Expert Q&A

There's a cost to paying less than you owe -- Before you jump at the chance to pay less than what you owe, think about what settling your debt will end up costing you. ... (more)

Debt can slow down retirement goals -- Debt happens. But how you handle it depends on whether you take charge of it or you allow it to take charge of you. ... (more)

When the no-interest, same-as-cash deal clock runs out -- If you aren't diligent about paying off a balance during the a no-interest period, you face the high-interest gauntlet. Here's what you can do. ... (more)

How credit card interest charges accrue on a daily basis -- With daily periodic interest charges adding to your credit card balances, the odds of making a dent in your debt by paying just the minimum is minimal. ... (more)

Health care cards carry same credit risks -- Sure, you can charge that MRI, but be warned: health care credit cards are the same -- or worse -- than regular credit cards. ... (more)

What to do when debt triples your income -- When your debt load is more than triple your income, it's time to seek a solution. Debt counseling, debt settlement and possible bankruptcy can set you free. ... (more)

Will cash gifts, inheritance go to creditors after bankruptcy? -- If you recently filed for bankruptcy and are now looking at an inheritance, it's best to make other arrangements for that cash or it could end up going to your creditors. ... (more)

Mystery debt: A collector's goof becomes your recurring problem -- Prepare for a hassle if a collection mistake has your name on it -- phone calls and certified letters are in your future. ... (more)

Debt collectors must prove the debt is yours -- A reader is being harassed for debt that she doesn't think is hers. Take these steps to take to prevent debt collection abuse. ... (more)

The risks you incur when you co-sign -- Once you co-sign on a credit card, your rights to get out of the deal are limited, but you are still completely liable if the original account holder defaults. ... (more)

Beware of 'fake' grandkids calling for cash -- Be warned! A popular scam is proliferating where a "grandchild" calls a grandparent asking for emergency cash or credit card info. ... (more)

Cure your defaulted student loan in six steps -- If you default on a student loan, the law gives you a second chance if you make regular, 'reasonable and affordable' payments. ... (more)

Options are limited for bad credit customers -- If you've got a bad credit history in this tight credit market, the odds of getting a credit card with a great interest rate are slim. ... (more)

Protect yourself from estranged husband poaching your good credit -- If an estranged spouse uses your identity and 'poaches' your good credit, he may have committed fraud. Protect yourself first then decide whether to put the screws to him ... (more)

The risks you face when co-signing a loan -- When you co-sign on a loan and the original borrower stops paying, your credit report and credit score take a hit, too. ... (more)

Does credit card debt follow you if you move overseas? -- Moving overseas doesn't mean you strand credit card debt acquired in the States -- especially if you ever plan on returning home ... (more)

Patience, persistence are keys to raising your credit score -- An impatient reader may not like the answer, but the the keys to raising your credit score from the depths are consistency, persistence and -- yes -- time. ... (more)

Options for dealing with a minimum payment increase -- As issuers try new ways to bring in cash, cardholders may face boosted minimum payment requirements. If you can pay the new minimum, you should, and stop carrying a balance in the future. ... (more)

What you stand to lose if you don't pay your credit card bill -- A readers wonders just what would happen to her if she just stopped paying her credit card bill. Legal action, garnishment and property liens, our expert warns. ... (more)

Spouse's passing doesn't absolve widower of joint card debts -- Grief over a spouse's death and the need for money to get a new place to live after her passing doesn't absolve a widower of the obligation to pay down joint debts.. ... (more)

Pitfalls of pumping, dumping sign-up bonus cards -- The "pump and dump" strategy of taking advantage of huge bonus sign-up reward points or miles can really mess with your credit if you're not smart ... (more)

Creditors care about original loan documents, not court agreements -- In divorce, lenders will go after all who agreed to pay, no matter what a court decree says about who should pay. ... (more)

Best to apply cash to credit card debt or down payment? -- A reader wants to know whether it is wiser to use a lump sum of cash to pay off credit card debt or dump into savings for a future house down payment. ... (more)

Authorized users don't have to pay for cardholder's missteps -- If you're an authorized user on someone's credit card and the account holder makes a few wrong moves, you don't have to suffer. Our expert shows how you can protect yourself if this happens to you. ... (more)

You have new rights to keep your old rate -- Under the new credit card law, you can cancel your card and pay off your balance at the existing APR if the issuer hits you with a rate increase ... (more)

Credit card issuers don't make hardship programs easy -- It's a Catch-22. Though you've kept up payments until now, you can't pay anymore. But your issuer won't work with you until you start missing payments. What to do? ... (more)

Are your air miles at risk if you fall on hard times? -- A reader wonders what would happen to his miles if he closes his credit card account, settles with the card company or goes bankrupt. ... (more)

Learn your options when dealing with crushing medical debt -- Communicate, and secure your housing and transportation first, says The Credit Guy. ... (more)

10 ways to pay down credit card debt -- A young family with $35,000 in credit card debt wonders whether filing for bankruptcy is the solution. It isn't, says our expert. ... (more)

Just one day late can hurt that credit card rate -- Even if you're tardy in paying your credit card bill by a single day, it can trigger a rate increase. ... (more)

