Often times, you see words or phrases on student credit card offers that may not make a lot of sense or seem misleading. Check out the terms I’ve outlined below and discover what some of the more common snippets actually mean:

cash advance – A cash advance is when you use your credit card like checking account, and withdraw money from it. You usually have to set up a special PIN number for this, and can do it at most ATMs. I highly recommend never doing this because the money you withdraw has a much higher interest rate on it than simply charging whatever you are buying. For

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Difficulties with being able to pay off credit card debt continue to be an issue with some consumers, according to a recent report from Moody’s Investors Services.

The firm noted that the number of defaulted credit card accounts increased to 11.15 percent during January, which marks a percentage point climb of 0.83. Given forecasts for unemployment, Moody’s said it expects the charge-off rate to hit a high of 12 percent in the coming months.

Though the number of charge offs did increase during the first month of the year, the report from Moody’s did have a positive note about early-stage delinquencies, which are often a harbinger of later defaults. Read more…

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Despite a decrease in debt, the number of credit card delinquencies grew in the fourth quarter.

A recent release by credit bureau TransUnion showed that states hit hardest by the housing crisis, like Florida and Nevada, also had the largest percentage of consumers falling behind on their credit card payments. The overall number of borrowers 90 days or more delinquent on one or more of their credit cards grew to 1.21 percent, a 10 percent percent increase compared to the third quarter.

The average credit card debt fell by 3.18 percent to $5,434, from the previous quarter’s $5,612. Alaska, Tennessee and Alabama reported the highest levels of average credit card debt, while Iowa, North Dakota and West Virginia ranked lowest. Read more…

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If you carry a balance on your credit card from month to month and are looking for a way to save money on interest payments, you might be interested in balance transfer credit cards. The idea is simple enough. You get an introductory offer with low interest on balance transfers, and that gives you time to pay down your balance while saving money on interest. How can you find the best balance transfer credit card for your needs though?

Here are several factors you should consider when comparing balance transfer cards:

1. Balance Transfer Rates

The balance transfer rate (usually a temporary introductory offer) can be a lower rate than you’re paying now, or even 0% interest. N

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I was watching the Winter Olympics this evening when a Visa commercial popped up, claiming it was the only payment card accepted at the Vancouver games.

This seemed a bit strange, as it would make life difficult for those holding MasterCard and American Express credit cards, not to mention out-of-towners and their random assortment of credit and debit cards.

But low and behold, it really is true, not just a marketing gimmick.

Visa has an exclusivity agreement with the Olympic Games to be the sole payment card provider accepted.

That means only Visa credit, debit, and prepaid cards or cash can be used to purchase Olympic tickets, official merchandise, and/or food and beverages in the Olympic venues.

The same goes for the official Vancouver Olympics store, which states, “In recognition of Visa’s long-standing support of the Olympic and Paralympic Games, we proudly accept only Visa cards on vancouver2010.com.”

Visa also created and manages the entire payment system infrastructure and network throughout the Olympic venues, so looks like they’re the boss.

It’s a bit surprising for Visa to shut out the other card issuers like this, but that’s competition for you.

Just unfortunate for the many visitors that will need to travel around with wads of cash, which could prove to be a boon for area pickpockets.

Oh, and the merchants that will lose out on all those would-be sales…

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