The credit card industry is notably cutthroat. Individual companies will compete aggressively to get your business – and to hold onto it.
Credit card companies benefit if you make maximum charges and minimum payments.
Credit cards can make you feel like a champ or a chump. This depends on whether you use or abuse them.
For individuals who pay in full and on time, credit cards offer big benefits – interest-free money, merchandise discounts, rebates on purchases and more.
For individuals who always pay late, credit cards offer big trouble – huge debt at double-digit rates and dreadful credit scores.
Cash-back, affinity and business cards are great for those who use them smartly.
Cash-advance offers have incredibly high interest rates so avoid them.
As a consumer, you are entitled to a free annual credit report.
Your credit score depends not only on making prompt payments, but also on the ratio of your credit card debt to your available credit.
To save money, always pay your credit card bills before they are due.