3 Common Credit Myths That Could Damage Your Score

Financial misinformation is rampant, and it could be hurting your credit score. A new NerdWallet survey finds that Americans hold many misconceptions about their credit, some of which could seriously damage their scores. Here are three common credit score myths and how to guard against them. Myth 1. Leaving a balance on your credit card is good … Continued

The 15/3 Credit Card Hack Is Nonsense — Here’s What to Do Instead

Sometimes a grain of truth about a financial topic can morph into something that’s just plain misleading. One example is the 15/3 credit card payment trick — or hack — that you might have seen touted on the internet and social media as a secret tactic for improving bad or mediocre credit. The 15/3 hack claims you … Continued

The 15/3 Credit Card Hack Is Nonsense — Here’s What to Do Instead

The 15/3 Credit Card Hack Is Nonsense — Here’s What to Do Instead Sometimes a grain of truth about a financial topic can morph into something that’s just plain misleading. One example is the 15/3 credit card payment trick — or hack — that you might have seen touted on the internet and social media as a … Continued

How to Score Points in the Credit Game

Credit scoring can feel like a frustrating game — falls can be sudden and swift, and climbing is a slow slog. In reality, “all scoring models and lenders are aiming to do the same thing, which is to minimize risk,” says Jeff Richardson, senior vice president of marketing and communications for VantageScore, one of the … Continued

For Young Adults, Building Credit Starts Now

Sooner than you may realize, your credit score will start to matter. A solid credit score can be the difference between qualifying for an apartment or a low-interest car loan or missing out. So to have credit ready when you need it, the time to start building a good and lengthy credit history is now. There’s more … Continued

Care About Your Credit Score? Get Strategic With Card Limits

If you have credit cards in your wallet, you might track your balances to keep your budget in check, but knowing each card’s credit limit off the top of your head is another story. However, actively managing how much of your credit limits you are using — also known as your credit utilization ratio — … Continued

What 6 Financial Planners Wish They’d Known About Credit Cards

As a boy, Travis Tracy watched his mom struggle with credit card debt. Consequently, he avoided credit cards until age 23. John Bovard, Ron Strobel, and Marcus Blanchard grew up hearing horror stories about credit card debt and so they steered clear as young adults. Marguerita Cheng says she was initially afraid of credit since … Continued

How to Fill In Your Financial Blind Spots

Knowing enough about money to cover your bills is a start, but it’s not enough financial literacy to provide long-term security. Most of us eventually wonder what else we should be doing — and whether what we don’t know could hurt us. “When you have a blind spot, you don’t realize until something blindsides you,” … Continued

5 Credit Card Red Flags to Avoid

Choosing the right credit card can be difficult, especially if you have poor credit (FICO scores of 629 or lower) or are new to credit cards entirely. Plenty of cards can help those with limited choices, but some options — including certain unsecured credit cards for bad credit — are more costly and potentially more perilous than others. These … Continued