Credit & Debt

Can a Joint Checking Account Affect Your Credit Score?

Thu, 23 May 2019 20:04:19 +0800

Checking accounts in general don't have much of an impact on your credit score unless, that is, you engage in bad behavior. If your checking account is routinely overdrafted, for instance, that may be reported to the credit bureaus. For the person who shares that account, that could be a problem.

Can a Restaurant Owner Charge a Waitress Credit Card Fees?

Thu, 23 May 2019 20:03:11 +0800

Many patrons who pay with a credit card also prefer to add a tip to the balance for their waiter or waitress. Some restaurants are starting to pass along the credit card processing fee to their waitstaff. This means if a waitress is tipped via credit card, the fee can come out of her tips.

Can a Lien Be Put on a House When Someone Is Sued Who Is Not on the Mortgage?

Thu, 23 May 2019 20:03:11 +0800

If you live in one of the nine states with community-property laws and you bought a house after getting married, your spouse's creditor might be able to put a lien on your house even if your spouse is not on the mortgage. However, property bought before the marriage is safe from creditors.

How to Close a Bank Account After Someone Dies

Thu, 23 May 2019 20:03:11 +0800

When someone dies, it leaves many loose ends to tie up. One of those loose ends is a bank account, which can be difficult to close if the bank will only allow the person on the account to close it. There are steps you'll need to take to close the account, including having an executor named.

Do Overdrafts Affect Your Mortgage?

Thu, 23 May 2019 20:03:10 +0800

If you have ever experienced a bank overdraft, you know how stressful it can be. While spending more than you have in the account can cost you in fees and time spent worrying, it likely will not change your current mortgage. However, there are some nuances about which you should know.

How Is the Length of a Loan Determined on a Car Loan?

Thu, 23 May 2019 20:03:10 +0800

While typical car loans tend to last between three and five years, some lenders will allow for a six or seven year loan. When deciding which length of car loan is right for you, you'll also need to take in to consideration the interest rate and what the total monthly car payment is going to be.

Is It Possible to Increase Your Credit Score 300 Points in a Year?

Thu, 23 May 2019 20:02:57 +0800

Improving a credit score dramatically isn't impossible, and boosting it by 300 points in just one year might be a bit of a stretch. It's best to focus on doing everything you can to increase it and hoping for the best. Even a score improvement of 100 points could make a big difference.

Why Do Credit Unions Charge Lower Rates Than Commercial Banks?

Thu, 23 May 2019 20:02:50 +0800

Anyone shopping for lower rates will quickly find that credit unions are often more competitive than banks. There are several reasons for this, including the fact that you often need to work for an employer or have similar special status to qualify. Unions are also encouraged to build communities.

Can Breaking My Cell Phone Contract Hurt My Credit Rating?

Thu, 23 May 2019 20:02:49 +0800

Breaking your cellphone contract early will come at a cost, but it shouldn't hurt your credit rating as long as you pay all the fees you owe. If you don't have a cellphone at all, though, you'll miss out on the positive benefits paying your bill on time can bring to your credit score.

How Do I Cancel My Capital One Credit Card?

Thu, 23 May 2019 20:02:48 +0800

You can easily close your Capital One credit card account with a phone call or a few mouse clicks. However, closing an account does not cancel your debt, which you are still required to repay. You'll need to stop any automatic payments that use your card. Be aware that your credit score may change.

If My Wages Are Being Garnished by a Creditor, Can My Tax Refund Be Taken?

Tue, 21 May 2019 17:32:37 +0800

If your wages are being garnished by a creditor, they can’t directly intercept your tax return. However, if you have the return directly deposited into your account, the creditors may seize it from your account. A tax return can only be directly intercepted by government agencies.

How Soon After Paying Off a Mortgage Should Your Credit Score Increase?

Tue, 21 May 2019 17:32:37 +0800

Sending in your last mortgage payment is a time to rejoice, as your financial burden has now become a lot lighter. When it comes to your credit score, however, you won't see much of a change. Although the mortgage added to the length of credit history, it no longer adds to your credit mix.

When You Swipe Your Credit Card, Does it Take Just the Numbers?

Tue, 30 Apr 2019 17:42:36 +0800

When you swipe a credit card, the terminal normally reads at least your account number, name and card expiration date from the magnetic stripe on the card. Chip cards use a different mechanism where the card authenticates to the machine for added security and counterfeiting prevention.

Formula for Calculating Adjusted Gross Income

Fri, 26 Apr 2019 18:42:03 +0800

Your adjusted gross income, also known as AGI, equals your gross income minus either a list of itemized deductions or a standard deduction. Knowing what does and does not qualify as an itemized deduction makes it possible for you to easily estimate or calculate your adjusted gross income.

Am I Responsible for Pending Charges if I Cancel a Credit Card?

Thu, 25 Apr 2019 17:46:19 +0800

By using your credit card, you agree to be bound by the card's terms and conditions. You are also bound to pay the card back. Transactions that are still pending when you close your credit card account are still your responsibility and you must pay them. The same is true of any outstanding balance.

Can I Load My NetSpend Card With a Credit Card?

Thu, 25 Apr 2019 17:46:19 +0800

There are several ways to add money to a Netspend account, though using a credit card is not one of them. You can receive direct deposits or transfers from PayPal or bank accounts, deposit cash or checks to your account or receive funds from someone else who already has a Netspend account.

5 Positive Uses for Credit

Thu, 25 Apr 2019 17:46:18 +0800

Credit cards may get a bad rap, but they actually have a few benefits, as well. Not only do they offer security if for some reason you should have an emergency expense, but they also help you build your credit. The right card can give you rewards, and you'll be able to travel internationally.

How to Add Your Spouse's Name to Your Mortgage

Thu, 25 Apr 2019 17:46:18 +0800

Adding your spouse's name to your mortgage can often be a lengthy process. First, review your spouse's credit history to see if it will negatively impact your current mortgage interest rate. Next, contact your lender and let them know you'd like to add your spouse to your mortgage.

Can Employment Background Checks Hurt Your Credit Score?

Thu, 25 Apr 2019 17:45:09 +0800

Many employment background checks include the information found in your credit report. Although the information contained in your credit file can hurt your chances of getting hired at some companies, the inquiry is considered a soft one and won't have any impact at all on your credit score.

What Are Forgivable Loans?

Thu, 25 Apr 2019 17:45:08 +0800

Forgivable loans have strings attached in order to persuade the borrowers to fulfill certain responsibilities. For example, soon-to-be teachers and doctors may not have to repay a loan if they agree to work in a certain location upon graduation. This helps fill employment gaps and retain workers.