People already know that bankruptcies, foreclosures, repossessions, and collections will hurt credit. And it’s no big secret that late payments are one of the causes of bad credit.
But I bet you don’t know about some of the things that hurt credit! Today’s blog is about the first of three dirty little secrets that will hurt [...]
Archive for the ‘Credit Cards’ Category
A Dirty Little Secret that Hurts Credit
Posted by Philip Tirone on September 9th, 2010
Posted in Credit Cards, Credit Scoring 
Tags: bad credit, credit card limit, credit card score, hurt credit, utilization rate 
1 Comment »Credit Cards for Bad Credit
Posted by Philip Tirone on September 3rd, 2010
Credit Cards for Bad Credit – Helping or Hurting Your Credit Card Score?
Certain credit cards target people with bad credit—we call these “credit cards for bad credit.” And what the banks won’t tell you is that some credit cards for bad credit will hurt your credit score, while others will help your credit card [...]
Ready to Transfer Credit Card Balance? Read This First!
Posted by Philip Tirone on June 11th, 2010
Offers to transfer credit card balance to a low-interest card might be seductive. I’ll save money and lower my parents, you might think.
Not so fast! Before you transfer a credit card balance, be sure you understand how the process can benefit you or hurt your credit card score. That’s right—it could hurt you.
Let’s take a [...]
Best Rewards Card – the Starwood American Express
Posted by Philip Tirone on May 26th, 2010
Because a person aiming for a good credit card score should only have three to five credit cards, my readers often ask what the best rewards card is. After all, if you are going to carry credit cards, you might as well earn points!
But before you pick out a reward card, make sure it’s the [...]
Posted in Credit Cards Tags: best rewards card, credit card score, Credit Cards, Philip Tirone 3 Comments »Negotiating with Debt Settlers, and Other Ways to Lower Your Credit Card Debt and Increase Your Credit Card Score
Posted by Philip Tirone on May 19th, 2010
Negotiating with debt settlers can be painful. Just ask Steve.
Steve obviously has not taken the right steps to get his credit cards under control. Like many people, he might have buried his head in the sand, worried about how he will ever get those mounting credit card bills under control.
Guess what, Steve? They aren’t going [...]
Pre-Approved Card Credit Offers
Posted by Philip Tirone on May 11th, 2010
If you are like most people, you have received several pre-approved card credit offers in the mail advertising low interest rates, an amazing new credit limit, or other special benefits. You might be wondering how these pre-approved card credit offers will impact your credit card score and whether they are a good deal.
Keep in the [...]
Secured Credit Cards: Should You Avoid Them or Apply for Them?
Posted by Philip Tirone on May 7th, 2010
In a lot of ways, secured credit cards sound like a raw deal. Basically, secured credit cards—typically for people with poor credit and low credit card scores—require you to pay a deposit that is equal to or greater than the limit before the card will be activated. Then, you can use the account as you [...]
Posted in Credit Cards Tags: credit card score, Credit Cards, Philip Tirone, secured credit cards 2 Comments »Credit Card Consolidation Help
Posted by Philip Tirone on March 31st, 2010
Many of our readers want credit card consolidation help. And it stands to reason. According to a Federal Reserve Statistical Release on consumer credit, Americans have a combined credit card debt of $864.4 billion, a figure that is expected to grow to $1,177 billion by the end of the year.
When looking for credit card consolidation [...]
Posted in Credit Cards Tags: Credit Card Consolidation Help, credit card score, Philip Tirone No Comments »Credit Cards and Credit Scores
Posted by Philip Tirone on March 17th, 2010
Many people wonder about the relationship between credit cards and credit scores. While credit cards can be great tools in enabling you to purchase goods and services without having the cash on hand, they can also present an almost irresistible temptation to spend money you don’t have and mess up your credit score. What you [...]
Living Debt Free
Posted by Philip Tirone on March 17th, 2010
… With Credit Cards
Although most people live with credit as a daily part of their lives, many others persist in living debt free, using cash to conduct all transactions and never purchasing anything on credit. If you have ever suffered a financial crisis, you might be inclined to join the ranks of these people, wiping [...]
Posted in Credit Cards, Featured Posts Tags: credit card score, Living debt free, Philip Tirone 7 Comments »
A “credit card score” is a letter grade that reflects whether your credit card habits are helping you build credit or causing you to have bad credit: An “A” credit card score is excellent; an “F” indicates that you likely have bad credit. The lower your credit card score, the more likely you have bad credit and need to make immediate changes to your credit card behavior.