The Credit Guy

Taking on new debt in an economic downturn -- During economic instability, it is wise to reconsider the need to take on additional credit lines. ... (more)

How balance transfers impact your credit score -- The ratio between how much credit you have available and how much credit is used is calculated as part of the amounts-owed category when calculating your credit score. ... (more)

The pros and cons of charging a luxury car on your credit card -- While charging a luxury car on your credit card may yield a lower interest rate, the risks are higher than a traditional fixed rate loan. ... (more)

Laid off, but stuck with corporate card bill -- A recently laid-off employee, who turned in his corporate credit card, is receiving bills for charges on his old card and wonders who is liable for the debt. ... (more)

Can you really afford that car loan? -- Buying a car with a high interest rate loan can get burdensome down the road -- especially if hard times hit and you're stuck with a loan worth more than the car. ... (more)

Patience is key to credit score repair -- It takes time and patience for your credit score to rise after you pay off neglected credit card debt, says CreditCards.com columnist Todd Ossenfort. ... (more)

Opting out of a credit card rate increase? Keep records! -- When opting out of a credit card interest rate increase, it is critical to keep copies of your letter and mail receipt in case the issuer decides to up the rate again. ... (more)

Cancel that credit card, take the credit score hit -- Yes, canceling a credit card can hurt a credit score, but it's worth it if you're struggling, says The Credit Guy. ... (more)

Add positive information to your credit report to balance the negative -- To help boost your credit score after paying off delinquent accounts, you need to add some positive information to your credit report that will help balance the negative. ... (more)

Do airline rewards programs trump cash rewards programs? -- With credit card rewards programs so prevalent, The Credit Guy Todd Ossenfort weighs the benefits of frequent flier programs versus cash back rewards programs. ... (more)

Steps to take to repair your credit -- When repairing your credit score, it's best to just start making payments on bad debt rather than trying to negotiate the balance down, says Todd Ossenfort, 'The Credit Guy.' ... (more)

When is a credit card's 'fixed rate' not really fixed? -- If you sign a credit card agreement with an issuer that claims to practice 'universal default,' your 'fixed' interest rate can be raised at any time. ... (more)

After creating a debt management plan, stick to it -- CreditCards.com columnist Todd Ossenfort strongly recommends that once you're in credit counseling, stick to the goals set up in a debt management plan and avoid temptation to get into more debt. ... (more)

Canceling a credit card vs. keeping a bad one: Compare costs -- Weighing the true cost of canceling a credit card with an annual fee: How much will it hurt your credit score? ... (more)

VantageScore credit score product combines three scores into one -- The VantageScore, introduced in 2006, credit scoring product combines Equifax, Experian and TransUnion credit scores into one score. ... (more)

When a family member steals your identity -- Here are the steps you can take when a family member steals your identity to open credit accounts in your name. ... (more)

Saving for emergencies, retirement come before paying off credit card debt -- Creating an emergency fund and contributing to your retirement fund should always come before paying off credit card debt. ... (more)

Managing on-time credit card payments -- When transferring balances to 0 percent cards, it's critical to make on-time payments or you'll lose out. ... (more)

Good credit customers: Shop around for the best interest rates -- If you have good credit, it pays to shop around for lower interest rates. ... (more)

Helping your college-age child establish credit -- Students with their first credit card can be dangerous, so parents of should help their college-age children create a spending plan, says The Credit Guy. ... (more)

Are you a credit card rookie? Here's how credit cards work -- There are all kinds of credit cards with all kinds of different rules. Make sure you pick the right card for you. ... (more)

Authorized user or joint account holder? -- There are major differences between an authorized user and joint account holder for credit card accounts. One is liable for unpaid balances and the other is not. ... (more)

Questions to ask to check out your credit counselor's credentials -- Before you hire a credit counselor, make sure you check out their credentials. ... (more)

Card issuers apply payments to lower interest rate balances first -- Balance transfers, cash advances and purchases typically have different APRs. Card issuers apply payments to lower interest rate balances first. ... (more)

Credit inquiries and your credit score -- The Credit Guy explains how credit inquiries negatively impact your credit score and how long these inquiries remain on your credit report, as well as advises readers to not needlessly shop for credit. ... (more)

Is your credit card ripe for fraud? -- When credit card account information is stolen, the thief uses your card information to request a change in the billing address and an additional card. The thief can then use your account for as long as it takes you to realize that your card has been compromised. ... (more)

Understanding how credit scores work -- Find out all the different elements that are considered when your credit score is compiled. ... (more)

Improving credit to refinance a truck or auto loan -- Steps to take to build a strong credit score. ... (more)

Credit, credit scores and walking away from truck, auto lease -- Seven months after leasing a new truck, a woman realizes she's in too deep and needs to get out of her lease. ... (more)

Starting over and getting new credit after a bankruptcy -- A woman pays off her bankruptcy and is ready to build her credit again. ... (more)

Consider all options before filing for bankruptcy, says The Credit Guy -- The reason that bankruptcy is recommended only as a last resort is because of the personal and financial toll a bankruptcy has on a person or family, The Credit Guy advises a reader. ... (more)

Car's too small, loan's upside down -- A woman who needs a bigger car but who is upside down on her car loan should focus on paying down the debt before looking at bigger vehicles, says The Credit Guy. ... (more)

Rich lady, big overdue card debt -- A woman with $16,000 in delinquent credit card debt, but plenty of money to pay it off, needs to do more than just write a check if she hopes to avoid repeating her mistake, says The Credit Guy. ... (more)

Keeping up credit while in jail may not be possible -- It's noble to want to help a jailed friend keep up his credit score while serving time, but unless you want to pay his bills, some things just aren't possible, says The Credit Guy. ... (more)

Dad co-signed, I messed up his credit. Now what? -- You ruined Dad's credit score by running up a big debt on a card he co-signed for you, but no, you didn't cost him his house, The Credit Guy advises a reader. ... (more)

How to opt out of credit card rate increases -- If you've been notified that your interest rate is going to jump, you can pay your credit card off at the old rate, but you lose use of the card, says The Credit Guy. ... (more)

When do credit card balance transfers make sense? -- Having a firm repayment plan makes the difference, The Credit Guy tells a reader. ... (more)

Pay off credit card debt or declare bankruptcy? -- It's painful, but a reader who took $13,000 in credit card cash advances and lost it to an Internet scam needs to pay the money back, says The Credit Guy. ... (more)

Q&A: Pawn off $10,000 credit card debt on son? No way! -- The Credit Guy, who answers readers' questions for CreditCards.com, thinks this parent can pay off the delinquent bill. ... (more)

Expert Q&A: Budget for debt, but not too tightly -- A recent college graduate saddled with debt needs a spending and paydown plan, but it's bound to fail unless it includes some fun, says The Credit Guy. ... (more)

Ask The Credit Guy: Should I do credit rehab myself? -- Credit counselor Todd Ossenfort, aka The Credit Guy, answers a reader's question about whether it's wise to embark on do-it-yourself credit repair. ... (more)

CreditCards.com editorial corrections policy -- CreditCards.com strives to publish accurate information. If you believe we have published something in error or wish to comment on an article, please e-mail us at editors@CreditCards.com. ... (more)