Even if you don’t plan on buying a home or car or making any other significant financial purchases in the coming year, it’s important to make sure that your credit score is as high as possible. Improving your credit score can help you save money in the form of lower interest rates on your current credit cards, and help you get approved if you want to apply for new credit cards. Having a better credit score could even help you when applying for a new job, as employers in some industries (as well as certain types of jobs functions in...

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We all have a lot of important numbers in our lives, but when it comes to borrowing money, your credit score is one of the most important. Credit scores are something of an enigma to the average consumer, because we don’t have free access to them like we do our credit reports. But you can find out your credit score by paying a small fee, and there are also online calculators that will help you estimate it based on your credit history. In order to borrow money from many lenders, you’ll need a credit score of at least 620. And...

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The credit card is one of the most popular inventions of the 20th century. It made it possible for consumers to buy what they wanted when they wanted it without worrying about paying for it right away. But with that convenience comes a price. The longer it takes you to repay the amount you borrowed, the more the credit card company makes, and the more money you pay for that convenience. Credit card companies are laughing all the way to the bank, because many borrowers tend to take their sweet time paying off their balances. That means more money for...

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Are you challenged with excessive credit card debt? Don't despair! While credit card debt can feel difficult, it can be overcome with a little work and planning. You can take action today, and achieve mastery over your finances! Whichever of these strategies you use, avoid the common mistake of running up the balance on your credit cards again. Then you'll potentially have a loan and a credit card balance to deal with. Cut up those cards you don't need (yes, literally!), and move forward with your life on a cash-only basis. Here is some advice on how to reduce and eliminate...

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Sometimes bad credit is a result of poor money management. Others, it’s due to job loss, illness, or other circumstances beyond one’s control. But whatever the reason may be, having bad credit can make life a lot more difficult. Those who wish to rebuild their credit may have a hard time doing so because they won’t qualify for most loans and credit cards. Fortunately, there are credit cards out there designed for those with bad credit. Their interest rates and fees are often higher, but once you’ve established a good record with them, you’ll be more likely to qualify for...

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The world has gone mobile. In fact, according to a recent CBS news report there are approximately five billion mobile devices worldwide. All of this mobile activity has led to an increase in the functionality of cell phones. You can now play games, take video, write documents and manage your finances all from a small device that fits into your pocket. Using your mobile device for your finances – whether it’s a cell phone, smart phone, iPod or tablet – is fast and efficient. It makes it easy to stay on top of your credit card payments and transactions....

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When you’re living paycheck to paycheck, it can be tough to pay more on your credit card debt than the minimum payment. However, the numbers show that even if you can only afford to pay a few dollars more each month, you will drastically reduce your debt. Here is some advice on what to do. Paying only the minimum means you’ll pay more in the long run. If, for example, you have a balance of $2,000 and you pay 10% of that balance each month, in three years you’ll have paid off your balance and $269.31 in additional interest, assuming...

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First, let me explain what "balance chasing" means. If you own a credit card and carry a balance, you may have recently received a letter in the mail from your creditor telling you they’ve lowered your balance. Maybe you originally had a $6,000 balance, they cut it down to $4,000 and you owe $3,900. This is balance chasing, and here is some advice on how to deal with it. Balance chasing is when your creditor cuts your balance down to just above what you owe. They do it because they’re trying to reduce risk, but they also stand to...

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Whether you receive your credit card statement through the mail or electronically it may not be a welcome piece of mail in most homes, but if it is not checked correctly or thoroughly credit card holders could be incurring more costs than they realize. Here is some advice on what to look for and review in your credit card statement. At first glance a credit card statement can be confusing, but once you know what to look for you can save yourself money and even protect yourself against fraud. First you’ll want to ensure that you look over the “purchases or...

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Credit score or FICO in the dumps? Need to pick it up fast? Buying a home? Applying for a job? Not to worry; here is some advice on how to improve your credit score. Before I get to specifics, it’s important for you to know that your credit score is important not only if you are applying for credit, but also if you are applying for a job. Many companies will review your credit score as part of your employment application because they believe that if you have a solid credit score you may also be more responsible than a...

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