I think we all know that credit is important. Knowing what credit is, how your score is created, the variations among the credit factors that lenders examine, and the fairly recent progress in consumer credit report access will make you a more informed consumer who can use her credit wisely.Read More
Real talk: Paying for medical care is stressful and expensive. Even if you are fortunate enough to have insurance through your employer, coming up with co-pays on top of the premiums can make your budget, or your savings, cry. When you pay for an individual insurance plan, the situation often becomes more stressful.Read More
So, you are interested in building your credit history, but not sure where to start. Here are a few simple ways to begin building your credit. Always make sure that any credit you decide to use fits within your budget, especially if you choose to take out a loan.Read More
Credit often feels like a mysterious and treacherous aspect of personal finance when you are young and/or just beginning your money management journey. Despite its reputation, credit is a tool that with responsible use will improve your financial standing. Before you embark on the journey of seeking credit, it is important to know how credit and credit scores work so you don’t accidentally end up in hot financial water.Read More
I have noticed a lot of what I consider bad advice regarding closing credit cards to save an annual fee associated with some credit cards.
The FICO scoring model subtracts points every time you open or close a revolving credit account.
The longer a revolving account is open; the FICO scoring model rewards you with more points.
A revolving account is considered an account with a pre-approved credit limit determined by the credit grantor that a consumer makes payments on the balance of the credit used during the month.Read More