Finance Globe

U.S. financial and economic topics from several finance writers.

How to Build a Good Credit Score Without Racking Up Credit Card Debt

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Many people have made the mistake of thinking building a good credit score requires that you go into debt, but that's not actually true. Unfortunately, charging up high balances in an attempt to build your credit score can backfire. If you ever fall behind on a payment or two, you can wind up with worse credit and a mound of debt that takes years to pay back.While borrowing money is part of building credit - after...
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Getting Your Credit Back on Track After Bankruptcy

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Filing bankruptcy can affect your credit more than almost anything else, but that doesn't mean you should avoid bankruptcy if it's the best solution to get your finances back on track. Bankruptcy can be the perfect opportunity to start over and rebuild your credit. Here's how you can do it.Make sure your bankruptcy is reported correctly.Order copies of all three of your credit reports. You can use AnnualCreditReport.com if you haven't already received a free credit...
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Frank
Very helpful information! I hope everyone can get back on track from bankruptcy.
Thursday, 31 October 2019 10:06
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Why Debt Collectors Check Your Credit Report

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Debt collectors do several things to try and collect debts from you. If you've ever had an account in collections, then you're already aware of the phone calls, letters, and placing the debt on your credit report. They also pull your credit report to get more information on you.Unlike most other businesses, debt collectors don't have to ask for your permission before they check your credit report. Credit reporting law automatically allows collectors to check your...
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Frank
debt collectors can be the absolute worst, keep an eye on them!
Thursday, 31 October 2019 10:07
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What Things Can Make Your Credit Score Drop

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Your credit score is an important number to keep up with, especially if you have a major loan coming up. For example, if you're planning to buy a house or car in the next few months, your credit score affects whether you're approved for a loan and the terms. Your credit score also impacts whether you have to pay a security deposit when you apply for utilities and similar services.Credit scores go up and down based...
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Recent Comments
Wanderer
This writing covers well the factors of credit. Would add that there are many schools of thought on closing accounts ranging from ... Read More
Thursday, 15 August 2019 20:12
Frank
I agree that accounts for the most part should not be closed.
Wednesday, 28 August 2019 11:00
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How Long is Debt Valid?

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If you're dealing with multiple debts on your credit report or you're getting calls and letters from debt collectors, you may wonder if the debt is still valid. Debts generally don't "go away" just because they get older. However, older debts do reach a period where they should no longer affect you or your credit.There's a one time limit that a debt can be listed on your credit report and another for the amount of time...
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Wanderer
Learned a lot in this Blog! WOW! Reminds me of "tip toeing through the tulips" as you need to be ever so careful! Many legals to w... Read More
Saturday, 10 August 2019 07:00
Frank
I had no idea debt was valid for this long! Great information!!
Monday, 26 August 2019 13:37
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Three Things You Should Do When You Suspect Identity Theft

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A suspicious charge on your credit card. Calls from collectors about accounts you didn't know of. Alerts of new inquiries on your credit report. These can all be signs that someone has stolen your identity. Confirming identity theft can take time. But if you think someone may be using your personal information, you want to prevent them from leaving more damage for you to clean up. Here's what you should do if you think your identity...
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Frank
credit monitoring is a must. It doesn't 100% protect you, but it definitely helps limit your risk and your downside.
Monday, 26 August 2019 13:37
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Five Benefits of Becoming Debt-Free

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Paying off a large amount of debt takes a lot of sacrifice. You have to cut back your spending and sometimes get creative about making more money. Even though it can be stressful and frustrating, the benefits of paying off your debt are worth it.You’ll save money in the long run.The longer you carry debt, the more you’ll pay in interest. Paying off your debt faster lets you save thousands of dollars in interest, especially when...
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Frank
I can't tell you how good of a feeling it is to be debt free. Beyond the financial flexibility, you will feel as though a huge wei... Read More
Monday, 26 August 2019 13:25
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5 Things to Know About Building Credit for the First Time

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Building credit for the first time can be both exciting and stressful. On the plus side, you’re ready to take this big step in your financial life. Conversely, you have some concerns about the moves you’re making and the short and long-term impact.Here are five things to know about building credit for the first time:1. It’s Every Bit as Important as it SoundsDon’t talk yourself into thinking this isn’t important. Even if you don’t need a...
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Types of Student Loan Debt

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If you need to borrow for your college or post college expenses, you should know what borrowing options are available to you. Generally there are two major sources of student loans. Federal and private loans are available to individuals, however federal student loans are much more common. There are also advantages and disadvantages to each, so please make sure you research before selecting your borrowing option. However it is important to note that no matter what...
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What Consumers Need to Know About Point-of-Sale Loans

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It's normal for retailers to pitch credit cards to shoppers during checkout. The pitch usually comes with an incentive - like a discount on the initial purchase. More retailers are offering a new payment option for consumers: point-of-sale loans. Customers are offered the loans both in-store and online at checkout.Point-of-sale loans are often offered for big ticket items. With the ease of lending, the loans are also offered for online purchases regardless of price. The loan...
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Wanderer
Good information as I had not heard of such loans. Now if I get approached on them I will take time to consider and read the fine ... Read More
Thursday, 20 June 2019 12:38
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