Credit & Debt

How to Choose the Perfect Credit Card | ModMoney

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Choosing the right credit card can be overwhelming, to say the least. With a Cheesecake Factory-length menu of options, the hardest part is just knowing where to start. So first things first, where do you spend most of your money? Understanding your spending persona will narrow the universe of card choices and lead you to one that fits your lifestyle. Whether you're a traveler or a student, a credit card novice or an online shopper, there's a card tailored to fit your needs. So consider this post your go-to resource for a curated collection of the best. Here are my featured card picks for every spender.

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Does Opening a Credit Card Hurt Your Credit Score?

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Most of us are skeptical when credit card companies overflow our mailboxes with promised perks and bonuses. “Sign up for this card and receive a 50,000-point bonus!" "Apply now and get your first year’s fee waived!” As if we don’t already get enough mailers for discounted pizzas and cleaning supplies. But let’s get back to the core question. Does opening a new credit card affect your credit score? Here's the reality: adding new plastic to your wallet can actually be a good thing.

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How to Pay Down Debt

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Living with high-interest rate debt is overwhelming. You feel exposed. You feel burdened. You feel like you’re crumbling under a weight that just keeps growing. Whether you took on student loans to get through school or swiped your credit card a few too many times, you can work through it. By shifting your mindset and breaking down action items, you can start tackling your debt today. Let’s get started!

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5 Credit Card Rules You Should Definitely Be Following | ModMoney

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You know those people who pull out a different credit card each time they make a purchase? Admittedly, I'm guilty. I have several cards in my wallet that I use interchangeably to maximize reward categories. But it's important to note that I slowly built my way up to this point.

Spending on a credit card is a great way to earn cash back, travel rewards, and other perks. But if you're not diligent, you can do yourself and your credit history a disservice. Conscientious cardholders use their cards to build up their credit score and earn a return on purchases they already make. However, there is a fine line between managing your credit to build you up and mishandling it to bring you down. To help you bridge that gap, here are five rules that responsible credit card pros always follow.

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Does Canceling A Credit Card Hurt Your FICO Score? | ModMoney

Many of us have that unused credit card that sits in the back of our wallets. Now be honest. Have you ever been tempted to cancel it? After all, doesn't cleaning up old credit make sense in theory? It is a common misconception that canceling an old credit card helps your FICO score. In reality, the opposite is true. Closing an old card can have a detrimental impact! And here's why.

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Retail Store Credit Card

We've all been through this before. After exiting the dressing room, you approach the cash register with a few items in hand. You're already thinking about ripping off the tags and wearing your new clothes to dinner that evening. (Is that just me?) As you fumble for your credit card, the sales associate says, "You know, if you open up a store card, you can save an extra 15% today." What do you do? This sounds like an enticing offer! And you'll get instant gratification with a discount today. But before you reach for that shiny new retail card, there are a few factors to consider.

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The Best Credit Card for Travel Rewards

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A few months ago, Chase had the universe of credit card nerds (yes, that exists) going crazy over the release of its newest card, the Chase Sapphire Reserve. You can think of this as an upgrade to the Chase Sapphire Preferred (a must-have card until this new release). Y'all, the Reserve has all of the credit card nerds energized for a reason. In my opinion, it is the best travel rewards card on the market.

A quick caveat: I don't recommend the Chase Sapphire Reserve to a credit card beginner. If you are just starting to build up your credit score, I recommend a card with no fee and good cash back opportunities like the...

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The Ultimate Guide to Understanding Your FICO Score | ModMoney

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Credit card spending is a great way to earn cash back, rewards, awesome travel perks, and lucrative sign-up bonuses. But to fully enjoy these benefits, you need a solid credit score. So, what does that mean? How is it calculated, and how can you find yours? Read on for everything you need to know about your credit score.

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AmEx Platinum Travel Benefits in Mexico

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After a few hours of navigating through flight cancellations and delays, Chris and I finally arrived in Punta Mita, Mexico for a few days of R&R. I have to admit that I thoroughly enjoy planning and booking trips because I see it as an opportunity to get extra value for my dollar. Plus, booking a sweet travel deal is so much more rewarding than purchasing a discounted coffee table. I have a few go-to credit cards that I use when booking travel, and our Mexico trip is the perfect opportunity to talk about one of my favorites: the American Express Platinum card.

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