Credit

Credit, Tips & Advice

Using Your Home To Avoid Debt

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“I have plenty of experience going into debt. I’ve spent over half my life paying down a mortgage. I’ve taken out more than one home equity loan and have made more than my share of car payments. Have I ever been debt-free? Yes, for the first 18 years of my life. But now that I’m approaching retirement, I am nearing that state of equanimity once again. So I know how to get in and also how to get out.

There are plenty of ways to dig yourself deeper into the hole. For most of us, these are the top five debt traps…”

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Image by Catherine Scott via Wikimedia Commons.

Credit

Microchip Credit Card Technology Not The Solution

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As time goes by, more and more credit cards are receiving new microchip technology.

The purpose of this technology is to generate new information for each purchase so that predators cannot reuse the information.

It sounds good in theory, however many believe that this only raises the cost for identity thieves, and does not protect online transactions.

Image by Lotus Head via Wikimedia Commons.

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Credit, Tips & Advice

Credit Moves That Could Effect Your Mortgage

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When getting a mortgage, credit can be a major concern, and there are a few key factors that could make or break your mortgage.

While in approval stages, there are red flags that could have an impact on your mortgage.

For instance, if your mortgage is in its final stages, it is not a good idea to apply for other credit, dispute a creditor, max out a credit card, or carry a high balance of debt.

These could have a negative impact on your mortgage.

Image by Catherine Scott via Wikimedia Commons.

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Auto Insurance, Credit, Tips & Advice

Low Credit Score May Cause Car Insurance To Rise

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Drivers may be paying higher auto insurance premiums based on their credit scores.

A study by WalletHub.com finds that there is a 65% difference in insurance costs between those with high credit scores and those with low credit scores.

State law in California, Hawaii, and Massachusetts outlaws insurance providers from using credit score as a determinant, but it is a regular practice in the other states.

Image by epSos.de via Wikimedia Commons.

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Credit, News

MasterCard Extending Zero-Liability

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After security breaches like one of the magnitude of the Target scandal, MasterCard is making strides to make its cardholders feel safer.

The credit and debit card company is extending its zero-liability protection to all PIN-based and ATM transactions, taking effect in October. The protection currently only protects transactions made by signature, leaving a cardholder vulnerable if a thief gets a hold of his or her personal identification number.

Image via Twitter/MasterCard

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