Tag: credit cards

Growing Credit Card Debt

Some families were able to pay down credit card debt during the pandemic but in the last two years, with rising food and fuel prices many have had to return to credit card use. One family who had reached financial stability in 2020 has already maxed out two new cards for food and rent. Late fees, rising interest rates, global turmoil, and widespread job losses could add to the financial burden that may families experience in the coming months.

More debt, higher fees: Credit card borrowers face mounting burdens

Charge It

CreditCardLogos_000Although this article is for recent college grads, there are plenty of great tips about understanding your credit score and how it works for and against you.  For example, did you know that borrowing less than thirty percent of your available credit actually makes your credit score increase?  Marilyn Lewis, in her article, 12 Ways for College Grads to Build Good Credit lays out basic steps to growing and maintaining your score as well as diversifying the types of credit you are using.  Many believe paying in cash is an important skill to learn but a healthy credit score may be even more useful.  So, every once in a while it’s a good thing to pull out the plastic and say, “Charge it.”