As the New Year approaches, are you considering a new credit card? If your hope is to save money on interest you might be looking into no interest credit cards like the Virgin Flyer credit card. But is a no interest credit card really a good idea for reaching those goals?

Let’s look at some good reasons to consider a no interest credit card in the New Year and some reasons you might want to choose another option. read more..

When you set New Year’s resolutions, you likely think about things that have gone wrong in the past (or just not as well as you’d hoped). For example, you might feel like you don’t earn enough so you set a goal to increase your income. Or you focus on the mistake of getting into too much credit card debt and you resolve to pay off that debt in the following year.

There’s nothing wrong with using mistakes and less-than-ideal situations as a base for New Year’s resolutions. But look past those and you might also find motivation in past successes. read more..

It’s a new year. The holidays are over. And if you used credit cards to pay for any of those holiday gifts you, like many consumers, might now be suffering from a post-holiday credit card hangover. That’s when the reality of holiday overspending sets in and you go from thinking about deals to focusing on debt.

Even if you haven’t yet received your first credit card statement since finishing your holiday shopping, now is a good time to think about it. The sooner you start tackling that holiday credit card debt, the better. Let’s talk more about why you might be suffering from a credit card hangover and what you can do about it in coming weeks. read more..

A very common New Year’s resolution is to develop a new personal budget. You might want to rethink your budget so you can set aside more money for savings. Or perhaps you want to spend less in some areas so you can spend more in other ways — like investments or luxuries. Maybe a new budget would enable to you get out of credit card debt when you otherwise wouldn’t be able to.

If you’re in that last group, coming up with a new budget is indeed a great starting place to getting out of credit card debt. But to make it work, it’s important to understand where you should start when creating a budget. read more..