Virginia Raegan

Are all credit cards the same? Not so much. It’s important to know the difference between popular credit cards. Whether just achieving credit card debt payoff and looking for a new card to replace your old, high-interest card or just wanting to open a new one, there are plenty of cards to choose from. Here are some of the most popular types of credit cards to know about, from rewards cards to store cards. Rewards Cards As the name suggests, rewards cards give you points or cash back on a percentage of your spending. There may be bonus points for categories such as gas, groceries, or restaurants. Some cards offer temporary reward categories, often lasting for a few months. You can typically redeem your points in several ways, including gift cards or merchandise. These cards can be great for everyday expenses, as you can earn rewards for things you need to buy anyway. However, it’s still important to pay off your balance monthly to avoid interest charges. Cash Back Cards When you u...

When you have a lot of credit card debt, it can seem impossible to pay it all back. It just keeps growing. The interest keeps building each month. How do you start paying it off faster? The right tips can help with credit card debt and get you back on track. With the right repayment strategy, you can start paying off your card and living a better life. Here are a few tips to help you get started.  Understanding Interest Interest is typically applied each month at a rate called an APR, which can be fixed or variable. It looks at how much money you owe, and a percentage of that is added to the account as interest. This is how lenders make their money. You can use a credit card interest calculator to see how much interest you are generating, given your card’s APR, and how you can pay it off faster. The first step to understanding how to pay off your card is knowing that more debt is added each month in the form of interest. Now that you know how much is being added, yo...