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By Amanda Green
 It’s time for people to start getting practical about their credit cards and stop treating them like all-you-can-spend lending buffets. America is in debt, as a nation and as a collection of individuals. But individuals have the ability to control their spending and get smart about card services and options. Here are a few ways you can take control of your credit card situation and stop getting fleeced:
Always be on the look-out for lower rates
It’s the never-ending journey for the consumer who wants to save money on the interest he or she pays. Credit cards with low rates are out there and if you have a considerable balance on your account it is definitely in your best interest to make the switch. Some people have turned credit card balance transfers into nothing short of an art form, but when it comes right down to it you should try to secure a 0 balance transfer that can consolidate your debt and give you an introductory low rate. Otherwise you may end up paying transfer balance fees that counteract the savings you’re getting on your new interest rate.
If you have a savings, consider using some of it to pay down your debt
Continue reading Stop Getting Fleeced By Your Credit Card →
Guest Post
Having a low credit score can be a big problem. Not only will you be restricted to bad credit loans, if you are able to get loans at all, but you will also pay higher interest rates any time you borrow. A bad credit score can necessitate that you put down a larger down payment for utilities and a cell-phone service. It can make your insurance rates go higher and disqualify you from certain jobs or make it harder to get a job when your employer runs your credit.
Bad credit and lots of debt can even affect your health, as studies show that people tend to sleep less and turn to comfort food more when they are in debt, which can actually contribute to making them sick.
If you are struggling with bad credit, it’s time to pull yourself out of the bad situation you are in and take steps to improve your credit score once and for all.
How to Fix Bad Credit
Continue reading Pull Yourself Out of the Red →
Guest Post
 Every day, more than $2 million is stolen from American consumers and credit companies via fraud. Chances are you’ve either experienced it, or you know someone who has. While most cardholder agreements don’t hold you accountable for all of the loss that can occur with credit card fraud, you still need to be on your guard. Undoing fraud can be a real pain in the neck, and every incidence of fraud leads to higher rates and retail prices.
More than a third of that fraud occurs online. Scammers use a number of techniques to get your credit card number and use it for their own ill-gotten gain. So, how do you protect yourself and avoid credit card fraud online? There are three simple steps you need to follow:
Step One: Know how it happens
There are a number of techniques thieves use to commit credit card fraud. Here are a few:
Continue reading How to Avoid Credit Card Fraud Online →
Guest Post by Bill Hazelton
 You’ve heard about them before. The marketing for those 0% balance transfer credit cards is simply unavoidable with the ubiquitous TV, radio and online ads touting the “interest free” benefits of balance transfers.
Truth be told, when properly used, balance transfers can offer significant relief from the sting of high interest rates and can help consumers break the debt cycle and recalibrate for a healthier financial tomorrow.
But where does the rubber hit the road with these cards? Is there a catch? Are they really worth it?
Continue reading 5 Reasons That A Balance Transfer Can Save Your Financial Life →
Guest Post
 The UK government has promised to ramp up regulations around the short-term loans industry to stop ruthless and lending practices that demand disproportionate levels of interest.
Fears are growing among debt management companies and debt consolidation companies who offer fair IVA deals that the industry’s customers – Britain’s lower earners – are being sucked rapidly into a downward spiral of unmanageable debt due to borrowing from unscrupulous short-term loan companies.
Financial Times Investigation
The Financial Times (FT) has been investigating Britain’s reliance on the so-called ‘payday loans’ industry, which has grown exponentially as borrowers have come to rely on these high-cost, short term solutions amid recent austerity measures, lower wages and inflation – and at a time when they can no longer easily access fairer, more reasonably-priced bank loans.
Continue reading Government promises to crack down on payday loans industry →
By Kevin M
 I’ve written much on the subject of credit cards—mostly that they aren’t your friend, but more like having an enemy living in your own camp. I’m not backpedaling on any of it; credit cards have been the enabler that has led many to financial ruin. But are there times when you’re better off having a credit card?
Absolutely. Even a zealot like me is prepared to admit to that.
There are at least five reasons why having a credit card is a “must”—just as long as you don’t overdo it by running up your balance and applying for- and loading up on- more cards. (No, credit card rewards isn’t one of them—I’ve never bought that argument.) Used responsibly, there are situations in which a good credit card is well worth having.
Continue reading Five Reasons You DO Need a Credit Card →
By Kevin M
 Everybody knows that too much debt is bad; the financial universe is filled with blogs, experts, and gurus who tell us as much and even how to get out. So why are people still unable to get out from under? Is it because debtors behave badly, that they fail to adequately confront their credit problems—or are they just plain lazy?
Maybe, possibly in some cases, but I think there’s a lot more to it, and by the time you’re finished reading this list, you may have a better understanding as to why—if you’re deep in debt—you’re having such a tough time getting out of it. Knowing what you’re up against is the first step to solving a problem, and only when you do can you make any real progress.
1. Lack of sufficient income to do so
A lot of people are making less money than they were just a few years ago. They were making more money when they incurred their debt, but now the lower income level has them in a trap where they have barely enough money to pay living expenses, let alone pay off debt.
Continue reading 10 Reasons Why People Can’t Get Out of Debt →
Guest Post
 I could tell you that fraud only impacts about 0.05% of all credit and debit card transactions. I could explain that even though consumers are only liable for at most $50 in unauthorized purchases, all major credit and debit card issuers provide $0 liability guarantees. I could point out any other statistics as well as the long list of rare events that are more common than actually losing money because of card fraud, and it still wouldn’t matter.
Fraud is one of those things where the statistics aren’t really relevant because the only sample size that matters, it seems, is one. We’ve all heard the horror stories—which, by the way, are usually at least two parts tall tale, one part truth—and don’t want the same trouble to befall us. As a result, I continue to hear the following question on a regular basis: Which will better protect me from fraud, a credit card, a debit card or a prepaid card?
Continue reading Credit vs. Debit: The Fraud Protection Debate →
Guest Post by Ed O’Brien
 A home mortgage loan is likely the biggest financial investment a consumer will make in a lifetime. Because the majority of mortgage payments will be stretched over a 15 or 30 year period, the actually cost of a home can be astronomical when interest charges are considered. Many new homeowners fail to truly realize that they bought a house for $130,000 and will spend nearly that much in interest charges over the life of the loan. For a $130,000 home, the consumer may spend well over $260,000 when all is said and done.
Since many people contemplating a home purchase may initially only look at the affordability of the monthly payment they are offered, consumers may not fully realize the advantages of doing all they can to get the best mortgage deal available. This includes cleaning up their credit significantly in order to save thousands or even tens of thousands of dollars over the life of a mortgage loan.
Why Credit Repair Matters to an Affordable Mortgage
Continue reading Want to Save Thousands on a Mortgage? Fix Your Credit →
Guest Post by Mike Brains
When choosing a credit card, many people will go for the cards that offer the best rewards. One of the most common rewards offered by credit card providers is air miles. This can help you save money when booking holidays or business travel.
Ever time you make a purchase using an air miles credit card, you will accumulate points. These can be used to book flights for free. Also, many credit card providers offer a large amount of air miles for taking the card, before you even make any purchases.
Saving money with an air miles credit card
Continue reading How can air miles credit cards get me travelling further? →
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General: Any information in regard to money, credit, personal finance, or in regard to any other monetary topic, provided or shared on OutOfYourRut.com is presented for information and entertainment purposes only and does not constitute financial advice. It is intended to provide general information only and does not constitute personal financial advice in regard to your specific circumstances...MORE-->
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