Best Credit Card Practices

Best Credit Card Practices

A credit card is a revolving credit line that allows you to charge purchases at any time up to the credit limit. If used responsibly, credit cards can be a handy way to pay for purchases but can lead to spiraling debt if a healthy approach to credit is not...
3 Credit Card Myths

3 Credit Card Myths

Credit cards are a financial product, and there are many credit card myths. When used well, credit cards can help your overall financial health. Benefits like rewards programs, price protection, and rental car deductible coverage make it worth having a credit card or...
Erase Credit Card Debt Forever

Erase Credit Card Debt Forever

The stress caused by carrying massive credit card debt that you simply cannot afford to pay back can be overwhelming. The financial burden usually comes with incessant collection phone calls, demanding letters, and can lead to being sued for unpaid debts and having...
Is It Okay to Use Credit Cards to Fund Large Purchases?

Is It Okay to Use Credit Cards to Fund Large Purchases?

Credit cards, when used wisely, can help your overall financial health. Of course, misuse of credit cards can get consumers into financial trouble. Is It Okay to Use Credit Cards to Fund Large Purchases? The answer to this question is: it depends. There are situations...
Dealing With Holiday Credit Card Debt

Dealing With Holiday Credit Card Debt

Americans who took on debt over the 2017 holidays reported an average of $1,054 new debt, according to a MagnifyMoney survey. This represents a 5% increase from the average amount of holiday credit card debt incurred in 2016. Do you have new or increased credit card...
4 Savvy Credit Card Strategies for Smart Spending

4 Savvy Credit Card Strategies for Smart Spending

Credit cards are a great asset. They grant spending power and often come with valuable benefits like fraud protection and coverage for damage to rental cars. Though, credit cards can be a great liability without smart spending. Over-spending on credit cards can...
My Credit Card Company Sued Me ― What Should I Do?

My Credit Card Company Sued Me ― What Should I Do?

If you have been sued by a credit card company it is time to face your debt problem head-on. Once a credit card company sues you they can get a judgment from the court. Once they have a judgment they have the right to take powerful collection actions against you,...
Tips to Get Your Credit Card Debt Under Control

Tips to Get Your Credit Card Debt Under Control

Americans owe more than $1 trillion in credit card debt. According to a 2016 study, the average American family owes $8,377 in credit card debt. While credit card debt may be common, there is a difference between carrying debt forward that you have accounted for in...
Using Credit Cards Before Filing Bankruptcy

Using Credit Cards Before Filing Bankruptcy

It is not uncommon for us to be asked during our free consultation about using credit cards before filing for bankruptcy. Can I use credit cards before filing bankruptcy? Should I stop using my credit cards if I am filing for Bankruptcy? What if I just maxed out my...
Credit Cards After Bankruptcy

Credit Cards After Bankruptcy

Filing for bankruptcy lowers your credit score in the short-term and will remain on your credit report for seven to ten years. However, it is a myth that people who file for bankruptcy cannot get loans or credit cards after bankruptcy. After bankruptcy people are able...
What It Really Means to Make Minimum Monthly Payments

What It Really Means to Make Minimum Monthly Payments

The minimum payment is the smallest amount of your balance you can pay and still meet the terms of your credit card agreement. Making the minimum monthly payment allows you to avoid late fees and to have a good repayment history on your credit report. But the truth...
How Credit Card Companies Get Rich

How Credit Card Companies Get Rich

Credit card companies make a lot of money. In fact, the Federal Reserve reports that earnings from credit cards are almost always higher than returns on all commercial bank activities. Today American consumers carry over $1 trillion in credit card debt. This is the...
Tips for Paying Down Credit Card Debt

Tips for Paying Down Credit Card Debt

Credit card debt is a drag. If you’re not paying your monthly credit card bill in full each month, you may wind up spending hundreds, even thousands of dollars, in interest charges. Consider this example: Say you owe $4,717 on a credit card with a 15% interest rate,...

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