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Credit Cards

Tuesday’s need-to-know money news

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Today’s top story: What free college might actually look like. Also in the news: How to get rid of credit card debt by opening another card, how to fix credit report errors, and how to figure out the size of your next stimulus check.

What Free College Might Actually Look Like
Separating fact from fiction.

One Way to Zap Credit Card Debt? Open Another Credit Card
Yes, getting a balance transfer credit card means yet another piece of plastic — only this kind may let you pay down debt over time at 0% interest.

Your Credit Report May Be Wrong — Here’s What to Do About It
Complaints about credit report issues surged in 2020. Here’s how to verify the data that makes up your credit score.

Figure Out the Size of Your Next Stimulus Check With These Calculators
See what you’ll get in the next round of checks.

Q&A: How to keep your lightly used credit cards from closing

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Dear Liz: I had a credit card that didn’t expire until 2024 but the issuer closed my account because it hadn’t been used in a few years. During these difficult times, I didn’t want to get into a lot of debt by using too many cards. The issuer should have let me know this could happen so that I could have used it at least once a year.

Answer: You’re smart not to want to charge your way into debt. If you want to keep a credit card from being closed for inactivity, though, you need to use it — and probably more than once a year.

One way to do so is to charge a recurring cost, such as a streaming video subscription, to the card. You can set up the payment to be automatic as well. You should still review the account’s transactions every month to ensure everything is working as planned and no fraudulent charges have been made. But otherwise, this approach is a low-effort way to keep open your access to credit.

Tuesday’s need-to-know money news

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Today’s top story: Changed travel plans on the menu this Thanksgiving. Also in the news: Online shopping already hit holiday-lvel peaks this year, when you can apply for a credit card after bankruptcy, and how the pandemic has made the racial retirement gap worse.

Changed Travel Plans on the Menu This Thanksgiving
Three in 5 U.S. adults who had Thanksgiving travel plans say these plans have been affected by the pandemic, according to a NerdWallet survey.

Online Shopping Already Hit Holiday-Level Peaks This Year
Shopping looks a little different this year.

When Can I Apply For A Credit Card After Bankruptcy?
Your options are limited.

The pandemic has made the racial retirement gap worse. Here’s how individuals can close it.Closing the racial retirement gap for people of color, even in this pandemic, could begin with broadening access and financial education.

Wednesday’s need-to-know money news

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Today’s top story: Don’t skip these steps when borrowing parent student loans. Also in then news: How to build a home office without breaking the bank, medical student borrowing slows, and the easiest way to lower the interest rate on your credit card.

Don’t Skip These Steps When Borrowing Parent Student Loans
Assess your financial situation and talk openly with your child before borrowing parent student loans.

How to Build a Home Office Without Breaking the Bank
Decide where you’ll invest to make a home office that’s comfortable and productive, as well as affordable.

Med Student Borrowing Slows, but Debt Still an Issue
In the class of 2019, 73% of medical students took out loans; their median debt was $200,000.

The Easiest Way to Lower Your Credit Card Interest Rate
Get ready to spend some time on the phone.

Wednesday’s need-to-know money news

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Today’s top story: 7 Halloween headaches and how insurance can help. Also in the news: Your battle plan for buying a home with a VA loan, what college and student debt changes are likely after the election, and the best credit card for food delivery apps.

7 Halloween Headaches and How Insurance Can Help
What to do when you get tricked.

Your Battle Plan for Buying a Home With a VA Loan
Choose experienced professionals to guide you through the VA loan process, and bring some cash to the table, even if you don’t plan to make a down payment.

Trump vs. Biden: What College and Student Debt Changes Are Likely
What to expect from both candidates.

The Best Credit Cards for Food Delivery Apps
Finding tasty discounts.

Tuesday’s need-to-know money news

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Today’s top story: 5 credit mistakes that can haunt you. Also in the news: The benefits of a renovation refinance, 7 times you might want to product-change a credit card, and why you should name a guardian for your kids right away.

5 Credit Mistakes That Can Haunt You
Some mistakes are much worse than others.

Looking to Fund a Remodel? Consider a Renovation Refinance
Paying for home improvements with a renovation refinance loan has certain advantages — including a potentially lower interest rate.

7 Times You Might Want to Product-Change a Credit Card
Swapping your card, instead of closing it and opening a new one, can help you avoid an annual fee and hard inquiry.

Why You Should Name a Guardian for Your Kids Right Away
Life is unpredictable.