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, [...]

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 [...]

   A few years after it was first announced, FICO 08 is finally being used.  This updated version of the FICO score became available from TransUnion (TU), one of the three major credit bureaus.  The full name used by TU is FICO Risk Score Classic 08 and it has some major changes from previous FICO score [...]

   Well, these certainly are not typical times.  This week, American Express announced that it was offering a $300 prepaid gift card to some customers to close and pay off their accounts by the end of April.  They said it is a move to help reduce the risk of future defaults for the company and [...]

   Many people believe they should close their credit cards when they are paid off.  While some people may need to close them to stop themselves from using them and increasing their debt, this will almost always have a negative impact on credit scores. 

Part of a good Financial Fitness Plan includes getting better credit scores.  Part of [...]