How Revolving Debt Impacts Your Credit Score
When opening a line of credit, you are taking on a financial responsibility to borrow money that you intend to pay back. A credit card can have a positive or negative effect on your credit score depending on how you use it. If you are not careful, you may be on the...
Installment Debt vs. Revolving Debt
In terms of borrowing, it is wise to have different types of credit to diversify your credit mix. This helps determine your creditworthiness, and may even help improve your credit score if you maintain your debt repayments. With credit comes debt in two primary forms:...
How to Reduce Credit Card Debt Without Hurting Your Credit Score
Credit card debt can be overwhelming, stressful, and can lead to poor financial health if left unchecked. High credit utilization and holding too many cards at once hurts your credit score, which can make balance transfer cards a risky solution to pay off debt. If...
Recent Comments