Credit & Debt Smart Military Money

  • Consumer Financial Protection Bureau Will Supervise Credit Firms

    Consumer Financial Protection Bureau Will Supervise Credit Firms

    Your credit score is no doubt important to you. It can determine loan eligibility, job qualification, whether a landlord will rent to you and even security clearance eligibility for military members. So making sure your credit score and reports are accurate is also important. For this reason, the Consumer Financial Protection Bureau (CFPB) will begin to supervise credit firms as soon as September 30 according …

  • Don't Get Hooked on Military Phishing Scam

    Don’t Get Hooked on Military Phishing Scam

    The IRS recently warned the public of a phishing scheme targeting military and government employees. For those who aren’t familiar, phishing is the sending of emails claiming to be from legitimate companies in order to convince people to reveal personal information leading to identity theft. What Happened? Some individuals have been receiving an email from a .mil address, claiming to be Defence Finance and …

  • Financial Pros and Cons of Prepaid Debit Cards

    Financial Pros and Cons of Prepaid Debit Cards

    Prepaid debit cards have exploded in popularity recently. One survey by CouponCabin.com shows that consumers are 25 percent more likely to use a prepaid debit card today than they were just a few years ago. But the same survey also shows that prepaid debit cards have a mixed public perception. Are prepaid cards a smart financial tool or a sneaky money drain? We’re going to lay out the financial pros and cons…

  • A Word of Warning About Campus Debit Cards

    A Word of Warning About Campus Debit Cards

    Campus debit cards may appear to be an easy, low-cost solution to handling your finances while in college, but students should be aware that many of these cards carry excessive hidden fees. According to a report by the United States Public Interest Research Group (USPIRG), many of the banks behind these cards are taking advantage of students who need them in order to access their financial aid. There are now …

  • Understanding Debt to Income Ratio

    Understanding Debt to Income Ratio

    If you’ve done research into applying for a VA home loan or car loan, you may be familiar with lenders calculating your debt to income ratio. It’s important to know how to get a general idea of what your debt-to-income ratio is, how it is calculated and why it may affect your future financial decisions. What is a debt-to-income (DTI) ratio? Debt-to-income ratios are exactly what they sound like -- a compari…

  • 4 Credit Raising Tips Expensive Counselors Don’t Want You to Know

    4 Credit Raising Tips Expensive Counselors Don’t Want You to Know

    It used to be said that money makes the world go round. Today the better phrase may be “credit makes the world go round.” Your credit score is a factor in everything from buying a house to applying for a job, and a low score may seem impossible to fix. Because of the mystery behind credit reporting, many people turn to expensive credit counselors to fix their low score. According to a recent survey by the …

  • 9 Financial Topics To Discuss Before Marriage

    9 Financial Topics To Discuss Before Marriage

    If you’re one of the many couples preparing to tie the knot this summer or in the near future, be sure to sit down and have a serious conversation about finances before the wedding. Discuss the following nine financial topics as well as any others you find relevant to your situation so you understand where you stand individually and where you will be as a couple. Share Bank Statements A good icebreaker f…

  • Keeping Personal Information Safe After a Hack

    Keeping Personal Information Safe After a Hack

    A hack of the Global Payments network recently has once again thrust consumer security into the limelight. In the digital age, there are a lot of questions about how safe our personal information really is when we make transactions using personal information on several every day. With the hacking of personal information on popular services like Sony Live and Zappos.com, consumer information safety is a top com…

  • How Medical Bills Injure Your Credit Score

    How Medical Bills Injure Your Credit Score

    We’ve all had frustrating moments checking our credit scores. Sometimes it seems rocket science would be easier to understand than the formula credit bureaus use to calculate your score. Even though it may seem unchangeable and confusing, having a better understanding of what goes into your credit score can help you repair your score the smart way and avoid credit problems in the first place. Paying off …

  • 5 Causes of Credit Rate Increases

    5 Causes of Credit Rate Increases

    At a time when credit scores mean so much, especially to prospective homebuyers, a credit card interest rate that climbs is one of the last things military cardholders need. Before you agree to a credit card contract, dig through it and make sure you’re clear on the reasons why your interest rate could spike. Your credit card issuer cannot arbitrarily raise your interest rate. The potential reasons must b…