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Does using your card to pay my monthly bills count as purchases?

- Asked Aug 17 , 2017

 

In most cases, yes. Generally speaking, any transactions that draw against your credit line will count as purchases, so paying monthly bills such as you electric, insurance, or cell phone bill should count as purchases on your credit card statement. However, transactions like cash advances that are considered "cash equivalents" may not be counted as purchases.

 
 

What is the card that allows you cash advance?

- Asked Jul 16 , 2017

 

Almost all credit cards will allow cash advances. But be very careful and be sure to read the terms and conditions before performing a cash advance with a credit card. Almost all cards will charge a high fee for each cash advance and the transaction will incur a steep interest rate. The card with perhaps the most favorable terms for cash advences is the Barclaycard Ring Mastercard.

 
 

I am searching your website for the most entries you have had in a scholarship contest and It is no where to be found on your website or the web??

- Asked Jun 12 , 2017

 

If you scroll down on the scholarship page (http://www.comparecards.com/education/scholarship-award) you will find a list of all our previous winners for the CompareCards.com scholarship. By clicking "View Question & Answer" on each winner, you will be able to see the total number of entries for that contest and find the answer you're looking for.

Best of luck!
-The CompareCards Team

 
 

What is the most entries we've ever had in one of our monthly scholarship contests? Thank you!

- Asked Jun 8 , 2017

 

If you scroll down on the scholarship page (http://www.comparecards.com/education/scholarship-award) you will find a list of all our previous winners for the CompareCards.com scholarship. By clicking "View Question & Answer" on each winner, you will be able to see the total number of entries for that contest and find the answer you're looking for.

Best of luck!
-The CompareCards Team

 
 

Hello, what is the greatest number of entries that you have received on any of your monthly scholarships? I am curious about my chances if I decide to apply. Thank you very much.

- Asked Jun 6 , 2017

 

If you scroll down on the scholarship page (http://www.comparecards.com/education/scholarship-award) you will find a list of all our previous winners for the CompareCards.com scholarship. By clicking "View Question & Answer" on each winner, you will be able to see the total number of entries for that contest and find the answer you're looking for.

Best of luck!
-The CompareCards Team

 
 

Good morning to whom it may concern, I was wondering what is the most entries you have ever had in one month for your scholarship award program.

- Asked Jun 2 , 2017

 

If you scroll down on the scholarship page (http://www.comparecards.com/education/scholarship-award) you will find a list of all our previous winners for the CompareCards.com scholarship. By clicking "View Question & Answer" on each winner, you will be able to see the total number of entries for that contest and find the answer you're looking for.

Best of luck!
-The CompareCards Team

 
 

Hi, I am just wondering about your scholarship award? I was wanting to know if you would be able to tell me what is the most entries you've ever had in one of your monthly scholarship contests? Or can you tell me where I can find the answer?

- Asked May 30 , 2017

 

If you scroll down on the scholarship page (http://www.comparecards.com/education/scholarship-award) you will find a list of all our previous winners for the CompareCards.com scholarship. By clicking "View Question & Answer" on each winner, you will be able to see the total number of entries for that contest and find the answer you're looking for.

Best of luck!
-The CompareCards Team

 
 

What is the most entries your company has ever had in one of your monthly scholarship contests?

- Asked May 21 , 2017

 

If you scroll down on the scholarship page (http://www.comparecards.com/education/scholarship-award) you will find a list of all our previous winners for the CompareCards.com scholarship. By clicking "View Question & Answer" on each winner, you will be able to see the total number of entries for that contest and find the answer you're looking for.

Best of luck!
-The CompareCards Team

 
 

If you pay the full balance on each monthly statement, is there any interest charge? Specifically for the Citi Double Cash card.

- Asked Dec 5 , 2016

 

If you pay your balance off in full each month, you should never run into any interest charges! This is the best way to use a credit card because you can accumulate rewards for the purchases you're already making without incurring any additional charges.

 
 

I noticed the Chase Cards do not have the standard logo display that identifies the card as visa or mastercard. What brand(s) do they represent? Visa?

- Asked Jun 3 , 2016

 

All of the cards offered by Chase on our website are processed by Visa, except for the IHG Rewards Club Select, which is a MasterCard.

 
 

We are interested in opening an account to use as a line of credit when cash flow is delayed. If we pay a vendor using our card, is that considered a cash advance or a purchase?

