Why Balance Chasing Can Hurt Your Credit Score
Monday, June 28th, 2010
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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Tags: balance chasing, credit card advice, credit score
Posted in Managing Credit | No Comments »
How to Improve Your Credit Score
Tuesday, June 8th, 2010
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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Tags: credit card advice, credit score, credit score advice, improve credit score
Posted in Managing Credit | No Comments »
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