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Frequently Asked Credit Card Questions

Question: Can I get a cash back credit card without earning 2% rebate on my purchases?

A: Some financial companies offer cash back credit cards for the amount of money taken back and in some cases you can also get rebates from many products and services offered or even just a few products that you currently use or have purchased.

But, is this something that you should pay extra for?

Does this offer give you less money for your purchases?

Answer: yes! Under Federal law, you are accountable for paying back money received in this way.

Now your credit cards company or retailer must give you information that looks like the information on your old credit card statement. I recommend you check this information out first.

You must check at least one of the following:

1. You must tell the credit card company you received the cash back credit card.

2. If you think it isn’t in the credit card statement, you must complete an investigation.

3. You must pay a fee to have all of the information removed from your statement.

4. You must pay a fee to have all of the information checked.

5. You are responsible for paying back a credit card statement in full, even if you receive funds back.

Q. My balance is overcharged?

A. Overcharging takes some time, but by the time you pay the grace period off (if any), you won’t be paying anything back. A credit card statement is written for a long period of time that will stretch for a few months to years.

Q. Do I have to pay a fee if I’m allowed a credit card?

A. There are a few particular circumstances where you don’t have to pay a fee, but you’ll need to see if it’s in the credit card statement. These are all good to use if you want to avoid late fees and over-limit fees; see below for more suggestions.

Q. What about my penalties?

A. If you are getting your cards late in the year, be sure it’s because you know you are getting penalized, so make sure you find out the severity of your problem by reviewing your credit card statement each month.

Q. What if I’m not paying my bills on time?

A. A quick look at your monthly credit card statement shows you are paying for late payments. This can be one of those situations that you don’t pay your bills on time. Here’s the reality; if you miss a payment, or have a late fee that is beyond your credit card bill, you can find yourself in serious financial trouble.

Q. What should I do if I feel I’m not making changes to my spending or payment plan?

A. Make a budget that gives you the spending money you need, but at a reasonable monthly payment. Pay off your cards completely, and then make a monthly repayment as part of your plan to cover your expenses.

Cancel all credit cards and cards that have been lost or stolen in the past few months. You can also cancel up to one card per month. After you cancel all four credit cards, begin paying off your balances. After canceling one card, make sure you pay off all four credit cards. Since canceling three and 4 way credit cards would take a while, it’s good to know you’re able to manage one credit card and a smaller monthly payment.

You should also cancel any cards that are being billed over your debit card account or over your credit card. Pay each bill on time, and keep your accounts current because it may negate the income your payments will bring in.

Q. What if I’m late on my monthly or annual fees and bills?

A. Check your credit report carefully for errors you discover in the course of your reporting. For instance, were you late on your charges or checks? Do you know why? Are you responsible?

Ask your creditors for corrected reports so they can raise your scores and reestablish some control on your spending.

By remembering to pay your bills on time every month and paying your credit card bills on time, you can lower your overall debt. If you follow the simple tips below, you’ll be on your way to financial freedom, no matter how late your bills are, and your life turmoil bring down your overall debts, you could be on the way to financial freedom in a matter of days.

How To Find Out What Is On Your Credit Report

The major credit reporting agencies are so many and so busy that a lot of the information that is put in your file is taken for granted and never really looked at seriously.