- Could Credit Reporting Changes Boost Your Credit Score?
A good credit score can really go a long way these days, especially if you’re planning on refinancing your home or applying for a mortgage or new car loan in the near future. Having a black mark or two appear on your credit report can work against you and it can be especially frustrating if your… read more…
- What Should You Do When a Loved One Steals Your Identity?
Having your identity stolen can be devastating, especially when the thief racks up thousands of dollars of debt in your name and leaves a trail of unpaid bills that wreck your credit. The only thing worse than the theft itself is finding out that the person behind it all is a close friend or family… read more…
- How Many Credit Scores Do You Really Have?
A good credit score is vital to your financial health, especially if you’re planning on making a major purchase, such as a home or a new car. While most people know that the higher your score is, the better, they may not realize that they actually have more than one. While FICO scores are probably… read more…
- Pros and Cons of Retail Credit Cards for Holiday Shopping
The holiday season is underway and savvy shoppers are on the hunt for all the best deals. One of the ways you can potentially save big is by using a store credit card to purchase some of the items on your list, but there are some pitfalls to consider. While these cards often come with… read more…
- Dos and Don’ts of Using Rewards Points for Holiday Shopping
The holidays will be here before you know it, and the stores are already prepping for the shopping rush. It’s easy to let yourself get carried away when you’re buying gifts for all of the people on your list, but you can potentially save some money by using your credit card rewards to foot some… read more…
- Top 7 Credit Card Mistakes to Avoid This Holiday Season
The holidays are upon us and shoppers are heading out in full force to scoop up deals on everything from toys to clothes to electronics. ‘Tis the season for spending big, and for some, that means using plastic to pay for all the items on their shopping list. There are definitely some advantages to using… read more…
- What Happens When You Default on a Credit Card
Credit cards are part-convenience, part-curse for those who don’t use them wisely. Pulling out the plastic to pay for things you can’t really afford and only paying the minimum each month is the easiest way to land yourself in debt. When the bills grow to the point where you can’t pay, you may be tempted… read more…
- 5 Steps to Repair Credit After a Divorce
Divorce puts a serious strain on your emotions, but there’s also the potential for long-lasting damage to your finances. If you and your former spouse racked up a significant amount of debt together during the marriage, untangling the mess can be a challenge. When you owe credit card bills, car loans or mortgage loans jointly,… read more…
- 6 Things Students Need to Know About Credit Scores
The three-digit number college students are usually most familiar with is their GPA, but there’s another one that’s just as important: your credit score. Good credit is essential if you want to buy a car or a home down the road, so it’s important to start building your score as early as possible. If you’re… read more…
- Proposed Bill Could Raise Consumer Credit Scores
Building a strong credit score is no simple feat, but it may be getting a little easier thanks to a new bill recently proposed in Congress. Dubbed the Fair Credit Reporting Improvement Act of 2014, it would make broad changes in how credit scores are calculated. It follows the Fair Isaac Corporation’s announcement last month… read more…
- Avoiding Credit Cards: What’s the Cost?
Credit cards are out and cash is king, at least among millennials. According to a recent survey, 63% of young adults ages 18 to 29 don’t have any major credit cards at all. That figure reflects the more conservative attitude millennials seem to have when it comes to managing their money. While avoiding credit card… read more…
- 3 Reasons Why You Should Avoid Bad Credit Home Loans
When you’re strapped for cash or you need to borrow money for a big purchase, taking out a loan can help close the gap. Banks and credit unions are great options if you need something short-term with a low interest rate, but it’s hard to get approved if your credit’s not that great. If your… read more…
- How to Choose Your First Credit Card
Credit cards are a convenient way to pay for things and even earn rewards for your purchases. They also come in handy when you’re trying to establish a solid payment history or improve your credit score. If you’ve never had one, you might think that all cards are more or less equal but that’s far… read more…
- Will a Credit Freeze Prevent Identity Theft?
Identity theft has become a hot topic in the news, especially after major retailers like Target and Michael’s were hit by large-scale security breaches. Keeping your personal information safe is more challenging than ever. Identity thieves are using increasingly sophisticated tactics to gain access to your data. Initiating a credit freeze can be an effective… read more…
- 5 Essentials For International Travel With Credit Cards
Summer is over and travel deals abound. Maybe you’re planning a blow-out end-of-the-season international trip before the cold weather arrives. But before you head to the airport, make sure that you’ve completed your credit card prep. What Card is Best For Me? That’s right: Before you travel out of country, you need to take certain… read more…
- FICO Scoring Model Changes Could Boost Your Credit
If you’ve ever been denied for a credit card or loan, you know how important a good credit score is. The higher your score, the better the odds of getting approved and the less you’ll pay in interest on what you borrow. Late payments are usually the biggest score-killer but unpaid medical bills can do… read more…
- How Closing a Credit Card Really Impacts Your Credit Score
You’ve probably heard the common advice for improving your credit score: Pay off as much debt as possible. Pay all your bills on time. Close any credit card account that you’re not using. Well, it might be time to reconsider that last part. Closing unused credit card accounts isn’t nearly as beneficial to your three-digit… read more…
- Avoiding the Dangers of Medical Identity Theft
When you see stories in the news about identity theft they usually revolve around large-scale operations involving millions of victims. But that doesn’t paint the whole picture. Although it hasn’t received as much attention, medical identity theft is quickly becoming one of the most popular ways for criminals to hijack your personal information. 5 Things… read more…
- Top 5 Tips for Fixing Bad Credit After Bankruptcy
Getting out of debt is never easy and for some people, filing bankruptcy is the only light at the end of the tunnel. Nearly 1.1 million Americans filed bankruptcy in 2013, with the majority of cases involving individuals seeking Chapter 7 protection. If you’re being hounded by debt collectors or you simply can’t pay, this… read more…
- Dealing With Debt Collectors? Know Your Rights
Aside from the damage it can cause to your credit, one of the worst consequences of leaving a bill unpaid is the being hounded by a debt collector. While some creditors use an in-house agent to track down outstanding accounts, others will sell the debt for pennies on the dollar to a debt collection agency.… read more…
- 6 Things That Won’t Improve Your Credit Score
Your credit score tells lenders a lot about you, like how well you pay your bills on time and how responsible you are when it comes to managing debt. FICO scores, Beacon scores and Plus scores are all calculated using different criteria and people often have misconceptions about what they are. Knowing what does and… read more…
- 6 Common Credit Myths Explained
If you’re planning to buy a home or apply for a car loan, it helps to know what potential lenders are looking for. Your credit history and credit score play a significant part in determining whether you’ll be approved. Understanding what goes into your report and how your score is calculated can make the process… read more…
- 5 Basic Ways to Ramp Up Your Credit Score
A good credit score is essential to your financial picture. It can get you lower interest rates on your auto loan, mortgage, credit cards, and various other forms of consumer debt – it can also keep your car insurance premiums down, and improve your chances of landing a job. So, if your score isn’t up to snuff,… read more…
- 4 Signs It’s Time to File Bankruptcy
When you’ve gotten in over your head with credit cards or medical bills are piling up, you may think going bankrupt is your only way out. According to the U.S. Court System Administration Office, there were 936,795 bankruptcy filings in 2014, the majority of which were individuals claiming Chapter 7. While going this route allows you… read more…
- 4 Ways to Ruin Your Credit Without Really Trying
When you apply for a loan or a credit card, the first thing lenders look at is your credit score. While it may seem like a small thing, this three-digit number determines whether you get approved for new credit and what kind of interest rates you’ll pay. The higher your number the better, but it… read more…