Credit Sesame, Author at Credit Sesame

7 ways to protect your credit from divorce

Credit Sesame — Thu, 20 Jun 2024 05:00:00 +0000

Credit Sesame discusses ways to protect your credit from divorce and accumulated joint debt.

Divorce is a complex process, and dealing with marital debt can add significant stress. Shared accounts and financial obligations can leave you worried about your credit score and future financial security. Here are seven approaches to help protect your credit. Remember, getting legal advice tailored to your specific situation is crucial.

Understanding marital debt and your credit

Joint vs. separate debts

Debts incurred during your marriage, regardless of whose name they’re under, are often considered joint debts. This includes mortgages, car loans, credit cards held jointly, and even personal loans taken out for household expenses. Debts incurred before the marriage or for one spouse’s sole benefit (for example, gambling debts) might be considered separate debts.

Impact of unpaid debt

If you are legally obligated to pay a portion of a joint debt and your ex-spouse defaults on their portion, it can negatively impact your credit score as well as theirs.

7 strategies to protect your credit

1. Consult an Attorney

An experienced divorce attorney can advise you on your rights and obligations under state law, represent you in court if necessary, and negotiate a fair settlement regarding debt division. Understanding your state’s approach to marital property division is essential. In community property states, all marital assets and debts are generally divided equally, regardless of who earned the money or incurred the debt. In equitable distribution states, the court divides assets and debts fairly, considering factors like income, earning capacity, and the length of the marriage. You can find more information on federal marriage and divorce laws, including links to resources on state-specific laws, on the U.S. Department of Justice website.

2. Consider closing joint accounts

This is a common approach. Ideally, with the help of a mediator, you can close joint accounts and transfer remaining balances to separate accounts in proportion to what the court might ultimately order. This prevents further debt accumulation on joint accounts.

3. Negotiate debt division

During mediation or attorney-led negotiations, a key issue is the fair division of debt. This might involve assigning specific debts to each spouse based on responsibility or income level, or selling jointly owned assets like a house to pay down debt.

4. Monitor your credit score

Be mindful of your credit score even after the divorce. The Fair Credit Reporting Act (FCRA) grants consumers the right to get free annual credit reports from each of the three major credit bureaus (Experian, Equifax and TransUnion) at AnnualCreditReport.com. You can learn more about the FCRA on the Federal Trade Commission (FTC) website. Alternatively you could sign up for a free credit monitoring service, which usually presents your credit information and credit score in a more user-friendly format.

5. Dispute errors on your credit report

If you notice any errors regarding debt allocation on your credit report after the divorce, be sure to dispute them with the credit bureaus following the guidelines outlined on the FTC website here [invalid URL removed].

6. Don’t take unilateral actions

While protecting yourself is important, resist taking unilateral actions like closing accounts without consulting your attorney. Legal recourse might be a more effective approach.

7. Bankruptcy as a last resort

Filing for bankruptcy should be a last resort due to its significant impact on your financial standing for years to come. Your attorney can advise you on the best course of action.

Protecting your credit during divorce is essential for your financial future. By understanding your rights, taking strategic steps, and seeking legal advice, you can minimize the negative impact of marital debt on your credit score.

If you found 7 ways to protect your credit from divorce useful, you may be interested in,

Disclaimer: The article and information provided here are for informational purposes only and are not intended as a substitute for professional advice.

The post 7 ways to protect your credit from divorce appeared first on Credit Sesame.

Does marriage affect your credit?

Credit Sesame — Thu, 06 Jun 2024 05:00:00 +0000

Credit Sesame discusses the effect of marriage on your credit score and how you can plan for the future.

Does your spouse-to-be have a good credit score? This may not be at the top of your must-know list before marriage, but understanding what marriage does to your credit report is crucial. While it won’t necessarily have you rethinking your walk down the aisle, it will make you wonder what happens after you’re both wearing rings. Wonder no more! This helpful guide on how marriage affects credit ratings separates fact from fiction.

