Credit Card Pundit » Finance

Had Your Credit Card Refused?

Chris — Wed, 24 Sep 2008 15:13:51 +0000

One of the most embarrassing aspects of shopping, second only to being wrongly accused of theft, is having your card refused.

It’s bad enough when it is refused because you have no credit limit left (it happens), but when it happens for no reason it is more frustrating. (more…)

Have You Signed Your Credit Card?

Chris — Thu, 11 Sep 2008 10:00:04 +0000

Many people when they received their credit cards in the post either forget or refuse to sign them. Only the other day, my nephew said he wasn’t going to sign his brand new plastic friend because of “security reasons”.

His rationale was if he signed it, whoever stole it would know how to sign it.

I know, work that out if you can.

Thing is, if you don’t sign your card, even if you use chip and pin, stores are quite within their rights to refuse it. (more…)

Think twice before making late payments on your credit card!

Ryan — Tue, 26 Aug 2008 11:57:27 +0000

Budgeting your money is extremely important. You need to know what bills must be paid every month, when your bills are due, and where the money to pay the bills is coming from. Those that prefer to pay bills without the constraints of a budget run the risk of forgetting to pay a bill, paying a bill late, or running out of money before the bill is paid. Perhaps some of you might consider a late paid bill to be the creditor’s problems. But in reality, if you are late paying your bills you will be the one paying the price. Literally.

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Follow the Golden Rule of Credit Cards

Ryan — Mon, 18 Aug 2008 02:39:59 +0000

Learning to use a credit card wisely is the best financial lesson to be learned. A credit card can be your best fried in a financial crunch. Unexpected costs can unravel your monthly budget. Credit cards can help you finance those costs when necessary. But if you use a credit card as you would extra cash, you could find that your best friend has become your worst enemy.

The Golden Rule of credit cards is to pay off your entire balance every month. There are many sound reasons to follow this advice.

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Is Now the Time to Invest?

Chris — Thu, 17 Jul 2008 17:50:50 +0000

You might think I am crazy, but it seems to me right now, or very soon, is a perfect time to invest.

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Dollars Heading Towards Worthless? What Can We Do?

Chris — Wed, 09 Jul 2008 13:37:48 +0000

How long before the US Dollar is worthless?

What can we even do about it?

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The Pay-It-Down Fallacy of Debt Reduction

Chris — Thu, 26 Jun 2008 19:44:38 +0000

Debt has knock-on effects beyond simple and obvious financial setback. It causes stress, loss of self esteem and feelings of inadequacy. In reaction people often think all they need to do is “tighten their belts”, make some sacrifices, and all will be well.

The problem with this thinking is nowhere in this “self control” and “pay it down” concept does the person address the root causes of their debt.
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Overcoming Wealth Limiting Thinking

Chris — Mon, 23 Jun 2008 16:07:43 +0000

Talking to friends and reading forums I see a popular misconception about how success, and in particular money work that I want to share with you to get your feedback on.

This way of thinking in particular I call a “Wealth Limiting Thought“, but there are of course many such beliefs that hold us back.

The reason I picked on this one is because of all of them I think people really do believe the wrong thing, it is not just something we tell ourselves but we even see it as the root idea behind advice. What is this misconception? (more…)

Easy Come Easy Go? How to Hold on to Your Money

Chris — Tue, 17 Jun 2008 15:30:33 +0000

If you are a sports fan, you might recently have heard pundits talking about this scary quote

60 per cent of retired NBA players go broke five years after their NBA paycheques stop arriving.

Yes, those same basketball players who live millionaire lifestyles many of us could only dream of. One day they wake up and realize they have lower net-worth than members of their entourage, or even their pool boy. How does this happen? (more…)

What is APR?

Deborah — Sat, 17 May 2008 00:17:32 +0000

APR or Annual Percentage Rate is the true interest rate you’re paying, on an annual basis, on your credit card contract or financial agreement. This include hidden costs and fees. Knowing the APR should allow you to compare rates among lenders.

The APR includes:

All fees
Insurance
Interest

Once you know the yearly amount of your interest and fees combined, you can do a comprehensive comparison. If you have good credit, you’ll most likely get a credit card with the lowest APR. If you’re applying for a credit card and you’ve never had one before, expect to pay a higher APR. Still, with all the numbers in one tidy APR figure, you’ll have an easier time finding the best rate.