You already know about bonus travel miles and cash back rewards, but some credit card benefits stretch well beyond instant savings on a vacation getaway. Many credit cards include purchasing safeguards that protect against anything from rental car insurance to extended warranties. If you can't find your credit card policy or if you're confused by the jargon, call your bank or credit card provider to ask about the benefits you're entitled to. Taking the time to understand your credit card protection plan might determine when you use credit or cash on your next big purchase.

The bad news: you're up to your knuckles in debt. The good news: you can get out of debt. The better news: you don't have to destroy your credit cards! The slightly worse news: you still can't really use them.

‘Credit or Debit?’ You’re used to hearing this question when checking out at the grocery store, but have you ever stopped to think about what your choice means in terms of your financial security?

Dear Creditnet: I'm thinking about applying for a new hotel rewards credit card, but I already have two other cards with high limits. One card has a $34,000 limit, and I don't even use it. Before applying for the new card, should I ask to have this account closed or the credit limit reduced to the minimum? I don't want to have my credit score dinged too bad by having a new card.

Despite a great deal of opposition from big-business lobbyists and right-wing politicians, the Consumer Financial Protection Agency (CFPA) has moved one step closer to seeing the light of day. The House Financial Services Committee, led by Chairman Barney Frank (D-Mass.), approved the CFPA's creation last Thursday and will now send the bill on to the full House.  And while the legislation is definitely a more watered-down version than others introduced earlier this year, its supporters, including President Obama, seem quite pleased with the progress so far.