70 years old with $20,000 in credit card debt -- A senior citizen wants to know how she can manage to pay down $20,000 in credit card debt when she's unemployed and on a fixed income ... (more)

Killing off the credit card balance that refuses to die -- Late charges, over-the-limit fees, interest rate hikes and cash advance fees can all prevent you from paying down that previously unrelenting credit card balance. ... (more)

What are your rights when opting out of a rate increase? -- You can't opt out of a rate increase after the stated deadline, but you may be able to freeze the account at the old rate. ... (more)

To avoid debt, give your credit your respect and attention -- Don't fear credit cards, our expert tells a reader. Handle them responsibly by giving them your respect and your attention, and they can be more useful than scary. ... (more)

Active military personnel protected from interest rate hikes -- The Servicemembers Civil Relief Act offers interest rate limit protections for active duty military personnel. All you have to do is ask, and prove that you've been called to serve. ... (more)

Can one spouse's bankruptcy destroy the other's credit? -- If your spouse files for bankruptcy, your credit score may or may not be impacted, depending on where you live and what you owe. ... (more)

Be wise when cashing in rewards points -- To reap the most out of credit card rewards programs, it's important to pay attention to which rewards give you more bang for the buck ... (more)

Considering bankruptcy? Use the 'divide by 60' test to see if you should -- Take your unsecured debt and divide it by 60 to see whether you're a candidate for bankruptcy, says Todd Ossenfort, The Credit Guy. ... (more)

Create a separate credit identity after divorce -- If you are still an authorized user on an ex's credit cards, your credit score is dependent on their payment behavior. Your best bet is to get your own credit. ... (more)

How being an authorized user can hurt your credit score -- If you are an authorized user on someone's credit card account and that account is not in good standing, it will drag down your credit score. ... (more)

Protect your credit score during divorce -- When facing divorce, avoid at all costs racking up mounds of credit card debt as you want to be able to start off your new life without undue financial stress. ... (more)

6 times when it's OK to cut up your cards -- A reader asks Opening Credits a simple question -- "When do credit cards get up?" -- that doesn't have a quick, easy answer. ... (more)

The greatest gift of all: free travel -- When offered someone else's frequent flier miles for travel, there are some rules of the road that you should follow. ... (more)

Your options when credit card minimum payments skyrocket -- Credit card issuers can change conditions on short notice, including the minimum payment. ... (more)

Starting a credit life after a spouse's death -- A widow wants to know what she needs to do to keep her mortgage and lines of credit after her husband's death. ... (more)

Your rights when dealing with canceled flights -- When your flight is canceled, you might be surprised to find that the airlines aren't legally required to do much to accommodate you. ... (more)

John Grund: A look at the future of credit cards -- Credit card expert John Grund analyzes what consumers can expect to pay for credit in the near future and whether the days of easy credit are over. ... (more)

Avoid bankruptcy during messy divorce -- The last thing you need to do as you start your new, independent, financial life is to put yourself through the trauma of going bankrupt. ... (more)

When is it a good time to dump your rewards card for another? -- With so many bonus sign-up rewards cards out there, it becomes difficult to decide when it's time to dump your old card for a new one ... (more)

Personal loan vs. credit card cash advance to pay for wedding -- For one-time events such as a wedding, go with the loan -- the rates are usually much cheaper. ... (more)

When your ex doesn't pay on joint accounts -- If you rely on your ex to pay down on joint accounts after a divorce, expect to be disappointed. ... (more)

When money woes hit home, take stock and make a plan -- Our expert offers a plan for a family with two young children, a $4,800 monthly mortgage payment, $14,000 in credit card debt and suddenly has been hit with a job loss. ... (more)

Allowing friends to use your credit card = mistake -- After the charges, it may be too late to hold someone else responsible for debt run up on your card with your permission. ... (more)

Does it matter who is the primary account holder? -- In times past, creditors may have only reported credit history for the primary account holder -- usually the man. Times have changed. ... (more)

Who owns the rewards on a company card? -- If you are given the option to pay for the AmEx rewards program membership, then most companies should cede ownership of those perks to you ... (more)

When family members ruin your credit -- Authorized users on your credit card have two freedoms: to rack up debt on your account and to bail when it comes to paying it off ... (more)

Take responsibility for card overspending -- We know times are hard, but when you rack up credit card debt, it's no one else's financial burden but your own. ... (more)

Are you responsible for your late parent's debts? -- One nervous reader asks whether a credit card company can come after her to pay for her father's debts after he passes away. ... (more)

Finding rewards cards with local customer support -- When searching for a rewards credit card program, some consider outsourced, foreign customer support a huge detractor. ... (more)

Hit with an APR hike? Keep the card or cancel? -- Until the new credit card laws take effect in 2010, your issuer can still change the terms for any reason. If hit with an APR increase, you have two choices: keep it or cancel it. ... (more)

Protecting your credit score when paying down debt -- It's a Catch-22: you opt to pay down your credit card debt, but then your credit limit gets cut. What's a cardholder to do? ... (more)

Priortize payments wisely to knock down debts -- A reader with about $35,000 in debt to various creditors asks our expert which of her many debts she should pay off first. ... (more)

