Credit card companies want you to use your credit card. To get you to do that, they will offer rewards based on your charging habits.

Usually the more you charge on your card, the bigger the reward you get. The key is to understand what’s out there so you can pick the best rewards credit cards based on your spending habits.

0% transfer offers for 6,12, and 18 months.

Credit card balance transfers seem like a great opportunity. In fact, the way the lenders present these loans, they seem like they are the best thing that has happened in the lending industry in a long time.

Did you know that debt collectors have a limited amount of time to collect on old debt?  There is a Statute of Limitations (SOL) that varies by state that dictates the length of time a collection agency can legally take action to collect a debt.  So if you have an older debt that has not been cleared from your credit report or are being hounded by debt collectors for a debt that you thought was written of several years ago, what should you do? 

First you need to understand that each state has its own SOL that may vary based on the following categories:  open accounts, written contracts, oral agreements, and promissory notes.  Credit card debt is usually considered an open account. 

Do you cringe as the phone rings for the sixth time in three hours and you look at the caller ID recognizing it is a debt collector calling….again? If you have fallen on hard times and are behind on paying some bills, you may face this situation, over and over again. A debt collector is being paid to collect debt, and often times will use whatever methods considered necessary to get results. In many cases a person doesn’t simply choose to stop paying their bills; instead they don’t have the money to pay them. What are your rights if you are suffering a financial hardship and cannot stretch your paycheck far enough to satisfy all your creditors?

Many credit card holders have no idea how easily one mistake, intentional or not, can cause a huge increase in your interest rate. With an increased rate, it can quickly become near impossible to keep up with your credit card expenses, especially if you continue to make use of your cards.

So what does it take to jack up the interest rate on a credit card? Hopefully a better understanding will help people stay on track but you can’t say we didn’t warn you.