This page links to all of the Articles in the Blog. Credit Basics What is Credit? What is difference between your Credit Report, Fico Score, and your Credit Karma Score? Why is your Credit Score Important? How are Credit Scores Calculated? Where to get your Credit Report/Score for Free Why are Credit Cards Important? Debit Card Advantages and Disadvantages Debit Card Debacle Debit Card Fees The Credit Card Minimum Payment Trap Student Loans and Debt Building Credit Building Credit with No Credit History What is a Secured Credit Card? Secure Credit card Special Note What is a Credit Builder Loan? What is an Authorized User? How do Airline Miles work? How to choose a Bank or Credit Union Managing your Credit No Grace Period or Float for You Managing your Credit Cards with Auto pay Credit Card Cash Advances Zero Percent Credit Card Offers The Tenth/Twenty-fifth Credit Card Game OOPS I missed a Payment How the Minimum Credit Card Payment will Break You Credit Card Statem...
Jae’s story….. ****How to go broke buying a Used Car. A friend of mine bought a used car. She paid about retail book value. She had been repairing her credit from some hard times so her credit was not very good. She had been turned down for a couple of loans. She found a dealer that could get her financed at 18%. She spent $20,000 on the used car, it was only a year old and in great shape. The dealer told her if she did not miss any payments for the next year she could probably get it refinanced at a lower interest rate in a year as her credit score increases. He also sold her a warranty for $4,000 that was added onto the car loan. It is now 18 months later. The car has dropped in value by another $3500. She has paid down the loan $2400. She cannot get it refinanced because she is about $5000 upside down in the car. So she is stuck in a car that is depreciation faster than she is paying it off. She got the lo...