With credit card bills, don't be late, negotiate -- Reaching out before the bill is due damages your credit score the least, says The Credit Guy. ... (more)

When elderly parents abuse credit cards -- A reader's 80-year-old mother has charged $120,000 on various TV shopping channels. What's a daughter to do? ... (more)

Comparing value of cash back cards vs. rewards -- The value of credit card rewards programs are as different as their participants. Free travel may have more appeal than cash back or vice-versa. ... (more)

When negotiating debt, original creditors and third-party collectors differ -- If negotiating to reduce past due credit card debt, the rules and negotiating strategies differ between original creditor, third party collector. ... (more)

The ugly side of debt collection -- Debt collectors would much rather settle for less than the full amount and get it all at once than receive a small amount each month. ... (more)

A practical guide of what to expect when filing for bankruptcy -- American bankruptcy laws were created for catastrophic events, where debt resolution can give you a fresh start and let you become a productive, contributing citizen again. ... (more)

Thinking of buying an $8,000 motorcycle on a credit card? Weigh all options before your purchase -- A reader wants to use a new credit card to buy his dream motorcycle, but our columnist suggests waiting and weighing all his options before making the purchase. ... (more)

Purchase protection on balance transfers -- If you transfer the balance of a credit card purchase to another card, does the original purchase protection still apply? ... (more)

Your options for negotiating outstanding debt -- If your income has been dramatically reduced, then you may qualify for some assistance from the creditor that might not negatively affect your credit score. ... (more)

Multi-airlines cards versus single-airline cards -- Both multi-arlines rewards cards and single-airline cards have pluses and minuses, and which is right for you depends on what kind of frequent flier you are. ... (more)

What's the best way to pay the IRS? -- When faced with a tax bill, it's important to weigh all payment options carefully or you'll end up paying a lot more than you owe. ... (more)

Good credit history doesn't go away when card canceled -- If your only credit card gets closed, don't worry. That good credit history that you built will live on, even as the card becomes just a memory. ... (more)

Can my Social Security benefits be garnished for credit card debt? -- Be at ease; your Social Security can't be garnished for credit card debt. But you still need to get a budget together. ... (more)

Stop the temptation of credit card convenience checks -- If you never plan to use the blank 'convenience' checks from your credit card company, consider asking your credit card company to stop sending them. ... (more)

Laid off, stuck with company credit card bill -- If you are an authorized user on your company card, then you aren't responsible for payment, but that might not stop collectors from harassing you for it. ... (more)

Why do credit cards have expiration dates? -- When your credit card renews, it's important to re-evaluate and renew any automatic payments. ... (more)

Do you lose your miles when canceling a card? -- When canceling a frequent flier credit card, make sure you know how your miles are cached or you just might lose them. ... (more)

Now's the time to let lenders know you're struggling -- Lenders are aware of the issues facing more and more consumers, and have put in place many measures to help -- but they can't help if they don't know you are struggling. ... (more)

Who's liable for charges on dead dad's credit card? -- An authorized user wonders who's liable for charges on her deceased father's credit card ... (more)

Determining value of rewards redemption -- While typically not the best value for your rewards points, redeeming for merchandise can be handy when real "money" is more important in your pocket than any amount of miles or point ... (more)

Encourage, teens, other children to learn good savings habits -- An early interest in saving money is to be commended! It gives children a head start on a lifetime of good financial habits. ... (more)

Ex-wife maxes out joint cards: Who pays? -- Divorce is at best unpleasant and at worse very painful. Plus, the lingering separation of finances can add to the pain for years. ... (more)

Teaching adult children financial responsibility -- Co-signing, when done successfully, is like a set of financial training wheels. It should be used only as a temporary measure until the young person is a little less wobbly. ... (more)

Canceled flight? Want your miles back? Good luck! -- A poor flight experience doesn't mean you can dispute the charges on your credit card and get your miles reimbursed. ... (more)

Retired, widowed, overcome by credit card debt -- Seniors with credit card debt who live just off Social Security may have to make some tough financial decisions in order to live within their income. ... (more)

Joint accounts: Till debt do you part -- Having a joint credit card with your spouse doesn't cause your credit histories to mix. But missing a payment will affect both credit scores ... (more)

Using frequent flier miles for tax-deductible business trip? Figure fair market value -- Using frequent flier miles for a tax-deductible business trip? Careful: There are two ways to determine their value. ... (more)

Hit with a credit card interest rate increase? Do you cancel card over APR hike? -- When hit with a rate increase on your credit card, it's important to weigh several factors when deciding to keep the card or cancel it. ... (more)

Don't be caught off guard by limited purchase protection -- Many assume when we make credit card purchases, the credit card companies will side with us in a dispute. That's not necessarily so. ... (more)

How to handle credit card bills when pink slips loom -- For those who are struggling to make credit card payments now or will if they lose their jobs, rising interest rates could present a real problem -- but there is help. ... (more)

10 grandchildren + $100,000 in card debt = bankruptcy? -- Even though bankruptcy may seem like the answer to clean the debt slate, if you don't change your situation, it won't help at all. ... (more)

