Terms of Use Credit or debit card blocking happens most often when you rent a car or check into a hotel. For example, when you present your credit card, the clerk scans your card and this action may electronically ask the financial institution that issued the card to “block,” or reserve, part of your line of credit to cover the expected costs. If it's a hotel, the amount could be the cost of your room for the length of your stay, plus extra expenses like meals and phone calls y  More...

Terms of Use You may think of debit and credit cards as nearly the same thing, with the exception of having money withdrawn from your account immediately (debit card) or receiving a bill for payment later (credit card). There are some key differences beyond this that you should consider the next time you decide on using a debit or credit card. Although most debit card issuers treat disputes the same as in a credit card transaction, you have no dispute rights under federal law if you're n  More...

Terms of Use: Overdrafts occur when you spend more than you have on balance in your account. This spending can occur from online bill payment, check writing, use of an ATM, or purchases made with a debit card (sometimes called a check card). While it's important to maintain your balance in your account to avoid overdrawing it, once in awhile you may accidentally overdraw your account. Depending on the arrangements you have with your financial institution, you may have overdraft or bounce prote  More...

Terms of Use The credit card you pick can save you money Table of Contents: Credit Card Interest Rates How Much Will You Pay? Credit Card Shopper's Checklist Deciphering the Application Glossary For More Information Smart consumers comparison shop for credit, whether they're looking for a mortgage, an auto loan, or a credit card. Comparison shopping is important because it could save you money. When you're looking for a credit card, be sure to consider the costs and terms. They can  More...

Terms of Use: Friendly looking people proclaiming the benefits. Smiling representatives, extending a hand. The ads for payday loans and check cashing services are appealing and perhaps you've been tempted to check them out. What is a payday loan? Payday loans are usually small, short-term, high-rate loans intended to get you cash before payday. The idea is that once you receive your paycheck, you'll pay off the loan. These loans may also be called cash advance loans, check advance loans or p  More...

Terms of Use: The Fair Debt Collection Practices Act applies to those who collect debts owed to creditors for personal, family and household debts, including car loans, mortgages, charge accounts and money owed for medical bills. A debt collector is someone hired to collect money owed by you. A debt collector may not: Contact you at unreasonable times or places, for example, before 8 a.m. or after 9 p.m., unless you agree, or at work if you tell the debt collector your employer disapproves  More...

Terms of Use: Prepaid debit cards are cards that have been loaded with a dollar amount that you draw down with each purchase. They are not tied to a checking account, so there is no worry about overdrawing your account and the fees that may be assessed for doing so. Prepaid debit cards may be just the thing for those who do not have a checking account or for those who have gotten into debt using a credit card. Unlike credit cards, prepaid debit cards don't charge interest on purchases either,  More...

Terms of Use How to Deal with Debt When You're Out of Work You've found yourself without a job, not knowing how long you may be unemployed. What can you do now to manage your finances in the short-term and long-term? Here's a six-step plan: Step One: Prioritize your debts Step Two: Talk with your creditors Step Three: Pay what you owe (at least the minimum payment amount) on time Step Four: Cut back on your expenses Step Five: If you have to borrow, find the least expensive sources  More...

Terms of Use If you want to repair your credit, begin by paying off old debts and correcting any issues on your credit report. Perhaps you've been tempted by the credit repair advertisements you've seen that promise to fix your credit report. The fact of the matter is that there is nothing you can't do yourself (free!) that a credit repair clinic can legally do (for a fee!) to fix your credit report. To request a free copy of your credit report, check out the related link below  More...

Terms of U se High debt and misuse of credit cards make it tough to save for retirement. Money that goes to pay interest, late fees, and old bills is money that could earn money for retirement and other goals. How much debt is too much debt? Debt isn't necessarily bad, but too much debt is. Add up what you pay monthly in car loans, student loans, credit card and charge card loans, personal loans - everything but your mortgage. Divide that total by the money you bring home each month. The r  More...