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Joint accounts

Think you're a joint account holder? Think again

Sharing a card can backfire when it comes to who's really liable for the bill.

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Preferred payment method differs by income, age

Debit or credit card? Income and age affect payment choice, TSYS' 2015 Consumer Payment Choice Survey found.

Debit cards are the preferred payment method for individuals making up to $50,000 a year. Credit races ahead for people with incomes between $75,000 and $100,000 and beyond.

By age group, debit cards are the preferred choice with two exceptions: people 35-44 and 65 or older, the study of 1,000 consumers who owned a debit and credit card found.

Why the differences? People with higher incomes may prefer credit because they have more buying power. And younger consumers preferring debit cards may not have had a chance to build much credit.

"We have found that while younger consumers and those in lower income brackets generally tend to use debit more than credit, in the middle and higher income brackets, usage is driven by a combination of age and income," says Sarah Hartman, senior director of Consumer Payment Solutions for TSYS.

Preferred payment method differs by income, age

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Speaking of Credit:
Q&A with Barry Paperno

How late payments get
reported to credit bureaus

Barry Paperno
Each month, your card issuer relays payment information to credit bureaus. Due date and closing date are two key factors. See Expert Q&A

Ask a question.

Credit card help

10 tips if your data
has been breached

If your credit or debit account information has been hacked, check receipts and statements for unauthorized charges and notify your bank or card issuer.

Credit card glossary terms

A FICO score is a three-digit numeric value that assesses a borrower's credit risk. Your FICO score can range from 300 to 850. The higher the number, the more likely you are to repay a loan.

Credit card quiz

Quiz: Are you ready
for a credit card?

Millennials and teens, this quiz is for you. Minimum payments, APR, liability for fraud on a lost card -- test your knowledge before picking a card that's right for you.

Credit card calculators

How much could I save
by transferring my balances?

Use our balance payment calculator to check introductory interest rate, time period and balance transfer fees to see how much transferring your balances will save you.

'Taking Charge' blog

Karen Queen Empty nest, yes;
fuller wallet, not yet

Karen Queen | 10/8/2015

The savings add up after the kids move out, but so do the temptations to splurge on travel. See more poll

What do you think about the beacons some retailers use to track your movements via cellphone as you shop?


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See related: Retailer beacons track your phone as you shop, raising privacy issues

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Credit card tip of the day

Take steps now to avoid holiday debt. For starters, don't fall into the "biggest sale of the season" trap.

Updated: 10-08-2015