What is a Credit Card Annual Fee?
A credit card annual fee is a fee that is charged automatically once a year to your credit card account for having the convenience of using a credit card.
Cards with an Annual Fee
Not all credit cards charge an annual fee. Credit cards that is more likely to have annual fees include premium credit cards, reward credit cards and secured credit cards.
An annual fee then increases the cost of having a credit card, so if you are being charged an annual – Read more
What is in Your Credit Report?
When you first read your credit report it can seem confusing especially when you have had many accounts open for a long period of time. It can be easier to read your credit report when you know what is appearing on it.
Your Name and Variations
There could be different versions and even misspellings of your name in your credit report.
Your credit report is created from information that is given from your creditors and lenders. The name that you put – Read more
How Does Credit Reporting Work?
With credit it is important that you check your credit score each month. Your credit report will show not only your score, but also your payment history, debt and other factors that will have a bearing on your score.
The Credit Reporting System
There are three main players in the credit reporting system, those being the consumers, credit bureaus and financial companies.
Your creditors report the information about your credit card and loan accounts – Read more
How to Quickly Improve your Credit Score
If you want to buy a car, get an apartment or just take out a loan then your credit score needs to be in good order. It generally takes 7 years before any negative information is removed from your credit score, but there are a few ways that you are quickly able to raise your credit score.
Pay off Your Credit Card Balance
One of the factors that influence your credit score is how you use your credit. A major factor is your credit utilization – Read more
Consequences of Missing Credit Card Payments
Missing credit card payments has its consequences and the actions that your creditors take can affect you for months. Here is what could happen with late credit card payments.
Charged a Late Fee
You will notice on your next credit card bill that it includes a fee that is for a late payment. Late fees can range depending on if it’s your first time being late in the last 6 months. You will then be charged a late fee month that your payment is – Read more