- Asked May 31 , 2016

 

Paying a vendor with a credit card will be considered a purchase, not a cash advance. Cash advances only occur when you use a credit card to withdraw cash or use credit card convience checks. Some credit cards will count purchases of  "cash equivilents" such as gift cards as cash advances, but this is usually not the case. If you're every uncertain, checking the terms and conditions of your credit card or calling the number on the back of your card is the easiest way to find out what is considered a cash advance.

 
 

Should I cancel all my credit cards that I no longer use? What is the easiest way to cancel them?

- Asked May 31 , 2016

 

If the credit cards that you no longer use charge an annual fee, then it may be a good idea to cancel them to save money. However, if the cards don't charge an annual fee, you may want to leave them open. Cancelling a credit card that you have had open for a long time can potentially have a negative impact on your credit score because it will significantly decrease the average age of your accounts. That said, there is no harm in leaving them open if there's no annual fee. If you decide you want to cancel, simply call the number on the back of your card and tell the representive you want to close the account. They will have to read you a few disclosures, and they may even try to talk you in to keeping the card, but overall it is a pretty easy process.

 
 

can you get cash out from credit card and is there a charge?

- Asked May 23 , 2016

 

Yes, you can get cash out from a credit card with a cash advance. However, a cash advance is very costly and never a good idea. This is due to the high fees incurred from completing a cash advance transaction. Cash advances have higher interest rates than on normal purchases. In addition, the interest begins acrueing immediately due to there being no grace period. 

 
 

What determines the variable rate?

- Asked May 20 , 2016

 

The variable rate is determined by the APR (annual percentage rate) you receive within the card's range as well as the credit line you are approved for is based on the quality of your credit score. So a higher credit score will mean a higher line of credit and lower interest rate, while a lower credit score will result in a lower line of credit and higher interest rate. For instance, if a credit cards variable APR is in the range of 13.24% to 23.24%, the person with a higher credit score will recieve the rate closer to 13.24% and the person with a lower credit score will receive a higher rate closer to 23.24%. The variable rate is made up of a set number (known as the margin) from the credit card issuer plus the reference rate (known as the index) which is usually the U.S. Prime rate. This is why when the Fed raises interest rates, your variable APR will more than likely rise as well.

 
 

Are there any fixed rate cards out there? I don't see any on this list.

- Asked May 13 , 2016

 

Credit card rates are tied to the interest rates from the Federal Reserve, so there are no fixed rate cards. Since the Credit Card Accountability, Responsibility and Disclosure Act (CARD Act) was implemented, this made raising fixed rates more difficult for issuers. Select small banks and local credit unions still offer fixed rate credit cards, so you may want to look locally. 

 
 

I would like to use 0% interest promotion on a credit card to pay my income taxes. Allowable?

- Asked Apr 5 , 2016

 

It is possible to pay your taxes with a credit card, but you will likely be changed a fee (around 2.5%) that will make it a costly transaction. Check out this blog post for the pros and cons of paying taxes with a credit card. If you do choose to use a credit card, there are many low interest credit cards that come with 0% intro APR to help you spread out your payments over time. The Citi Simplicity comes with the longest intro APR of 0% with 21 months.

 
 

please explain "regular purchase APR." If I pay my balance completely at the end of the month, would I be charged interest on what I have purchased in the past month? I do not expect to pay any interest on what I have purchased as long as I pay the amount I am billed at the end of the month.

- Asked Mar 29 , 2016

 

You are correct in thinking that if you pay off your balance in full each month then you won't have to pay any interest. The "Regular Purchase APR" simply refers to the standard interest rate on an credit card after the introductory period is up. But if you pay your balance off in full each month, the it doesn't matter how high the APR is because you will never pay a penny of interest anyways.

 
 

What card (s) offer car rental insurance when traveling and renting a vehicle in Ireland?

- Asked Dec 10 , 2015

 

While nearly all credit cards offer some form of rental car insurance, most have territorial exclusions that do not cover Ireland, however, there are a few exceptions. The Discover It has never had these exclusions, but it isn't accepted as widely as cards from other payment networks. Citi's insurance does not have exclusions, so you could use a card like the Citi ThankYou Premier, which doesn't have any foreign transaction fees either. 

 
 

I am looking for information about checks that came with the my credit card which shows that the checks are the same as a balance transfer. My credit card company said it was and charged me interest for using them, but other companies I have dealt with use them as a purchase with no fee. What is the common protocol?

- Asked Dec 5 , 2015

 

The checks that come in the mail that draw on your card's line of credit will be one of the most expensive ways to use your credit card. These checks work just like cash advances, which means that they will usually be subject to a higher interest rate, as well as a cash advance fee. And unlike purchases, you cannot avoid interest charges from cash advances and convenience checks by paying your balance in full. With these checks, there is not grace period. While there might be some companies that offer convenience checks without a cash advance fee, the higher interest rates and the lack of a grace period still make these an expensive way to borrow money.

