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Credit.com in the News 5/11/12

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This week the experts from Credit.com contributed to a wide range of publications on subjects including taxes, identity theft, credit scores, credit cards and debt. Check out the hits…

A tax refund check can lead to a lot of temptation among cash strapped college students. Many find this monetary bump as “found” money, but Emily Driscoll of Fox Business urges people to think of these payments for what they really are, money already earned. She asked our credit and debt expert Gerri Detweiler how students could best utilize this money. Always the pragmatist, Gerri responded that refund money is best used to pay down debt. While this may not by the most exciting choice for some students, the benefits they reap in the long run will make it their best bet. @Gerridetweiler @FoxBizMoney101 @FoxBusiness

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Credit.com credit analyst, Beverly Harzog was asked her opinion about prepaid cards from Blake Ellis at CNN Money for her story 5 Things to Know About Prepaid Cards. Beverly suggests holding out on getting a prepaid card unless it’s your only option. With fees and rates higher than standard credit and debit cards, she says she only recommends this type of card for those who can’t get a bank account. @BeverlyHarzog @CNNMoney

It’s actually not frowned upon to have a high limit of available credit; in fact, if you manage it correctly, more credit is a great way to raise one’s credit score over time. Since some of the rewards cards are giving out better bonuses than ever, opening credit accounts may pay off in the short term as well. Karen Blumenthal at The Wall Street Journal asked Beverly her thoughts, to which she replied that the deals are great and may be getting even sweeter come summer. This may be the time for you to think about opening a new card! @WSJ @KarenBlu

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