Credit Card Q&A: “Should you pay off your credit card in full?” While this may sound like an absolute no-brainer, it’s clear that many people still don’t know the answer to this very fundamental question. First a little background on how credit cards work. When you apply and get approved for a credit card, it… Continue reading Should You Pay Off Your Credit Card In Full?

File this one under deadly credit scoring myths. For some reason, probably due to the clandestine nature of Fico’s credit scoring algorithm, many consumers believe carrying a balance on a credit card will benefit their credit score somehow. This can’t be further from the truth, and in reality, can be quite detrimental to one’s finances.… Continue reading Maintaining a Credit Card Balance Doesn’t Help Your Credit Score

Credit Q&A: “Do you need a credit card to build credit?” Being credit score conscious seems to be all the rage these days, along with being green and reducing your carbon footprint. It seems everyone is now obsessed with their credit score, which isn’t necessarily a bad thing. The only downside is the misinformation that… Continue reading Do You Need a Credit Card to Build Credit History?

Credit card Q&A: “What credit card approves everyone?” Ah yes, the age-old question, typically asked by someone with a less than perfect credit score. Well, without further ado, prepaid credit cards do not require approval. That’s right. 100% approval folks! But that’s not necessarily a good thing, or anything special. Why do you think financial… Continue reading What Credit Card Approves Everyone?

Credit cards aren’t for everyone. Some people simply aren’t responsible enough to carry credit cards. And others may not have the credit history necessary to obtain one. Then there are those that just like to use cash. Of course, banks know this, which is one of the major reasons why they offer debit cards. If… Continue reading Debit Card vs. Credit Card