Stacyreeves recently picked up a bit of Texas financial trivia:

Wow, interesting.. In Texas it is actually illegal to charge someone a fee for using credit cards. That is beyond ironic.

Is it illegal to charge a fee for using a credit card? In a few cases, yes, it is.

Occasionally, you may try to make a purchase and be told there’s a “credit card fee” imposed for using your card. Merchants do this because of interchange fees that make it expensive to run credit charges and slice into their profits. …

Rey_Carr brings up an often forgotten point:

At times we get big orders for our books from foreign places; but credit cards used are stolen or from the dead. Always check status.

Just as consumers want to prevent credit card theft, merchants want to prevent it as well. Though the consequences vary depending on the merchant’s agreement with a credit card company, error can be costly. You can help in a few ways.

1. Protect Your Card- Sign your card. A merchant should require that a signed card be used for …

Clewis4u91 has noticed a pattern in his credit card use- and he’s wondering what to do about it:

There is not a single charge on my Visa since I got my MasterCard. Maybe I should cancel it?

If you’ve ever browsed the internet for help, you know that it’s hard to find a consensus on this question. That’s because there are advantages and disadvantages to keeping an unused card open, and a lot of those depend on the person using it. We’ll try to review the positives and negatives …

Voodoochilli has been shopping online with their Visa- and, occasionally, it involves a few extra steps:

Is it just me that finds “Verified by Visa” annoying? Please type in the 1st, 5th and 8th number of some password you made up 3 years ago…

What is the Verified By Visa program? And can you opt out of it, if you choose?

Verified By Visa is an opt in program that allows consumers to add an extra measure of security to their online purchases. As you can read in their FAQ, it …

Tweeting from the UK, kiff182 is getting his credit cards in order:

Sorted out my finances today. Switched both my credit cards to 0% ones, and paying them off with over paid rent & deposits! Gettin there.

It sounds like kiff182 is taking one of the right steps toward financial solvency- using balance transfer credit cards.

Balance transfer credit cards are pretty self explanatory- they allow you to shift the balance from your current credit card to a new credit card. Usually, consumers take advantage of this because these cards …

Keleigh926 has a tough decision to make:

Debating if i should open up an account with Victoria Secret, I don’t need anymore credit cards but I love the stuff there.

Not all of us will be making purchases at Victoria’s Secret. But we are all confronted with equivalents of a Victoria’s Secret credit card, which are also known as co-branded credit cards. That makes it important to know if you should get one or not. Naturally, there are pros and cons.

On the plus side, you may get a significant discount …

In addition to providing information about credit cards, we’re happy to give a little advice as well. Jay_F_K gets us started when he tweets this good idea:

@msrudeattitude lol i gotta make sure i bring about 20 bucks out and leave my credit and debit cards home

A lot of the time, using credit cards leads to consumers making purchases they otherwise wouldn’t make. However, there are a few tricks you can try to curb that plastic impulse. We recommend controlling your credit, observing your purchases, and remembering …

Entrepreneur mdjensen tweets that he’s looking for the best way for his customers to pay online:

If I offer Google Checkout and PayPal, is that enough or do people just want to put in a credit card? Please respond, I need to know!

Before we can determine which is the best way for customers to pay online, we should review the three most popular options for paying on the web: Google Checkout, PayPal, and traditional credit cards.

Google Checkout …

Collateral And Credit

As a consumer, you may encounter a request for collateral when trying to obtain a loan. Collateral can be a key tool in any loan request.

What Is Collateral?

Collateral is any asset you use to obtain a loan. Collateral acts as security against a loan. If you are unable to pay the loan or otherwise meet its conditions, you may forfeit your right to the collateral.

When Is Collateral Used?

Frequently, collateral is used in larger loans. However, collateral is also used for some credit cards called secured credit cards. …

Being A Subprime Borrower

Credit bureaus, credit card companies, and other lenders use the term “subprime borrower” to describe consumers with poor credit. By understanding what a subprime borrower is, you may be able to improve your own credit.

What Is A Subprime Borrower?

A subprime borrower has a poor credit rating and credit score because of missing payments, making payments late, or making other financial mistakes. The exact number varies, but a subprime borrower may be anyone with a credit score below 650, though there are many variations within this subprime category …