What should you know about the business practices of credit card companies? How do credit card companies change credit card limits? What reasons do credit card companies give for changing credit card limits? How can you protect yourself when using a credit card? Learn more here about credit cards and your personal finance.
Bankruptcy Doesn’t Change Spending Habits
Once new bankruptcy laws take effect, it won't be easy for people to spend recklessly then discharge all of their debt. The shame that for years was associated with bankruptcy has largely been erased as society has changed. A few months after a bankruptcy is discharged, new credit card applications find their way into the mailbox, and for some, the cycle begins again.
Avoid Late Charges By Paying Online
If you make a payment a few days late, will that trigger higher rates from other creditors? Late payments are not usually reported for less than 15 to 30 days. You should sign up for automatic payments to avoid all late payments. Late payments on credit cards, mortgages or any other bills can severely affect your credit rating and credit score.
Losing My House to Creditors
Should I declare bankruptcy? I've got a ton of credit card debt and I'm worried that my creditors will put a lien against my house. I don't want to lose my house. What should I do?
Charged Off Credit Account
What does it mean if creditors put "charged off" on your account? This is a negative reporting that could severely hurt your credit score. A collection agency can pursue you for debt that has been charged off. While it is legal for them to pursue you, they have to live within the rules of the Fair Debt Collection Act.
How To Raise Credit Score To Prepare For Mortgage
To qualify for a mortgage you have to have a clean credit history and a good credit score. What can you to do improve your credit when you want to buy a home? Learn tips to raise the credit score and how to plan for the purchase of property.
Deal With Holiday Debt
Carrying a load of debt could cause your credit score to suffer. While some consumers will pay off their December credit card bills in full, more than half will spend months paying off the $1,500 in presents and holiday cheer they charged. If you pay even one bill late, you'll be paying for that mistake over and over again. Other credit card companies will use that one late payment as an excuse to jack up your interest rate even if you've never paid a single bill late for that particular credit card.
Avoiding Late Fees
Late fees make everyone mad - except the companies that collect them. Here are some ways to avoid paying late fees on your holiday bills.
Closing Credit Card Account Properly
A person wants to know how to pay off a credit card and guarantee that there is no remaining balance. Ilyce advices once you get your next statement, call the credit card company and verify that if you pay the balance on the statement you will be able to pay off the balance in full. Then, write a check to pay off the card.
Benefits Of Retirement Accounts Over 529 Plan
Retirement accounts have many benefits that 529 plans don't have/ If you start closing traditional IRAs (which are pre-tax dollars) and moving them to a 529 plan, you'll have to pay taxes and the penalty on the cash. You won't pay taxes on the contributions to your Roth IRA, but you will pay taxes and penalties on any earnings if you switch the funds to a 529 plan. On the other hand, you can withdraw contributions and earnings from your Roth IRA tax and penalty free if you use it to pay for college tuition, medical bills, or a down payment on a first home.
Budgeting To Get Finances Under Control
Budget planning can help make the most of your personal finances by prioritizing your expenses. If you own your home, a home equity loan can be used to help straighten out personal finances and get you back on track. Taking a second job short-term can also help boost income to straighten out personal finances.