The Credit Cardholders’ Bill of Rights Act of 2009 passed in the Senate last week and it’s just waiting on the President’s signature to become law. Because it’s a bill that has significant support, that signature will not be long in coming. When the bill becomes law, there will be some pretty major changes in [...]

Canceling your credit card seems like a simple proposition: call up the credit card company responsible for your card and tell them that you want to close your account. But there are a few twists and turns as you cancel your card, which can damage your credit if you aren’t careful. Being aware of such [...]

Some people don’t rely on credit very heavily. They don’t often need to apply for a loan — like a mortgage or car loan. They don’t open new credit cards. If you fall into this category — even if you just don’t expect to need new credit any time soon — you can freeze your [...]

Many American Express customers have reported receiving a card in the mail, offering them $300 if they will pay off the full balance on their American Express card and close their account. So far, it seems that the offer is only good for those American Express customers who receive the notice in the mail: it [...]

In general, I recommend against putting purchases on a credit card if you don’t have to. Even if you can pay off an expense immediately, it’s pretty easy to forget and let a balance slip over until next month. But it’s probably worthwhile to go out and charge something if you haven’t used your card [...]

Your FICO score is the key factor in whether a company will extend you credit, whether you’re applying for a credit card at your local department store or applying for a mortgage for a new house. There are entire books on how to improve your FICO score and complex strategies for managing it. All that [...]