Answers
I want to use credit card and debit card to purchase items from commercial outlets. If I use credit card is it beneficial to mw or is it debit card? which is the best & which is the worst (harmful to my finance)?. This prompted me to ask the question.
With a credit card, the credit card company pays for the item and bills you at the end of the month. With a debit card the money is sucked out of your account immediately. So the credit card is better in that case.
With a credit card the seller pays a fee for the service. With a debit card, YOU pay the fee, often a small amount is added onto the bill. Score another one for the credit card.
My card is a bank ATM card, also a credit card and also a debit card. When I use it they ask me 'credit or debit?' But either way it takes the money out of my account immediately. Still credit is better because I don't pay a fee.
www.cambridge-credit.org -- Many people have adopted a frugal lifestyle lately to help them adjust to today's difficult economic conditions ...
i was thinking of transferring all of one credit card balance to another card so that i can pay off just one card instead of 2 is it beneficial or just a waste of time and money I'm really confused about all this can you please help me?
I'm not doing it to save paper or stamps i pay all of my bills online and NEVER receive paper statements so an actual answer will be appreciated i don't want any "green" answers thank you.
If the interest rates are different it would save you money if you transfer the balance on the higher rate card to the one with the lower rate. You may want to check with both card companies. Tell them you are looking for a lower interest rate or you may transfer your balance to another card. See if either will lower the interest rate. Then check to see if either will offer a discounted rate for transferred balances. Every penny counts these days.
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I'll give an example. Say I use my credit card for necessities like family groceries and gasoline, as opposed to non-necessities like games, jewelery, or new room furniture. Does this have any effect on my credit score, or no?
Of course I plan to use on the credit card only what I can pay off at the end of the month. That's a very good way to builld credit. Thank you all to giving me a very good, straightforward answer.
Nope, not at all ;)
The only way a secured credit card helps your credit is if they report the card as unsecured. Reporting the card as secured does nothing to help your credit score, because you have not actually been extended credit. A credit card that is secured is not the same as an automobile loan that is secured by the car.
Try to get an unsecured credit card. Avoid First Premier, Tribute, Rewards 660, Imagine, Total, and Continental Finance. These are all high fee / low limit credit cards that amount to nothing more than a scam.
Avoid Capital One. They do not report your credit limit and that damages your credit score. Example, they give you a $500 limit and you use $250, they will report your limit as $250. This will damage your credit score because instead of using 50% of your credit limit, it looks like you are using 100% of your credit limit.
Orchard Bank has a low interest rate (14.90, good for a sub prime card), low annual fee, no hidden fees and if you manage your account properly, they give excellent credit limit increases at regular intervals.
My girlfriend is twenty six and has zero credit. I want to help her build a credit history so we can eventually buy a house. My concern is that while currently my credit is in good standing, and my overall scores are on the upswing I did have a lot of trouble in the past. Would my checkered credit history affect her in a negative way, considering that I am currently in good standing with all of my accounts?
Oh, and I would trust her with all my assets in cash, so that's not a concern at all.
As of January 1, it will have no effect on your credit or hers. The process, called 'piggybacking' was done in order to raise people's poor credit, by adding them to the cards of people with great credit.
The credit bureaus are no longer going to take this into consideration.
Settle Credit Card Debt | Financial Advisor
Properly and settle in full at the end of each month, it doesn’t even cost you anything. Ah, but therein lies the problem. They are just too deliciously easy to abuse. The car needs new tyres, the kids need new clothes, and suddenly you have overspent. To pay it all off in full is going to eat too heavily into your monthly wages.
It happens to the majority of people who have If it gets out of hand, let’s take at ways you can settle your credit card debts.
Since you have voluntarily signed up for credit, there are rules that govern this type of loan. The deal is, if you can’t settle in full you will be charged ongoing monthly interest.
When it gets to extremes and you find you can’t settle your company.
...News
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