The holidays are just around the corner, and even though I’m not going to be on anyone’s “Nice” list this year, I’ll still be enjoying the season.
Around the holidays, people get carried away with their gift purchases. And once January rolls around, they’re staring at a credit card bill they can’t quite afford. All it takes is one late or missed payment and I spring into action. Lower credit scores lead to plenty of unwanted consequences such as getting denied for loans, credit cards and insurance. A bad credit score really is the gift that keeps on giving.
Isn’t it funny how one day of reckless shopping can ruin the rest of the year? For example, missing that payment on your credit card due to overspending will surely lead to higher interest rates. Higher rates will make it harder to pay off debts, which could affect other bills like the mortgage or utilities. Eventually, your debt could snowball in which case I’m like the ghost of Christmas Past, haunting you with the consequences of your spendthrift ways!
Well, you have to give me credit – for my ability to ruin people’s credit! Here’s how I compare
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There are many persons who are more interested in finding out whether the summons has been issued from the court of law or whether it has been issued by the credit card issuer. To tell you the truth, it does not make any difference whatsoever.
Irrespective of whether the summons has come from the issuer or not, you will have to answer it. The simplest reason why you will have to answer it is because non-answering will put you in a position where the credit card issuer can go to the court to seek action against you.
On the other hand, if you answer the summons, chances are high that you can come up at a reasonable negotiation point where both the parties can work together. However, you cannot just walk in to the credit card issuer’s office and expect the company to suggest the solution.
It is obvious that you have been summoned because you are not repaying the debt on time. What do you intend to do to repay the debts? Why are you not repaying the debts on time? How do you intend to change the situation? You should have the answers to all these questions. R
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Dear Eva, My credit score is low (580) thanks to a tough couple of years as a single mom, but my husband’s credit score is so much better (780). I’ve always wanted to take advantage of the kind of rewards deals that you write about, but I haven’t been able to because of my credit. Is there a way I can use my husband’s credit instead to apply for a rewards card? Would we even be approved? We’ve only been married for a year and so this would be the first time we applied for a card together. Lisa
Hi Lisa, Congratulations on your recent marriage! I’m glad your financial fortunes are taking a different turn. Making ends meet as a single mom is tough indeed.
Regarding your question, yes, technically you and your husband can apply for a credit card together. But you will want to weigh your options carefully before you do to make sure you really want to go down that road.
Let’s deal with the technical side of things first. There are two ways to share a credit card: You can both apply for the card and become joint account holders. Or your husba
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With the holidays approaching, many of us are looking forward to large meals, time with friends and family, and all the activities that come with the holiday season. And all this fun does come at an expense, I just read that the average person will gain 1.5 lbs the week of thanksgiving! And just like our food intake we often over indulge during the holidays financially. So if we think about our credit like we think about our weight, most of us will be packing on a few extra pounds. That in it self is not really all that bad, its what we do the weeks and months after that matters!
Just like with packing on a few pounds after the big turkey day meal, we have to work hard in the next few weeks after to get back to where we were before we had the great meal. Same with your credit, it is important to work hard in the upcoming weeks to get your credit to back to where it was before the holdiays.
The most important tip we can give is to make sure you pay your bills on time! This can get tricky as we get so busy from now until after the Christmas holidays.
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Credit cards can be a useful way of borrowing money in the short term, or giving your budget a temporary boost from time to time.
However, if you don’t repay the debt as quickly as you thought you would, you could end up paying a lot more in interest than you expected.
Here we’ll look at keeping on top of credit card debt.
Try to make more than the minimum monthly payments
Credit card companies usually require a minimum monthly payment of between 2-5% of the balance. Though this may seem like a relatively small amount just looking at it on a monthly basis, it can quickly add up if you have multiple credit cards you’re repaying.
Of course, the most important thing is that you make your minimum payments every month – otherwise you could risk extra charges and damage to your credit rating. However, if you can make more than the minimum monthly payments, you could save yourself a fair bit in interest – not to mention the fact you can pay your card/s off in full sooner.
Generally speaking, the more you can afford to put towards your credit card debts every month, the better. You could
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If you have ever had any problems that stem from financial issues, then you know how difficult just surviving on a daily basis can be. You’re not alone though, since millions of people are having their own hardships and problems as well – particularly when it comes to trying to keep a roof over their head. Paying off house notes is something that numerous people are doing as we speak and will remain to be a significant part of nearly everyone’s lives. But why exactly are mortgages crucial and how are they important to someone’s life? You might be aware of many of these advantages as to how mortgages play an important part in our lives. If this is your first time dealing with advances, there are options for you.
While many people may overlook this, homes are an important and central part of our lives. From living, lying our heads, eating, entertaining, protecting and giving one their own special, personal space to call their own – the home is where this all happens. Read more…