A grace period allows you to avoid interest or fees on borrowed money for a specified time. Grace periods differ by lender and loan type, but understanding them can save you money. Here’s what you need to know about periods. How Does a Grace Period Work? Lenders often provide grace periods, although they are not …

Life is full of unexpected twists and turns. While some events bring joy and celebration, others can lead to significant financial stress. Major life events such as divorce or medical issues can have profound impacts on your credit score. Understanding how these events affect your credit and learning strategies to manage your credit during these …

11 Signs Your Credit Card Has Been Hacked Credit card fraud is prevalent. In 2023, it was the most common type of identity theft, according to the Federal Trade Commission (FTC). With so much information stored and transmitted digitally, your credit card information can be hacked and used without your card ever leaving your wallet. …

As we celebrate Memorial Day, we take time to honor and remember the brave men and women who have made the ultimate sacrifice for our country. At Credit Nerds, we understand that the best way to honor their legacy is by supporting the veterans and families who continue to serve our nation in countless ways. …

Understanding how your account balances affect your credit is crucial in managing your financial health. This article explores the dynamics between your balances and credit scores, detailing strategies for optimal management. The Influence of Account Balances on Credit Scores Account balances directly impact your credit if they are reported to credit bureaus. The way these …

Finding ways to reduce your spending can help you save more or keep more in your pocket. If you're feeling financial pressure, you might be consciously limiting everyday spending or cutting back on discretionary areas in your budget. However, what about the spending you do unconsciously? "Budget leaks" are money you spend without thinking or …

When you're on the hunt for investors to help purchase a business, you're seeking more than just capital; you're searching for individuals who trust your judgment and share your vision. This search can seem daunting, but with the right approach, you can connect with many investors eager to support a person like you. In this …

Navigating auto insurance can be complex and confusing, but understanding common pitfalls can save you money and enhance your coverage. Let’s explore eight typical mistakes people make when buying or maintaining auto insurance and how you can steer clear of them. 1. Failing to Shop Around A significant mistake that can impact your budget is …

Bankruptcy can shield you from financial ruin when debts become insurmountable. However, it has severe, long-lasting negative impacts on your credit and is best considered a last-resort option. How Does Bankruptcy Work? Bankruptcy protects individuals who can't pay their debts from losing everything to creditors. In the U.S., special federal courts oversee bankruptcy, providing a …