Category: Personal Credit

You Can Finance Your Business With Your Home’s Equity, But Should You?

You Can Finance Your Business With Your Home’s Equity, But Should You?

Cash-strapped entrepreneurs often find themselves turning to personal sources of funding for their businesses, whether that’s personal credit cards or a personal loan. Also on that list of financing sources: home equity loans or lines of credit (HELOC). These loans can be easier to get than some small business loans (especially for startups), interest rates are often lower than unsecured loans, and best of all, the interest may be tax deductible. The new tax law takes something of a swipe… Read More
The Right Way to Close a Credit Card

The Right Way to Close a Credit Card

Did you know that there’s a right way and a wrong way to close your small business credit card? If you do it the wrong way, you could miss out on rewards and benefits, and possibly even incur late fees and interest payments. Use these steps to make sure that you close your credit card account the right way. Consider Alternatives to Closing Your Account There are some good reasons why you may wish to close your small business credit… Read More
What Do Credit Scores Tell Us About the Health of the Economy?

What Do Credit Scores Tell Us About the Health of the Economy?

Most headlines these days are telling us that the economy isn't in the most stable position due to the pandemic, war, fuel prices, inflation, and the potential to be heading to a recession.  Experian’s State of Credit report from 2021, an analysis of all things credit, details the geographical and generational breakdown of average credit scores, how much credit consumers are using, and how they are paying it back. The report essentially tells us that credit use remained nearly steady… Read More
Here’s What You Need to Know Before Applying for a Business Credit Card

Here’s What You Need to Know Before Applying for a Business Credit Card

Congrats! You’ve decided to invest in your business by getting access to some capital. Perhaps that decision includes opening a new line of credit with a business credit card. Before you hit "submit" on that application, however, some questions may affect you. Will you be eligible for the best interest rates? Are you choosing a card that's right for the kind of business you're running? Read on to see the must-read facts regarding your business and getting access to that dream… Read More
How Tax Liens & Judgment Liens Work

How Tax Liens & Judgment Liens Work

In Summer of 2017, new reporting standards from the National Consumer Assistance Plan were released in relation to both tax liens and judgment liens. In a nutshell, going forward, for either a tax or judgment lien to be reported on your personal credit report, the reporting must include all of the following: Your name Your address Your social security number Your date of birth Required courthouse visits every 90 days to make sure records are updated This new reporting feature… Read More
How to Get a Handle On Your Credit Cards in 2018

How to Get a Handle On Your Credit Cards in 2018

Were your credit cards a little out of control in 2017? With the new year comes a new opportunity to manage both your personal and small business credit cards a bit better. Doing so can save you both time and money, while offering you a chance to earn more rewards and enjoy more benefits. Here are five ways to get a handle on your credit cards in 2018: 1. Take an Inventory A lot of people have numerous personal and… Read More