Have you ever wondered what sort of information in encoded in your credit card number? Well, wonder no more, I have the answer…
The first digit is the system number, and it’s always a 3, 4, 5, or 6. Here’s how it works:
3 = Travel or entertainment cards such as Amex or Diner’s Club
4 = Visa
5 [...]
Have you ever noticed how hard car rental agencies push their damage waiver while you’re standing at the rental counter? The reason for this is that these policies typically come complete with incredible profit margins. What a lot of people don’t know is that many car insurance companies provide rental coverage, especially if the rental [...]
Ever wonder how your credit score is determined? While Fair Isaac (the company responsible for FICO scores) holds the details of their calculation very close to the vest, there are some generalities out there that are good to know. Here’s a quick rundown, as well as an indicaiton of the relative importance of each component:
Payment [...]
If you’ve ever read the fine print of your credit card agreement, then there’s a pretty high likelihood you’ve run across the term “universal default.” But do you actually know what it means?
In short, a universal default clause states that if you’re late on a payment to any creditor and your card issuer finds out [...]
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