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Posts Tagged ‘credit cards’

What’s in a Credit Score: Your Credit Portfolio

by Bethy Hardmen on September 21st, 2011

cg score

For the past couple of months, we’ve been brushing up on credit scores. At CreditKarma.com, credit scores are our bread-and-butter and we like to spread the knowledge with all of you Cute Geek readers.

Our first installment discussed how your credit utilization rate affects your credit score. Then we covered what factors in your credit history impact your score. For this final installment, we’ll be talking about how your credit portfolio factors into your credit score.

The two main pieces of your credit portfolio are the average age of your open credit lines and your total number of credit accounts.

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What’s in a Credit Score: Your Credit History

by Bethy Hardmen on August 19th, 2011

cg score

At CreditKarma.com, we know credit scores. We know the ins and outs, what keeps them strong and what damages them. We’re sharing some of that knowledge with you CuteGeek readers so that you can take control of your credit life.

Last time, we discussed your credit utilization rate and how important it is in determining your credit score. Today, we’ll talk about how different aspects of your credit history factor into your credit score. The two main pieces in your credit history are your percentage of on-time payments and number or derogatory marks.

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

by Justine Rivero 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 Justine Rivero 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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