Credit Cards and Reports
- 6 Tips for Living without Credit Cards
The number of Americans who use credit cards has fallen to an all-time low, according to a recent Gallup poll, with about one-third going plastic free. And there may be a generational shift occurring, since nearly two-thirds of Millennials don’t have credit cards, based on data from Bankrate and Princeton Survey Research Associates International. So how can you join them in living without the plastic?
- Credit Cards: The Pros and Cons
Credit cards often get a bad reputation, but the truth is they can be a key financial tool if used responsibly. Here are some of the top advantages and disadvantages to consider before you add a shiny new card to your wallet.
- Should I do a balance transfer?
One way to help the money you're paying toward credit card debt go farther in paying down your balance sooner is to make sure you've gotten the interest rate on the debt as low as possible. One way to do that is to transfer your balance to a new card with a lower interest rate. These offers often come with promotional rates where it starts out low but then jumps up after a certain number of months. There are definitely pros and cons to this strategy, but there are also a few things to consider.
- Understanding Your Credit Score (and Why It Matters)
What’s your credit score? If you don’t know, it’s a good idea to find out because this simple number can have an important impact on your financial life.