woman on the phone asking for a credit limit increase

Should I Ask for a Credit Limit Increase?

All new credit cards come with a credit limit, which is the amount you can charge up to on that card. Depending on the type of credit card and your credit history, the credit limit may be anything from a few hundred to many thousands of dollars. After you’ve used the card for a while, you may find yourself thinking you’d like to have a higher l...


adding an authorized user to your credit card

Adding an Authorized User — What You Need to Know

If you have a credit card in good standing, chances are you have received communication from the credit card company offering you the opportunity to add an authorized user to your account. It’s a quick, easy process. But there can be real financial consequences if you’re not careful about who you allow to charge on your account. Here’s what y...


Red ink past due stamp to represent credit card delinquency

What Happens with a Credit Card Delinquency?

When you’re running short on cash, it might not seem like a big deal to miss a credit card payment or two. You’ll make plans to catch up the following month, only to find that money is still tight. By the time the late payment hits the 30-day mark, the delinquency can start to affect your credit. Let’s take a look at what happens when you bec...


neon sign with facts and myths to represent credit card myths

Busting 5 Common Credit Card Myths

70% of Americans have at least one credit card, and 34% carry three cards or more. As widespread as credit cards are, so are some persistent myths that surround them. Let’s separate fact from fiction when it comes to these credit card myths.     MYTH: Paying Even One Day Late Hurts Your Credit Score  While it’s true your payment history m...


Young woman and man discovering they have received a higher credit limit

Everything You Need to Know About Credit Limits

Using credit responsibly includes understanding credit limits and how they can affect your finances. Let’s take a look into some common questions surrounding credit limits and what they mean for consumers. What is a Credit Limit? When a consumer opens a new credit card, that card includes a credit limit, which is the amount of credit available...


Black woman shopping online deciding to use a point-of-sale loan

Point-of-Sale Loans — What You Need to Know

Remember layaway? It was a service many retailers offered that allowed customers to buy now and pay later without using credit cards. A customer would select their items, place them on layaway, make a small down payment, and then pay the balance in installments. Once paid-in-full, the customers took home their items. It was an efficient system that...


fact vs myth directional signs drawn on a blackboard

Busting the Myths About Credit Repair

When it comes to getting out of debt and achieving financial freedom, there are a lot of myths surrounding the many ways to accomplish that. Credit repair is one those methods that many people misunderstand. Keep reading to separate the facts from the myths about credit repair.     Myth: Credit repair works to improve credit instantly Fact: T...


understanding private student loans

What You Need to Know About Private Student Loans

When most people hear “student loans,” they’re thinking of federal student loans that are issued by the Department of Education and managed by a variety of loan servicers. But in addition to these widely known federal student loans, there are also private student loans. These are loans issued by banks or other financial institutions directly ...