Credit Card FAQs


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Frequently Asked Questions about Credit Cards:

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We put all FAQs into categories for your convenience. You can browse among categories for useful information or address you own question to our experts directly. Our qualified credit experts are always ready to help you.

Most Asked Questions:

When can I get an airline credit card?

Typically, you can start shopping for airline credit cards when you have good to excellent credit history. There is no sense in applying for an airline credit card earlier, as you may not be approved for a Visa Signature or World Elite Mastercard cards, which offer better travel perks and benefits. Continue reading

Which is the best travel card to use?

It depends on how often you fly, your spending habits, and whether you are loyal to one particular airline. Thus, when you do not fly a lot, having an airline branded or travel tailored credit card won't have sense. You won't simply earn those big rewards in travel category if you do not travel. Continue reading

More Frequent Flyer Miles FAQs
How to get approved for a credit card?

Today applying for a card is as easy as just clicking on a button ‘apply’. On the other hand, getting approved for a credit card is not that simple. Credit card issuers review different criteria when they decide whether you qualify for a card. And in this situation, you are left with a choice – either you leave it up to fate, or take everything in your own hands and try to influence your bank’s decision. And here we are to advise you on these issues. So, what do you need to improve the... Continue reading

What is a credit card?

Credit cards are lines of credit. They can be used to make purchases, pay for services, make balance transfers and cash advances. You are required to pay back the loan amount in the future, but meanwhile you can make at least minimum payments every month before the due date. When you carry a balance, interest charges apply, and if you want to avoid interest payments, you should pay off the card balance each month by the due date. When you use a... Continue reading

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What is a cash back credit card?

A cash back credit card is a card that offers a cash back reward program as an incentive. Essentially, it means that a percentage of the amount spent on purchases is returned to you. This percentage may differ depending on the terms of a credit card issuer that produces your card. For example, the amount of your cash back is 3%. It implies that if you spend $100 with this credit card, you'll earn $3. Cash back credit cards often have welcome bonus offers. Such offers... Continue reading

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What is Mastercard sign in and how can I use it?

There are a lot of services with Mastercard sign in. You can use all of them or just those that suit your lifestyle. Below you will find some of the services you can use as a Mastercard cardholder. Continue reading

What is a virtual credit card? Can I get a virtual Mastercard?

A virtual card is basically just a number specifically generated for you to pay for your purchases online. This number is connected with your account and allows you to draw money in a secure way without endangering your real account. There is no difference for the online merchant between a virtual card or a physical card, but in this way a merchant doesn't have an access to an original account, hence no opportunity to steal. Continue reading

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What is balance transfer and how to go about it?

Balance transfer is a scheme that saves you from paying extra interest on your outstanding balance. It helps you to clear your debts in a much faster and efficient way, when you have your interest rates holding you from clearing your credit card balances. It is a process that takes place between two banks or credit card agencies and you. Your previous account with a bank or a credit card company will be transferred to a new credit card company or a bank... Continue reading

Is a balance transfer good or bad for a credit score, or could it damage my credit?

Transferring your balance from a card with a high APR card to one with a lower interest rate or even 0% APR, is usually a smart move and will not hurt your credit score. In fact, having another line of credit open will add to your total available credit and may improve your credit score. However, applying for new credit can have a short-term negative effect on credit, so try not to open too many new accounts within the same time frame. Continue reading

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How many credit cards should I have?

There is no magical number of credit cards that is considered right for all consumers. In fact, the number of credit cards you can have depends on your individual credit history, credit score, and the way you manage your credit accounts. Lenders also have their own view on how many credit cards is "too many." Continue reading

More Building Credit History FAQs
How to redeem credit card reward points?

Figuring out how you can use the points you've earned so you're not wasting them can be confusing. Points can be converted into cash, transferred to loyalty programs, used to buy airline tickets, hotel stays, gift cards or merchandise. Some redemption options can be real deals while others may not be that good. Explore what redemption options you have and a redemption ratio for each. In most cases, gift card redemptions offer the best value, but some transfers may work perfectly as well. Continue reading

What is the best credit card for rewards?

If it is your first rewards credit card, we would recommend applying for a no annual fee credit card with a fixed cash back rate on all purchases, without any changing categories and enrolments. Cash back rewards are easy to understand, manage and redeem. You will always know how much you will get back from this or that purchase. When you get acquainted with rewards, you can consider other types of Continue reading

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Hi I’m searching for a major credit card for car rental use and for gas but my score is very low. Could you give good advice?

You can apply for a secured credit card. You will need to put down a security deposit to get this card. A minimum security deposit is around $200 and it gets you the equal line of credit. Continue reading

Can I get a credit card if I have no income and bad credit?

If you have bad credit and no income, it will be difficult for you to be approved for most credit cards. But there are some cards that you can apply for. Try a credit account like Fingerhut, which offers guaranteed approval and no credit check - or get a prepaid card instead of a credit card. Continue reading

More Bad Credit FAQs
What is the difference between business and personal credit rating?

Business credit rating is a rating of a particular corporation or a small business company. The business credit score can be and should be separate from your personal credit score. When these two scores are separate, your personal and business financial risks are separate as well. Continue reading

How to get rewards with business credit cards?

Many issuers of business credit cards offer cards with rewards programs. So look around to find such offer. A reward program will allow you to earn rewards on different business expenses. Continue reading

More Credit Cards for Business FAQs
What card can I apply for with good credit?

When your credit is good, you have a wide range of cards to choose from with a variety of rewards. It’s up to you to decide if you want cash back, travel miles, a 0% introductory APR on balance transfers or purchases, or a no-frills card with a low APR and no late fees. Read our credit card reviews and decide which card is best for you. Continue reading

What card can I apply for with excellent credit?

If your credit is truly excellent – in the high 700s or above – then you have many choices including cards offering VIP perks and concierge service, big sign-on bonuses, and high-value rewards. It’s simply a matter of which card you prefer, so think about what card best fits your needs. Continue reading

More Good Credit FAQs

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May 08, 2015