Credit Card Education Articles

It's important to be well educated before applying for credit or making any other major financial decision. In our education center we well inform you about any aspect of applying for and using credit. We publish new credit card articles weekly so be sure to check back often.

• Understanding Frozen Credit
  Credit freezes are often confused with fraud alerts, but they are really nothing similar. A fraud alert is when new creditors are alerted that you may have been the victim of fraud, and the creditor is required to take additional verification steps that prove they should be accessing your credit and opening an account for you before they can issue the credit. Fraud alerts also remove you from receiving prescreened offers for insurance and credit.
  
• The Credit Card Industry Could Face Tough Changes
  If Congress has its way, credit card companies might be changing the way they do business.
  
• 21 Credit Card Hacks : The Credit Card Holders Survival Guide
  Credit cards can be your best friend or worst enemy; it all depends on how you use them. Getting the most out of your credit card is often counter-intuitive or requires you to be aware of features that aren’t regularly advertised. This list of credit card hacks will provide you with the info you need to make the most of your credit cards.
  
• The History of Credit Cards
  Credit cards might seem like a modern convenience, but they actually had their start many years ago. Enjoy this trip down memory lane!
  
• Why Credit Card Life and Disability Insurance is a Rip-off
  Chances are, when you apply for a credit card you will be asked if you want to enroll in additional life and disability insurance. If you don’t choose to enroll, rest assured the credit card company will call you a few months down the road and try to get you again.
  
• The Pros and Cons of Having a Credit Card
  Are you a credit card owner? If you are not, the thought may have crossed your mind. After all, you have likely received numerous credit card offers in the mail or you may have even been presented with credit card offers online. To determine if having a credit card is the best decision for you, you are advised to examine the pros and cons of having one. A few of the most influential pros and cons are outlined below for your convenience.
  
• How Credit Cards Work
  You find something you absolutely have to have, slap down a piece of plastic and voilà – it’s yours! Life sure is good, isn’t it? But have you ever wondered what happens behind the scenes, from the time your credit card gets swiped (actually or virtually) until the time the purchase shows up on your credit card statement?
  
• Line of Credit or Loan?
  When you need cash, is it better to obtain a line of credit or get a loan? The answer depends mainly upon your self discipline and what you plan on using the money for. If you want to make fixed payments over a specific period of time, then a traditional loan is your best option. If you prefer to have a line of credit that you can use whenever you need to as long as you have money available, then a line of credit is probably the route you want to take.
  
• Teaching Children about Credit Cards
  It’s the 21st century, and most of the kids living in the United States are constantly watching their parents put a cute little plastic card into an automated teller machine and seeing the machine instantly spit out a wad of cash. It’s like magic! A machine that gives money whenever anybody wants it!
  
• What is a Home Equity Line of Credit?
  As with regular types of mortgages on homes, the interest charged to the borrower of a home equity line of credit may be able to deduct a certain amount from their yearly federal taxes. Every situation is different, but it is a possibility. A certified public accountant should be able to tell any potential borrower if home equity lines of credit can be beneficial in terms of taxes.
  
• Understanding Credit Card Terms
  Anyone who does not understand how a credit card works - including purchasing items with it, reading the monthly billing statements, and knowing the rules for payments - should not own a credit card. However, credit card terms and details on how to responsibly own a credit card are easy to learn.
  
• Making Sense Out of Your Credit Card Statement
  Whether you are new to the world of credit cards, or a seasoned veteran, understanding the information in your credit card statement can be confusing. There is a lot of information packed onto a single page, and if you’ve never taken the time to review your statement in detail, it may be a good idea for you to do so.
  
• Purchase Protection
  Most credit card companies provide purchase protection insurance for free, as an included benefit of owning their particular credit card. As competition among credit card companies is so fierce, creditors are attempting many different strategies in order to gain and retain loyal customers.
  
• Credit Card Usage Explained
  How often have you seen someone going through their wallet searching for a credit card in the checkout line- and were shocked by the number of cards they had in their wallet? Credit cards can be used as a form of identification when applying for a major purchase, or when renting a car; and they can be used for convenient purchases that you won’t have to pay for until a month after you buy them.