Author Archive

Credit Karma Tidbit #3: 10 Credit Myths Debunked!

by on October 31st, 2010

Don’t believe everything you hear, especially when it comes to money.

 It’s a shame that financial literacy wasn’t a required class back in school; it may have saved some consumers from being burdened with the national average of $7,526 in credit card debt and a whopping $28,425 in student loans, according to recent Credit Karma data. Most of us figured out how to handle money and juggle our finances thanks to a combination of parent’s advice, friends’ habits, and learning from our own mistakes.

 Along the bumpy learning curve of financial literacy, consumers pick up some misinformed advice and bad habits when it comes to money. Did you ever hear someone tell you that you should keep a balance on your credit card? How about the myth that you’ll hurt your credit score if you check it? Credit Karma is debunking these myths and setting a few facts straight about credit, so you can learn the right way to establish a good financial foundation. Continue Reading…

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Credit Karma Tidbit #2: Choose The Credit Card You Need, Not The One You Want

by on October 1st, 2010

Deciding between the things we need from the things we want is tough—eating the salad over the burger, heading to the bank instead of the mall, studying or going for a night on the town. In the case of credit cards, choosing the credit card you need instead of the one you want could save you thousands (like this savings dashboard shows) and help your credit score.

The key to choosing the right credit card is in finding what benefits your spending habits and encourages responsible credit management. The wrong card for you is the one you choose for its rewards points, retail discount, or promotion offer, and ends up encouraging you to spend more.
Continue Reading…

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Credit Karma Tidbit #1: Credit Cards Can Be Your Best Friend… Or Just Plain Evil

by on August 31st, 2010

One lesson parents should have taught us is the other golden rule: Treat your money the way you want to be treated. Instead, many of us learn the pitfalls of money management by living it and learning from our mistakes. Case study #1: My friend just learned how credit card interest rates work… and almost keeled over when she realized how much she’s paying in interest monthly. Case study #2: Another friend maxed out her credit card, so her issuer closed her card, which dented her credit score. Maybe a financial blunder you’ve made before is a case study of its own.

So before another trial-and-error lesson in personal finance costs you cash and stress, take money matters into your own hands. That’s what Credit Karma’s column is all about: personal finance lessons to help CuteGeeks get good financial karma. Treat your money and credit the way you want to be treated, so you can save money and build a great credit score. Continue Reading…

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