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NFCC Blog

#AskanExpert: Should I Remove Myself as an Authorized User?

Q. When I was under 18, my parents added me as an authorized user to one of their credit cards. However, since then, they have accumulated a lot of debt on that credit card that now negatively impacts my credit score. I am continuously getting denied from credit card applications of my own. In terms of damage control, is it better for me to stay on the card and wait …Read More

JOIN @NFCC for OUR #NFCCtips chat Tomorrow Friday, November 16th AT 3PM ET FOR A CHANCE TO WIN PRIZES!

JOIN @NFCC for OUR #NFCCtips chat ON Friday, November 16th AT 3PM ET FOR A CHANCE TO WIN PRIZES!   Follow #NFCCtips as we discuss retirement planning findings from our 2018 Financial Literacy Survey and tips to prepare for retirement! There will be 2 chances to win an Amazon gift card! 1-$25 Amazon gift card 2-$25 Amazon gift card Use #NFCCtips to participate. For an easy way to keep track of the conversation, …Read More

Seven Steps to Make Extra Student Loan Payments Count

The moment a student takes out a loan is not often the time they think about how to repay them. But, the reality is the moment you sign on the dotted line, you need to figure out how you are going to pay it back. However, for many borrowers this time has already passed. So, here are seven steps you can take to start making extra payments on your student …Read More

7 Simple Tips for Small Business Owners to Manage Irregular Income

“My paycheck is unpredictable.” It’s the underlying challenge every freelancer, independent contractor, salesperson, solopreneur and business owner faces. While this factor alone scares many people away from pursuing their entrepreneurial aspirations, it is nothing to fear when you are prepared to manage the potential pitfalls of irregular income. In fact, it can be a powerful motivator. Here are a few ways to maximize the busy times, weather the dry spells, …Read More

Should I Stay or Should I Go…Into the Blended Retirement System?

Cue the first line of lyrics from The Clash’s 1982 hit song, Should I Stay or Should I Go! For eligible service members who haven’t already made their decision regarding whether to stay in the Legacy Retirement System or go into the new Blended Retirement System, that is the question. And the countdown to decide is on. Eligible service members who are still unsure have until Dec. 31, 2018 to make their selection, which is a big …Read More

#AskanExpert: My Debt Payment’s Too High, What Can I Do?

Q. I have $27,000 in debt (non-secured signature loans) at $1612/month in payments. I am current on all my bills, but the budget is increasingly difficult to maintain. At my current pace, I won’t be out of debt for 3 years. What can I do?   Dear Reader, Every debt repayment plan requires time, a strong budget and persistence, especially if you want to pay it off quickly. Most successful debt …Read More

What You Need to Know About the UltraFICO Credit Score

Recently, FICO announced a new scoring model that will roll out in 2019 called the UltraFICO. The new model will allow consumers to provide their bank account information to prove they are more creditworthy than they appear.  By opting in, they may have a chance to qualify when they otherwise would not. According to FICO, seven out of ten consumers that show an average savings of $400 without negative balances …Read More

Join Our Spooky Halloween #SMALLBIZMONEY Twitter Chat Wednesday, October 31 AT 2PM ET FOR A CHANCE TO WIN PRIZES!

Follow #SmallBizMoney as we discuss how to establish a business credit profile and general credit awareness for Small Business Owners in honor of Credit Awareness Month!  We will be joined by @JayDesMarteau of @TDNews_US! Did you know your small business likely has a credit score of its own? Spooky, we know! If not, do you know how to establish a small business credit profile? Paying bills late can be dangerous for your …Read More

Selecting the Right Financial Counseling Organization for You

Regardless of your particular need, selecting the right financial professional is vital. Unfortunately some organizations, including some that label themselves “nonprofit credit counseling agencies,” may be more interested in their own bottom line than in helping their clients. Consumers need to know the difference when selecting a financial professional. And they must know the warning signs of a financial counseling agency who might not have its clients’ best interests in mind. …Read More

Business Loan vs. Line of Credit: What’s the Difference?

Positive cash flow, or working capital, as its often referred to is one of the most common challenges business owners face. Whether for payroll, inventory, equipment or any other expense, having extra funds on hand can go a long way toward keeping your company running smoothly. Not only that, it can also help you make decisions and take steps to grow your business.   You know you need working capital, …Read More