Category Archives: Credit Cards Articles

Wednesday Roundup: 5 Ways to Make Traveling More Affordable

July 18, 2011   Daniel Murphy   No comments

Expert Q&A: Elderly Mom is a Shopaholic

July 15, 2011   Daniel Murphy   No comments

Hi Erica, How can I stop my mom from buying more stuff than she needs on credit? She is 81, lives alone on Social Security and is homebound. She shops from TV and orders a lot of junk that she doesnt need or even have room for. I know she must be using all of her money and must have a lot of debt now, but she won’t talk to anyone about it, including me. How do I stop the banks or stores from allowing her to do this? Jena

Dear Jena, It’s pretty hard to prevent a full-grown adult from doing what is well within her rights to do. And at her age, your mother is most certainly in the position to do as she pleases with her money and credit cards. Tha

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  Tags: Elderly Mom, Mom

Study: Credit Card Issuers’ Fraud Protection Programs Vary

July 14, 2011   Daniel Murphy   No comments

How well you are protected from credit card fraud may depend on which credit card you carry in your wallet, according to a recent study by Javelin Strategy and Research.

The June 2011 study found that while most banks have excellent strategies in place for taking care of fraud once it occurs, most programs are less adept at preventing fraud in the first place.

“Prevention is the granddaddy of all fraud protection, but it is also the hardest thing to do,” says Phillip Blank, Managing Director for Security, Risk and Fraud at Javelin. “But the reality is that prevention has the biggest payback. It pr

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  Tags: Credit Card, Fraud

Expert Q&A: Rebuilding Credit, Fearing Debt

July 10, 2011   Daniel Murphy   No comments

Dear Erica, Im working on repairing my credit. It had been ages since I received solicitation letters for credit cards; but over the past few months I began receiving them. I recently applied for a card, and I was actually approved! Now that I have it, Im afraid to use it. I want to, but my fear is that I’ll fall into the trap again of getting into debt. It’s difficult to live on only a debit card. Why are these card companies soliciting my business again? All advice is appreciated. Ned

Dead Ned, I’m so glad you are on your way to a new and improved relationship with plastic! Here are the two basic ways to repair credit wounds:

1. Wait

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  Tags: Credit, Rebuilding Credit

Expert Q&A: Confessions of a Credit Card Novice

July 06, 2011   Daniel Murphy   No comments

Dear Erica, It’s time that I admitted that I do not know much about credit, even though Im 28. So far, I have not gotten into debt. All I have is a checking account and a bank card. The bank told me that if I dont build up a credit history with a credit card that I would have a hard time later when I want to buy a home or do whatever else requires credit. Is this true or just part of a strategy to get me to sign up for a credit card? I actually like having just a bank card because Im kind of scatterbrained. Im busy and having just one account is so easy. It saves me the trouble of worrying about missing payments or keeping up with several different accounts. I

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  Tags: Card, Confessions Credit

Expert Q&A: When Should You Use Credit?

July 03, 2011   Daniel Murphy   No comments

Dear Credit Guide, Can you give me a break down on when and where Im supposed to use a credit card? Emergencies only? What about little things like McDonalds? It sounds crazy, but I really dont know when youre supposed to use it! Barry

Dear Barry,

These are sane, not mad, questions! And I’m going to have you answer them. How? First, by completing a brief exercise. So grab a pen, some paper and a calculator.

1. Write down the amount of money you earn on a monthly basis, after taxes, retirement contributions and everything else is deducted from your paycheck.

2. Make a detailed list of what you regularly spend money on in a month. I

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  Tags: Credit, Use Credit
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