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Joint Credit Has Several Faces

WHAT IS JOINT CREDIT?To have joint credit with another individual you don’t have to walk down an aisle and exchange a kiss with each other.  Without getting married there are different types of joint credit that can potentially harm your credit rating. As with marriage it pays to be careful who you open a joint account with. If the other person disappears or flakes out you are going to be responsible for the debt. There are three different kinds of shared credit.They are:Joint Credit - You are a full partner on the account. You fill out an application for a credit card or loan and t...

December 22nd, 2016 | Credit Card Debt, Joint Credit Has Several Faces

5 Things You Should Never Put On A Credit Card

 5 Things You Should Never Put On A Credit CardA credit card is often the worse means of finance. Credit card debt is unsecured and typically carries a higher interest rate than a car or home loan. Unlike a home mortgage or student loan, credit card debt is not tax deductible.Here are the five worse items to use a credit card for financing.1. College Tuition - Rather than using a credit card, higher education can be funded through low-interest student loans, scholarships, grants, and part-time jobs. Also consider a less expensive school or delay enrollment until they have more savings.2. ...

December 6th, 2016 | Credit Card Debt, 5 Things You Should Never Put On A Credit Card

Can A Credit Card Company Sue You? Yes Or No?

Can A Credit Card Company Sue You? Yes Or No?  In today's troubled economy, people are finding themselves accumulating more credit card debt than ever before. Unfortunately, more of those same people are not able to make payments towards their outstanding balances. This leads to the question: Can a credit card company sue you? To be blunt, yes they can. While it doesn't seem fair for them to sue you for a few thousand dollars when they have billions, the law gives them the right to sue you. Many do not realize it, but when they signed up for their credit card, they entered in...

April 11th, 2016 | Credit Card Debt, Can A Credit Card Company Sue You? Yes Or No?

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