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Credit Cards

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Chase Freedom credit card is offering a pretty attractive credit card deal. They advertise that you can earn up to $1200 in bonus cash. Freed Credit Card Deal: Earn $100 Cash Back after you spend $500 in 3 Months. You can also earn 10% cash back when you shop online at select merchants using Chase. Earn an unlimited 1% Cash Back on all Purchases, Earn 5% Cash Back on select purchases (read “ad Copy” below…

One of the big pieces of news recently is that the PlayStation Network was hacked. The end result? A large number of people had their personal information compromised. I’m one of them. I had a credit card stored on the PlayStation Network, and I’m a little bit worried that it is compromised. So, what are my options? Get New Cards Rather than wait to see what happens, I decided to be proactive. I called the…

One of the consequences of the recently enacted Credit CARD Act is that many credit card issuers are changing some of the terms of their agreements. This can include providing you notice that they are changing the fee structure, as well as changing your interest rate. It’s true that credit card issuers aren’t supposed to raise interest rates on existing balances (except in a few cases), but they can up the interest rate on your…

Are you a rewards junkie? Want to strategically use credit cards like pawns in chess? Establishing credit and earning points/rewards are great ways to use credit cards. But you have to make sure that you will be using your credit card responsibly. Putting your monthly bills on your card can easily bring in thousands in points, but it’s easy to over do it. Make sure that your rewards are lined up Make sure that your…

Your credit card spending may have a bigger impact on your revolving accounts than you might think. Indeed, some credit card issuers and others have admitted that your spending habits may be influencing what happens to your credit card interest rate, or to your credit limits. Of course, the Credit CARD Act passed last year provides some protection against these practices, but even the fact that the issue has come up in recent years offers…

Before you sign up for a new credit card, make sure you understand all of the terms. A credit card rate, especially a 0% credit card, might look attractive initially, but once you start reading the fine print, you might change your mind. After all, there is a lot of stuff in that fine print. Information about what could happen to your rewards points, as well as what could make your credit card interest rate…

Frequent travelers tend to do well using travel reward-based credit cards. These credit cards typically work on a points system, offering the user points for the amount he or she spends. The points can then be redeemed for some serious discounts and perks on airline tickets, hotels, rental cars, and other travel expenses that can really add up. [ad#Content 300×250] This all sounds great. But there’s actually more you can do with a travel credit…

ReadyForZero is a new, launching (still in beta), application to help consumers with loads of credit card debt, cleanse their financial sheets. It is basically advertised as an application which simulates what a financial advisor will tell some with loads of credit card debt. Y Combinator-backed startup ReadyForZero is announcing a $260,000 seed round of funding from a number of well-known angel investors including Steve Chen, the co-founder of YouTube; Dave McClure, Benjamin Ling, Nils…

[ad#Content 300×250]As credit card companies use new tactics, practices to maneuver around the new credit card regulation, the Federal Reserve is planning on tighten its credit card policy. “The proposal is intended to enhance protections for consumers and to resolve areas of uncertainty so that card issuers fully understand their compliance obligations,” the Fed said. Several tactics that Credit Card companies use , such as Citi Bank offering a credit card interest rate at 29.9%,…

The recession saw a definite drop in the amount of 0% credit card offers seen in the mail. With the credit crunch, it was quite difficult to qualify for any kind of loan — including a credit card. Even though credit is still a bit crunched, issuers are starting to come back from the brink a little bit, offering credit cards again. [ad#Content 300×250] One type of credit card offer you might see in your…

Your credit is basic to your finances, and understanding it is important for your financial education. One of the myths you hear about when talking about credit is that checking your own score can damage it. This myth grew up because when some people check your credit score, it really does damage your score — even if you don’t end up being approved for your loan. This is because there is a difference between what…

Since Credit cards are now the most common source of financing for America’s small-business owners. (Source: National Small Business Association survey, 2008) Business owners will have stay alert about which credit card they use on purchases. With the Card Act passing in 2009, the credit card companies are trying to compensate for future low-earning quarters.  They are pushing their “professional/business  credit cards” with more ‘riskier’ terms. By claiming these cards aren’t for consumers, they can get around the…

I was reading an article on Bankrate  about the advantages of having multiple credit cards. The author asserted that having multiple cards was a good thing because it boosts your credit score, gives a sense of security, and allows users to obtain extra rewards and discounts. All of these are valid points. However, I think that having multiple credit cards is never justified no matter your financial situation. It can be a lot more trouble…

One of the subtle influences on your credit score is the type of credit account you have. For instance, while it doesn’t count that much, it makes a small difference whether you have a department store credit card or a major bank credit card. Normally, I fall firmly into the camp of not having a department store credit card. It seems pointless: The interest rates are often higher and there are rarely rewards programs. But…

One of the most important aspects of your financial life is your credit score. Your credit score is based on information that can be found in your credit report. When your credit report is inaccurate, it can lead to a lower score. In order to keep tabs on the information that is used to form your financial reputation, you should check your credit report regularly. While you can go to the individual bureaus and pay…

Today the Federal Reserve as part of the new bill Credit Card Accountability Responsibility and Disclosure Act of 2009, decides to Ban “inactivity fees” and limit Credit Card Fees to $25. These restrictions add to the provisions already suggested like, limiting the use of credit cards to teens, and my favorite, minimum payment explanation. The Minimum payment explanation Requires that creditors print on their statements if the debtor makes the minimum payment only  how long it…