What are the advantages&disadvantages of credit cards?

Answer Credit cards have replaced cash and checks for many people as the preferred payment method. While the convenience of credit cards are a plus, there are some disadvantages to their use.ConvenienceCr... Read More »

Top Q&A For: What are the advantages&disadvantages of credit...

The Similarities Between Islamic Credit Cards & Conventional Credit Cards?

The Koran, the holy scripture of Islam, forbids Muslims to charge interest. As with the Hebrew Scriptures, the Koran places lending in the category of charity, and so regards interest as a form of ... Read More »

Are gold credit cards better than regular credit cards?

On One Hand: Regular Cards Accept Lower RatingsRegular credit cards have higher credit limits than secured cards but often not as high as gold cards. Traditionally, you do not need to have as good... Read More »

Will canceling credit cards with high available credit hurt my credit score?

Closing a credit card with a high available credit limit will lower your available credit, as well as remove some of your credit history. Typically, it does lower a borrower's credit score, althoug... Read More »

What is the optimal number of credit cards for a good credit score?

On One Hand: No More than SevenAccording to the Motley Fool, if you have more than seven credit cards your credit score will suffer. The FICO scoring model, developed by the Fair Isaac Corp., penal... Read More »