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Credit Score

Dec 19, 2016 Recently, VantageScore Solutions and the Consumer Federation of American conducted a survey to find out how many people were knowledgeable when it came to credit scores and their affects on finances. The majority of people knew what a credit score was all about, how to increase it, and that they needed to pay on time to maintain reputable credit. There were some aspects of the in’s and out’s of credit scores however, that left some scratching their heads. Here is a summary of the major facts people were unaware of.

Dec 18, 2014 Once upon a time there was a young man who was working full time while also going to school. He was making good money for a kid that age, and although he was paying his own way through school, he still had plenty of excess income to have fun on the weekends. When he started receiving credit card offers, he thought he had really made it. Despite warnings from his father, he filled out those applications, and when those little pieces of plastic came in the mail, the journey down “Bad Decision Way” began. Despite having some extra money, he started using that card, and when an emergency came and he really needed it, his card was already too far gone to help.

Dec 18, 2014 Credit makes the world go ‘round. Good credit makes borrowing money less expensive and that opens to door to all sorts of perks. On the other hand poor credit may not close doors but it certainly makes them a lot more expensive to open. Keeping your credit nose clean, metaphorically speaking is all you need to do. If only it were that simple!

Jan 13, 2016 Credit card fraud is a traumatic event on so many levels. Not only is the act of theft a frightening breach of security. There’s also the short-term loss of funds, which can happen at any inopportune moment. On top of that are the longer-term effects, such as identity theft and credit damage. Consider your credit card information one of the most valuable proprietary items in your possession.

Dec 17, 2014 Going to the bank has always been a chore. On most days, it’s just another bullet on a list of errands to hurriedly run in a day. Now, however, some banks are transforming into more than just a necessary evil to become places that are, well, cool. In an effort to draw people away from banking solely online or via smartphones, banks across the country have been luring customers in by offering services that make their locations a place where you actually want to be. Here are the banks with the best perks.

Dec 17, 2014 It's clear that debt can impact your credit score. There are few things that cause more stress than the looming specter of debt.  Even when you are meeting monthly payments and staying afloat, that silent ball and chain still drags behind you, clinking now and then to remind you that you are not really free. It seems logical to assume that the psychological burden debt carries could adversely affect one’s mental health.  I did a little investigating to find some hard numbers on this phenomenon and see what science has to say about the relationship between debt and mental health.

Feb 27, 2017 Some platinum credit cards are free and accessible to consumers with solid credit history. For example neither Wells Fargo nor Discover's platinum cards require fees. However other platinum credit cards require annual fees up to $450. So what makes having a platinum credit card so special and are the steep fees really worth it?

Dec 17, 2014 Many of us have a family member or friend who seems to be unable to get it quite right with their finances. Whether they are our children, and are just starting out or an older relative or parent who has taken a financial hit, if they come to us for help, we want to be able to give them the help them the help they need. This help can come in the form of cosigning for a loan.

Dec 21, 2016 Debt free people aren’t born, they’re made. It’s easy to look at people without debt with stank-faced envy as you spend your days paying off student loans, car payments, or the speedboat that solved your midlife crisis. However, becoming one of them might not be as complicated as it seems.

Dec 17, 2014 It is so easy to manage your finances online. Paying bills, transferring funds, and buying anything you could possibly need is becoming the new norm. With the dramatic increase in online activity, it comes as no surprise that cyber crimes are also on the rise. The Internet Crime Report for 2012 shows an estimated $525,441,110 was lost due to cyber crime, an 8.3% increase from 2011. You can buck the trend by protecting yourself in a few easy steps

Dec 21, 2016 It is a sad day when a debt settlement company is charged with the same type of fraud perpetrated by the creditors with whom they are pledging to define agreements with. This is exactly what happened recently when the Consumer Financial Protection Bureau filed a civil suit against Mission Settlement Agency, a debt settlement company based in New York. While hardly surprising—debt settlement companies have earned an increasingly predatory reputation—this incident highlights how careful consumers need to be when considering enlisting help from a debt settlement company or credit counselor.

