How to Build Credit with a Credit Card

Credit cards are a very useful type of credit tool, and when used wisely, they can help you build your credit. However, it’s important to manage credit card use, because credit cards can also be a route to debt if you misuse them. Here are four ways you can build credit with a credit card:

1. Open your first credit card account. If you have already established some credit history, look for a card with a low spending limit, which may be easier to qualify for if your credit history is limited. Make small charges that you can easily pay off right away, and pay the balance in full every month. This will help build a profile on your credit report of responsible credit use and reliable payment.
2. Get a secured credit card. If you have little credit history or negative history, it may be difficult to get a regular credit card. A secured credit card may be an option. Secured credit cards are usually tied to a savings account, and the limit on the card is typically the amount in the account or a percentage of it.
   Just as with a regular credit card, you build credit with a secured card by making responsible charges, keeping your balance low or at zero, and paying on time every month. Not all lenders report secured credit cards to the credit reporting companies, but the lender may be willing to convert the account to a traditional credit card after a certain period of time. You should ask these questions prior to deciding whether to open any account.
3. Open a joint account or become an authorized user. If you’re having trouble getting your own credit card, another option for building credit is to become an authorized user on someone else’s account, or to open a joint account with someone who has a good credit history. Parents may choose to help a younger person with little credit history by adding him or her to the parents’ existing credit card accounts as an authorized user, or by opening a new card jointly.For joint accounts, you are responsible for repaying charges on the card, and so is the other account holder. If you don’t repay money borrowed on a joint account, the joint cardholder will have to, or you’ll both feel the credit impact of late or missed payments.
4. Request a credit limit increase. After you have paid down your debt and decreased your utilization rate, or if your credit is already in good standing, you may consider asking for a credit limit increase from your credit card provider. Your credit utilization ratio is a comparison between the total amount of credit available to you versus the total amount you’re using, and it’s an important factor in your credit score.
   A credit utilization ratio of 30 percent or less is often considered good by lenders and others; the lower the ratio the better it is for your credit score. For example, if you have $1,000 of available credit, and only owe $200, your credit utilization ratio is 20 percent. Increasing your available credit can lower your credit utilization ratio and positively impact your credit score, as long as you’re careful not to charge up to your new limit. The lower your utilization rate is, the better your credit score will be.
   On the other hand, asking for a credit limit increase when you have high balances may not be the best approach, since it may be difficult to get a provider to agree to an increase and it could increase your risk for adding more debt if your spending is not managed properly. This in turn, would negatively impact your credit.

Average Investors Making Millions (See Their Secret)

A handful of average Americans are mysteriously making fortunes in the stock market.

Vivian and Jeff Barns went on record saying they made an extra $707,046, growing their retirement account by nearly 74% in the past year alone.

Aaron Klingman, a retired physician, says he made a 400% gain on one trade alone, while John Danker, a civil engineer, reports making 290% gain.

Yet another investor made a gain of $109,115 and one guy reported gains of $77,150.

Their secret … they have access to a Wall Street insider named Paul Mampilly.

Paul is an investment legend who made $38 million during the 2008 collapse (without shorting stocks) and who managed a $6 billion hedge fund that was name by Barron’s as “one of the world’s best.”

But he recently decided to help Main Street investors make the type of gains he has made for the wealthiest investor in the world.

And his newest video is making waves.

In it, Paul reveals his No. 1 investment for 2017 … an investment that he says will “hand you a rare once-in-a-lifetime opportunity to become incredibly rich, incredibly quickly.”

And it all centers on a small device that’s just a hundredth of an inch in size.

“Never before has a technology emerged at such a breakneck pace,” he says in the video. “It will ignite a second Industrial Revolution.”

Paul reveals why 50 billion of these tiny devices will be in use by 2020, and how the technology behind it will surge into a $19 trillion industry in that time (an 8,000% increase).

Paul says this opportunity is the result of a little-known bill called the DIGIT Act. This bill ensures that this technological breakthrough breaks through …

“It’s the closest thing I’ve ever seen to government approved 8,000% growth!” Paul says.

This is the type of recommendation Paul used to give to his billionaire clients. But today, Paul is giving it to Main Street Americans so they can get in on the ground floor for massive gains.

TransUnion Partners with Carahsoft to Fortify Public Sector

TransUnion TRU recently collaborated with government IT solutions provider, Carahsoft Technology Corp., to enable delivery of its investigative and risk management tool, TLOxp, to the public sector. The company will also offer its identity authentication and verification solutions to NASA Solutions for Enterprise-Wide Procurement contracts.

