Joshua Heckathorn

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Joshua Heckathorn

Joshua Heckathorn was President of Creditnet, is a credit expert and has been featured on CNNMoney, FOX Business, Yahoo Finance, The Street, and many other national publications during the past ten 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

What's the Difference between Secured and Unsecured Credit Cards?

If you have poor credit or no credit history at all, secured credit cards are still one of the best ways to get actually get your hands on some credit and start building positive payment history again. Chances are high you will get approved, and most reputable card issuers will even report your payments to all three of the major credit bureaus. If a credit issuer doesn't report your payment history to all 3 major credit bureaus, take a pass on the card. There are plenty of other good options that do, and a secured credit card really loses its value to you if payment history isn't reported. So, what's the key difference between secured and unsecured credit cards?

Capital One Discontinues Orchard Bank Credit Cards

If you haven't heard yet, Capital One announced that it closed on the purchase of HSBC's U.S. credit-card business earlier this month. Capital One paid a little over $31 billion in cash and received just over $28 billion in credit card receivables following the acquisition. It really was a win for HSBC as they desperately wanted out of the volatile credit card business in the U.S., and it also happened to be a perfect strategic fit for Capital One who continues to aggressively grow its domestic credit card portfolio. Part of the deal included HSBC's well-known Orchard Bank credit cards too, which have consistently ranked for years among the best credit cards for people with bad credit. If you have great credit scores, you've probably never even heard of this card. However, you would be hard-pressed to find anyone with bad credit who hasn't at least considered an application for an Orchard Bank credit card at some point in time.

Ask Creditnet: What No Pre-set Spending Limit Really Means

Amex Credit Cards Dear Creditnet: I get credit card offers in the mail all the time that say they have no pre-set spending limits. Does this mean that if I'm approved for one of these cards I can charge as much as I want? I run a small business out of my home and have had trouble getting a credit card with a high enough limit to cover my monthly expenses, so a card with no pre-set spending limit sounds like it could be the perfect fit. - Rebecca from NC

Citi Diamond Preferred Review - 18 Months 0% Interest

The Citi Diamond Preferred Card is all about the 0% interest promotion. Beyond that, there's really not much else for cardholders to get excited about, unless a little VIP treatment from time to time will float your boat. Let's be very clear here. If you're looking for a new credit card that's going to reward you for your monthly spend, this isn't the card for you. There are plenty of other rewards credit cards on the market that offer much better deals. But if you're simply looking for the longest 0% interest promotion available without having to pay an annual fee, you might want to take a closer look at what the Citi Diamond Preferred Card has to offer.

Ask Creditnet: Best Way to Get Cash When Traveling Overseas

foreign currency exchange

Dear Creditnet: I don't like carrying cash when traveling, but I'm about to take a trip overseas and I know I'll need plenty of cash while I'm there to cover expenses I won't be able to pay for with my credit card.

How can I get local currency at the best possible rate? Should I use a my credit card or debit card to withdrawal cash at an ATM, or should I plan on exchanging dollars for local currency when I get there?

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