Category Archives: Credit
How Do Credit Card Companies Calculate Minimum Monthly Payments?
Do you know how your credit card company calculates your minimum monthly payment? In the past, most companies calculated your minimum payment as 2% of your account balance. Now, however, many companies are using a new formula. The minimum monthly payment equals 1% of account balance plus finance charges plus fees. Assuming an account balance [...]
Top 10 Ways To Save Money – Number 3 – Avoid Paying Credit Card Interest
On February 6, 2006, I made the final debt reduction payment and finished paying off all of my debt. Since then, I’ve been living debt free. I do not make monthly payments to creditors. I do not pay interest to credit card companies. I am free to do what I want to do, when I [...]
Have Gas Station Owners Been Reading No Credit Needed?
I want to once again thank those of you who arrived here via this Money Magazine article about families who are living without credit cards. If this is your first visit to my site, welcome. I hope you will take a few minutes to read a bit more about me and about how and why [...]
Credit Card Companies Want Your Money – A Guest Post From Five Cent Nickel
This is a guest post from nickel, who writes about personal finance over at FiveCentNickel. And since that, combined with his four kids, don’t keep him sufficiently busy, he has recently launched yet another site, this time focused more narrowly on credit cards. Unlike me, Nickel uses credit cards. We’ve had several back-and-forth discussions about [...]
