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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 Are Contactless Payments?
A contactless payment occurs when you pay for something with a credit card, debit card, or mobile device without making physical contact (or making only minor physical contact, like touching) with a terminal. While contactless payments using digital wallet apps like Apple Pay, Google Pay, or Samsung Pay have become popular, we’re going to confine our discussion in this article to contactless payments made with credit cards. The process and technology are similar with both methods.
Who Reports to Credit Bureaus?
A credit report is a bit like an academic report card, only instead of reporting how one is doing in school, it conveys how one’s doing managing their credit. It does this by reporting account information supplied by creditors, similar to the way instructors supply grades that represent how well a student is doing in their courses. But instead of assigning a letter grade or numeric grade point, creditors report account activity to the consumer credit bureaus (the agencies that produce credit reports). Information such as payment history, how long an account has been open, credit limit, account balances, account opening and closure dates, and more.
How do Credit Cards Work?
You insert the EMV chip of your card into the credit card terminal on the counter, wait a few seconds, politely decline a printed receipt from the friendly barista working the register, and walk out the door with your latte in hand. You don’t give what just took place a second thought until you receive your credit card statement showing a $6 charge for that caffeinated morning pick-me-up almost a month later.
5 Reasons to Travel During the Shoulder Season
If you’ve penciled in a beach vacation or winter getaway for this year, there’s probably one main reason you haven’t finalized your travel plans yet: price. Monitoring online travel websites can help you snag low-cost flights and discount hotel stays, but there’s more to consider when planning your trip than just how much it will cost you.
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.