Total up the credit card debt of all the people in America, and it gives each household a staggering balance of $7,115 according to the Federal Reserve. Among just those who have debt, the average balance in $15,252. About half of households regularly carry a credit card balance. With high rates of unemployment, circumstances often … Continue reading “Credit card debt: how it hurts and how you can escape”
Category: Personal Credit
Did you know that only 10 percent of Americans know their credit score? Those are the findings of a survey commissioned by TrueCredit.com, a web subsidiary of the credit bureau, TransUnion. “It is shocking how little Americans know about their credit,” said John Danaher, president of TrueCredit.com. “Good credit is a cornerstone of your financial … Continue reading “10 things you can do to improve your credit score”
The most annoying part of credit card debt is the monthly statement. It’s a dense plate of word salad served with a heaping dose of guilt dressing. The only part of it that’s easy to understand is the “payment due” – and that’s just the way credit card companies like it. Credit card companies have … Continue reading “APR explained: why a lower rate is your highest priority”
If there’s something on your credit report that you’d like to delete with the Mr. Clean Magic Eraser? The ads that you see and hear from those “credit repair” companies sound pretty good. They promise to legally change your credit report, bring up your score, and give you a fresh start. Can it be true? … Continue reading “Credit repair: the good, the bad and the truth”
If you’ve reached a point where you know you have too many cards and want to trim them to simplify your life or to get your finances under control, think carefully before you act. Some of your credit cards are better than others, so careful consideration is in order. Decide how many credit cards you … Continue reading “Credit cards: what to close and what to keep”