I use to ensure I get the most cash back from credit cards: Know your spending. Every c...

Cards for Bad Credit:  You might wonder: Why on earth would a bank or company lend money to a person with bad credit history? Well, they stand to gain a lot actually. A Credit card for people with bad credit can still protect the interest of card companies. Both the cardholder and the provider still benefit from this type of card. For the cardholder with this type of card, they benefit by rebuilding their credit ratings if they manage their card well. For the provider, they benefit from a huge market. This market is significantly getting larger as people are having more problems managing their credit cards. To ad...

Card Insider:  Rebate credit cards are increasingly becoming popular these days. As its name suggests, a rebate credit card is a type of reward card that promises to give you a refund from your purchases. The percentage of rebate can range anywhere from 1%, 5% or more depending on your issuer. Some credit cards offer rebates on special types of purchases. For instance, you can get a rebate each time you use your card for grocery shopping or dining out. Other reward cards may offer rebates from general types of purchases which means it does not matter where the purchase was made as long as it is charged to...

Frequent Flyer Cards:  Airline credit cards are referred to as mileage cards or airline miles credit cards. As its name suggests, the cardholder earns points on the frequent flyer miles credit every time they use it. They have recently been introduced in the market by enterprising credit card companies that tie up with big shot airline companies. Every dollar charged to the airline credit card is equivalent to a mile. As the purchases accumulate, the more miles the cardholder is able to use for free air voyage or the ability to upgrade from economy to business class. Airline credit cards offer terrific value for fr...