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Summer Bucket List That Won’t Ruin Your Credit

Summer Bucket List That Won’t Ruin Your Credit

Everyone dreams of visiting an exotic destination. The great pyramids in Egypt, the jungles in the Amazon, the country of your family’s ancestry. Or maybe your bucket list caters more to the adrenaline-seekers, with items like skydiving, bungee jumping, or swimming with sharks. As fun as it is to dream of these adventures, we’re often brought back to stark reality when we find the price tags associated with them. If sticking to a budget or repairing your credit is your priority right now, you don’t have to sit inside this summer discouraged. Take advantage of these summer bucket list items that won’t ruin your credit or break the bank to have a fun-filled summer regardless of your budget or credit situation. Visit every state and national park in your state. You’ll probably be surprised at how beautiful and majestic some of the sights are in your own backyard. Climb to the highest point of elevation in your state. Learn to identify star constellations and spend a night underneath the sky. Use the Night Sky app to help you discover new constellations and learn interesting facts about our solar system and universe. Go to a cultural festival. International communities in your area often hold festivals to celebrate their culture, food, and way of life, and open it to the public for everyone to come learn and enjoy. Most of the time admission is free, and food and activities are cheap.  Have a foreign film movie night. Your local public library likely has an extensive collection of foreign art house films, which you can check out for free. Visit family members living afar...
How Having Multiple Credit Cards Can Help Your Credit.. or Ruin It

How Having Multiple Credit Cards Can Help Your Credit.. or Ruin It

The cashiers at the store offer them, your mailbox is always full of them, and even your bank seems to be constantly promoting them. Credit card offers bombard us at every turn, and a lot of them have some pretty enticing rewards and promotions that may have you wondering, “what would happen to my credit if I did apply for these? How many credit cards is too many?” The answer may surprise you, because the quantity of credit cards does not affect your credit as much as how you manage them. You can do more damage with one single credit card than with a dozen cards if you don’t use it responsibly. Here’s why. Credit Score Calculations Your credit score is calculated based on a few different factors, and some are more important than others. These include: Payment history: 35% Amounts owed: 30% Length of credit history: 15% Credit mix: 10% New credit: 10% And here’s how having several credit cards can impact each factor contributing to your credit score. Late payments Your credit score is meant to tell lenders how financially responsible you are, so it makes sense that the largest factor is your payment history. If you have always made your payments on time, you will likely have a decent credit score, since more than one-third of your score depends on this. However, when you add several credit cards to the mix, it can be easy to lose track of payments, annual fees due for each one, and other balances you owe. Simply stated, the more payments you owe, the more likely you are to miss one,...
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