Credit Repair

  You've probably heard a friend brag about how great their credit card rewards are, and how they used them to pay for their trip to Mexico. You've probably heard some other stories as well. People's finances are being taken over by credit card debt. You're hesitant to get a credit card because of these bad consequences. Understanding how credit cards work and how to safely use them might help you avoid dangers such as credit card debt. Then you may take advantage of the advantages and benefits that come with possessing a credit card.   HOW DO CREDIT CARDS WORK? A credit card is essentially a loan. The bank, referred to as the "issuer," will establish a credit limit, or the maximum amount you can spend.   Your payment cycle is around a month-long, and to prevent paying interest, you must pay the balance within the grace period. Typically, your grace period lasts three weeks. The statement closing date is the last day of your billing cycle, and you'll rece...

Our lives have been made easier by being able to access the internet through our cellphones, tablets, and laptops from nearly anywhere on the planet. However, with seemingly limitless information available on the Internet comes a slew of falsehoods, including the term of the day, “fake news.” There’s a lot of misinformation about credit scores and credit cards out there. If you believe some of these myths, you might end yourself paying a lot of money in fees and hurting your credit score. It’s critical to do some study and know all the facts in order to put your best financial foot forward. Here are some typical credit card myths that have been debunked to assist you in improving your credit score. LEGENDARY MISCONCEPTIONS ABOUT CREDIT CARDS Myth: Credit cards are dangerous, and you should avoid them (or else…) When it comes to paying for gas, groceries, and other necessities, you’re much better off using your credit card rather than your debit card. That is, assuming you are fiscall...

Your credit score influences everything from your ability to rent an apartment to your ability to obtain a home loan. Creditors and lenders will examine your credit score and credit report to determine your creditworthiness. If you are approved, the lower your interest rate may be if your credit score is higher and there are fewer red flags on your credit report. Having a foreclosure on your credit report can make it difficult to achieve your financial goals. It takes time and patience to remove a foreclosure. In some cases, you may be able to have a foreclosure removed from your credit report. If you find yourself in one of these situations, you must take action to have it removed. What is a foreclosure? When a mortgage servicer takes over the property of a home because the borrower is no longer able or willing to repay the loan, this is referred to as a foreclosure. By using this legal process to terminate the owner's right to the property, the lender is protecting its interests....