The real answer is that no one really needs a credit card. But, a credit card can help you with a lot of things. You will build your credit score based on your payment history and how well you manage your credit limit. If your credit score shows that you always pay your bills on time and you manage your credit limit, lenders will see that it is worth it for them to issue you a loan. If your credit card is stolen and you report it, you are not liable for charges that someone else made on your card(If your cash is stolen or lost then it takes a lot of time and energy to get it back, and most off the time you won’t). And, most credit card companies will offer you free (some credit cards require an annual fee)rewards in the form of airline tickets, cash back, free travel and car rental insurance, among other things. All for using their card to spend the money you were going to spend anyways.

Your credit score will be a number between 300 and 850. The score is generated by reviewing your credit history, specifically, how much money you borrow and how well you do at paying that money back. Each time you use a credit card to buy something, you are borrowing that money, and when you pay off your bill, you are paying off your debt. You can check your credit score for free, 3 times per year (one per each credit bureau you choose), and you need to have established some sort of credit for at least 6 months before you will obtain a credit score. Also, by checking your credit score periodically, you know whether or not you have become the victim of identity theft, which is something no one wants to happen.

There are credit cards designed specifically for people with no credit/bad credit. There are student cards that are available to students who have not yet established credit. There are also secured credit cards that require an initial, refundable deposit be put down when you apply for the card. The deposit serves as your credit limit and as you pay off your bill each month you will help improve your credit score. When you close out your account with the credit card company, your initial deposit will be refunded.

Applying for a credit card on Casavvy.com is easy. Just click on the “Apply” button for the card you are interested in, and you will be connected to the credit card vendor’s secure application site. There you can fill out your application in just a few minutes.

After you receive your credit card, it is smart to go online and set up a username account on your card company’s website. This way, you can view all your up-to-date account information and find any contact information you need. There is a phone number printed on the back of your card that you can use to call the credit card company as well.

Payments can be made through the mail, over the phone, or online (most cards allow you to link your credit card account to your checking account so you can make fast, easy payments). You can find all the information about your specific card and payment options by calling the toll-free number on the back of your card or by visiting your credit card’s website

APR, or annual percentage rate, is the interest rate charged to you by the credit card company when you borrow money. You only pay interest on the money you leave on your balance at the end of each billing cycle. If you pay your bill in full each month, you will not be charged any interest. Since the APR formula is based on your interest over an entire year, you take your APR and divide it by 12, then multiply that by the money remaining on your balance, to find the interest you’ll pay that month.

The grace period is the time that the credit card company gives you to pay your bill before any interest is applied to your balance. Most credit cards have a grace period between 10 and 20 days.

Credit card companies offer secured credit cards for people who need to repair their credit score. A secured credit card will require you to make an initial deposit into an account. This deposit will most likely represent your credit limit and will be collected if you default on any of your payments. If you keep up with your payments long enough to repair your credit score, you can then cancel your secured credit card, and your initial deposit will be refunded. 

Yes, most physical bank branches offer online banking that you are probably already using. Online banks offer the same FDIC insurance and security that physical banks have, along with the same security provided through their internet connections.

It usually takes 2 – 3 business days for transferred money to become available in your account.

Yes, online banks will issue you the same type of debit card your physical banks offers. It can be used to purchase things the same way you use your current debit card.

Yes, and in some cases you get even more features. You have the ability to write checks that are linked to your account, you can setup direct deposit, most offer free online bill pay, and some will even mail checks for you and pay the postage as well. Check out the details for each online bank to see these features along with any additional features they offer.

Everything you need to know about your account is online using your username and password. Most likely, you already have an online account with your current bank to manage everything. It works the same with your online bank account.

Interest on the money in your account is calculated daily (allowing you to earn interest on the interest you earned from the day before, also know as compounding interest) on the current amount in it and paid out at the end of each month. By using a credit card instead of your debit card, you only make one payment at the end of each month (instead of having money withdrawn each time you purchase something with your debit card or write a check for), allowing your money can stay in your account longer and earn more interest. Take a look at some common questions about credit cards or look at the credit card products featured onCasavvy.com.

Online banks offer the same 24/7 phone and internet support that physical banks do.

Every bank is different. Some banks require a minimum deposit, while others will let you open a checking account that does not require minimum balance. Refer to each online bank’s checking account details for more information.

APY or annual percentage yield is the amount of interest your account will earn in a year. APY takes into consideration compounding interest, (where the interest you earn is also earning interest). The higher the APY, the more money your account will earn for you.

Yes, most physical bank branches offer online banking that you are probably already using. Online banks offer the same FDIC insurance and security that physical banks have, along with the same security provided through their internet connections.

It usually takes 2 – 3 business days for transferred money to become available in your account.

Yes, online banks will issue you the same type of debit card your physical banks offers. It can be used to purchase things the same way you use your current debit card.

Yes, and in some cases you get even more features. You have the ability to write checks that are linked to your account, you can setup direct deposit, most offer free online bill pay, and some will even mail checks for you and pay the postage as well. Check out the details for each online bank to see these features along with any additional features they offer.

Everything you need to know about your account is online using your username and password. Most likely, you already have an online account with your current bank to manage everything. It works the same with your online bank account.

Interest on the money in your account is calculated daily (allowing you to earn interest on the interest you earned from the day before, also know as compounding interest) on the current amount in it and paid out at the end of each month. By using a credit card instead of your debit card, you only make one payment at the end of each month (instead of having money withdrawn each time you purchase something with your debit card or write a check for), allowing your money can stay in your account longer and earn more interest. Take a look at some common questions about credit cards or look at the credit card products featured onCasavvy.com.

Online banks offer the same 24/7 phone and internet support that physical banks do.

Every bank is different. Some banks require a minimum deposit, while others will let you open a checking account that does not require minimum balance. Refer to each online bank’s checking account details for more information.

APY or annual percentage yield is the amount of interest your account will earn in a year. APY takes into consideration compounding interest, (where the interest you earn is also earning interest). The higher the APY, the more money your account will earn for you.