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Credit Education

Credit can help you secure a loan, buy a car and more. Get credit management tips and learn how credit affects your financial identity.

 

Credit Card Terms That Everyone Should Know

Credit Cards are vital pieces in your financial world. For that reason alone, the more you know about those small pieces of plastic, the better. Here are some credit card terms you should understand inside and out. Read more.



How To Build Your Adult Kid's Credit

If your kid recently graduated college and is struggling to find a place to live, their credit - or complete lack thereof - could be the reason. Good credit is a key to landing apartments, mortgages, credit cards and loans. So what do you and your adult child do now? Try building their credit by following these steps. Read more.


How Late Credit Card Payments Can Hurt You

Credit cards can be helpful if used correctly. They provide an avenue to good credit, allow you to rack up rewards and more. However, if you're misusing them - specifically, paying late, missing payments or racking up more and more debt on a monthly basis - credit cards can be harmful. Paying your credit card bill in full each month sounds like a simple concept, so perhaps you think missing a payment here or there isn't a big deal. Well, here are some of the ways a late or missing payment can hurt you. Read more. 


How Much a Good Credit Score Can Save You on a Mortgage

One of the first steps in the house buying process should be working on increasing your credit score. Yes, we know. This is not as exciting as browsing potential dream homes online. However, hear us out. If you have the best credit card possible, you'll save loads of cash on your mortgage. The higher your score, the lower the interest rate on your loan. Read more. 


How Student Loans Impact Your Credit Score

Student loans can have a big impact on your credit score, and not just in a negative way. Because your credit score is such a big factor in your financial life, you need to understand exactly how any student loan debt alters it. Here's a breakdown of the good and yes, the bad. Read more. 


How and When to Remove a Closed Account From Your Credit Report

When it comes to credit reports, all ends are not positive ends. For example, you might think that a closed account is a good thing, but it mostly depends on the account's history. Essentially, if a closed account was in good standing, there's no need to do anything but leave it on your credit report. If the closed account has negative remarks, like missed payments, you should do what you can to get it removed from your report. If you're dealing with the latter, here's some steps to take. Read more.

 

The material provided on this page is for informational use only and is not intended for financial, tax, or investment advice. VisionBank and/or its affiliates, and SavvyMoney, assume no liability for any loss or damage resulting from one's reliance on the material provided. Please also note that such material is not updated regularly and that some of the information may not therefore be current. Consult with your own financial professional and tax advisor when making decisions regarding your financial situation. 

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