Back in 2020, the federal government gave student loan borrowers a payment reprieve. The temporary measure was designed to help borrowers with federal student loans get through the financial uncertainty caused by the pandemic. But the federal student loan payment pause came to an end in fall 2023. If you are a federal student loan…
When you need a vehicle to get around, you might feel pressure to spring for more than you can truly afford. Whether your financial situation has changed or you felt pressure to overspend at the dealership, being stuck with a car payment that you cannot afford is an uncomfortable situation. If you feel trapped with…
Everyone wants to get a higher credit score, but not all of the “hacks” or tips being promoted actually help you get more credit score points. In a Credit Countdown video on our YouTube channel, credit expert John Ulzheimer answers some common questions about ways to get more credit score points and sheds some light…
Being an authorized user on someone else’s credit card can often be a valuable strategy for consumers who are looking to build credit. However, it is not true that everyone will benefit from authorized user accounts in every situation. In some cases, being a credit card authorized user may have a neutral impact, which is…
Credit sweeps are a heavily advertised and promoted service among credit repair companies. Unfortunately for many unsuspecting consumers looking to improve their credit, the credit sweep is a fraudulent and illegal practice. John Ulzheimer, one of the nation’s most prominent credit experts, explains why you need to watch out for credit sweep scams in an…
A secured credit card gives cardholders an opportunity to build credit. While you’ll have to make a security deposit to serve as collateral, this can serve as your entry point into building credit. But if you are new to credit cards, you might not know where to get started. Luckily, I’ve created a full guide…
You can find financial advice almost everywhere you turn. Whether you are hearing advice from TikTok stars or friends and family, you’ve likely heard more than a few financial myths thrown into the mix. On the surface, financial myths might make some sense. After all, if you’ve heard something enough times, you might start to…
Artificial intelligence (AI) has been making headlines in recent months. As AI develops into a more sophisticated tool, it’s natural to wonder how this technology might impact financial advice. If AI can answer other questions, can it be trusted to provide worthwhile financial advice? Let’s explore how AI interacts with financial advice. Financial Advice and…
The right credit score can make a world of difference to your financial future. Not only can a good credit score make it possible to obtain financing for major purchases, but it can also help you lock in lower interest rates to potentially save thousands over the life of your loan. While a good credit…
In 2020, FICO, the company behind the FICO credit scores, released the latest models in their line of credit scoring algorithms: the FICO Score 10 and the FICO Score 10 T. The “T” in the latter scoring model stands for “trended,” which reflects the incorporation of trended data—your credit data over time—into the algorithm. Thanks…