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Apache is functioning normally

November 3, 2024 by Brett Tams

You know when you’re an extrovert. So does your employer. If your vibrant personality doesn’t feel like a good fit with your current job, you may want to join the 28% of workers who said they’re likely to quit their job in 2024.

We’ve rounded up dozens of fulfilling jobs that pay well and welcome extroverts. Because sometimes, the grass looks greener elsewhere because it really is.

Key Points

• Extroverts thrive in roles that require frequent interaction, team management, and public recognition.

• High-paying jobs suited for extroverts include CEO, marketing manager, nurse practitioner, dentist, and financial manager.

• Due to their outgoing nature, extroverts tend to earn more, benefiting in interviews and performance-based roles.

• Healthcare, business, technology, and public relations may all offer fulfilling, well-paying opportunities for extroverts.

• Careers ideal for extroverts involve communication, teamwork, and competitive pay, leading to both personal and financial satisfaction.

Are You an Extrovert?

Extroverts are known for their outgoing personalities that are energized by interactions with other people. They often enjoy the spotlight and seek attention. Employees with this type of personality thrive in roles that would be pure misery for antisocial people.

If this sounds familiar, pat yourself on the back: Being an extrovert often gives candidates a leg up in job hunting. Generally speaking, the job seeking process tends to favor extroverted job seekers, who may come across more natural and comfortable in interviews than more reserved candidates.

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Common Characteristics of Good Extrovert Jobs

The right job can make you feel more fulfilled in and out of the office. Extroverts are wise to look for jobs that offer:

• Interaction with people

• Frequent opportunities for communicating or persuading

• Room for risk-taking

• Opportunities to work with a larger team

• Public recognition for good performance

• Outlets to express positive energy

And don’t miss our roundup of trade jobs that make the most money.

27 Fulfilling Jobs for Extroverts That Pay Well

Here are some ideas of where you can start looking for fulfilling jobs that pay well. Our criteria in highlighting these jobs were frequent interaction with people, opportunity to manage teams, recognition for good performance, and outlets to express positive energy. And high pay doesn’t hurt.

1. Registered Nurse

Average salary: $86,070

Primary duties: Provide patient care and education. Patients and loved ones really appreciate an extrovert’s positive energy and communication skills.

2. Nurse Practitioner

Average salary: $129,480

Primary duties: Diagnoses and treats illnesses in patients. Like doctors, NPs may order prescriptions and procedures to improve the health of a patient.

3. Physical Therapist

Average salary: $99,710

Primary duties: Helps injured people with pain, mobility, fitness, and overall function. Extroverts may enjoy demonstrating exercises and seeing progress in patients.

4. Physician Assistant

Average salary: $130,020

Primary duties: Practices medicine under the supervision of a licensed doctor. May prescribe medication or diagnostic tests.

5. Surgical Technologists

Average salary: $60,370

Primary duties: Assists with surgeries, prepares the operating room, and organizes equipment. Best for an individual who can calmly assist under pressure.

6. Dentist

Average salary: $170,910

Primary duties: Provide preventative dental and surgical care for oral diseases and tooth decay. Sees many patients every day. Great dentists combine precision technique with the ability to reassure nervous patients. Here’s one job where paying off student loans shouldn’t be a problem.

7. Dental Hygienist

Average salary: $87,530

Primary duties: Under the supervision of a dentist, cleans teeth and helps with preventative oral care and education for patients. As with dentists, a positive, reassuring attitude is key.

8. Medical and Health Services Manager

Average salary: $110,680

Primary duties: Directs medical and health services, including hiring staff, creating work schedules, working with finance managers, and developing goals for a department or organization. Managers need strong egos to take charge and get employees to fall in line. (You might also be interested in Is $100,000 a Good Salary?)

9. Sales Representative

Average salary: $73,080

Primary duties: Sells products and services for businesses. High-energy, extroverted individuals often do well getting people to buy whatever they’re selling. Sales reps who work on commission can earn big bucks.

10. Marketing Manager

Average salary: $156,580

Primary duties: Develops a client base for a business, works on the brand image, oversees creation of marketing materials, and performs market research. Manages teams that implement the vision of the company. Positions range from staff jobs on salary vs. hourly pay for freelancers.

11. Industrial Engineer

Average salary: $99,380

Primary duties: Designs systems that integrate people, resources, equipment, and processes for building products or providing services. Engineers tend to be the center of attention while building systems for an organization.

12. Financial Manager

Average salary: $156,100

Primary duties: Responsible for the financial activities of an organization, including financial reporting, investments, and decisions that drive profitability. Managers oversee teams of people and the financial direction of an organization. (The next best thing to a personal financial manager? This spending app.)

13. Human Resources Manager

Average salary: $136,350

Primary duties: Responsible for the management of an organization’s talent recruitment, training, retention, compensation, benefits, and adherence to state and federal employment law. (These folks help determine entry level salaries.) Dynamic personalities in HR help companies attract high-performing employees to an organization.

14. Chief Executive Officer

Average salary: $206,680

Primary duties: Coordinates, directs, and manages the business activities of a company. Responsible for large groups of people and programs. CEO is typically not a job for introverts, though there are high-profile exceptions to that rule.

15. Real Estate Agent

Average salary: $56,620

Primary duties: Assists with the buying and selling of real estate. Advises clients throughout the process, on pricing, marketing, contracts, financing, and negotiation. Charismatic agents can make very competitive pay.

16. Police Officer

Average salary: $74,910

Primary duties: Protects life and property, keeps the peace, interacts with the public, investigates crimes, and files reports. While the starting salary isn’t huge, extras like holiday pay, night-shift differentials, and overtime can push salaries over $100,000. Some departments are even offering signing bonuses.

17. Talent Manager / Agent

Average salary: $123,720

Primary duties: Manages the business interests of artists, performers, and athletes. Works in booking, contract negotiation, and money management. Superior communication and negotiation skills required.

18. Producers and Directors

Average salary: $82,510

Primary duties: Direct the business and creative endeavors of visual productions for television, stage, and film. This is show business, baby!

