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Credit Cards

Answers to common credit card questions and tips to manage credit card debt.

Featured Articles

  • Credit Cards

    The Minimum Payment Trap

    If you have credit card debt, you probably scan your statement for the minimum payment and think, “Great—that’s all I owe this month.”  It’s true, when you make minimum payments you won’t accrue late fees and you’ll stay in good standing with your lender but there’s more going on under the surface.  Making minimum payments […]

  • 5 Ways to Rebound From a Maxed Out Credit Card

    Maxing out your credit card is frustrating. Not only is it a sign that you’ve been overspending, but it can also damage your credit score. If you’re struggling to pay off your balance, don’t worry – there are ways to rebound from a maxed out credit card. 

    By
    July 26, 2022

  • 5 Mistakes to Avoid When Consolidating Credit Card Debt

    Consolidating your credit card debt can help simplify your monthly payments. Unfortunately, there are a few things that can derail your progress. If you are considering debt consolidation for your credit cards, make sure you avoid these mistakes. 

    By
    October 26, 2020

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  • Credit Cards

    What To Do When You Max Out Your Credit Card

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    Maxing out a credit card can lead to financial distress if not handled correctly. It can also signal budgeting issues or deeper financial wellness concerns like overspending.  This is a growing reality for many, as recent data from Debt.com shows that 32% of Americans have maxed out a credit card due to inflation and rising […]

  • Credit Cards

    Understanding Credit Card Spending Categories

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    When you use a credit card, all your purchases are organized into spending categories. These labels help your bank, budgeting tools and credit card rewards program understand where your money is going, accurately apply fees, help you earn rewards or be protected from fraud.  What are Merchant Category Codes? Every time you make a purchase, […]

  • Credit Cards

    How to Escape the Long-Term Trap of Minimum Payments

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    Ever made a minimum payment on a credit card bill? We’ve all done it, and maybe even made a habit of it. But minimum payments’ convenience can cost you a lot more in money and time, ultimately making it harder to get out of debt. Let’s break down why that is — and what you […]

  • Credit Cards

    How Credit Card Limits Work — and Why They Can Be a Trap

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    Getting approved for a credit card can feel like a win. It’s exciting (and tempting) when you’re given access to a high spending limit! Unfortunately, just because you have access to a high limit doesn’t mean you should treat it like spendable income. In fact, that mentality could be part of what’s keeping you stuck. […]