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Credit cards can increase your purchasing power, but how many credit cards are too many? There are both pros and cons of having multiple cards.
Continue ReadingYour credit history is a key factor used by creditors to make lending decisions. But banks, mortgage companies, credit card issuers, and other financial institutions aren’t the only organizations that review your credit reports. Your credit history may also be used to make insurance, employment, and even rental application decisions.
Staying on top of monthly payments, sticking to a healthy budget, and saving for a secure financial future are challenging enough for civilians. Add in the responsibility, sacrifice, and constant upheaval that can come with life as a military service member, and remaining financially stable becomes an even more complex balancing act.
There seems to be a lot of confusion about credit lines and credit line increases, so Credit One Bank decided to clarify things with a few general guidelines. Just know that the actual criteria and methodology used to set and increase credit limits is ultimately up to the credit card-issuer.
You’ve probably heard about the importance of checking your credit reports regularly. It’s wise to stay current on the status of your credit so you know how well you’re doing managing it. However, an equally important reason for checking your credit report is to make sure the information contained within it is accurate.
This material is for informational purposes only and is not intended to replace the advice of a qualified tax advisor, attorney or financial advisor. Readers should consult with their own tax advisor, attorney or financial advisor with regard to their personal situations.