Credit scores are the latest addition to credit card statements Written by Maryalene LaPonsieIf 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 [...]
Young adults might be trading one financial mistake for another Written by Maryalene LaPonsieI 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 [...]
To cancel or not to cancel? When to close a credit card account Written by Maryalene LaPonsieYou'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 [...]
Are you impatient? Your credit score may be suffering Written by Geoff WilliamsImpatient 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, [...]
How much will that revolving debt add to the cost of your car? Written by Geoff WilliamsEveryone 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 [...]
Denied for the best credit card? Lenders now required to say why Written by Geoff WilliamsWhen is good news also bad news?
Starting July 21, it will be easier for consumers to get a free credit score. Because of a new law, you may just get, in the mail, with no strings attached, your very own credit score. That's the good news.
But the bad news is that if you get that [...]
The Truth About Credit Card Debt Settlement Written by Curtis ArnoldAs an increasing number of people struggle to pay their bills, debt settlement companies are thriving. You can find their ads promising to settle your debts for pennies on the dollar anywhere.
If you’re drowning in debt, those ads can be pretty attractive. But are they for real? And how will settlement affect your credit [...]
Re-thinking Credit Card Choices Written by Mike KillianExceptional times often require exceptional measures to deal with events. No one doubts or questions the seriousness of our economy. Consumers are cutting spending and shedding debt whenever and wherever possible. The commercial market place is affected by this trend. What does this mean for consumers in return? What credit cards should they be considering? [...]
Benefits of Secured Credit Cards Written by Curtis ArnoldAn excerpt from How YOU Can Profit from Credit Cards: Using Credit to Improve Your Financial Life and Bottom Line.
A secured card is often the best answer if you can't get a traditional card. Secured cards are accepted wherever credit cards can be used, and certainly come in handy for emergencies and for transactions when [...]
Altenative Credit Scores Provide Hope for Millions Written by Shane TripconyI would like to share some good news for the estimated 50 million consumers that have no credit rating or a limited credit history. There is now a viable option for establishing credit outside of the traditional avenues. The National Credit Reporting Association (NCRA)--a trade group representing small regional credit agencies--in combination with an organization [...]