One of the things you have to be wary of when using credit cards is falling into the rewards trap. As credit card offers start reappearing in mailboxes, it can be tempting to get a shiny new rewards credit card. After all, credit card rewards can provide you with a number of perks, from free airline tickets to discounted merchandise to cash back.>>> [Read More]
Category Archives: Credit and Debt
Is Now Really the Time to Build Up Savings Instead of Paying Down Debt?
Recently, there has been some thoughts that maybe now is the time to slow down on debt repayment and focus on building up your emergency savings. While it is true that an emergency fund is a good idea, is now really the time to be saving up more instead of paying down high interest credit card debt?>>> [Read More]
Debt Management vs. Debt Settlement
Getting out of debt can be a tricky proposition. There are a number of programs that purport to help work through your debt issues, but you need to be careful. While some can provide needed assistance, others are little more than scams. One of the distinctions you should make when deciding what debt plan to go with is that between debt management and debt settlement. It is important to note that your mortgage obligation is usually not included in these types of arrangements.>>> [Read More]
Why Closing a Credit Card Account Can Affect Your Credit Score
When people pay off debt, many of them rush to close credit card accounts. Indeed, the process can be quite therapeutic. You pay off a credit card, and, to celebrate your freedom from the chains of the debt (and being on the wrong side of compound interest), you cut up the card and cancel the account.>>> [Read More]
