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Credit Cards

Learn more about the benefits and the downside to credit cards. Some people can use them and some people cannot. Also be sure to check out our complete guide to utilizing credit cards.

The Effects of Minor and Major Derogatory Credit Delinquencies

The Effects of Minor and Major Derogatory Credit Delinquencies

In the lending industry, free credit scores and credit scoring systems have become universal.

As technology advances and becomes more commercial, such as the public debut of the 1989 FICO credit scoring model, scoring tools have started to overtake traditional underwriting process in the world of lending. Companies like Credit Sesame have been founded to help the public gain a deeper understanding of their financial standings by offering free credit scores, reports, and tracking.

While there are definite benefits to this new takeover, there remains to be widespread misunderstanding of what actually affects your credit scores. One of the top suspects: late payments.

Your Wallet Just Got Stolen. What Do You Do?

Your Wallet Just Got Stolen. What Do You Do?

Imagine getting home on Friday night, after a stressful week. You’ve been looking forward to this moment all day. All you want to do is just throw some sweatpants on and just veg out on the couch. You turn the TV on, grab some drinks from the fridge and get your favorite pair of sweats. You go to take off your pants, you empty your pockets, and you heart sinks….

Your wallet. It’s gone.

If this has ever happened to you, you know the sense of fear that accompanies this horrible event. Your entire life is contained in your wallet. There’s credit cards, debit cards, ID, money, insurance card and membership cards. You now could be the victim of identity theft, with repercussions for years.

Here’s a step-by-step guide of what to do should the worst happen…

The Case for Cash Vs. The Case for Credit Cards

The Case for Cash Vs. The Case for Credit Cards

Cash or credit? What do you use?

I’m a fan of Dave Ramsey, but I don’t think everyone has to be stuck using only cash.

I’m a fan of credit card rewards, but I don’t think everyone is responsible enough to use them.

So how do you really decide whether to purely use cash or whether to get some credit card rewards?

Here’s how you can decide for yourself…

10 Things You Need to Know About Identity Theft

10 Things You Need to Know About Identity Theft

Identity theft is a risk that you face on a daily basis provided that you own a credit card and do business online. Every time you purchase an item online, you expose yourself to this menace. Today, identity theft has been identified as one of the fastest growing crimes in the world and the numbers keep on growing almost on a daily basis. We are all experts when it comes to identity theft not by choice but circumstances. Truth is told, with identity theft, the odds are that: you, your friend or your family member has been a victim of the same.

Why is the General Population Financially Illiterate?

Why is the General Population Financially Illiterate?

It’s no secret that most people don’t know how to handle money.

Personal finance is one of the primary categories of blogs on the internet today.

That’s because it’s needed. It’s highly needed. And most people don’t even know where to start.

People don’t understand things like the stock market, mutual funds, index funds or compound interest in general. The average person doesn’t keep a budget, and they overspend on a daily basis.

I know you don’t do that, but you may still be wondering why personal finance isn’t taught in schools, and why most people don’t have a clue when it comes to money.

Here’s some insight…

What You Need to Know About Spending Money While Traveling Internationally

What You Need to Know About Spending Money While Traveling Internationally

Who doesn’t like to travel?

Traveling is fun and exciting, but it can also be scary and overwhelming if you aren’t used to it. Especially when traveling internationally.

There are many things to know and this guide doesn’t cover everything, but it does show you the most important things that you need to know.

First, here’s what you need to do before you hit the road…or the sky…

10 Credit Myths Busted [Infographic]

10 Credit Myths Busted [Infographic]

Credit is a funny thing. Especially when you start talking to other people.

Some people have all the answers on how to improve your credit, but are they accurate?

Just because something seemed to work for someone else doesn’t mean it will work for you, but there are some standards that you (and anyone else) can meet to ensure your credit score will continue to rise.

Before you get into raising your credit score and cleaning your credit, you’ll want to look at these credit myths.

There’s no reason to waste time on things that won’t help you…

Balance Transfer to Lower Your Interest Rates?  4 Questions to Ask First

Balance Transfer to Lower Your Interest Rates? 4 Questions to Ask First

I’ve been there. Over $20,000 in consumer debt with interest rates higher than Cheech and Chong combined.

I remember seeing the offers pouring in to lower my interest rates. This one stuck out:

“0% interest rates on balance transfers for up to 15 months!”

It was a Chase Slate card. 15 months was the longest zero interest offer I could find for a balance transfer at the time. I calculated how much we needed to pay each month to pay it off in 15 months. We applied. We were approved.

It worked for us. We went from paying interest rates of 12%, 15% and even 17% to paying no interest whatsoever. But what would have happened if we would have went over the 15 month mark? Around 23% interest would have happened.

We had to ask ourselves if we were certain we could pay off the account in time, no matter how many unexpected costs popped up, but that’s not all we had to ask. Here are four questions to ask if you’re considering a balance transfer. Two to ask the company and two to ask yourself…

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