People who care about their credit scores tend to obsess about some things they probably shouldn’t, such as the possibility they might have too much credit. Let’s bust that myth right upfront: The leading credit scoring formulas, FICO and VantageScore, don’t punish people for having too many accounts. And right now, having access to credit […]
Recent Blog Posts
Q&A: The bottom line on getting your credit scores in better shape
Dear Liz: I want to write a letter of explanation to be included on my credit reports to explain a negative posting. How much impact will the letter have on my credit scores? Answer: Credit scoring formulas can’t read, so letters of explanation won’t help your scores. You do have a federal right to demand […]
Q&A: Side effects of IRA conversions
Dear Liz: I thought your readers would benefit from additional knowledge about Roth conversions. I started converting our IRAs to Roth IRAs when my wife and I turned 60 years old. Years later, I realized that our premiums for Medicare Part B and D were higher because our income in those years exceeded $174,000. Answer: […]
Friday’s need-to-know money news
Today’s top story: How to increase your chances of credit card approval. Also in the news: How to transition from work-at-home novice to pro, why the weak dollar is good for your investments, and why champagne sales have gone flat. How to Increase Your Chances of Credit Card Approval Boost your odds by focusing on […]
Thursday’s need-to-know money news
Today’s top story: How to save on back-to-school shopping amid uncertainty. Also in the news: 5 things to know about gold’s record-breaking run, experts say new investors should quit stock-picking, and how this week’s fed meetings may impact your wallet. Back-to-School Shopping in 2020: How to Save Amid Uncertainty Whether your kids are learning in […]
Wednesday’s need-to-know money news
Today’s top story: 6 ways to finance your home improvement project. Also in the news: The dwindling power of Pell Grants to help at-need students, ‘Gamify’ your savings with a prize-linked bank account, and upcoming sales tax holidays. 6 Ways to Finance Your Home Improvement Project A breakdown of loan options. Pell Grants: Dwindling Power […]