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.
In the ideal car buying scenario, the value of your car would always exceed your outstanding loan balance. However, sometimes the opposite can happen and you owe more on your car than your car is actually worth – a situation that’s referred to as being upside down on your loan. For example, if your … Read more
When you’re checking your credit report, one of the things to watch for is that all your information is complete and accurate. But, if you notice an account missing from your credit report, you could be concerned, especially if it’s an account with a positive payment. These are a few explanations for why an account … Read more
Any time you make an application that requires a credit check, an inquiry is added to your credit report. These inquiries are factored into your credit score for the next 12 months, which means each application has the potential to hurt your credit score for up to a year. Inquiries vs. Other Credit Score … Read more
Getting out of debt is nowhere as easy as it is getting into debt. Many people start out their debt journey by putting a little bit of extra toward all their debts. Even though you may be spending putting a lot of money toward your overall balance, you may not see much progress. That’s discouraging. Having … Read more
Since it was created, the FICO score has been based only on consumer credit history. The score uses past credit information that’s compiled by major credit bureaus to calculate a credit score that predicts a consumer’s likelihood of defaulting on a new credit or loan obligation. Next January, FICO plans to release the UltraFICO score, a … Read more
There may come a point when you realize you’re unable to pay a creditor in full. While you could default, it’s much better to contact your creditor with the idea of negotiating your debt. As scary as it may be to make this call, once you’re on the right track you’ll realize that it’s not … Read more
Placing a security freeze on your credit report is one of the best ways to protect yourself from identity theft and thanks to changes in federal law, you can now do it for free. What is a Credit Report Freeze? Freezing your credit report locks it to new inquiries. Businesses that use credit information in … Read more
Bankruptcy has the stigma of ending your financial life, but if you’ve been struggling with debt for months, or even years, bankruptcy can give you the fresh start you need to get back on your feet. Once your debts are wiped out in bankruptcy, it’s what you do next that determines your future financial success. Make sure … Read more
Your credit report has a major influence on your life. The information in your credit report is used for everything from your home purchase to getting a new cell phone to car insurance and even employment. A 2013, FTC report showed that one in five consumers has a credit report error. Sometimes errors are enough … Read more
This might be common knowledge to many, but there are people who have asked me what the differences are in debit cards and credit cards. Also if you want to teach your kids, below can be a reference guide to discuss the differences between a debit card and a credit card. Debit cards look and … Read more
