Credit Cards

Most credit card companies and retailers have made accommodations to handle the credit card chips. However, hackers and credit card thieves are becoming more creative with the way they steal information, now focusing their attention online instead.

Mobile apps and call centers are now taking extra measures to ensure that buyers aren’t using fraudulent cards for their purchases. E-commerce retailers and financial institutions are expected to pay over $9 billion in fraud detection solutions by 2020.

In-store theft, however, has decreased drastically due to the security chips.

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Having a credit card holds a certain amount of responsibility, especially since it can have a huge effect on your credit score. Here are some mistakes that you should avoid making with your card.

1. Don’t pay bills late.
2. Don’t max out your credit card (ideally you want to utilize less than 50 percent of the available credit).
3. Don’t close out old unused card accounts.
4. Don’t get trapped into paying useless annual fees.
5. Don’t overlook your rewards.
6. Don’t just pay the minimum amounts.

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Depending on your shopping habits, a store credit card might be the best idea for you as far as credit cards go. Not only are they helpful to have when you’re in your favorite store or browsing a website you really like, but they also help build your credit score similar to a bank credit card. These are just a few of the top rated store or online credit cards that you might want to look into adding to your wallet.

1. Amazon Prime Store card.
2. Target REDcard.
3. Lowe’s Consumer Credit card.
4. Gap credit card.
5. TJX Rewards card.

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College is a great time for many students to start building their credit, however it’s often hard for students to be approved for cards.

Student credit cards are practically a myth these days, especially as laws regarding credit cards continue to change. They definitely exist, however, rules have made it so that a person cannot be qualified for a card unless they’re over 21 or have a full-time income, making many students ineligible. There are ways that students can utilize their part-time jobs to show that they have sufficient income, however, it is still a rigorous process to do so.

If a student is able to get a card, they have to ensure that they always pay their bills on time and above the minimum amount to avoid messing up their credit score in such a delicate point.

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Having a credit card for your business can be stressful because running a company costs quite a bit, and there can be unexpected charges. Here are a few mistakes to try and avoid.

1. Don’t have a high monthly balance.
2. Don’t put long-term debt on your card.
3. Find a business credit card that fits your business.
4. Don’t make personal charges on your business card.

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Only some credit cards offer it, but credit card price protection can be a great resource.

If you make a purchase and later the price on that item decreases, it’s incredibly frustrating and feels like a missed opportunity. Some cards will offer you a refund on that price. All you have to do is file a claim with your credit card issuer.

Some cards will check into price decreases, but you have to register your purchases ahead of time. These programs, however, will offer you the maximum reimbursement possible.

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