Three Major Drawbacks of Store Credit Cards

While doing your holiday shopping, you’ll notice the signs that read “apply for a store credit card and receive 25% off your entire purchase.” It sounds like a no-brainer, especially on major holiday purchases. But it is important to remember that there are consequences from opening these credit cards and you should take the time to consider whether or not it’s a good decision for … Continue reading Three Major Drawbacks of Store Credit Cards

Four Times When You Shouldn’t Pay with Plastic

We’ve grown accustomed to using our credit cards for almost everything – gas, travel, shopping, etc.  But a recent article by MSN Money tells card holders they should use caution when making certain purchases to avoid credit card trouble. Here are four times when you should steer clear or use caution when using plastic: When you are financing your start-up enterprise – Although some advisors … Continue reading Four Times When You Shouldn’t Pay with Plastic

Financial Advice for Recent Graduates

May and June are the months to celebrate graduations – to some, the beginning of adulthood. Whether you are graduating from high school or college, there are certain money tips recent grads should follow to get started on the right food – and avoid debt and other financial problems. Here are our top five picks: Be smart with credit cards – Always try to pay … Continue reading Financial Advice for Recent Graduates

More Ways to Avoid Becoming a Victim of Credit Card Fraud

Last week we discussed how easy it is for our credit card information to fall into the hands of crafty criminals. There are a few more places and situations to use caution when making purchases with your debit and credit cards to avoid identity theft and credit card fraud.  These include: Flea Markets – These merchants are usually temporary and hard to find if there … Continue reading More Ways to Avoid Becoming a Victim of Credit Card Fraud

Decrease Your Risk of Becoming a Victim of Credit Card Fraud

Your credit card information could easily fall into the hands of a criminal if you don’t use precautionary steps. It is important to repeatedly check your balance statements and use caution when making purchases. Criminals are becoming crafty with the ways that they can steal your information, so take notice and be wary when making transactions in the following situations: Online Checkouts – Any safe … Continue reading Decrease Your Risk of Becoming a Victim of Credit Card Fraud

Financial Fibs that Keep You From Reaching Your New Year’s Resolutions

With the New Year come many resolutions. Most of us have at least one resolution that is financial in nature. In Michelle Singletary’s latest column, “Facing the Truth of Your Financial Situation”, she lists five of her favorite financial fibs that we often tell ourselves that keep us from reaching our financial goals. They are: 1.       I have a budget 2.       I have an emergency fund 3.       … Continue reading Financial Fibs that Keep You From Reaching Your New Year’s Resolutions

Credit Card vs. Debit Card: Week 2 of 2

Many people want to gain better control of their finances by using a debit, but don’t want to have negative effects on their credit scores and finances by doing away with the credit card. Both have perks, which is why you should not do away with one or the other completely. Last week we discussed the importance of a credit card. This week we will … Continue reading Credit Card vs. Debit Card: Week 2 of 2

Credit Card vs. Debit Card: Week 1 of 2

We all know that having a debit card and having a credit card has perks. Over the next two weeks we will discuss the advantages of both. This week we will look at the advantages of credit cards. Some wonder if it is best to get rid of the credit card completely and just use a debit. Well, the answer is no. You need a credit card in order to build credit. Here are some of the other perks of credit cards.

  • Zero liability. Most credit cards offer zero liability. If your card is stolen and there are unauthorized transactions made, you still have access to your funds while the bank fixes the problem. With a debit, you will receive the money back, but it may take a while.
  • Building up a track record. Like we mentioned earlier, building up a credit history is important. Your credit score is a vital part when it comes time to take out a loan for a car or a home. Continue reading “Credit Card vs. Debit Card: Week 1 of 2”