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.
Should You Use Retirement Savings to Pay Off Debt?
What do you have planned for your retirement? Travel? More time with family? Hobbies? A new business venture? Encountering a large amount of debt as you enter retirement may shrink your options. Clients who are facing this obstacle come to me asking, “Should I use my retirement savings to pay off debt?” The short answer [...]
Credit Debt, Unemployment Affect Holiday Consumer Spending
Credit debt and unemployment affect holiday consumer spending. Consumer spending this holiday shopping season will be affected by credit debt and unemployment. Holiday shoppers consumer spending habits affected by credit card debt and unemployment this holiday shopping season. Credit card companies say the decrease in holiday consumer spending is creating a "credit winter."
Security Freezes, Credit, Identity Theft and Fraud
Security freezes, credit monitoring, fraud alerts–all are ways to keep track of your credit and watch out for identity theft. FAQ: What is a security freeze? A security freeze prevents your credit report from being shared with most third parties. It can be a helpful tool to fight identity theft and fraud, because it prevents [...]
Why Mortgage Lenders Pull Your Credit History Twice
Last year, I found myself shopping at a major retailer. The store was having a great sale, and I found a fair number of clothes that fit me, all at an excellent price. When I was checking out, the cashier offered me a big discount if I opened up a major credit card co-branded with [...]
Pay Off Investment Property Or Pay Down Mortgage?
Decide to payoff an investment property or pay down the mortgage. Don't pay off an investment property and pay down the mortgage at the same time. Consider interest rates on loans before paying off mortgage loans on an investment property or primary home mortgage. Refinance mortgage loans before you pay down a primary home mortgage or investment property mortgage loan.
Debt Help For a Friend
If you are a generous person and your friend ask you to help with their debt, make sure you understand the consequences of helping someone in debt. If your friend is in over their head, in severe debt, owing more than his house is worth, and in danger of losing his property you might not want to get involved. By helping a friend with their debt, anyone could become a good Samaritan in debt too. Ilyce Glink offers resources that can help you deal with a friend in debt.
Better Business Bureau Warns About New Phishing Attack
A new phishing scheme is using the name and logo of the Better Business Bureau. The attack comes in the form of an email, and the BBB is advising not to click on any links of the fraudulent email. There have been two reports of such attacks in Illinois.The Better Business Bureau has suggestions on their website for how businesses can protect themselves. Read the full press release below:
Credit Crisis: Are We Facing Financial Armageddon?
The credit crisis and housing crisis over the past few years has spawned concerns that we're facing financial armageddon. Is this happening? And, if it is, what will it mean for consumers and their bank accounts? One listener to Ilyce Glink's radio show wonders whether Ilyce thinks a blog called Financial Armageddon is on the money.
Who Has An 850 Credit Score And How Do You Get One?
Credit scores, on the scale assigned by FICO, range from 300 to 850. Who has an 850 credit score and what canyou do to get one? Less than 1 percent of the population has a credit score above 800, so it's very unlikely you will have an 850 credit score. However, if your credit score is above 720, you will probably still receive the best rates. Watch more credit and identity theft videos from Expert Real Estate Tips to learn how to raise your credit score.