 
 

I received 2 Military Star Rewards gift cards today, but I did not request them. They came UPS express. There is no amount on any of them. Are they mine and why did I get them?

- Asked Dec 4 , 2015

 

These cards are issued as part of the Military Star Credit Card rewards program. If there is no money on them, there might be some sort of clerical error. I would recommend calling the number on the back of the card and asking about them.

 
 

Is the Capital One Quicksilver a Visa Card.? I am seeking a Visa because Costco is changing from Amex.

- Asked Nov 21 , 2015

 

The Capital One Quicksilver is a Visa card, and it offers 1.5% cash back on all purchases. There are many other Visa cards to choose from, and Costco will be offering its own co-branded Visa card before it stops taking American Express.

 
 

I cannot read the 3 digit number on the back of my cabela's visa card what can I do.

- Asked Nov 21 , 2015

 

Call the credit card issuer, World's Foremost Bank, tell them that the card is damaged, and asked to have it replaced. Any time you are unable to use your credit card, the card issuer will replace it at no cost to you.

 
 

What card would I be able to obtain a line of credit from so I can buy a car for work?

- Asked Nov 17 , 2015

 

If you visit a used car dealers that will accept a credit card, than any card with a sufficient line of credit will work. You could consider a cash advance from your credit card, however this is very expensive. Cash advances have high fees and typically have a higher interest rate than for purchases. You should look into automobile loan from your bank or credit union. Since your car will secure the loan, it will likely have a lower interest rate than a credit card, which is an unsecured loan.

 
 

Why does the Slate card have 3 different numbers for the variable APR? For example: 12.99%, 17.99%, 22.99%

- Asked Oct 13 , 2015

 

Cards like the Chase Slate offer different interest rates to different applicants, depending on their credit worthiness. So while someone with excellent credit will likely receive the 12.99% rate, others with merely good credit will receive the higher rates. Unfortunately, applicants will not know the rate they will receive until after their account has been opened.

 
 

Hello, I am trying to build my credit for the first time. I recently financed a vehicle and they put my co-applicant as the primary. My question is; How will they report this to credit bureaus? I am the one paying for the car. Part of the reason for getting the car was to work on building credit.

- Asked Sep 1 , 2015

 

If both of you are co-applicants on the loan, the both of you will see equal benefit(or harm) from it on your credit reports. The bank will have no way of knowing that you are actually paying the loan back, so that won't make a difference. That said, buying a car is a very expensive way to build credit, which can be easily done by opening up one or more cedit card accounts. So long as you pay each month's statement balance in full, you can avoid interest charges on a credit card. On the other hand, you will incur substancial interest charges as you pay off your auto loan.

 
 

How does Bank of America determine the conversion rate for foreign transactions?

- Asked Aug 25 , 2015

 

All credit card issuers use a system that relies on the interbank exchange rate, the rate that banks use to exchange money between themselves in very high volumes. Thankfully, this is an extremely competitive rate, and will be more favorable than any rate that you will be able to find from a retail money exchange. The only downside is that most credit cards will impose a 3% foreign transaction fee on all charges processed outside of the United States. Fortunately, Bank of America and other banks do have several cards that have no foreign transaction fees

 
 

I have a TJ card Reward platinum card. If I want to take some money out can I use a ATM Machine, do I need a PIN number to do that?

- Asked Aug 12 , 2015

 

Yes, you will always need a PIN number to withdraw cash from an ATM. However, you should think twice before actually doing so. Nearly all credit cards impose a cash withdrawal fee, as well as a much higher interest rate. And unlike purchases, your cash withdrawal will always incur interest charges, even when you pay your statement balances in full . It is for these reasons why it is always better to use a debit card to access cash.

 
 

Do credit cards start the free promotional when you open the card or from activation?

- Asked Jun 7 , 2015

 

Promotional financing offers begin when an account is opened. When you apply for a credit card, you may receive instant approval, which means that your account is oppened on that day. In other cases, it may take a few days until your application is approved and your account opened. So the clock starts ticking on a promotional financing offer on the day your application is approved, not when the card is mailed, activated, or used. The same is true for the sign-up bonuses that require a certain amount of spending within a limited time period. So while it might take a week or two until you receive your credit card in the mail, you will still be able to contact your card issuer and perform a balance transfer over the phone.