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Having a Baby Can Lower Your Credit Score

November 27, 2009 by · Leave a Comment 

We blog a lot about bad credit repair and the measures consumers take to regain control of their credit but sometimes it’s the little things that count.

When you go to pay your deductible or any hospital costs after baby, think again before reaching for your credit card. A large bill will drastically increase the balance on your credit card, which could lower your credit score because it impacts your “credit utilization,” (a piece of the puzzle that makes up your FICO number.)

Instead, experts agree that you should consider paying with cash, check or if you choose to use a credit card, pay off your card prior to the next reporting cycle. Keep in mind that you’ll want to do some research because billing cycles range in length. Once you get your statement in the mail it’s too late- the balance will probably affect your credit score. Alternatively, you could pay off your credit card the same day you pay the hospital bill. These measures will keep your credit intact, which is important especially for those of you focusing on credit repair. Furthermore, using a “rewards” credit card will double your pleasure, so to speak, because you’ll get a rebate or air miles back. This example illustrates how fixing credit or even maintaining good credit can boil down to what seems like a small decision, and it’s wise to consider all expenditures and how they will impact your credit.

The advantages of tax lot accounting

November 24, 2009 by · Leave a Comment 

As people are looking for ways to maximize their capital and other assets, they frequently look to software to help them find new approaches or eliminate costly redundancies. One example is collateral management software, which helps financial service providers make the most out of their back office resources and devote staff to other, more important tasks.

But there is another sector of software that can provide benefits to the financial services industry. An effective tax lot accounting software program can help keep track of all of their purchases – even if they make more than one purchase of the same security. Doing this can save people taxes by minimizing their current net worth through the deferment of the realization of capital gains.

In addition, enhanced cost basis reporting through tax lots can also help you determine which shares to sell first. By having all of your most expensive shares in one tax lot, you can realize tax savings and maximize your investments.

Shopping For Home Insurance

November 20, 2009 by · Leave a Comment 

It is important to shop around for home insurance quotes to ensure that you receive the best possible price for a policy that meets your needs. In order to compare accurate quotes, make sure that you provide the same information to each agent or company.

According to the National Association of Insurance Commissioners (NAIC), insurance agents and companies require the following information so that they can provide an accurate home owner insurance quote.

  • Description of your house
  • Distance from the nearest fire department and fire hydrant
  • Square footage
  • Security devices
  • A photograph of your home
  • The coverage and limits you need.

For cheap home insurance and a way to compare prices online, please visit Home Insurance Quotes provides quotes from the leading home insurance carriers in the nation so that you can find the insurance you need at an affordable price.

Interchange fees inconclusive

November 19, 2009 by · Leave a Comment 

Advocacy efforts over the prospect of credit card interchange regulation have led to a gridlocked debate between retailers and credit card companies, reports the National Journal. Interchange fees are the costs stores pay to banks when customers use credit cards. According to the article, points supporting retailers include:

  • Total costs to accept credit card payments for merchants have risen over time as consumers use cards more.
  • Part of these increased costs may be the result how Visa and MasterCard competed to attract and retain bank issuers to offer cards by increasing the number of interchange fee categories and the level of these rates.
  • Consumers who do not use credit cards or internet credit card processing may be paying higher prices for goods and services, as merchants pass on their increasing card-acceptance costs to all of their customers.
  • Proposals for reducing interchange fees would benefit merchants. Consumers would also benefit if total merchant service companies reduced prices for goods and services, but identifying such savings would be difficult.