What Do Credit Scores Mean and Why Are They Important?

What is a credit score? A credit score is a three-digit set of numbers ranging between 300 and 850 derived from information in your credit report. The higher the number is, the better the score. Lenders such as banks, credit card companies and finance companies use this information to determine loan eligibility, interest rates and credit limits. Credit scoring is not limited to lending institutions. Other organizations, including mobile…

READ MORE

7 Simple Strategies to Build and Rebuild Credit

Sadly, there is no quick fix to establishing and building positive credit. Because healthy credit practices aren’t normally discussed in homes or taught in public schools, many Americans don’t understand how credit works and struggle to establish and maintain positive credit scores and credit history. Poor credit scores can cause hugely inflated interest rates when purchasing cars and homes, denials on personal and business loans and even determine eligibility…

READ MORE

7 Simple Ways of Making Several Steams of Income

In today’s tough economy, it’s virtually impossible to strike it rich on a regular nine-to-five job, working five days a week for the next 30 years. Food, housing and utility costs increase by the week. Meanwhile, paychecks seem to stay the same. While many Americans struggle to make ends meet, live paycheck to paycheck and essentially work simply to pay off debt, in order to experience the finer things…

READ MORE

What Is Bitcoin?

Bitcoin is a digital currency used to purchase items online. Payments are cheap because bitcoins they do not carry any additional bank charges, government control or regulation. Many companies such as Microsoft, Virgin Airlines, WordPress and Subway use bitcoin to buy and sell items. Bitcoin differs from traditional currencies such as the U.S. dollar because there is no actual physical currency. Small businesses like bitcoins because they alleviate credit…

READ MORE

Five Reasons to Avoid Payday Loans

The lure of quick cash from payday loans may seem like an easy solution to money shortages during a time of need. Also called check loans or cash advances, the borrowed money is secured by your next work paycheck or government benefit check. To qualify, borrowers provide personal, financial, benefit and employment information. And in a few, short minutes, the cash is available via paper check or deposited directly…

READ MORE

How to Deal with Debt Collectors

There’s nothing more aggravating than having debt collectors hound you early in the morning when just waking up, at work or during dinner time with your family. The constant annoyance of your phone ringing from those pesky and persistent parasites are enough to either drive you insane or drop your head from the shame of being constantly reminded that you failed to pay back a debt. These agencies are…

READ MORE

How to Dispute Errors on Your Credit Report

Let’s face it. Nobody is perfect, and even your credit report can fall victim to imperfections. Your credit report could be a deciding factor in obtaining a credit card, landing that new job, buying a house or having utilities turned on. Many businesses use your credit report to make determinations about your credit worthiness. So it is important that your credit report is accurate. Any deficiencies on your credit…

READ MORE

The Difference Between Secured vs Unsecured Cards and Which Is Better For You

Secured Credit Card A secured credit card is funded by a cash deposit supplied beforehand by the cardholder. The amount deposited onto the card is your credit limit, which can be increased by adding more funds after demonstrating a good payment history. The credit line with secured credit cards will be from 70% to 100% of the security cash deposit. Depending on the credit card issuer, the deposit will…

READ MORE