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Credit Score

Tuesday’s need-to-know money news

February 18, 2020 By Liz Weston

Today’s top story: Identity theft protection you may not know you already have. Also in the news: How auto insurers use you non-driving habits to raise prices, how younger consumers can get a credit boost from their elders, and how to close a credit card the right way.

Identity Theft Protection You May Not Know You Already Have
Some surprising sources.

How Auto Insurers Use Your Nondriving Habits to Raise Prices
What you need to know about price optimization.

Younger Consumers, Get a Credit Boost From Your Elders
Authorized user status could give you a boost.

How to Close a Credit Card The Right Way
Protecting your credit score.

Filed Under: Liz's Blog Tagged With: auto insurance, closing credit cards, Credit Score, Identity Theft, identity theft protection, price optimization

Thursday’s need-to-know money news

February 13, 2020 By Liz Weston

Today’s top story: How to navigate your most dangerous decade. Also in the news: 5 questions to ask before you share a credit card, how to use your tax refund to polish your credit, and how to save on your cell phone bill without a family plan.

How to Navigate Your Most Dangerous Decade
Your fifties can be daunting.

5 Questions to Ask Before You Share a Credit Card
Preventing future disagreements.

How to Use Your Tax Refund to Polish Your Credit
Giving your credit a little boost.

How to Save on Your Cell Phone Bill Without a Family Plan
Discounts aren’t just for families.

Filed Under: Liz's Blog Tagged With: 50's, cell phone bill, credit card sharing, Credit Cards, Credit Score, fifties, job loss, life changes, tax refund

Friday’s need-to-know money news

January 24, 2020 By Liz Weston

Today’s top story: What you need to know about the new FICO score. Also in the news: 5 reasons to add beneficiaries to your investment accounts now, 5 home improvements that may not pay off when you sell, and what to do if you lose your credit or debit card while traveling.

Worried About the New FICO Score? Here’s What to Know — and Do
Get the details.

5 Reasons to Add Beneficiaries to Your Investment Accounts Now
Making things easier on your loved ones.

5 Home Improvements That May Not Pay Off When You Sell
Skip the chef’s kitchen.

What to Do If You Lose Your Credit or Debit Card While Traveling
Rule #1 – Don’t panic.

Filed Under: Liz's Blog Tagged With: credit card, Credit Score, debit card, FICO score, home improvements, investment account beneficiaries, lost card, traveling

Monday’s need-to-know money news

January 13, 2020 By Liz Weston

Today’s top story: 8 million student loan borrowers must do this in 2020. Also in the news: 5 ways to get credit-healthy in the New Year, how to take charge of your credit this year, and where to file state and federal taxes for free.

8 Million Student Loan Borrowers Must Do This in 2020
Time to renew your income-driven repayment plan.

5 Ways to Get Credit-Healthy in the New Year
No better time to get started.

How to Take Charge of Your Credit This Year
How to make your credit shine.

Where to File State and Federal Taxes for Free
Filling begins January 27th.

Filed Under: Liz's Blog Tagged With: credit card debt, Credit Score, credit tips, free filing, income based repayment, Student Loans, Taxes

Q&A: Credit scores measure Dad’s accounts, too

January 6, 2020 By Liz Weston

Dear Liz: I recently added myself onto my 95-year-old father’s two credit card accounts as an authorized user. I am his agent under a power of attorney and handle his finances. I noticed that after being added to those accounts, my credit scores increased. When he passes on, I plan to close those accounts. Will my credit score be negatively affected?

Answer: Possibly. Closing accounts doesn’t help your scores and may hurt them. Scoring formulas are sensitive to the amount of credit you have versus how much you’re using. Closing an account shrinks your available credit, and the formulas don’t like that.

If you have good scores and plenty of other open accounts, though, the damage from closing these accounts probably will be minor and short-lived.

Filed Under: Credit Scoring, Q&A Tagged With: authorized users, Credit Score, q&a

Tuesday’s need-to-know money news

December 10, 2019 By Liz Weston

Today’s top story: Don’t let holiday shopping sink your credit score. Also in the news: 10 housing and mortgage trends or 2020, money habits that are doing you more harm than good, and the No. 1 job of 2019 pays $140,000 – and its hiring growth has exploded.

Don’t Let Holiday Shopping Sink Your Credit Score
Not the kind of gift you should give yourself.

10 Housing and Mortgage Trends for 2020
What to watch for in the new year.

These money habits in your ‘financial junk drawer’ are probably doing you more harm than good
New year, better habits.

The No. 1 job of 2019 pays $140,000 — and its hiring growth has exploded 74%
The robots are coming.

Filed Under: Liz's Blog Tagged With: 2019's #1 job, Credit Score, holiday shopping, housing and mortgage trends, money habits

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