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

Tax Form 1099-C: IRS Implications of Charged-Off Credit Cards

If you’re anything like me, your stomach drops when you receive any form of communication from the IRS. That’s because if they’re sending you something in the mail, it's most often because you owe some clams to Uncle Sam. Inevitably, the government finds ways in which to squeeze revenues from as many angles as possible, especially with today’s trimmed public budgets and high government debt. In fact, credit card holders have often been the recipients of such attempts at increasing the public coffers.

How to Choose The Best No Annual Fee Credit Card

Choosing the right credit card is often all about keeping life simple, and for many consumers this means picking a credit card with no annual fee.  So what exactly should you be looking for when comparing all the no annual fee credit cards out there? There are certainly a lot of different cards to choose from. The first thing you should look for are credit cards with no annual fee that also offer some type of rewards program. What's there to dislike about no annual fee credit cards that offer rewards too? You get to use the credit card for free, and in return you'll receive miles, points, or cash back for every dollar you would have spent anyway. As long as you use the card responsibly, you really can't go wrong! It's an amazing perk for those with good credit.

Why Prepaid Cards Won't Rebuild Credit

The first thing we should clear up in this discussion is the fact that there's no such thing as a "prepaid credit card".  It simply doesn't exist.   If anyone references a prepaid credit card in a conversation with you, what they actually mean is a "prepaid debit card". The terms unfortunately get mixed up all the time, even though "debit" and "credit" mean very different things, but the fact is all of these cards are debit cards.  So now that we've got that confusing point cleared up, let's move onto how these prepaid debit cards work and how they affect your credit scores. Prepaid debit cards are actually quite simple financial products.  They basically work just like a debit card that's linked to your personal checking account, only there's no checking account to worry about.

Ask Creditnet: What Credit Limit Will I Receive?

Dear Creditnet: I have good credit scores and plan to apply for a new cash back credit card sometime this month. I've already chosen the card I want, but how can I get a feel for what kind of credit limit I'll receive? I'm worried about canceling my old card if my new credit limit won't be high enough to support my regular spending habits. So is there any way to find out what credit limit I'll get beforehand, or is it always a shot in the dark?

What's a Bad Credit Score?

A few weeks ago I wrote about what "fair credit" means in the credit-scoring world, so I thought it would be a good idea to follow up on that post with a brief explanation of what "bad credit" means as well. After all, there's often a very fine line these days which separates the two categories. If you have bad credit, you're probably aware of the fact that your credit isn't stellar. But just how bad is it? Is it bad, poor, fair, or just below average? Well, to answer these questions you first need to take a close look at your real FICO scores.  I'm not talking about all the so-called "free" credit scores you can get your hands on by signing up for some random credit monitoring product or paying a few extra bucks to the credit bureaus after pulling your free credit reports.  Those scores are practically worthless and should only be used if you can get the scores for free too.

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