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There are plenty of things that we concern ourselves with in life. What is my GPA? Is my diet impacting my health? Should I get the new iPhone to stay relevant with the young crowd? Here at Boost Credit 101, people often ask us: Should I Have More Than One Credit Card? Absolutely! However, the answer as to how many is based on your lifestyle, your budget, your goals, and your financial plans for the future. You could own one credit card or ten credit cards. There is no set limit. Let’s dive in and look at some average numbers…

Are you seeking out financial freedom and independence? Authorized user tradelines can be incredibly helpful. Even in 2021, authorized user tradelines are powerful financial tools, even though they are often misunderstood. Authorized user tradelines are simply credit card accounts where individuals can be added to reap the benefits of positive credit. Your credit status can be determined with authorized user tradelines, though they can also help monitor your credit history and activity. Tradelines essentially work to create credit history for a grantor to provide credit bureaus, all the while helping individuals achieve and maintain healthy credit scores. Overall, tradelines are…

During the pandemic, we saw a major plunge in interest rates. The American economy has suffered through one of the strangest times in history. While low-interest interest rates are great for those looking to make big purchases or investments, they can have a pretty negative impact on the overall economy if they come around too fast.    Is Now The Best Time To Lock In Low-Interest Rates   There are a couple of reasons why interest rates fluctuate:   Decisions made by the Federal Reserve System Demands made by investors, which depend on the US Treasury Notes and Bonds Decisions…

When it comes to the relation of credit score to debt, there is a lot of confusion out there. One misconception is that debt alone impacts your credit score significantly, while, in fact, your ability to pay debt off is what will have a larger impact on your score. According to Experian data, the majority of Americans believe that having tons of debt will hurt their credit scores. This sentiment is only half true, though the data also shows that individuals who have high credit scores tend to also have the greatest amount of debt. The question is, when it…

Credit cards can be confusing for a lot of people, especially those who are new to the world of finances. It is important to note that one of the most impactful elements on a person’s credit is their credit card. Credit cards actually play a role in several credit scoring factors. Let’s dive in and take a look at how important credit cards are and why you need to care. Using Credit Cards to Build Credit One of the biggest benefits of having a credit card is using it to build credit. You can use a credit card to build…