Melissa Lambarena NerdWallet Published 5:00 AM EST Dec 7, 2018 Trying to get your first credit card can be as frustrating as trying to land your first job. Employers want experience, but you can’t get experience unless someone hires you. Similarly, a credit card is the quickest way to build a good credit history, but without a good credit history it’s hard to get a credit card. That catch-22 has been tripping up applicants since the Credit Card Act of 2009, which tightened lending standards, making it especially difficult for young people to qualify for credit cards on their own. That’s left would-be applicants with less-than-ideal options: Put down a deposit for a secured credit card, piggyback on someone else’s good credit as an authorized user, or delay credit building entirely. This has created an opportunity for startup credit card companies that look beyond credit scores when considering applications. These companies use alternative methods to gauge … [Read more...] about Alternative credit cards offer new way for young to build credit
How do refunds work on credit cards
A chargeback lets you dispute a credit card transaction and reverse it, getting your money back. For example, if you paid a subscription fee to MoviePass and the company just won’t let you cancel your subscription, you can do a chargeback. The chargeback process is handled entirely through your bank or credit card issuer. The issuer will contact the business and sort things out, and you should almost certainly win if you have a valid reason for the chargeback. If It’s Fraud, Call Your Credit Card Company Immediately First off, if the purchase was fraudulent—for example, if someone has acquired your credit card details and is using them to make purchases—you should contact your credit card company immediately and let them know. The company will cancel your current credit card, send you a new card with a new number, and cancel the transactions you didn’t make. When You Should Initiate a Chargeback Here are the situations where you’re allowed to … [Read more...] about How to File a Chargeback on a Credit Card Purchase (to Get Your Money Back)
Robert Powell Special to USA TODAY Published 11:43 p.m. UTC Jul 18, 2018 Question: I’m 64. My credit score is about 656. For different reasons over a long period of time — including unemployment and health issues — I accumulated credit card debt of about $50,000. I intend to take out an unsecured personal loan, but I don’t want it to have a negative impact on my credit score. I have a job now and I will pay my monthly payments on time. But what will happen if I cannot continue my payments to the lender? If I should file for bankruptcy, which is worse: defaulting on credit card debt or an unsecured personal loan? If I try to negotiate a reduction of my debt with the creditors, do you think this procedure will be successful and not take too long? And what is a nonprofit debt relief company/agency, and how could they help me? Bottom line: What strategy would you implement to resolve the debt problem if you were in my … [Read more...] about How do I get out of $50,000 in credit card debt: personal loan or repayment plan?
YOU'VE already started counting the days until you jet off to the beach - but have you given any thought to which debit card you are going to use while away? Using the wrong plastic abroad comes with hefty fees which can be a nasty surprise when your next statement rolls round. Here's what you need to know. Why can't I use my normal credit card for spending when I'm abroad? No one is stopping you from using it. But if you do, it's likely you'll be hit by a host of hidden charges. There are lots of different fees to be aware of, according to Andrew Hagger of personal finance website MoneyComms. One of the most common ones is something called a "non sterling transaction fee." This will typically add up to 3 per cent to the cost of any purchases you make when abroad. You should also avoid withdrawing cash on a credit card unless you have to or you'll also have to count in the ATM withdrawal charge - typically between £1.50 and £5.00. To make matter worse some cards … [Read more...] about The credit cards that will rip you off if you use them on holiday
SHOPPERS are being warned not to fall for a text messages which claim to be from Argos but are actually a phishing scam. The texts tell the user that they are owed a refund on their Argos credit card but actually it's an attempt to steal your bank details. The text messages say: "Your Argos credit card has a refund of £270 from an over payment." Then it asks you to follow a link in order to get the money back. But instead of taking you to a genuine website, the link directs the victim to a fake one run by scammers who try to get you to hand over your bank details. The texts can be even more convincing because they can come through on the same thread that genuine messages from the store have previously come through on. How to spot a fake text messageIF you've received an email or text message claiming to be from your bank or a retailer, then these are the things you should look out for: Your bank or the retailer will always address a customer by name They will never ask a customer … [Read more...] about Shoppers warned about fake scam texts offering Argos credit card refunds