Unexpectedly, you find yourself with an extra $10,000 of disposable income. You also have $10,000 in credit card debt. You’re torn between two options. Should you use that money to pay off your credit card debt, or should you invest the money (or put it into an interest-bearing savings account)?

You may find the idea of investing the money attractive. After all, you’re already meeting all of your required credit card payments so why not just continue to do that while you earn some interest by saving or investing the money? That’s what it really comes down to — interest. read more..

Some credit cards feature an annual fee (sometimes well over $100). Others are no fee credit cards, or they may offer no annual fee for the first year. It seems an obvious choice, doesn’t it? If choosing between two credit cards, the no fee card would be more attractive. But are they really worth it?

Here are few things to consider when deciding whether or not a no fee credit card, like the American Express Gold Ascent credit card, is right for you: read more..

When you apply for a credit card, the last thing you probably want to think about is the chance of having your application denied. But it does happen–even to people who pay their bills on time! However, you can minimise the chances of a credit card rejection by understanding some of the potential problems before you apply for a new card.

Here are several reasons your credit card application may be denied:
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Applying for your first credit card can be exciting, but also a little bit scary (with that first card comes new responsibilities). Many people keep their very first credit card for a long time (making the customer relationship very important), and a first card has the potential to lead to long-term credit trouble. Instead of applying for the first credit card available to you, it’s important to compare them carefully.

Here are some things you may want to look for in your first credit card:
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It’s easy to offer credit card advice–don’t run up debt, pay them off every month, don’t keep too many credit cards, etc. But the fact is that not everyone uses credit cards in the same way, because not everyone spends in the same way. Different people have different reasons for using credit cards, and blanket advice doesn’t always work for everyone.

Fortunately, credit cards can often be tailored to your own personal spending habits by choosing, and using, cards with features that work for you. Let’s look at a few “spending personalities” and what credit card features might work best with their spending habits. read more..