When you want to buy a home, you will need to have money for a down payment. Depending on the type of loan you choose, your downpayment can be anywhere from 2.25% to 20% and more. Once you start saving money, your goals will come closer to you. Having money automatically deposited from your paycheck...
As you work on your credit, developing good habits will do the trick. It may take a while, but if you keep up the good work you will get to your desired score. Some really important things to do are: 1. Making all of your payments on time, always 2. Pay your bills in full...
Credit Cards are everywhere, but they are definitely not for everyone. Or at least, they shouldn’t be. If you see yourself in the following statements, you should stay away for applying for a credit card for now: 1. If you lack self control in every field in life 2. If you are in a process...
Credit card companies make it easy for shoppers to get into debt. Your are offered to pay a minimum payment each month, and it can be often times tempting. Yet, remember hat you have an interest rate, and it is usually around 10 to 30 percent. Don’t spend more than you have to if you...
If you’ve noticed that your credit score has taken a dip recently, there are different reasons why this may have happened. One of those reasons could be your payment history. If you’re late on a payment, skip a payment or default on a loan all together, those are all reasons that your score can be...
If your credit score has dropped since the last time you looked at it, there are several reasons it may have done so. One of those reasons could be current debts. Here’s what that means… if you borrowed more money for something recently, this could affect your score. When creditors see this, they will be...
If you’re trying to rebuild credit, it can feel like an uphill battle. Ways to improve your credit fast is by getting a secured credit card. This is better than a debit card. A debit card only uses the money that’s already yours to pay for stuff. You’re not borrowing, therefore you’re not being reported...
As if juggling lenders aren’t enough, there are other forces out there that can drop your credit score too. Tax and legal issues. If a creditor has sued you, it can damage your score and thus damage how you look in the eyes of creditors. Also, if you have a tax lien imposed by the...
When you use a debit card, you are not borrowing money. You are simply using your own money to pay for things. The money is coming straight from your bank account. Because you haven’t used credit, it will have no effect on your credit report or your credit score. You can not build credit using...
Credit cards and debit cards are two very different things. A credit card extends you a line of credit while a debit card uses money that you already have. In order to have a credit card, a lender has to approve you. When using your credit card, you are borrowing money. For example, if you...
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