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Credit Cards

Friday’s need-to-know money news

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Today’s top story: Assessing the damage created by holiday spending. Also in the news: Stress testing your personal finances, New Year’s resolutions for baby boomers, and finding help with getting out of debt.

Did the Holidays Hurt Your Credit?
Analyzing the Christmas carnage.

Stress-Testing Our Personal Finances
Preparing your finances for unexpected crises.

New Year’s Resolutions Boomers Should Make
Establishing better financial habits.

8 Tips to Find Help With Your Debt
You don’t have to do it alone.

The Best Online Tools for Your Housing Search
Your new home could be just a click away.

New giveaway: “Confessions of a Credit Junkie”

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Confessions of a Credit Junkie High Res OriginalCongratulations to Kim from Davis, California, who won the copy of Mary Hunt’s “The Smart Woman’s Guide to Planning for Retirement” that I was giving away last week.

This week’s giveaway is Beverly Herzog’s “Confessions of a Credit Junkie.” Beverly made big mistakes with her credit, but was able to dig her way out. In the process, she became an expert on credit and credit cards. Whether you need inspiration for dealing with debt or just want some tips for getting the most out of your cards, Beverly’s book will be a big help.

To enter, leave a comment here on my blog (not my Facebook page).

Click on the tab above the post that says “comments.” Make sure to include your email address, which won’t show up with your comment, but I’ll be able to see it.

If you haven’t commented before, it may take a little while for your comment to show up since comments are moderated. But rest assured, it will.

The winners will be chosen at random Friday night. Over the weekend, please check your email (including your spam filter). If I don’t hear from a winner by noon Pacific time on Monday, his or her prize will be forfeited and I’ll pick another winner.

Also, check back here often for other giveaways.

The deadline to enter is midnight Pacific time on Friday. So–comment away!

Credit myths that need to die

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YCS4 coverThe more you understand about how credit works, the more frustrated you get with how much misinformation is floating around out there. At least, that’s true for me and the three experts who joined me last week on a Google hangout to talk about “Credit myths that need to die.”

John Ulzheimer, who’s worked at Equifax and Fair Isaac, has unique insight into the credit reporting world. One thing that drives him around the bend is the persistent myth that employers use credit scores to evaluate applicants. Another myth he hates: the one about how closing accounts hurts your credit scores.

Gerri Detweiler, who writes for Credit.com and runs the DebtCollectionAnswers.com, discusses how medical debts affect your credits and debunks the myth that you need to carry balances to improve your credit scores.

Maxine Sweet heads consumer education at Experian and battles the myth that there’s just one credit score.

Take some time today to check out our discussion. You’ll come away from it a lot more informed about credit and how to make yours the best.

Join our credit chat tomorrow

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liz-credit-mythsI’ll be hosting a live video panel discussion about credit myths and facts tomorrow, Dec. 13, at noon Eastern/9 a.m. Pacific. Joining me will be John Ulzheimer of SmartCredit.com, Gerri Detweiler of Credit.com and Maxine Sweet of Experian.

This is a reprise of a conversation we had at FinCon13, the financial blogger conference held in St. Louis this fall. People there really seemed to get a lot out of it, so we thought we’d share our insights with a broader audience.

My panelists have the inside scoop on the credit industry. John has more than two decades’ experience working in the consumer credit industry, including stints with credit bureau Equifax and credit score creators Fair Isaac (creators of the FICO scoring formula). Gerri’s my go-to expert on consumer credit and debt collection; she’s also the author of the books “The Ultimate Credit Handbook” and “Slash Your Debt.” Maxine Sweet leads Experian’s consumer education efforts and knows how to give clear, concise (and correct!) answers to your questions.

You’ll find the live video stream here. Please bookmark the site and join us tomorrow for insights you won’t find elsewhere. Thanks!

Wednesday’s need-to-know money news

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Today’s top story: Choosing the best credit card. Also in the news: Financial predictions for 2014, financial resolutions for Millennials, and how to manage ballooning credit card debt.

Which credit card is the best?
Don’t get sucked in by perks you’ll never use.

3 Financial Predictions For 2014 That Will Be Good For Your Wallet
Credit scores are about to become more realistic.

Nine Financial Resolutions For Millennials
How to start 2014 off right.

Manage Ballooning Credit Card Debt
What to do when that 0% interest rate runs out.

A Little-Known Credit Card Perk That Can Save You Big
Disputing charges is much easier when you’ve used a credit card.

Wednesday’s need-to-know money news

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Today’s top story: Should real estate be a part of your retirement plan? Also in the news: How to avoid resetting the mortgage clock, finding the right financial advisor, and how to manage erratic prescription drug costs. Offering Advice

How Real Estate Fits Into Your Retirement
The risks and rewards of including real estate in your retirement plan.

How to Refinance Without Resetting the Mortgage Clock
Don’t turn the clock back 30 years.

5 Questions to Ask a Potential Financial Advisor
Making sure you find the right person to serve your financial interests.

The Zig-Zag Pricing of Prescription Drugs
What to do with erratic prescription costs.

Are credit cards more expensive now?
How did the CARD Act affect what’s in your wallet?