CREDIT CARDS » Credit Card Rates

Linking your credit card to your bank account can help save you lots of time and money. By linking the accounts it will enable you to pay your credit card bills automatically every pay cycle. This is especially helpful for people who are forgetful and end up having miss payments and late charges - which ultimately is bad for your credit score.

In order to link your credit card to your bank account, you need to have an online credit card account. If you have a credit card but don't have the online account set up yet - you can set up a new online credit card account by going to the credit card company's web page and set up the account there . Once you've logged on to your online credit card account, you should find a link that asks for your banking information. Generally, you will find this on the make a payment option - where there will be a list of payment options. One of which will include automatic payment. When you click on this option you should be brought to a page that asks you for your banking information and a confirmation that you authorize the credit card to automatically withdraw money from your bank account every billing cycle. Make sure you follow the specific instructions that the form asks. When you are done with the form and submit - you should receive a confirmation email stating that your submission was successful. If you don't receive the confirmation letter and have difficulty setting up this type of payment, you can also call the CSR to help you. After you've set up the automatic payment, you don't have to worry about miss payments anymore - just be sure there are enough funds in your bank account to cover the credit card bill. And never forget to check in on your account now and again to make sure everything is going accordingly.

Now that you know how easy it is to set up automatic payment for your credit card - what are you waiting for? Do it!

If you're a parent who is thinking about giving your teenager the responsibility of having a credit card, there are questions you may want to consider about your teen before allow that responsibility. Credit cards are quite notorious instruments for self-indulgence, and the number one source of personal debt in the nation. You, yourself may have had an experience or two indulging yourself and racking up the credit card balance since it's that easy. However, using your credit card responsibly can help make wonders when you finance Big Ticket Items (i.e. house, car, business, etc.) since it helps to increase your credit score. But oftentimes, many adults have an extremely difficult time from refraining themselves from using plastic to fulfill their indulgences - whatever it may be. As hard as it is for adults, in the hands of a teenager there could be even more problems if ill advised and there is lack of self control.

Adolescence is a time for growing up and growing pains, and if you're a parent who's wondering whether you should give your teenager a credit card or not, the age and maturity is clearly going to be a big factor in your decision. Is your son a hard-worker? Does your daughter help out around the house? Is she eager to get her first job, because she can't wait to have the freedom to buy the clothes she wants? Or is your son the opposite of resourceful and self-sufficient, and just wants to hang out with his friends? When it comes to questions of responsibility - and that's what a teenager with a credit card boils down to - you've got to take a long hard look at your teen and make a character call. This is especially true if you end up being the co-signer in order to obtain the credit card in the first place - say if Junior racks up thousands of dollars in charges and can't pay for them, guess who will have to pick up the tab? It would be YOU.

If your decision is to teach your teen the importance of self control and being financially responsible - a good rule of thumb is to allow a small line of credit in your teen's name. The preferrable credit line would be the amount you would be able to afford to pay off yourself should your teen cannot control his or her spending habits and cannot pay off the amount. This way, you control your teen's spending and at the same time teach them the importance of being financially responsible.

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