What doesn’t happen to your credit score after marriage

There is no joint credit report: When you and your partner get married, your credit reports do not merge. Joint credit reports are not a thing. Each of you maintains separate credit files at each of the three major credit reporting bureaus: Experian, Equifax, and TransUnion.
A name change does not result in a new credit report: If one of you chooses to change your last name, you do not receive an all-new credit report. The married name is typically included in your existing credit report as an alias “also known by.” This keeps the credit history intact, simply adding the new name to the credit information.
Credit scores do not merge: Your credit score is unaffected by the marriage itself, as there is no such thing as a joint credit score. Your spouse’s credit score remains separate from yours.

How does marriage affect your credit score?

Marriage can affect your credit indirectly when you apply for lines of credit together. For example, if you apply for a home loan in both names, both credit histories are checked by the lender. This means that if one spouse has a poor credit history, it could lead to a loan rejection or a higher interest rate for a joint loan than if the person with a better credit score applied alone.

Additionally, joint applications for credit accounts make both spouses liable for the loan and its repayment, impacting both credit scores. If a joint account becomes delinquent or enters collection, the lender will attempt to collect the debt from both of you, regardless of who actually used the credit line.

Can spouse names appear on your credit report?

If you are married, your credit report (and your spouse’s) may include the following for both partners:

Accounts where one is the cosigner for the other’s line of credit.
Jointly opened accounts.
Existing accounts that one partner has been added to after marriage (e.g. adding a spouse as an authorized user to a credit card).

Factors that do not affect your credit score

Your credit score is influenced by payment history, debt utilization ratio, age of accounts, inquiries, and credit mix. However, many factors have no effect at all, including:

Marital status
Spouse’s credit score
Race
National origin
Religion
Political beliefs
Sexual orientation
Place of residence
Occupation
Employment status or length of employment
Salary
Assets
Age
Family and child support obligations
Inquiries not initiated by you
Employer inquiries
Interest rates on current or past credit products in your file
Participation in credit counseling

What if your spouse has bad credit?

Determining what to do when one spouse has bad credit can be tricky. Your partner’s bad credit might make getting credit more expensive or difficult when both your incomes and credit are needed, such as when buying a house. However, joint applications can help build the credit of the spouse with poor credit if managed responsibly.

Authorized users versus account holders

Authorized users: An authorized user can use an account but isn’t responsible for the debt. Authorized users are easier to remove from an account.
Account Holders: A joint account holder has equal responsibility for the debt. Adding a spouse with bad credit as an account holder on a healthy account can help their credit score if the account is managed well.

Broken engagement

If you obtain credit together and then call off the wedding, you are both legally obligated to honor the financial contract. Your relationship status has no bearing on your responsibility to honor a debt, and failing to do so can negatively impact your credit.

Helping your spouse build credit

If you’ve got great credit, you can help your spouse improve their credit by setting a good example and communicating openly about finances. Talk about bills, spending, budgeting, and debt regularly. Credit counseling as a couple can also be beneficial. You may wish to avoid cosigning for your spouse as this poses a significant risk with no benefit to you. Instead, consider adding them as an authorized user on one of your existing accounts to help build their credit.

Get married and be happy

When planning for marriage, it’s natural to focus on the excitement and joy of the upcoming wedding, but it’s also important to be mindful of practical considerations, such as credit scores. Credit management might not be the most romantic aspect of wedding preparations, but it is good to be aware as part of financial planning for the future. Understanding each other’s credit history and discussing financial goals can help build a strong foundation for your future together. By addressing credit scores early on, you can work together to improve your financial health, secure better loan terms, and avoid potential stress down the road. Ultimately, being proactive about your finances can contribute to a more stable and harmonious married life.

If you enjoyed Does marriage affect your credit? you may like,

Disclaimer: The article and information provided here are for informational purposes only and are not intended as a substitute for professional advice.

The post Does marriage affect your credit? appeared first on Credit Sesame.

Tips for understanding your credit score

Credit Sesame — Thu, 09 May 2024 05:00:00 +0000

Credit Sesame’s tips for understanding your credit score and credit report.

Understanding your credit scores is beneficial for your financial health. They’re so important that an entire industry exists just to monitor and report your credit score.

So, what does that three-digit number really mean? In a nutshell, it tells lenders how responsible you are with managing debt and your money in general. If you pay your bills on time and don’t carry a lot of debt, you’re considered a “good” credit risk. Generally, that makes it easier to get loans, credit cards, or a mortgage and snag the best interest rates while you’re at it. If you’re always running behind on your bills or you’ve got some big balances on your credit cards, your credit outlook won’t be as rosy.

