Credit Report and Your Rights
Have You Pulled Your Credit Report Lately?
Information found on credit reports and that three-digit number called a credit score havebecome such integral decision-factors in our lives. Do you feel as though you are now judged upon your credit report and credit score more than ever?
We have the opportunity—and the right—to see our credit reports and ensure that they are accurate, which is especially important before you apply for a loan. Here are some steps to taking advantage of the FACT Act to monitor your own credit: Continue reading “Credit Report and Your Rights” »
Gambling with Your Financial Future and Losing
Lottery and our Financial Future
We saw an interesting poll from Bankrate.com that asked how people envision themselves getting financially ahead, particularly in a difficult economy.
Not surprisingly, “Saving and Investing” was the number one answer, at 36%, followed by “Additional Education or Job Training” at 23%. Running your own business (which is actually the most common profession of millionaires in this country) was fifth at just 6%. Continue reading “Gambling with Your Financial Future and Losing” »
New Debt Consolidation Guide on Site…
I wanted to let our readers know that we have added a Debt Consolidation Guide to our website. You can view the guide online and print it off to keep.
We created the guide to help clear up some misconceptions of what Debt Consolidation is and what it isn’t. Continue reading “New Debt Consolidation Guide on Site…” »
The Unintended Consequences of the New Credit Card Legislation
With the recent passage of the Credit Card Accountability, Responsibility, and Disclosure Act of 2009 (CARD), credit-issuing companies stand to lose a significant revenue stream, namely, penalty charges.
No one can reasonably believe these businesses will accept a reduction in their profits without seeking to replace that income elsewhere in their operations.
With the curtailment of penalty charges and seemingly arbitrary consumer interest rate increases, banks and credit card companies will likely try to recapture lost revenue through expanded fees and service cuts. Continue reading “The Unintended Consequences of the New Credit Card Legislation” »
Importance of Credit Scores
Have You Checked Your Credit Report Lately?
The word credit can be heard every day from the TV, ads in the paper, and even the radio.
What is credit? It is the ability to borrow based on the promise of repayment. Lately, everything seems to be based on a person’s credit score. Here are a few ways credit scores affect the price you pay for the following items:
- Personal Life insurance: Having a bad credit score can drop you to the lower tiers causing you to pay a higher premium, though your health is still the most influential factor. Continue reading “Importance of Credit Scores” »
Credit History – The Importance of Maintaining Good Credit
Credit (an agreement to repay a loan over time) is becoming ever more pervasive in our society. What used to be the exclusive privilege of the wealthy has only in the past 50 to 100 years become available to the masses. Continue reading “Credit History – The Importance of Maintaining Good Credit” »
Credit Definitions, Basic Terms and Concepts
Here are some basic terms to know, especially when building or rebuilding your credit score.
APR: Total cost of loan on an annual basis, including interest charges, annual fees, points, and other finance charges.
Asset: Anything of monetary value, commercial or exchange value that is owned by a person or entity. Continue reading “Credit Definitions, Basic Terms and Concepts” »
Wise Usage of Credit, Credit Cards and Your Money: 8 Tips
Here are 8 tips that will help you use your credit wisely. Following these principals should help increase your credit score and standing.
- Make all payments on time. Don’t wait until the last minute to send a payment.
- Pay off the entire balance every month. You’ll never be charged interest this way. Continue reading “Wise Usage of Credit, Credit Cards and Your Money: 8 Tips” »
Developing Effective Spending Habits 101
Below is a list of five different spending behaviors prevalent in stores and malls across our land. Some of us may exhibit one particular behavior, but the majority of us will likely identify with two or more of them.
Behavior: Convenience Shopping
Description: You say things like, “It’s on my way,” or, “I don’t have time to look around!”
Behavior: Entitlement Shopping Continue reading “Developing Effective Spending Habits 101” »
Developing Effective Spending Habits 102
Much like body-building, developing effective spending habits takes effort, repetition and time. Below you’ll find a list of exercises that will help:
1: Budget. Without a realistic and effective monthly budget that you can consult regularly, spending habits can become irrelevant.
2: Develop shopping lists and don’t go into a store without one. Keep them somewhere easily accessible so you can add or remove items when they come to mind. Continue reading “Developing Effective Spending Habits 102” »