Today’s top story: Can you have too much credit? Also in the news: 5 things to know about gold’s record breaking run, the Equal Opportunity Act and its effect on women’s finances, and negotiating with your landlord during COVID-19. Can You Have Too Much Credit? Credit scoring formulas don’t punish people for having too many […]
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Wednesday’s need-to-know money news
Today’s top story: Ask a points nerd: Why won’t the FAA require masks? Also in the news: How to get started if you’ve never had a bank account, Virgin Atlantic files for bankruptcy in the US, and it’s time for a mid-year tax withholding checkup. Ask a Points Nerd: Why Won’t the FAA Require Masks? […]
Tuesday’s need-to-know money news
Today’s top story: Mortgage outlook for August. Also in the news: Why graduate students need to mind their mental health this fall, your best shot at lowering the cost of private student loans, and how to get help with missing coronavirus relief payments. Mortgage Outlook: Recession Presses Down on August Rates Likely record lows for […]
Monday’s need-to-know money news
Today’s top story: Why student loan borrowers shouldn’t wait on Congress for more relief. Also in the news: A new episode of the SmartMoney podcast on safe travel and handling old debts, how to make sure a contract tracer isn’t a scammer, and what to do if your health insurance drops your monthly prescription. Smart […]
Can you have too much credit?
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 […]
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 […]