5 Times You Absolutely Need a Credit Card

Credit Cards

5 Times You Absolutely Need a Credit Card

5 Times You Absolutely Need a Credit Card

For decades, economists have been predicting that we would live in a cashless society. And while this may be true someday, many still prefer to use cash as a brute force method of preventing debt. Nevertheless, here are five times when even the most ardent opponents of credit cards will find them necessary: Renting a… Read More

Have You Done Your Year-End Credit Check-Up?

Credit Score

Have You Done Your Year-End Credit Check-Up?

Have You Done Your Year-End Credit Check-Up?

Thanksgiving is now officially behind us and the promise of a New Year is fast approaching. What better time for a little end of year financial house cleaning? Before you say goodbye to 2012, there’s one last year-end “to do” — your annual year-end credit check up. We hear the groans already, but this one… Read More

The Hidden High Cost of Strategic Default

Mortgages

The Hidden High Cost of Strategic Default

The Hidden High Cost of Strategic Default

If you’re one of the 28% of U.S. homeowners with a mortgage that’s higher than your house is currently worth, is it time to toss the keys to your lender and walk away? According to Zillow’s third quarter Negative Equity Report, some 14 million people owe an estimated $1 trillion more on their mortgages than… Read More

Does Your Old Debt Have an Expiration Date?

Managing Debt

Does Your Old Debt Have an Expiration Date?

Does Your Old Debt Have an Expiration Date?

We frequently get asked by readers what the statute of limitations are for debts, and for how long old debts can affect your credit. For example, one reader recently asked this question: I have a friend that had a credit card when she was starting college, and used it to pay for car problems that… Read More

Non-Traditional Credit Reports Now Regulated by ‘Free Report’ Rule

Credit Score

Non-Traditional Credit Reports Now Regulated by ‘Free Report’ Rule

Non-Traditional Credit Reports Now Regulated by ‘Free Report’ Rule

While consumers have been able to get a free copy of their credit reports from each of the nation’s three largest reporting bureaus, there was some information compiled by other, smaller firms to which they did not have easy access. However, a new rule from the federal consumer watchdog agency recently changed that. Now, roughly… Read More

Housing Market’s Recovery Picking Up Steam

Mortgages

Housing Market’s Recovery Picking Up Steam

Housing Market’s Recovery Picking Up Steam

Experts say that the housing market has been in recovery for several months now, and new data shows that not only are those improvements continuing, but they may also be picking up momentum. The housing recovery has surged in the past three or four months and through the end of October stands significantly closer to… Read More

Rewards Credit Card Marketing Gets Closer Look

Credit Cards

Rewards Credit Card Marketing Gets Closer Look

Rewards Credit Card Marketing Gets Closer Look

Today, many of the nation’s largest credit card lenders are increasing the value of their various offers, including on rewards cards. However, an independent advertising body recently ruled that one may have misled consumers with regard to how valuable one such offer was. Bank of America recently rolled out its 1-2-3 Cash Rewards Credit Card,… Read More

Debt on the Rise, Except for Home Loans

Mortgages

Debt on the Rise, Except for Home Loans

Debt on the Rise, Except for Home Loans

At the end of the third quarter, Americans owed less to lenders across the board than they did three months earlier. However, that change came despite an increased reliance on student loans, auto financing and credit cards. The total amount owed by consumers to lenders fell to $11.31 trillion between July and September, down $74… Read More

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