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NFCC Blog

Ask an Expert: What is a Charged Off Account?

Q. What is a charged off account on my credit report? Dear Reader, Seeing a charged off account on your credit report can be a bit confusing because the term is not self-explanatory. It doesn’t help that “charged off” is used interchangeable with “written off,” which in many scenarios means that the account has been paid off. In this context, charged off refers to an account that has become so …Read More

Can I Pay My Taxes with a Credit Card?

As the holiday haze starts to lift and spring begins peeking over the horizon, the realities of being in a new fiscal year start to hit us all — right in the pocketbook. Somewhere between Valentine’s Day and Easter, the commercials for tax preparation providers take over the airways, and we start keeping watch for the W2s and 1099s soon to be hitting our mailboxes. For some consumers, tax time …Read More

Ask an Expert: What is a credit report and why is it important?

Q. What is a credit report? Dear reader, A credit report is a very important document used by lenders and financial institutions to make their lending decisions and to set the terms and conditions of any credit they give you. To take control of your finances, it is recommended to review and understand your credit report thoroughly. So, let’s start by discussing the kind of information you will find on …Read More

How to Start Managing Small Business Finances

Starting a small business is an exciting, yet daunting process. You’ve decided to venture out on your own and may not be entirely versed on how to manage business expenses. And that’s okay. Tackling all that comes with a small business takes a lot of work, so it’s essential to get organized right away. From time management to money management and everything in between, your small business will require lots …Read More

How Much House Can I Afford?

For most people, a home purchase will likely be the largest purchase that they will make in their lifetime. So, it’s important to be as educated on the subject of home ownership as possible. In order to help you out, we have created a list of a few things to keep in mind when looking to see how much one can afford to spend on a house.   How much …Read More

5 Mistakes Most Millennials are Making with Their Money

Despite making more money than our parents’ generation, many millennials are still behind when it comes to their finances. Their financial future might be in jeopardy unless they realize the changes that need to be made in their money management. To make the wisest decisions in our finances, it’s important to know these five mistakes most millennials are making with their money.    1 – No plan for their cash …Read More

Issuers Deny Bitcoin Buys On Credit Card

By now, just about everyone knows about Bitcoin (currency code: BTC), and that trading it has become a major social trend. Average citizens are freely buying and selling the cryptocurrency through smartphone apps on their morning commutes. The meteoric rise in price and popularity of BTC has driven many retail investors into the market at a breakneck pace. For some individuals, the fear of missing out (FOMO, in market lingo) …Read More

Ask an Expert: When Can I Afford to Retire?

Q. When Can I Afford to Retire? Dear reader, The answer to your question depends on multiple factors. To estimate when you can afford to retire you have to take into account your age, your life expectancy, your current retirement investments, and the lifestyle you expect to have once you retire.   These questions are better addressed with a professional investment advisor. In the meantime, you can estimate the amount …Read More

When Should You Consolidate Credit Card Debt?

The Reality of Using Credit Cards Between card designs, rewards programs, and one-step purchasing, it can be easy to become credit card complacent, so comfortable swiping for everything that you start to overlook the fact that credit cards are a form of debt. Every time you use your credit card, you borrow the money for each purchase from the issuing bank — and you are responsible for paying that money …Read More

How to Get a Small Business Loan Even if you Have Bad Credit

It’s no secret that finding small business financing can be an arduous process. And beyond everything else you hear you need in order to qualify for a loan, there always seems to be that one non-negotiable: a good credit score. While having good credit certainly makes it easier to qualify for a small business loan, it’s time to dispel the myth that you won’t be able to find business financing without …Read More