19. Construction Manager

Average salary: $104,900

Primary duties: Directs construction projects, including timelines, scheduling subcontractors, managing budgets, responding to delays, finding resources, developing relationships, and ensuring work complies with legal requirements.

20. Architect

Average salary: $99,310

Primary duties: Combines structural requirements and client preferences to design beautiful and functional buildings and interior spaces. Works in a team with many other professionals. Bringing a vision to life can be incredibly rewarding for architects.

21. Mechanical Engineer

Average salary: $99,510

Primary duties: Addresses problems through the creation of mechanical and thermal devices. Works in teams to research, design, manufacture, and test tools, machines, and engines.

22. Public Relations Professional

Average salary: $66,750

Primary duties: Create and maintain a positive public image for clients through traditional media networks and social media platforms. Great communicators will perform above expectations in this job.

23. Social Media Specialist

Average salary: $58,190

Primary duties: Learn social platforms and engage followers. Build a brand’s reputation through images and text shared with the public. It’s a job that doesn’t require a college education. It can also be a fulfilling part-time job.

24. Sales Manager

Average salary: $135,160

Primary duties: Direct sales activities for an organization. Develops new markets, trains sales representatives, coordinates distribution of a product or services, and creates goals for the department. Pursuing shared goals and collaborating with many people make this a great job for an extrovert.

25. Sales Engineer

Average salary: $116,950

Primary duties: Sells technical, complex, or scientific products or services to businesses. Persuasive individuals with a technical background are best suited for these roles. Also called software sales or technology sales.

26. Computer Systems Analyst

Average salary: $103,800

Primary duties: Also called systems architects, analysts design computer systems for organizations to help them operate more efficiently.

27. Pilot

Average salary: $171,210

Primary duties: Responsible for the safe operation of aircraft. Files flight plans, communicates with air traffic controllers and monitors weather conditions. May operate helicopters or planes as commercial or private pilots. High-achieving, extroverted personalities can do well. You may also want to read our tips on paying for flight school.

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Recommended: What Is The Difference Between Transunion and Equifax?

The Takeaway

Extroverts can do any job they set their mind to, but the most fulfilling jobs for extroverts are the ones where their work can be seen and appreciated by others. Extroverts gravitate toward careers that demand high performance, often under pressure: medicine, sales, finance, even the C-suite. In exchange, many roles in those fields offer competitive pay.

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FAQ

What job is best for extroverts?

While there’s no one job that is best for everyone, extroverts tend to find jobs that harness their drive to perform and their superior people skills most fulfilling.

Do extroverts make more money than introverts?

Extroverts tend to make more money than their introverted peers, though introverts and extroverts are both positioned to be successful leaders in their fields.

Can part-time jobs be fulfilling?

Part-time jobs can be fulfilling. They may also allow you extra time to yourself. To find a fulfilling part-time job, search websites where this is a primary feature, such as Indeed.com.

Do fulfilling jobs ever pay well?

Fulfilling jobs can pay well. If you don’t want to sacrifice your financial well-being to enjoy a rewarding occupation, pay attention to salary reports from the Bureau of Labor Statistics. They can reveal where high-paying jobs and industries are.

Photo credit: iStock/andresr

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Source: sofi.com

Apache is functioning normally

November 3, 2024 by Brett Tams

Chula Vista is a great place to experience suburban life with larger city amenities. Located just south of San Diego, it’s known for its coastal views and proximity to entertainment venues. That said, like any city, there are advantages and challenges when considering a move. Let’s take a closer look at nine of the key pros and cons of living in Chula Vista to help figure out whether or not it’s the place for you.

Chula Vista at a glance

1. Pro: Coastal access and scenic views

Chula Vista’s location along the coast provides locals easy access to beautiful waterfront views. Bayside Park is perfect for sunset strolls, while the Chula Vista Marina is great for boating and fishing. Whether you enjoy water sports or simply love relaxing by the water, living near the coast is pretty sweet.

2. Con: Traffic during peak hours

One downside to Chula Vista’s coastal appeal is the traffic, especially during peak commuting times. The drive along the I-5 or I-805 can become congested, especially for those working in downtown San Diego. This can add extra time to your daily commute.

3. Pro: Close to San Diego

Living in Chula Vista means being just a short drive from the perks of San Diego. Locals often make quick trips to Balboa Park, the San Diego Zoo, or the Gaslamp Quarter. This proximity to San Diego makes it easy to experience world-class attractions without living in the city itself.

4. Con: Higher cost of living

While more affordable than some parts of California, Chula Vista’s cost of living is still above the national average. Housing prices have risen well above the national median sale price of $428,281. Apartments in Chula Vista have followed a similar trend, going for about $2,560 on average.

5. Pro: Pristine nature

Chula Vista is surrounded by parks, hiking trails, and nature reserves. Otay Valley Regional Park is a local favorite for hiking, biking, and soaking up the California sun. You can also head to the Living Coast Discovery Center for family-friendly activities about marine life and the surrounding area.

6. Con: Limited public transportation

If you’re moving to Chula Vista without a car, getting around might be challenging. The city isn’t as well-connected in terms of public transportation as downtown San Diego. This can limit your options for commuting or running errands efficiently.

7. Pro: Thriving athletics infrastructure

The Chula Vista Elite Athlete Training Center is a true destination for aspiring athletes and even olympians. The venue hosts Olympic training programs and occasional public events, allowing locals to see top-tier athletes up close. The city’s focus on sports offers ample opportunity for community involvement.

8. Con: Crowded beaches

Living near the coast means summer beach days, but that comes with crowds. Popular spots like Silver Strand State Beach get packed with locals and tourists during peak summer months. While the beach is close, finding a quiet spot can take some time.

9. Pro: Growing job market

Chula Vista’s economy is growing, with a rise in job opportunities, particularly in healthcare, education, and local government. This increase in employment options makes it appealing to those looking to settle into stable careers without venturing far from home.

A native of the northern suburbs of Chicago, Carson made his way to the South to attend Wofford College where he received his BA in English. After working as a copywriter for a couple of boutique marketing agencies in South Carolina, he made the move to Atlanta and quickly joined the Rent. team as a content marketing coordinator. When he’s off the clock, you can find Carson reading in a park, hunting down a great cup of coffee or hanging out with his dogs.

