Skip to main content


Featured Topics

January Money Challenge: Audit Your Automatic Bills & Subscriptions

Will S.
Welcome to The Penny Hoarder’s first monthly money challenge of 2022. The aim is to help you find simple ways to save money each month. To kick things off, let’s start with a question: How many subscriptions do you have? If you’ve lost track of the number over the years, you’re not alone. But we’re going to help you audit your automatic bill payments and subscriptions to help you save on services you no longer need. Here’s what to do to take the challenge: Go over your monthly statements...Read More...
Last Reply By Will S. · First Unread Post


It's no secret the interest rates on credit cards is sky high – much higher than the APR on car loans, mortgages and student loans. To help you conquer credit card debt, The Penny Hoarder is currently offering a free course that covers: Why focus on credit card debt How to stop depending on credit cards How to pay off credit card debt Your options if you can’t afford your debt What to do when you pay off your debt If you're interested, sign up to Credit Card Debt Bootcamp here: ...Read More...
Last Reply By ceri dwen · First Unread Post

High Limit Cards Wanted Please

Rick Campbell
I don't open new cards very often but when I do I usually have a reason for a particular card. At first it was building credit, then it was for higher limits ( Over $1,000) then it was balance transfer, whatever I needed. Some credit cards generally come with a large initial credit limit, some generally are small others are in-between. Some cards you will not get over $500, some are between $1,500 to $5,000, some are $7,500 to $25,000 others are higher or unlimited. I want to get another...Read More...
Last Reply By Rick Campbell · First Unread Post

A First Timer's Guide to Credit Cards

Hello, Penny Hoarders! I am 21 years old and have never had a credit card. By default, I have no debt. What is your advice to someone who is very conservative with their money, but is also interested in learning more about cash back rewards/point systems attached to certain cards? I like to keep things simple when it comes to my finances, and I think this has been the biggest mental road block for me when it comes to applying for a cc (when my debit is so easy is manage). Let me know your ...Read More...
Last Reply By Angie P. · First Unread Post

How can I make extra money to pay for my surgery?

Kelsey Del Valle
I was injured about 10 years ago and had to have surgery on my spine, re-injured in 2016, and my symptoms and pain have returned and are worse than ever. My insurance is pretty much useless and I need a surgery that I cannot afford. The pain I’m in cannot be put into words and I just want my life back. My credit is atrocious mostly from poor decisions as a young adult. I am working but I don’t make enough to put money aside each paycheck. Does anyone have any advice on what I should do? My...Read More...
Last Reply By Big Lew · First Unread Post

Possibly Idiotic Credit Question

Glen Warner
A few weeks ago, my apartment managers informed all of the residents that the apartment complex was being torn down and rebuilt, so we had to be out within three months. I found a place a mere 16 minute walk away that was (pretty much) perfect. I filled out the application, paid this, that, and the other fee, got a glowing recommendation from my current apartment managers, and everything looked good ... and all that was left was a credit check. I (foolishly) thought I would be fine, seeing...Read More...
Last Reply By marcdjones · First Unread Post
Hey ya'll! So, i've had an issue for many many years when it comes to keeping and saving my cash, or using that cash to pay off credit cards. I I know, that it has much to do with how I was raised. I'm not by any stretch of the imagination wealthy or well off for that matter in my opinion. But i did manage to save a few thousand bucks, but i carry some cc debt. It's about $4,300 right now. I generally pay the minimum payment and occassionally will do a bit more. I wrestle with...Read More...
Last Reply By Cindyloo · First Unread Post

Recent Credit Score Calculation Change

Rick Campbell
I have a question about the recent change to how credit scores are calculated, the "NEW" formula or method they are using now. Has the "NEW" method put more weight or focus on the amount of credit you are using compared to the previous system? I ask because when my credit usage is zero my score is one number, then, I can use as little as 1% of my available credit and my score will take a FIFTY (50) POINT DROP just from using 1% of available credit. In the last year or so, I have kept my...Read More...
Last Reply By Rã · First Unread Post

raise your credit score

I received correspondence that i could raise my total credit limit by adding a new credit card. Why would i need another credit card? I have high FICO score and doing quite well paying off credit card debts. i have cards that I dont use so i will not rack up debt again. I ask you why shoud i get another card. Thank you very very much to answering this burning questionRead More...
Last Reply By Moore Income · First Unread Post

They took back our credit limit

Jamie Vaccaro
My husband and I have worked hard to have great credit. We pay on time, pay more than the minimum and sometimes just pay off the card at once. As a benefit, all of our credit card companies have given us generous credit limits. In December of 2020, the credit union that we have one of our cars with messed up our payment and reported it being late to the Big Three (Transition, Equifax and Experian). Discover card somehow found out and immediately lowered our credit limit. I only found this...Read More...
Last Reply By Jamie Vaccaro · First Unread Post

Credit Seekers BEWARE!

