Credit Federal's credit card facts quiz.

How many credit card facts do you know? Take Credit Federal's credit card quiz... the facts may surprise you.

Is it better to have a fixed-rate credit card than a variable rate credit card so you don't have to worry about your APR being raised?
Answer: Rates on both fixed and variable cards can be adjusted by the issuer.

Is paying only the minimum monthly payment a good way to pay off your credit card debt?
Answer: If you pay only the minimum amount you'll spend lots more on interest charges and it'll be years before your balance is ever paid off.

If you do not purchase credit card theft insurance, will you be responsible for whatever charges a thief puts on your account if your card is stolen?
Answer: If your credit card is stolen, you are responsible for $50 at most, as long as you report the theft as soon as you are aware of it.

If you no longer use a credit card, will the account close automatically after ten months of inactivity?
Answer: A credit card company will not close your account automatically just because you no longer have a balance or are not using the card.

Are there almost 1,000 Americans a year victimized by identity theft?
Answer: Actually, as many as 750,000 people a year fall victim to identity theft.

Does the Fair Credit Billing Act give you the right to withhold payment on poor quality or damaged merchandise purchased with a credit card?
Answer: This is one of the useful protections credit cards offer. You first must make a reasonable attempt to resolve your dispute with the merchant, but if that doesn't work, contact your credit card company.

Can you get a lower rate on your credit card simply by asking?
Answer: Credit card companies have no incentive to lower your rate unless you ask.

Must credit card companies give you 60 days notice before raising your rate?
Answer: Federal law only requires that the company give you 15 days notice prior to a rate increase for a fixed-rate card.

Are credit card issuers required by law to charge the same rate for purchases as they charge for cash advances?
Answer: Card issuers can charge a much higher rate for cash advances.

Do you damage your credit every time you order your credit report?
Answer: Numerous credit report inquiries from lenders can affect your credit rating, but checking your own report doesn't have a negative effect.

Is a secured card a credit card with a rate guaranteed not to increase?
Answer: It's practically impossible to find a credit card with a rate guaranteed not to increase.


Understand options for a credit card for bad credit and the meaning of pre-approved credit card offers. Choose an unsecured credit card, secured card, or an instant approval guaranteed card.

Free credit card interest calculator to calculate credit card payments and how long it will take to payoff balances. Learn how to avoid credit card debt. If you have excellent credit, you may qualify for a 0 intro balance transfer card. If you do not have excellent credit and are looking for a balance transfer, consider credit counseling instead.

Get help choosing a credit card that's right for you and your credit, and for your spouse if you need a joint credit card. Get a small business credit card or a student credit card.

How to read a credit card statement.

Understand that even a no deposit credit card may require an activation fee or an annual fee, and learn the difference between a guaranteed platinum card and a unsecured platinum credit card. Both offer an unsecured credit line, but only one is a true credit card which allows purchases wherever the major credit card is accepted, whereas the other only offers purchases from a pre-selected catalog.

Review credit card benefits of a pre-pay credit card and a debit card.