Tricks and tips to keep frequent flier miles from expiring -- You don't have to book a ticket to keep your frequent flier miles from expiring -- you just have to shop. ... (more)

New citizen tips for building good credit -- Part of the process in becoming an established U.S. citizen is to start building a solid credit history. ... (more)

What happens to prepaid cards when a business is sold? -- Most business owners follow both logic and good business sense and honor prepaid cards. Sometimes, however, you run into someone who doesn't. ... (more)

Tracking rewards program changes before they happen -- Credit card rewards programs change all the time, but if you keep on top of things and are flexible, you can cash in those miles or rewards before you lose them. ... (more)

Options when facing a credit card interest rate increase -- Credit card issuers can jack up your interest rate at any time, for any reason, and increases are tougher to duck than before. ... (more)

Tiny payments don't keep creditors away -- Contrary to urban legend, making a small payment won't keep the creditors away; you have to pay at least the minimum payment. ... (more)

Good credit cardholders lumped in with bad -- Banks are pulling back more than ever before to limit the amount of risk they have, so even perfect payment clients are compromised ... (more)

How to find the best airline rewards bonus miles deal -- In the market for a new rewards card? Make sure you scour Google to make sure you get the best bonus miles deal out there. ... (more)

When credit card debt ruins retirement -- When credit card debt dulls the glow of your golden years, you have options: reverse mortgages, bankruptcy or credit counseling. ... (more)

Mad at your credit card issuer? You still have to pay -- Mad at your credit card issuer? While you may resent having to pay that bill, choosing not to pay it will hurt you even more. ... (more)

Debunking myths about frequent flier programs -- Even with flights being cut back, now is the time to redeem your frequent flier miles. Competition for once-rare seats has lessened and airlines have made it easier to comparison shop. ... (more)

Exercise caution when selling jewelry to pay down debt -- Selling off jewelry to pay down credit card debt can be a good idea -- as long as you don't get ripped off ... (more)

How the IRS treats frequent flier credit card rewards -- are they taxable income? -- When cashing in frequent flier miles, it's important to know whether the IRS considers them gifts or taxable income. ... (more)

Minor's credit card contract raises legal, ethical questions -- A credit card contract with 17-year-old is likely not enforceable -- with some exceptions. However, continuing to run up debt on that card raises some tricky moral and ethical questions. ... (more)

Not all issuers allow you to opt out of rate increases -- When hit with a sudden increase to your APR, most card companies allow you to opt out, keep the old rate and pay off the balance, but not all are so kind. ... (more)

Steps to take to pay off old debt -- Your credit report may not reveal all past debts, but contacting creditors may restart the clock on the statute of limitations. ... (more)

Lessons in paying off delinquent debt -- Settling an old debt won't necessarily improve your credit score, but it can free you of the collection process and to know that you made good on your obligation ... (more)

How to avoid debt collectors' fees -- Debt collectors often try to tack on a separate fee to your debt, which is governed by law and has to be reasonable. ... (more)

5 tips for protecting your credit during marriage breakup -- Marriage breakups are messy, messy things. However, taking these five steps can help you protect your credit during this trying time. ... (more)

Income down, bills up. Time for credit counseling? -- When faced with spiraling debt, seeking advice from an accredited debt counselor will help you consider your options. ... (more)

When medical problems hit, bankruptcy can make sense -- Bankruptcy laws were created for catastrophic situations, not for carelessness. However, filing should be done only when other options have been considered. ... (more)

Don't take the bait when you receive a 'phishing' e-mail -- Legitimate companies don't ask for your private, personal information via e-mail. Don't let a logo lure you into a 'phishing' scam or in can cost you. ... (more)

When loaning money, weigh your own financial situation first -- When helping someone out financially, a good rule of thumb to consider is if the assistance would immediately or in the future cause havoc with your own personal finances. ... (more)

Canceled debts will lead to IRS tax -- When collectors discharge old debts, they will report that to the IRS as income to you, leaving you with what could be a hefty tax bill. ... (more)

Too much fast food can be hazardous to your credit -- No, where you eat doesn't have an impact on your credit score, but that's not the full story. While paying plastic for that Big Mac won't hurt your credit score, it might just make issuers think that you're a credit risk. ... (more)

Suspect identity theft? How to check for, fix ID theft or fraud -- You can opt out of unwanted mail solicitations, but a sudden flurry could be a hint that new credit has been opened in your name. ... (more)

How to keep debt collectors at bay -- No matter what your circumstances, you have the legal right to ask collectors to stop harassment ... (more)

When hit by ID theft, take these 4 steps to make things right -- It's awful to have to start your credit life by cleaning up a mess that you didn't make. The good news, though, is that you definitely can clean it up. ... (more)

Here's how to help young adults with bad credit -- Many young adults find themselves in credit card debt with no means or knowledge on how to get themselves out. Here's some advice. ... (more)

Financial steps to take when you're sinking in debt -- When you're behind on your mortgage and credit card bills, figuring out how to stay afloat may seem impossible, but there are drastic measure you can take to keep from sinking. ... (more)

Take these 3 steps when bank account seized by collectors -- You can't stop or reverse the seizure of your bank account to repay outstanding debts, but you can take steps to protect your other assets and rebuild your credit. We'll lay out what you should do. ... (more)

