Credit Cards

I’m a big believer in rewards credit cards, because if you use them wisely, you can get some great free stuff.  Over the years, I’ve gotten more great free stuff than I can name from using rewards credit cards.  A small sample includes two trips to Hawaii, a trip to New York, countless free hotel stays in various cities, free meals, gift cards, cash back, and more.  You get the point.  These rewards credit cards have enabled me to do things I wouldn’t have done otherwise.  For example, it’s a lot easier to justify a trip to Hawaii if the airfare and hotel are free.

But there’s one big caution you have to keep in mind with rewards credit cards.  Read the rest of this entry »

If your credit score is negatively affecting your ability to get credit on favorable terms, there are some straightforward steps on how to raise your credit score dramatically.  A high credit score will make it easier to qualify for mortgages, car loans, and credit cards, and will also help you to get lower interest rates on those loans.  So if your credit score needs a boost, here are four strategies to improve it.  Read the rest of this entry »

How much do you know about how your credit cards work?  Seventy-eight percent of U.S. households have at least one credit card, and the average American carries a balance of $3,000 in credit card debt.  In commemoration of Financial Literacy Month, the Associated Press has published this short quiz to test how much you know about the credit cards in your wallet. Read the rest of this entry »

Credit cards can be a double-edged sword.  On the one hand, they offer many advantages.  For example, they are a tremendous convenience, and allow you to limit the amount of cash you carry.  Credit cards are also easier to use than cash or checks, so they save time and eliminate hassles when making purchases.  Credit cards also come in handy when making online purchases, or booking travel reservations. Read the rest of this entry »