The average American carries about 8 different credit cards in his pocket. That adds up to a serious bulge that can be uncomfortable on any budget. It may seem like a financially savvy idea to find some scissors and get to work, but you should probably think twice before doing so. Before [...]
Archive for category Credit
With the United States steeped in its worse recession since the 1930s, credit worries everyone with a wallet or pocketbook. Increasing layoffs, declining benefits and escalating co-pays, and depressed investments have everybody concerned, and many people are beginning to wonder how they will afford their bills. Swiping that credit card loses its universal appeal as [...]
Have you wrung yourself silly trying to figure out your FICO score? Measuring your credit can be extremely stressful, especially if you are saving to buy a home, car or other major purpose. Credit can seem to rule your life, especially if it’s bad. No good job is as good as it can get when you’ve got a FICO score that’s bottomed out to the basement.
Credit reports aren’t always accurate. In fact, you might even find out from your credit report that you’re dead, owe on credit cards you never heard of, or default on loans you never took out. While such serious errors are rare, they do happen. Less serious accuracies are more common, however. While not as earth shattering, they may affect your credit badly.
Having lines of credit is essential to building up your FICO score. Using credit cards responsibly shows lenders and future creditors that you are trust-worthy and deserve to get good interest rates and payment plans on your loans. But, as most of us know, having credit cards can also be disastrous if you use them irresponsibly.
Nobody likes late payment fees. They might not seem like much individually, but they add up quickly and can deal a serious blow to your account if you let them pile up. If you take all the late payment fees you’ve incurred on your credit card for the past two years, you’d [...]
How do I repair my credit? This has become an increasingly common question among American consumers today. Over 30 million people in the U.S. possess credit scores below 620. Bad credit makes it harder to get loans and good interest rates on large purchases.
