FAQ

Credit cards can be frustrating at times. You have to pay interest on your balance, you can exceed your maximum monthly spending limits, there are fees to deal with and you have to know a ton of different terms to truly know what you are getting yourself into.

APR stands for the annual percentage rate a credit card company charges their customers. The average credit card has a 15% APR meaning you will pay fifteen dollars in interest for every 100 dollars you spend yearly.

Visa is perhaps one of the most well known credit card companies in the world. What many people do not realize though is that Visa does not actually issue credit cards themselves anymore.

The name Mastercard is one known by most of the world’s population.

These days you need a credit card to rent car, book a hotel room, secure an airline reservation and a lot more. Sometimes you can use your debit card to do these kinds of things but even when that is a possibility it can involve extra fees and extra hassles.

The way that financial institutions determine credit card limits is a bit of a secret sauce thing – most people – including financial experts – have a basic idea about the process that financial institutions follow and the factors that they take into consideration but each of them is rather secretive about exactly how they do calculate an individual's credit limit and the one thing that is agreed upon is that the process can – and does – change at any time.