There are many myths about Secured cards that we would like to address in this post. But the usual understanding, that a secured card helps establish credit is correct in most cases. Let’s understand what a secured card is.
Type:Offer Codes and links in the post
There are 100s of different credit card in market to chose from. According to data from FRBNY Consumer Credit Panel, there were ~450 million credit cards issued in USA in Q4-2016. There are people that still rely on cash and have no credit cards while there is someone who has gone to an extent to set a Guinness World Record for most credit cards (1,497 to be precise).
- 80,000 Ultimate Rewards points after you spend $5,000 on purchases in the first 3 months from account opening.
- $95 annual fee
Bankruptcy expert Sen. Elizabeth Warren, D-Mass.,recommends a budget where you spend roughly 50% of your after-tax dollars on necessities, 30% on wants, and at least 20% on savings and debt repayment. This plan is very simple to implement and you can use the calculator below to plan your after-tax dollars. Continue reading How to Save Money
Yes, closed accounts can also hurt your credit !!
- A card that has been closed by issuer due to several reasons can negatively impact your credit report
- If the inquiry for that card still exists on your report, it might signal that you were declined for this card
- A large number of unused credit cards points to future payment problems
- Closing a high tenure card brings down your average tenure on the credit report which negatively impacts your score
What you Receive: Six (6) Ovation Rewards certificates each redeemable for a one (1) night stay and breakfast for two (2) at your choice of two Fairmont Hawaii Properties. Certificates may be combined for one use or used separately at guest’s discretion. Continue reading 6 Nights in Hawai: $2,178