Medical costs are a serious issue in the United States. The average U.S. consumer spends more than $10,000 a year on medical care, and one in five Americans has reported problems with paying his or her medical bills. But medical debt can put a dent in more than your bank account. It can also land [...]
Did you know that how you dispute fraudulent charges on a debit card is different than on a credit card? Consumer protection laws differ in each case and knowing the differences can help to keep your accounts safe from identity theft. Mainly, if you need to dispute a fraudulent debit card charge, the funds [...]
Graduation season is here and that means many young people will be heading out on their own for the first time. However, with that new-found freedom comes an increased risk for fraud and identity theft. Did you know that young people fall victim to fraud and identity theft at a higher rate than older adults? [...]
Identity Theft Recovery Plan: Start with Your Credit Report If your personal information has been compromised, maybe by a data breach or stolen credit card, check your bank accounts for fraudulent activity immediately. You may be a victim of id theft. If you see fraudulent charges, you may feel overwhelmed, frustrated, or even lost. [...]
There are many good reasons to work on paying off your debt. Over time, your financial obligations and the size of your monthly payments may shrink. You can free up more cash for investing, saving, or just having fun. Making timely debt payments can even help your credit score. But what is the best way [...]
Building a strong credit score may seem like a complicated undertaking, but it generally involves making informed choices and avoiding common pitfalls. When you don’t know what behaviors to avoid, you could be dragging down your credit score without knowing it. Don’t let unintended blunders hurt your credit. Here are seven common credit mistakes to [...]
Credit cards with strong balance transfer offers can help cardholders with high-interest rates pay down their credit card debt faster and more affordably. In theory, it’s a simple concept: you simply move your existing credit card debt to a new card with a lower interest rate, with the intention of paying down your debt quicker. [...]
When you’re shopping for a home, it’s important to pay close attention to mortgage rates, the amount of interest that lenders charge on a home loan. Though it’s only a small percentage, the mortgage rate directly affects the amount of your monthly payment and how much you’ll pay over the lifetime of the loan. The [...]
The information contained in your credit report should be fair and accurate. After all, it determines your credit score and helps lenders, creditors, and other companies decide whether to do business with you. Unfortunately, credit report errors are extremely common. In 2013, the FTC reported that one in five Americans had discovered an inaccuracy on [...]
When used correctly, your credit card can be a useful personal finance tool. Credit cards can fund everyday purchases, build your credit score, and even earn valuable rewards. But when you use your card the wrong way, you can easily fall into financial hot water and damage your credit. There are certain things you should [...]
Credit card companies usually highlight their showier benefits, like cash back rewards or airline miles, to draw in new business. But many credit cards provide much more than that, offering a full suite of valuable benefits to their customers. If you’re only aware of your credit card’s surface level perks, you might not be getting [...]
Getting an unexpected call from a debt collector can be an intimidating experience. Often, debt collectors will try to pressure you into paying them over the phone on the spot. But even if you’re swimming in debt, you have rights when a debt collector calls, and you should always do your homework and exercise your [...]
If you’ve ever received a credit card pre-approval offer in the mail, you may have wondered why the credit card issuer is reaching out to you. How do they know you would be a good customer? Why are they extending you an offer unprompted? And are these offers guaranteed? The business of credit card pre-approvals [...]
One of the best ways to build credit is responsible use of a credit card. By maintaining a low balance and making your payments on time, you can use your credit card to improve your credit score. But if you already have bad credit, it can be tough to get approved for a card in [...]
The primary purpose of your credit report is to demonstrate your creditworthiness to lenders and creditors. In other words, your credit report can help companies decide whether to approve or deny your loan and credit card applications. But lenders and credit card companies aren’t the only ones that can pull your credit report. In fact, [...]
When you’re drowning in debt, bankruptcy can be an escape route. Bankruptcy can help you discard or pay off debts and get some financial relief, but it can also be devastating for your credit, causing your credit score to take a nosedive. Unfortunately, there are many misconceptions and myths surrounding bankruptcy. Here are five of [...]
If you’re unhappy with the terms of your current credit card, you might think you’re stuck with the status quo. But credit card companies are often willing to negotiate certain terms, especially if you’re a good customer or if you have special financial circumstances. Here are five things to negotiate with your credit card company. [...]
Following last year’s enormous Equifax data breach that compromised the personal information of 143 million Americans, consumers were left wondering how to protect themselves from fraud and identity theft. One solution is credit freezes, which prevent thieves from using your credit to open fraudulent accounts in your name. But freezing your credit with all three [...]
When you’re stuck with high-interest loans or massive credit card balances, it’s hard to envision a future where you aren’t overwhelmed by debt. If that describes you, you may be considering a debt consolidation loan to help dig yourself out. Personal loans for debt consolidation are offered by many banks and credit unions. They allow [...]
Before you apply for a credit card, it’s a good idea to review your credit and identify opportunities for improvement. That’s because a better credit score can get you lower interest rates, higher credit limits, and access to better cards. Whether you’re applying for your first credit card or your fifth, you should take some [...]
A lack of familiarity with your credit report could cost you big. The information in your credit report determines your ability to qualify for credit cards, loans, and even employment in some cases. Negative information in your credit report could hurt your credit score and block access to the financial products you need. You should [...]
Your credit card is one of the most valuable items in your wallet, and you rightfully might feel frantic if it’s been lost or stolen. But unlike some other pieces of property, federal law protects your credit card. Replacing it might be a pain, but if you act fast you can limit the damage done. [...]
When used correctly, credit cards are one of the best tools available for building or improving upon your credit. They directly impact several factors that determine your credit score and are a good place to start if you want to make a positive change. Here are four ways credit cards can help you build your [...]
Debit cards are one of the worst ways to use your money if you want your ID protected. Because it’s linked directly to your bank account, anyone with your card information can instantly withdraw all the money from your account. If that doesn’t scare you enough, there’s the fact that debit cards don’t have near [...]
The parental refrain “Do what I say and not what I do” isn’t a wise one in many respects, but especially when it comes to financial talks with your kids. Parents lead by example and if you’re racking up credit card debt you can’t afford, then you may be teaching them bad money habits. Such [...]
When you don’t have any credit history, it’s hard to qualify for credit cards and loans, which are ironically the very tools you need to build good credit. Lenders simply can’t judge your ability to manage debt without any past information to evaluate. This is a common challenge for young people and anyone without any [...]
When they’re used correctly, credit cards are one of the best ways to build credit. But if you have bad credit or a thin credit history, you might have trouble getting approved for a card. It’s a classic catch-22. Secured credit cards were designed for people in your scenario. While they have a few quirks [...]
