Studies show that over 75% of college students have a credit card, and they can be a great asset for a student. Credit cards are convenient, can help build a good credit history and can help young people learn money management skills.
Read the full story »How to get out and stay out, as well as other sticky issues like dealing with debt collectors and loan consolidation.
Reviews, Tips & Tricks, and everything else you need to know about getting the most out your credit cards.
Budgeting, frugal living, saving, and all kinds of other money and finance related subjects.
Learn how to repair and improve your credit score. Learn about Beacon and Fico scores, and much more!
Don’t like the idea of spending money you don’t have? Get the scoop on bank and prepaid debit cards.
If we continue to believe we are entitled to the best of everything the instant we want it, we will go right back to taking on debt and buying more than we can afford.
With few people paying in cash, and credit cards seeming to be the payment method of choice for many, you might think everyone knows all they need to know about credit cards. But the truth is that while many people use them, not everyone really understands the basics of how credit cards work.
On 16 January, The Sunday Telegraph featured a report on Australians racking up $49 billion in debt on credit cards. Unsurprisingly, the cause of the debt stems from the lure of loyalty programs, special offers and enticing advertisements that indirectly articulate what styles people should adopt.
If you receive an offer to increase your credit limit in your mail by your bank, don’t be too eager to accept it. It is good to know that you have proven yourself to be a “risk-worthy” customer and are awarded with an increased spending power. However, think twice before you accept the enticing offer.
In any disaster there are lessons to be learned, about ourselves as people and about the way we choose to live our lives. Here are some trends from the recession that we shouldn’t leave behind as our fortunes improve.
We all know that putting everything on plastic isn’t a good idea, but there are certain circumstances when you really shouldn’t be relying on your credit. By avoiding using your credit card in these situations, you will be able to avoid some serious credit problems in the future.
It goes without saying that credit cards are a double-edged sword. The convenience a credit card offers can lead to impulsive spending, which in turn results in escalating debts. On the other hand, using credit cards wisely can deliver numerous benefits. The key is to make informed choices on using your credit cards to your advantage, and not be the victim of reckless spending.
It’s a pretty awful situation to imagine. You log into your bank account and see all these charges you didn’t make on your credit card, withdrawals you didn’t request from your checking, and your savings completely depleted.
Identity theft is a big problem. In fact, an estimated 25% of reported frauds in Australia are a result of online identity theft. Fortunately, there are steps you can take to avoid it and ensure that your financial records stay safe.
If you want to get high interest on your savings, without the inflexibility of a fixed term deposit, then an online savings account is the way to go. But which one is the best for you? To help us, let’s compare some high interest online savings accounts and find out which one can best boost your hard saved dollars.
Debt consolidation is a last resort for many people in debt. The option has become an increasingly common way to lower interest payments and finally pay down out-of-control debts. Credit consolidation scams are on the rise as more individuals find themselves in need of services.
Debt consolidation is becoming a common phenomenon as more and more Australians find themselves deep in the hole. Higher cost of living, mortgage payments and even basic things like groceries are being put on plastic as salaries fail to keep up with price increases.
Like most things in life, good financial skills start in the home. This generation grew up in the ultimate “buy now pay later” atmosphere that was not only emulated by their parents but by their leaders as well. The fact is that you may have to teach your kids the proper ways to manage money, because quite frankly no one else is going to do it for them.
Picture this: you have finally graduated from college and it’s time to find a job, a car, and an apartment. You walk into the car dealership with your heart set on some wheels and get automatically turned down because of your credit rating. This is a situation that happens all too often among college grads, and it’s usally for one of two reasons…
When it comes to debit cards, many of us find them incredibly convenient and less of a burden than credit cards. After all, not only do retailers appreciate the lack of added-on credit fees, but it prevents you from racking up loads of debt by limiting you to only what you currently have in the bank.
No matter how you ended up in debt, you likely made a few money mistakes that dug you in deeper.
It goes without saying that credit cards are useful for monetary transactions in this cashless society. Credit cards meet the needs of different people in different ways. It is thus important to choose the right …
The importance of your credit score can never be stressed enough. Banks and other financial institutions use this number to estimate how much of a credit risk you present.
Last March, we did a breakdown of debit cards vs. credit cards to show you the differences between the two plastic doppelgangers. Fast forward two years, and suddenly, the ying is starting to look and …
If you don’t have a smartphone or don’t use finance apps yet, you may decide to reconsider your habits after reading this article.
