Available credit: what it is and why it’s important
You know your credit limit, your statement balance, and your interest rate. But what’s available credit? It’s not as simple as it seems.
You know your credit limit, your statement balance, and your interest rate. But what’s available credit? It’s not as simple as it seems.
A balance transfer is essentially paying off one credit card with another. The smartest way to do a balance transfer is to get a card with an introductory 0% APR offer, which enables you to pay the debt off faster and with less interest overall.
Venmo is a convenient service that has helped people stop carrying cash altogether. Read on to learn how you can use it with your credit card.
A HELOC (home equity line of credit) allows you to borrow money based on the equity you have in your home — that is, the value of your home minus what you owe on your mortgage. While they can be handy for getting access to low-interest cash, keep in mind that your collateral is literally your home.
Do you know what your debt-to-income ratio is? A lender will want to know, and so should you. Use this easy debt-to-income calculator to find yours.
Many credit cards offer new customers an introductory 0 percent APR for a limited time. On some cards, the intro no-interest offer applies only to purchases or balance transfers. Other cards offer an intro 0 percent APR on both. Learn why it matters before you apply.
In most cases, your on-time utility and rent payments are not reported to credit bureaus. But that doesn’t mean you can walk out on any of these bills with impunity.
You can make new purchases on a balance transfer credit card, but probably shouldn’t. Here’s why. Plus, other DOs and DON’Ts when transferring a balance.
Becoming an authorized user on a parent’s or spouse’s credit card can be a smart way to build credit. But it’s not without risks.
If you only have 15 seconds to learn how credit works, memorize the graphic above. It shows you the six key factors that make up … Read more