April 23rd, 2013
Everyone remembers their first…credit card, that is.
I opened mine last spring and was instantly dazzled by its shininess and silvery cool reflection. My credit limit seemed like a ton of money back then. A few months later, when I learned that you should stay under 30% of your credit utilization rate, I began to feel a little restricted. So I decided if it was time to shop around, I might as well earn something from my spending and open a rewards card.
If you’re contemplating taking the rewards route, like I recently did, here’s how you can decide if a rewards card is right for you.
You spend a lot in bonus categories.
Rewards cards typically have a base level of 1% cash back or 1.5 points on all purchases. What sets them apart are the bonus categories. My new card, the Bank of America BankAmericard Cash Rewards, offers 2% on groceries and 3% on gas each quarter. I don’t own a car yet, but when I have a family, the majority of my expenses will be on groceries and gas. So I envisioned this card giving me a great deal for where I’m at right now and also being helpful down the line.
April 20th, 2013
Here at the Credit Karma Blog we've talked before about the average national credit score and average debt load. We've taken a look at potential credit score rivalries and how different credit score ranges compare when it comes to debt, on-time payments and number of accounts. We love data, if you hadn't noticed. We are nerds, after all.
March 11th, 2013
Welcome to another installment of the Credit Q&A Series on the Credit Karma Blog! As we shared with you last time Ken Lin our founder and CEO has been making weekly appearances on the Ed Shultz Talk Radio Show. Ken brings credit and finance knowledge to Ed’s listeners. Lately Ken’s been answering questions from the show’s listeners. Today's question is all about credit limit increases.
February 1st, 2013
While the holidays have come and gone, many of us are still feeling the financial sting that is distinct to this most wonderful time of the year. Credit card debt is usually where most consumers have borne the brunt of the holiday weight (financially, at least—I’m sure nana’s cookies haven’t helped other areas either). But it’s important to know that if you are toting some major credit card debt that you are not alone. Here are some numbers from Credit Karma's December 2012 data that may or may not shock you.
November 15th, 2012
Today, I’ll share the exact, word-for-word scripts to get fees eliminated from your credit card. In general, you shouldn’t be paying fees on your credit card. There are some exceptions -- like for rewards cards, if you spend enough to justify the fee -- but late fees and random charges can be easily waived. Now, if you automate your finances like I told you, you’ll eliminate the need for late fees of any kind. But just in case, I’ll give you the word-for-word script that thousands of the readers on my blog, I Will Teach You To Be Rich, have used to get their late fees waived.
October 19th, 2012
We tapped our Facebook followers once again to answer this member’s tough question: “I am wondering if having high limits on credit cards is good or bad? Is it better to request higher limits?" Here’s what you had to say!
October 12th, 2012
Hi, football fans! You wear the sweatshirts and jackets—now you can show support for your favorite NFL team in your wallet. With this new NFL Extra Points Credit Card from Barclays you can pick one of 32 team logos or the NFL shield image for your card. If you’re an NFL fan into earning rewards, read on!
October 10th, 2012
In the spirit of Credit Karma community, we decided to crowdsource the answer to a question asked in the Credit Advice Center this week.
September 25th, 2012
I have a confession to make. I am a self-admitted financial junkie. I went through a phase where I opened dozens of new bank accounts, credit cards, brokerage accounts, and more – just to get a sign up bonus. Some of the offers can be fairly lucrative, with some credit card bonuses worth over $200 per new account.
September 5th, 2012
With an economy that's been down for the better part of a decade and a job market painfully slow to rebound, millions of Americans are struggling to keep their heads above water. One way for many to maintain their lifestyle has been relying on credit cards as their savings dwindle, leading to the sticky situations of bulging balances and expanding interest rates.