Sections SEARCH Skip to content Skip to site index Subscribe Log In Subscribe Log In Advertisement Travel Supported by Frugal Traveler Credit card points are generally more valuable than points or miles attached to a specific airline or hotel group. The reason? Flexibility. ByLucas Peterson April 11, 2018 There’s no such thing as a free lunch, but investing in a credit card rewards program can land you pretty close to the mark. Credit card points are generally more valuable than points or miles attached to a specific airline or hotel group. The reason? Flexibility. With a trove of credit card points, you can get flights, hotel rooms or even cruises. While Capital One and Bank of America are coming into their own, the three major players in the travel rewards game are American Express, Chase and Citi. Here’s a basic rundown of their current programs. American Express Membership Rewards The basic points unit of currency for American … [Read more...] about How to Navigate the Complicated World of Credit Card Points
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Last Updated Feb 18, 2010 10:35 AM EST The average consumer owns about five credit cards. Since the first charge card was issued in 1958, credit card usage has surged. In the 2008 the average credit card debt for card using households reached over $10,600. But consumer's reliance on credit cards appears to be at a turning point. According to data released by the Federal Reserve, credit usage is slowing. Revolving credit - which is mostly credit card debt - fell by about 20 percent late last year. That was the largest drop on record, according the Fed. Also, through October 2009, the number of new credit card accounts issued was down 46 percent from the same period in 2008, according to Equifax. It appears that more folks are in pay down mode and are making the decision to go without using or even owning any credit cards at all. According to reports across the country, the reasons for this behavior are not a surprise: folks are fed up with high fees, credit card cancellations, and … [Read more...] about Think Twice Before You Ditch Your Credit Card
With all of the recent hype over Suze Orman's new debt card, it's no wonder why many folks think it's better to use a debit card versus a credit card. But for many folks that would be a mistake. The obvious reason many folks do this is to avoid getting into debt on a credit card and the high interest rates and fees that apply when you carry a balance. But if you resolve to never carry a balance, then a credit card is a far superior purchasing tool than any debit card, for the following reasons: Protect from fraud: When you make a purchase with a credit card, there is a firewall between your bank account and the vendor. First, there is a federal law that provides protections unique to credit cards. Then there is this example: When you purchase something on your credit card, a bank issuing the credit card makes the payment to the vendor. You are obligated to pay the bank only after you are in agreement that the charge is legit and that the item or service you bought was delivered as … [Read more...] about 4 reasons to use credit cards versus debit cards
(MoneyWatch) Some 50 million U.S. households have credit card debt, according to CreditCards.com. About two-thirds of Americans own a credit card, and about half of these folks carry a balance. But consumers' reliance on credit cards appears to be at a turning point. Some reports suggest that more people are steadily paying down their debts or are even deciding to forgo credit cards altogether. Despite the existence new consumer protections for credit-card users, distrust of card issuers and their gimmicks also remains high. Then there's the other reason -- after a confidence-shaking recession, many people are wary of taking on debt.For those who are determined to avoid using credit cards, the other payment options include using debit cards, checks, and cash. The number of consumers swiping a debit card to pay for purchases increased over the past two years as a result of the sluggish economy. Almost half of consumers surveyed said they believed debit cards helped control … [Read more...] about Should you ditch your credit cards?
(MoneyWatch) The long-standing banking lament is that the only people who can get credit are the people who don't need it. Students and consumers with some credit scars can certainly relate. Even while people with long and pristine credit histories are getting inundated with credit card offers, credit card companies turn up their noses at those with less illustrious backgrounds. Then, too, the Card Act made it more difficult for students to get credit by demanding that issuers stop granting credit to people without the means to repay. That initially stopped credit card companies from giving plastic to students unless they had jobs, although some issuers now look at "means to repay" far more holistically, giving kids credit as long as they have allowances and even student loans. The credit card options for the young and credit-scarred are far less attractive than they are for those with perfect credit ratings. But there are still some decent deals. Here are your best bets, according to … [Read more...] about Best credit cards for students and bad risk