Source: rent.com

Apache is functioning normally

November 2, 2024 by Brett Tams

According to a rumor shared by YouTuber Stan The Credit Frog, the U.S. Bank Altitude Reserve card will be discontinued within the next week. It’s possible this will coincide with the launch of the U.S. Bank Smartly card. Previously the U.S. Bank Altitude Reserve card stopped accepting applications for a few months before returning. I have no idea how reliable this rumor is at all.

Source: doctorofcredit.com

Apache is functioning normally

November 2, 2024 by Brett Tams

Spotting an up-and-coming neighborhood before it booms is both an art and a science. Early identification can yield significant benefits, including real estate appreciation, a vibrant and dynamic lifestyle, and potential financial gain. Investors and homebuyers can get ahead of the curve with the right knowledge and tools. . Here’s a comprehensive guide on what to look for, from infrastructure developments to emerging cultural trends, to help you identify these promising areas before they hit the mainstream.

Research Infrastructure Developments and Urban Planning

When a city or municipality invests in infrastructure, it often indicates plans to boost neighborhood growth. Local governments use infrastructure development to attract new residents, increase accessibility, and support economic growth. Key indicators include:

Transportation Upgrades: New subway lines, bus routes, light rail stations, or bike paths can make previously less accessible neighborhoods more attractive. Pay attention to transportation authority announcements, as new projects can signal a potential future real estate hot spot. For instance, neighborhoods along new transit corridors often see property values and demand rise significantly as the projects near completion.
Highway and Road Expansions: New roadways or highways access points can also be a game-changer for previously isolated neighborhoods. Expanded roads make neighborhoods easier to access for commuters and businesses alike, which boosts appeal for potential homebuyers and renters.
Public Space Revitalization: The addition or improvement of parks, green spaces, walking paths, and community centers suggests a shift towards making the area family-and community-friendly. Look for local government announcements and urban planning reports that include plans for enhancing public spaces.
Zoning and Redevelopment Initiatives: Pay attention to zoning changes that allow for more housing units or commercial properties. Local governments sometimes adjust zoning laws and accommodate growth, signaling a forthcoming influx of both residents and businesses.

Action Step: Check city or municipality websites for updates on infrastructure and zoning changes. Many of these initiatives are documented publicly, and attending city council meetings or tracking local planning agendas can provide first-hand insights.

Observe Retail and Business Expansion

Retail and business expansion is a powerful indicator of growth. Retailers, form big brands to independent entrepreneurs, typically conduct thorough market research before opening new locations, so their interest in an area is worth noting. Here’s what to look for:

Anchor Tenants: Large grocery stores or big box retailers can catalyze neighborhood change. Major retailers usually research an area’s demographics and growth potential before setting up shop, and their presence can transform a neighborhood.
Upscale and Trendy Shops: Independently owned boutiques, cafes, and restaurants often signal the start of a neighborhood’s transition. These businesses often appeal to younger, trend-conscious residents and indicate a demand for unique, local products and experiences. Notably, trendy coffee shops, artisanal bakeries, and specialty stores often establish a foothold early in the neighborhood transformation process.
Co-working Spaces and Start-Ups: the presence of co-working spaces, tech startups, or creative workspaces can signal that a neighborhood is attracting entrepreneurs and remote workers. These spaces contribute to a modern, community-oriented vibe, attracting young professionals who value flexible work environments.

Action Step: Regularly visit areas that interest you to see which new businesses are opening. Following local business announcements, community boards, and social media can help you stay up-to-date.

Track Real Estate Trends and Vacancy Rates

Real estate trends provide concrete, measurable insights into neighborhood growth potential, By understanding what’s happening in the local market, you can gain valuable clues about an area’s future. Key factors to consider include:

Property Value Trends: A gradual rise in property values is a good sign that demand is growing. Sudden spikes might indicate speculation, but steady increases usually signal genuine interest. You can use online real estate platforms to monitor property values over time and compare them with city averages.
Declining Vacancy Rates: When vacancy rates decline in a neighborhood, demand outpaces supply, making the area more attractive to renters and buyers. New residents moving in also stimulate demand for services and amenities, creating a virtuous cycle of growth.
Flipping Activity and Renovations: The presence of flipped properties – homes that are purchased, renovated, and quickly sold – often signals investor interest. Developers often target neighborhoods they believe are on the brink of growth, hoping to capitalize on increased demand. Increased renovations or home improvements by current residents can also reflect a community’s sense of stability and long-term appeal.

Action Step: Use online tools to set up alerts on new listings, price changes, and closed sales in specific neighborhoods.

Look for Cultural Shifts and a Younger Demographic

Demographic shifts can transform a neighborhood, particularly if young professionals, artists, and or other creatives are drawn to an area due to affordability or unique community qualities. Here’s how these cultural factors play a role:

Artistic Communities: Artists often seek affordable housing, leading them to less developed neighborhoods. Their presence contributes to a creative culture that attracts other like-minded individuals. Cities like New York and Los Angeles saw neighborhoods like Williamsburg and Silver Lake evolve from artist enclaves to mainstream hotspots.
Local Events and Community Engagement: Farmers’ markets, art walks, street fairs, and pop-up events bring attention to the area and create a sense of community. Such events can indicate a groundswell of local support and interest, often acting as a precursor to further growth.
Nightlife and Social Spaces: Breweries, art galleries, and music venues can also draw a crowd and shape a neighborhood’s culture, leading to further investment in the area.

Action Step: Follow social media channels and local blogs that report on neighborhood events, culture, and lifestyle trends.

Monitor School Ratings and Family-Friendly Developments

As young families increasingly choose urban areas for both convenience and lifestyle, neighborhoods with improving schools and family amenities attract a steady influx of long-term residents. Here’s what to consider;

School Quality Improvements: When school ratings or new schools are built, the surrounding area often experiences higher demand from families. City investments in educational facilities are also an indicator of a neighborhood’s growth potential. Look at school rating websites for information on school performance.
Family-Friendly Parks and Recreational Facilities: Neighborhoods with new or improved parks, playgrounds, sports fields, and libraries become appealing to young families. Investment in these areas shows a commitment to creating a safe, community-friendly environment.

