How can I improve my credit score? Here are some tips for improving your credit: Pay your bills on time. Paying an account late is better than never paying it at all.…
What are annualcreditreport.com and freecreditreport.com? To order your free annual credit reports with no obligation to purchase other services, go to www.annualcreditreport.com. Freecreditreport.com is a website run by the credit…
How can I figure out how long it will take me to pay off my credit card balance? Your credit card statement includes a box that shows how long it will take you to pay off your balance if you make only the…
What happens if I opt-in—or don’t opt-in—to over-limit fees? If you have opted in to over-limit fees and you make a purchase that would cause you to exceed your credit limit, the card issuer…
What is credit card “skimming”? Credit card skimming refers to thieves making an illegal copy of a credit card or a bank card using a device that reads and duplicates…
Can I add an additional user to my debit card? Yes, you could “authorize” another person to carry and use a debit card linked to your account. Since an authorized user would be able to…
What’s the difference between a debit card and a credit card? Although debit and credit cards look the same, when you make a purchase with a credit card you are borrowing money from the bank that…
Will a debit card help me build a credit history? No, debit card activity is not reported to the credit bureaus. Although debit and credit cards look the same, they are very different. With a…
Does a debit card have an expiration date? Yes. The expiration date can be found near the bottom of the front of the card. Typically, debit cards expire every two to three years,…
Should I use a credit card or a debit card when shopping online? Consumers who have both a credit card and a debit card should generally use their credit card online. Credit cards offer significantly greater protections for…
How are gift cards different from reloadable prepaid cards? Gift cards are not reloadable—once you’ve spent the balance on the card, it becomes useless. While some gift cards carry the logo of one of…
I have a checking account and a linked debit card. Do I need a prepaid card? Probably not. Careful use of a debit card (avoiding overdraft penalties and ATM fees) will nearly always be less expensive than the same spending on…
How can I protect the bank and credit card accounts I access online? Change your username and password several times per year. Never use variations of your name, children's names, pet's name, birth date, address, etc. that might…
Are the gift card laws in my state the same as federal laws? Not necessarily. Consumers Union provides a list of gift card laws by state. You also can contact your state’s consumer protection office online or by…
Can the gift card issuer charge a fee for a replacement card? Gift card issuers cannot charge a fee for replacing an expired card if the replacement is required so that the cardholder can access the available…
How are gift cards different from reloadable prepaid cards? Gift cards are not reloadable—once you’ve spent the balance on the card, it becomes useless. While some gift cards carry the logo of one of…
Consumer Action surveyed cardholders online to learn what impact the CARD Act has had on credit card users. Overall, respondents reported that credit card companies are treating them the same or better than before the law and that the disclosures mandated by the law have helped them take action to avoid credit card debt.
Source: Consumer Action
Credit Cards
Debit Cards
Gift Cards
Prepaid Cards