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John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

5 Credit Myths Debunked

August 22, 2016 2:33 am


There is a wealth of misinformation about credit—in fact, credit users, even those who check their scores often, incorrectly believe age, employment history and salary factor into a credit score, according to a recently released TransUnion survey.

“Checking your credit score is an important component of financial responsibility, but consumers should do more,” said TransUnion Consumer Interactive President John Danaher in a statement on the survey. “Our survey shows that even those who monitor their credit are only skimming the surface of their credit report and often don’t understand the factors that comprise their credit score.”

The most common misconceptions both credit-checkers and non-credit-checkers should know, according to TransUnion, are:

Myth: Checking my credit report will lower my score.
Checking your credit report will not impact your score—a lender checking your report, however, may.

Myth: Using my debit card will boost my score.
Use of a debit card does not reflect your credit habits, and, thus, will not impact your credit score.

Myth: My salary factors into my score.
Your salary will not impact your credit score, but a lender may factor it into the decision to approve your loan.

Myth: My credit card bill can be paid late, so long as it is paid.
Paying your credit card bill late will impact your score—late payments may remain on your credit report for seven years.

Myth: My credit score is all I need to know.
Checking your credit score is important, but so is checking your entire credit report. Assessing the full report not only helps you understand what impacts your score, but also helps you identify areas for improvement or errors.

Source: TransUnion
 

Published with permission from RISMedia.


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7 Fun, Frugal Ways to Spend Free Time

August 19, 2016 12:27 am


Spare time is something to be treasured. It can also be expensive, because there are so many tempting—and costly—ways to spend it. For the budget-conscious among us, contributors to U.S. News & World Report suggest seven ways to spend free time without breaking the bank:

1. Check Out Museums – Most of us have never explored the museums in our own communities. Free or discount admission days can provide a pleasant few hours or a fun date on the cheap.

2. Get in Shape – You don’t have to join a gym to get a healthy workout. Grab a friend for a daily walk or jog, or check out online videos for ideas.

3. Shop Second-Hand – If you do need to shop for clothes or household goods, go to a second-hand store—it’ll keep your spending to a minimum.

4. Take Up a New Hobby – Adopting a hobby, like or learning a new language or widening your cooking skills, is an affordable way to spend free time.

5. Visit the Library – Readers can check out best sellers and classics for free, along with e-books and hundreds of movies.

6. Volunteer – Find an opportunity that appeals to you, such as assisting at an animal shelter, to spend some fun, rewarding hours helping others without spending money.

7. Write a Blog – Try your hand at blogging on a topic you’re knowledgeable and passionate about.

How do you spend free time without spending money?
 

Published with permission from RISMedia.


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