Joshua Heckathorn

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Joshua Heckathorn

Joshua Heckathorn is a credit expert and has been featured on CNNMoney, FOX Business, Yahoo Finance, The Street, and many other national publications during the past twenty years.  He received a Bachelor of Science in Management (Finance) from Brigham Young University's Marriott School of Business and earned his MBA from Seattle University.

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Recent Blogs

Fed Says Fewer Americans Carry Credit Card Balances

The Fed's most recent Survey of Consumer Finances was released earlier this week, and in spite of all the negative reports concerning shrinking incomes and net worth, it actually contained some tidbits of positive news regarding credit card debt. They're hard to find among all the other depressing information, but hey, I'll take what little good news we get these days!

Chase Freedom Visa Review: $100 Cash Back Promo

Personally, I tend to stick with cards that offer an unlimited amount of rewards at a fixed amount per dollar spent. It's easier to keep track of and I hate worrying about "signing up" for cash back promotions each quarter. That said, Chase's $100 cash back sign-up bonus after spending just $500 during the first 3 months makes the Chase Freedom Visa Card more appealing than it has been at times in the past.  If you're searching for a new cash back credit card and you prefer a card with no annual fee, here's 6 reasons why you may want to consider this latest offer from Chase:

Ask Creditnet: Will a Loan Modification Hurt My Credit Scores?

Dear Creditnet: I'm thinking about applying for a loan modification so I can hopefully continue to afford the mortgage payments on my home, but I've heard it will really hurt my credit scores. Is that true? If so, what kind of hit can I expect my scores to take? -Wendy in CA

Auto Sales Up on Easier Credit

auto sales

Auto sales were up nearly 30 percent in May over the same month last last year. Meanwhile, the stock market saw its worst month in two years, consumer confidence weakened, and unemployment rates were still pitiful.

Yet, in spite of all the negative news, for some reason Americans ran out and snatched up 1.3 million cars and trucks. Why?

The Risks of Piggybacking

If you didn't already get the memo, piggybacking still works! I know I've written about this topic before, but this is just one of those posts that needs to be resurrected every now and then. In fact, for those that have no credit at all, piggybacking remains one of the fastest ways to add positive credit history to credit reports and give your FICO scores an immediate boost.  I recommend it quite often to parents and spouses who are interested in helping a child or significant other build credit from scratch, even though the practice continues to receive a lot of bad press. But while I consider piggybacking to be a rather safe credit-building technique, it's also important to understand that it's not risk free.  Especially if you're the one seeking to build credit, there's one big risk to consider before you're added as an authorized user on anyone's account. What if the account holder responsible for the card eventually racks up a bunch of credit card debt and stops paying?  How would that affect you?