We are all the same. We are all different.
It seems like every personal finance blog has at least one “best credit cards” post. And some have several. But one size doesn’t fit all. The real question is what credit card is best for different types of spenders?
Profiling doesn’t apply to everybody, of course, but it can give you a good idea of which card is most likely to appeal to your needs.
Everybody talks about what to do once you have a balance transfer credit card (even we do). But who talks about what you should do before applying? Well, today we do.
A balance transfer is a big step involving usually quite a bit of money. Don’t go into it blind. Have a plan to make it successful.
The acronym “APR” stands for “annual percentage rate“. This means, in simple terms, the percentage you must pay in interest each year on the amount you borrow. You might even be satisfied with that simple definition.
So when you hear a credit card advertized as zero percent APR, it means that over the course of the year, you will pay no interest. And, yes, zero percent APR cards are for real. But it does get more complicated from there.
This post details a number of the complications, from how frequently interest is calculated to the amount on which it is calculated to individual credit risk…and several other factors.
Frequent flyers are just one group of people who might want to pay an annual credit card fee over a no annual fee credit card.
If you’ve ever looked at your credit card statement and wondered how it adds up so quickly, the answer might be in your gas station habits. Want to lower your credit card statement? Then why not try some of these changes of habit?
from Card Guys
If you want to learn a little bit more about credit cards — or just test your knowledge — you can take these credit card quizzes. Learn more about the basics of credit cards, understanding how they work and how they affect your credit. You should also take the quiz about credit card myths. Find out more about the persistent myths that continue to mislead consumers.
Your first move, as a parent, is to explain how credit cards work. Teens need to understand that credit cards don’t represent “their” money. Credit cards are loans. Show your child a statement, and explain that when you carry a balance, money is added to the total, since you are charged interest.
The resources in the Credit Education Centre are designed to educate parents and teens on the responsible use of credit cards. The goal is to empower the next generation of cardholders with the information they need to use credit responsibly and prosper financially without the burdens of excessive debt.
