How Credit Card Debt Affects Your FICO Score
The amount of money you owe on credit cards can go a long way when it comes to your FICO score. In other words, the amount of debt you owe makes up a significant portion of your FICO score, so it is best to always stay on top of your debt load.
Your FICO score is determined using a number of factors including: your payment history; the total amount of your debt; the length of your credit history; how much new credit you have; and what type of credit you carry. Although the importance of each of these factors varies a bit, it is known that the amount of debt you have makes up about 30 percent of your FICO score, thereby making it a very important factor to consider.
What to Consider
The amount you owe includes: the number of debts you have; the types of debt you have; and the amount of debt on those accounts.
Post Tags: Credit Card Fico Score Score
Sound Advice from Unlikely Sources: The Avengers and Credit Card Debt
Last Saturday, I went to see my first superhero movie ever. Yes, you read that right. I have never seen “Superman,” “Spiderman” or any other superhero film. But when my friend invited me to go see “The Avengers,” I figured that there would not be a better superhero movie to start with; it’s chock- full of superheroes, like the Hulk, Iron Man and Captain America. The movie did not disappoint!
But not only is “The Avengers” full of jaw-dropping special effects and hilarious one-liners, it’s also a great source of financial advice. (Thats what we do here, after all; seek financial advice from unlikely sources.) Here are a few ways to wage war on credit card debt, Avengers’ style.
Don’t be afraid to ask for help.
Refinance Home Mortgage, the Good, the Bad and the Not So Ugly
If you are contemplating refinancing your home mortgage loan in order to improve your current financial stability, there are some trends worth considering.
Did you know that in 2009, America witnessed a jump in the number of refinancing applications? However, this increase did not translate to any distinct escalation in the number of mortgage refinance processing activities (or mortgage originations) for the year.
Post Tags: Home Mortgage Mortgage
Loss of Credit Card Perks
If you have taken out a credit card and have used some of the little perks that the credit card companies gave you to entice you to join up with their card, is set for change. Instead of having your purchases protected with insurance and some offered cover for your car in case of a breakdown, will now be changed to offering you smaller perks that you can use from day to day. These will include such things as discounts on CD’s and holidays, which may seem a lot more useful to many.
Credit Cards
Many banks and credit card issuers have started to take the old perks away, but with the introduction of the new ones has been seen as a less than useful compared to the purchase protection insurance, travel insurance and breakdown cover that were worth more, even if they were not used as much. S
Post Tags: Credit Card Perks
15 Year Mortgage Loan – A Significant Way to Save Money
Mortgage rates are at historic lows and if you have currently got a home loan, you may be wondering if you can take advantage of this once-in-a-lifetime opportunity. Depending upon what your mortgage rate is now, it is possible a term refinance into a new 15 year mortgage that could make your payments about the same as your current 30-year loan. It will potentially help you save thousands of dollars in interest over the life of the loan.
The Census Bureau’s 2009 American Housing Survey revealed that around 24.1 million first mortgage loans had an interest rate more than six percent. I
Post Tags: Loan Mortgage Loan
Focus on: HSBC personal loans
The loan war continues to rage, with HSBC announcing that it is slashing the representative APR on personal loans of between £7,000 and £15,000 from 6.9% to 6.4%.
The new rate, which is available until November 13, makes it one of the most competitive deals for loans of this size currently on offer.HSBC loans are only available to the bank’s current account customers, though. < Find more
Post Tags: Loans Personal Loans
Drive down car insurance costs
The Office of Fair Trading (OFT) is to investigate the soaring cost of car insurance to establish whether drivers are being overcharged for cover, but in the meantime there are plenty of steps motorists can take to keep premiums down.
Premiums for annual comprehensive car insurance have risen by a massive 40.1% in the 12 months ending 31 March 2011 according to the AA’s British Insurance Premium Index, with experts blaming the increase on our compensation system that encourages “spurious and exaggerated” personal injury claims. Find more
Post Tags: Car Insurance Insurance