What Credit Card Pre-Approval Really Means

The “approved” part of a pre-approved credit card can be a bit misleading. If you’ve ever been denied for a credit card that you were pre-approved for, then you know that being pre-approved doesn’t mean what it seems. As with any other credit card, approval isn’t guaranteed.

If you’re considering applying for a card you were pre-approved for, keep your fingers crossed, but don’t get your hopes up too high.…
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How Credit Card Issuers Use Your Income

Your monthly or annual income is one of the pieces of information credit card issuers need to complete your credit card application. Completing the income portion can be confusing for some applications, especially if you have non–traditional income or income from multiple sources.

You can include income you earn from a full-or part-time job, retirement disbursements, and social security benefits.…
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Big Credit Card Balances Can Cause Big Problems

Most credit cards come with a preset credit limit. A card’s credit limit is the max outstanding balance you can have at any given time. You can pay down your balance and keep using your available over and over as long as you abide by the credit card issuer’s rules. That usually means making the minimum credit card payment each month on time and staying below your credit limit.…
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How Expensive Is Credit Card Debt?

Outstanding credit card debt and average credit card interest rates are both at the highest levels ever, which means consumers are paying a lot of money in credit card interest. Credit card issuers charge monthly interest in the form of a finance charge each month a cardholder carries a balance past the credit card date.…
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How to Qualify for the Best Credit Cards

Credit cards aren’t holding back when it comes to credit card rewards. They’re beefing up rewards, raising the signup bonus, and packing their cards with perks on top of perks. Rewards credit cards are more attractive than ever, giving a chance to earn cash back, points, and travel rewards for your everyday spending.…
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