Action Step: Research school ratings and local amenities, focusing on family-oriented areas that may be on the cusp of growth.

Pay Attention to Crime Rates and Community Safety

Decreasing crime rates and improved safety measures can signal positive changes within a neighborhood. Safe, walkable communities attract families and young professionals alike, boosting demand for housing.

Community Policing Initiatives: When cities implement initiatives that engage community members in safety efforts, it can lead to a decline in crime and an increase in resident satisfaction.
Increased Lighting and Street Clean-Ups: Small but impactful changes like improved lighting, litter reduction, and graffiti removal create a more inviting environment, Cities and developers often invest in these details before larger projects take root.

Notice Emerging Online ‘Buzz’ and Media Attention

Sometimes, the first hints of a neighborhood’s potential come from online discussions and social media. Social platforms are invaluable for getting insights from locals and identifying neighborhood trends.

Social Media Influence: Follow neighborhood-specific accounts or hashtags on Instagram and Facebook, where residents share local happenings, events, and businesses. Social media influencers who live in the area may also highlight the neighborhood, generating buzz and drawing new interest.
Local News Features: News outlets often cover up-and-coming neighborhoods when new businesses, events, or infrastructure projects are introduced. Following local real estate blogs and publications can help you stay informed about emerging areas.

Action Step: Set up Google Alerts or other online tools to follow neighborhood-specific new and blogs, ensuring you stay up-to-date on any developments.

Bringing it All Together

Spotting an up-and-coming neighborhood requires consistent research, patience, and a willingness to explore on the ground. By monitoring infrastructure improvements, business trends, demographic shifts, and community safety, you’ll be equipped to identify areas with high growth potential. Whether you’re an investor or a homebuyer, these strategies can guide your search for neighborhoods on the brink of transformation. .

Final Tips for Your Journey

Visit Frequently: Spend time walking around the neighborhood, chatting with residents, and getting a feel for the local culture. Real-life experience can offer insights that data cannot.
Diverse Data Sources: Use multiple research methods – from real estate sites to local news outlets – to paint a well-rounded picture.
Keep Your Long-Term Goals in Mind: Whether you’re investing, buying to live, or considering renting out a property, understand your own goals and timeline for holding the property.

Spotting an up-and-coming neighborhood isn’t an exact science, but by using these tools you’ll be in a prime position to discover hidden gems – before they’re on everyone else’s radar.

Are you looking to enter the real estate market this fall? Give us a call today! One of the experienced agents at Zoocasa will be more than happy to help you through the exciting home-buying process!

Looking for your dream home?

Contact us today to talk to a Realtor in your area

Source: zoocasa.com

Apache is functioning normally

November 2, 2024 by Brett Tams

You wake up to find no running water in your house. Pressure from a tree root has collapsed the line between your home and the city’s water main — and because the broken pipe is on your property, you’re on the hook for repairs.

If you want to protect your finances from this type of scenario, consider adding service line coverage to your homeowners insurance policy.

What is service line coverage?

Service line coverage is an optional type of insurance that can pay for repairs to underground utility lines on your property. Depending on your insurer, service line coverage may pay for damage due to:

Wear and tear.
Root invasion from trees and plants.
Mechanical or electrical failure.
Blockage, bursting or collapse.
Rust or corrosion.
Disconnection.
Excavation.
Rodents or other animals.

Service line coverage often comes with a deductible — the amount of a claim you’ll have to pay. Here’s an example of how it might work:

Say a heavy truck parks on your lawn to unload supplies for a new deck, accidentally crushing an underground sewer line. Replacing it will cost $3,000. After subtracting your $500 deductible, your insurance company would pay the remaining $2,500.

What does service line coverage include?

Service line coverage can pay to repair damage to the following types of underground utility lines on your property:

Water, sewer or steam.
Telephone or cable.

Your coverage could pay for services like excavation, replacing damaged piping and restoring landscaping that was disturbed during repairs. If your home is uninhabitable, your policy could also cover the cost of staying in a hotel for a few days.

Some insurance companies may offer a little extra coverage to replace your old service line with more efficient or eco-friendly technology.

What’s not covered?

Service line coverage generally won’t pay to repair utility lines located above ground. And because the coverage is designed for utility lines that link your home to a municipal or commercial service, it may not cover damage to water wells, septic systems or liquid fuel tanks.

🤓Nerdy Tip

Read your policy carefully, as exclusions vary from one insurance company to another. If you have questions, reach out to your agent.

How much does service line coverage cost?

The cost of service line coverage depends on where you live and how much coverage you want. A typical range is $20 to $50 per year, but we saw one company advertising rates as low as $9 per year for newer homes.

Is service line coverage worth it?

Service line coverage isn’t mandatory, so it’s your choice whether you add it to your policy. Keep in mind that utility line repairs could cost thousands of dollars, depending on the severity of the problem. For example, replacing a sewer line costs about $3,200 on average, according to Angi, a home services company.

You might want to consider buying service line coverage if:

You live in an older home with aging utility lines.
Your property has large trees with roots that could encroach on underground pipes.
Paying a little more for extra coverage gives you peace of mind.

Service line coverage may be less useful to you if:

Your home is new.
You live in a rural area without connections to many municipal utilities.
You’d feel comfortable covering an unexpected expense if something happened to one of your utility lines.

Alternatives to service line coverage from your home insurer

You may be able to buy service line insurance through your utility company or the city where you live. Home warranty companies such as Service Line Warranties of America and HomeServe may also offer coverage in your area for service lines.

Look carefully at the terms and cost of each plan before you buy one. You may find that they’re more expensive than the coverage your homeowners insurer can offer for potentially less coverage.

For example, the Service Line Protection Program from the New York City Department of Environmental Protection costs nearly $85 per year for water line coverage and $143 per year for sewer line coverage. That’s a total of $228 for two utility lines. Your home insurer might offer coverage for other service lines, too (such as electric and cable lines) for a lower price.

