Understanding what makes up your credit score is important to getting better credit scores.  The second largest part of your FICO score is Amounts Owed and it accounts for 30% of your score.  An important factor in this part is the balances carried on your credit card accounts.  Many people think you have to keep a [...]

We received a question from someone who asked:
Is it better to “pay down” a credit card debt to increase your credit score or to “pay off” a credit card debt?
The short answer is they are both good practices.   Not only for building credit scores but also for limiting the amount of interest you pay.
Credit card [...]

We’ve all seen the ads: “Qualify today and get 12 months with no payments and no interest!” or  “Your purchase free for one year!”  Some people have benefited from this type of financing and saved money be paying the account off before the interest charges kicked in.
However, there are some things that consumers should be aware of, [...]

We all know that the financial and credit landscape has changed dramatically over the past few years.  This is true in the auto industry as well as for people who have filed personal bankruptcy.  With our consulting services, we work with people from all walks of life who have experienced many different situations with their [...]

There are five parts to the FICO score.  The second largest part, accounting for 30% of it, is the Amounts Owed, also called the Utilization Ratio.  This is the difference between the loan amount or credit limit on an account compared to the balance that is currently owed on it.    An important part of growing better credit [...]

As banks and credit card companies continue to reduce credit lines and close credit card accounts, consumers are looking for alternatives.  One such tool can be a Secured Credit Card.
A secured credit card requires you to open and maintain a savings account as security for your line of credit. The amount required for a secured [...]