It’s six months after the holiday season and many people are still carrying credit card balances from holiday shopping sprees. Did you overspend buying Christmas gifts for friends and family? Have you been sending just the minimum payments to your credit cards since Christmas? It’s not unusual for holiday shoppers to spend a year or two after each holiday season trying to pay off their holiday debts, but the cost of financing your purchases on credit for this length of time is staggering.
Tag: credit card interest rate
Store credit cards charge high interest, have limited use, and provide fewer benefits than traditional credit cards. Are they ever a good idea?
In the modern world, economic and financial challenges are a worry for all of us. Of these concerns, the most common one is mounting debt and the biggest form of debt tends to be credit cards. To tackle your credit card debt, it’s important o understand what’s contributing to that debt and how to get a break from your credit card company.
For women, it may be the latest pair of beautiful shoes. For guys, it may be a box of favorite cigars. Either way, the “buy now pay later mentality” that most Americans have means pulling out the plastic and worrying about how they are going to pay for the purchases later. When you learn how much that pair of shoes or box of cigars truly costs you if you don’t pay off your credit card bill in full at the end of the month, you may no longer think that purchase was worth it.
New credit card rules are limiting how credit card companies have traditionally earned their bread, forcing them to come up with new ways to charge consumers. Find out what fees and charges you can expect with your credit card and learn what your rights are.