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Credit cards can increase your purchasing power, but how many credit cards are too many? There are both pros and cons of having multiple cards.
Continue ReadingThe concept of credit—purchasing something now in return for payment later—has been around for thousands of years. Five-thousand-year-old old texts from ancient Mesopotamia exist, recording accounts of clay tablets being used as instruments for conducting trade, sort of like earthen credit cards. But when did actual credit cards like the ones you carry in your purse or wallet today materialize?
The magnetic stripe of your credit card contains a lot of sensitive data necessary to conduct a credit card transaction, such as the account number, the cardholder’s name, the card expiration date, a service code, and even a card verification code, also known as a CVV (card verification value). Because information is stored magnetically via iron-oxide particles on that stripe, it can be susceptible to becoming demagnetized by magnetic fields given off by other magnet or electronics. Should your credit or debit card’s magnetic stripe come in direct contact with—or in close proximity to—a strong enough magnetic field, those particles could become smeared or rearranged, rendering it useless.
Whether it’s a job loss because of the coronavirus, serious injury, unexpected illness, or another of life’s many curveballs that can come your way, a financial setback can occur at any time. Oftentimes when you least expect it. And, if you’re struggling to pay your bills, your credit could take a hit along with your finances.
One great of the many benefits of using a credit card is that, if it’s a rewards credit card, you can earn rewards in the form of cash back, airline miles, travel perks, points, and more just for making purchases with your credit card. Check out these 10 tips for maximizing rewards on your rewards credit card.
Until human beings figure out how to survive without food, “groceries” is one of those expense categories in your monthly budget that's here to stay. Yes, there are things you can do to save on groceries, such as shopping on certain days of the week, clipping coupons, buying in bulk, purchasing food that’s in season, buying generic brands, and more. But did you know that how you pay for your groceries could also save you money?
This material is for informational purposes only and is not intended to replace the advice of a qualified tax advisor, attorney or financial advisor. Readers should consult with their own tax advisor, attorney or financial advisor with regard to their personal situations.