Which companies offer service line coverage?

Many home insurers offer service line coverage as an add-on, including:

Source: nerdwallet.com

Apache is functioning normally

November 2, 2024 by Brett Tams

“I think a lot of people have been worried about inflation,” said Lowrie. “Worried about the cost of goods, worried about the cost of house prices.” ‘What I do for my clients? It’s a lot of extra work’ These concerns, paired with anxieties around credit scores and down payment requirements, often kept would-be buyers on … [Read more…]

Apache is functioning normally

November 2, 2024 by Brett Tams

First-time parents can be so preoccupied with the love they feel for their new babies and the constant care required that they may lose sight of their larger financial goals. When you’re busy getting to know your little human, you may not prioritize money management.

But securing your growing family’s finances is an important consideration. You have new needs and goals evolving, such as your child’s education and your retirement. Here’s smart advice to help you manage your money well during this new life stage and beyond.

Key Points

• Parents can avoid overspending on baby gear by considering secondhand items or accepting hand-me-downs.

• Creating a budget using the 50/30/20 rule may help first-time parents manage new expenses like daycare.

• Parents can prepare for unexpected expenses by building an emergency fund in a high-yield savings account.

• New parents should continue to prioritize retirement savings by utilizing employer 401(k) plans or IRAs.

• Parents can start saving early for their child’s education with 529 plans or Coverdell ESAs.

7 Financial Tips for New Parents

Raising a child can cost more than $15,000 a year, according to one recent calculation using U.S. Department of Agriculture data. That can put some serious stress on your finances. Here’s guidance on making your money work for you and your family.

1. Avoid Overspending on Baby Gear

As a first-time parent, you likely have quite a bit of work to do before the baby arrives. You may need to create and furnish a nursery for your child, and stock up on diapers, bottles, clothes, toys, and so much more.

As you’re setting up your new life with a baby, it can feel like buying everything brand-new is the only option, but that can be costly. You might consider taking advantage of used or gifted items so as not to deplete your bank account.

You can buy a lot of items secondhand at a lower cost through online marketplaces or used goods and consignment stores. Or you might see what “freecycle” networks in your area have available at no charge. That’s one way to save money daily.

And if you have friends, family, or neighbors that already have children, they may be looking to unload some of the gear their children no longer use. Families with older kids are often happy to pass on items such as clothes, cribs, playpens, toys, and books. You might check Nextdoor.com and other community sites, which can be a good resource for local families seeking to offload these items.

💡 Quick Tip: Help your money earn more money! Opening a bank account online often gets you higher-than-average rates.

2. Don’t Live Without a Safety Net

As a parent, you have a host of new responsibilities, and expenses you never imagined may pop up. So consider these moves:

• An emergency fund becomes even more important when you have a child or one is on the way. You’re now responsible for all of their needs, and there may be unplanned costs that pop up along the way. Or, if you were to endure a job loss, you’d need to continue to provide for your child.

• Saving for an emergency is a process, and it’s okay to start small — even just $25 a week will add up over time. Some people opt to store their emergency fund in a high-yield savings account or checking account. Earning interest that way will help your money grow faster.

• Review your health insurance. You may want to opt for a different plan now that you have a child. An addition to the family is usually a qualifying life event (QLE) that can allow you to make changes regarding your plan outside of the usual open enrollment period.

• Consider life insurance and disability insurance if you don’t already have it or, if you do, see if you want to update your coverage. When a little one is depending on you, you probably want to protect their future if you weren’t able to earn your usual income. Maybe you can only afford a modest policy at this moment. That can be fine; it’s a start and something you can revisit later as you grow your wealth.

3. Keep a Budget

With a baby on board, you likely have a host of new expenses, from the life insurance mentioned above to daycare to toys (and more toys). Making a budget can help you prepare to pay for the extra expenses.

The word “budget” can conjure up fear, but it’s really just a helpful set of financial guardrails that help you balance how much you have coming in and how much is going out towards expenditures and savings.

• You might try the popular 50/30/20 budget rule which says that 50% of your take-home pay should go toward needs, 30% toward wants, and 20% toward savings.

• You could check with your financial institution to see what kinds of tools they provide for tracking your money. This can be a great resource as you work to improve your money management and hit your goals.

• To make a budget, you might also see what apps or websites offer products that could work for you. Check with trusted friends to see what they may recommend.

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4. Don’t Put Off Retirement Savings

Another financial mistake new parents: Learning to pay yourself first isn’t easy for a lot of parents to do, but it’s vital. (For instance, while you can borrow money for college expenses for your child, you can’t likely borrow for your retirement.)

For retirement saving, one way to start is by enrolling in your company’s 401(k) plan if one is offered. Some employers will match your contribution, up to a certain percentage, and you’ll be able to have your contribution taken directly from your paycheck.

If your employer doesn’t offer a 401(k), you could open an individual retirement account, or IRA, instead. Getting in the habit of saving at least a little for your own future can be important as your focus shifts to your new addition.

It’s never too early to start saving for retirement.

💡 Quick Tip: Most savings accounts only earn a fraction of a percentage in interest. Not at SoFi. Our high-yield savings account can help you make meaningful progress towards your financial goals.

5. Start Savings for Your Child’s College

Saving for your children’s tuition can be an important step for many new parents. That’s because the sooner you start, the better. Your money will have that much more time to grow. College is a big-ticket expense, with estimates of tuition in 18 years being calculated as follows:

• $25,039 per year for a public college

• $48,380 per year for a private college

While a standard savings account may seem like the easy choice, there are other options designed to help you or grandparents save for a child’s education.

• You might opt for the benefits of a 529 college savings plan. There are two types: education savings plans and prepaid tuition plans.

• With an education savings plan, a tax-deferred investment account is used to save for the child’s future qualified higher education expenses, like tuition, fees, room and board, computers, and textbooks. Funds used for qualified expenses are not subject to federal income tax.

