How to Use Credit Cards to Your Advantage

When you have a high credit score, you’re more likely to receive lower interest rates on loans, more affordable premium rates on insurance, and better credit card benefits than if you had a poor credit score. And although we all want to strive for the best credit score possible, unfortunately sometimes consumers don’t realize the importance of using credit cards to help improve their scores. In fact, routinely using a credit card, sending in the credit card bills on time, and maintaining a low credit utilization rate all can help you bump up your credit score.

Use Cards Consistently

When the credit bureaus calculate your score, they take into account the length of your credit history.…

Credit Card Tips for 2013 Part 3

Part 2 and Part 3 tackled a lot of info and we hope you were able to digest it all and start using it to get your credit card affairs in order.  Part 3 contains more valuable Tips and info so if you’re ready we’ll get right into it!

 

OK, we’ll be the first to admit that the Federal Government isn’t on our‘nice’ list but, when it comes to credit cards, they do offer some excellent protection that you need to be aware of so that your credit card companies don’t take advantage of you if you have problems.

 

First there’s the CARD Act, or Credit Accountability, Responsibility and Disclosure Act.…

Credit Card Tips for 2013 Part 2

Welcome back for Part 2.  Let’s get right into it.

 

Credit cards come with all sorts of perks, as we discussed in Part 1.  There are many cards that don’t have the perks that we all hear about on TV but are still very valuable so it’s best to read the fine print before you sign up.  For example, some cards have roadside assistance plans should you break down somewhere.  This would be very convenient for you if you’re on the road  often or if you have an older vehicle.

 

Other valuable perks include purchase protection as well as extended warranties, something that fewer cards carry these days.…

Credit Card Tips for 2013 Part 1

Your credit rating and score are an important part of your financial life.  Keeping both healthy, or repairing them if they’re not, is vitally important for future endeavors like opening new accounts, purchasing anew car or new home, and even getting student loans for your children. A large part of your credit score hinges on your Credit Card history and balances.  In this 3 Part series we’re going to look at the best Tips and ideas that you can use to keep your credit card history healthy and/or repair it if it’s a bit of a mess.

 

The best way to start anything if from the beginning with a clear idea of where you are.  If you don’t know where you are you’ll never know when you’ve gotten where you want to be.  With credit cards the best way to know where you are is to get your credit reports from the Big 3 credit reporting agencies, TransUnion, Equifax and Experian.…

How to Negotiate Credit Card Payoffs

Running up a huge credit card bill is unfortunately something that tends to happen very quickly and very easily in many cases and can leave the person holding the credit cards in a very tight financial squeeze.  When financial problems occur that cause you to not be able to keep up with the ever increasing credit card bill it may be time to consider negotiating a payoff, and it’s usually better to do this before you damage your credit too badly.

Before we look at how to do that, keep in mind that you can certainly do this even if you’re not in dire straits but the major credit reporting agencies will look at every negotiated payoff as a settlement which in fact can still damage your credit.…