Tag Archives: credit card debt

Is It Better to Have an Emergency Fund or Pay Off Debt? | Getentrepreneurial.com

Credit card debt increases every day that the debt is outstanding. Interest is calculated on a daily basis; so the longer you take to repay it the more it’s going to cost you. However, if you put all of your liquid cash toward debts, what happens if something comes up for which you need to make a major withdrawal?

Meanwhile, U.S. credit card debt has reached an all time high, as some 40 percent of Americans say they couldn’t cover an unexpected expense of $400.

So, is it better to have an emergency fund or pay off debt?

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Three Credit Mistakes That Will Lower Your Credit Scores|creditcardinsider

When it comes to the world of credit reporting and scoring, misinformation and myths abound. You will find many self-proclaimed “experts” or “gurus” laugh out loud who are all too quick to give consumers advice regarding how to improve credit scores. Even your cousin, your parent, your banker, or your Realtor may think that they have great credit advice to give you.

While your loved ones and even some of the “experts” may have good intentions at heart, you should be very careful before blindly following advice about how to improve credit scores. Following the wrong advice could damage your credit scores and might cost you a lot of money in the long run. Controlling your credit scores isnt like making a pizza, where even if you do it wrong it still tastes decent.

Here are a few of the most popular credit myths which, if followed, could have very negative consequences for your credit scores:

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Is Credit Card Debt a Hindrance? | usfst.com

With the recession forcing more and more Americans to burden their credit cards with debt, it’s time to ask whether the increasing accrued costs are manageable, or are detrimentally impacting lives.

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