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How to Read Your Credit Card Statement

Published April 2021

If you are trying to stay out of debt – It’s important to know how to read your credit card statement.

You should be looking over your statement every month for errors, unnecessary or forgotten recurring bills, fraudulent charges, etc. Take notice of your interest rate, especially if you are carrying a balance month-to-month.

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Topics: Credit Card Debt

What to Do When You've Maxed Out Your Credit Cards

Published April 2021

Maxing out your credit card hurts your credit score. To your creditors, the fact that you use $2,000 of your available $2,000 credit means that you have stretched your finances to the limit and may soon become unworthy of credit.

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Topics: Credit Card Debt

Avoiding the Minimum Payment Trap

Published March 2021

If your goal is to pay off credit card debt in a reasonable amount of time, you are going to have to pay more than the minimum payment. Here’s why.

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Topics: Credit Card Debt

Quick Guide to Common Credit Card Terms

Published February 2021

When you get your credit card statement, does the language look like Greek to you? Sometimes it's difficult to understand exactly what your credit card provider means because credit card companies often write in "legalese."

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Topics: Credit Card Debt

How Many Credit Cards Should You Have?

Published February 2021

Whether multiple credit cards will help you or land you in debt depends solely on how you manage them. If you have out-of-control credit card debt, having more than one credit card is a bad idea because available credit may be a temptation you cannot resist. On the other hand, if you are never tempted to use your credit card inappropriately, having multiple credit cards can offer some advantages.

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Topics: Credit Card Debt

Should You Close Paid Credit Card Accounts?

Published January 2021

You have just paid off your credit card and taken a big chunk out of your debt in the process. Congratulations! Now, you face a question: Does it make sense to close a paid-off credit card account?

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Topics: Credit Card Debt

Paying Rent with a Credit Card

Published January 2021

The Coronavirus Pandemic is causing financial hardship for many Americans, even forcing some to put important bills like rent on their credit cards. This could cause a massive increase in credit card debt when the pandemic is over.

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Topics: Credit Card Debt

Credit Card Debt: How Much Is Too Much?

Published October 2020

Whether you think that you need credit card help or not, it always pays to match your financial situation against a few metrics that can provide a reality check about credit card debt in general. 

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Topics: Credit Card Debt

How Do Credit Card Companies Make Money?

Published September 2020

According to a ValuePenguin study, credit card companies generate approximately $213 from each active credit card account per year. That translates to billions of dollars annually.

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Topics: Credit Card Debt

How Credit Scores Impact Credit Card Interest

Published September 2020

“If you don’t take good care of your credit, then your credit won’t take good care of you.” – Tyler Gregory.

According to Experian, 72 percent of consumers believe that having a good credit score is important or very important. They're right. From the perspective of the financial industry, your credit score is one of the most important indicators of your financial health.

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Topics: Credit Card Debt

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