Credit Card Debt Isn't Age-Specific
Stereotypically, college students are the group plagued with credit card debt. While cash isn't readily available for them, credit is. But college students aren't the only ones who have a high debt load. Credit card debt affects virtually every age group from 20-somethings to senior citizens.
Society's focus on consumer goods encourages people to use credit cards to maintain a certain type of lifestyle. Rather than pushing us to make wise decisions about the things we purchase, culture says, "If you don't have the money for it, just charge it." Meanwhile, credit card balances rise higher and higher, with minimum payments increasingly becoming out of reach.
It's a vicious cycle that quickly snowballs into a huge debt that's nearly impossible to manage. Credit cards don't become less appealing as you get older, which is why it's urgent that you learn to make good decisions earlier in life.
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Credit Card Debt Isn't Age-Specific originally appeared on About.com Credit / Debt Management on Friday, August 27th, 2010 at 04:00:48.
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Best Cashback Rewards Credit Cards
When it comes to rewards credit cards, I'll take cash over points any day. If you're looking on your own cash back rewards card, you might have a hard time finding a generous cash back program. A lot of great rewards credit card deals have disappeared ever since the Fed put out rules that limit the fees and interest rates credit card issuers can charge.
Fortunately, we've done the work for you and found a few of the best cash back rewards cards deals out there. The cards that made the top 5 list are not only good for cash back, some also have great balance transfer deals and low interest rates on purchases. Check out the Five Best Cashback Rewards Credit Cards.
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Best Cashback Rewards Credit Cards originally appeared on About.com Credit / Debt Management on Thursday, September 2nd, 2010 at 00:53:40.
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Orchard Bank Secured MasterCard Review
Secured credit cards are a great option for people who have bad credit and need a credit card to start rebuilding. They're also good for those who need a first credit card to gain some positive credit history.
Check out Orchard Bank's Secured MasterCard which has a low 7.9% interest rate and no account processing fee. If you've used this credit card, leave your own review.
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Orchard Bank Secured MasterCard Review originally appeared on About.com Credit / Debt Management on Saturday, August 28th, 2010 at 00:39:28.
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Credit Card Offers Are Worded to Deceive You
Credit card offers are written to entice you to apply and some of the wording is a bit exaggerated. CardRatings.com has a list of the 8 Most Deceptive Terms Used in Credit Card Offers and I definitely agree with the list. I've seen quite a few of them on credit card offers, especially "0% Fraud Liability" and "Helps Build Credit."
You can't believe everything you see in a credit card offer. The truth is buried in the credit card disclosure. That's where you'll find the truth about the APR and credit card fees.
Credit Card Offers Are Worded to Deceive You originally appeared on About.com Credit / Debt Management on Friday, September 3rd, 2010 at 02:21:54.
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Drawbacks of Retail Store Credit Cards
I love shopping but I dread the question nearly all store clerks ask now: "Would you like to save 10% and sign up for our credit card?" I used to let them down gently and say I already had the card, but preferred not to use it. Now, I just say that I'm not interested in a new credit card.
Store credit cards are relatively easy to get if you're just starting out with credit or you're rebuilding a bad credit history. But, they may be a little too good to be true. Store credit cards aren't all they're cracked up to be. They have high interest rates, low credit limits, and don't help your credit score as much as you'd think. That's just a few negative things about store credit cards. Find out 6 Drawbacks of Retail Store Credit Cards to help you choose whether to keep these cards in your wallet.
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Drawbacks of Retail Store Credit Cards originally appeared on About.com Credit / Debt Management on Wednesday, September 1st, 2010 at 03:25:58.
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