July 26th, 2010
Monday Jumpstart to Personal Finance & Credit Report News
A new bill introduced in Congress last week aims to protect homeowners from a nasty credit score hit when applying to modify a mortgage, reports the Chicago Tribune. A mortgage modification typically lowers a homeowner’s credit score because the homeowner’s credit history reflects that they are no longer paying the mortgage according to the original terms. Homeowners applying for a permanent or temporary modification, some with great credit, are typically hit with a 100 point drop.
Credit score damage that substantial can prevent a consumer from getting loans, credit card, or even cost them a job. This bill, making its way to the Congressional floor, hopes to cut unfortunate homeowners a break on their credit so they are no longer penalized.
For more credit score and credit report news, plus awesome tips to keep up with your personal finance, check out our favorite picks from around the web!
July 20th, 2010
This Week’s Top Credit Questions
What do on-time payments, bad scores, and recent immigrants all have in common?
All three of these interesting topics made it to our top Credit Advice Center questions this week!
July 19th, 2010
Monday Jumpstart to Personal Finance & Credit Report News
Consumers are just waiting for the ax to fall on the next bank cutting out free checking accounts. Check out the Free Checking Account Watch List to see if your own bank’s free checking is already on the chopping block.
July 12th, 2010
Monday Jumpstart to Personal Finance & Credit Report News
Since the recession hit, Americans' credit scores have been steadily sinking, reports MSNBC.
An increase of 2.4 million people have shifted to the lowest end of credit scores in the past two years....
July 6th, 2010
Answers To Your Credit Score & Credit Card Questions
If you are looking for all questions and topics that are credit-related, you’ve stumbled into the right place! The Credit Advice Center at Credit Karma is keeping busy with hundreds of questions asked by consumers and answered by consumers too.
Below is a glimpse of conversations popping up right now. And feel free to stop by the Credit Advice Center yourself and submit a question of your own, or browse through posted questions and suggest an answer! It’s the new way to empower yourself through consumer-generated knowledge.
July 6th, 2010
Monday Jumpstart to Personal Finance & Credit Report News
Pessimism on the job front increases as a record 1.21 million people who want to work are giving up the job search out of hopelessness, reports CNN Money. This June figure increased from 793,000 just a year ago. These unemployed Americans are not counted in the current unemployment rate because they haven’t been looking for work in the past four weeks, showing just how bleak employment prospects are in America.
One expert determined that the unemployment rate, now at 9.5%, will hover around 10% through to early 2011. CNN Money adds, “The decline in the unemployment rate is not a reflection of strength, but rather a sign of discouragement among the ranks of the unemployed.”
Don’t let the unfriendly job market keep you down. A healthy financial future starts with empowering yourself, such as reading the following personal finance news and advice in today’s roundup. Good luck on the job front and stay motivated!
July 2nd, 2010
Celebrate Your Financial Independence! Your Credit Score Will Get You There
As we celebrate America’s Independence Day, why not start working on your own financial independence by better managing your credit score. In working towards financial independence, your credit score is a crucial initial step to better financial health, as well as something that stays with you throughout your entire life.
Since credit scores are calculated from your credit report, it’s a good and accurate snapshot of your general financial health. How does credit score = financial independence? In a nutshell, your credit score is your key to having financial options. The higher your credit score, the more doors it opens. Credit scores impact almost every financial product, specifically approval for credit cards, ability to borrow money, and interest rates offered by lenders.
Everyone’s path to financial independence will vary, but addressing the five main components of a credit score is a foundation you need to build:
June 29th, 2010
More Credit Score Help At The Credit Advice Center
Guess which question is heard most often around the water cooler at the Credit Advice Center.
“How do I improve my credit score?”
This question pops up frequently because the Credit Advice Center is becoming a real community forum for discussions around the topic of credit, especially the mystery surrounding credit scores. So, we will be bringing you even more credit score and credit advice posts here at the blog, so stay tuned…
In the meanwhile, consumers at the Credit Advice Center are helping each other navigate these tricky financial issues. Check out the conversations buzzing at the Credit Advice Center right now:
June 28th, 2010
Monday Jumpstart to Personal Finance & Credit Report News
We typically report on the state of the economy or the latest buzz around credit cards to introduce roundups. But today we’re sharing a more personal look.
The Money Crashers blog post, What I Wish I Had Taught My Daughter About Money, shares some fun and thoughtful financial insights that we wish we knew when we were younger, such as Always meet your financial obligations no matter how tough it might be, and, It’s not about whether you have a lot of money or a little, it is about living within your financial means, are a good indication–rather than stock prices and interest rates–of the state of our financial lives.
And my favorite is Treat yourself within reason every once in awhile. Depriving yourself is not healthy.
Today’s roundup is all about changes in your credit score and how to save more money, two big steps towards improving your financial outlook. Happy reading and welcome to the start of your work week!
June 22nd, 2010
When Life Gives You Bad Credit… Repair It At The Credit Advice Center
Consumers are submitting their credit questions and offering each other smart answers in our freshly-launched Credit Advice Center. These consumers are busy making lemonade out of lemons by turning their financial struggles into community knowledge.
Can you believe we have nearly 700 questions and counting from just the last two weeks? The Credit Advice Center is quickly becoming a hotspot as the number of incoming questions shows the need for more credit knowledge and advice amongst consumers. In response, others are submitting advice, their own experiences, and showing off their credit know-how to show that we can help each other become more credit-savvy consumers.
Check out the Credit Advice Center today and post your burning credit-related questions or share your thoughts!
Here are some conversations buzzing at the Credit Advice Center right now:
