Recent Articles in Credit Cards
Large or small, however, it is never a good idea to end up with maxed-out cards. In fact, it’s not an idea that should even cross your mind. Reaching that point has consequences, exposing you to financial risks that could ruin your future. Sure, credit cards are convenient; but there are repercussions for the foolhardy and fiscally irresponsible. To help you make better decisions for your financial future, let’s talk about some of the consequences of maxing out a credit card.
Ask the average American how much credit card debt his or her fellow citizens have, and you’re likely to get an ear full. Given the value to the media of reporting dire figures and dangerous consequences, it is easy to find a range of data, from the tame and mild to the outrageous and wild.
Credit card consolidation is the process of consolidating two or more credit card debts into a single debt. Basically, you will need to take out a new loan in order to pay off your outstanding credit card debt. This way, you’ll only have to focus on one creditor and don’t have to worry about multiple payments and deadlines.
Thieves today no longer need your physical card to steal your information. They can stand next to you and steal it because of newer technology. RFID makes transactions seamless as it no longer needs a swipe or insertion to complete purchases. The downside is that a knowledgeable thief can steal your information by simply passing a scanner in the area where they suspect your card is stored.
With the rise of online shopping and e-commerce, everyone is using their credit cards now more than ever before. Before anyone can complete their purchases, though, online retailers require buyers to enter their credit card numbers, their card’s expiration date, the account holder’s name, and security code.
For most households that are struggling from paycheck to paycheck (and that accounts for roughly six out of ten households on every block in America), moving from complete credit card dependence to the cash-only envelope system sounds like a great idea.
For many people, a credit card might seem like a convenient way to make purchases, even when they don’t currently have the money for it. However, this seemingly harmless card can do a lot of damage if you don’t use it wisely. Knowing how to use your credit card is the key to maintaining your credit score and staying out of debt.
To request a lower interest rate on your credit card account, submit a request to your credit card company via your internet account or by phone with a customer service representative. Card company representatives usually work to grant requests that satisfy their customers.