Credit scores are the latest addition to credit card statements Written by Maryalene LaPonsie February 28, 2014If it doesn't already, your credit card statement may soon contain some new information. Alongside your rewards points, account balance and due date, you may find three more digits: your credit score.
While it used to be you needed to pay $20 or more to check your FICO credit score, major card issuers such as Discover [...]Posted in:Credit Score
Young adults might be trading one financial mistake for another Written by Maryalene LaPonsie August 30, 2013I think everyone agrees starting adult life with a boatload of credit card debt isn't the brightest idea. So, on the face of it, data published by FICO earlier this year seems like a good thing.
The credit scoring agency said in June that more Millennials are skipping credit cards and those with cards are carrying [...]Posted in:Credit Score
To cancel or not to cancel? When to close a credit card account Written by Maryalene LaPonsie May 17, 2013You've paid off your credit card balance and are ready to say hasta la vista to debt. Good for you!
Now, about that credit card, should you close the account or keep it open?
At one time, conventional wisdom may have said to cancel the account as quickly as possible. Then, savvy consumers learned that arbitrarily [...]Posted in:Credit Score
Are you impatient? Your credit score may be suffering Written by Geoff Williams December 23, 2011Impatient people have lower credit scores.
If you think about it, this is pretty self-evident, and if it wasn't obvious to you, it's probably news you could have used before the holiday shopping onslaught, and not after when you're in full-throttle bill paying mode. Nevertheless, a study, which debuts in the January issue of Psychological Science, [...]Posted in:Credit Score
How much will that revolving debt add to the cost of your car? Written by Geoff Williams October 20, 2011Everyone knows that if your credit score goes down, the interest rate on a subsequent loan that you take out will go up. The questions are: by how much will your interest go up, and what moves can you make that will send your credit score dropping?
The answer is easy for that last part. Just [...]Posted in:Credit Score