Ranked among the top government contract holders, Carahsoft is a government aggregator for many of the top technology companies. It also works toward helping government agencies select and implement the best solutions at the best cost.

TransUnion will work in collaboration with Carahsoft to prevent cyber fraud with its integrated identity management tools that provide digital verification and ID authentication, along with its identification of digital behaviors indicative of cyber fraud. Carahsoft has a rich ecosystem of reseller partners, offering government agencies authoritative resources for both locating and researching connections to help prevent instances of cyber crime by identifying suspicious behavioral patterns.

The company’s investigative and risk management tool, TLOxp offers government agencies a 360-degree view of vendors, businesses and individuals by gathering information, and combining current and historical information. This enables agencies authenticate identities, detect fraud, reduce financial losses, and protect the interests of its citizens. This tool will be available in Carahsoft's GSA Schedule 70.

TransUnion has outperformed the Zacks categorized Business - Information Services industry, with a return of 3.9% as against a negative return of 1.5% for the latter, over the last one month. TransUnion is focused on organic growth to enhance its portfolio. These initiatives will help the company boost its top line, going forward.

Headquartered in Chicago, IL, TransUnion is a consumer information services firm that offers data and analytics solutions, particularly in credit risk management. The company is one of the three largest credit reporting agencies in the U.S.

What sets TransUnion apart is its distinctive and comprehensive datasets, next-generation technology and its analytics and decision-making capabilities that enable it to deliver insights across the complete consumer lifecycle. TransUnion boasts rich domain proficiency across a wide range of industry verticals, including insurance, healthcare and financial services. It also caters to verticals like wireless, real estate and general commercial/business information.

TransUnion currently carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the industry include NV5 Global, Inc. NVEE, Gartner, Inc. IT and Verisk Analytics, Inc. VRSK, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

NV5 Global has a long-term earnings growth expectation of 20%. It has beaten estimates thrice in the trailing four quarters for an average positive earnings surprise of 6.9%.

Gartner has long-term earnings growth expectation of 17.3%. It has beaten estimates in each of the trailing four quarters with an average positive earnings surprise of 14.5%.

Verisk has long-term earnings growth expectation of 11.6% and is currently trading at a forward P/E of 24.8x.

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5 Major Home Selling Mistakes to Avoid in 2017

Sally Forster Jones

Jan 10, 2017, 10:50 AM

It's a new year and it's time for a fresh start. If you're planning to sell your home in 2017, here are a few mistakes you should avoid to maximize your results and minimize your headache. Selling a home can be difficult. Side step these common mistakes to increase your chances for a smoother, faster, and more gainful transaction.

Skipping the necessary preparation. Once the decision has been made to sell, it's understandable that many sellers want to get their homes on the market as quickly as possible. However, taking the time to get your home ready for sale is one of the most important steps in the selling process.

Skipping or skimping on this step is one of the biggest mistakes a home seller can make. You only get one chance to make a first impression and a great first impression can translate to actual dollar value -- especially in a competitive market.

Take the time to paint, make repairs, declutter, tidy landscaping and stage the home, if needed. An experienced real estate professional can help you to determine what work needs to be done and how it could affect the value of your home in the local market.

Clean up and declutter. Potential buyers need to be able to picture themselves in your home --too much clutter, personal items or disorder can be distracting and turn buyers off.

Repair and upgrade. Even small cosmetic issues can be a red flag for potential buyers. Chipping paint, water stains, cracks or stained carpets can be signs of neglect or larger problems with the property. Your home should look well cared for and maintained.

Stage. Staging can range from simply refreshing and rearranging current furnishings, to editing and adding accessories, to complete professional staging.

Take great photos. Proper preparation also translates to a well-executed marketing plan. Your home should show at its best in person as well as in the property photos and collateral materials. As more and more buyers are turning to the internet to begin their home search, we rely on excellent photography to make a great first impression. Ditch those iPhone or point-and-shoot images. Professionally shot and staged property photos are an absolutely essential sales tool.

Pricing too high for the market. Pricing is the most important decision, and the one that will have the largest impact on your sales outcome. The biggest mistake sellers make is overpricing their property for the market.

Overpricing typically leads to more days on market, which can negatively affect your final sale price. Whether you're in a hurry to sell or not, time is a critical factor in selling your home. In general, the longer a property sits on the market, the less urgency buyers will feel, the more leverage they will feel they have and the less likely you will be to attract the attention for multiple offers.

Pricing can be a sensitive topic of discussion, and it's a good idea to work with an experienced professional who knows the market as well as your specific neighborhood. As a seller, it can be difficult to see your own home with unbiased eyes. Emotional attachments and financial obligations can cause sellers to reach for more value than the market will bear.

