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Tag Archives: Credit

Tips for Your Credit Smart Team

By Drew Kessler What could be scarier than your teen driving for the first time? A teenager with a credit card! As vulnerable teens increasingly obtain credit cards without really knowing how to responsibly use them, the NFCC recommends parents take action now to show teens the value of a good credit history and smart credit tips. Consider starting your teen off with a credit card tied to your account. Not …Read More

6 Credit Traps That Await Divorcing Couples

By Kimberly Rotter The divorce itself doesn’t affect your credit score, but watch out for these common scenarios that most definitely do. Just as your credit scores don’t merge when you get married, they don’t experience any automatic hit or boost when you divorce. The divorce itself is not factored into your credit score whatsoever. However, the process of untangling financially from your ex could leave a mark on your …Read More

Why Did I Receive a 1099-C From My Credit Card Issuer?

By John Ulzheimer By now you’ve probably started receiving your tax-related forms. Most of you will receive form W2, which is sent by your employer and memorializes your income earned for tax year 2014. Some of you, like me, will receive one (or several) 1099s. A 1099 is sent to people who do contract work as a non-employee. And some of you will unfortunately receive form 1099-C.   What is …Read More

One in Five Could Not Maintain Lifestyle Without Credit Cards

By Gail Cunningham The ability to put away the plastic and successfully live on a cash basis is an indicator of financial stability, as it proves a person’s lifestyle is in line with their income. However, the recent NFCC online poll revealed that one in five people could not make ends meet without the use of credit. Another twenty-two percent of respondents said that if asked to live on a …Read More

Ten Reasons Credit Card Applications May be Declined

By Gail Cunningham People apply for a credit card for many different reasons. Some are new to the world of credit and just getting started, while others are hoping to expand their access to credit. Regardless of the reason, no one applies for a card hoping their application will be rejected. To improve the likelihood of approval, consumers need to understand the credit decisioning process. Each lender has different criteria …Read More

Ask Stacy:Why Does My Credit Score Change So Much?

By Stacy Johnson If you monitor your credit score you may be like this reader — scratching your head wondering why it changes so much. Here’s this week’s reader question: My Discover card started providing my credit score free each month. What I don’t understand is why it was 814 one month, then 794 the next, and now it is 803. Nothing has changed in my life. I didn’t open up …Read More

Tips to Settle Credit Card Debt

By Melinda Opperman Settling debts is not easy. Many individuals ask us for tips to settle credit card debt. Settling your debts may be possible when a verifiable hardship exists, such as medical problems, unemployment, underemployment, divorce, or death of a family member. Recent credit card debt is more difficult to settle than other kinds of debt (medical debts in particular are generally a good candidate for settlement). The customer …Read More

How Do I Pay Off My Credit Card?

By Melinda Opperman When seeking financial help one common question asked more than any other is “How do I pay off my credit card?” There are as many answers to that question as there are credit cardholders. Each person’s finances and debt situation is unique, however there are some basic principles that can serve anyone who is seeking to pay off credit card debt: Stop borrowing. You’ll never make serious progress …Read More

For A Better Credit Score
Should You Carry A Balance On Your Cards?

By Mark Foster A question our financial educators are often asked by people is if it is better for their credit score to carry a balance on their credit cards every month instead of having a zero balance. Actually, that is one of the most popular credit myths – that it’s better to carry a balance. The truth is that the FICO credit scoring company likes that you have credit …Read More

Raise Your Credit Score in 2014
in 5 Steps

By Karen Carlson Poor credit could be costing you thousands of dollars a year. If you’ve suffered from a ‘so-so’ or even poor credit score for most of your life, make a commitment to yourself to raise your credit score in 2014. 1. Face your credit history and score: Like many things in life, the first step is to admit you have a problem and face it head-on. Go to …Read More