An article by BudgetQueen You get that offer in the mail from either your credit card or a new credit card to transfer an existing balance with no APR for several months. You think to yourself: “Yes, I do pay a lot of interest every month on my credit card. What if I transferred the balance to the new card? What can it hurt?” Well I am here to discuss the ins and outs of balance transfers. Yes, I have done it as well. I have done it successfully, but I have also noticed the little traps that … [Read more...]
How To Maintain A High Credit Score
When it comes to dealing with your credit, it is important that you know what to do. Having a high credit rating is essential to your overall financial health as it can determine a number of things from your ability to get a mortgage to even getting a job. For most people, debt is the reason why their credit rating is poor. Debt is an unfortunate necessity as you often need it for mortgages and car loans but you can avoid certain debts like credit cards and personal loans that can really hurt … [Read more...]
So why do I need good credit anyway?
An article by BudgetQueen When I was car shopping once, I wanted to test drive a car. I look really young for my age and I was dressed in a t-shirt and jeans and I think that the salesman thought that I was wasting his time. He even had the nerve to say, “Are you really interested in this car?” before he went to the effort of getting the keys. I was amused. He didn’t know I had wanted this car, researched this car, and saved up for this car for four years. Later the guy came back to me with … [Read more...]
Dealing With Your Personal Finance Holiday Hangover
Ahhhh the New Year is up on us! 2012 here we come! Now that your Christmas/Hanukkah/Kwanzaa/Winter Solstice gifts are unwrapped, the fruit cake from Aunt June is put away to age for the rest of eternity, you finally have a moment of clarity! Holy crap! I have credit card bills on their way. I have to pay for all of these merry festivities now! Not to fret, we’re here to make some sense of it for you, and to give you some guidance so that you don’t go as crazy as “Cousin Eddie” standing in the … [Read more...]
Credit Cards And Your Credit Score
Can Cancelling a Credit Card Affect My Credit Score?Cancelling a credit card will affect your credit score, especially if you have had that card for several years. 15% of your FICO credit score is based on how long you have had that line of credit. The older the better. Once you cancel that card, you will lose that long history you had with the card and your score will go down.How Do Credit Cards Affect My Credit Score?Credit cards affect your credit score with two factors:The balance on … [Read more...]
