Banks try to strike a balance when customers open new credit card accounts. On one hand, banks want to offer …
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credit limit
I’ve been asked a millions times, “Which of my credit cards should I pay off first? Should it be …
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I can still remember my first day in front of a crowded room of angry, liquored up mortgage brokers.
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The final section of the Credit CARD Act relates to how your payments are allocated, statement mailing requirements, and billing cycle changes.
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Nothing drives me crazier than someone writing an article about credit scores and getting it mostly wrong.
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Last week I spoke to our local association of Enrolled Agents. In case you’re not familiar with what an EA is or does, they are tax professionals who are licensed by the Department of the Treasury to represent taxpayers before all administrative levels of the Internal Revenue Service (IRS), including examination, collection and appeals functions. They are the only professionals tested by the IRS on their knowledge of tax regulations.
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A new FICO report on credit data from the second half of 2008, revealed that 16% of the US population had some reduction in their credit card limits. A majority of these consumers didn’t have any late payments, collection accounts or other negative records to trigger the change.
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We used to do a “Funny Money Friday” post each week here at CreditBloggers. But, as the economy sunk, each week it was getting a little bit harder to find anything funny in the gloomy economic and real estate headlines. So instead, let’s use our Friday’s to focus on the positive. We certainly could use some good news these days.
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My wife and I buy almost everything – groceries, gas, sundries, hardware – on our credit card. We pay it off fully every month. We are never late on a payment. We could just as easily buy everything with cash, but we thought this would help our credit score and we also get 1% to 5% cash back depending on what is bought, so that pays us a couple hundred dollars every few months. I read in a NY Times piece that you folks think this is bad for the credit score. Is that true? If so, why?
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