A lot of people, myself included, can trace years of indebtedness back to that first student credit card. After all, wielding credit cards when you’re 20 years old with limited or no income is a dangerous game. That said, student credit cards do serve a purpose: They help you build the credit history you’ll need later in life to get an auto loan or a mortgage. If you’re a full-time college student, only consider applying for a student credit card if you understand that you’re using the card to build credit—not earn rewards or borrow money. [...]

A reader working to qualify for a mortgage writes: “I have checked my credit with the three bureaus, and they seem to have all my info up to date and everything looks good. My problem is that on the free credit reports I received (via annualcreditreport.com), I can see everything except my FICO score. Before I go see another mortgage guy, I want to make sure my FICO score is at least half decent. I am willing to pay a nominal fee each time I see it, but I certainly do not want to be involved in monthly credit monitoring programs, which is what everyone wants to sell me.” [...]

Should you ever go into debt even if you have the cash to make the purchase? Dave Ramsey would definitely say “NO!”. But believe it or not, there are situations in which it may actually cost you more if you don’t go into debt! [...]

Worried federal regulations will force card issuers to slash rewards and loyalty programs? Citi is bucking the trend with its Citi Private Pass program. Private Pass gives Citi cardmembers significantly discounted (and sometimes even free) tickets to a wide range events including some of the hottest concerts and sporting events. For example, through August 31st, Citi and Live Nation are offering Citi cardmambers lawn seats to some of the summer’s hottest concerts for just $5. [...]

This year’s credit card reform laws will deliver consumers long-overdue protections from dubious industry practices. But don’t breathe a sigh of relief just yet. The credit card companies, already reeling from a year of record losses, will find new ways to make credit card users pay. Here’s what you need to know to take advantage of the upcoming credit card industry changes and how to avoid letting the industry take advantage of you! [...]

Mortgages are complicated. Looking to swap one mortgage for another by refinancing? They get even trickier. So it pays to understand how the mortgage refinance process works and when refinancing is a good idea (and when it’s not) early in life. That is, even before you buy your first home. [...]

I can’t imagine life without a checking account. But millions of Americans don’t use direct deposit, write checks, or use a debit card. Some because they’d prefer not to. And some because they can’t. For those that can’t have a checking account, chances are they bounced one too many checks and are flagged in ChexSystems—the “credit bureau” for checking accounts. What is ChexSystems? And why does it matter? [...]

We saw it coming. Last month Congress and President Obama changed the rules for credit cards by signing the CARD Act into law. A few weeks later, the credit card companies are already responding by increasing interest rates on existing customers. Have you been hit with a rate jacking in the last month? Please share your story in a comment. Here are a couple examples I’ve already seen. [...]

Everybody I know that has bought or will soon be buying a home spends countless hours searching for the perfect home. Few, if any, spend much time searching for the perfect mortgage. Make no mistake; finding the right first home is important. But your dream home could be for naught if you end up in a less-than-ideal mortgage. If you’re in the market to buy your first home, make sure you master the art of how to find the best mortgage for you before you set foot in your first open house. [...]

I am absolutely fascinated by the role of credit cards in today’s recession, the new credit card laws, and how both will transform the role of credit in our lives. As somebody who got way over his head by using credit cards irresponsibly in my early twenties, I’m thrilled that following in my footsteps may not be so easy for future generations. I worry, however, that if the pendulum swings too far in the other direction, difficulty in obtaining credit cards may continue to stifle both the overall economy and young Americans’ ability to become homeowners, start businesses, and build our dreams. [...]