Category:
Credit

How Are Credit Card Minimum Payments Calculated?

By Pat McManamon | May 6, 2025

The minimum payment on a credit card represents the smallest amount you are expected to pay each month. Each card company determines its own minimum payment and calculates it in…

Can You Go to Jail for Credit Card Debt?

By Bill Fay | April 3, 2025

If you can’t pay your credit card bills, you’re probably losing sleep. But there is at least one thing you don’t have to worry about – you can’t be thrown…

How Do People Get Trapped in Cycles of Credit Card Debt?

By Pat McManamon | April 3, 2025

People who spend more than they earn – and pay bills with credit cards – are candidates for getting trapped in credit card debt. As the debt grows, the tougher…

What Happens to Credit Card Debt When You Die with No Estate?

By Michael Knisley | March 18, 2025

The only way your credit card debt will magically disappear after you die is if you pass away with no assets at all. Or if the assets you leave behind…

Who is Responsible for a Credit Card in Divorce?

By Bill Fay | February 21, 2025

Divorce does more than end a marital contract. It also severs most of the couple’s financial entanglements — most being the keyword. Debt is stubborn; as surely as it dogs…

Can I Still Use My Credit Card After Debt Consolidation?

By Sarah Brady | December 18, 2024

Debt consolidation won’t close your credit cards, in most cases. But even if you can keep your cards open after consolidating, using them is not recommended, since new credit card…

When Are You Charged Interest on a Credit Card?

By Maureen Milliken | October 28, 2024

It is so easy to use credit cards that many people charge without much thought. Then, suddenly, the card is maxed out and even paying minimum monthly payments doesn’t make…

What Is a Balance Transfer Fee?

By Bill Fay | September 6, 2024

Credit card debt has skyrocketed to more than $1.1 trillion. So has looking for ways to avoid paying interest on that mountain of money. For millions of Americans, the search…

Should I Empty My Savings To Pay off My Credit Card?

By Michael Knisley | September 6, 2024

Here’s the dilemma. On one hand, you’d love to be free of the albatross of high-interest credit card debt hanging around your neck, especially when there’s money in a savings…

What Happens if You Don’t Pay a Balance Transfer off in Time?

By George Morris | July 29, 2024

Transferring debt to a 0% balance transfer credit card can seem like a no-brainer. All the interest you were paying temporarily disappears. There are a lot of advantages. But those…