Credit Cards

Are Credit Companies Giving Out Excess Credit?

We recently added another credit card to our household.  We’re heading down to Florida for a family Spring Break.  Since we’re flying Southwest Airlines for the first time, we get a big bonus by opening up a Southwest linked card operated by Chase.  When I opened up the envelope and saw the details, I had a bit of sticker shock.  How?  They had given me a credit limit of $26,000!  It made me wonder if companies are offering too much credit.

Card Limits Have Been Jumping

My wife and I have great credit scores, both well north of 800.  We buy almost everything via credit card, to maximize rewards.  We’re not surprised when we get approved for high limits.  Still, the $26,000 limit was way higher than I’d ever seen.  Still, I started thinking about how the limits have been steadily increasing each time we’ve opened a new card.  These are just in the past couple of years.

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Small Things that Can Ruin Your Credit Score

Your credit score is one of the most important numbers you have.  So, keeping it as high is possible is a goal for many.

Your Credit Score Is Made Of Many Things

You may have excellent credit now or wondering how to improve your score. There are many things you’ve heard of, such as bankruptcies ruining your credit or not paying your mortgage on time. However, there are other small and shocking things that can ruin your credit score.

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7 Steps To Improve Your Credit Score

Few things are worse than finding out that you have a bad credit score.  Many people know that they have this hanging over their head, where others are taken completely by surprise when they go to take a loan or just do a check.

If you have a bad credit score, then don’t wait to start fixing it.  Every step you take can count and help improve your score, and the faster you get started, the faster you can see your score move in the right direction.

Check your credit report for accuracy.

The first thing you should do is check your credit report to make sure that everything is accurate.  A bad score can come about with inaccurate information or if you’ve been the victim of identity theft and there are items that you don’t even know are there.

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Have You Ever Had A Financial Freak Out Moment?

Have you ever had a moment where you just flipped out about something money related? That happened to me last week.  The worst part is that my financial freak out ended up being a total false alarm!

Costco Rewards Time Is Almost Near

Around the beginning part of the year, holders of the Costco American Express card receive a paper certificate, on the last page of which contains your certificate for the rewards you’ve earned by making purchases on the card throughout the year.

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Keeping American Express In Light Of The Costco Switch

One of our favorite credit cards is our Costco American Express card.  We signed up for the card several years ago because it offered a lot of great rewards.  These included:

  • 1% cash back on all purchases.
  • 3% cash back on gas purchases.
  • 2% on restaurant and travel purchases.
  • AmEx is the only credit card accepted for purchase inside a Costco store.

It’s grown into one of our favorite cards, but within a short time, it will soon be history.  Costco has announced that they’ll be partnering with Visa, and while the specifics haven’t been announced, they will only accept Visa cards once the switch takes effect.

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The Credit Card of Tomorrow: Which Trends Will Change the Way You Pay

Though other countries have used EMV technology for nearly a decade, chips in credit cards are brand-new to the United States. To many Americans, it is unbelievable that such a small change mb-2016-01-creditcardcould have such a monumental effect on financial security.   The truth is that EMV chips are leaps-and-bounds better than magnetic strips for fending off fraud. It certainly makes you wonder what other fantastic tech could make paying with credit faster, easier, and better than before.

Though it certainly seems like the future is now, most experts predict the humble credit card to undergo a number of changes in the coming years. Here’s a sneak peek at what tomorrow’s credit card might look like. Let’s just hope they still offer great rewards.

Read moreThe Credit Card of Tomorrow: Which Trends Will Change the Way You Pay