Adventures in Personal Finance
It seems that every few weeks, I get a letter in the mail from one of my credit card companies with convenience checks inside. Those checks are a tool that lets you put a cash advance on your credit line, which is bad news for most of us. When I worked in banking, we would get checks like these every day written to max out a credit line deposited into a checking account. I couldn’t believe people would consider that!
Credit repair companies advertise that they can turn your credit around quickly and with little work on your part. While some credit repair agencies are reputable, many falsely advertise and mislead consumers into thinking they can fix it all for a fee. Before you hire a credit repair company, here are some reasons you shouldn’t and tips to take care of your credit on your own.
15% of all Americans have credit scores in the below 549. If you have a terrible credit score, it takes a lot of work to fix it. If you are in the market for a new home, credit card, or even cell phone, poor credit can cost you money and prevent you from fulfilling your dreams. But all hope is not lost, here are some steps you can take to improve your credit score.
Today I am going to move away from the broader tips I usually provide and share with you something that I really do myself. In the past, I have shared posts on traveling cheap or free by getting credit card points and miles. Today, I am going to share one card that I carry in my wallet every day, the Starwood Preferred Guest from American Express.
If you regularly read travel hacking blogs, you have probably heard the term “churn” used quite a bit. For the uninitiated, a churn is a strategy used to sign up for new credit cards to maximize signup and bonus offers to rack up a huge number of frequent flyer miles and travel points quickly.
Over time, many of us become account collectors. You have that old checking account at the bank by your parent’s house. The checking account you use now, and maybe the old one you never closed. Over the last 10 years you collected three 401(k) accounts as you moved jobs, and opened a couple of investment accounts of your own.
This is way too much account clutter. Here are some reasons and tips to help you consolidate your accounts down to only the ones you actually need and use.
A common saying tells us that our credit score is the only grade that matters after we graduate from school. It is used for new credit, mortgage loans, phone accounts, job applications, and even dating. If it is so important, it is a good idea that you understand it.
I pay my credit card twice a month every month. I started bi-monthly credit card payments when I got my first job out of college, and I strongly believe that is the best way for the average person to handle their bills.
Credit reports and credit scores are an important cornerstone of your finances. If you don’t know your credit score, you should take some time to get your 100% free credit score. Unlike the sleep number, this is a number that can have a real impact to your financial life today and in the future. My favorite place to get your free credit score is Credit Sesame. Here is a guide to what your credit score means and how to get it.
In the past, I have written about the value of getting your credit report and credit score. Thanks to our friends at Credit Sesame, you can get your credit score for free and tips to stop overpaying on credit and loans.
I know I once wrote a post explaining why you need to stop using credit cards. That is not entirely true. It is important to understand the risks and dangers of using credit cards irresponsibly, but it is also important to understand and take advantage of the benefits.
I have written about who should pay for the first date in the past. We have also discussed how to save money when in a longer term relationship. Today, though, I am interested in how much you share about your finances, and what you expect to know, when in a new relationship.
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