Finance Globe

There is no denying the fact that closing a credit card account can have a negative impact on your credit score. For example, closing an older account can shorten your credit history. It will also mean that you have less credit available, thus leading to a higher credit utilization ratio. Even with all this in mind, there are times when it makes sense to close a credit card account. Here are some of those times: 1....

Will you be traveling this summer? If so, do you have a plan in place for making purchases? Like many, you will turn to your credit card time after time. While there is nothing wrong with this, there are some basic tips you need to follow. 1. Understand your credit card fees. For example, using your credit card outside the United States could lead to a foreign transaction fee of approximately three percent. You need to...

Although you may have avoided the use of a small business credit card in the past, it could be a good idea to change your approach in the future. Once you are okay with the idea of using a credit card, it won’t be long before you are comparing your options and deciding which one suits you best. Here are some of the top reasons to use a small business credit card: 1. Convenience. Are you...

Thanks to the CARD Act of 2009, credit card issuers can only raise your interest rate under specific conditions. As a consumer, this is good news. The not so good news is that your rate could still increase at some point in the future. Here are several times when this could happen to you: 1. Your promotion is coming to an end. Did you sign up for a credit card with a 0 percent interest rate...

As hard as you try, there may come a point when you miss a credit card payment. This isn’t the worst financial mistake you can make, but it could have a negative impact on your credit report.Here are several things you should do if you miss a credit card payment: 1. Act fast. The due date may have come and gone, but that doesn’t mean you should sit around and wait for the next statement cycle...

Throughout life, you’ll experience life changes that can have a major impact on your finances. Job loss, losing a spouse, having a child, major medical bills, and disability are just a few life events that can put a strain on your finances. Unfortunately, your credit score can also be impacted during these times. Here are some tips to protect your credit score even when you’re having financial problems. Scale back your credit card usage. Many people feel...

Applying for a credit card or loan is somewhat of a gamble. Even if you’re sure you meet all the qualifications, your application can still be denied. While it’s disappointing, it’s not the proverbial end of the world. It’s an opportunity improve your credit and your finances so you can be in a better position the next time you apply. Understand why your application was turned down. After you have an application denied, the bank will...

As you find yourself comparing credit card offers, you may soon ask this question: is it really worth the time and effort? Some consumers believe that every offer is the same, meaning that they can apply for any credit card and end up in a good place when everything is said and done. However, this is not true. Even when two credit cards appear to be identical, there are small details that make each one unique....

As a small business owner, you have a lot on your plate. This includes a variety of details in regards to the company’s finances. At some point, you may begin to ponder the idea of applying for a small business credit card. While this is a big step forward, it’s also one that you should strongly consider. And here is why: 1. Easier to keep track of your spending. When you make every purchase with your...

Credit card interest is one of the biggest expenses of having a credit card. Every month that you don’t pay your credit card balance in full, your card issuer will add a finance charge based on your interest rate and credit card balance. The higher your rate and your balance, the higher your finance charge will be.  Unfortunately, high finance charges can make it more difficult to pay off your balance, especially if you typically pay only...