I'm thinking of getting a credit card -is it worth it? I'm 22, in the UK and thinking about getting a credit card -I don't feel I need one (not a big or enthusiastic spender) apart from establishing a credit rating -is it worth it? I understand the benefits -insurance, cash-back etc but it seems like a hassle -I'm perfectly happy just spending money that I have using my debit card. However, as credit scores are partly based on duration of credit history I'm thinking I should get a credit card if only to prove to future mortgage providers (perhaps 3 or so years in the future) that I'm responsible with credit etc.

One of my boyfriend's student loans just got turned over to a collection agency. How bad is this? He's a graduate student and has several student loans. He's always been prompt with payments, including slowly paying off the principal. He assumed that this loan would be automatically deferred since he's still a graduate student, just like his other student loans. He even called them a few months ago and then they told him that the deferment was taken care of. Now, without any warning, they've turned it over to a collection agency. He never received an email, a letter or a phone call before this happened.

I am using extra student loan money at 6.8% (mostly unsubsidized) interest rate to pay off my credit cards (about 25K) worth. What should I do when I get a bunch of other cash? Pay off loans or invest? I will soon be getting $5K cash and will probably get some additional money for freelance jobs, while I am in grad school (MBA). My wife and I would like to buy a house at some point in the next few years. So what do I do with the cash? Invest it (I typically return about 20% yearly on individual stocks...obviously riskier so maybe index fund?) Put it in a high yield savings account? Other thoughts?

I am using extra student loan money at 6.8% (mostly unsubsidized) interest rate to pay off my credit cards (about 25K) worth. What should I do when I get a bunch of other cash? Pay off loans or invest? I will soon be getting $5K cash and will probably get some additional money for freelance jobs, while I am in grad school (MBA). My wife and I would like to buy a house at some point in the next few years. So what do I do with the cash? Invest it (I typically return about 20% yearly on individual stocks...obviously riskier so maybe index fund?) Put it in a high yield savings account? Other thoughts?

We found an unauthorized charge of about $1,000 on our Visa statement -- from seven months ago (groan). What's our best plan for recovering these funds? Today I was reviewing last year's purchases -- scanning for 2006 deductible items -- when I noticed a charge of more than $1k to a WalMart in Kentucky in August last year. There's no way that's ours. So you'd think we'd notice such a large charge on our credit card, but we put everything, including frequent business travel, on this credit card each month. We scan the bills each month...and...somehow...this one line item escaped us. (Our monthly bill varies from between $3,000 and $7,000 each month, so the total was no surprise.)

I've paid off all my credit cards.... now what? Over the past 6 months. I have managed to zero out the balances of all my CC's down from 10k. Any help as to how long before this gets reflected in my credit score, and what if any tips you have for boosting that score. If it helps, I'm keeping the lines open, and use them sporadically for small item purchases. Thanks in Advance. It is certainly a great day when you look online and see all zeros in the cc balances. --Credit Debt Free

Like most Americans, my wife and I are struggling with debts. I thought of a great way to eliminate them, but my wife does not agree. What do you think? Well, my method is very unconventional, and takes A LOT of willpower on our part. We have about six or seven credit cards, which are all maxed out. What I plan to do is to of course, write down everything we owe, when it is due and keep basic track of things. From this, we can glean some kind of budget. Using the budget, my plan is to take all of the budgeted amounts and place it towards our credit card debt.

Like most Americans, my wife and I are struggling with debts. I thought of a great way to eliminate them, but my wife does not agree. What do you think? Well, my method is very unconventional, and takes A LOT of willpower on our part. We have about six or seven credit cards, which are all maxed out. What I plan to do is to of course, write down everything we owe, when it is due and keep basic track of things. From this, we can glean some kind of budget. Using the budget, my plan is to take all of the budgeted amounts and place it towards our credit card debt.