There is some mythology about how credit scores work, so here’s our user-friendly guide to credit reporting and scoring.

How credit reports are created

The vast majority of credit reports and credit scores come from the big three credit bureaus: Experian, Equifax, or TransUnion. These three companies use information from your creditors (the companies you owe money to) to make up your credit report. Here’s what you can expect to see on your credit report:

Your personal details, including current and past addresses, your Social Security number and work history
A list of your credit accounts, including balances, payment history and recent activity
Public records linked to debts, such as bankruptcies, foreclosures or wage garnishments
The number of times you’ve applied for new credit over the past two years

Chances are, your credit reports with each credit bureau won’t be identical. Lenders can pick and choose which bureaus they report to, so you might see information on one of your reports that doesn’t show up on the other two.

Understanding your credit scores by the numbers

All the information on your credit report is what’s used to calculate your credit score. Actually, you have several credit scores. Usually, they are similar, and if they are very different, it may be because there are errors on your credit report. The most commonly used scores are VantageScore and FICOscore. The precise calculation varies, but there are five important factors used by both scoring methods:

1. Payment history (35 percent)

On-time payments mean a higher score. Late payments, delinquent or overlimit accounts, bankruptcies, and liens can cause major damage.

2. Credit utilization (30 percent)

This is also called “revolving utilization,” which is a fancy term for the amount of debt you owe versus your overall credit line. Ideally, the target utilization ratio you should be shooting for is less than 10 percent since a lower ratio generally translates to a higher score. If you’re close to, or at your limit on multiple cards, that’s going to drag your score down.

Figuring out your utilization ratio isn’t all that difficult. Start by getting a copy of your credit report and listing all of your credit card accounts, including the balance owed and each card’s credit line. Don’t include closed accounts. Next, add up all of your balances and credit lines. You should have two different numbers representing what you owe and how much credit you have available in total. The final step is dividing your total balance by your total credit line and multiplying the answer by 100 to get a percentage. Here’s an example so you can see how it works. Let’s say you have $1,500 in credit card debt but a total credit limit of $25,000. The math would look like this:

$1,500 ÷ $25,000 = 0.06
0.06 x 100 = 6%

As you can see, the credit utilization comes out to 6 percent, which is good for your score. You can also do this calculation individually for each card to see what your utilization ratio is with each of your creditors. Either way, this will give you a good idea of how lenders see you in terms of your risk level.

On a final note, don’t assume that your utilization ratio would be zero if you pay in full each month. The balance that shows up on your credit reports is the same as the balance from your most recent statement, which means even if you pay your bill in full each month, you’re likely to have a balance if you’ve used your card at all in the past 30 days.

3. Length of credit history (15 percent)

This shows how long you’ve been using credit and how you’ve managed your finances in the past. The longer your credit history the better, so hold off on closing accounts that are older even if you don’t use them.

4. New credit accounts and inquiries (10 percent)

This includes accounts you’ve opened recently and inquiries from companies you’ve applied to for credit. Credit inquiries linger on your credit report for two years but they’re only factored into your credit score for the first 12 months. If you’re going to apply for new credit, make sure you’re spreading the inquiries out over time to minimize their impact on your score.

5. Credit mix (10 percent)

Having credit cards can be a great way to build credit, but lenders also want to see that you can manage other types of debt, such as installment loans and mortgages.

Don’t turn a blind eye to your credit

Lenders, creditors, and credit bureaus keep an eye on your credit, and so should you. Experts recommend that you review your credit reports at all three bureaus at least once a year to check for inaccuracies. If you do find errors, don’t waste any time in disputing it to get it resolved. More frequent credit monitoring can be helpful, especially if you want to build your credit score before applying for a new credit card, mortgage, or other loan.

Your credit score is your responsibility. Turning good payment and credit usage behaviors into a regular habit can keep your score on solid ground.

If you enjoyed Tips for understanding your credit score you may like,

Disclaimer: The article and information provided here is for informational purposes only and is not intended as a substitute for professional advice.

The post Tips for understanding your credit score appeared first on Credit Sesame.