• With a prepaid tuition plan, an account holder purchases units or credits at participating colleges and universities for future tuition and fees at current prices for the beneficiary. Money in this fund is guaranteed to rise at the same rate as tuition. Most of the plans have residency requirements for the saver and/or beneficiary.

• A Coverdell Education Savings Account may also be worth looking into. In general, the beneficiary can receive tax-free distributions to pay for qualified education expenses. Contributions to a Coverdell account are limited to $2,000 per year, per beneficiary. The IRS sets no specific limits for 529s.

calculator to check eligibility.

• Adoption Tax Credit: This offers tax incentives to cover the cost incurred if you adopted a child. In 2024, the maximum credit was $16,810 per qualifying child.

You might consult a tax professional to see which of these you can claim.

7. Teach Your Kids About Money

If kids aren’t taught the basics of financial literacy at a young age, they may struggle to make a budget, avoid credit card debt, or save money when they’re older. You can help your children learn what it means to manage money in these ways:

• Kids often love to play store, so go ahead and join in. By exchanging goods for money, they’re already beginning to understand the basic principles of commerce.

• As they get older, you may want to give them an allowance in exchange for chores or homework completion.

• You could even have them make a budget with their earnings, and encourage them to spend, save, and donate.

• You could open a checking account with them, once they are old enough, and teach them how it works.

• You might give them a gift card or prepaid debit card and coach them on sensible spending.

Can You Ever Be Fully Financially Ready for Parenthood?

It’s probably not possible to be fully financially ready for parenthood or for adult life in general. Part of each person’s financial journey is learning how to plan for the unexpected and navigate curveballs. That might mean financing a child’s dance lessons or speech therapy. You might wind up moving to what you consider a better school district and paying more for your mortgage and taxes.

That’s why embracing some of the guidelines above, such as making a budget, stocking an emergency fund with cash (perhaps sending some money there via direct deposit), and saving for the future can be so important.

The Takeaway

Being a new parent is a joyful time but also a challenging one. One priority not to lose track of is your financial health, especially since you are now providing for a little one and their future. By budgeting and spending wisely, saving for the future, and knowing which tax credits you may be able to claim, you can help yourself get on the path to financial security for your family.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 4.20% APY on SoFi Checking and Savings.

FAQ

How can you plan financially for parenthood?

Planning financially for parenthood can involve updating your budget, allocating funds to the right insurance policies and long-term goals (such as your child’s education and your own retirement), and creating an emergency fund, if you don’t already have one. Also educate yourself on any tax credits you might qualify for once you become a parent.

What are the biggest unforeseen expenses of parenthood?

Some of the unforeseen expenses of parenthood include your child’s medical, dental, and mental health costs; academic support (such as tutors and prep classes); hobbies (taking tae kwon do classes, perhaps, or traveling with their soccer club); and funding any family travel and vacations.

How much does a child cost per year?

The cost of raising a child per year can vary widely, depending on such factors as medical needs and whether they are attending public or private school. That said, recent studies suggest the current average figure is around $15,000 to $17,500 per year per child.

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2024 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.

The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

SoFi members with direct deposit activity can earn 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. SoFi members with direct deposit are eligible for other SoFi Plus benefits.

As an alternative to direct deposit, SoFi members with Qualifying Deposits can earn 4.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant. SoFi members with Qualifying Deposits are not eligible for other SoFi Plus benefits.

SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.20% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.

Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.

Interest rates are variable and subject to change at any time. These rates are current as of 10/31/2024. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

SOBNK-Q324-101

Source: sofi.com

Apache is functioning normally

November 2, 2024 by Brett Tams

Living with roommates comes with its share of benefits. It essentially cuts your rent payments in half, chores can be split multiple ways, and you always have someone to talk to. But sometimes the relationship can take a turn for the worse. If you’re stuck with a problematic roommate, it may be time to resort to legal measures to get them out. Whether you’re sharing an apartment in Portland, OR or splitting rent on a Nashville rental, we’ll show you how to evict your roommate.

Can I evict my roommate?

The short answer is yes, but there are conditions. First, you must typically have a valid reason, like unpaid rent or property damage, to justify an eviction. If your roommate is on the lease, only the landlord can initiate a formal eviction process, which includes issuing an eviction notice and potentially going to court. For roommates not on the lease but under a separate agreement with you, you can usually start with a notice to vacate if they’ve violated the agreement.

How to evict your roommate from your apartment

Step 1: Determine the reason for evicting your roommate

Before you initiate a conversation about evicting a roommate, you need to establish legitimate reasons. Why does your roommate need to leave? Straightforward ones, like failing to pay their share of the rent or utilities, are easiest to navigate. Whatever the reason, make sure the issue rises to the level of warranting an eviction.

Step 2: Try asking them to leave

Once you’ve established a reason for the eviction, the next step is to have a conversation with your roommate about the matter. It may seem simple, but it’s the logical next step. If you’re this unhappy with the living arrangement, it’s time to be direct, even if you’ve already tried to resolve things before. If things still aren’t working, then it’s time to start the conversation about asking them to leave.

Step 3: Consider your rental situation

Double check your lease to clarify your status, noting whether you are co-tenants or whether you allowed your roommate to move in without the landlord’s permission. If the latter is the case, this situation becomes much more complicated. If the landlord finds out that you’re sharing the apartment with a roommate who isn’t on the lease, this could spell trouble for you.

Step 4: Involve the landlord

If asking your roommate to move out doesn’t work, it’s time to get management involved. Your landlord will have more sway if your roommate refuses to budge, particularly if terms of the lease have been violated. In cases of serious lease violations, your landlord can pursue an eviction, which may make resolving the situation easier for you.

Step 5: Issue a formal eviction notice

If your roommate is on the lease and refuses to leave, you’ll need to involve your landlord to initiate a formal eviction. Since they are a co-tenant, the landlord must have legal cause to proceed, such as a violation of the lease terms (e.g., unpaid rent or property damage). You can make your case to the landlord and provide any documentation, but ultimately, the landlord controls the eviction process.

However, if your roommate is not on the lease, you can issue a formal notice to vacate, similar to a tenant-landlord eviction notice. Most states treat roommates without a lease as month-to-month occupants, so you would typically give them 30 days to move out.

