Having a higher credit limit on your credit card can be beneficial in many ways But is a $10,000 limit considered good? Let’s take a closer look What Factors Determine Your Credit Limit? When a credit card company sets your limit they consider several factors Your credit score tells them how careful you’ve been with … Read more
Buying your first home is an exciting milestone, but saving up for the down payment can feel daunting. As a first time buyer, how much deposit do you really need to purchase a house or condo? The answer might pleasantly surprise you. What Is a Down Payment? A down payment is the amount of money … Read more
Identity verification is an important part of financial transactions these days. With rising concerns over identity theft and fraud, companies like American Express have implemented stringent verification processes. But how exactly does American Express verify your identity? This guide goes into great detail about the different ways American Express makes sure it’s really you who … Read more
With a steep $695 annual fee (see rates), the American Express Platinum Card is one of the most prestigious and well-known high-end travel rewards cards. However the Platinum Card may not make sense for everyone. The high annual fee can be hard to justify if you don’t make use of the card’s numerous benefits. And … Read more
When you apply for a loan or credit card, your credit score is one of the first things lenders look at. They check Equifax, Experian, or TransUnion, but which score do they look at? And why do scores vary so much from one bureau to the next? Read on to find out. The Three Credit … Read more
You can get a lower interest rate, lower your monthly payments, or access your home equity by refinancing your mortgage. But before you refinance, you should know that you’ll probably have to pay closing costs. Here is what you need to know about the fees that come with refinancing your home. What Are Closing Costs? … Read more
Your credit score is one of the most important numbers in your financial life. It gives lenders an idea of how likely you are to repay debt, and can affect everything from whether you qualify for a loan to how much interest you’ll pay. So where does a 672 credit score land you? Is 672 … Read more
Lenders look at your credit report and credit score to see how creditworthy you are and to see if you can get new credit products like mortgages, credit cards, and auto loans. Your payment history is a big part of your credit score, so if you still owe money on old debts that are on … Read more
Paying down the principal on your mortgage faster can save you thousands of dollars in interest and help you pay off your home loan years earlier. However, making extra principal payments does not directly reduce your monthly mortgage payment amount unless you recast the loan. How Monthly Mortgage Payments Work When you take out a … Read more
Having a strong credit history is important for getting approved for loans and credit cards with the best terms. But how many years of credit history do you really need to have good credit? Is 5 years enough? The length of your credit history is one factor that affects your credit scores. Generally, the longer … Read more