shawna frazier

Recent Articles

What will a credit card cost me?

The most important consideration when choosing a credit card is the price. Two major items make up the price of the card. One is the interest rate (usually called the “annual percentage rate” or APR), and the other is the annual fee. But other fees can add up, too.  

Study the fees

Before selecting a credit card, learn which credit terms and conditions apply. Continue Reading →

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How to get credit

If you’ve never had a credit card or a loan, your credit history is most likely a blank slate. Your credit history, as documented on your credit report, is a record of how responsibly you’ve repaid money you’ve borrowed. Creditors and lenders use your credit history to make decisions about whether to give you a credit card or extend a loan. However, if you have no credit history, there’s no record of how you might manage debt. As a result, many creditors and lenders won’t lend you money. Continue Reading →

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How is a credit score calculated?

My last column emphasized the importance of having a good credit rating. Now you might be asking yourself, “How does my credit get a score?”

Your credit score is based on the information in your credit report. Your credit score, sometimes referred to as a credit rating or Fair Isaac Corporation (FICO) score, is a number that helps lenders determine how much of a credit risk you may be. It has become increasingly common for lenders to make decisions largely based on credit scores. It is therefore important to learn how the score is calculated so you can improve your score if necessary to obtain credit. Continue Reading →

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Introducing a new column on financial advancement

Good credit — is it overrated?  

There was a time when cash was king. It seems like those days are long gone and now credit determines everything. Our county, from top to bottom, is built on credit. We need credit to buy a home, a car, to rent an apartment, to lease anything, to get a cell phone, to gain employment, to start a business, to determine interest rates on any financial obligation and your insurance payments. Continue Reading →

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