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King Financial Blog

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WHY BEING CAREFUL OF INQUIRIES ON YOUR CREDIT REPORT IS IMPORTANT

Admin Manager - Wednesday, July 26, 2017
Few people know that when someone takes a look at your credit report that inquiry is noted. Having a lot of inquiries on your report, may show that you’re shopping for several loans at the same time – or that you previously have been rejected by lenders. Both make you appear a poor credit risk and can negatively affect your credit score. Therefore, it is recommended that you’re careful about who looks at your credit report. In case you’re shopping for a loan, show ar ..

WHY PAYING YOUR BILLS ON TIME IS SO IMPORTANT

Admin Manager - Sunday, July 09, 2017
By simply paying your bills on time you’re already improving your credit score. That sounds ridiculously simple but it really works, because paying promptly shows lenders that you take debts seriously. Paying your bills on time increase the odds of you making the payment on a new debt on time as well, and that is definitely something a lender is interested on. In fact, according to experts, up to 35% of your credit score is based on how often you pay your bills on time, this easy  ..

CREDIT CARDS: THE HIGH INTEREST RATE SOLUTION

Admin Manager - Tuesday, November 01, 2016
The Federal Reserve has raised interest rates substantially over the past two years. Consequently, credit card annual percentage rates have followed suit. Nearly all credit cards tie their interest rates to the prime rate, which has doubled to 8% from 4% during the string of rate hikes that began in 2004. This has led to interest rates on credit cards rising by 30% or more. Since August of 2006, the Federal Reserve has kept interest rates steady and many economists believe the next move may be a ..

CREDIT CARDS: HOW DO THEY DO THAT?

Admin Manager - Tuesday, October 25, 2016
During the days when the Federal Bank interest rates were at its lowest, back in 2002 and 2003 to be specific, countless credit card providers offered 0% APR credit cards to many consumers. Needing only to pay the outstanding balance, smart consumers were able to charge credit cards up to their limits without incurring monthly interest charges. The question that some people were asking when these cards were at their peak of popularity was this: how do credit card providers make money off of this ..

CREDIT CARDS: A WAY TO ELIMINATE DEBT

Admin Manager - Tuesday, October 18, 2016
It is interesting to note that what started off as a marketing gimmick has now become an almost permanent part of the credit card industry in America and today 0% APR credit cards can, in fact, play a significant role in helping a person reduce or get out of debt. What is a 0% APR credit card? APR is the annual interest rate known in the industry as the “Annual Percentage Rate”. It is a reflection of the cost of credit. In the old days, everybody paid a standard APR based o ..

CREDIT CARDS: A SMART WAY TO SAVE

Admin Manager - Tuesday, October 11, 2016
With the numerous credit card options available today, you can use plastic to pay off debt and save money at the same time. Using a credit card to get rid of debt, rather than rack it up, may sound strange but it is possible with 0% APR credit cards. All of the major credit card companies offer 0% APR credit cards - they are a great way to save hundreds, even thousands, of dollars on interest. If you use them wisely, 0% APR credit cards will help you get one step ahead in the credit card world.  ..

DON’T ASSUME THAT ONE THING WILL BOOST YOUR CREDIT SCORE A SPECIFIC NUMBER OF POINTS

Admin Manager - Tuesday, August 30, 2016
Some people with debt are led to believe that paying off a credit card bill will boost their credit score by 50 points, while closing an unused credit account will result in 20 more points. Credit scores are certainly not this clear-cut or simple. How much any one action will affect your credit score is impossible to gauge. It will depend on several factors, including your current credit score and the credit bureau calculating your credit score. In general, though, the higher your cred ..

BAD CREDIT CARDS AND HOW YOU CAN AVOID HIGH FEES

Admin Manager - Tuesday, August 09, 2016
Individuals with problematic credit histories often suffer unfairly from high mortgage, insurance and car loan rates. On top of that, they have difficulty getting approved for credit cards. The whole situation can get extremely frustrating. I get frequent emails from consumers wondering what they can do to rebuild their creditworthiness. The first is to get a credit card intended for people with bad credit. The second thing is READ THE FINE PRINT. Only a limited number of credit cards are  ..

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