Rick Campbell
Just an FYI in case it had not been discussed. Due to Covid-19 and the current and extended economic uncertainty, employment uncertainty and difficult time. Many banks, credit cards and other creditors are being very strict on approvals and on credit limit increases. Where in January 2020 you could easily get a new credit card, loan or credit limit increase. Now they are either not approving or approving for far less. Example, I received a credit limit increase on one of my cards in January,...Read More...
Last Reply By Mexpensive · First Unread Post

Experian Boost

Leslie Kay
Anyone else had any good or bad experiences with adding that Experian Boost to your credit report. It instantly added 37 points to my credit report by adding payment history for my utilities. It only adds accounts with a good solid payment history. I was wary but so far so good.Read More...
Last Reply By Debi Moore · First Unread Post
If reading isn't your thing, here's a video I made covering FICO scores So, what is a FICO score? First, FICO stands for the Fair Isaac Corporation. The FICO score was created in 1989 as a standardized way for lenders to interpret your credit report and determine whether or not to give you a loan. How is a FICO score different than a credit report? A FICO score is simply a summarized version of your credit report. Your credit report lists all your credit history, but it doesn’t keep track of...Read More...
Last Reply By Brooks Cadorin · First Unread Post

Dumb Question

I know this will probably be a dumb question but I've never had a credit card. My husband and I are going to split and I wanted to know what kind of a first credit card can I sign up for? Is there such a thing?Read More...
Last Reply By Misty · First Unread Post

Credit Repair Journey

Mark Roland
My scores were 490TU 507EX and 505EQ as of 1/08/19. I was looking in to getting a VA home loan and was directed to a credit specialist who was able to pull my scores and disect my credit. It wasn't pretty. My first plan of attach was to analyze and target the items which had the highest and immediate impact on my score which were recent collections with the highest balances. I got those off first. Then I paid off the rest one after another. Simultaneously I increased the credit line on my...Read More...
Last Reply By Mark Mitchell · First Unread Post


I recently applied for a loan and along with the denial list as the credit bureaus that they used was one I had never heard of . It is SageStream. Has anyone else ever heard of them? I being the savvy consumer that I am looked them up online. I found them and they are legit. I filled out the form and received the report. I was very surprised at what was in there.I was very surprised at how low my score is considering that my credit score is very good.They use your phone number , the distance...Read More...
Last Reply By Mexpensive · First Unread Post

Credit Report Inaccuracies Tip

Rick Campbell
I highly recommend using a credit building website to monitor your credit such as CREDIT KARMA or CREDIT SESAME so you can monitor your credit. Doing this allows you to see how tour credit actions have consequences, both good and bad. Almost in real time, usually weekly or monthly as it updates. This is important, and they are free. You can monitor credit inquiries, reporting, balances, accounts, payments, spending and lots of things. I had a delinquent account on my credit for 7 years, it...Read More...
Last Reply By kellly · First Unread Post


Rosemary Daniel
Does anybody know anything about American Express being able to freeze your bank account I'd like to open up a checking account because I'm not getting any of my unemployment checks due to the mail being backed up but I'm afraid that they will freeze my unemployment checks please advise thank you for your time and consideration in this matterRead More...
Last Reply By JeremyM · First Unread Post

High Limit Credit Cards

Rick Campbell
I was wondering if anyone can recommend some HIGH LIMIT CREDIT CARDS that are not insane on their requirements. High limit I would consider to be over $10,000 and NOT be due in full each month, can carry a balance and pay minimum payments. Obviously I don't expect a $20,000 limit with a 400 credit score. But some are really simple, some are insane such as Chase 5/24 rule, some I hear are worse, 3/24. Thanks for any tips. Rick PS...if my topics help, vote for them or like them, thank you.Read More...
Last Reply By PiNaY · First Unread Post