Weekly Tips

Weekly Tips

Be Smart About Corporate Credit Card Use

If you have a company credit card for the first time, you may be feeling excited about your newfound spending power. But before you go swiping your card everywhere, you need to make sure you understand your company's policy regarding business credit card use. Although corporate credit cards are given to employees for business expenses, most companies have their own specific accounting and finance rules. So it's important to understand your company's expense approval policy before using your card.

Updated by Elisabeth Chan on Thu, 2016-08-18 17:05

House Hunting? Don't Forget About Your CU Ratio

As rates on 30-year fixed mortgages hover around 3.5 percent and home prices in many parts of the country are starting to dramatically rise, it may finally be time to take the plunge and purchase the home you've been saving for all these years.

If you're a first-time buyer that doesn't have to sell an old house before buying the new one, then you may be really excited about finally getting into the game. Those who can quickly qualify for a good mortgage in this lending environment will most likely be patting themselves on the back five or ten years down the road.

Updated by Joshua Heckathorn on Mon, 2016-07-25 15:12

Looking for a Loan? Think Small and Local

The "too-big-to-fail" banks have received billions in taxpayer bailouts, yet purse strings often remain tight.

Updated by Joshua Heckathorn on Fri, 2016-07-15 17:34

Will Student Loan Rehabilitation Fix My Credit?

Student loan rehabilitation is a process that allows those who have defaulted on federal student loans to make on-time payments for a set period of time in order to rehabilitate their loans and remove any default status from their credit reports. The program basically gives you a second chance to prove you can stay on top of your student loan debt.

Updated by Joshua Heckathorn on Wed, 2016-07-06 16:42

Closed by Consumer vs. Closed by Creditor

A closed credit card account will show up on your credit report as either "Closed by Consumer" or "Closed by Creditor". The words may not be exactly the same, but a close variation should easily be found on your credit reports. So, which one of these notations packs more of a punch when it comes to hurting your credit scores?

Updated by Joshua Heckathorn on Thu, 2016-06-30 15:20

Time to Ditch the Debit Card When Shopping Online

There are still way too many consumers out there that use debit cards to shop online. If you're one of them, listen up. It's time to finally ditch the old debit card and make sure you're protecting yourself by using a credit card instead!

Updated by Joshua Heckathorn on Thu, 2016-06-30 14:58

Avoid On-the-spot Signups for Retail Credit Cards

Retail credit cards can become a huge problem for those who find it difficult to just say no to the "get 10-percent off your purchase today" sales tactic. Remember that credit card companies are in business to make money, and the whole point of a retail credit card program is to get you to spend more money at a particular store than you would have in the first place.

Updated by Joshua Heckathorn on Mon, 2016-06-20 14:57

What Are the Risks of Co-signing?

If you haven't been asked by a close friend or family member to co-sign on a loan or credit card application yet, consider yourself lucky. Chances are you will be asked at some point in your life, so why not prepare yourself to give the right answer now?

Updated by Joshua Heckathorn on Tue, 2016-06-07 15:31

Will Shopping the Market Hurt My FICO Scores?

Are you ready to shop for the best deals on a home or auto loan?

While multiple inquiries at one time for your credit report information can theoretically hurt your credit scores, the fact is they probably will not drop too much.  If you are searching for the best interest rates on a home or auto loan, then it's definitely worth shopping rates with at least three different lenders at one time to make sure you get the best rate available.

Updated by Joshua Heckathorn on Wed, 2016-06-01 13:30

See What Income-Based Repayment Can Do For You

Are you struggling to keep up with your federal student loan payments? If so, a provision of the 2007 College Cost Reduction And Access Act, known as IBR (Income-Based Repayment), may be just what you've been searching for.

Although the law was passed in 2007, it actually took effect on July 1st of 2009 and is available to anyone with an eligible federal student loan. IBR essentially allows qualified borrowers to restructure student loan payments based on a formula that takes into account two major variables—level of income and the number of family members in their household.

Updated by Joshua Heckathorn on Fri, 2016-05-20 12:39

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