Did you know that credit is older than money itself? It’s true. Back in the Bronze Age, before even silver and gold became common currency, farmers would borrow seeds or livestock from merchants and pay them back with crops or meat from their harvest, including interest.
Credit card rewards can vary from issuer to issuer, card to card. Depending on where consumers tend to spend their time and money, different rewards offers may suit some better than others. There are many ways to view the monetary benefits of different rewards programs, which is why it’s always worth comparing credit card offers before making any final decision.
Have you been thinking about canceling a credit card, but aren’t sure if you should? While keeping a credit card active has its benefits, there are instances when it may make sense to cancel an account. How do cardholders decide when to cancel a credit card and when to keep it open? Let’s break down the pros and cons.
Recessions cause uncertainty, provoking a greater need to monitor one’s financial health. Fortunately, the best credit card practices to prepare for a recession don’t deviate much from the conventional wisdom. For most consumers, the safest courses of action are to keep making timely payments and limit overspending.
When consumers are considering their next credit card, one thing that usually sticks out like a sore thumb is the annual fee. They may ask themselves, why do I have to pay this? Or, what’s the difference between a card with an annual fee and a card without one?
For consumers with bad or no credit history, a secured credit card can be a suitable option for many reasons. A secured credit card is a card that is literally “secured” by a cash deposit provided by the consumer, which doubles as part of or their entire line of credit.
For consumers who actively use their credit cards, it’s important to understand the details of the different account balances, in how they apply to payments and potential charges. A misinformed consumer can end up paying unnecessary interest or carry too much debt on their month-to-month balance without the right understanding.