Category: Credit-cards
10 Purchases to Avoid Charging to Your Credit Card
Building credit and earning credit card rewards can be beneficial for your finances, but using your card for certain purchases can lead to high fees and interest rates, negating any advantages. If you use your credit card wisely, you can minimize fees, save on interest, build savings, and reduce debt. Here are ten expenses you…
Explore More
Beware of This Gas Station Scheme: Identifying and Preventing Credit Card Skimmers
Credit card skimmers are sneaky devices that thieves attach to gas pumps to steal your credit card information. They can also be found at ATMs and store card readers. Here’s what you need to know about how these scams work and how to protect yourself. **Understanding Credit Card Skimmers** Credit card skimmers are small, illegal…
Explore More
Is It Possible for Another Person to Pay Off Your Credit Card Bill?
Can Someone Else Make a Payment on Your Credit Card? Yes, credit card companies usually allow payments from people who aren’t the cardholders. This can be really helpful if the cardholder can’t manage their finances temporarily or if someone wants to help a friend or family member in need. Can You Pay Someone Else’s Credit…
Explore More
The Underlying Reasons Behind Warren Buffett’s Skepticism Towards Credit Cards
In today’s world, credit card debt has reached record levels, with Americans’ total credit card balance hitting $1.129 trillion in the last quarter of 2023. Warren Buffett, one of the most successful investors ever, offers timeless advice: avoid using credit cards as a piggy bank and don’t pay high interest rates. This advice was highlighted…
Explore More
Financial Savvy: The Case for Using Credit Cards for Almost All Your Purchases
Deciding whether to put a purchase on a credit card depends on the type of purchase and how responsibly you manage your credit card usage. Here’s a guide to help you determine which purchases are suitable for credit cards and which ones you should reconsider. ### Purchases to Put on a Credit Card **Travel Purchases**…
Explore More
Mastering Credit Cards: 6 Savvy Strategies for the Economically Minded
Credit cards can be a fantastic way to earn rewards like cash back and travel perks, and they offer a lot of convenience. However, their high interest rates can make these rewards costly if you carry a balance for too long. Savvy spenders know this and use various strategies to avoid falling into debt. Here…
Explore More
How I Became a Millionaire: My Top 3 Reasons for Relying Solely on Credit Cards
Credit cards offer a lot of flexibility in spending, but they can also lead to significant debt if not used responsibly. As of early 2024, Americans collectively owed $1.129 trillion in credit card debt, according to LendingTree. However, when used wisely, credit cards come with numerous benefits. Tori Dunlap, a financial expert and author of…
Explore More
Safeguarding Yourself Against Credit Card Fraud at Fuel Stations: 10 Effective Strategies
Using a credit card at gas stations can be risky these days. Thieves often target gas pumps with high-tech skimming devices to steal credit card information. However, by understanding the methods used by fraudsters and taking some security measures, you can protect yourself from gas station credit card theft. **Inspect Card Readers for Tampering or…
Explore More
Understanding APR: Essential Information You Should Have
The annual percentage rate (APR) is a crucial concept for anyone borrowing money. It represents the total interest rate paid annually over the life of a loan. APR is significant in various financial products like credit cards, auto loans, and mortgages. Credit card APRs are usually higher than those for other loans, making it essential…
Explore More
A Crucial Approach for Managing Your Credit Card Debt
If you have a credit card balance, you’re probably eager to pay it off quickly. However, this can be tough if you’re dealing with a high interest rate. Many credit cards today have interest rates of 20% or more, making it feel impossible to get ahead. You do have options, but not all are equal,…
Explore More