How to keep a small business credit card limit from being cut -- Those who rely on small business cards with high limits to keep their shops running need to be proactive. ... (more)

Are three cards too many? Not if you use them wisely -- There's no one answer to how many cards are too many. Lots of variables come into play, including how you use the cards and how you make your payments. ... (more)

Best credit card stories of 2008 -- The year 2008 saw unprecedented change in the credit card industry, turning card debt from convenient friend into everyone's enemy. These are the top 10 stories that helped chronicle it. ... (more)

Strategies for escaping a too-expensive auto lease -- If you signed an lease that turns out to be unaffordable, you have a few options, but most aren't pretty. ... (more)

Leaving debt behind in another country -- Although credit scores don't cross borders, don't bank on being able to just move away from your money troubles. ... (more)

Ignoring old debt can come back to haunt -- Lenders view delinquent, but paid off debt better than delinquent unpaid debt. ... (more)

The wisdom of bailing family members out of debt -- if that fresh start comes too easily, in a few years they can be back in line looking for another fresh start, and another. ... (more)

Disabled daughter needs advocate in dealing with debt -- A worried mom asks how she can help her disabled daughter who is unable to make minimum credit card payments. ... (more)

Creating a plan to pay off $60,000 in credit card debt -- A reasonable amount of time to pay off unsecured debt is five years or less, so in order to pay off $60,000, expect to pay about $1,300 a month ... (more)

Just say no to store credit cards -- There are too many reasons why you shouldn't want a credit card for every store in the mall, so pass up those one-time discounts. ... (more)

Give the gift of credit card know-how this holiday -- Thinking of giving your kids credit cards this holiday? The best gift you can give them is an education in credit, and CreditCards.com is a terrific place to start. ... (more)

The rules behind getting a free credit report -- FACTA provides that the three major credit reporting bureaus must provide a free copy of your credit report every 12-month period. ... (more)

Elderly mother can't pay $14,400 in credit card debt -- An 83-year-old woman can't meet her minimum credit card payments on $14,400 in credit card debt. ... (more)

Negotiate debt payment plans before disaster strikes -- When financial disaster is looming in your household, be proactive. Contact your creditors and explain your situation before times get darkest, and issuers might be willing to work with you. ... (more)

How debt settlement works, how it affects credit scores, how to choose a firm -- Debt settlement lets you escape part of your debt, but at a price to your credit score. ... (more)

When collectors come after you for ex's unpaid debt -- It's an all-too-common problem: Your ex defaults on credit card debt on a joint account, so collectors are coming after you. What are your options? ... (more)

If dear old dad steals your identity, turn him in -- When a parent commits identity fraud against a child, emotions can run high. But given the choice between protecting your parent or your good name, choose the latter. ... (more)

Help! My APR's been hiked to 27.99 percent -- Credit's tight and your card issuers are reacting by boosting interest rates. Your choices are either to pay off the balance or transfer to another card. ... (more)

Paying less than minimum won't ward off garnishment -- Paying less than the minimum amount won't ward off garnishment. It's best to contact creditors directly to work out a payment plan. ... (more)

Higher limit or second card will impact your credit score -- If you think your credit limit's too low, you may consider either asking your current issuer for a higher limit or getting a second card. Either way, don't forget to consider the impact the move will have on your credit. ... (more)

Building a credit history without credit cards -- Living without credit cards can lead to a "thin" credit file where lenders don't have enough evidence that you are a good credit risk. ... (more)

Behind on car lease payments: What to do? -- When facing repossession of your car for falling behind on lease payments, it's best to try to ask for more time rather than steal the car. ... (more)

7 tips for handling your first credit card -- When college students and credit cards mix, the results can be troubling. Here are seven helpful hints to keep yourself or your kids from falling quickly into the debt trap. ... (more)

Disabled vet seeks relief from credit card debt -- A disabled veteran living on a fixed government income is overcome by credit card debt and seeks a way out. ... (more)

Take control of debt, avoid bankruptcy -- Bankruptcy is not the easy solution to debt reduction -- it's expensive, takes time and paperwork and destroys your credit rating for almost a decade. ... (more)

Opening Credits: Better credit can improve your job prospects -- Going for a first job? Great. Buff your credit report as well as your resume, because employers these days look at both. ... (more)

Steps to avoid wage garnishment -- Leaving the country to escape credit card debt doesn't guarantee that it will be gone if and when you come back. ... (more)

Don't use 401(k) to pay back taxes -- Consider the tax and penalty implications when thinking about tapping 401(k) funds to pay back taxes. ... (more)

When family members use 'secret' credit cards -- Just who is responsible for the debt racked up by a spouse's secret credit card cache? 'Maturing Loans' columnist Klayman says it depends on several factors. ... (more)

Using retirement to pay off high debt isn't the answer -- Using retirement funds to pay down high credit card debt isn't the best solution. Creating a budget and living within your means is. ... (more)

Learn the three Cs of credit: Credit score, capacity to pay, collateral -- When deciding whether to finance an item over time, consider the three Cs of credit to see if it will hurt your credit score. ... (more)

