What Is a Revolving Credit Account?

Credit 101

What Is a Revolving Credit Account?

What Is a Revolving Credit Account?

Revolving credit is a type of credit in which the consumer’s balance and minimum monthly payment can fluctuate, and where the cardholder usually has the option of avoiding finance charges by paying the last statement balance within the established “grace period.” This type of credit account (or line of credit) also has a predetermined credit/spending... Read More

This Week in Credit News: Obama’s New Budget

Personal Finance

This Week in Credit News: Obama’s New Budget

This Week in Credit News: Obama’s New Budget

The biggest news this week is all about the financial battle in Washington D.C. as President Obama released his proposed 2014 budget. FHA May Need Nearly $1 Billion Infusion, White House Forecasts With President Obama’s release of the new budget came some criticism from analysts, who found that the Federal Housing Administration may need a... Read More

Help! They Closed My Credit Card Account

Credit Cards

Help! They Closed My Credit Card Account

Help! They Closed My Credit Card Account

The experts at Credit.com recently received this email from a reader who experienced several unpleasant — and confusing — credit surprises. Here, we help unravel the mystery of the closed credit account and the shrinking credit score: My husband and I short sold a rental home about 18 months ago. We had an unpaid 2nd... Read More

Home Tours, Sale Offers on the Rise

Mortgages

Home Tours, Sale Offers on the Rise

Home Tours, Sale Offers on the Rise

Home tours were up 9 percent and offers up 22 percent from February to March, showing a spike in homebuyer activity, according to the most recent Real-Time Demand Pulse report from Redfin, an online real estate company. The report, which is the only in the industry to analyze tour and offer data, may encourage potential... Read More

A Foreclosure Is Killing My Credit, What Do I Do?

Credit Score

A Foreclosure Is Killing My Credit, What Do I Do?

A Foreclosure Is Killing My Credit, What Do I Do?

Foreclosures can do a number on your credit report, even for years after they happened. With the Great Recession causing an upheaval in the housing market and many homeowners behind on payments, the aftermath of foreclosures is still a reality for many Americans today. One reader wrote into us, asking for help with a foreclosure... Read More

Airline Rewards Credit Cards: How to Pick One

Credit Cards

Airline Rewards Credit Cards: How to Pick One

Airline Rewards Credit Cards: How to Pick One

Credit cards that offer airline miles are some of the oldest and most popular types of reward cards, and people are lured into these products by the tantalizing prospect of a free flight. But how do cardholders pick the right reward credit card? Here are a few of the most important questions to answer when... Read More

What Happens to Your Social Security Benefits When You Die?

Personal Finance

What Happens to Your Social Security Benefits When You Die?

What Happens to Your Social Security Benefits When You Die?

If you rely on your spouse’s Social Security check to pay your bills — or if your spouse relies on yours — you need to understand what happens to that money when the recipient of those benefits dies. Depending on the timing, your financial institution may have to return payments to the government. And that... Read More

What Is Innocent Spouse Relief?

Personal Finance

What Is Innocent Spouse Relief?

What Is Innocent Spouse Relief?

Most married couples take advantage of joint filing for the money-saving benefits. But along with the savings comes big disadvantages. When you file jointly, you’re held liable for your spouse’s tax blunders. This means if your spouse under-reports income, you get the blame, too. And it means that the IRS can come after your tax... Read More

Spring Cleaning: How to Organize Your Finances

Personal Finance

Spring Cleaning: How to Organize Your Finances

Spring Cleaning: How to Organize Your Finances

Spring has traditionally been a time for cleaning our homes and clearing away the clutter that has accumulated throughout the winter. It’s a satisfying approach to the season because it gives us the feeling of starting fresh. There’s no better way to put a spring in your step (no pun intended) than by freeing yourself... Read More

Student, Auto Loans Lead Borrowing Growth

Personal Finance

Student, Auto Loans Lead Borrowing Growth

Student, Auto Loans Lead Borrowing Growth

Borrowing among consumers rose in February, according to a new release by the Federal Reserve. In February, Americans borrowed a total of $18.2 billion, a gain of $12.7 billion from January. Total borrowing in the country rose to a seasonally adjusted $2.8 trillion. The report stated that borrowing for the month set a new record... Read More

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