Improve your credit score, manage debt, and understand how credit works. From credit card usage to debt consolidation and credit repair tips, this section gives you tools to strengthen your financial foundation and regain control of your money.
Despite the high interest rate and borrowing costs, payday loans are attractive to so many borrowers because they don’t have as rigorous of an approval process as regular loans. In fact, all you usually need to get a payday loan is your driver’s license, a recent paystub, and a blank check. Since there are no … Read more
We know that paying bills on time is one of the most important aspects of being financially responsible. If you pay late, you’ll get charged a late fee, you risk having your services terminated (no one wants to be in the dark!), and your credit could be impacted. While payment history is generally the most … Read more
It’s widely known that the FICO score is the score most used by creditors and lenders to approve your credit card, loan, or application. There are possibly hundreds of credit scores out there, so when you check your credit score, especially if you get a free credit score, chances are you’re not getting the FICO … Read more
Young people may never pay off their credit card debt. That’s the hypothesis that experts and reporters have made based on a recent study by an Ohio State economics professor. The study found that the younger generation of borrowers, those born between 1980 and 1984, has $5,500 more in credit card debt than their parents’ … Read more
You probably wouldn’t imagine something as simple as an unreturned library book or movie would hurt your credit. After all, you only kept the books out a few days past the date. But, libraries around the country are turning to collection agencies to handle fines that patrons neglect to pay. You probably already know how … Read more
About 80% of consumers still aren’t checking their credit reports. According to a report from the Consumer Financial Protection Bureau only about 44 million of 200 million consumers checked their credit report in 2010 and 2011. Ordering a free credit report is fairly simple through AnnualCreditReport.com, the site setup by the three major credit bureaus … Read more
It’s quite common to hear about collection agencies scheming against consumers. Numerous collection agencies have been reprimanded, fined, or shut down by Federal agencies for collecting nonexistent debts from consumers, for charging consumers more than what they owe, or going outside the law to collect even legitimate debts. In a slight twist, one large collection … Read more
Anyone who’s ever had an application turned down due to bad credit knows the importance of having a good credit score. Unfortunately, turning a bad credit score into a good one can take several years, especially since you have to wait out the credit reporting time limit. Some people may turn to credit repair services … Read more
Of all the financial-related things consumers are concerned about – making ends meet, saving for retirement, putting money away for kids’ college – the biggest worry is credit card debt, according to a survey from FICO, creator of the well-known credit score. Federal statistics, however, show that the amount of credit card debt has steadily … Read more
If you’ve checked your credit reports – hopefully you have – then you know that a variety of accounts are reported to the credit bureaus each month. Credit reports include credit cards, mortgage (if you own a house), auto loan (if you’ve borrowed money to purchase a car), student loans, or possibly even debt collections. … Read more