Review comparable deals in the area, take a realistic look at your home and discuss the positives and negatives of different pricing strategies with your agent to determine what will work best for you.

Even with thoughtful pricing, it's still possible to miss the mark. Sellers who are able to keep their emotions and expectations in check will be better able to reassess a situation and find a successful outcome.

Being present for showings and open houses. As much as you may want to be completely hands-on in the sale of your home, it's almost never a good idea to linger during showings or open houses. When the seller is present, it can create an awkward situation for potential buyers.

Buyers may feel they're intruding on your home, which can make it even more difficult for them to imagine themselves living there. They may feel rushed or inhibited by the seller's presence and may not take the extra time they need to go through the home at their own pace. In addition, buyers may not feel comfortable expressing their true feelings about a property which can lead to frustration and inaccurate feedback.

Pricing too high for the market. Pricing is the most important decision, and the one that will have the largest impact on your sales outcome. The biggest mistake sellers make is overpricing their property for the market.

Overpricing typically leads to more days on market, which can negatively affect your final sale price. Whether you're in a hurry to sell or not, time is a critical factor in selling your home. In general, the longer a property sits on the market, the less urgency buyers will feel, the more leverage they will feel they have and the less likely you will be to attract the attention for multiple offers.

Pricing can be a sensitive topic of discussion, and it's a good idea to work with an experienced professional who knows the market as well as your specific neighborhood. As a seller, it can be difficult to see your own home with unbiased eyes. Emotional attachments and financial obligations can cause sellers to reach for more value than the market will bear.

Review comparable deals in the area, take a realistic look at your home and discuss the positives and negatives of different pricing strategies with your agent to determine what will work best for you.

Even with thoughtful pricing, it's still possible to miss the mark. Sellers who are able to keep their emotions and expectations in check will be better able to reassess a situation and find a successful outcome.

Being present for showings and open houses. As much as you may want to be completely hands-on in the sale of your home, it's almost never a good idea to linger during showings or open houses. When the seller is present, it can create an awkward situation for potential buyers.

Buyers may feel they're intruding on your home, which can make it even more difficult for them to imagine themselves living there. They may feel rushed or inhibited by the seller's presence and may not take the extra time they need to go through the home at their own pace. In addition, buyers may not feel comfortable expressing their true feelings about a property which can lead to frustration and inaccurate feedback.

Not working with an experienced professional. Working with an experienced real estate professional can make all the difference in your home selling experience. A good agent can provide you with support, advice and resources to help you avoid many of these common pitfalls.

From preparation and pricing to marketing and showing your property, a good agent can alleviate much of the stress, time and legwork necessary to get your home sold. Real estate transactions can get complicated and once a buyer makes an offer on your home or you enter escrow, a seasoned professional who is skilled in negotiation and familiar with the process can be invaluable.

When you're interviewing and hiring an agent to sell your home, it's important to ask questions. Not all agents are created equal, so choosing the best person to represent you is key. Working with an underqualified agent, or even someone who just doesn't mesh with your personality and goals, can be just as detrimental as going it on your own.

Consider experience, past and current deals, market knowledge and marketing know-how. Equally important is to hire someone you respect, trust and feel you can work well with.

Avoid these common home selling mistakes and set yourself up for a positive and prosperous 2017.

11 useless things to stop wasting your money on in 2017

Whether it's paying a late fee or snagging a candy bar while waiting in the checkout line, it's all too easy to spend mindlessly and waste money. But that cash could be directed toward your savings goals or growing substantially in a retirement account .

"We all have room to set aside a little money for our future," certified financial planner Carrie Schwab-Pomerantz tells CNBC . "A good habit to develop in 2017 is to take on a more mindful approach to spending."

Step one is to identify where you're wasting money. Do any of these purchases sound familiar?

ATM fees

It'll cost you a record high of $4.57 to withdraw money from an out-of-network ATM. There's no reason to continue paying these fees, which can add up significantly over time.

A simple 2017 resolution: If your bank's logo isn't on the ATM, don't use it.

If you use one of the traditional, bigger banks, there should be ATM options in your area. Simply look up the locations online and put in the extra effort to get to one of your bank's ATMs. If there aren't any convenient ATM options in your city or town, you may want to consider opening a checking account with a more accessible bank.

Late fees

Like ATM fees, late fees are a pointless money suck. And there's more to late payments than simply paying a fee. Missing payments can also lower your credit score , which affects your ability to borrow money for bigger purchases, like a home or car, in the near future.

