Category:
Credit Cards

Minimum payment statement with pen and credit card.

Does Paying the Minimum Credit Card Payment Hurt Credit?

By Robert Shaw | February 21, 2025

Making the minimum payment on credit cards might seem like a friendly option in a month when money is short, but don’t mistake it for safely treading water. Yes, making…

Hand of woman calculating multiple credit card bills.

Which Credit Card Should You Pay Off First?

By Michael Knisley | December 18, 2024

You’re at the store. You’ve found the perfect purchase. It’s pricy, but so what? You’ve got plastic to pay for it, plastic that’s been burning a hole in your wallet/purse/pocket.…

HOW TO GET OUT OF DEBT sign on the page.

How To Get out of Debt When You Are Broke

By Tom Jackson | November 25, 2024

Few feelings are more helpless than trying to dig your way out of debt when you’re barely making ends meet — and you’re just one car repair emergency from disaster.…

Confused man sitting on a couch holding a phone and a credit card.

Why Am I Getting Charged Interest on a Zero Balance?

By Bents Dulcio | November 6, 2024

It can be frustrating to see interest charges on your credit card account when you’re certain you’ve paid off your balance in full. After all, a zero balance should mean…

Woman checking a paper representing a personal loan while holding a credit card.

Using Personal Loans for Credit Card Debt

By George Morris | October 29, 2024

When credit card bills become difficult to handle, there are several solutions. One worth considering is using a personal loan to pay off your credit cards. This strategy is a…

3D bank credit card with a block symbol and coins representing closing a credit card with a balance.

Can You Close a Credit Card With a Balance?

By Robert Shaw | August 28, 2024

Credit card offers are as endless as the universe and corny dad jokes. Whether you’re banking, shopping online, or just settling into a seat on an airplane, financial institutions line…

Man holding two credit cards

Can You Pay a Credit Card With a Credit Card?

By Tom Jackson | August 20, 2024

Credit card debt in the U.S. reached a record $1.14 trillion in the second quarter of 2024. Could anyone pay it all off using a giant Visa or Discover card?…

Woman swiping her credit card at the store

What Happens If You Go Over Your Credit Limit?

By Sarah Brady | September 1, 2023

Credit card balances hit record highs in late 2022. If you’re one of the many people whose credit card balance has increased lately, you probably know there are uncomfortable consequences.…

Man on computer searching for his debts

How to Find Out How Much Debt You Have

By Maureen Milliken | February 23, 2023

Most U.S. consumers have a variety of debt, ranging from credit card accounts, auto loans, medical debt, student debt, personal loans, a mortgage and more. As years go by, it…

A stack of credit cards toppling each other over like dominos

Debt Stacking Method

By Maureen Milliken | January 5, 2023

Paying down credit card debt should be simple, right? Pay the bill every month and watch the balance shrink. But for many people, it doesn’t always work that way. Balances…

Sources:

  1. A. (ND) Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act). Retrieved from https://www.ftc.gov/legal-library/browse/statutes/credit-card-accountability-responsibility-disclosure-act-2009-credit-card-act
  2. A. (ND) Credit card minimum payments: What to know. Retrieved from https://www.capitalone.com/learn-grow/money-management/credit-card-minimum-pay-explained/
  3. A. (ND) Things to know about credit card minimum payments. Retrieved from https://www.chase.com/personal/credit-cards/education/basics/credit-card-minimum-payment
  4. Leicht, A. (2024, December 13). How are credit card minimum payments calculated? Retrieved from https://www.cbsnews.com/news/how-are-credit-card-minimum-payments-calculated/
  5. A. (ND) Credit Card Calculator. Retrieved from https://www.calculator.net/credit-card-calculator.html