Virginia Raegan

It can be a hassle to apply for a loan with a low or nonexistent credit score. If you are wondering what is a good APR for a credit card , the answer might be based on you credit score. What is the difference between having a low credit score and not having a credit score at all? What steps can you take with a low or nonexistent credit score? Here are a few things to consider. What’s the Difference? You might have a reliable income, but no credit history. If you use a debit card, have no debt or bills in your name, or pay cash for a lease, it’s entirely possible that you’re not building adequate credit history. This means you are unknown to credit companies on paper. Creditors and banks that manage car loans and mortgages aren’t sure whether you are trustworthy since there’s no history. However, a lower credit score means creditors already know you might be a risk. How No Credit History Affects You How can having no credit history affect you? You might have: • A higher APR on loa...

Suppose, you’re checking out at a store, and an offer pops up on your screen. You can save tons on your purchase if you qualify for the store’s credit card. If you already have a few other cards, does it matter if you sign up for this one? How many cards is too many? What if you already have multiple cards and aren’t close to achieving credit card debt payoff ? How do you keep track of all of your cards? Here is what you need to know about having multiple credit cards. What It Means to Have Multiple Credit Cards Much like “ what is a good APR for a credit card ?” whether you need multiple credit cards is subjective. The answer to both is “it depends.” For APR, it’s dependent on your credit score. For the number of credit cards question, the answer is based on how well you manage your money, how well you can juggle multiple card payments, and how much you are willing to have as a line of credit. More cards mean more spending power, but it can be easy to accrue debt quickly. If you a...