June 26th, 2017

Understanding Credit

60 Stories for 60 Years – #31

Wow! Where do I begin…I purchased my car in 2009 and was recommended by the dealer that I should use Cornerstone to receive an additional incentive off my loan payment if I opened an account, so of course I did! This has to be one of the best financial decisions...

Things to Know About a HELOC

Great work — you’ve managed to accumulate some equity in your home. Perhaps you’ve paid down the mortgage diligently, or maybe the property’s market value has gone up since you bought it. Either way, the amount you owe is considerably less than what you could get for the place in...

What is EMV?

EMV stands for Europay, MasterCard and Visa and it is the global standard for credit cards equipped with chips, as well as the technology used by merchants to authenticate a transaction when a chip card is used.  As a result of a number of large-scale security breaches and increasing credit...

Choosing a Credit Card Wisely

Depending on the source you consult, you’ll learn that the average American has 3 – 4 credit cards, but some have many, many more. There isn’t a single “right” answer about how many credit cards a person should have. But here are a couple of tips for choosing a credit card wisely to fit your personal financial...

What’s your credit score?

Do you know if your credit report information is correct and up-to-date? You’ve probably heard that it’s important to review your credit report on an ongoing basis. Did you know that you have the option to receive free credit reports from the three credit reporting agencies each year? Here’s the...

Understanding home equity loans

A home equity loan, sometimes called a second mortgage, allows you to borrow money at a very competitive rate using your home as collateral. Your available equity is based on the appraised value of your home less the amount you currently owe on your first mortgage. There’s an added benefit...

Improving your credit score

If you’ve ever gotten a credit card or applied for a loan, your credit score has come into play.   Credit scores play a major role in determining whether or not someone will be approved for revolving credit, personal loans, mortgages, or any other type of credit.  Credit scores can also...

Credit Card Fine Print

Credit card debt hit a peak in early 2009 as the recession was getting into full swing and then took a pretty dramatic dip. While part of that dip can reasonably have been attributed to a change in attitude about carrying significant credit card debt, a large part of the...

Managing debt.

Understanding the different types of credit can help you better manage your debt. Secured credit includes loans or lines of credit that are secured by either the item being purchased, like an automobile, or secured by some other form of collateral, like your home.  Secured credit will almost always have...

Should I Consolidate My Debt?

Exactly what is a debt consolidation loan?  Do you need one? Will it really help reduce your debt? It is fairly common that offers for debt consolidation roll in at the beginning of the year.  After all, billions of dollars are spent during the holiday season and much of that...

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