I’ve opened more than a dozen credit cards and figured out exactly how opening a card for the bonus affects my credit

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. Business Insider may receive a commission from The Points Guy Affiliate Network, but our reporting and recommendations are always independent and objective.New credit cards temporarily lower your credit score, but using them responsibly can raise your credit…

5 Mistakes That Sabotage Your Company’s Bank Credit Score

Bank Loans Yes, there are many types of creditors from which you can get funding for your business. But here’s why good bank credit is one of the most important. Image credit: PeopleImages | Getty Images April 12, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Bank credit is the full…

What to Do If Your Credit Card Application Was Rejected

Photo: Getty ImagesNo one likes to admit that they’ve been rejected for a credit card, but it happens to more of us than you might think.According to the National Foundation for Credit Counseling, of the 19% of people who applied for a new credit card in 2018, 8% percent also got rejected. Meaning quite a…

4 credit score horror stories that could happen to anyone

A person’s credit score determines the likelihood they’ll repay debt.Simple mistakes or oversights can sink a credit score.Getting caught up in life events such as the purchase of a new home or going on vacation can make it easy to overlook seemingly minor financial mistakes.Thankfully, all of the people in these credit score horror stories…

The best way to build your credit is the same strategy people use to build wealth

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, but our reporting and recommendations are always independent and objective.It can seem intimidating to build your credit score, but it’s not hard to maintain once it’s established.Your credit…

How Paying Your Credit Card Minimum Puts You in a Debt Spiral

Image: Ludde Lorentz on UnsplashIf you have a credit card, you should, theoretically, know how missing a payment or paying off less than your total balance each month can lead to a debt spiral. The interest rate on credit cards is very high compared to other financial products, and it compounds when you don’t pay…

The Difference Between Hard and Soft Credit Inquiries

Image: rawpixel on UnsplashIf you’ve received credit offer after offer in which you’re “pre-approved” for a certain product, you may wonder how the lender made their decision. The insurance/credit card/mortgage company likely made a “soft” credit inquiry into your report without your permission, allowing them a glimpse of your credit.Soft credit inquiryIn addition to those…

Follow This One-Size-Fits-All Financial Advice

One of the underlying principles of Lifehacker is that not every hack works for every person. This is especially true of money advice, because everyone’s individual situation and goals will vary dramatically from everyone else’s. You might overspend when using a credit card, for example, so advice on the best rewards card doesn’t work for…

Should You Get the Apple and Goldman Sachs Credit Card?

Photo: Drew Angerer/Getty ImagesApple and Goldman Sachs will launch a joint credit card this spring, the Wall Street Journal reports. The card is expected to be paired with new Apple Wallet features that will allow cardholders to “set spending goals, track their rewards and manage their balances.”The Journal reports that the card, which will use…

Run a Comprehensive Background Check on Yourself

Do you know who’s collecting information on you? If you’ve applied for a job, apartment or insurance, chances are you’ve had a background check run on you. These reports can include information on your income, loan payments, debts, and on and on, and consumer reporting companies can even include a “risk score” for you.And while…