There are various reasons to have more than one credit card, but the number of accounts you have will have a big impact on your credit score. Your credit score will determine your ability to secure loans and apartment rentals. Although too many accounts can negatively impact your score, credit scoring formulas aren’t designed to […]
Category: Articles
How Do Credit Cards Work?
When you get a credit card, you don’t just swipe the plastic to make a purchase. Depending on your income, debts and the amount of credit available on your other cards, you may be authorized for a certain credit limit. Once you have your card, payments are processed through payment networks that ensure the money […]
How to Get a Credit Card
If you’re wondering how to get a credit card, you’re not alone. You may be wondering how to get a credit card, or what the requirements are. The following article outlines the steps needed to apply for a credit card, check your credit report to ensure approval, and find out what the requirements are for […]
What Is a Secured Credit Card?
Before applying for a secured credit card, consider your financial situation and what you’ll use the card for. While the interest rate and credit limit will be higher than a traditional card, this credit card is typically used for smaller everyday purchases. To save money, shop around for the best rates. Some lending institutions are […]
How Does a Credit Card Work?
If you have ever wondered how a credit card works, you’re not alone. Millions of Americans have been wondering the same thing. There are so many facets of using a credit card, from interest charges to minimum payments to the grace period. Here’s an explanation of each. To get started, read the details of each […]
What is the APR on a Credit Card?
If you’re wondering, what is the APR on a credit card? This article will explain the different types of APRs, including Purchase APR, Variable APR, Introductory APR, and Cash advance APR. This will help you understand the difference between these types of interest rates and how they can affect your credit score. Here are some […]
How Many Credit Cards Should You Have?
Depending on your financial situation and spending habits, how many credit cards should you have? You should avoid having too many cards if you’re unsure of your ability to pay them off each month. Having several cards can make it easy to get carried away and overspend. The more cards you have, the more responsibility […]
How to Apply For a Credit Card
If you’re looking for a new credit card, you need to know how to apply for one. There are several things you need to know, such as checking your credit score before applying for a new card, getting pre-approved online, obtaining a low interest rate, and requesting a reconsideration if you’re declined. Read this article […]
What Is a Credit Card?
You can borrow money from your bank using a credit card and pay the balance on your statement at the end of each month. However, you are responsible for paying interest on the balance if you do not pay off your balance on time. You can make a big purchase now, and pay it off […]
What is a Good APR For a Credit Card?
When evaluating a card’s APR, understanding the types of rates is key. Some credit cards offer zero percent introductory rates, while others have variable APRs. To help you determine what’s best for you, read the terms and conditions of the card before applying. CCCU credit cards also offer lower APRs than most lenders. It’s important […]