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Posts about Credit (2)

Smiling older man sitting on a cushioned patio chair, holding a credit card and talking on his phone, with a relaxed and cheerful expression.

Start the New Year Fresh with a Credit Card Balance Transfer

By: American Heritage 01.19.23 3 minute read Credit

Between the rising cost of gas and groceries, holiday expenses, and unexpected bills, chances are your credit card balance may be a little higher than you’d like. Luckily, there’s a simple solution to help you lower your monthly payments and pay off your credit card debt faster: transferring your current balance to a low- or no- interest credit card. Here’s how a credit card balance transfer can help you get a fresh start and give your budget some breathing room in the new year.

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Product Spotlight: Platinum Preferred Mastercard®

By: Holly Love 12.01.22 3 minute read Product Spotlight Credit
 

Credit cards are the most versatile product in your wallet and can be the ticket to a strong credit score and healthy financial habits. By mastering the most popular financial tool, you can demonstrate to lenders that you are a responsible borrower, ushering in new opportunities.

Shopping for a new card? Continue reading to see if the Platinum Preferred Mastercard® is a good fit for your banking habits.

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Empower Yourself and Your Future with Financial Wellness

By: Holly Love 10.20.22 4 minute read Policy & Economy Credit

International Credit Union Day ®, also known as ICU Day®, is celebrated on the third Thursday of October. This year marks the 74th anniversary of the day, with the theme “Empower Your Financial Future with a Credit Union™.” This special day is brought to you by World Council of Credit Unions (WOCCU) and Credit Union National Association (CUNA).

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Debt Skills and Time Management: How to Master Both

By: Holly Love 09.22.22 3 minute read Savings & Budgeting Credit
 

There are only twenty-four hours in a day, and how you spend each one can impact your entire life. If you frequently find yourself trying to magically turn back the clock, you may be in “time debt.”

Ineffective time management skills can cause us to “borrow” time from other activities to try and catch up with obligations, such as canceling one activity to make time for another. This then creates a “debt” to the first activity that needs to be repaid, and the cycle continues.

Unlike other forms of debt, time is a limited resource that is impossible to ever truly gain more of, and in the end, the bad habit of borrowing time will only lead to stress and neglected responsibilities.

By utilizing financial debt management skills, we can’t gain more time, but we can tackle time debt.

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Here’s How Credit Card Interest Is Calculated

By: Holly Love 06.16.22 3 minute read Credit
 

Credit card interest is often discussed, but not always understood. Despite the number of people who keep a credit card (or several) in their wallet, not everyone can explain the math that goes on behind the scenes.

Understanding how your monetary tools work is an important part of financial literacy, which is why in this article, we’ll break down credit card interest into basic dollars and cents.

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Zero in on Reducing Debt with This Type of Credit Card

By: Holly Love 07.22.21 3 minute read Credit
 

Credit cards are one of the most versatile tools you can carry in your wallet. From getting extra rewards when swiping at gas stations or grocery stores to building your credit score, these pieces of plastic can impact your financial health. With so many options available, how do you choose?

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6 Questions to Ask Before Getting a Loan or Credit Card

By: American Heritage 06.24.21 4 minute read Credit

The right loan or credit card can give you more financial freedom and open up exciting opportunities – from traveling the world to buying your first car or home. But borrowing money is a big responsibility, and it’s not a decision you should make lightly. Failing to use credit responsibly can damage your credit or lead to serious financial problems.

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Guarding Against Debit & Credit Card Fraud

By: American Heritage 06.03.21 3 minute read Credit

It’s no surprise the credit and debit cards are so popular. They’re simple, easy to use, and accepted almost everywhere. But this popularity has also made them a common target for thieves and fraudsters. According to the FTC, in 2020 alone, nearly 400,000 people fell victim to credit card fraud. The consequences can be serious, from financial loss to damage to your credit (not to mention the stress).

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Loans & Borrowing: 10 Terms You Should Know

By: American Heritage 09.17.20 3 minute read Home & Mortgage Credit

Whether you’re managing your day-to-day finances or preparing for the future, loans and credit cards may be an important financial tool to support your personal goals.

The process of comparing your financing options and choosing the right one can sometimes feel overwhelming—especially with all the financial jargon and concepts associated with loans and borrowing. Fortunately, many of these concepts are less complicated than they seem. Here’s a quick overview of some of the most important borrowing terms you should know. Learn them now, so you can make smarter borrowing decisions later.

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Help: I’ve Been Denied for a Loan!

By: Holly Love 07.26.19 5 minute read Credit

If you’ve been declined for a loan, don’t worry—you’re not alone. The average American household has an estimated $20,221 in carried credit card balances according to a 2023 Nerdwallet study, so it’s no surprise that many of us need help with large expenses. Unfortunately, some loans get declined. If you’ve recently applied for a loan and didn’t get the answer you were hoping for, your best tool is education.

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