Investing money borrowed from credit card companies and profiting from the difference in interest rates may seem like a lucrative idea, but it comes with significant risks. Credit card arbitrage involves transferring a balance from an existing card to one with a zero or low-interest rate, then investing that money in an instrument offering a…
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Credit cards can be a valuable financial tool, offering both convenience and a means to establish a positive credit history through sound financial practices. Here are important facts to know about credit cards if you are new to using credit. How Credit Cards Work A credit card functions as a form of short-term loan, allowing…
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In the ever-evolving financial landscape, understanding the interplay between credit cards and bankruptcy is crucial. If you’re grappling with debt and contemplating bankruptcy, or if you’re simply looking to build a solid foundation of financial knowledge, this article is for you. We’re going to explore the relationship between credit card debt and bankruptcy, shedding light…
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In today’s digital age, credit card fraud has become increasingly prevalent, with thieves constantly finding new ways to obtain and use your sensitive financial information. Whether it’s through stolen card numbers or compromised online purchases, the consequences of credit card fraud can be devastating and long-lasting. In this article, we’ll dive into the types of…
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Store credit cards have become an increasingly popular option for consumers in recent years. While they can offer exclusive discounts and promotions, easier approval processes, and the opportunity to build a credit history, there are also several drawbacks to consider. Now, let’s explore the pros and cons of store credit cards and compare them to…
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Overview Building credit is an essential aspect of financial well-being. However, simply living life and hoping for the best is not a winning strategy. Instead, there are specific steps you can take to accelerate the process and ensure that you’re on the right path. One such step is using Kovo Credit Builder, a tool designed…
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Building credit from scratch can seem like a daunting task, but it’s an important step toward financial independence. Your credit score is a measure of your creditworthiness and is used by lenders, landlords, and other entities to determine your ability to repay debt. A good credit score can mean better interest rates, easier access to…
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There’s no shortage of ways to improve your credit score. Every step you take in the right direction is a step that can enhance your financial future. One of the best things you can do is use credit cards to your advantage. If you plan on heading down this path, here are a few things…
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Having poor credit can be a frustrating and challenging experience, especially when it comes to applying for a credit card. Many credit card companies may be hesitant to approve your application due to your low credit score, and if you are approved, you may be offered a card with unfavorable terms and high interest rates….
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Imagine this: you’re the parent of a college student who wants to apply for a credit card. At first, one word comes to mind: no. However, as you think about, you realize that there are several benefits of this arrangement. In the end, only you can decide if a credit card is right for your…
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There are plenty of people who don’t use credit cards. For one reason or another, they feel that avoiding “plastic” is in their best interest. And there’s nothing wrong with that. You should always do what you feel is best for your financial health. So, the answer to the question “do you really need a…
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There’s nothing wrong with using a credit card. However, it can get you into a lot of trouble if you’re irresponsible. It’s important that you track your spending and do your best to pay off your balance every month. Many people struggle with this question: how much should I put on my credit card? There’s…
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Carrying a credit card is a big responsibility. It only takes one slip up to harm your finances and bog you down for months or even years into the future. Fortunately, when you know what you should and shouldn’t be doing, it’s easier to stay the course and take advantage of the many benefits a…
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There is no way around it. A bankruptcy filing will drag down your credit score. However, if your score was already low to begin with — perhaps because of missed payments — it can only fall so much lower. Regardless of your credit score before filing for bankruptcy, it’s imperative that you take action to…
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There may come a point when you realize that it’s best to cancel your current credit card and move on with another offer (or none at all). While there’s nothing wrong with this, don’t overlook the fact that it could impact your credit history and credit score — and not in a good way. If…
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Are you the type of person who uses their credit card for almost every purchase? Are you beginning to realize that you could benefit from a higher limit? Do you have questions about how to get a higher limit on the credit card that you already have? Generally speaking, there are four ways to get…
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As you begin your search for your first credit card, it’s easy to get lost in all the “bells and whistles” associated with the many offers you come across. To improve the likelihood of making the right choice, you must exercise patience as you compare offers. Here are five questions you can answer to help…
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Before signing up for a credit card, it’s good practice to review the fee schedule and terms and conditions. Doing so will ensure that you have a firm grasp of what to expect as you begin to use your card. There are some credit card fees that you can’t avoid, however, these are few and…
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