Clark Howard: Consumer Tip Of The Day
Seeking credit perfection go to CreditKarma.com and use their credit score simulator.
Personal Finance Experts Debate Whether Carrying Plastic Is Worth It
We tapped two of our favorite credit experts, Bethy Hardeman of CreditKarma.com and John Ulzheimer of SmartCredit.com, to weigh in on the pros and cons of carrying plastic.
Americans Still Relying On Credit Cards To Get By
A similar report by credit card tracking site CreditKarma.com that included data from more than 300,000 consumers of all income levels found that the average credit card balance for 2011 was $6,576, down from $7,404 a year earlier.
California Mortgage, Consumer Debt Drops
The average Californian owes less in credit card and mortgage debt than they did last year, according to a new report, but credit scores still dropped a little.
Yes, You Actually Can Get Your Credit Score For Free (Here’s How)
Now that you know why a credit score might be useful, don't pay for something you can get for free: I recommend using CreditKarma.com — signing up on their secure form took me only a minute, and within a few clicks I had access to my actual credit score
It’s Raining Credit-Again
You can go for those bonus miles and cash-back cards, but not all at the same time. One inquiry for new credit can knock as much as 25 points off a very high score, says Kenneth Lin, CEO of Credit Karma. Even so, the ding from a single new account isn't likely to change the interest rates you'll pay.
The Dangers of Credit Card-Linked Discount Offers
When consumers pay with their cards, they'll be offered discounts at the store where they're shopping or at other stores. There's no actual coupon -- consumers just have to pay with their card at the designated store within a certain time frame to automatically get the deal, says Ken Lin, CEO of Credit Karma, which provides credit scores and credit-card reviews.
A better free credit score service
So imagine my skepticism when I stumbled upon CreditKarma.com. What I learned, however, is that this site provides far more than your credit score and really is "free" to the user.
Using Your Tax Refund
The average household has nearly $6,000 in credit card debt, more than $15,000 in auto loans and $29,500 in student loan debt, according to CreditKarma.com. That refund could make a significant dent in a debt with a high interest rate, giving you a little breathing room on monthly payments going forward.
Four Money Habits You Need To Ditch Now
Credit Karma allows you to view your credit score for free. A healthy credit score is above 650, and an exemplary score is over 700.