What is credit utilization? Credit utilization is the ratio of your credit balances to the total credits available to you. It is usually expressed in percentage. That is why people usually refer to it as credit utilization ratio or credit utilization rate. Some people may even be more specific by calling it credit card utilization
What do you understand by credit card minimum payment? Why do the credit card companies encourage minimum payment? What effects does the credit card minimum payment have on your finance? These are the questions this article is about to address. We shall be answering the question one after the other. What is credit card minimum
Cash Advance on Credit Cards Is it good to get cash advance from your credit card? My answer will be; ‘it depends on the situation surrounding that decision to withdraw cash from your credit card. No matter how you plan your finance, you may find yourself in a situation where you need to make cash
Are You In Search of Credit Cards for Bad Credit? Having a bad credit may not be the end of the road for people who are willing to do something about it. Although the road from having a bad credit turned into good credit may be steep, it is not an impossible adventure. There are people
Pros and Cons of Credit Cards Almost everything that has advantages will have its own disadvantages. In the same vein, the way you will expect to enjoy some advantages when using a credit card, you should also be aware of the disadvantages it carries. In this article, we shall look at both the advantages and
Soft and Hard Inquiries Inquiries made on your credit forms part of the information you should expect to see on your credit report. But if you are the type that doesn’t care to ask about your credit report, you may not know how many inquiries that appears on it. You can’t just assume that there
Travel Credit cards are good for overseas spending. Travel Credit cards are not the same, the fact that they bear the same name notwithstanding. The only common denominator among them is that they are specifically designed to cater for overseas spending. If you are the type that travels a lot and buys things overseas, holding
Have you ever considered what the effects of that late payment can have on your credit? If you are in the habit of making late payment, I will say that credit card is not meant for you. You may be asking ‘what is a big deal in it, after all you later paid up?’ Well,
Factors That Determine Your Credit Limit Your credit limit determines how much money you can spend on your card within a billing cycle. Of course, your credit card company will have to consider many factors before arriving the credit limit you are entitled to. No credit card company will offer you a credit limit you
Ways to prevent Credit Card Fraud Every year, the reported cases on credit card frauds seem to be growing on an alarming rate. While some credit card fraud may involve large amount, some of them may fall below $200. But when you consider the number of people that use credit cards, it should not surprise
