Category archives for: Loan Q&A’s

How do credit cards calculate the exchange rate?

I know many credit cards can add on a 2-3% surcharge for using a credit card overseas but what rate do they charge for the currency conversion? Do they take the market rate at the exact time of the transaction or do they use the market rate at the close of the business day? Or [...]

How does a business start excepting credit cards that has never taken credit cards before ?

we have a small business and want to start excepting credit cards as payment but don’t know where to start ?? do I call the bank or visa or master card ??

I have several paid up credit cards I want to close out, how will this affect my credit score?

I am working on paying off my credit cards because I am planning to retire in 3 to 5 years. Is it ok to close out these paid up cards all at one time or does it matter?

Is having a lot of credit cards good or bad for your credit score?

I’ve heard both… my teacher said having a lot of credit cards will lower my score. But I also read that part of your credit score is based on the formula how much you owe/ total credit , so in that case having more cards would be better. I have 7 cards and I only [...]

How to combine credit cards, to pay them off in one lump sum?

I have two credit cards with debt of 7,000 with both cards combined. Is there a way that I can combine those credit cards and lower the payment and pay them in one lump sum? I just want to get rid of these cards so I can move on with my financial growth.

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