You can think of a credit score as your report card for how effectively you manage your finances, specifically your loans. The myth is that a credit score is a measure of how much debt you have, and that racking up more debt will result in a higher credit score. The truth, however, is . . . .

Focusing on debt payoff can cost you hundreds of thousands of dollars. Debt payoff strategies abound on the internet, and many mainstream financial gurus have built an empire on the common-sense approach to focus your financial efforts first on paying off your debt. The math, however, doesn’t work out in their favor.

A reader asked about using 0% balance transfers offers to manage their credit card debt. While these can be beneficial, they can also pose additional risks. Many people who use this strategy find themselves further behind than when they started. Here are some of the common pitfalls to avoid.

Here is how the data in your credit report is used to calculate your FICO credit score. Additionally, two recent FICO credit score updates have made the scoring formula much more consumer-friendly.

Similar to spontaneous combustion, spontaneous debt financing can cause a personal debt crisis to erupt seemingly out of nowhere. Control the slow rise of unplanned debt by guarding against its most common sources.

Debt is neither good nor bad; it is simply a tool. Distinguishing between the good uses of debt and the bad uses of debt is vital to proper loan management. 

Managing your credit score is far more nuanced than many think. Be careful about following these credit score management myths, as they will actually lower your score. Learn about the myths and the truth about managing your credit score

Maintaining good credit isn't just for borrowers anymore. Your credit score impacts more than just your loans. A credit score will impact your career, your love life, and your....