NidalM gives a great tip for financially ambitious cardholders:

As your credit score improves, ull get access to better cards that completely blow store cards out of the water. Stick to it!

The tweet highlights one of the forgotten truths in credit- it’s a process. Getting good credit takes persistence and careful financial planning, not one shot remedies or quickie cures.

So stick to it! You can take your credit back.

Financethink tweets out a question:

FTT: Anyone take a personal loan to pay off credit cards? http://bit.ly/2GH5KU

Occasionally, you may have a credit card bill that’s too much to pay. In some cases, that bill can be so significant that interest charges and other fees can be very expensive.

Why do people take out loans to pay off their cars? In some cases, private loans can have lower interest rates than credit cards. If your debt is significant enough, that can …

Michaelceci provides a cautionary tale:

I just watched someone split a $600 dollar purchase across 4 different credit cards. Cut them up now.

Should you split charges across cards? And if not, then why?

Obviously, there are a few cases where you may want or need to split charges across different credit cards. If you are making an exceptionally large purchase, you may not have high enough a credit limit to pay for it with just one card. In addition, if you believe you will be declined for using just one …

Amortization and Credit Products

One of the more common  terms concerning credit products is amortization. By understanding the implications of amortization, you can plan your financial decisions more wisely.

What is Amortization?

Most simply, amortization is the process of paying off any loan over a specific period of time.

Amortization and Large Loans

For consumers, amortization is most commonly used in reference to large loans like mortgages. For example, if you have a 30 year mortgage on a two hundred thousand dollar house, the two hundred thousand dollars is “amortized” over thirty years. This …