Good credit, like experience, is one of those things that you have to build, and it comes with age. Not your calendar age, per se, but the age of your credit history. As college students navigate their way into adulthood, an important thing for them to establish and maintain is good credit. Credit, good—or bad— affects all of our lives in many ways.
Articles tagged 'credit'
Does Your Credit Card Debt Outweigh Your Rainy Day Fund? Steps to Minimize Debt and Increase Savings
Nearly a quarter of Americans admit to having more in credit card debt than in an emergency savings fund, according to Bankrate's 2013 February Financial Security Index. Are you in the one-fourth of Americans whose credit card debt outweighs your emergency savings? Often, you will need to pay off high interest debt, like credit card debt, before you’re able to save toward a rainy day fund.
Keeping your finances on track can seem like a tedious task, but it’s one of the most important things you can do for yourself, particularly since there are so many ways for the bad guys to get hold of your account information and potentially ruin your credit. Credit card fraud is one of the most prevalent ways that people fall victim to thieves.
My life is consistently 1 to 5 percent cheaper because I use credit cards. For many, credit cards evoke negative emotions. We all have heard it, “Credit cards are evil.” And we’ve seen the torrent of people abandoning credit cards in fear of debt. Their fear is not baseless; banks want to make money, and they can be clever about it. Some people fall into the trap, but avoiding the trap can be simple. Let me tell you how.
Buying presents for loved ones is the perfect excuse for charging large amounts on your credit cards, right? Wrong! When it comes to using credit for holiday purchases, it’s best to assess what you can realistically afford to spend before you start shopping.
Even if your credit score has taken a hit, a few key moves can help bring it back — and help you get better rates on a mortgage, credit cards, car loans, and even your car insurance.
I want to start a group called Credit Card Users Anonymous.
You may or may not prefer to use credit cards for many of your purchases, but if you do use them, even occasionally, you might want to consider looking into cards that offer rewards.
Credit card promotions that offer super low interest rates can be tempting. But unless you read the fine print, you could be hit by hidden fees or unexpected rate increases. Learn how to take advantage of low rates while avoiding these credit card traps.
A few years ago, I was the victim of what could have been a very costly identify theft. Fortunately though, because I manage many of my personal accounts online, I take precautions to keep identity theft from occuring. Specifically, I monitor my accounts closely and frequently.
A home equity loan allows you to use your home’s value to pay for something else, and it can be a great alternative to making a major purchase on a credit card or taking out another kind of loan.
Borrowing money, even a small amount, puts our financial future at stake. After all, we are agreeing to owe money for some period of time into the future.
If you’re like many Americans, by early November (or even as soon as the trick-or-treaters go back home on Halloween), you start to get excited about Thanksgiving.
Your credit score can make a huge difference in your finances, even if you aren’t about to buy a house. A good score can save hundreds of dollars on your auto insurance premiums, credit card interest rates and auto loan, in addition to your mortgage.
The unexpected car repair. The phone bill for texting a little (or a lot) more than you thought you did. The rent that came due before you were ready. We’ve all experienced a financial moment or two we weren’t prepared for and had to think about our options.
FICO is a publicly-traded corporation that created the most widely used credit score model in the
Establishing a financial record is important for a number of reasons, but in particular, it shows all those who need or want to know (e.g. a future landlord or a mortgage lender), how well you manage money and how large a financial risk you may be.
A home equity line of credit provides a way for you to use your home’s value to pay for other things, and it can be a great alternative to other kinds of loans or making major purchases on credit cards.
Of course, since a home equity line of credit is borrowed against your home, it decreases your equity and increases what you owe on your home, which is probably one of your largest and most important assets. Before taking a home equity line of credit, it’s a good idea to talk with a loan professional or your financial advisor.
A credit card with a fixed rate or fixed annual percentage rate (APR) will not change throughout the year.
We’d all like to be debt-free, but for most of us that would take a very long time and a lot of discipline. But even while we continue to diligently pay the bills each month, we can change the way we pay off each of our different debts.
It’s New Year’s Eve and time to plan for the upcoming year. I decided to set some credit card goals for myself to get on the good foot — and maybe even develop a mantra to help.
I scored big this Christmas. I got something that I’ve wanted for years, but could never bring myself to buy: an authentic Coach bag. Problem is, I’m afraid to use it because I don’t want it to get scuffed up and dirty — or even touched by other people. Silly?