Finance Globe

U.S. financial and economic topics from several finance writers.

Swearing Off Credit Cards May Be a Bad Thing

Credit cards have sort of a bad reputation, which isn’t completely the fault of the credit card itself. Often, people get themselves into credit card trouble by mishandling them. Nevertheless, that bad reputation has many people swearing off cards so as to avoid debt. However, avoiding credit cards can have other negative consequences. Difficulty Building a Good Credit Score Your credit score is based primarily on your history with debt instruments like credit cards and loans....
Continue reading
  3825 Hits
  0 Comments
3825 Hits
0 Comments

Don't Neglect Old Credit Cards

As you apply and are approved for newer credit cards with higher credit limits, attractive rewards, and better interest rates, you might forget about the cards you were using years ago. Because these old credit cards still impact your credit history – and sometimes even your monthly finances – it’s important that you pay attention to them, at least a few times a year. Be careful about letting old cards remain stagnant. If they remain dormant...
Continue reading
  6006 Hits
  0 Comments
6006 Hits
0 Comments

A New Credit Card Fee May Be on the Way

Retailers may start charging a fee to consumers who use their credit cards. For years, merchants have paid a processing fee for credit card purchases. It’s one of the reasons that many smaller retailers don’t accept credit cards. The recent change is the result of a lawsuit settlement between merchants and processing networks Visa and MasterCard. Merchants can assess a fee for credit card purchases, but it doesn’t necessarily mean they will. Those stores that do...
Continue reading
  3865 Hits
  0 Comments
3865 Hits
0 Comments

4 Reasons to Pay Bills Even When You Don't Want To

It’s a basic fact of life that you’ll have to do things you don’t want to do. Wake up early when you really want to sleep in. Postpone vacation because you have other financial priorities. And, pay bills that you really wish you could just blow off. It’s easy to think that we can skip certain debts because they’re owed to big companies who won’t miss our pocket change. Maybe they won’t miss your money. But,...
Continue reading
  3421 Hits
  0 Comments
3421 Hits
0 Comments

FICO and CoreLogic’s New Mortgage Score Could Help You Qualify

Traditional credit reports and scores don’t typically take into account all the bills that you pay on time like clockwork each month – like your rent and utilities. In some ways, it’s unfair that you could get turned down because you missed a few credit card payments several years ago when you pay so many other bills on time each month. Lenders don’t really get a complete picture of your financial habits when you’re applying for...
Continue reading
  1586 Hits
  0 Comments
1586 Hits
0 Comments

Credit Card Spending

Consumers started racking up their credit cards again in May as revolving credit increased by a whopping 11.2 percent - or $8 billion - for the largest one-month gain since 2007, according to data released by the Federal Reserve on Monday. Overall, consumer credit grew at an annualized rate of 8% as consumers added $17.1 billion of credit in May for the largest jump in five months, and is close to levels from before the recession....
Continue reading
  3727 Hits
  0 Comments
3727 Hits
0 Comments

How to Cure a Credit Card Delinquency

The consequences of a credit card delinquency are too serious to ignore. Not only could you have to pay a late fee, your interest rate might increase to the highest default rate. Late payments past 30 days are reported to the credit bureaus monthly until you catch up again. The more serious the delinquency, the worse it is for your credit report.You only have a certain amount of time to correct a credit card delinquency before...
Continue reading
  4776 Hits
  0 Comments
4776 Hits
0 Comments

Consumers Say Overspending is the Biggest Financial Regret

Financial mistakes are bound to happen. Some are worse than others. According to a poll from the National Foundation for Credit Counseling, the biggest financial regret is habitual overspending. More than 2,200 people responded to the poll and 53% agreed with the top pick. Other responses: Inadequate savings, 18%Insufficiently preparing for retirement, 14%Not having a house, 10%Having purchased a house, 5%. A Few Consequences of Overspending One of the problems with overspending is that it keeps...
Continue reading
  3650 Hits
  0 Comments
3650 Hits
0 Comments

June Unemployment Unchanged at 8.2%

The economy gained a mere 82,000 jobs and the number of unemployed remained virtually unchanged at 12.7 million in June, the Labor Department’s Bureau of Labor Statistics reported on Friday. The jobs gain came predominantly from professional and business services, and most other major industries changed little over the month, the Bureau said.The 8.2 percent national unemployment rate also remains unchanged from the previous month and has hovered between 8.1 percent and 8.3 percent for all...
Continue reading
  3231 Hits
  0 Comments
3231 Hits
0 Comments

FTC: Latest Scam "Free Money from the Government

Con artists have no qualms about taking advantage of people during hard times. You may have heard or seen ads that promise the government has free money to help you pay your bills, but the Federal Trade Commission warns consumers that it is a scam:"There is currently money available NOW right here in your area, to help pay your bills.""NO lines, NO waiting, NO credit needed. This is YOUR money and will be sent back to...
Continue reading
  4526 Hits
  0 Comments
4526 Hits
0 Comments

By accepting you will be accessing a service provided by a third-party external to https://www.financeglobe.com/