Never miss a bill again by setting up automatic payments online for fixed costs such as cable, internet, and insurance. For expenses that can't be paid online, such as rent, set up calendar reminders and pay them at the same time each month so it becomes routine.

Underused subscriptions

"Nothing makes a company happier than getting its customers to sign up for subscriptions," writes Yahoo tech columnist David Pogue in his 2016 book, "Pogue's Basics: Money."

"Millions of people sign up for 30-day free trials of things, intending to cancel within 30 days —and then they forget. Or they sign up for certain services but have long since stopped using them."

Look over your last couple of credit card statements and figure out exactly what you're paying for, whether it be subscriptions to magazines, software, or online services. Next, ask yourself which you can eliminate, and cancel them on the spot to save a couple hundred dollars a year.

You could also use Trim, which automatically finds and cancels your subscriptions with a text.

Buying lunch every day

Eating out can add up quickly. The more food you can prepare at home, the better off your food budget will be. Plus, packing lunch also tends to be better for your waistline.

Of course, it's OK to treat yourself and buy the occasional meal out, but if you're aiming to hit major financial goals in 2017, going homemade is one of the simplest ways to cut back without making dramatic sacrifices.

Bottled water

While you're getting into the habit of packing your lunch, start filling up a water bottle too.

"Most people who buy water in bottles do it for convenience," notes Pogue. "If you carry a water bottle with you, you spend nothing. (And lose weight. And live longer.)"

Cable

"The average American cable-TV bill is $100 a month," writes Pogue. That's a large sum to pay for a service that people often don't take full advantage of.

Consider cutting the cord and getting your TV from the internet, through services like Netfilx ($8 a month), Hulu ($8 a month), or HBO Now ($15 a month).

Cable box and modem

If you decide you simply can't live without your cable, at least buy your own cable box and modem.

"As though the cable companies weren't already milking you dry with the cost of the TV service, they're also charging you about $235 a year to rent the cable box," writes Pogue. "You can buy your own replacement cable box for $120 (pays for itself in eight months)."

The same goes for the cable modem. "The damage is about $10 a month, forever," Pogue says, of the renting option. "Buy your own cable modem for $100, return the one you've been renting, and boom: a $120-a-year savings."

Extra smartphone data

"The cell phone carriers hope you'll go over your monthly allotment [of data]," says Pogue. "If you do, they slap absurd overage charges onto your bill."

To never pay an overage charge again, install a "fuel gauge" app, like DataMan or My Data Manger, which will monitor the data you use and warn you if you're approaching your monthly limit. Pogue also suggests identifying the "gas-guzzlers": "Different apps use different amounts of data, and you might be astonished to see which ones are the guilty parties."

Finally, use Wi-Fi whenever you possibly can. When you're connected to Wi-Fi, you're not usingany of your data allowance.

Excess groceries

Collectively, we waste a lot of food. Every time you throw away excess groceries, that's money down the drain.

Before you grocery shop, think about the meals you're going to make for the week and write down exactly what ingredients you'll need to prepare those meals. When you actually go to the store, stick to just the ingredients on your list.

Brand-name products

Going generic — for groceries, toiletries, or pet supplies — is an easy way to save money over time. As Pogue reports, "store brands cost around 30 percent less than national brands."

You don't have to buy generic for everything. Identify what's really important to you and what you're willing to sacrifice — then, buy brand-name for the stuff you care about and go generic for everything else.

Impulse buys

From grocery stores to department stores, retailers have a way of tricking you into spending money mindlessly. One tactic is loading the checkout aisle with tempting products: cold sodas, candy bars, and 99-cent knick knacks. After all, your self-control is likely spent by the time you're done shopping, and stores bank on you giving into that pack of gum.

Skip the candy or magazine and redirect that $5 toward your savings goals or retirement account, where it could grow significantly over time.

5 Steps to Repair Your Holiday Spending Mistakes

It's a familiar refrain. We get caught up in creating a "perfect" holiday season for everyone, and in doing so, we spend more than intended on the "perfect" holiday gifts and the "perfect" holiday meal. Maybe we had to travel to visit family and ran up some significant travel spending debt.

The holidays were wonderful, but now comes the aftermath. Those credit card bills are starting to roll in with bloated balances from an excess of holiday spending. What exactly can a person do to clean up those holiday spending excesses? Here's your game plan.

Make more than minimum payments. A minimum payment on a credit card does nothing more than delay the problem. Your balance will barely go down at all, and you'll find yourself facing almost the exact same problem a month later. Paying nothing but minimum payments means that it will take years to pay off that card, plus you'll end up paying as much or more in interest than you ever spent on the card. That's a mistake. In fact, it's a recipe for financial disaster.

