When a person borrows money, the lender earns money by charging a fee. The cost of borrowing this money is known as an interest rate. Each interest rate is typically expressed as a percentage of the total amount of money borrowed. Over time, the lender...
Accounts on your credit report fall into six major categories. These six categories include Installment, Revolving, Open, Secured, and Unsecured credit. Each of these categories often have overlapping features. Having Being knowledgeable about what credit is and how it is best used is essential to economic...
If you agreed to pay for and did not, then you fit the profile of being a higher risk. Lenders will look at your history of borrowing and repayment. Your credit score will be a direct reflection of this. Since this rating is a direct...
Any mother or father can attest to the fact that the joys of parenthood are many. Too numerous to count. So much so that we spend our kid’s entire childhoods just trying to keep up! Back in “the day” proud mom’s and dad’s would follow...
You're feeling good about your new job interview. If you nail this job it will quench the thirst your career has been craving. You're confident and you've been practicing those interview questions all night. You even purchased a new suit for this specific occasion. As...
Your credit report is more than simply a tool for potential creditors and lenders to determine your credit worthiness. It contains a plethora of personal data you can leverage to improve your financial life. Here are four ways you can use your credit report to...
Just about every time a customer walks up to a register to make a purchase a store credit card is offered or recommended. “Would you like to save 15% by applying for our store card and earn an extra $20 off of your purchase today?”...
According to the St. Louis Federal Reserve, the American government, businesses, and people are nearly $60 trillion in debt. It is reported that private debt makes up the large majority of this deficit. We live in a culture where capitalism is King. It has become socially...
You may have heard about the sky scraping credit scores of others. Knowing that credit scores can reach into the 800’s, there is no doubt that the burning question in your mind may be, “How can I get there?” The good news is that excellent...
Lift one hand if you've heard the term “Credit Score” before. Lift the other if you’ve ever heard the word “FICO”. If you have both hands in the air, you are very good at following directions! A little humor is good for the soul. But, misunderstanding...
