Money Motivations

Credit Cards

Recent Articles in Credit Cards

How to Get Out of Credit Card Debt: A Step-by-Step Guide
A comprehensive guide on how to get out of credit card debt, including tips, tricks, and advice. Credit card debt is a major problem in the United States. Millions of Americans carry a balance on their credit cards, and many of them struggle to pay it off. If you are one of the millions of...
Transferring Your Car Loan to Your Credit Card
Pros, Cons, and What to Consider Before Transferring a Car Loan to a Credit Card Are you looking to save money on your car loan? Transferring your car loan to your credit card might sound like a good idea, but is it really worth it? While there are certainly some advantages to doing so, there...
Falling Behind on Credit Cards? Take These Steps To Recover Faster

Getting out of credit card debt can be a traumatic experience. You may feel like you're never going to get ahead, and the interest payments can be crushing. Not to mention, the curveballs that life throws at you can get you deeper into debt.

The Implications of Maxing Out Credit Card Balances

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.

How Do Credit Cards Work?

Modern society is relying more and more on credit to make transactions and other financial decisions. Today, people use more credit cards than cash to pay for purchases since they offer ease, improved security, and the chance to accrue rewards.

Credit Card Debt of the Average American

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.

Reasons to Consolidate Credit Card Debt

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.

Credit Card Protection Wallet

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.

Credit Card Security Code (CSC) Explained

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.

From Credit Card Debt to Cash-Only

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.

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