Fees

Credit cards provide us with a great deal of convenience in our day to day lives. Instead of having to carry around our checkbook, or constantly run to the ATM to make sure we have enough cash for our shopping, we can just use a credit card. In addition, you’re protected against unauthorized credit card use (even if it’s a bit of a hassle to get those protections), whereas if you lose a wallet full of cash then there’s a good chance you’ll never see that money again. Many credit cards also provide extended warranties on products that you...

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Your credit card can be a great help at easing the stress of international travel. You’ll be able to reserve cars and hotels with a minimum of hassle, not have to worry about losing a wallet or purse full of cash, and you’ll have an accurate record of all your spending when you return home. But unless you travel abroad a lot, you might not be aware of the foreign transaction fees that may apply to much of your overseas spending. Here is a brief explanation on what foreign transaction fees are all about, and some steps you can take...

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It might not make sense to most of us. Even though interest rates on home mortgages have fallen to historic lows, and the interest rates we earn on our savings accounts and CDs are near 0%, interest rates on credit cards seem to be rising. Why exactly is this happening? Not surprisingly, there are a number of different opinions, and doesn’t necessarily appear to be any single element that’s leading to the credit card rate increases. It’s probable that rising credit card rates are due to a number of different factors, although it’s difficult to know exactly how much each...

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There’s always a concern that we’re getting hit with “hidden” fees on our credit card accounts. The fees aren’t actually hidden, of course, since the current laws governing credit card companies make it virtually impossible to impose any fees that we were not made aware of or agreed to. The problem is that many times we agree to credit card terms without actually reading or understanding what we are agreeing to. In those cases, while the fees might not have been “hidden,” they can certainly come as a surprise. Here is some credit card advice and information about some of...

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As you may know, a new credit card consumer protection law came into effect in 2010. The concept behind the law – known as the Credit CARD Act of 2009 (it was signed into law in 2009, but became effective in 2010) was to prevent banks and credit card companies from using certain business practices, and assessing certain charges, which Congress believed were keeping borrowers in debt for longer periods of time. The new law has a number of different provisions that may change how you do business with your credit card company, and may end up saving you...

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Credit card companies find ingenious ways to get extra money out of cardholders — and they're all legal. If you haven't reviewed your account statement lately or read the fine print on the fee-disclosure booklet, you may be surprised to know how much you're really paying. For example: Pay the bill one day late and you could incur a penalty of $25. The same thing could happen if you go over your credit limit. (If you're a good customer they won't decline the transaction, they'll just charge you extra for it.) Such minor "transgressions" can also bump you to a...

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