I looked up my credit score info, and apparently it’s bad because of a $30 charge at Kohl’s five or six years ago. I’m fairly sure I just received the card in the mail and tossed it, so I suspect someone found it and used it, but it doesn’t really matter. I would just like to pay the debt and start building up my credit. But since the account is closed, how do I pay it off?
And because I like to throw in some harder personal finance stuff into our mix from time to time, here is a post from our pals at Credit.com on figuring out when to request a credit limit increase.
A few months ago, Logan looked at the interest rate on one of her cards and said something along the lines of, “This is just getting ridiculous,” and I told her, “Why don’t you call them and ask to get your rate lowered?” Sometimes, it’s that simple. (Our friends at Credit.com say: Ask. Ask again.) She called, she asked, she was transferred to a supervisor, she was eventually offered a quarter of a percent lower—which seems insignificant, but it’s something. As the saying goes, “You don’t get what you don’t ask for.”
Credit for women.
Last month, I talked about meeting with the team at Credit.com, and mentioned that I’d periodically link or post anything from them that I thought might be useful for our readers here. Here’s a piece discussing how our credit scores are determined, and how the scoring models have changed after the recession (your payment history, for example, is more important than ever before). This is our first time posting a piece like this. If there are any specific pieces about money you’re interested in seeing, feel free to email me and let me know, so I can keep an eye out for it in the future.
Adam Kotsko has a good post about his time in grad school and his financial strategy for making it all work while his income was limited. When I was in grad school my strategy was essentially: Try to get as much financial aid as possible to limit the amount of loans I had to take out, and try not to use the loan money to live like I had an income, because besides a few freelance stuff at the time, my income was essentially zero.