The smartest thing you can do is to simply make payments that are bigger than the minimum. You should make the largest payments you can on that credit card debt each month.

Be a little extra frugal, so you can afford those payments. Winter is a great time to buckle down with a little extra frugality.

It's such an easy season to cook a delicious meal at home. Make a soup in your slow cooker before you go to work, so that you come home to a great aroma and a warm meal that's ready to eat. It's a very cheap treat in the winter months.

Instead of going out on the town, spend an evening watching a movie (maybe one you received as a holiday gift) underneath a warm blanket. Instead of shopping, spend a day curled up with a good book or Netflix series.

When you're at the store, buy some store-brand versions of products instead of the name brands. You'll usually find that they work just as well as the name brands, and you'll save some money to boot.

Little steps like those can make a surprising difference. Rather than spending that "found" money, put it toward a larger credit card payment.

Discreetly sell any unwanted holiday gifts. If you're halfway into January and you haven't opened the packaging on a Christmas gift ... are you really ever going to open it or use it? Consider discreetly selling the item on Craigslist or eBay and get a return on that item.

Even better, if you have a receipt for the item, return it to the store for a gift card, then use that gift card to buy essentials for yourself. For example, if you return an electronic item to Target with a receipt, you can immediately use that gift card on groceries, thus freeing up some cash you would have spent on groceries to pay down a holiday debt.

Look for credit card balance transfer offers. Many major credit card companies -- Chase, Citi, Bank of America and U.S. Bank -- offer credit cards that come with a nice perk: You can transfer the balance of another card directly to the new card at a drastically reduced interest rate.

Take advantage of this. Transfer the balance of your current card to a new card at a zero percent interest rate or at least a very low rate. That way, payments you make on that debt will go much further toward eliminating the balance.

Note that balance transfers generally don't last forever. The lower rate tends to vanish after a while. You'll want to pay off that transferred balance quickly, so that you're not bitten by the return of a high interest rate.

Plan ahead for next year. Keep yourself from falling into this trap during next year's holiday season by starting a savings plan now. Put away $20 per week into savings and you'll have $1,000 waiting for you when the holidays come around. You might also want to consider stowing away some of your unwanted gifts for discreet regifting in the coming year.

Another great strategy to consider is talking to friends and family about cutting back for the holidays in the coming year. Perhaps you can move to drawing names for a gift exchange, abstaining from gifts altogether, making homemade gifts or just giving gifts to children.

All of these strategies work together for one purpose: reducing the impact of the post-holiday credit card bills on your life. Use these tactics together and you'll find yourself cutting right through the January credit card blues.

Five Things You Need to Know About Bankruptcy

1. “What types of bankruptcy are available to individuals?”

Chapter 7 liquidation is designed for debtors suffering financial difficulty that do not have the ability to pay their existing debts. The purpose is to obtain a discharge (i.e. elimination) of their existing debts.

Chapter 13 repayment is designed for consumers with regular income who are temporarily unable to pay their debts but would like to pay them in installments over a period of time. The bankruptcy courts will approve a repayment plan that will repay their debts in no more than five years. 

2. “What are the steps to filing for personal bankruptcy?”

When filing for personal bankruptcy, there are a few steps you are required to take under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. First, get a bankruptcy-counseling certificate.  With counseling, consumers are educated about the bankruptcy process. 

After you have filed bankruptcy, you’ll need to get a bankruptcy education certificate. Consumers are required to obtain a bankruptcy education certificate, after completing “an instructional course concerning personal financial management.” This education is meant to help you prevent additional and future financial difficulties.  

3. “How long will bankruptcy affect me?”

While bankruptcy does serve to help you obtain a fresh start with your debts, there are some ramifications to filing for bankruptcy. For example, Chapter 7 bankruptcy remains on your credit report for ten years, although that does not necessarily mean you won’t be approved for any credit before then.

4. “How do I get a bankruptcy counseling certificate?”

Obtaining a bankruptcy counseling certificate is now a prerequisite to filing for personal bankruptcy under the Bankruptcy Abuse Prevention and Consumer Protection Act. This requirement is to help ensure that consumers are educated about the bankruptcy process. Money Management International is a qualified bankruptcy counseling agency.

5. “How do I get a bankruptcy education certificate?”

To get a bankruptcy education certificate, you’ll need to take a debtor education course by an approved provider. This educational course will help you with managing your money, creating and maintaining a budget, and using credit appropriately.