US Economy News: Good Things Come in Threes
Credit Sesame discusses U.S. economy news, economic growth, inflation and the trade deficit. Talk about a supply chain problem. Few things have been in shorter supply this year than good economic news. However, the initial report on U.S. Gross Domestic Product (GDP) during the third quarter of 2022 contained a triple dose of good news. […]
Why ARMs Can Be Good for First-Time Homebuyers
Credit Sesame discusses the possible benefits of adjustable rate mortgages for first-time homebuyers. Tax benefits, equity building, freedom and stability are a few of the reasons to own a home listed by the National Association of Realtors. You can live in the same spot for as long as you want without worrying if the landlord […]
Joseph’s Story: Rebuilding Credit Means Stability
Credit Sesame tells Joseph’s story and how rebuilding credit changed his life. Credit scores are a measure of your risk to lenders and are often equated with eligibility for credit. What those three-digit numbers don’t show is how much credit can mean to your quality of life. Credit Sesame’s team interviewed named Joseph, a Credit […]
Personal Finance Weekly News Roundup October 29, 2022
Credit Sesame’s weekly news round up October 29, 2022. Stories, news, politics and events impacting the personal finance sector during the past week. 1. Court puts a hold on student loan forgiveness The 8th U.S. Circuit Court of Appeals has put a hold on President Biden’s student loan forgiveness plan. The hold is temporary until […]
Consumers Face Record Credit Card Debt
Credit Sesame discusses how rising interest rates contribute to record credit card debt. A new report shows that American consumers are adding record interest costs to their expenses. To add to the worst inflation in 40 years, consumers are taking on on record amounts of credit card debt. Combined with fast-rising interest rates, this means […]
Build credit by reporting your rent payments
Credit Sesame discusses how you can build credit by reporting your rent payments to the credit bureaus. Are you young and haven’t established a strong credit history yet? Got a low credit score you’d like to increase? There is one strategy that can accomplish both goals: Reporting your rent payments to the credit bureaus. Take […]
7 Reasons to Apply for Student Loan Forgiveness
Credit Sesame outlines 7 reasons to apply for student loan forgiveness. Student loan forgiveness just got real. On Monday, October 17, the Department of Education launched the official application for student loan forgiveness. A successful application allows borrowers with federal student loans to have up to $10,000 worth of that debt forgiven, plus another $10,000 […]
How Does Debt Settlement Affect Your Credit Score?
Credit Sesame discusses whether debt settlement affects credit score. If you have overwhelming debts , you might be considering debt settlement — asking creditors to accept less than what you owe as payment in full. This is a way to erase your debt balances quickly, but how does debt settlement affect your credit score? How […]
Leverage Your Credit: What it Means and How to Do it
Credit Sesame on what it means to leverage your credit. The term “leverage” simply means using something you have to get the result you want. In this case, what you have is excellent credit. And you can use it to: The old saying, “It takes money to make money” is only partly true. You can […]
Build Retirement Wealth by Using Health Savings
Credit Sesame discusses using health savings to build retirement wealth. The recent surge of inflation increases the cost of a comfortable retirement. To meet that cost, it’s more important than ever to make the most of your retirement-saving opportunities. Besides traditional retirement savings vehicles such as 401(k) plans and IRAs, a Health Savings Account can […]
Personal Finance Weekly News Roundup October 22, 2022
Credit Sesame’s personal finance weekly news roundup October 22, 2022. Stories, news, politics and events impacting the personal finance sector during the last week. 1. Colleges profit by recommending banks to students The Consumer Financial Protection Bureau (CFPB) issued a report to Congress about financial arrangements between banks and institutions of higher education. Schools often […]
How debt changes retirement
Credit Sesame discusses how debt changes retirement funding and financial security. In mid-2022, the amount of debt held by people aged 60 years and more reached an all-time high. Along with Americans in all age groups, seniors are piling up record amounts of debt. However, a large debt burden can be especially burdensome to retirees. […]
Pre-approved Credit Card Applications are a Win-Win
Credit Sesame on why pre-approved credit card applications are a win-win for consumers and credit card companies. Credit card offers fill your mailbox, flood your email inbox and interrupt your television shows. When consumers are bombarded with pitches to that degree, is it any wonder they get a little jaded? Should you care when a […]
How Inflation Threatens Retirement Savings
Credit Sesame analyzes the effect of inflation on retirement savings. Saving for retirement is tough enough under normal circumstances. Inflation makes it even harder. Retirement may seem a long way off, but the threats that inflation poses to your retirement security have to be faced now. Otherwise, inflation can put you way behind your retirement […]
Maintaining Good Credit has Become a High Stakes Game
Credit Sesame on the reasons for maintaining good credit in today’s economy. The stakes for maintaining good credit are higher than ever. In October 2022, recent news provides multiple examples of how important good credit is in today’s economy, and how consumers’ credit is under attack. Concerned Lenders are Tightening Credit Standards According to the […]