Store Charge Card Tips	Store charge cards offer many benefits, including rewards and rebuilding bad credit or establishing credit. The terms and conditions; however, can make it hard to maximize these unsecured credit card perks.
Credit Definitions	Definitions of common credit terms. In addition to our dictionary, we also offer free credit advice articles and calculator software to assist with personal finances and budgeting. We define: Account, Amortization, Annual Fee, APR, Asset, Auto Loan, Auto Refinancing, Auto Title Loan, Average Daily Balance, Balance Transfer, Balloon Payment, Bankruptcy, Billing Cycle, Billing Statement, Capacity, Capital, Cash Advance, Charge Card, Chargeoff, Closing Costs, Collateral, Collection Agency, Consolidation Loan, Consumer Credit Counseling Service, Debt, Co-signer, Credit Bureau, Credit Card, Fraud, Identity Theft, Inquiry, Limit, Credit Report, Risk, Score, Daily Rate, Debit Card, Debt Settlement, Debt to Income Ratio, Debtor, Default, Delinquency, Discharge, Dispute, Downpayment, Equal Credit Opportunity Act, Equity, Fair Credit Reporting Act, FICO, Finance, Fixed Rate, Foreclosure, FTC, Federal Trade Commission, Garnishment, Grace Period, Home Equity Loan, Installment Loan, Interest Rate, Introductory Rate, Joint Account, Joint Credit, Late Fee, Liability, Lien, Loan to Value Ratio, Minimum Payment, Mortgage Loan, Income, Nonrevolving Credit, Origination, Over Limit, Payday Loan, Periodic Rate, Personal Loan, PITI, Points, Prepayment Penalty, Prime, Subprime, Principal, Refinancing, Repossession, Return Check Fee, Revolving Credit, Second Mortgage, Secured Credit Card, Security Freeze, Signature Loan, Smart Card, Social Security Number, Statute of Limitations, Student Loan, Tax Lien, Trade In Value, Tradeline, Universal Default, Unsecured Loan, Vacated, Variable Interest Rate, Wage-Earner Plan, Writ of Replevin
Credit Card Scam Tips	Free financial security tips to prevent being a victim of credit card identity theft, scams and fraud.
Debt Collection Agency Negotiation	Cannot repay bills? Free tips for debt collection agency negotiation. Before you agree to a loan or credit card debt settlement chargeoff, read our advice.
Debt Free Money	The government free money (stimulus checks) may have stimulated the economy at the expense of digging consumers deeper into credit card debt with new expenses added to bills they already cannot repay. Consider credit counseling, debt consolidation, or negotiate chargeoff settlements.
Stolen Credit Card Numbers	Are you one of the 41 million people whose credit card number was stolen? Recover from fraud and identity theft. Learn how to place a fraud alert on your credit report, and get other free tips and advice on how to check for credit report errors, fix and improve bad credit scores.
Discover Motiva Card	Discover Motiva Card received the honor as the Best New Credit Card Product Launch. Browse and apply for the Motiva Card, or other Discover credit card rewards.
Cancel Credit Card Account	Tired of credit card debt? Before you cancel credit card accounts, read this article. Also learn about credit counseling, debt consolidation and chargeoffs and debt settlement.
Improve Credit Score	Easiest way to improve bad credit is to piggyback. You can improve credit scores by being an authorized user on the credit card of some other person who has good credit. Check your credit report and fix errors.
Airline Sky Miles	For added cash flow, airlines are selling frequent flier miles. Apply for the rewards and benefits of a sky miles or travel credit card.

Close Credit Card Account	Free sample letter on how to close credit card accounts. Need a new card? Browse the best credit card offers and apply online.
Store Charge Card Theft	Recent store charge card number thefts and financial security tips to protect against identity theft and credit fraud.
Higher Debit Credit Card Charges	Rewards are high for Visa, as consumers who are tight on money charge more on credit cards. Card maxed? Apply for balance transfer credit card offers with 0 interest intro, or for benefit cards to offset rising costs like gas.
Emergency Loan Funding	Free credit tips for emergency loan funding. Cover urgent expenses with a credit card, short term payday loan, long term equity loan, borrow money, reduce bills or negotiate repayments.
$1 Dollar Law Suit Prevention	Does a $1 dollar payment; instead of payoff, ensure law suit prevention from your credit card company? Learn the legal truth, plus other tips and advice to protect your personal finance from mistakes and fraud.
Credit Card Secrets	Credit Card Secrets: Hidden facts you probably didn't know. Submit an online credit card application for any credit rating.
MasterCard Gas Purchases	MasterCard responds to gas retailer concerns over card transaction fees. Browse and apply for a gas card, vacation or travel card that offers miles or cashback.
Bank Overdraft Fees Increase	Banks increase penalty overdraft fees. Now not only do you need to reduce bills, but also avoid going over your bank checking account and credit card limit.
Chase Card Continental Airlines Rewards	Chase and Continental Airlines renew their Card Agreement, offering members continued airline travel rewards and benefits.
Best Credit Card Benefits+Rewards	Credit cards get more than their fair share of bad press, but the truth is that most credit card problems are with the cardholder, not with the card itself.

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