Category Archives: Credit
Bad credit can happen to anyone. You lose your job, get sick, have a major unexpected expense — anything that puts you behind on your bills and deeper in debt. Even if you manage to get back on track, missing even a few monthly payments can hurt your credit score, making it difficult or even impossible to get credit for several years.
However, the good news is that you can still go back to school even if your credit stinks.
The decision to borrow money should never be undertaken lightly. Any type of loan will come with its own rules and terms, which you will need to adhere to in order to prevent your loan from affecting your credit rating, business or even your home.
The majority of loans are obtained from banks or independent lending providers. The most common application processes are completed either online or by way of a face-to-face meeting. Before you apply for a loan or mortgage, you will need to decide how much you need to borrow. Borrowing too little may mean that you are unable to achieve your goals, but borrowing too much might make it harder to pay back your loan.
For many people the term ‘credit card’ has become quite scary as we have been convinced that all debt is bad. For a group of people though – known as churners – credit cards are actually a bit of a money spinner as they maximize the rewards available on some credit cards to their advantage, paying off the balance in full at the end of every month to avoid the interest but enjoying all of the not so hard earned rewards. Some people even spend on the cards, take the rewards on offer and then cancel the cards before you have to pay any of the fees on those cards.