You’ve been diligent about paying your bills on time, took steps to clean up your credit report of errors, and have even paid down your credit card balances. Now for your reward. Having a high credit score and good credit history can set you up for many perks and low-interest loans and offers in the […]
Answer: It certainly can, depending on how much of it you use and specifically when your account balance is reported to credit bureaus. What is a Credit Limit? Your credit limit is the maximum amount you can borrow. If you have a credit card, you can spend up to your credit limit. The same is true for other loans, such […]
It’s so easy for credit card debt to get out of control One day you’re happily swiping your credit card, buying things you’ve always wanted, taking trips to places you’ve always wanted to visit. The next thing you know your cards are all maxed out and you can’t quite remember how it happened. There’s no […]
“Charge off” means that the credit grantor wrote your account off of their receivables as a loss because your initial loan was an asset to the creditor. When an account reports a status of “charge off,” it means the account is closed to future use, although the debt is still owed. The credit grantor may […]
A credit score is a three-digit number generated by a mathematical formula using your financial information. According to Bankrate, a credit score is designed to predict risks, specifically, the likelihood that you will become seriously delinquent on your credit obligations in the 24 months after scoring. (Fun fact: There are a varieties of credit-scoring models in […]
Interest rate doesn’t matter if you don’t carry a balance.The interest rate is irrelevant as long as you’re paying off your entire balance each month. Don’t keep a balance, please – if you are, stop reading now and use credit card payment calculator to pay it down quick. Use a rewards card.The vast majority of people should […]
A judgment is when an individual is taken to small claims court and a judge makes a ruling against the individual, this judgment is considered a public record. The court can award a debt collector a civil judgment for the amount you owe plus interest, fees and court costs if a judge deems the charges […]
Everyone goes through unexpected financial emergency, a lost job, or even a simple oversight could cause you to fall behind on your payments. If you miss a payment on one of your credit accounts, whether it be a credit card, mortgage, or other loan, you could see your credit score drop. As a result, lenders […]
It’s Refund Season It is that time of the year again. Those getting a refund are elated, but those having to pay back taxes are without a doubt disappointed. If you can’t pay your taxes in full, the IRS will work with you. However you should know that back taxes or certain past due debts […]
Learn More About HARP Now might be the best time in recent history for homeowners to refinance. It’s not just because the Federal Reserve has kept interest rates pretty low. There’s actually an even bigger saving opportunity awaiting roughly eighty percent of homeowners. Some consumers may have heard of the “Home Affordable Refinance Plan” (HARP). […]
