This is certainly more geared towards the guys, but once I saw the headline it made me want to read and share with everyone.
It’s a list of 5 things you can learn about credit from popular gangster movies.
Here is the link, enjoy! Credit Advice From Gangster Flicks
One of the most important factors that affects your credit score is the total balances versus the total available credit limits.
Most people don’t realize that the balance on your credit card can affect your credit scores almost as much as a late payment. Now, it doesn’t matter the balance on a specific credit card, unless you only have one card open, but the total amount of all balances of your cards versus the total available credit.
Example: If you have 3 credit cards, all with credit limits of $1000, your total available credit is $3000. If you have a balance of $300 on all three cards, your total balance is $900. Take $900 (the total amount of balances) and divide that by $3000 (the total available credit) and you will get a percentage of 30%. If this percentage exceeds 30%, it will start to affect your credit scores.
Some people ask if they should close a credit card account, because they don’t use it anymore or want to avoid using it. Well, this could affect your credit score.
Take the example above and let’s say you transferred that $300 balance to one of the other cards and closed that credit card account. Now, you have two credit accounts open, but you still have the same total balance of $900. Take the $900 in total balances and divide that by the total available credit, which is now $2000 and the percentage becomes 45%. This will affect your credit scores.
Before you close a credit card, figure out your total balances and total available credit, so you will know if it will affect your credit scores.
Learn more about credit:
Credit Advice About Choosing A Credit Card
Understand The Simple Steps To Build Credit Scores
Top 3 Things To Improve Your Credit Score
Money management has become very important, since many American households have lost some sort of income.
This website that has become very popular with helping people manage their money for free.
Recently they have created an iphone application. Go here to read about it.
What I think is great about this site having an iphone application is that you have immediate access to your daily money management budgets. Since the purpose of this site is to manage your daily expenses to help stay on track with budgets, this iphone application is a must for those iphone users that are on there phone constantly throughout the day.
Hope this website helps you with tracking your day to day expenses. Heck, you may just realize how many StarBucks you drink in a month!
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