Tag: Credit

  • Here’s Why Some Businesses Charge You Extra For Using A Credit Card

    Credit card issuers charge merchants a processing fee for each transaction they accept using their respective cards. These fees add up fast, can ultimately cut into a business’s profits, and can even lead smaller businesses to choose not to accept credit cards at all. This is also why it’s common to see stores refuse Discover…

  • This Is The Worst Time To Ask For A Credit Limit Increase

    If you’ve recently opened up new lines of credit or already requested higher credit limits from other lenders, that’s not going to send a vote of confidence to your issuer. Lenders could conclude that you’re entering a financial emergency and need additional credit just to pay your bills. Whenever a new account is opened, the…

  • What’s A Good Limit To Have On Your Credit Card?

    People with good credit and a reliable payment history are typically more likely to qualify for higher credit limits than those with lower scores or less consistent histories. With that in mind, there are a multitude of factors that can go into how a lender determines your credit limit including everything from employment status to…

  • If You Miss A Monthly Credit Card Payment, Here’s What Happens

    The first thing customers will face when missing a credit card payment is a late fee. These fees can vary depending on your cardholder agreement, and the credit card issuer’s policies. Legally, credit card companies can only charge certain amounts for late fees. For instance, a first-time late payment can only be charged a fee of…

  • 11 Things That’ll Tank Your Credit Score

    Obviously, missing a payment is detrimental to your efforts to create a good credit history. A missed payment, if left for long enough, will be reported to credit bureaus and linger over your future credit health. Missed payments are one of the most visible forms of breaking your agreement to repay a loan, and if…

  • What Happens When You Only Make The Minimum Payment On Your Credit Card

    Terms vary widely, but most credit cards offer some riff on the same Faustian bargain: Spend money you don’t have and pay it back in 30 days, or else get charged double-digit interest on the outstanding balance. If you fail to make even the minimum payment, you will be subject to additional fees right on…

  • What’s The Highest Possible Credit Score And How Can You Get It?

    Now that you’re aware of how your credit score is measured, let’s find out the scoring system and how you can get the best results possible. When you look up your own personal credit score, you’ll notice you’re assigned a three-digit number representing your rating. This number system ranges from 300 to 850. The Fair…

  • Here’s How Many Credit Cards You Should Actually Have

    Everyone has a different financial situation and how they deal with credit. If you’re the type of person that has trouble balancing their budget and rely too heavily on credit cards, then maybe having less credit is a better option. Especially when it comes to building a good credit score — which is largely based…

  • What You Need To Do To Freeze Your Credit

    If you find that you’ve been a victim of credit card fraud, then you should make certain you contact your financial institution in order to make them aware of the situation. From there, you might have to explain what charges you’re responsible for and which were made from a nefarious outside source. It might then…

  • 15 Best Tips To Build Credit Fast

    One of the most important things you can do to maintain a healthy credit score and increase it over the long term is to pay your bills on time, every time. Ensuring that you meet at least the minimum payment required for each of your bills every month will keep your credit score moving in…