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Credit Card
Credit Card Interest Rates the Highest in Nine Years
We're happy about the new credit card rules finally taking place this week, but the Wall Street Journal reports this morning that these laws have triggered the highest average credit card interest rates in nine years — 14.7 percent.
This means that when you sign up for a new card, you're going to face a pretty high rate because banks aren't able to charge certain fees and don't have the ease of changing rates like they used to. Still, Credit Card Act of 2009 sponsor Rep.
New Credit Card Rules Begin This Week
The last stage of the Credit Card Act of 2009, passed in Congress last May, finally takes effect this week. Here are some of the important changes that savvy consumers should take note of.
- Penalty Fees: Your late fees can't exceed more than $25 of the minimum payment on your credit card.
12 Common Credit Card Questions Answered
Credit cards can be your best financial friend and your worst enemy. No matter how organized you are, staying within your limit, finding a card with a fair interest rate, and making payments is a monthly challenge. I get questions every day from readers about how to manage and navigate offers and keep your credit score sky-high.
Do You Have Any Store-Specific Credit Cards?
They wore me down, folks. After years of resisting a Gap card, I caved. I realized my basics shopping could be stacking up points and if I time my shopping just right, I can get a solid discount.
Get a Reality Check on Spending With Real Damage Website
When it comes to credit cards, I think we all know we're not always getting what we pay for — or rather, we're paying for a lot more than we get. Factor in interest rates, APR, and how long it takes us to pay off our charges, and we're really looking at spending a whole lot more than we planned on. Still, with item — and card — in hand at the checkout, we're rarely calculating the real damage.
What Do Tom Hanks and Your Credit Card Have in Common?
If you said an affinity for complicated mathematical equations, you’re right! Within every credit card number is a hidden, Da Vinci Code-esque formula that can tell you whether or not the card is valid. The code was developed pre-computer as a way to check for data entry errors or fraud, but it still works today.
Do You Know When to Go Debit or Credit?
Lately, I've been in the habit of swiping my debit card. I feel like it keeps me honest and I'll avoid incurring any credit card charges that might linger longer on my account. Still, there are those times when a credit transaction might just be the better option.
Ask a Savvy Bride: My Engagement Is Wreaking Havoc on My Credit Card
Being engaged is a rare special occasion in life, so it's no wonder people go to great lengths to make it perfect. That need for perfection comes at a cost, and it's easy to get carried away. Your special wedding season Ask Savvy questions, like this one below, will be answered by SavvySugar and a very savvy bride.
Ask Savvy: Answers to 12 Common Credit Card Questions
Credit cards can be your best financial friend and your worst enemy. No matter how organized you are, staying within your limit, finding a card with a fair interest rate, and making payments is a monthly challenge. I get questions every day from readers about how to manage and navigate offers and keep your credit score sky high.
Money Tip: Save Money by Paying More Than the Minimum
Making a dent in your credit card debt can seem daunting, but it doesn't have to be so difficult. More than 40 percent of you have resolved to pay off credit card debt this year, so I have a tip for making sure you achieve your goal more quickly.
Paying the minimum on your balance will satisfy the creditor's demands, but it won't help you make noticeable progress on your debt.
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