May 19, 2020

If you are charged a fee for making payments with your credit card, you may have wondered whether the practice is legal. The answer to this question is yes. Since January 2013, merchants have been given the right to charge “checkout” fees for credit card transactions. This fee is also known as a surcharge. When are surcharges permitted? Barring 10 states - Colorado, Connecticut, Flori...

May 15, 2020

We all use credit cards, not just to avoid the hassle of carrying about physical cash, but also to take out temporary loans or perhaps to maximize benefits in the form of reward points, travel miles, and cashback. This entire exercise is rendered much easier if we understand and remember the following important dates associated with our credit cards. 1. Payment due date This is the date by which...

May 12, 2020

Have you heard about credit cards with no pre-set spending limits? Usually, when you apply for a credit card, the issuer will tell you the maximum amount of money you can spend using that card – this is known as the card’s spending or credit limit and is mostly dependent on factors such as your income and credit history. However, there is another type of card which has no stated credi...

May 6, 2020

One of the perks of having a credit card is that with every swipe, you can earn rewards in the form of cash back, travel miles or points. One of the ways in which you can redeem these rewards is by opting for a statement credit. What is a statement credit? In case of statement credit, the card issuer redeems your rewards by crediting the relevant amount to your account. In other words, your balan...

April 30, 2020

As consumers, we have come to rely greatly on credit cards as a means for conducting transactions. Instead of carrying physical cash around, we just put this piece of plastic in our wallet and present it to the cashier while paying for our purchases. But what happens if your credit card refuses to swipe? This event in itself can be quite astonishing – not to mention troublesome as it can le...

April 28, 2020

Credit cards are extremely popular because they offer a myriad of benefits – not only do they allow you to spend now and pay at a later date, but credit cards also offer rewards in terms of cashback or points. However, at times there may be a cost attached to these facilities in the form of an annual fee. What does an annual fee waiver depend upon? Most credit cards don’t charge an an...