Tag: card
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Should you apply for credit card debt forgiveness before the holidays?
It may be beneficial for some credit card users to apply for a forgiveness program ahead of the holiday season. Getty Images Holiday spending this year is expected to tick up from what it was in 2023. And it’s not like last year was exactly cheap, with consumers forecasted to spend 7% more than they…
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Will my credit score drop if I pay a credit card debt collector?
Your credit score could be impacted if you pay off a debt in collections — but that won’t always be the case. Getty Images/iStockphoto Receiving a call or letter from a debt collector can be a stressful experience — but for many, it is also a wake-up call, signaling that a debt has gone unpaid…
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5 ways to tackle your credit card debt before the holidays
It’s important to start tackling your holiday debt now, before the issue compounds. Getty Images Credit card debt hit a new record high in the third quarter of 2024. As Americans continued to rack up the charges on their credit cards, combined balances reached $1.17 trillion nationwide. With an average credit card interest rate of…
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What are the best ways to get rid of credit card debt in retirement?
Some simple but effective strategies could help you wipe out credit card debt in retirement. Getty Images/iStockphoto Credit card debt among retirees has reached alarming levels, with 68% of retirees now reporting that they have outstanding credit card balances, according to the Employee Benefit Research Institute’s latest Spending in Retirement Survey. This marks a dramatic…
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Will credit card interest rates increase now that inflation is climbing?
The cost of your credit card debt could increase now that inflation is ticking back up. Jens Kristian Balle/Getty Images With the average credit card interest rate currently hovering above 23%, millions of Americans are finding it harder to keep up with their monthly credit card payments. The typical cardholder has close to $8,000 in…
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When do late credit card payments show up on your credit report?
Late credit card payments aren’t reported to the credit bureaus right away. Getty Images Late credit card payments are one of the most common credit mistakes people make, yet they can have significant long-term consequences on your credit report. A single late payment can lower your credit score and raise red flags for future lenders,…
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How to get rid of credit card debt without ruining your credit
Some strategies can help you keep your credit score healthy while getting rid of your credit card debt. Getty Images Digging yourself out of high-rate credit card debt is an important move for your finances, but in many cases, doing so can feel like you’re standing in quicksand. The harder you try to escape, the…
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Behind on your credit card bills this November? 3 options to consider
If you’re behind on your credit card payments this month, some simple strategies could help. Getty Images The holiday season is approaching, but for many Americans, the excitement is being overshadowed by their issues with mounting credit card debt. Right now, the average person owes nearly $8,000 on their credit cards and that’s happening at…
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When can a credit card company sue you for non-payment?
Your old credit card debt could get a lot more expensive if a lawsuit is filed to recover it. Getty Images Credit cards can be a convenient way to manage expenses, but they also come with a serious responsibility to repay the borrowed funds on time. When a credit card account goes unpaid, it can…
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What should I do when a credit card debt collector contacts me?
There are a few steps you should take if your old credit card debt ends up in the hands of a debt collector. Getty Images/iStockphoto Receiving a call from a debt collector can be a stressful experience. After all, if your debt is in collections, you may be worried about the potential impact the delinquent…