Sold the house, have some cash, now what? -- Seniors who are downsizing need to pay off debt, create fixed-income investment income and have an emergency fund to cover financial surprises. ... (more)

Wage garnishment rules of engagement -- A closer look at how wage garnishment works when you lose your job, get a severance package and get unemployment. ... (more)

Pay down debt or invest? Which is more important? -- With the financial markets so uncertain, is it wiser to pay down debt or keep investing for the future? ... (more)

Credit recovery advice: Start slow, do it right this time -- When pulling out of bankruptcy, it's important to understand how you got there in the first place in order to avoid getting there again. ... (more)

When debt collectors don't play by the rules -- When debt collectors don't reveal how much you owe, you have rights under the Fair Debt Collection Practices Act to find out how much you owe, how much you paid and what your interest rate is. ... (more)

Know the rules before you tap your 401(k) -- Transferring funds from a taxable retirement account into a "safer" investment vehicle can cost you if not done the right way. ... (more)

Taking on new debt in an economic downturn -- During economic instability, it is wise to reconsider the need to take on additional credit lines. ... (more)

In times of financial uncertainty, follow timeless advice -- In this economy, it's important to keep a clear head and not heed the financial advice of all the doomsayers. ... (more)

How balance transfers impact your credit score -- The ratio between how much credit you have available and how much credit is used is calculated as part of the amounts-owed category when calculating your credit score. ... (more)

Why getting a small business card is smart -- When starting up a small business, it's important to keep business and personal expenses separate for tax purposes. ... (more)

Hard times require new investing, credit card habits -- In these uncharted economic waters, it is important to keep the level of credit card debt down and refrain from making large, unnecessary purchases on credit. ... (more)

The pros and cons of charging a luxury car on your credit card -- While charging a luxury car on your credit card may yield a lower interest rate, the risks are higher than a traditional fixed rate loan. ... (more)

Ignoring outstanding debt won't make it go away -- Unpaid credit card debt won't magically erase itself from your credit report after a certain time -- it will impact your life for decades. ... (more)

Make your pension generate income beyond your death -- When you die, your pension dies with you or you can purchase life insurance with a portion of your pension, leaving behind an income for your spouse and inheritance for your heirs. ... (more)

Laid off, but stuck with corporate card bill -- A recently laid-off employee, who turned in his corporate credit card, is receiving bills for charges on his old card and wonders who is liable for the debt. ... (more)

How credit card balance transfers affect your credit score -- When a consumer is faced with a high-rate card, switching to a lower-rate card is smart, if you do it right. ... (more)

Life insurance is for the living, not for credit card debt -- An adult child wants to use her elderly parents' life insurance proceeds to pay off her credit card debt -- before they die. ... (more)

Can you really afford that car loan? -- Buying a car with a high interest rate loan can get burdensome down the road -- especially if hard times hit and you're stuck with a loan worth more than the car. ... (more)

Can credit repair companies ruin your credit score? -- With $23,000 in credit card debt, can a credit repair company erase or reduce that debt legally without hurting your credit score? ... (more)

Establish retirement priorities when paying off debt -- Using retirement funds to pay off high-interest credit card debt? Not such a good idea, says 'Maturing Loans' columnist Alan Klayman. ... (more)

Patience is key to credit score repair -- It takes time and patience for your credit score to rise after you pay off neglected credit card debt, says CreditCards.com columnist Todd Ossenfort. ... (more)

It's fraud when an ex opens credit cards in your name -- It's theft when an ex uses your Social Security number to open credit cards in your name, and should be reported to the police and credit bureaus. ... (more)

Inheritance strategy: Pay off credit cards, evaluate the mortgage -- When you inherit money, it's important to pay off debts, starting with those carrying the highest interest rate. ... (more)

Opting out of a credit card rate increase? Keep records! -- When opting out of a credit card interest rate increase, it is critical to keep copies of your letter and mail receipt in case the issuer decides to up the rate again. ... (more)

Unpaid car lease fees can ruin your credit -- When the lease is over, but over-mileage fees remain, don't leave them unpaid or your credit will take a big hit. ... (more)

When a spouse dies, how do you pay off their debt? -- When a spouse dies, how debt becomes your responsibility ... (more)

Cancel that credit card, take the credit score hit -- Yes, canceling a credit card can hurt a credit score, but it's worth it if you're struggling, says The Credit Guy. ... (more)

Before you refinance, clean up your credit score -- When refinancing your home, it's best to check your credit score for errors or delinquencies so that any dings can be repaired before you apply for the loan. ... (more)

When a medical crisis empties retirement funds -- What steps to take to restore retirement funds after a medical crisis. ... (more)

Add positive information to your credit report to balance the negative -- To help boost your credit score after paying off delinquent accounts, you need to add some positive information to your credit report that will help balance the negative. ... (more)

Will cashing in retirement funds help my credit score? -- To Her Credit columnist Sally Herigstad advises a reader not to cash in all of her retirement in order to pay down credit card debt in an attempt to raise her credit score. ... (more)

Buying investments with credit cards? It's unavailable, and unwise -- Laws and regulations exist that determine and limit how much you can use borrowed funds (including credit cards) to purchase investments. ... (more)

