Credit scoring websites use different formulas and look at different aspects of your credit history to calculate your credit score, so each credit scoring website might give you a slightly different credit score based on their own criteria and methods. Also, keep in mind that the information these sites have might not be exactly the same. They might get their data from different sources or update it at different times, which can also affect your credit score.  Your credit score is one of the primary factors lenders, renters, and other providers of various services look at when consideri ..read more

A prepaid debit card isn’t connected to your bank account. Instead, you buy the card from an authorized retailer, activate it, and then load money onto it. Cash is king, but not everyone wants to carry a wallet full of cash wherever they go. You could always use a debit card or a credit card, but what if you don’t want to share your personal information with another financial institution? A prepaid debit card may be the way to go. Learn more about how prepaid debit cards work and how they’re different from standard debit and credit cards. What Is a Prepaid Debit Card? A prepaid debit card, a ..read more

A tax deduction reduces your taxable income, potentially lowering the amount of income you can be taxed on. A tax credit directly reduces the amount of tax owed. Tax deductions are based on expenses or contributions, such as mortgage interest or charitable donations. Tax credits are applied after calculating how much you owe in taxes and can provide a dollar-for-dollar reduction. When you file your federal and state tax returns, you probably look for ways to reduce the amount of money you owe. To maximize your savings, you need to know the difference between a tax credit vs. a deduction. Bot ..read more

In most cases, cosigners are not listed on the title unless they are also listed as co-owners of the vehicle. Typically, it depends on the laws and regulations of your specific jurisdiction. If you’re having trouble getting a car loan, using a cosigner could help. Before you take this step, it’s important to understand what a cosigner is and how having one on your car loan works. For instance, is a cosigner on the title of a vehicle? It’s crucial to understand the role cosigners play when purchasing a vehicle. In this article, we’ll cover what you need to know about using a cosigner and the i ..read more

The average tax refund in 2023 was $2,903. And while getting a tax refund often means you overpaid to begin with, that hefty chunk of change hitting your bank account can spawn some great feelings. Before you drop all that dough on your next vacation or an impulse buy, consider whether you can do something more responsible with it.  For example, did you know you can use your tax refund to build credit? 6 Tips for Using a Tax Refund to Build Credit 1. Pay Down High-Interest Debt One of the most impactful ways to use your tax refund to build credit is by paying down high-interest debt, suc ..read more

The short answer: In most cases there isn’t an instant fix for improving your credit score. Building, improving or even repairing credit takes time.  Your credit score is like a snapshot that lenders use to determine your financial trustworthiness. Whether you’re applying for a loan, a credit card, or even renting an apartment, your credit score plays a crucial role in the decisions made about your financial future. But what if you’re in a pinch and need to improve your credit quickly? Can you fix your credit in just a week?  Why Do Credit Scores Take So Long To Update? How often do ..read more

Credit cards play a significant role in your financial life—from establishing credit to being a financial lifeline during times of crisis. But before you add another credit card to your wallet, consider your buying habits and financial strategies. Here are some key questions to help you decide if another credit card is right for you. When You’re Looking for a Rewards Card  Looking to cash in on cash back? It might be a good time for a new card – especially if you already have excellent credit. (Most of the best rewards cards are only issued to users who have at least a good credit score ..read more

[This is a guest post contributed by Jessica Chung, Programs Director at FitMoney] Millions of Americans will file their taxes this spring, but for many, they’ll be first-time filers. As parents, teachers and caregivers for young adults, we want to be sure that our children are financially savvy and secure, but these new taxpayers likely haven’t received the proper financial education needed to successfully file. Currently, only half of the states in the U.S. mandate any financial literacy before graduation, and many students will file for the first time before they’re even handed a diploma. T ..read more

Is your bad credit preventing you from getting a credit card, buying a home, or renting an apartment? Are you paying higher-than-average interest rates because of your poor credit score? If so, a credit lawyer may be able to help. Credit lawyers help with credit repair solutions. Some consumers choose to handle the credit repair process on their own. However, there are times when working with a credit attorney just makes sense. This article explains what credit lawyers do and how they can help repair your credit. What Is Credit Repair? Credit repair is the process of identifying and removing ..read more

When it comes to borrowing money, building up your emergency fund, and performing financial transactions, you have more options than ever before. You can open an account with a traditional bank, set up an online bank account, or choose a neighborhood credit union. Best of all, you can have accounts with multiple institutions, maximizing convenience. As you’re reviewing your options, you may see some claims that credit unions are better than banks. There’s no one-size-fits-all financial institution that works for every consumer on the planet, but there are some reasons you might want to choose ..read more