Question about credit card pending transactions for HSBC Discover Card
Gasoline companies usually request for a predetermined amount for authorization which is usually more than the actual charge. This will show up as a pending transaction. Once it submits the actual charge to your credit card company, it will release the pending charge and release the rest of the line of credit back to your account. Basically, the pending amount (that which is more than the actual charge) will not go back to your available credit until the company submitted the charge to the cc company.
Who takes out the credit card first when a working married couple goes shopping together?
When I got married, we both already had our own cards, which we maintained. At a certain point, we cancelled the cards we didn't use often, along with the ones that didn't give us the most in terms of points. Then we consolidated to using primarily one card account; I think we put it under my name at the time because I had slightly more credit history, but this is a non-issue now.I completely disagree with the other answers with regard to paying cash. Suppose you spend $400/month on groceries. If you put that on your credit card, and then pay your credit card off at the end of every month, then you will get (on average) 2% in "cash back" or other bonus credits. Accounting for these bonus points, you will save about $100/year on groceries alone.And, of course, if you spend all of your money this way, then you will reduce your costs by 2% on everything. Think about it: $1000/month in rent equates to $12,000/year, and 2% of that is $240. Plus the $100 for groceries. Plus whatever else you spend money on... you'll be saving hundreds or thousands of dollars a year just by using a credit card.Credit card debt is a stupid thing to carry, but you don't have to go into debt just because you're using a credit card. You don't have to pay any interest at all.
How many Credit Cards should I have open at one time?
1. I have 5 or 6 credit cards, each has at least 5,000 limit. I use 3 of them regularly and pay the entire balance each month. The others I use very rarely. My credit score is around 810 and I have never been questioned about my revolved credit (I do own a home, I don't know if that makes a difference). 2. Close some of the accounts if you want, they'll eventually roll off. Just don't keep opening new ones and closing old ones (that gets harder these days with ID theft and all). 3. I personally use several of my cards regularly and others I have not used in months (maybe years). I do know that a low balance-to-limit ratio is good and if you close accounts that, in affect, raises your ratio since your limit went down even though your balance did not go up. Run your balance-to-limit ratio here... http://creditcard.bizcalcs.com/Calculator.asp?Calc=Balance-To-Limit-Ratio 4. It's always a good idea to check around for the lowest APR you can get. 5. 35% of your FICO score is based on paying all your bills on time. 30% is from Balance-to-Limit ratio. 15% is from the length of your credit history. 10% is from new accounts and recent "new" credit applications. And 10% is based on the mix of credit card and other loans. Sounds you best chances for a higher FICO are improving the mix of credit card, retail cards and other loans plus getting some "new" credit like a retail card, but don't get too much new credit all at once. Maybe you could request higher limits on some of your cards and get rid of some of the lower limit ones. That would keep your balance-to-limit ratio low while reducing the number of open accounts. It's all just a bit confusing. Good luck to you.
Can I pay my credit card bill a couple days before the due date? I always heard that paying on the due date is not good.
Card payments are either late or not late. The best way to easily and consistently pay on time is to set up automatic payment with your credit card provider to allow them access to your primary bank account for this payment each month. The payment will come out on the due date (or in some cases the card issuer will allow you to select any day of the month that you want — such as the day after you are paid by your employer).The only reason to make a payment manually is when you are unsure of your bank funding source being reliable. In that case, paying a few days early to allow for mail delays, etc. is probably a good idea.The issuer does not care if you pay early or on the due date — all of these payments are considered “on time”. Late payments will likely trigger fees and will negatively affect your credit score, so late payments should be avoided.
Which Citibank or ICICI credit card is the best?
CITI bank card is always better. CITI is an international bank offering lots of discount on purchases as well as great offers. The card gives much benefits and can be used at many places. Also the credit limit given to the customer is higher. CITI has lower amount to be transcated before it surcharges the annual charge.ICICI on the other hand is pretty worse. Initially they offer you some false promises so that you get lured to but the product and then they levy you hefty charges. ICICI is really pathetic in its attitude towards customers. Also they benefits are much lower in ICICI, you get only book my show offers which are not much useful. ICICI needs to transact much higher amount to waive off the annual charge. In short ICICI has lots of disadvantages as well as is not at all customer friendly. I personally had a bitter experience transacting with ICICI. The best available CC in India is CITI. Happy shopping....:)
Macys credit card?
That was the smart thing to do. I was in a similar situation. I owed Macy's 279 and a year later it was 352. They told me as long as I pay them in full, I can have my card back and they would remove the account from negative to positive. Anyway, I paid them back and they gave me a limit of 352 which was what I owed and now that I looked on my credit score. The negative entry from them is gone and now this account is in good standing. My score went up 40 pts. because of this.
If you take out a loan by a credit card company for consolidating a balance, does it affect your credit more than just paying down your balance?
It depends on the numbers. It seems you are talking about a balance transfer offer that is often offered when you open a new account and also often offered by card issuing banks you already do business with.First of all, you need to compare the interest rates. Most balance transfer (BT) offers carry an upfront BT fee of approximately 3%. Since you are paying this up front, that means a 3% BT fee is basically the same as a 6% APR. Still, it might be advantageous for you.You also have to consider your credit utilization rate and also your current credit profile. Your current credit profile determines just how adversely you are affected by a high utilization rate. First, utilization is determined in two ways:If you have five credit cards and each has a limit of $10,000, and you owe $5,000 on each, your over all average UTIL is 50%.If you have the same 5 cards with a $10,000 each, but three of them have a balance of only $2,000 and the other two have a balance of $9,500, you still have an average UTIL of 50%, but also two cards with an individual UTIL of 95% — effectively the kiss of death.Even with an excellent credit profile, two cards with 95% UTIL are the kiss of death. It’s likely your other creditors will notice this and start reducing your credit lines or closing your accounts. That only results in far worse UTIL.With an average or below average credit profile, it’s virtually certain that very high UTIL on a couple of cards will result in adverse action. Even 50% average UTIL will probably hurt you.You need to consider not only the interest you could save, but the possibility that your creditors will reduce your credit limits or close your accounts.
I have a question: You received an envelope from your current credit card company.......?
You received an envelope from your current credit card company. It contained a new unsolicited credit card and the usual enticing offers. The instructions were (a) to sign your new card immediately and to call a toll free number to activate your card or (b) if you do not want the new card, to a toll free number to close your account. What steps should you take to protect yourself from scammers and identity thieves? Explain your reasons.
The easiest credit card to get approved for?
most likely he is applying for a higher card which now days are not giving out credit, so you need to apply for a lower end card use it for a few months just enough to build some credit and then you could apply for a better card and drop your fist one, check out www.fastcreditcardapprovals.com under no credit.
How do you rent a car without a credit card?
By putting up a cash bond. I don't use credit cards. I rarely rent cars, but I have rented them a couple of times, and without a credit card. Some states have laws against a car rental agency denying a rental to a person who can put up a cash bond. I don't use credit cards for three reasons: 1. I have money. When I see something that I need, I buy it. If I don't have the money, I can't afford it. This doesn't apply to buying a house, of course. 2. Credit cards are legal loan sharks. In my state it is illegal for NON LENDING INSTITUTIONS to charge more than 18% per year. I don't know if there is any limit to what credit card companies charge, but I have seen over 32 %. Why do you think there are so many bankruptcies? Credit card companies entice people into going into debt, and then bleed them dry. 3. I like the anonymity of cash. If I want a receipt, I use a check. I don't like leaving a record of every dollar spent. If you are concerned about your financial privacy, get rid of your credit cards.