Are you a shopaholic? Do you love to go around the mall, try new outfits, get your hands on the latest gadgets, but everything you like? With this spending addiction becoming so common amongst the youngsters, everybody is seen swiping their credit cards. Swipe and pay! You don’t have money? It is okay, the credit card will manage the situation. Take the new shoes home, you can pay the money later when your back account shows some figures. It is good thing but, isn’t it? NO. Because every time you swipe your credit card (and you not have adequate ... Read more »
Credit – The ability of a customer to purchase goods and avail services before payment, based on the trust that the payment will be made in future.
How to improve your score?
If you want to improve your credit score, follow the following tips.
Subscribe to healthy repayment habit:
(a) Pay your bills on time, don’t delay.
(b) Clear the missed payments.
(c) Get counseling and understand how to not let it fall
Manage your debt.
Keep the balances low, in fact very low. Pay off debt rather than delaying it. Don’t close unused cards. Don’t ... Read more »
Is it possible to go through life without ever having any credit cards?
Some people use credit cards everytime they make a purchase. Others may only use their credit cards for big ticket items. And some people never use a credit card. In fact some people do not even have a credit card in their name.
A recent poll by creditcards.com showed that some 29 percent of 1,004 respondents ages 18 years old or older said they did not own a credit card.
So why are people saying no to credit cards? People are saying no to credit cards as a way to protect themselves ... Read more »
If there has been any lesson that has been almost universally learned in the past few years it is that very few people are immune to financial problems.
Even people who had always had stellar credit in the past have seen their credit scores plummet due to unforeseen circumstances such as job losses or the loss of value on homes, stocks and retirement accounts a few years ago or even now.
Even so, life goes on and emergencies and life essentials come up. Do you have no credit or poor credit? Wouldn’t it be nice to have a credit card on hand ... Read more »
Do you apply for, and use, department store credit cards? Do you think there are any advantages or disadvantages to using them?
Some of the disadvantages really only apply to people who are unable to pay their amount owing in full each month. Why? Because most often department store credit cards charge very high interest rates and if you simply make the minimum payments each month your purchase will quickly cost you double what you actually paid for it.
Department store credit cards are great for someone that needs to improve their credit score. ... Read more »
The other day I published the article 6 Reasons You Should Look Into Getting Your First Credit Card. Even though I am all for credit cards, I know and understand that many people misuse them. Misusing credit cards can lead to debt, stress, money problems, and more. These are all things that people do not want.
Below are my tips on how to make sure you use credit cards correctly so that you don’t go into credit card debt:
Always review your transactions.
I like to review my transactions on my credit cards around once per week. This way I don’t ... Read more »
There are many positives and benefits to having a credit card, and credit cards are what I use to make almost all of my transactions. I hardly ever use cash because I just do not see the benefits of using it. Instead for me, credit cards have so many benefits so I see no reason not to use them. Yes, there are reasons to stick to cash too though, but we will not be discussing those today.
Below are six reasons for why you should look into getting your first credit card:
1. You can work on improving your credit score with a credit card.
One reason ... Read more »
Credit cards are not for everyone. That is not a surprise. Credit cards can lead to debt, high interest fees, wasted money, loads of stress, and more. So, if credit cards are not for you, then you may want to look into ditching and cutting up your credit cards in order to switch to a cash and/or debit care lifestyle.
There is nothing wrong with ditching credit cards. There is no shame in it either, so it’s always best to be honest with yourself and do what is best for you.
1. You treat it as free money.
If you treat your credit cards as though ... Read more »