Frequently Asked Questions About Credit

Does Closing a Credit Card Hurt Your Credit Score? Photo of Shannon McNay Shannon McNay Does Closing a Credit Card Hurt Your Credit Score? Anyone who’s battled credit card debt before may understand the feeling of wanting... Should You Open a Store Credit Card? Is a promotional interest rate or a discount worth opening a retail credit card? Here‘s how to decide if store credit cards are worth the perks they advertise. The Best Time to Ask for a Credit Limit Increase Consumers wonder when is the best time to ask for a credit limit increase. The proper preparations makes it easy to raise your credit card's spending limit. 10 Reasons Why You Are Drowning in Credit Card Debt Photo of Guest Contributor Guest Contributor 10 Reasons Why You Are Drowning in Credit Card Debt If you are somebody who is being overwhelmed by a mountain of credit card debt,... When to Use a Credit Card for an Emergency? Photo of Simon Zhen Simon Zhen When to Use a Credit Card for an Emergency? Mark Cartwright / Flickr |... 10 Things You Need to Know About Credit Cards For a first time credit card user, things can get a little tricky. Here are ten things every person should know when it comes to credit cards. Why Some Stores Don't Accept American Express Ever wonder why some merchants don't accept American Express? MyBankTracker did some digging and found out the reason merchants don't always accept AmEx. The Hidden Fee for Paying Off A Credit Card (Hint: Residual Interest) Photo of Simon Zhen Simon Zhen The Hidden Fee for Paying Off A Credit Card (Hint: Residual Interest) Rob Marquardt / Flickr | https://www.flickr.com/photos/sometoast/3140570760/ There... Why Credit Card Minimums Are Legal Photo of Simon Zhen Simon Zhen Why Credit Card Minimums Are Legal Question: It irritates me that I’m forced to pay a higher price when I use my... What Happens if You Maxed Out Your Credit Card We all know maxing a credit card isn't good but do you know the consequences? Here's what happens if you max out your card, how to prevent it, and how to fix it. How to Understand Your Credit Report Credit reports play an essential role for today's consumers. Your report can effect many things. But, do you even understand it? How is Credit Card APR Interest Calculated Photo of Simon Zhen Simon Zhen How is Credit Card APR Interest Calculated The numbers listed under "Interest" on your monthly credit card statement might be... How Credit Card Issuers Respond the First Time You Miss a Payment Photo of Jeanine Skowronski Jeanine Skowronski How Credit Card Issuers Respond the First Time You Miss a Payment You don’t necessarily need to panic the very first time you miss a monthly credit... Is a Credit Card Annual Fee Worth Paying It? Learn why some consumers shun the idea of paying an annual fee for a credit card while others maximize the useful benefits to make it worth that annual fee. How Do Secured Credit Cards Work? Secured credit cards are a great credit-building tool. Here's everything you need to know about how they work, how to get one, and how to improve your credit. What's the Difference Between a Balance Transfer and a Cash Advance? Photo of Rebecca Lake Rebecca Lake What's the Difference Between a Balance Transfer and a Cash Advance? Quick answer: A cash advance puts cash in your hands while a balance transfer is... Charge Card vs. Credit Card: The Differences Photo of Simon Zhen Simon Zhen Charge Card vs. Credit Card: The Differences The differences between a charge card and a credit card remains a mystery to many... What Happens If You Don't Use Your Credit Card? Not using your credit card may seem harmless, but can have surprising effects on your credit score. How to decide if you should use or close your dormant card. APY vs. APR: What's the Difference? While the face-value difference between APY and APR simply may be the last letter of the acronyms, the difference on your finances can be major. Are Credit Card Balance Transfers a Good Idea? Photo of Simon Zhen Simon Zhen Are Credit Card Balance Transfers a Good Idea? Statistics show that the average American household carries a credit card debt of...