In short, yes, you can have too much available credit. How much available credit is too much? The answer to “what’s considered too much credit” is not so black and white. But, the factors normally come down to the company…
If you apply for a credit card, for example, and are declined, you can contact the credit card company and ask that they provide a recon or reconsideration of your application decision. During a recon, the credit card company reviews…
Opportunity cost is the potential gain that you could achieve by doing one thing over another. Let’s consider the following about a $50,000 automobile that you plan on purchasing: You have $50,000 in cash that you won’t need access to…
A grace period has different meanings, but it typically refers to the amount of time that you have before something (usually negative) occurs. For instance, if you have an auto loan that is typically due on the first day of…
The credit score that you will need to obtain credit will depend on a number of factors, including the type of credit that you’re seeking, and most importantly, the individual lender’s criteria. Generally speaking, buying a car requires less scrutiny….
The amount of credit that you need is just that. It’s the amount of credit that you personally feel that you need. The amount is not the same for everyone as every person’s financial goals and plans are different. For…
A perfect credit score is generally not required. In fact, almost every lender has their own set of underwriting terms that include other factors aside from credit score. So, even if you’ve achieved a perfect credit score, it’s possible that…