The Resurgence of Airline Rewards Credit Cards

20 Feb 2011 | by Mildred Matthews | No Comments »

Airline rewards credit cards used to be the cream of the crop when it came to credit cards. However, they quickly took a back seat to other types of rewards credit cards, such as cash back rewards credit cards. Interestingly enough, though, these airline rewards credit cards are now taking center stage again because of their attractive rewards and perks.

New Perks and Waivers take Center Stage

The airline industry doesn’t exactly top the list in terms of favorite companies in the eyes of consumers, mainly due to the high fees and extraneous surcharges for everything from an extra piece of luggage to a can of soda. Airline rewards credit cards therefore often address these inconvenient charges by offering free waivers and perks. O

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Are Credit Cards For Minors a Bad Idea?

20 Feb 2011 | by Porfirio Hillman | No Comments »

In this day and age, it seems that everyone uses credit cards for everything. For us adults, it makes sense because of the rewards and benefits, but is giving plastic to a minor the best choice? Let’s weigh the benefits and drawbacks.

Safer than cash – If cash is lost or stolen you (or your kid) is out of luck. With credit cards, you will be legally protected against unauthorized charges. By federal law the most you can be held accountable for is $50 but most credit cards don’t even charge that and instead, give you zero liability.

Know where the money is being spent – When it comes to cash, you have to take your kid’s word for how it is spent. One benefit of a minor using a credit card is that their spending can be broken down by transaction – you as the parent or guardian can see which stores and merchants your teen is spending money at. Most credit

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How Long Can Negative Items Remain on Your Credit Report?

17 Feb 2011 | by Billy Miller | No Comments »

How many of you have heard (or believe) that negative items can remain on your credit reports for 7 years?  Would you be surprised to learn that that’s not exactly correct and that the law allows for the reporting of negative items for longer than 7 years?  And, in some cases, the negative item can remain on your credit files for much longer than 7 years.

Here’s the lowdown on how long the bad stuff can hang around…per the Fair Credit Reporting Act and the Higher Education Act. Bankru

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The Best Time to Use your Credit Card

16 Feb 2011 | by Mildred Matthews | No Comments »

Many consumers enjoy the benefits of a credit card every day, while others use theirs more selectively, for large purchases or while traveling. Although the frequency at which you use your credit card is a very personal one, there are a few occasions when it is always a good time to use your credit card:

  • During a financial emergency – If your furnace breaks and the weather is supposed to fall below freezing, what do you do? Because not many people have access to a large sum of cash – especially in a pinch – credit cards are a popular choice for getting us through life’s unexpected financial emergencies. Credit cards may also have lower interest rates and more liberal repayment terms than financing a large purchase through a company, so it pays to bring out your credit card during these times.
  • When making a large purchase – If you have a credit card with a low, fixed interest rate or a credit card with a low, promotional rate, it may make good financial sense to use it to make a large purchase. For examp

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