All Credit cards Articles

Q: Dear Dr. Don, I am worried that when my fiance and I get married anything negative on either credit report will affect us. Will it affect us if it is not a joint account together and it happened before we got married? Please help me ease my mind so I can get back to planning my wedding. -- Melissa Matrimony A: Dear Melissa, You both bring your credit histories with you into the Read more...

Q: Dear Debt Adviser, I owe about $55,000 in credit card debt. Should I apply for a home equity line of credit to pay this off? I received a very low rate on the card, so I put my vehicle on the one credit card a few years ago, plus house repairs. Now the creditor wants to raise my interest rate from 2.99 percent to 14.99 percent. I cannot afford these monthly payments. I was never late with Read more...

Q: Dear Dr. Don, My fiancee and I pulled our credit reports in anticipation of purchasing a home. When I pulled my credit report, I was surprised to learn that my parents made me an authorized user on several accounts, some of which had negative payment history that was negatively affecting my credit score. How can I get myself removed as an authorized user? Will removing me as an authorized Read more...

The first phase of the Credit Card Accountability Responsibility and Disclosure Act went into effect Aug. 20. Prior to that, opponents warned for months about the consequences of the law for U.S. cardholders. The restrictions on interest rate hikes and other rules would result in higher rates for all, lower limits and more fees, among other negative changes. And now? "What has been Read more...

When many women think of credit, their first thought is the array of plastic cards in their wallets -- one from nearly every store in the mall. Maybe you're at the other extreme -- so wary of credit that you've paid off your mortgage and your car loan and cut up all your credit cards. Too much credit or not enough -- both can hurt your credit score and cost you thousands of dollars or Read more...

Q: Dear Debt Adviser, I am 27 years old. I have a mortgage, school loans and an auto loan. I also have about $20,000 dollars in credit card debt. I am able to pay all my bills every month. In most months, I am able to pay a little extra to each of my credit cards. I have stopped using my credit cards and I am trying to get my life back on track. My question is do I continue to pay off my credit Read more...

Q: Dear Debt Adviser, I retired nine years ago, and I bought a house three years ago. I am getting a retirement pension from my previous job and a little from Social Security. I have been robbing Peter to save Paul and keep up with my credit cards. I was not behind in any payments, but now am at the point where I am using my plastic to buy essentials, food, gas, etc. I cannot do this any longer. Read more...

So you thought you knew everything you needed to do to improve your credit score. Do you know what score card you're on? When it comes to credit scores, you may not realize the importance of your peers. Scoring models compare you with other consumers with similar credit profiles rather than everyone with a credit score. That's right. There isn't just one formula that spits out a score for Read more...

Q: Dear Debt Adviser, My question is where to focus any extra monthly income? Originally we wanted to throw everything at our credit cards so that we could eliminate our high credit card debt, improve our credit and, as a result, be able to refinance our house and car at a lower interest rate. Now with the economy doing so badly and the jobs' futures up in the air, I'm at a complete loss. Read more...

Teresa Bower feels like a sucker. In an e-mail to Bankrate, she explained that a live person from a New York-based company, which she identified as Easy Financial (see screenshot of the Web site), called her Nebraska home and offered to negotiate lower credit card interest rates. The caller promised APRs between 6.99 percent and 4.99 percent on her two credit cards, which carried interest rates Read more...

Tough economic times are changing the way Americans collect and redeem credit card rewards program points. Gone are the days of hoarding loyalty and rewards program points for an all-expenses-paid trip to Paris or a weekend romp in Las Vegas. The recession has brought consumers' point redemption habits back to earth -- literally. For the first time in history, more U.S. consumers belong to Read more...

Don't let a fraudster, pickpocket or identity thief ruin your next vacation. These 15 financial safety tips will show you how to protect your wallet, your valuables and your financial information when vacationing in America and abroad. Lighten up your wallet. Only carry the credit cards you'll be using on your trip and leave the rest at home. Pack an ATM/debit card for withdrawing cash at Read more...

For Bankrate's 2009 Credit Card Study, we decided to look at terms and conditions -- the fine print of the credit card agreement. With the passage of credit card legislation, changes to these terms are coming -- but not yet. This study shows where credit cards are today, before the new law takes effect Feb. 22, 2010. (Read Leslie McFadden's analysis to see how the new law will affect these terms Read more...

You got a pink slip. Your head reels from the shock and there's a knot of fear in the pit of your stomach. Figuring out the answer to the question, "Now, what?" seems like the hardest job you've ever faced. Take a deep breath. You can take steps to ensure your financial survival during this period. 1. Get to the unemployment office fast Ideally, before you left you received a Read more...

Want to get the absolute best value on your next international trip? Pack your wallet as wisely as you pack your suitcase. These quick and easy money tips will show you how to get the most bang for your hard-earned bucks while making purchases and getting cash outside the U.S. Pack your favorite credit card or two. A credit card is a great way to pay for large purchases, such as hotel Read more...

Q: Dear Debt Adviser, I'm considering paying a credit repair company for its services, but I don't know much about the firm other than it charges $100 to join and $30 a month for erasing bad credit items from your credit report. I also have a personal loan. I was desperate for money, and my lender was the only one to approve me. The loan was for $6,000, and I'm paying $255 a month. The Read more...

On May 22, President Barack Obama signed the Credit Card Accountability, Responsibility and Disclosure, or Credit CARD, Act of 2009 into law. The legislation will improve consumer disclosures and end some egregious practices in the industry but stops short of capping interest rates and fees. Most of the provisions go into effect Feb. 22, 2010, unless otherwise stated. Here's an overview of the Read more...

A growing number of readers' e-mails to Bankrate are asking the same question lately: Should I opt out of this rate hike? Credit cardholders given the chance to avoid an imminent rate increase face a number of options, each with pros and cons. No federal law or regulation requires issuers to offer cardholders a chance to reject a rate re-pricing, or opt out, according to Chi Chi Wu, a staff Read more...

In 2005, the Corbett family had about $500 in savings and $12,000 in consumer debt. About half of the money they owed was a result of credit card obligations. "We were spending every dollar that came in, and then some," says Jason Corbett, a 34-year-old nonprofit manager who lives in Soperton, Ga., with his schoolteacher wife, Molly, and their three children. Determined to be Read more...

On Dec. 18, regulators approved new credit card rules that offer significant protections for consumers. The regulations passed by the Federal Reserve Board, Office of Thrift Supervision and the National Credit Union Administration amend Regulation AA regarding unfair and deceptive acts and practices and the Truth in Lending Act. Some of the major changes include restrictions on retroactive rate Read more...