Credit card rewards help our family save money on groceries, gas and other necessities. We also use rewards for airline tickets, hotel rooms and airport lounge access. We’re in good company. Most Americans have at least one rewards card, and nearly half of rewards cardholders are using their perks to help offset rising inflation, according…
Another Fed Rate Hike Could Cost Credit Card Users $1.7 Billion Over Next 12 Months: Report
Another interest-rate hike by the Federal Reserve could cost credit card users at least $1.7 billion in added interest charges over the next 12 months, according to a new report from WalletHub. The report, published on May 1, found that consumers will pay around $31.7 billion in extra interest charges over the next year due to…
Shop for a More Rewarding Credit Card
By Lisa Gerstner From Kiplinger’s Personal Finance Is your old rewards credit card not so rewarding any more? If so, you might want to shop for a new one. “Many changes over the last few years have brought more value to regular, everyday spending,” says Cyndie Martini, CEO and founder of card-processing platform Member Access…
This Is What Happens When Financially Immature Students Get a Credit Card
Our kids are fortunate to be growing up in the most progressive and exciting time in history. Sadly, the very culture that offers them the world is also perpetrating this lie: “You are entitled to have everything you want, even if you don’t have the money to pay for it. It’s not a problem. You…
10 Best Credit Cards for Fair Credit
Having a credit card offers a wide range of benefits. Hit with an unexpected expense like a flat tire or broken water pipe? You can take care of it right away and pay off the bill over time. You can also keep an itemized list of payments, apply for loans and even earn rewards like…
My Life as a Frog
I have been told if you attempt to pop a frog into a pot of boiling water, he’ll jump out every time. But if you put the little fellow into a pot of cold water, set it on a low flame, and warm it slowly, he’ll sit back, relax and let you cook him to…
Reader Discovers It’s Difficult to Pay the Balance to the Penny
Dear Cheapskate: This is petty perhaps, but how does one ever completely pay off a credit card account? We paid off a credit card recently (Hallelujah!) by sending a check for the exact amount of the balance due taken from the monthly statement. The following month we received a bill for $1.91—all of it a…
How to Avoid Points and Miles Hoarding
March 9, 2023
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Most personal finance advice boils down to this: Save as much as you can, and spend as little as you can. That’s the simplest way to accumulate wealth, build investment income and achieve financial independence (even if it’s not so simple in practice). Yet when it comes to travel rewards—those points and miles earned through…
Discover Credit Cards Will Track Gun Purchases From April
Credit card provider Discover Financial Services will soon allow its network to track purchases made using payment cards at gun stores—triggering criticism that such activity leads to targeting gun owners. In September, the International Organization for Standardization (ISO) had launched a Merchant Category Code (MCC) for gun retailers. ISO is the organization responsible for classification…
Worrisome Trend Emerges Among Credit Card Holders
Americans are saddled with the most credit card debt in decades as a new report issued Thursday found that its nearing the $1 trillion mark. A report from the Federal Reserve Bank of New York found that “credit card balances increased by $61 billion to reach $986 billion, surpassing the pre-pandemic high of $927 billion” in…
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