The term credit can mean many things. For most people, it is the ability to borrow today and pay later. The idea of “credit-worthiness” defines our personal finances, and reaches out to all parts of our financial lives. Credit can be an accounting term. You can talk about credit cards, your credit history, your credit score, or the three credits you got in college for taking Bowling. This page is the credit nerve center of ThinkGlink.com. From this page you can learn more about what credit means and how having good, bad, or mediocre credit affects your personal finances.
Is Your Email Address Wrecking Your Creditworthiness?
Is your email address wrecking your creditworthiness? A recent study found that a person’s digital footprint can predict their financial behavior. Did you know your cell phone or email address can reflect your creditworthiness and might limit your ability to take out a mortgage? According to a recent study from Frankfurt School of Finance & [...]
I Think I’m a Victim of a Scam. Now What?
I think I’m the victim of a scam. Now what? If you’re getting bills from unheard of companies, pull your credit report immediately. Q: I’m wondering if I’m being scammed. I received what looks like a bill from a company in Pennsylvania claiming that I have a current balance due of $704.02 as of February [...]
Your Bankruptcy Recovery Plan
Having your bankruptcy recovery plan in place before filing will help you get back on track to rebuild your credit post-bankruptcy. This is how to get started. Q: My husband and I are going to file bankruptcy within the next 2 to 3 months on our personal accounts and our business. What is the best [...]
What To Do About Equifax And Your Credit
This post was updated September 20, 2017 and September 26, 2017. See below for most recent news. With all due respect to those injured by Hurricane Harvey and Hurricane Irma, it's the question of the week: What should you do about Equifax and your credit in the wake of the largest credit breech in history? [...]
Chapter 7 Bankruptcy Won’t Release a Lien On Your Home
[amazon_link asins='1524763438,0812927427,0061944874,0812925319' template='ProductCarousel' store='thinkglink-20' marketplace='US' link_id='36d9a71b-d934-11e7-aeaa-1552dd5cb7bf']While Chapter 7 bankruptcy clears your obligations to pay debts that you owe, it won't clear a lien your lender has on your property. Q: I went through Chapter 7 discharge but the bank will not release the lien on my home. What can I do? A: There is at [...]
Need a Credit Card Fast? Choosing Wisely Reduces Financial Stress Later
Need a credit card fast? If you choose that credit card wisely, it can reduce financial stress caused later by soaring APRs and a multitude of late fees. And remember: While credit cards and credit card debt can be a huge source of financial stress, particularly if you build up a significant balance, they can [...]
4 Scary Credit Stories You Can’t Afford to Believe
Everyone wants a great credit score, but it turns out there are some persistent scary credit stories going around that could turn this goal - and your finances - into a nightmare. According to a recent survey by Capital One on Americans’ credit confidence, plenty of respondents describe their credit history favorably, or at least [...]
Comparing Credit Card Rewards: Miles, Points, Cashback Rebates
With such a wealth of options available to consumers, choosing a credit card with great rewards has never seemed easier. Credit cards offer more unique rewards than ever before, making it difficult to choose what would be most useful to you. Should you rack up airline miles or hotel points? Do you spend enough to [...]
How Refinancing Your Mortgage Impacts Your Credit Score
Refinancing your mortgage can be a way to change your loan terms. If you refinance, you may be able to get a better interest rate or shorten the length of your loan, which can potentially save you money over time. With mortgage interest rates hovering around 4 percent, your savings from refinancing may be significant—especially [...]
Should I Pay More Toward My Student Loan Debt or Add to My Retirement Savings?
Saving for retirement during your lifetime is one of the smartest financial investment decisions you can make. In fact, the sooner you start, the further those hard-earned dollars go, thanks to the power of compound interest. However, many young people are more concerned about student loan debt than they are about retirement planning. According to [...]