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How Many Credit Cards Should You Have?

When building and maintaining credit, a question that often comes up is: “How many credit cards should I have?” It’s understandable that people think there’s a formula or magic number that’s right for everyone. The truth is, like all things related to personal finance, the answer varies based on each person’s individual circumstances and goals. […]

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Common Questions About Credit Card Balance Transfers

When used carefully, credit card balance transfers can provide convenience and help you save money. But there are also a lot of misunderstandings about the balance transfer process, how to use it and who can benefit. Let’s look at these common questions about credit card balance transfers. How Do I Use a Balance Transfer? The […]

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Learn How to Decode Credit Card Offers

Credit card offers can be filled with confusing lingo. But the meaning behind terms like APR and variable interest rate can reveal whether a credit card actually makes sense for your personal finances. A good rule of thumb is that the fine print usually matters more than the flashy, bold print. Understanding what these terms […]

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Why Did My Credit Card APR Increase?

Many credit card customers don’t realize the short- and long-term effects their cards’ APR (Annual Percentage Rate) can have on their finances. But it’s a crucial detail for credit card holders to understand. That’s because, if you carry a debt on your card from month-to-month, your APR determines how much interest you pay on purchases. […]

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Get to Know These Misunderstood Financial Products

With the popularity of financial apps like Venmo, Cash, and countless others, there are more ways than ever to send and receive money. But not everyone is comfortable with or able to use these apps. And sometimes, the parties conducting the transaction prefer more traditional financial tools. Let’s look at these often-misunderstood financial products and […]

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Should I Ask for a Credit Limit Increase?

All new credit cards come with a credit limit, which is the amount you can charge up to on that card. Depending on the type of credit card and your credit history, the credit limit may be anything from a few hundred to many thousands of dollars. After you’ve used the card for a while, […]

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What Happens with a Credit Card Delinquency?

When you’re running short on cash, it might not seem like a big deal to miss a credit card payment or two. You’ll make plans to catch up the following month, only to find that money is still tight. By the time the late payment hits the 30-day mark, the delinquency can start to affect […]

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Everything You Need to Know About Credit Limits

Using credit responsibly includes understanding credit limits and how they can affect your finances. Let’s take a look into some common questions surrounding credit limits and what they mean for consumers. What is a Credit Limit? When a consumer opens a new credit card, that card includes a credit limit, which is the amount of […]

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Buy Now, Pay Later Loans — What You Need to Know

Remember layaway? It was a service many retailers offered that allowed customers to buy now and pay later without using credit cards. A customer would select their items, place them on layaway, make a small down payment, and then pay the balance in installments. Once paid-in-full, the customers took home their items. It was an […]

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What is a Charge-Off & How Does it Affect Credit?

Of the many things that can affect a consumer’s credit report and score, having one or more accounts showing as “charged off“ is among the most harmful. Consumers with charge offs on their credit report will have difficulty obtaining any new credit. And what credit they are able to acquire will come with exorbitant interest […]

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