The Finance Steward

The Finance Steward This page is designed to help those who have questions surrounding Financial Literacy.

We will talk about some best practices with your banking, starting a business, establishing credit, maintaining credit etc.

01/03/2023

We provide resources and information on how to build credit, repair credit, and maintain your credit.

This is a great read!
01/02/2021

This is a great read!

"No amount of money can compensate for a lack of character, honesty and genuine empathy towards others," a father writes in a letter to his young child.

06/23/2020

5 Good Things About Secured Credit Cards

Secured credit cards can be a good option for building or rebuilding your credit. There are five benefits that stand out for consumers with blemished credit or no credit at all.

1) You can often get approved for a secured credit card when you can't get approved for a traditional credit card. Paying the security deposit shifts the credit risk away from the credit card issuer.

2) They typically report to credit bureaus. Unlike a prepaid credit card which lets you make electronic payments just like with a credit card, a secured credit card will send your account history to the credit bureaus to be included in your credit report.

3) A secured credit card can help you establish or re-establish your credit. Since payments are included in your credit report, paying on time and managing your balance will help improve your credit score. After raising your credit score, you may be able to qualify for a regular credit card.

4) Your security deposit is used only if you default on your payment. Unless your defaulted balance is more than your deposit, you won't get sent to collections for defaulting on your payments. Though the card issuer will keep your deposit, you don't have to worry about debt collectors hounding you for missed payments on the card. The late payments still will hurt your credit score.

5) You can earn rewards on purchases with some cards, such as Discover and Navy Federal's secured cards. If you pay your balance regularly before interest charges accrue, this can help to offset the amount of your security deposit.

Make smart moves!
06/14/2020

Make smart moves!

06/13/2020
For those who have no idea about how to create a budget, try this FREE budget calculator
06/13/2020

For those who have no idea about how to create a budget, try this FREE budget calculator

Quicken Personal Finance has a FREE budgeting calculator; and other free money management tools and tips. Visit us today for free, money-saving tips!

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