Alexandria White’s Posts

CNBC Select spoke with four executives from American Express, Discover, Mastercard and Visa to find out what credit card trends to expect in 2020.

’Tis the season to shop, and a new holiday survey from American Express Pay It Plan It found that 86% of millennials (23 to 38) spent more money during the holidays last year than they planned to.

If you have credit card debt, you’re not alone. In fact, about 61% of Americans have a credit card and cardholders carry an average balance of $6,194, according to Experian.

First comes love. Then comes marriage. Then comes many discussions about how you should manage your finances as a couple. Getting married is a big life milestone and a great chance to take stock of your financial situation — that includes your credit cards.

Credit cards are essential for building credit, but only if you’re smart about how you use them. The best credit cards offer generous welcome bonuses, rewards and added perks that may tempt you to spend more than you can afford. In order to make a credit card cost-effective, it’s crucial to make payments on time and in full to avoid incurring big interest charges.

If you’re looking to apply for a credit card, you may wonder if there’s a best time to submit an application. There are always limited-time bonus offers that may tempt you to apply, but that doesn’t mean it’s the best time to sign up.

Store credit cards can be a tempting option since they frequently offer a huge discount on your first purchase, but there are some mistakes to avoid if you do sign up for one.

If you’ve been denied for credit, you’re not alone.

About 24% of Americans without a credit card say that not qualifying is the primary reason they don’t have a card, according to a survey of about 2,200 U.S. adults that CNBC Select performed in conjunction with Morning Consult in May 2019.

This week Capital One released the results of a new CreditWise survey, in connection with National Get Smart About Credit Day. The results found that finances are the number-one cause of stress (73%) — more than politics (59%), work (49%) and family (46%).