Monthly Archives: February 2023

When you fall behind on a credit card bill, a loan payment, or other type of outstanding debt, your outstanding balance may be picked up by a debt collection agency. From that point on, you may receive regular phone calls, letters, and other correspondence as the debt collectors attempt to recover the debt. Having overdue […]

Managing your own finances can be confusing. There is so much to keep up with, such as credit reports, credit scores, credit history, debt to income ratios, credit utilization ratios, and more. All of these factors can indicate how financially responsible you are to credit reporting agencies. The credit utilization ratio in particular is one of the most important factors that creates a good credit score. The ratio is basically how much credit you’re currently using divided by how much available credit you have, and it’s a big indicator of financial health.

Two of the most common debt repayment methods out there are the debt snowball vs. debt avalanche methods. Both methods work by speeding up the debt repayment process. But one method prioritizes the smallest balance first, while the other method prioritizes debt with the highest interest rate first.

You’ve likely heard about the importance of building credit your whole adult life. But what does this actually mean? Simply, credit is the metric that lending institutions like banks use to measure your fiscal responsibility. Because of this, the concept of credit and credit cards seem pretty inextricably linked. But still, many don’t know how to build credit without a credit card.