When people pay off debt, many of them rush to close credit card accounts. Indeed, the process can be quite therapeutic. You pay off a credit card, and, to celebrate your freedom from the chains of the debt (and being on the wrong side of compound interest), you cut up the card and cancel the account.>>> [Read More]
Tag Archive: Credit card
Does Your Credit Card Cover Rental Car Damage?
It’s been a few years since I’ve actually used a rental car. But the last time I did use a rental car, I paid the extra $15 a day the company was charging for insurance to cover the car if it was damaged. I’ve never damaged a rental car, but I figure that the one time I don’t get insurance, something unexpected will happen. So I’ve always paid for insurance on a rental car. Until now. Next time I rent a car, I am going to save money on my trip by declining the rental company’s insurance.>>> [Read More]
Credit CARD Act: Keep an Eye on Bank Debit Card Fees
It’s very important that you remain vigilant when it comes to your finances. This is especially important in light of some of the changes that might be coming because of the Credit CARD Act. You might be surprised to know that some of the upcoming changes as a result of the new card rules actually affect debit cards.
Teach Your Child About Responsible Credit Use
Chances are that, in spite of any efforts you might make to the contrary, your child is going to be interested in using credit. Credit can be helpful in terms of preparing for the future, and building good personal finance habits, and building a history that can be used to help your child secure good rates for home and auto loans. However, credit, like so many other money tools, can be financially devastating if abused. It is up to you to teach your child sound financial principles, including the wise use of credit. Here are three steps to teaching your child about responsible credit use:>>> [Read More]
