Don’t pick a card just because it offers a zero annual fee. With the exception of airline, poor credit and charge cards, almost all credit cards offer a zero annual fee these days. Credit card issuers know that a zero annual fee is a big selling point with consumers. Competition among card issuers demands a [...]
How much in interest charges does a credit card balance accumulate over the years? This can be illustrated using the following assumptions: (1) The current balance due on a credit card is $3,000; (2) the card will not be used any longer; and (3) a monthly payment of exactly $100 will be made each month [...]
Unless you pay your balance in full each month, you’re going to face finance charges. There are three different methods credit card companies use to calculate the finance charges. By far, the most common method used by credit card companies to calculate finance charges is the average daily balance (ADB) method. The average daily balance [...]
A lender can acquire your FICO credit score at all three major credit reporting agencies (aka credit bureaus) — Experian, Trans Union and Equifax; however, your credit score will probably vary at each of the three credit bureaus because each has different information about you and doesn’t share their data with each other. For example, [...]
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