Bad Credit Card Moves and How to Avoid Them
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NEW YORK (TheStreet) — If you are hoping to improve your credit score, paying your bills on time is a great start. But there’s a lot more to it than that. In fact, you might be making some wrong moves even if you have good intentions.

Here are some credit mistakes you should avoid before they damage your good credit standing:

Canceling a credit card you no longer use. While it seems logical to do some wallet cleaning every now and then, canceling old credit card accounts will wipe out part of your credit history, and your credit history is one of the important factors on which your credit score is based. In addition — assuming you don’t owe any balances on those accounts — the cards can actually help you by lowering your debt utilization ratio (the amount of money you owe compared to the amount of credit you have).


For example, if you have two accounts with a $ 10,000 credit limit each and one has a zero balance and you owe $ 5,000 on the other, your debt utilization would be 25%…………… continues on

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Endangered: Use of bills, coins falling dramatically
News from Sioux City Journal:

SIOUX CITY | Think about this: Only 7 percent of fiscal transactions in the United States are handled in cash.

Could an American future without bills and coins be in store? In a century where credit cards, debit cards and online transactions are rapidly replacing payment by quarters and $ 5 bills, the end of currency certainly seems at hand.

But Morningside College Economics Department Professor Jeff Zink said while the economy is experiencing “a sea change,” a cashless society is still a considerable way off.

After all, school concession sales and kid lemonade stands don’t have a card swiping reader. At least not yet.

Zink said people have to have a basic faith in any means of payment before it can be embraced. Although there are some naysayers, people quickly moved to see online transactions for buying and selling things, and with that came a reduction in the usage of currency, he said.

“When you begin to do that, then you being to really reduce the need to carry cash around,” Zink said.

The number of $ 1 bills made since 2001 has fallen considerably, Zink noted. The U.S. Department of the Treasury Bureau of Engraving and Printing reported the number of new $ 1 bills in fiscal year 2001 was at 5.15 billion. That number fell to 1.86 billion dollar bills in 2010.

A March 2012 Federal Reserve Bank survey showed young consume…………… continues on Sioux City Journal

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