Ok, on to another question from our Ask the Wealthy Bloggers post:
I am trying to build my credit history and just recently got my first credit card, a secured one from the bank, so that the information about me would get sent to all the credit reporting agencies.
However, I am getting contradictory responses on what [...]
There’s an interesting (and rather humorous) editorial at The Houston Chronicle that gave me a chuckle:
http://www.chron.com/cs/CDA/rssstory.mpl/business/3235757
I think I shall have to send in a letter with something like this:
Effective May 1, 2005, any compromise of my data will result in a $50 liability for you, the card issuer, owed to me, the card holder.
Cashing the [...]
I’m sure you all have read my post on The Ultimate Credit Card Repayment Program and my post on Ordering Debts
for Repayment, and then found yourself saying ‘That’s great Mike, but what I really need is a nice tool with fancy graphs that lets me enter in all my debts and have it automatically [...]
Wow, two Suze Orman related posts in a row…
I found myself watching the Suze Orman show tonight for the first time on CNBC. It is a special show tied into her new book The Money Book for the Young, Fabulous & Broke, and it involves her doing a sit-down with some young fabulous people.
In her [...]
Over at It’s Your Money, there is a great post responding to advice from Suze Orman regarding the use of credit cards by the young. Suze’s advice:
My credit card strategy is solely for expenses that you need to live on — and not expenses that finance your living the high life. The only YF&Bers who [...]
…With Geico!
Just kidding, this is not an insurance ad. Rather, I decided to do something about the interest rate on my wife’s Visa card.
My wife and I both have a Visa card through TD Canada Trust, but we carry different cards. I have a TD Emerald card that has a $12 annual fee (going [...]
As many of you know, I have recently been writing about credit card repayment. The gist of the program is to order your debts for repayment, pay the current minimum payment on each debt for the remainder of its lifetime, and pay extra to the first debt in the payment order, snowballing the monthly plus [...]
No matter what feel-good commercials want you to believe, you are (usually) just a number to your potential creditors.
The number in question is called your FICO score, and it controls your financial life in ways you cannot imagine.
From Wikipedia:
A credit score is a numerical index which represents an estimate of an individual’s financial creditworthiness. It [...]
For the last few months, I have been putting the methods I listed in my post titled The Ultimate Credit Card Payment Program to work.
I ordered my payments a little differently than the system I previously mentioned: rather than paying down the card with the lowest balance or the greatest interest, I instead focused on [...]
While my post on THE ULTIMATE CREDIT CARD REPAYMENT PROGRAM was well recieved, two very observant readers noted that the payoff order I used from The Automatic Millionaire was flawed.
The Automatic Millionaire advised to order your debts by balance divided by min payment, and in the fictional couple it meant for the most part [...]