Do airline rewards programs trump cash rewards programs? -- With credit card rewards programs so prevalent, The Credit Guy Todd Ossenfort weighs the benefits of frequent flier programs versus cash back rewards programs. ... (more)

Steps to take when collectors violate your rights -- As a credit card account authorized user, you have no financial responsibility for this account, and the bank knows it. That doesn’t stop unscrupulous companies from trying to collect, however. ... (more)

What to do when a family member forges credit card applications in your name -- When a family member forges your name on credit card applications, you have two choices: Pay the bill or prosecute, says Maturing Loans columnist Alan Klayman. ... (more)

Steps to take to repair your credit -- When repairing your credit score, it's best to just start making payments on bad debt rather than trying to negotiate the balance down, says Todd Ossenfort, 'The Credit Guy.' ... (more)

How one spouse's good credit score can boost a poor credit score -- There are ways your good credit score can boost your spouse's poor credit score, but make sure you both set up solid financial goals first and don't stray from the plan, says To Her Credit columnist Sally Herigstad. ... (more)

Low interest rate and rewards credit cards can put cash back in your pocket -- With food and gas prices escalating, Americans need to budget more carefully than ever before, including resisting the short-term solution of charging up debt on credit cards. ... (more)

When is a debt too old for collection? -- Saddled with an 8-year-old credit card debt, a senior citizen living on just Social Security wants to know what her rights are. ... (more)

After creating a debt management plan, stick to it -- CreditCards.com columnist Todd Ossenfort strongly recommends that once you're in credit counseling, stick to the goals set up in a debt management plan and avoid temptation to get into more debt. ... (more)

Is selling your house to pay down debt a good idea? -- A reader who has $75,000 in credit card debt wants to know if selling her house to pay off debt is a good idea. ... (more)

Who's responsible for a deceased spouse's card debt? -- When a spouse dies, credit card debt may or may not be passed along to a widow. ... (more)

Canceling a credit card vs. keeping a bad one: Compare costs -- Weighing the true cost of canceling a credit card with an annual fee: How much will it hurt your credit score? ... (more)

To detect fraud, credit card issuers monitor all your purchases -- Credit card company fraud departments monitor their cardholders purchases to detect unusual patterns or purchases. ... (more)

Five-year-old credit card debt has debt collectors calling -- With a job loss and 5-year-old credit card debt and only Social Security income, a reader needs a lot of help -- starting with knowing her rights, says Maturing Loans columnist Alan Klayman. ... (more)

Saving for emergencies, retirement come before paying off credit card debt -- Creating an emergency fund and contributing to your retirement fund should always come before paying off credit card debt. ... (more)

Charging up a storm before filing bankruptcy is considered fraud -- Thinking of loading up your credit cards before you file bankruptcy is considered fraud. ... (more)

Relatives must be careful when asked to co-sign on a credit card. -- Relatives must be careful when asked to co-sign on a credit card. ... (more)

Managing on-time credit card payments -- When transferring balances to 0 percent cards, it's critical to make on-time payments or you'll lose out. ... (more)

Debit vs. credit: Which offers more protection? -- Debit card issuers are increasing consumer protections similar to credit cards. ... (more)

When your parents' debt problems need attention -- Seniors can easily become overwhelmed with credit card debt. Here's some advice how to help them. ... (more)

Good credit customers: Shop around for the best interest rates -- If you have good credit, it pays to shop around for lower interest rates. ... (more)

Setting up investments to create guaranteed income in retirement -- Maturing Loans columnist Alan Klayman weighs the benefits of creating an income strategy in retirement against the standard investment strategy. ... (more)

Helping your college-age child establish credit -- Students with their first credit card can be dangerous, so parents of should help their college-age children create a spending plan, says The Credit Guy. ... (more)

One-stock investments are risky ventures in retirement -- Maturing Loans columnist Alan Klayman advises against the one-stock retirement bet and says the best way to generate income is through a well-planned income strategy. ... (more)

Are you a credit card rookie? Here's how credit cards work -- There are all kinds of credit cards with all kinds of different rules. Make sure you pick the right card for you. ... (more)

How canceling a credit card will impact your credit score -- Elements to consider when canceling a long-standing credit card and how that cancellation will impact your credit score. ... (more)

In retirement, the thinking about retirement and income changes -- In retirement, the thinking about retirement and income changes ... (more)

Authorized user or joint account holder? -- There are major differences between an authorized user and joint account holder for credit card accounts. One is liable for unpaid balances and the other is not. ... (more)

When balance transfers make sense -- There's no sense in delaying balance transfers to lower interest rate credit cards if your credit is good. ... (more)

8 tips for squeezing the last dollar out of a budget -- It's tough to make ends meet on a fixed income. To do it, you have to squeeze the spending hard as you can, says 'Maturing Loans' columnist Alan Klayman. ... (more)

Questions to ask to check out your credit counselor's credentials -- Before you hire a credit counselor, make sure you check out their credentials. ... (more)

Two years behind on credit card payments -- How do you even begin to pay back credit card debt that is two years old? ... (more)

Entering retirement with credit card debt -- Carrying credit card debt into retirement requires a plan. ... (more)

