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Financial Frenemies
Financial Frenemies? There are some things that money simply can’t buy. You can’t purchase happiness or personal fulfillment. There’s no way to put a price tag on compassion or caring. The funds in your bank account can’t guarantee loving relationships or solid, caring friendships. But money can make relationships more complicated – especially if you’re surrounded by people who have less-than-healthy relationships with money. And whether you have a... -
What to do When Your APR Goes Up
I’ve written a great deal about credit cards over the years, from credit card security to disputing charges to what to look for in a credit card. I recently realized, though, that I haven’t said much about APRs (Annual Percentage Rates = interest rates) and what you can do when they go up. And chances are, at some point your APR will go up. Fortunately, though, credit card companies... -
Just Say “No” to These Credit Card Offers
If you’re a regular reader of this blog, you already know that I’m a huge proponent of responsible credit card use: When you avoid overspending and pay your balance in full every month, a credit card is a useful tool that can help you build good credit and/or repair not-so-good credit. And when you’ve got good credit, you have an easier time getting approved for things a car loan... -
Credit Card Theft- What to do if it Happens to You
I’ve posted quite a few articles about preventive credit card security – how to guard against hacking and skimming; how to keep your credit card information safe during the holidays, and how to protect your online identity with solid passwords. But what happens if, despite your best efforts, your credit card information falls into the wrong hands? What if your wallet is stolen? What if there’s a security breach... -
What to do After you Rebuild Your Credit Score
I’ve posted several blogs (such as this one and this one) about ways to rebuild or repair less-than-perfect credit scores — and with good reason. Your credit score determines what kinds of loans and interest rates you can get, and in some cases it can affect your ability to find a place to live or even a job. And while repairing your credit score isn’t impossible, it’s not exactly... -
Credit Cards and the Holidays
Credit Cards and the Holidays Plan on doing some holiday shopping this month? If so, there’s a good chance that you’ll be using a credit card for some or all of your holiday purchases. And, while there’s nothing wrong with responsible credit card use, the hectic holiday schedule of parties, shopping, and traveling can make even the most financially savvy folks a little scatterbrained, especially when it comes to... -
Debt Repayment Strategies to Avoid
You probably know by now that I’m a pretty big advocate of responsible credit card use. I don’t think credit cards are bad – but I do think that if you’re going to use them, you have to use them carefully and responsibly. Don’t overspend. Don’t treat them like cash or like an extra source of income. And, most importantly, don’t carry a balance – you should be able... -
Credit Card Rewards: Are They Worth it?
Credit card companies sometimes use rewards – things like airline miles, rewards points, and cash-back offers — as a way to attract new customers. But just how rewarding are these “rewards,” exactly? Are they worth it? Well, that depends. I have mixed feelings about credit cards to begin with. On one hand, I think credit cards can be useful tools that can help you build up your credit... -
Got Debt? Consider the Snowball Method to Pay it Down Quickly
If one of your goals for 2013 is to pay down your credit cards, it’s hard to go wrong with the “snowball method” of debt repayment. Chances are, you’ve heard about it before: it’s a favorite method of finance experts everywhere – and with good reason. The snowball method is a simple approach that encourages focusing on one credit card at a time. Through a strategy of prioritizing your... -
Before you Transfer: Tips for Making the Most of a Balance Transfer
A balance transfer – especially a balance transfer with a 0% introductory interest rate – can seem pretty tempting, especially if you’re feeling overwhelmed by mounds of high-interest credit card debt. But are balance transfers worth it? Will that 0% interest rate really save you money over the long haul? A typical balance transfer offer allows you to move some (or all) of your credit card debt to...