Dec 19, 2016 Have you ever filled out a credit card application at a booth because of what they were giving away? Maybe it was a T-shirt or a coupon? Perhaps it was an entry in a raffle to win a car? Chances are, you received the card, but never even opened the envelope. You would think that by not opening the envelope you are protecting yourself from making a bad decision with the card. If that is the case, you are only partially right.

Feb 21, 2018 Editorial Note: This content is not provided by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the issuer. Ready to dig yourself out from under that mountain of credit card debt? Who wouldn't be? It might seem like an impossible task, but it's really not. You just need a card that doesn't keep bombarding you with ridiculous fees and interest charges. Everyone makes mistakes now and then, and being one day late on a payment shouldn't cost you $35 and send your interest rate into the stratosphere.

Dec 16, 2014 According to the 2010 Commonwealth Fund Biennial Health Insurance Survey, 53 million people had trouble paying or were unable to pay their medical bills.  Of that 53 million, 30 million had been contacted by a collections agency over unpaid medical debt.  Medical debts can have a severely negative impact on your credit score for several reasons, and there has been debate over whether they should be as credit-impairing as they currently are.  Here’s our breakdown of the situation.

Feb 28, 2017 Managing finances can be tricky for anyone, but doing so tends to be particularly tricky for service members. Members of the armed forces and their families can receive a number of financial benefits during deployment. However, these benefits often vary depending on a service member’s location.

Dec 15, 2014 The old saying "don't fix it if it ain't broke" was not created with your credit score in mind. Unless you have perfect credit (which you probably don't), your credit score can always be improved. Why? Because everything related to your personal finances revolves around these three little numbers.

Dec 15, 2014 Your credit score is a number that will follow you wherever you go.  Whether you are applying for a home loan, opening new lines of credit, or venturing into a new investment, your ability to obtain credit is incredibly important.  Even small, seemingly arbitrary decisions can affect your credit score.  Here are ten common mistakes people make that hurt their credit.

Dec 22, 2016 If you’re in the market for a new home, you’ll need to take a few steps to make sure your credit is the best it can be. Doing so will make securing a mortgage that much easier. SmartAsset put together a step by step guide to preparing your credit so that you can get a great loan and pay the least amount of interest possible.

Dec 15, 2014 Interest rates are a percentage of the total amount being loaned to someone. The person paying off the loan is responsible for paying for the total amount of their loan as well as the interest rate on that loan. Individuals are not the only ones who pay interest rates – banks pay them as well. When banks hold deposits for consumers, their customers are actually paid an interest rate on their deposits by the bank. The reason for this is that banks use the deposits they get from consumers to give out as loans. The interest rate given to customers is a way of convincing people to make deposits. Banks make profit by paying depositors a smaller interest rate then what they charge borrowers.

Dec 15, 2014 VantageScore Solutions recently introduced a new credit scoring model. Introduced in March 2013 Vantage Score 3.0 has already established itself as one the most unique credit scoring systems in the country.

Dec 15, 2014 Tax season is more than upon us, the official deadline is just one week away on April 15. While some can expect returns upon filing, there are others who have a tax liability — an amount owed by an individual to the government. Depending on your income level and assets, including investments, properties, etc., the amount you are obligated to pay the IRS may be more than you have at your disposal.

Dec 22, 2016 The F-bomb has become a pernicious problem for many Americans. No, not the F-bomb that makes a PG-13 movie rated R. We're talking exclusively about foreclosures. Though home values have risen substantially across the country since the summer of 2012, there are still many Americans dealing with the threat or reality of foreclosure. Foreclosures rose by 25 percent in North Carolina last year alone, according to Journalnow.com.

Dec 21, 2016 Who you are is important, and your identity is directly connected to your credit score- the single most important three digit number in personal finance. If you’re  looking to buy your first home, looking for a new home mortgage, insurance or a credit card, nothing is more crucial than what your credit report says about you.