Card issuers apply payments to lower interest rate balances first -- Balance transfers, cash advances and purchases typically have different APRs. Card issuers apply payments to lower interest rate balances first. ... (more)

Self control and credit cards -- Don't shun credit because you've had trouble with overspending in the past. A strategy of taking on credit in small doses is better for you, says Sally Herigstad. ... (more)

Compare and analyze investment choices after retirement funds are maxed out -- With extra cash on hand, is it best to invest in paying down the mortgage or investing in mutual funds? Maturing Loans columnist Alan Klayman knows. ... (more)

Credit inquiries and your credit score -- The Credit Guy explains how credit inquiries negatively impact your credit score and how long these inquiries remain on your credit report, as well as advises readers to not needlessly shop for credit. ... (more)

How to ask for a lower credit card interest rate -- A reader asks To Her Credit columnist Sally Herigstad just how to go about asking for a reduction in her credit card APR. ... (more)

Retired, with too little income and too much in property taxes -- Living just off her Social Security income, a 72-year-old woman asks columnist Alan Klayman how to go about paying her property taxes on such a small fixed income. ... (more)

Is your credit card ripe for fraud? -- When credit card account information is stolen, the thief uses your card information to request a change in the billing address and an additional card. The thief can then use your account for as long as it takes you to realize that your card has been compromised. ... (more)

To co-sign or not to co-sign -- A mother wants to help her daughter buy a house, but due to the daughter's bad credit, will have to co-sign the loan. 'To Her Credit' columnist Sally Herigstad weighs the benefits and the risks of co-signing on someone else's loan. ... (more)

How to maintain retirement lifestyle while managing debt -- Debt complicates the calculation on how much you'll need to retire in comfort, says 'Maturing Loans' columnist Alan Klayman. ... (more)

Understanding how credit scores work -- Find out all the different elements that are considered when your credit score is compiled. ... (more)

Establishing credit after divorce -- A stay-at-home mom who finds herself divorced with no credit of her own gets a path to her own credit history from 'To Her Credit' columnist Sally Herigstad. ... (more)

Laid off, debt climbing -- If you have savings, there are ways to decrease reliance on credit cards by setting up a short-term income strategy, says Alan Klayman in the debut 'Maturing loans' column. ... (more)

Improving credit to refinance a truck or auto loan -- Steps to take to build a strong credit score. ... (more)

While paying off debt, learn investing, says 'To Her Credit' columnist Sally Herigstad -- If put off investing, you may get bogged down in trying to pay off your debts and never be able to start your portfolio. ... (more)

Credit, credit scores and walking away from truck, auto lease -- Seven months after leasing a new truck, a woman realizes she's in too deep and needs to get out of her lease. ... (more)

Starting over and getting new credit after a bankruptcy -- A woman pays off her bankruptcy and is ready to build her credit again. ... (more)

Consider all options before filing for bankruptcy, says The Credit Guy -- The reason that bankruptcy is recommended only as a last resort is because of the personal and financial toll a bankruptcy has on a person or family, The Credit Guy advises a reader. ... (more)

Car's too small, loan's upside down -- A woman who needs a bigger car but who is upside down on her car loan should focus on paying down the debt before looking at bigger vehicles, says The Credit Guy. ... (more)

Rich lady, big overdue card debt -- A woman with $16,000 in delinquent credit card debt, but plenty of money to pay it off, needs to do more than just write a check if she hopes to avoid repeating her mistake, says The Credit Guy. ... (more)

Keeping up credit while in jail may not be possible -- It's noble to want to help a jailed friend keep up his credit score while serving time, but unless you want to pay his bills, some things just aren't possible, says The Credit Guy. ... (more)

Dad co-signed, I messed up his credit. Now what? -- You ruined Dad's credit score by running up a big debt on a card he co-signed for you, but no, you didn't cost him his house, The Credit Guy advises a reader. ... (more)

How to opt out of credit card rate increases -- If you've been notified that your interest rate is going to jump, you may be able to pay your credit card off at the old rate, but you lose use of the card. ... (more)

When do credit card balance transfers make sense? -- Having a firm repayment plan makes the difference, The Credit Guy tells a reader. ... (more)

Pay off credit card debt or declare bankruptcy? -- It's painful, but a reader who took $13,000 in credit card cash advances and lost it to an Internet scam needs to pay the money back, says The Credit Guy. ... (more)

Q&A: Pawn off $10,000 credit card debt on son? No way! -- The Credit Guy, who answers readers' questions for CreditCards.com, thinks this parent can pay off the delinquent bill. ... (more)

Expert Q&A: Budget for debt, but not too tightly -- A recent college graduate saddled with debt needs a spending and paydown plan, but it's bound to fail unless it includes some fun, says The Credit Guy. ... (more)

Ask The Credit Guy: Should I do credit rehab myself? -- Credit counselor Todd Ossenfort, aka The Credit Guy, answers a reader's question about whether it's wise to embark on do-it-yourself credit repair. ... (more)

CreditCards.com editorial corrections policy -- CreditCards.com strives to publish accurate information. If you believe we have published something in error or wish to comment on an article, please e-mail us at editors@CreditCards.com. ... (more)