Hey there! Great question, you know what, there isn’t actually a set limit to the number of credit cards a person can have. Some folks manage just fine with one, while others juggle a handful or even more. Just remember, each time you apply for a new card, your credit report receives a “hard inquiry” …
Annual Fee: A yearly fee for having the card. For example, a rewards card might have an annual fee of $95. Late Payment Fee: A fee for not making at least the minimum payment by the due date. This can be up to $40. Returned Payment Fee: A fee if a payment is returned, usually …
They do not have one. I think they should. Many businesses choose to offer a branded credit card to incentivize brand loyalty by offering special discounts, rewards, or benefits when customers use the card at their stores. However, Nike, being a global sportswear and footwear giant, primarily relies on a variety of other customer loyalty …
Before you apply for a credit card, you may have heard of a soft pull or a preapproval. These two terms describe different processes for getting credit card pre approval. Both processes allow you to gauge your chances of approval, but a soft pull is not a guarantee. You must complete a formal application to …
Soft Pull Credit Card Pre Approval [List of Issuers] Read More »
If you want to raise your credit score, you will need to know the various factors that affect your score. Missing a few payments is a bad thing, as is sending an account to collections. Filing bankruptcy will also hurt your credit. The credit usage that is considered to raise your score includes the number …
Your credit score reflects your ability to pay off debts. It is based on information from several different sources, including your credit card and retail account history, installment loans, finance company accounts, mortgages, and public records, such as bankruptcy, foreclosures, liens, judgments, and wage attachments. Your payment history helps your credit score when you make …
Improving Your Credit Score – How Payment History Affects Your Credit Score Read More »
The payment history that you have made on time will account for about 35% of your total credit score. However, this is only one factor. Learn more about the impact of bankruptcy on your credit score. Impact of bankruptcy on credit score The impact of bankruptcy on credit score is quite variable, depending …
Your credit utilization rate represents the percentage of your available credit that you are currently using. To calculate this number, divide your total credit limit by the amount you owe on each account. For example, if you owe $10,000 on a credit card, but only have $2,500 available on it, your credit utilization rate would …
What’s a Variable Credit Card Interest Rate? You’ve likely heard of it, but how do you calculate it? There are many factors that can affect the interest rate on a card, and the issuers will usually outline the calculation process in the card’s terms and conditions. Keep reading to learn how the interest rate on …
How to Calculate Variable Credit Card Interest Rates Read More »
A lot of people use credit cards to pay for gas, but how do you choose the best gas reward card? In this article, we look at some options: MBNA Smart Cash Platinum Plus, Discover it Cash Back, and American Express Blue Cross Preferred. Choosing the right card depends on how much gas you use …