What is a Credit Report and Why is it Important? – For anyone who has just started off using a credit card for the first time,you need to know that there has also been a report created for you that will...
Factors That Affect Your Credit Score – Your credit score is one of the most important financial metrics that will govern your life until way past your retirement age.Most debt sticks with us for a good part of our adult age...
What is a Good Credit Utilization Ratio? – For those who didnt read my previous article on what credit utilization is,ill sum it up in a single para here.Credit Utilization is a ratio between the balance amount you have spent on your...
How Late Can I Make My Credit Card Payment?- It happens to the best of us,and often unintentional,but we all have had late payments done on our credit cards.How late can you actually pay that minimum due on the card,and are...
Why you should not close credit cards – Most of us are faced with the daunting decision of closing our credit card at some time in our lives.It is a choice we cannot make easily without seeing the pros and cons...
How Closing Credit Cards Affect Your Credit Score – I heard this millions of times when i worked for credit card collections – the card user would tell me that “they would take a scissor and cut that card up”. As...
What is the Credit Limit on a Credit Card?- Its the maximum capped amount that you,as the card user are allowed to spend.If your credit limit is $1000,then you can swipe your card for purchases upto a maximum of $1000 at...
What It Means to Max Out Your Credit Card – In technical terms a maxed out credit card is one that has a credit utilization of 100%.In simple layman’s terms,this happens when you have spent the entire credit available to you...
Understanding Credit Utilization – Ever wondered why your FICO score is not as much as you thought it would be?A greater credit score would allow you to take bigger loans in future for a house or for refinance if you ever...
Drawbacks of Retail Store Credit Cards – Retail store cards are easy to get and sometimes have some benefits like discounts on store purchases and easy issuance of credit, that might lure you to apply for one,but before you do that,...