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3 Reasons Why You Should Pay Your Credit Card Bill Early
When it comes to paying your credit card bill, the most important date you need to pay attention to is the due date. The consequences of paying your credit card issuer late depend on the terms and conditions, but you might be charged late fees and even see a higher penalty interest rate after 60 days. After 30 days, the late payment can be reported to the credit bureaus and negatively impact your credit score. 3 Benefits to Paying Your Credit...
Why You Should Pay Above the Minimum Payment on Your Credit Card Bill
Your monthly credit card statement always includes a minimum payment you need to make for the month. Typically, the minimum payment is a fixed amount. Or, if your balance is above a certain limit, a percentage of your balance, usually between 2% to 4%. You always need to make the minimum payment by the deadline to keep your account in good standing. But only paying the minimum every month isn’t a great financial strategy. By paying above the...
How Does Using Your Credit Card Affect Your Credit Scores?
Here are tips to help you use your credit card to positively impact your credit scores.
Can Missing a Rent Payment Impact Your Credit Scores?
On July 31, landlords are again able to legally evict tenants for failure to pay rent if there's no new stimulus bill or executive action to renew the temporary protections put in place last year. This means millions of Americans may be at risk of missing rent payments or under the threat of eviction. While missing a rent payment or an eviction won't end up on your credit report, not paying your rent can still indirectly have a negative impact...
6 Ways to Best Use Your IRS Child Tax Credit Payments
Here are 6 tips for the best way to use your IRS child tax credit payments, which start this month.
America’s Credit Is on the Rise: Here Are 3 Steps to Keep It That Way
The number of Americans with bad credit dropped during the COVID-19 pandemic. What’s behind this drop? Americans spent more time paying off debt than racking it up. Overall, subprime consumers were also able to reduce their total average debt, shrinking their outstanding balance across all accounts from an average of $55,135 to $52,628 – a reduction of 5% between Q1 2020 and Q1 2021, according to market reports. Subprime is a term used by...
New Credit Card Program to Let Applicants with No Credit Qualify Using Their Bank Account
The biggest banks in the United States are launching a pilot program this year that allows applicants with no credit history to qualify for credit cards using information about their bank accounts.
What Happens When You Add an Authorized User to Your Credit Card?
Adding an authorized user can enable them to make purchases and even build a credit history, but you need to know there are some risks.
No Credit or Bad Credit – What’s the Difference?
Having no credit and bad credit often get grouped together, but the two situations aren’t the same. And understanding the difference between the two is a key step toward reaching your credit goals. Knowing the right way to positively impact your credit often depends on whether you have no credit history or bad credit. Having no credit means that there's simply not enough information on your credit file to calculate an accurate credit score for...
Student Credit Cards Can Help Students Establish Credit
As college students spend the summer working or taking summer courses, now is the time to work on establishing financial independence before they graduate. Having a strong credit history can help students apply for loans or credit, get an apartment or even land a job. Students who start now can establish strong credit for long-term benefits. Student credit cards can be a powerful tool in the college student’s credit arsenal. Here’s how student...
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