Is Credit Counseling for Real?
September 20, 2009 by Jennifer Chait
Filed under credit
Credit counseling is an actual tool that people can use to help them get out of money binds, but there are some facts you should know about them.
No one can repair your credit for a fee: If someone says they can, or you read an ad that states, “Will fix all credit issues for a fee” or “Can raise credit scores right away for a fee” don’t buy it. By law, no one can screw with your credit rating or credit report or alter the information.
Credit counseling organizations should be your last resort: It’s not all that hard to work …read more
Credit card tips for college students
August 15, 2009 by Jennifer Chait
Filed under credit
Illinois Governor Pat Quinn just created a law (that was recently signed in) that’s set up to protect college students from racking up credit card issues early on. The law’s goal is to place more responsibility on credit card issuers when it comes to handing out freebies and extras to college kids.
Even with the new law, the Illinois CPA Society notes that college kids still need to practice smart and responsible credit card ownership, such as…
Do shop around before choosing a card. Look at and compare monthly rates, grace periods, transaction fees, rewards, and penalty charges.
Don’t pay late which will …read more
How to check your credit report
April 27, 2009 by Jennifer Chait
Filed under credit, debt/credit
It’s pretty easy to check your credit report, and you should at least annually. It’s smart to look your report over because one, bad credit can stop you from getting a new credit card, an apartment, a car loan, and plenty of other things, and two, there may be incorrect info on your report. Either way, you need to know in order to fix your credit. Another reason you may want your report is if you’re planning on car shopping, buying a home, or doing some other large activity involving credit. This way you know where you stand and can …read more
Basic tips for improving your credit score
November 19, 2008 by Jennifer Chait
Filed under Consumer Information, credit
Around the holidays, many folks turn to credit for at least some of their holiday shopping. That said, I figure it’s a good time to go over some basic tips that will keep your credit score in good standing.
Obvious tips:
Pay your bills on time all the time.
Credit is best used as a tool for ease of shopping, or to gather perks, not as a loan. If you can, pay off your cards in full each month.
Keep your balances low – high revolving credit affects your score negatively.
If you miss payments, catch up as fast as you can. The quicker you …read more
