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Refinancing Your Home Loan

If you haven’t refinanced your mortgage ever since interest rates have dropped, you may have still not missed your chance. I still know people who have interest rates on their mortgage that are over 7%, and that just seems like a crazy high amount for a mortgage interest rate to me. However, you may have just never had a chance to refinance yet. Refinancing may not be for everyone, but it may be for you. I actually know someone who has refinanced their home loan over 5 times, and they’ve only owned their home for a few years. That is ...
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5 Ways to Manage Your Credit

Reputation is very important — whether in your personal life, at work, or where your finances are concerned. Your credit score is your “financial reputation”. The better your credit score, the more likely you are to get low-interest rates, loan packages, and higher credit card limits. More importantly, a lot of employers now look at an applicant’s credit score for evaluation. In fact, the importance of the credit score has crept into dating; why date someone with very poor credit score and get yourself into potential financial ...
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What If Credit Cards Aren’t For You?

On this blog, we talk about credit cards a decent amount. However, what if credit cards are not for you? There is no wrong or right way to handle your money. Some people are great with credit cards yet horrible with cash. Others are great with cash but will go into debt if they touch a credit card. If credit cards are not for you, then you definitely need to look into another way to pay for your expenses. If you do not, then you may rack up unnecessary debt, ruin your credit score, prevent yourself from getting a job because of a low credit score, ...
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Demystifying Four Credit Myths

There are many myths when it comes to your credit score and credit report. These myths will probably always float around in space somewhere, but if you are reading today’s post and read my blog, then hopefully we can demystify these credit score and credit report myths and make everyone just a little bit smarter today. Below are four common credit score and credit report myths that you may have heard of and even fallen for: 1. Does your job affect your credit? Your job and your income have absolutely no effect on your credit score. In fact, ...
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The Crazy Credit Catch-22

Remember Catch-22 and that “damned if you do, damned if you don’t” mentality? Well that is exactly how credit works these days. If you are responsible, pay off all your debts on time and live a relatively debt-free, all cash life, you can be penalized by mortgage companies when you want to purchase a home. or penalized by credit card companies if you want to get a credit card. This happens even if you are financially responsible and living completely within your means. Side note: If you are looking to increase your credit score, you can ...
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Things That Don’t Hurt Your Credit Score

When it comes to credit scores, there are a lot of myths out there floating around. Credit scores can sometimes feel like one of those things you might never fully understand, but it really does not need to be that way. Below are several credit score myths that you may have heard. Side note: If you are looking to increase your credit score, you can start off by checking your free credit score through Credit Sesame. They provide free credit scores so that you can see what areas you should be working on. Yes, it is actually free! Credit Score Myth ...
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Four Potential Credit Card Scams

When you’re working to perfect your credit, beware of potential scams that can hurt you along the way. With new technology that is always getting better and smarter you need to be careful of the offers that you take advantage of or they may take advantage of you. Do you need to pay for lower interest rates? NO! You do not have to pay for a lower interest rate on your cards. You can negotiate that yourself without a fee so if you get an offer for a lower rate and all you have to do is pay this upfront fee, be wary. Be especially careful if ...
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Financial Mistakes That May Lead To Credit Card Debt

Financial mistakes can be great learning tools, but they can also lead to debt such as credit card debt. Before you know it, you may be buried in credit card debt and feel completely out of control. Below are different financial mistakes that may lead to credit card debt. Not having a budget. Going without a budget is such a huge disaster. You should always have a budget. If you have any financial problems, then you need it. I don’t care what you say. A budget can help you see where you have spending problems, and what you need to work on. ...
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