The average American has 4 credit cards, with an average balance of around $6,194, according to Experian. That may sound undesirable, but here at Wealthtender, we don’t believe that credit cards are a negative thing per se. In fact there are some great ways to use them (as well as some not-so great ways, of course). […]
Some people still think credit cards should be avoided at all costs. I happen to think they’re very wrong. Credit cards, used correctly, are convenient, useful, and an almost inevitable part of adult life. They can even make you money or allow you to profit in other ways. If you’re undisciplined, they can also allow […]
If you follow Dave Ramsey, you know he hates debt (he makes a grudging exception for 15-year fixed mortgages). He especially despises credit cards. Here’s a quote from one of the “Ramsey Solutions” blog posts: “What’s the best kind of credit card? I’ll be honest with you: The best credit card is no credit card. […]
If you live in the U.S., whether you like it or not, your credit score can make a huge difference (for good or bad) in your finances and beyond. Your credit score could even impact your love life. Your credit score tells lenders (and others) how reliable you are regarding paying your debts (and possibly […]
Be crazy… like a fox! You know the old saying, “Fight fire with fire”? It kind of has a nice ring to it, right? Here’s a nice twist on it – using credit card issuers’ setups to claw back a bunch of money they charge you. Isn’t that poetic justice? But is it realistic? Can […]
As a small business owner, you need a credit card. Whether it’s to pay for extra memory in that sleek new smartphone, place orders on Amazon, or just so you don’t have to carry a lot of cash or an unwieldy checkbook to the store when you buy supplies. The question is, should you use […]
According to a February 2022 report published by the Federal Reserve of New York, outstanding credit card balances in the US grew by $52 billion at the end of 2021, a record quarterly increase. If you’re among the millions of Americans feeling pinched by higher minimum monthly payments, there are three steps you can take […]
Building credit in the US as a new immigrant is one of the biggest challenges newcomers face. In this article, we’ll show you how you can build credit. So let’s break down what US credit score is, what it’s used for, how to start building it with zero credit history, and finally how to improve […]
You may well have heard of the Snowball Method and the Avalanche Method as strategies that can be used to pay off debt. With the Snowball method you aim to pay off your smallest debt first, and with the Avalanche Method you aim to pay off the debt with the highest interest rate first. If […]