(Ask a Question) Why does overpaying one month not reduce my minimum payment for the next month? When I paid $50 more than the minimum payment, the next month’s payment was almost the same ($4 cheaper). Why does the monthly payment not drop by more since I basically paid a big chunk of it early. (more…)
Credit and Debt Blog
A Service of Debtors Unite, Inc.
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Archive for the ‘Credit Cards’ Category
I have several credit cards–can I just settle my biggest one?
(Ask a Question) I have serval credits with low balances that I can pay, but I have one that is huge that I cannot afford their min payment. Can I just do debt settlement on this one without going through my whole financial life. (more…)
Am I Responsible for Paying my Ex-Wife’s Credit Card Debt?
(Sam from Maine) I just found out that I owe thousands of dollars on credit cards that I shared with my wife. She ran up the balances after our divorce. Am I responsible for paying my ex-wife’s credit card debt? (more…)
I was just late on one credit card, will the universal default clause raise all my rates?
(Mark from California) I was just late on one credit card, will the universal default clause raise all my rates? (more…)
Will a Debit Card Help Me Build Credit?
(Doug from Georgia) My credit score was low becuase I don’t have any credit cards. I use my debit card frequently and would like to avoid the risks of credit cards. Will a debit card help me build credit or do I also need credit cards? (more…)
I heard that rates were going up, but mine went from 14% to 25%. Why did this happen?
(John from South Carolina) My interest rate just went up on my credit card even though I keep making the minimum payment. I heard that rates were going up, but mine went from 14% to 25%. Why did this happen? (more…)
Does it hurt my credit score if I close a credit card account?
(Ryan from Pennsylvania) Does it hurt my credit score if I close a credit card account? (more…)
Bank of America Ceases Debit Card Overdrafts
If you have ever been charged $35 for the privilege of spending 3 bucks that you don’t have, you understand how frustrating overdraft fees can be. This fall, these fees will be illegal if you haven’t opted in. One bank has decided to set the trend by voluntarily ceasing overdraft fees in advance of the new rules. (more…)
How to Eliminate Debt in 1 Year
You notice that your credit card debt has stayed about the same. You rarely make purchases on your cards anymore but the balances seem to be about the same. Then you wonder what you would do with that extra $200-400 each month if your debt was paid off. Here is how you can eliminate your debt in 1 year. (more…)
How to Eliminate Credit Card Debt
With the economy in its current freefall, many of us are laid off from our jobs and forced to use our credit cards to supply us with the basic necessities of life, hoping that we will be recalled to our previous job before the bill becomes due. (more…)
