The popular advice is to call your credit card company and ask for - or maybe even demand - a lower rate. This can actually work, but only if you have some leverage. Otherwise, asking for a rate reduction is just like asking your boss to give you a raise because you're a nice person. Businesses don't willingly part with their money unless there's some compelling business reason to do so. Read more...

Buy now and pay later. It's become the American way. There's no doubt that a credit card can be a powerful and useful tool. However, as more and more Americans discover every year, too much of a good thing can lead to big trouble. Read more...

The Identity Theft and Assumption Deterrence Act makes it a federal crime when someone “knowingly transfers or uses, without lawful authority, a means of identification of another person with the intent to commit, or to aid or abet, any unlawful activity that constitutes a violation of federal law, or that constitutes a felony under any applicable state or local law.” Read more...

Contrary to what many college students would like to believe, credit cards don't give you "free" money. They simply change the way you pay. In fact, using a credit card is like getting a flexible, short-term loan. Whenever you purchase an item with your credit card, you basically borrow money from the credit card companies and repay it when the bill comes in later. Read more...

Every year bankruptcy is claimed by more than one million people. Declaring bankruptcy happened with many Americans. And there is an increase of number claiming bankruptcy filers among educated people, baby boom middle class persons with sufficient level of credit card debt. But bankruptcy is claimed not only by people from these classes. It can become vital for anyone who reaches a line where they can no longer successfully deal with the credit card and other debts they have incurred. Read more...