Category Archives: Credit Card Debt

Oftentimes, credit card interest rates can make or break a person’s financial situation. The reason why so many people get stuck in an endless cycle of credit card debt is because of the high interest rates on all of their credit card accounts. This may leave you wondering: what is a good APR for a credit card?

Managing your own finances can be confusing. There is so much to keep up with, such as credit reports, credit scores, credit history, debt to income ratios, credit utilization ratios, and more. All of these factors can indicate how financially responsible you are to credit reporting agencies. The credit utilization ratio in particular is one of the most important factors that creates a good credit score. The ratio is basically how much credit you’re currently using divided by how much available credit you have, and it’s a big indicator of financial health.

Divorce proceedings will likely have you questioning many different things. Many couples are under the impression that debt incurred by one person is that person’s responsibility to pay off. Unfortunately, marriage (and divorce) changes this. Debt can complicate an already complicated situation. If you are considering divorce in Alabama, you may be wondering who is responsible for credit card debt?

Managing personal finances and building credit is incredibly overwhelming, especially if you’re doing it for the first time. Debit and credit cards are crucial tools for making purchases and managing money. But what’s the difference between the two payment methods? Which one is good for building credit?

Credit card churning is basically cheating the credit system. Through this strategy, you can potentially get credit card rewards like miles, points, and cash back. In a perfect world, free money has absolutely no downsides. But unfortunately, we live in an imperfect world where things like credit card churning can get you into major financial trouble.

Credit cards are the most common example of revolving debt. As a child or teen, credit cards seem like a source of free money with absolutely no strings attached. This can’t be further from the truth. If you’re constantly living outside your means and charging your card, you’ll very quickly find yourself in a dire financial situation.

If you feel like you’re drowning in credit card debt, you’re certainly not alone. In the last quarter of 2020, Americans shared a grand total of $820 billion in credit card debt. Additionally, the average American has at least $5,000 in credit card debt. These are huge, scary numbers. The good news is that there are plenty of debt relief options out there: credit card refinancing vs. debt consolidation. Refinancing credit card debt involves moving all your debt from one card to a 0% interest rate balance