Personal Finance

Keep Credit Cards Under Control, Improve Your Credit Record
by FTC
Whether you shop online, by telephone or by mail, a credit card can make buying many things much easier; but when you use a credit card, it's important to keep track of your spending. Incidental and impulse purchases add up, and each one you make

Building a Good Credit Report
by FTC
If you've ever applied for a credit card, a personal loan, or insurance, there's a file about you. This file is known as your credit report. It is chock full of information on where you live, how you pay your bills, and whether you've been sued, arrested

Green with Envy
Green with Envy: A Whole New Way to Look at Financial (Un)Happiness
by Shira Boss
A silent struggle with our money is raging across America, each of us is harboring secret financial desires and discontents, but few dare confess. No matter how much we refuse to admit it, our contentment is based not on the size of our bank account

File Segregation: New ID Is a Bad IDea
by FTC
If you have filed for bankruptcy, you may be the target of a credit repair scheme called file segregation. In this scheme, you are promised a chance to hide unfavorable credit information by establishing a new credit identity.

Home Equity Loans: The Three-Day Cancellation Rule
by FTC
If you're considering applying for a personal loan and using your home to guarantee repayment, you should know that a federal credit law gives you three days to reconsider a signed credit agreement and cancel the deal without penalty.

Avoiding Home Equity Scams
by FTC
You could lose your home and your money if you borrow from unscrupulous lenders who offer you a high-cost loan based on the equity you have in your home. Certain lenders target homeowners who are elderly or who have low incomes or credit problems

Getting Credit Can be Hard if You're Over 62
by FTC
Credit is an important money management tool for both young and older consumers. Yet the elderly, particularly older women, may find it difficult to get credit. If you're an older consumer who has paid with cash all your life, you may find it difficult

How Reliable Is The Credit Scoring System?
by FTC
Credit scoring systems enable creditors to evaluate millions of applicants consistently and impartially on many different characteristics. But to be statistically valid, credit scoring systems must be based on a big enough sample.

Mortgages: High-Rate, High-Fee Loans
by FTC
If you're refinancing your mortgage or applying for a home equity installment loan, you should know about the Home Ownership and Equity Protection Act of 1994 (HOEPA). The law addresses certain deceptive and unfair practices in home equity lending.

Understanding Credit Scores
by FTC
What is a credit score, and how does it affect my ability to get credit? Credit scoring is a system creditors use to help determine whether to give you credit, and how much to charge you for it. Information about you and your credit experiences

Credit Scoring Facts
by FTC
Ever wonder how a creditor decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you'd be a good risk for credit cards and auto loans. More recently, credit scoring has been used to help creditors

What You Need to Know About Your Credit
by FTC
Provides tips on shopping for credit cards, using cards carefully, and keeping your credit record clean. Also explains credit reports and credit scores, how to protect your identity, improve your credit record, and what to do if you are a victim

Choosing and Using Credit Cards
by FTC
Chances are you've gotten your share of 'pre-approved'; credit card offers in the mail, some with low introductory rates and other perks. Many of these solicitations urge you to accept 'before the offer expires.'

Reverse Mortgages: Cashing In On Home Ownership
by FTC
A reverse mortgage is a loan: where the lender pays you - in a lump sum, a monthly advance, a line of credit, or a combination of all three - while you continue to live in your home. To qualify for a reverse mortgage, you must own your home.

Home Equity Loans: Avoid Becoming a Victim
by FTC
Do you own your home? If so, it's likely to be your greatest single asset. Unfortunately, if you agree to a loan that's based on the equity you have in your home, you may be putting your most valuable asset at risk.

Home Equity Credit Lines: Is It Right For You?
by FTC
Using a credit line to borrow against the equity in your home has become a popular source of consumer credit. And lenders are offering these home equity credit lines in a variety of ways.

Steps to Save Money on a Mortgage or Home Loan
by FTC
Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage - whether it's a home purchase, a refinancing, or a home equity loan - is a product, just like a car, so the price and terms may be negotiable.

Mortgage : Shop, Compare, Negotiate
by FTC
When buying a home, remember to shop around, to compare costs and terms, and to negotiate for the best deal. Your local newspaper and the Internet are good places to start shopping for a loan. You can usually find information both on interest rates