Key Steps for Either Scenario:

Document grounds for eviction: Whether it’s a lease violation for a co-tenant or a breach of a separate agreement for a non-lease roommate, gather evidence.
Check local laws: Eviction processes can vary, so review state and local guidelines or seek legal advice.
Serve notice if not on lease: For roommates without a lease, provide a formal notice detailing the move-out date and reasons for vacating. Include notice dates and give 30 days unless local laws require otherwise.
Request landlord action if on lease: Communicate with the landlord, as they have the legal standing to proceed with an eviction of a co-tenant.

If your roommate still refuses to move out and the landlord is involved, the process may go to court, so keep records of all conversations, documentation, and evidence of any violations.

A final note on evicting a roommate

It may be a stressful and painful process, but its important to know how to evict a roommate in case it becomes necessary. While it may increase the financial burden, you’ll finally have some peace of mind. You can always find another roommate, and hopefully they won’t come with the same red flags as the last one.

This content is for educational purposes only and does not constitute legal advice.

Source: rent.com

Apache is functioning normally

November 2, 2024 by Brett Tams

The information provided on this website does not, and is not intended to, act as legal, financial or credit advice. See Lexington Law’s editorial disclosure for more information.

Denied credit card applications can be frustrating. It’s a common experience, but understanding why it happens is the first step to improving your chances in the future. Whether it’s due to your credit score, income or other factors, there are steps you can take to address the issues and build a stronger financial profile.

We’ll break down the common reasons why credit card applications get denied, explore what you can do after a rejection and offer tips to increase your chances of approval next time.

Key takeaways:

Knowing why your credit card application got denied is key to fixing it.
Building good credit habits, such as paying bills on time and keeping low credit utilization, can significantly improve your chances of approval.
There are alternative credit-building options available, like secured credit cards or becoming an authorized user if you’ve been denied.

Why was your credit card application denied?

Several factors can influence a credit card issuer’s decision, from your credit score and history to your income and debt levels. Understanding these factors can help you take steps to improve your chances of approval in the future.

Your credit history isn’t ideal

Your credit history, a record of how you’ve managed credit in the past, is another key factor in credit card approvals. Creditors carefully examine this history to assess your financial responsibility, namely:

Age of credit history: The length of your credit history matters; a longer history often indicates a more established credit profile. However, consistent on-time payments can positively impact your chances, even with a shorter history
History of on-time payments: Your payment history is arguably the most important component of your credit history. Late or missed payments can significantly damage your credit score. Defaulting on accounts, such as credit cards or loans, is a severe negative mark.
Public records: Bankruptcies or collections can negatively affect your creditworthiness and make it harder to get approved for a credit card.

Your credit score is too low

Your credit score is a crucial factor in determining whether your credit card application is approved. Creditors view your score as a measure of your financial reliability. A higher score generally indicates a lower risk of defaulting on payments, making you a more attractive applicant. On the other hand, a low credit score might raise red flags for creditors.

The type of credit card you qualify for is often tied to your credit score. Here’s a general breakdown of credit score ranges and the corresponding card tiers:

Excellent (800-850)	Premium rewards cards
Very good (740-799)	General rewards cards
Good (670-739)	Student or secured cards
Fair (580-669)	Secured or starter cards
Poor (300-579)	Secured or specialized cards

Your debt-to-income ratio is too high

Your debt-to-income (DTI) ratio compares your monthly debt payments to your gross monthly income. It gives creditors a snapshot of your financial obligations and ability to manage new credit. A lower DTI generally indicates a healthier financial situation and increases your chances of approval for a credit card or loan.

A good DTI ratio varies depending on the lender, but a ratio below 36 percent is generally considered favorable for credit card approvals. This means that less than 36 percent of your monthly income goes towards debt payments. However, many creditors prefer a DTI below 30 percent. The lower your DTI, the better your chances of getting approved for a credit card with favorable terms.

Your credit utilization rate is too high

How much of your available credit you use can significantly impact your credit card application. Your credit utilization rate measures how much of your available credit you’re currently using. For example, if you have a credit limit of $1,000 and a balance of $300, your credit utilization rate is 30%. Creditors prefer to see low credit utilization rates as it suggests responsible credit management.

A good credit utilization rate is generally considered to be below 30%. Keeping your balances well below your limits can significantly improve your credit score.

You’ve made too many credit inquiries

Applying for too many credit cards, loans or lines of credit within a short time period can also impact your credit card application. Every time you apply for a new line of credit, the lender or creditor pulls a copy of your credit score and history. This is called a “hard inquiry.”

Hard inquiries can temporarily lower your credit score. While a single hard inquiry usually has a minimal impact, multiple inquiries within a short time can raise red flags for lenders, suggesting you may be experiencing financial difficulties.

To avoid a negative impact on your credit score, it’s recommended to limit the number of credit applications within a short period. If you’re shopping around for a credit card, consider applying for multiple cards within a few weeks. Pre-qualified offers can also help you explore options without affecting your credit score.

The card you chose has application restrictions

Application restrictions can be another reason for a denied credit card application. These restrictions are specific criteria set by credit card issuers to manage their risk and target specific customer segments. Some common application restrictions include:

Income requirements
Minimum age limits
Geographic eligibility

For instance, premium rewards cards often have high income requirements to ensure cardholders can afford the annual fee and maintain a high spending level. Additionally, some types of credit cards may only be available to residents of specific states or countries.

Other factors that could affect your approval

Beyond the factors already discussed, several other elements can influence your credit card approval, like:

Employment status
Income stability
The type of income you earn

While they don’t directly impact your credit score, these factors give lenders a broader financial picture. Your age can also indirectly affect your credit history length, which, as mentioned earlier, is an important factor.

You’ll also want to take a look at the specific credit card issuer’s underwriting guidelines. Some creditors may have stricter requirements for certain card types. Understanding the issuer’s criteria can help you choose the right card and increase your chances of approval.

If you apply for a credit card and get denied, does it affect your credit?

