Low Interest Credit Cards

There was a time when rewards credit cards meant earning points for Caribbean cruises and getting cash back in bulk, but issuers have pulled back on rewards programs and now it takes thoughtful consideration to decide whether rewards cards are really worth it.

What makes a rewards card worthwhile? Depending on what type of rewards you want to earn—airline miles, cash back, spending points, travel packages—the bottom line is you’ll benefit from earning rewards without extra cost to you. Here are golden rules for getting the most out of your rewards card without it busting your wallet or credit score:

1. A smart way to use a rewards card is to pay for daily expenses, such as gas, groceries, and bills. You’l

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In a major victory for retailers, the Senate this week approved an amendment to the financial reform bill, which if signed into law will put curbs on the interchange fees merchants pay to credit card giants Visa and MasterCard for debit card transactions.

Limitations on the so-called swipe fees are intended to give small businesses a break in the rising costs of debit card payment processing. Swipe fees on credit cards, which hover between 2 and 3 percent of the transaction amount; are not affected by the bill. Visa and MasterCard currently charge debit interchange fees of around 1 to 2 percent of the transaction amount, substantially higher than the actual cost of processing debit transactions.

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One week before the CARD Act goes into effect, Citi has added an annual fee to more accounts on many of its popular credit cards.

Many Citi cardholders are receiving letters about a $60 annual fee that is being added to their account effective April 1, 2010. If consumers make $2,400 in purchases during the year, then the annual fee will be credited back to their account.

It appears that Citi’s test of adding an annual fee to a small percentage of their customers in August of 2009 proved successful for the issuer. At that time, Citi began charging some cardholders an annual fee of $30 to $90 unless they spent at least $2,400 per year.

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A credit score has become more important than ever when it comes to things like trying to get an auto loan or better mortgages rates.

And, with credit tightening, lenders are looking for people with higher credit scores as they try to limit the risks involved with letting consumers borrow money. As a result, people may wonder where they can go to get an idea about how their credit history stands.

Recently, CNNMoney.com released a list of the top 20 websites related to personal finance. Included in that list was Credit.com, which was picked by the news organization as a good place for consumers to learn about their credit standing.

Credit.com features a free service called the Credit Report Card, which pulls a record of a consumer’s credit report. Read more…

Q: Is adding an authorized user to a credit card a good idea?

A: Thanks for your question Lynn. Most credit cards (almost all) will allow the account holder to add on authorized users. For those that choose to add a user, they usually add only one. However there are some credit cards that let you add multiple users if you so choose. But whether it’s one or five, is this a smart move? Let’s take a closer look…

Why Add An Authorized User?
Perhaps you are a parent who wants your son or daughter to have a card. Maybe you run a small business and would like one of your employees to have their own credit card for convenience. But m

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