Credit & Debt

Smart Quiz: When Should You Cancel an Unused Credit Card?You Should Never You Should Always If It Has a Fee If High Interest RateAnswer: If It Has a Fee Between paying down debt and boosting your credit score, balancing finances can be challenging. The ultimate goal is to have enough buying power to make big purchases at a stellar...

Smart Quiz! The Only Time It’s OK To Give Out Personal Financial Information Over The Phone Is When… Answer: You Called First Sophisticated scam artists are calling people from what appears to be their bank’s Caller ID and will seem to have your personal banking information, including digits of your account number, home address, employment information, mother's maiden name, and even items...

Smart Quiz: ONE Payment Method Offers The Most Protection From Fraud and Theft a. Gift Cards b. Credit Cards c. Debit cards d. Pre-paid Cards Answer: Credit Cards There is nothing quite as gutting as swiping your debit card to make a purchase, only to find it’s been declined. When your debit card has been compromised, all of your accessible cash is at risk and...

Smart Quiz: Which of the Following Does Not Impact Your Credit ScoreMortgage Car Loans Income Student LoansAnswer: Income Of all the times people might worry about their income, they shouldn’t when they are looking at their credit score or report. Income history doesn’t show up or factor into your credit report or score. Credit reports are just indicators of past...

Borrowers Looking for Flexible Lending Will Love This Loan A peer-to-peer loan allows for lending without a bank. The loans are funded by individual investors looking for creative ways to profit off of interest rates. These loans happen online and are often facilitated by an organization that charges a small fee to make a little money themselves.There are good reasons...

Smart Quiz: One of the Most Common Frauds Against Debit and Credit Cards is...Skimming BIN attack Card not present Identity TheftAnswer: Card not present You’ve probably heard at least one horror story about someone trying to use their debit card and finding it declined for insufficient funds; or someone who has received a dreaded call from the bank to...

Smart Quiz: What is the Leading Cause of Bankruptcy in the US? a. Medical Debt b. Fraud and Scams c. Home Foreclosure d. Outliving savings Answer: Medical Debt Bankruptcy filings are usually thought to be caused by irresponsible spending habits and poor life choices. In many cases they are, but in reality, the #1 reason people file for bankruptcy in the United States is medical...

Choosing a Credit Card: Look for These Important Features Obtaining credit can be just as challenging as keeping a FICO score in an acceptable range. For cardholders, whether they are just establishing credit or rebuilding due to some setbacks, there are plenty of card options that can put more money back in their pockets and also reward them for...

Think Twice About Lending to Loved Ones Helping out a friend or family member who is facing financial pressure is certainly generous, but it isn’t always a good decision for everyone involved. There are risks associated with acting as a lender or cosigning on a loan. Before making the decision to help out someone you care about, think about the...

Get the Facts Before You Decide The decision to file for bankruptcy isn’t one to take lightly. Individuals who are facing large credit card balances, medical bills and past-due mortgage payments can use this option to get out from under insurmountable debt. However, it’s a choice that should be avoided if possible. Bankruptcy isn’t an easy fix, there are lasting consequences...