Getting denied for a credit card doesn’t directly impact your credit score. However, the application process itself does leave a footprint. When you apply for a credit card, a hard inquiry will appear on your credit report – this is true whether you are approved or denied.

While a single hard inquiry typically has a small, temporary effect, multiple inquiries within a short period can negatively impact your score. So, while the denial itself won’t hurt your credit, the application process might cause a slight short-term dip.

Why would you be denied a credit card with good credit?

Even with a good credit score, you can still be denied a credit card. While your credit score is a significant factor, it’s not the only one. Like we mentioned above, credit card issuers consider various aspects of your financial profile, including:

Income
Debt-to-income ratio
Credit history

If your income is relatively low compared to your existing debt or if you have a history of managing high credit balances, you might be denied even with a good credit score. Additionally, some premium cards have specific income or spending requirements that may not align with your financial situation.

What should you do after a denied credit card application?

A credit card denial can be frustrating, but it’s not the end of the road. Understanding why a lender rejected your application is the first step to improving your chances in the future. By taking proactive steps, you can identify the issues hindering your approval and develop a plan to address them.

1. Understand the reason you were denied

To figure out how to improve your chances of getting a credit card, you need to know why you were denied in the first place. The denial letter you receive might not explain everything. If you’re not sure why you were turned down, contact the credit card issuer and ask.

This information will help you pinpoint areas for improvement, such as increasing your credit score, reducing debt or addressing specific issues on your credit report.

Once you know the exact reasons for the denial, you can create a targeted plan to address those issues.

2. Check your credit report

Checking your credit report should be the next step after a credit card denial. This essential document provides a detailed overview of your credit history, including information on your payment history, credit utilization and public records.

Review your credit report to gain valuable insights into what may have contributed to your denied credit card application. While you’re at it, take note of any errors or inaccuracies that might be negatively impacting your credit score and file a dispute.

3. Create a game plan

Once you know why your credit card application was denied, you should figure out a plan to fix the problems. This means deciding which issues to tackle first. For example, if you owe a lot of money or are using most of your credit, pay down your debt and try not to open new accounts for a while.

By making a clear plan and sticking to it, you can improve your finances and get approved for a credit card later on.

4. Consider alternative cards

If you’ve been denied a credit card, exploring alternative options can be a smart move. There are various types of cards designed for different credit profiles.

For instance, a secured credit card might be a good starting point if you have fair or poor credit. These cards require a security deposit, but they can help build your credit history over time.

Additionally, some credit unions and community banks offer cards with more lenient approval criteria compared to major banks. By considering these options, you can increase your chances of finding a credit card that suits your needs while working on improving your credit score.

Can you be denied a secured credit card?

Yes, it’s possible to be denied a secured credit card. While they generally have less stringent approval requirements compared to traditional credit cards, creditors still assess applicants. Common reasons for denial include:

Insufficient funds for the required security deposit
Providing inaccurate or incomplete information on the application
A history of financial mismanagement that raises concerns about your ability to repay the card

Can you reapply for a credit card?

Yes, you can reapply for a credit card after being denied. However, you should consider the reasons for the initial denial before reapplying.

If your credit score was the primary issue, it’s wise to wait a few months to allow for potential improvements. Reapplying too soon could generate additional hard inquiries, negatively impacting your credit. Generally, you’ll want to wait at least six months before reapplying, but the optimal time frame depends on your individual circumstances.

4 tips for getting approved for a credit card

Building good credit takes time, but there are steps you can take to improve your chances of approval. While everyone’s financial situation is different, here are a few general tips for getting your next credit card application approved.

1. Improve your credit score

A good credit score is like a golden ticket for credit card approvals. Lenders use it to assess your financial reliability. Improving your credit score can significantly increase your chances of getting approved for a credit card.

By paying bills on time, keeping credit card balances low and limiting new credit applications, you can boost your score over time. A higher credit score often leads to better interest rates and more card options.

2. Increase your income

Earning more money can definitely improve your chances of getting a credit card. Credit card companies want to make sure you can pay your bills. A higher income shows them you’re more likely to be able to handle the payments.

This is especially important if you have a lot of debt. By increasing your income, you can lower your debt-to-income ratio, making you a more attractive applicant to lenders.

3. Decrease your debt

Keeping your credit card balances low is key to getting approved. Creditors look at how much you owe compared to your credit limit. Using a lot of your available credit can make you look like a bigger risk.

Paying off your loans can also improve your debt-to-income ratio without having to make more money.

4. Choose the right card

Picking the right credit card can make a big difference. Some cards are easier to get approved for than others.

If you have good credit, you might qualify for a card with great rewards. But if your credit isn’t so good, you might want to opt for a starter card or a secured card. By choosing a card that matches your financial situation, you’ll increase your chances of getting approved and making the most of your card.

Can becoming an authorized user help your credit?

Becoming an authorized user can potentially help increase your credit score. When you’re added as an authorized user to a credit card account with a positive payment history, your credit report may reflect this positive activity. This can help build your credit history and improve your credit score over time.

However, it’s important to note that the primary account holder is responsible for all charges made on the card, so trust is essential. Additionally, while it can be a helpful tool, it’s not a guaranteed path to building credit. You’ll still need to learn how to handle your finances responsibly to improve your credit.

Learn more about what’s keeping you from getting approved

Taking control of your financial health is the first step toward getting approved for a credit card. By understanding the factors that impact your creditworthiness, you can boost your chances of approval. Remember, building good credit takes time and consistency.

If you need additional support on your credit journey, consider exploring resources like Lexington Law Firm to better understand your credit rights and options. Take advantage of Lexington Law Firm’s free credit assessment today.

Note: The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, reviewers, contributors, contributing firms, or their respective agents or employers.

Source: lexingtonlaw.com

Apache is functioning normally

November 2, 2024 by Brett Tams

The Offer

Direct link to offer

Chase has a number of upgrade offers on different cards. None of the offers are particularly good. For example:
- Marriott 5,000 points
- IHG 20,000 points
- United 20,000 miles

Our Verdict

None of these offers are particularly exciting or worth doing in my opinion.

Source: doctorofcredit.com