MoneyWise


Credit Card Mistakes

September 25, 2018

A double-edged sword cuts both ways as they say.  If you look up the definition of that ominous-sounding weapon, it could show a picture of something that you carry in your wallet every day: a credit card.  On this edition of MoneyWise, Rob West and Steve Moore discuss the negative impact carrying a credit card balance or making late payments.

Then, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:

  • If you know of a house selling for $20,000, have $1,000 in savings and good credit, should you consider a mortgage to buy the house? 
  • If your aunt owns a condo with 11 years left to pay on it, is it a good idea to pay off the mortgage and let her pay you back at a reduced interest rate?
  • If you've heard about Stockpile mentioned on MoneyWise but know little about it, is itworth looking into?
  • If you're living with your mother to help her and this has left your personal home vacant, are there reasons you shouldn't consider renting it out?

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