It’s Getting Easier to Get a Credit Card With Bad Credit

Credit Cards

It’s Getting Easier to Get a Credit Card With Bad Credit

It’s Getting Easier to Get a Credit Card With Bad Credit

Consumers with below-average credit scores have had an easier time getting credit cards in the last few years, compared to the immediate aftermath of the financial crisis when credit availability was very limited. Still, credit availability remains below pre-recession and recession levels, according to a report from the American Bankers Association: There were 330 million outstanding credit… Read More

How to Upgrade Your Secured Credit Card

Credit Cards

How to Upgrade Your Secured Credit Card

How to Upgrade Your Secured Credit Card

When people are struggling to rebuild their credit, a secured card can offer them the opportunity to qualify for a credit card and establish a positive credit history. Unfortunately, secured cards also have several drawbacks compared with standard credit cards. For example, secured cards always require a refundable deposit that is held by the card issuer,… Read More

A New Challenge for First-Time Homebuyers?

Mortgages

A New Challenge for First-Time Homebuyers?

A New Challenge for First-Time Homebuyers?

The nation’s second-largest mortgage lender recently raised eyebrows after suggesting it might stop making FHA loans. JPMorgan Chase has already scaled back lending to lower-credit borrowers, citing the increased costs of foreclosure and regulatory action. But the firm’s chief executive went a step further in a conference call last week, noting Chase is “struggling” with… Read More

How to Keep Bad Credit From Killing Your Mortgage

Mortgages

How to Keep Bad Credit From Killing Your Mortgage

How to Keep Bad Credit From Killing Your Mortgage

The credit and financial choices you make today can shape your chances of getting a mortgage in the future. If you have a tarnished credit history, you still may be able to qualify but it will be a document-heavy process. A mortgage is the largest form of credit a consumer can obtain, so be prepared… Read More

The True Cost of Bad Credit

Credit 101

The True Cost of Bad Credit

The True Cost of Bad Credit

Life’s easier if you have good credit, financially speaking. It can be challenging to get to that point, but aiming for great credit is a worthwhile goal, considering how costly it can be to have bad credit. You could have poor credit for a variety of reasons, and if you look at your credit score… Read More

5 Ways to Avoid Bad Credit After a Breakup

Credit Score

5 Ways to Avoid Bad Credit After a Breakup

5 Ways to Avoid Bad Credit After a Breakup

Forget the “till death do us part” mantra — cohabitation has become the new normal in the U.S. Most millennials will move in with a significant other before marriage, and a high percentage of them will end up packing their boxes to leave. A National Center for Health Statistics report found that of those who… Read More

More Americans With Bad Credit Are Getting Auto Loans

Auto Loans

More Americans With Bad Credit Are Getting Auto Loans

More Americans With Bad Credit Are Getting Auto Loans

As the economy has improved, lenders are increasingly giving auto loans to consumers with low credit scores. In a review of second-quarter automobile financing, credit bureau Experian outlined year-over-year changes in the market. Overall, outstanding loan balances increased $69 billion from the second quarter of 2012 to about $751 billion. When looking at the year-over-year risk distribution… Read More

How to Get a Mortgage With Bad Credit

Mortgages

How to Get a Mortgage With Bad Credit

How to Get a Mortgage With Bad Credit

Today, there is still a general consensus that to buy a home you need to have 20% down and a good-to-excellent credit history. The good news is you actually don’t need a large down payment or great credit in order to purchase a home with competitive market terms. Let’s look at the characteristics of what… Read More

How Important Is Your Credit Score?

Credit Score

How Important Is Your Credit Score?

How Important Is Your Credit Score?

“How important is your credit score?” That question was posed to me recently as I stood onstage after delivering a presentation on how to optimize your credit to a group of some 500 women for the annual Women’s Money Conference in Las Vegas. I only had a few moments to summarize the importance of credit… Read More

The 10 Plagues of Bad Credit

Credit Score

The 10 Plagues of Bad Credit

The 10 Plagues of Bad Credit

You may not even realize the impact bad credit has on your life, but if you take a close look, you’ll see that it is likely costing you money, time and even relationships. In the Old Testament, the people of Egypt suffered 10 plagues because Pharaoh wouldn’t allow Moses to lead his enslaved people away…. Read More

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