Line of Credit
Key Takeaways There are three “kings of credit” and they’re the credit reporting agencies. If you have a good credit score, you will benefit from lower interest rates. You’ll also have access to more lines of credit if you have a good score. Are you familiar with the three kings of credit? They’re not […]
Reducing Debt to Retire
Key Takeaways You may start to feel you’re ready for retirement when you’ve “had enough.” But what do you do if you don’t “have enough” for retirement? Here are five actions you can take to help you reach your money goals so that you can retire. For some people, knowing when to retire comes with […]
Responsibility with Credit Cards
Key Takeaways It’s a commonly held myth that having a lot of credit cards hurts your credit score. How you use your credit is what affects your credit score. Make sure you know your utilization rate and that you’re responsible in your spending when it comes to your credit cards.
Do You Have an Emergency Fund?
Key takeaways A recent survey from Lending Tree reports that 52% of Americans and 60% of young investors cannot cover a $1,000 emergency. With no emergency fund in place, many are tempted to take out payday loans, which charge predatory interest rates from 300% to 700%. If you haven’t built an emergency fund yet, you […]
The Importance of Establishing Credit
Key takeaways A recent study reports that millennials are extremely reluctant to take on any debt. By maintaining a debt-shy attitude, millennials are not establishing credit nor maintaining high credit scores. Establishing credit is very important and will allow you to get the best available interest rates on home loans, car loans, credit cards, and […]
Are You Protected Against Credit Card Fraud?
Key Takeaways A recent report from the Federal Trade Commission found that 40% of all credit fraud happens in the 20-29 age group. Younger people tend to use their credit cards more online than other people as they shop online or sign up for automatic payments for online services they use. To protect yourself from […]
Credit Cards – Added Protection, Added Benefits
Key Takeaways A 2016 Bankrate study found less than a third of Millennials have credit cards. Using debit cards and cash leaves you prone to both identity theft and physical theft, whereas using a credit cards protects you from both. Credit cards often come with rewards programs that help you earn points towards goods […]
Leveraging Expenses
Key Takeaways There are actually ways you can use your expenses as leverage to help you pay off your debt and save more money. Developing a budget, paying your bills on time, and prioritizing expenses helps to gain clarity of your financial picture, keeps your expenses low and credit ratings high, and helps you build […]
The 3 Kings of Credit
Key Takeaways Check your credit score annually to make sure there are no errors in your financial history. Free credit reports can be obtained at AnnualCreditReport.com. The Fair Credit Billing Act requires the three main credit rating agencies—Experian, TransUnion and Equifax—to correct errors and disputes pertaining to your financial history. To bolster your credit rating, […]
Valued Credit Cards
Key Takeaways Pay your entire balance off (on time) every month. Always stay under your 30 percent utilization rate to maintain good credit. Research your awards programs carefully.