I’ll pay more next month… When creating a budget, you’re told to keep your expenses as low as you possibly can, and it’s good advice. Unless of course you’re making credit card payments. Most people are tempted to make the minimum monthly payment on their credit card in an effort to offset other bills. In the long run this is…
To co-sign or not, that is the question. It can be tough to get approval for loans or credit cards for someone who doesn’t have a good credit history. However, businesses still approve such applicants if someone with good credit agrees to co-sign for them. If your loved ones ask you to co-sign and you agree to help, they will…
Understanding credit cards. A credit card is a payment card issued by financial houses that allows the holder to pay for goods and services. Of course, this is based on the premise that the holder of the card will pay for them later, generally with interest. The idea of having something now and paying for it later is pretty enticing…
What is a FICO score? Your FICO (Fair, Isaac and Company) score is your credit score that is calculated with exclusive formulas and algorithms using the data from your credit report. If you are wondering “how is your credit score determined?” Then have a look at the factors that contribute to your FICO score below: How is Your FICO Score…
Just how bad is it? According to The Balance; the average credit card debt of a U.S household in December 2018 was $8,187 which means a total of $1.045 trillion. This clearly depicts how common and serious a problem credit card debt is, especially when it comes to having financial freedom. With an outstanding debt, you are not as free…
You have bad credit, big deal right? Bad credit can affect you in innumerable ways. Applying for credit cards results in the all too common denial screen, and lenders laugh at a request for a personal loan. When you have a bad credit report, not only will it be tough to get a loan or a credit card, even when…