Self-Help Articles

Store Credit Cards – The Good and the Bad

Does this sound familiar? Every time you check out, the cashier at your favorite department store asks if you’d like to save 10% on today’s purchase by signing up for the store’s credit card. You perpetually turn down the offer because you don’t want to go...

Student Loan Default Explained

When you took out your student loan, you signed a promissory note and entered into a legally binding contract promising that you’d repay your lender when the time came. Well, the time has come. Now, what do you do to make sure you’re holding up...

What Are Starter Credit Cards and How Can You Use Them to Build Good Credit?

In today’s economy, having good credit is about more than just being able to borrow money. In fact, credit checks are regularly required for lease approvals, with utility companies, and even as part of the job application process. While most people know that credit scores are...

Should I Consider Debt Consolidation?

Debt consolidation as a financial tool has been around in one form or another for years. While it may sound like a complicated industry term used by experts, it is actually a fairly simple concept for rolling multiple unsecured debts into one single loan for...

Debt Payment Options for Every Budget

Debt. We all have it. Debt in itself is not always bad. It can be a helpful tool in, say, covering bills during employment gaps or paying for a college education. But excess debt can be a financial burden – one that limits your ability...

How Long Do I Keep My Credit Card Statements?

In this digital age, many of us have ditched the mailed copies of our credit card statements. Instead, we do all our mobile banking on our computers or phones. But there are still holdouts, for a variety of reasons, who prefer the piece of paper...

Debt Consolidation: Which Type Is Right for You?

What’s more stressful than a pile of high-interest credit card debt? A pile of high-interest credit card debt that’s spread out over several cards, each with their own balances, minimum payments, interest rates, and due dates. If you’re struggling with multiple credit cards with high balances,...

Should You Refinance Your Student Loan?

Many people take advantage of student loans to help finance their college education. These loans are typically owned by the federal government and offer specific benefits not available through private lenders. Proof of credit, a source of income, and even co-signers are unnecessary in most...

How Late Payments Affect Your Credit Score and Why It Matters

While it may be tempting to procrastinate paying bills, your payment history is more important than you might think when it comes to the way creditors see you. Your FICO score, a number used by potential lenders to determine your creditworthiness, is weighted the most...

Considering Bankruptcy? Here’s What You Need to Know

You're drowning in high-interest credit card debt. You're way behind on your payments. Your credit score has taken a nosedive. Every time your phone rings, there's a debt collector on the line. When debt gets out of control, it's easy to feel like your whole life...

Click "More" for important American Credit Foundation client transition information