Here’s what affects your Fair Isaac Corporation Score or commonly known as FICO Score: 33.3% of American non-credit and credit holders do not know their credit score. Did you know that having both of credit cards/any revolving debts and installment debts can actually help you get your highest possible credit score? Having a high credit score…
Here are some credit facts you should know: Author of The Everything Improve Your Credit Card Book, Pritchard, Justin said that an average American has: 13 credit accounts (9 credit cards, 4 installment loans). Those who do not have credit cards will not have a credit or FICO score. Bill Fair, an engineer and Earl Isaac,…
As a rite of passage in today’s society, we are all expected to own our own homes; anything less is often seen as a failure by others including our own family members. Rooming with friends, living with your parents, or renting an apartment means that you haven’t matured enough, your job isn’t good enough or…
If you are in debt, you may want to reconsider bankruptcy by choosing a qualified low-fee debt negotiator to act on your behalf. Sometimes you might end up going too far and may have to consider filing for bankruptcy. This is the time for credit card debt negotiation. There are many debt negotiators out there,…
If debt collectors are harassing you more than you think they should, you could be right. The Fair Debt Collection Practices Act was created by the U.S. government because debt collection practices were getting out of hand and reputable debt collection firms were beginning to resort to criminal behavior to collect debts owed. Consumers were…
When you have an outstanding debt with a credit card company, they’ll sometimes sell this debt to a collection agency or hold the debt but pay a collection agency to attempt to collect. Not only will this hurt your credit, but it brings unwanted collectors that want you to pay up. Collectors tend to work…
Credit is a funny game. A good bit of your credit score does not come down to how much you owe as how you categorize it. This is particularly true with credit cards. Whatever you do, avoid maxing one out unless you don’t mind seeing your credit score take a ding. The credit-to-debt ratio is…
Sometimes you can’t just avoid going over the limit due to some unforeseen reasons. However, if you are staying close to the top of your limit and regularly exceed to your credit card limit, your credit worthiness definitely will suffer. Plus, you will likely be paying more to use credit now and in the future. You…
Get a personal loan. For your credit card payout, there is an interest of at least 22% being levied on you (this differs from card to card but this is the minimal interest rate). An unsecured personal loan carries an interest of 14-16% which is a cool 6-8% lesser than what you are paying for…
If you’ve been affected by the Heartbleed Bug, there’s a chance your financial accounts are in potential danger. There are a few things you can do to help minimize the damage, though. First, always run updated anti-virus and anti-malware software on your computer. Second, don’t use public computers or Wi-Fi to use your financial accounts;…