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How Many Credit Cards Are Too Many?
Credit cards can increase your purchasing power, but how many credit cards are too many? There are both pros and cons of having multiple cards.
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What Is a Checking Account?
Fewer and fewer people are writing checks these days. With so many payment alternatives, including cash, electronic transfers, credit cards, debit cards, Apple Pay, Google Pay, and more, check writing has steadily fallen out of fashion. According to a 2019 Federal Reserve study, from 2015 to 2018 check payments declined 7.2 percent per year by the number of checks written and 4.0 percent per year by the total value of checks written.
What Is a Certificate of Deposit?
A certificate of deposit, more commonly referred to as a CD, is an investment product offered by banks and credit unions that typically offers a higher rate of return than a standard savings account. However, to get that return, you agree to make an initial deposit of at least a minimum amount required to open the CD and leave that money untouched for a predetermined time period, the CD’s term. Once that term has been reached, you may withdraw your deposit plus the interest it accrued.
How and Why You Should Use a Credit Card at the Gas Pump
Every time you pull up to a gasoline pump to fill up your vehicle, you have to answer one question: Cash or credit? Well, using a credit card to purchase gasoline can offer multiple advantages over paying with cash, yet many people still insist on paying with cash. We’ll get into those advantages, but first, for those of you still paying with cash because you’ve never tried paying by credit card, let’s cover the basics of how you actually go about paying at the pump with a credit card.
Credit Cards for Sports Fans
There’s a credit card for nearly everyone, and that includes sports fans. Passionate sports fans want to show their support for their favorite sports or teams with just about everything they do, including making purchases with a credit card. But a sports-themed credit card can do more than just announce to the world that you’re a super fan. Along with the many benefits credit cards offer in general, here are a few other pluses a sports-themed credit card may offer.
Are Credit Card Rewards Taxable?
You’ve had a banner year in the credit card rewards department. By implementing a sound rewards-earning strategy, you’ve managed to acquire a cache of cash back rewards, points, and even travel miles. But, as April and the tax-filing deadline approach, you have the thought, Do I have to declare all those credit card rewards I racked up? Does the IRS consider them taxable income?
This material is for informational purposes only and is not intended to replace the advice of a qualified tax advisor, attorney or financial advisor. Readers should consult with their own tax advisor, attorney or financial advisor with regard to their personal situations.