Your Personal Finance Wizard
In this section of Personal Finance Whizz, we discuss credit cards. So, here you will find credit card teams, offers, a clear idea of credit scores, getting and maintaining credit cards with many more related topics.
No, my chase plan does not lower the balance. Your Balance remains the same, you just don’t need to pay any interest for a particular purchase with my Chase plan. In a hurry?Listen to this audio summary Planning on purchasing something big with your case card or thinking about using the My Chase plan? Hold … Read more
Account Closed By Credit Grantor indicates that your credit issuer has closed your account with or without your permission. Both parties may be liable for this. In a hurry?Listen to this audio summary Did “Account Closed By Credit Grantor” appear on your credit report? But you don’t know the reason? Well, this post can help. … Read more
The statement balance is the total amount you owe to your credit grantor while the interest-saving balance is the amount you can pay to avoid interest on the balance. In a hurry?Listen to this audio summary Do you have a Chase or Amazon credit card? Then you must have heard about Interest Saving Balance a … Read more
Maxing out credit card can eventually lead to a low credit score, credit limit fee, high interest, and high minimum payment. Paying the full balance right away might be a solution to this. Do you have an overspending habit or Are trying to get a credit card? Then this post is a must-read for you. … Read more
A grace period is the span of time when your credit card company won’t charge any interest on new purchases. It is usually the time between the end of a billing cycle and the payment due date. Tired of paying high interest on your credit card? Well, a credit card grace period can help you. … Read more
Purchase APR is the specific annual percentage rate or interest rate applied only to your credit card purchases if you carry a balance on your credit card. In a hurry?Listen to this audio summary Applying for a credit card? Then a clear understanding of Purchase APR is crucial for you. Because most of us use … Read more
A billing cycle is the time frame between your last statement’s closing date and the current statement’s closing date. It is also known as the statement period and generally lasts between 21-55 days depending on the product or service. Credit cards are great financial tools if you understand them properly. To understand credit cards you … Read more
Interest saving balance is the minimum amount your credit card issuer charges you so that you can avoid paying interest on the balance of your credit card. Moreover, if you pay your interest saving balance then you don’t have to pay interest on new purchases until the due date. Credit cards are great personal finance … Read more
A credit grantor is a person or institution that grants you credit. A credit grantor can be a credit card issuer, a financial institution, or a company that grants you some sort of credit. In a hurry?Listen to this audio summary However, don’t worry. Because as a financial advisor, I have helped a lot of … Read more
No, debit cards do not directly affect your credit score. However, not paying debit card overdrafts can harm your credit score, and only using a debit card can lead you to not building a credit history. Credit scores can be complicated and there is much confusion related to them. One such confusion is, does debit … Read more
