Resource Center - Debt

Choose from the resource categories below to discover and learn more about personal finance across the topics of budgeting, debt, income, insurance, investing, and retirement.

Difference Between a Store Credit Card and a Regular Credit Card

If you shop at any store that offers a credit card, you’re almost guaranteed to be asked – most likely at checkout after you hear your total – if you want to sign up for the credit card. The offer to save 10% on a purchase is tempting, but store credit cards often aren’t worth it compared to regular, or general use, credit cards branded with a major processing network.... Read More >>>

What to Know Before You Apply for Your First Credit Card

Once you’ve finally decided you’re going to apply for your first credit card and you’ve picked out what you think is the best one for you (there are lots to choose from), it’s time to fill out the application. Applying for your first credit card can be exciting, but a little scary, too. Knowing what to expect can ease some of your anxiety.... Read More >>>

What to Do If Your Credit Card is Charged the Wrong Amount

Credit card errors are more common that you’d think and luckily, they’re pretty easy to deal with. If you discover your credit card was charged the wrong amount, don’t panic. Solving it is pretty simple, as long as you don’t delay.... Read More >>>

What it Means to Have No Credit

Having credit is a big deal for adults. If you want to get a credit card or get a loan you need to have at least fair credit – excellent credit is best. But, there’s a segment of the population that doesn’t have credit at all. In 2013, Experian estimated that 64 million people don’t have a credit score because they lack a credit history.... Read More >>>

7 No Annual Fee American Express Credit Cards

American Express is one of the most prestigious credit cards with awesome rewards and perks. While some of Amex's best credit cards come with steep annual fees, there are several attractive Amex cards with good rewards and no annual fee. On top of having no annual fee, each of these cards gives you the flexibility to carry a balance and pay it back over time. Many of Amex's other credit cards are charge cards requiring you to pay in full each month. Amex EveryDay Credit Card... Read More >>>

Credit Card Travel Mistakes

Traveling with a credit card, in many ways, is safer than traveling with cash. With zero fraud liability, your losses are minimized if your credit card is lost or stolen. But even though using a credit card while traveling may be a safer bet, there are still some critical mistakes to watch out for.... Read More >>>

Bank of America Student Credit Card Review

If you’re a student with a Bank of America checking account, you may be interested in one of their three student credit cards. Two have rewards and one doesn’t. No matter which of the three you choose, you won’t have to pay an annual fee.... Read More >>>

Possible Reasons Your Credit Limit Increase Was Denied

A bigger credit limit gives you more purchasing power, helps your credit utilization, can help improve your credit score, and can even help you qualify for credit cards with bigger limits. In the absence of an automatic credit limit increase from your credit card issuer, you may request a credit limit increase. Your credit card issuer will consider your account history, income, and credit history to decide whether to raise your credit limit. Unfortunately, credit limit increase requests are some... Read More >>>

How Often Should I Use My Credit Card?

Keeping your credit cards open and active is important not only to keep your credit card account open, but to ensure that your credit card issuer continues to report your credit card activity to the credit bureaus. Good credit card usage – low balance and timely payment history – will help build a good credit score. But, if your credit card becomes inactive - in other words you stop using it for ever months - your card issuer may stop sending updates to the credit bureaus. If that happens, that... Read More >>>

12 Possible Reasons Your Credit Card Application Was Denied

If you’ve had a credit card application denied, you’re probably wondering why. The credit card company rarely tells you on the spot why your credit card application was denied. Instead, they send a letter, an adverse action letter, within 7-10 business days of your application. The adverse action letter will give you the specific reason your credit card application was denied. While you’re waiting to get your letter, here are some possible reasons your credit card application could be denied.... Read More >>>