Credit for teens: what they need to know

Credit Sesame — Thu, 15 Feb 2024 05:00:00 +0000

Credit Sesame discusses credit for teens and how to start their financial education.

Kids can start their financial education at a young age. Starting to teach the basic principles of debt, money management, and credit before college is a good idea. Students should have a firm grasp of financial concepts before they pack their bags. If you plan to give your teen a credit card, make sure they know how to handle it.

We all need to know about good credit

In the United States, a great credit score is one of the ways to achieve certain financial goals. If you plan to make a major purchase, you could save up until you have enough cash set aside. It is possible to buy a home that way, most of us would prefer to get in 30 years earlier on borrowed money.

The difference between a great credit score and a poor or average credit score affects the interest you pay on debt. In turn, this affects the money that stays in your pocket. You might be able to buy a car with a credit score of 620, but your interest rate will be higher than the customer, whose score is 790. For those with poor or average credit, financing is more expensive. Low credit scorers pay more in monthly payments and overall cost for the privilege of using lenders’ money to buy what they need.

Credit for teens

Your child probably learned basic math skills in elementary school, like how to count change after making a purchase. Later, though, attention shifted to shapes and algebraic formulas. Typical American education includes little about our credit scores and credit histories, although those items are of critical importance to us all when we become adults. It’s mostly down to parents to help teens learn. A fundamental knowledge of credit can help your teen in several ways.

Understanding how credit cards work will help your child avoid over-using revolving debt.
Managing credit responsibly can open the door to better interest rates for big-ticket items when the time is right.
Knowing how to monitor their credit could help your teen avoid becoming the victim of fraud.

With a firm grasp on a few basic principles, your teen will be well on the way to responsible financial management, an outstanding credit score and great financing opportunities. The main topics you need to address are:

What is a credit score?
How does credit affect me?
How do I keep tabs on my credit?
How do I protect my credit?

Teaching your teen about money and credit

Explain that credit means debt. Debt means money that you owe until you pay it off.
Teach your child to save for smaller items like cell phones or iPods
Encourage your child to have savings strategies, like one-third of an allowance or half of all birthday gifts
Explain how to build a great credit score, like using a credit card sparingly and paying it off every month. Perhaps start with a secured card in the child’s name, using their own savings to secure the card.
Explain the right way to use a credit card is for convenience when you can afford the payments and the balance due won’t remain high
Reinforce the wrong reasons for using credit cards is to buy something you can’t afford.
Discuss the cost of interest at different rates and the pros and cons of paying an annual fee
Explain what credit monitoring is and why it is important
Ideally, don’t co-sign. Let your child build credit the old-fashioned way.
If she gets into a financial jam, don’t be tempted to immediately bail them out. Enroucage them to seek free or low-cost assistance from the National Foundation for Credit Counseling or the American Consumer Credit Counseling Service.

The more your child understands about credit, the more likely they are to become an adult who is able to maintain excellent financial health. The earlier you start teaching, the more your child can internalize the concepts, and the stronger the foundation of knowledge will be.

If you enjoyed Credit for teens: what they need to know you may like,

Disclaimer: The article and information provided here are for informational purposes only and are not intended as a substitute for professional advice.

The post Credit for teens: what they need to know appeared first on Credit Sesame.

The high cost of having a bad credit score

Credit Sesame — Thu, 08 Feb 2024 05:00:00 +0000

CreditSesame explains just how expensive a bad credit score can be over your lifetime.

What is considered a bad credit score and how much will a bad credit score will cost you over your lifetime? This question is hard to answer without knowing personal details, but the fact is a poor credit score will make your life more expensive in various ways. Higher interest rates, larger deposits, more expensive premiums, and the lack of access to quality financial services are all ways a poor credit score can cost you more. But, how much more?

No two people have the same desire or appetite for credit so it is impossible to say that poor credit costs a specific dollar amount. Someone who leans heavily on credit and is going to pay more overall than someone who chooses to pay cash for everything. However, if we compare apples to apples across similar loan products, it doesn’t take long to see just how expensive bad credit can become.

Mortgage Loans

If you have poor FICO or VantageScore credit scores, you are going to pay a higher interest rate than someone with a great credit score. If your scores are too low, you could be denied outright.

According to FICO, the average interest rate on a 30-year fixed-rate mortgage for a consumer with a FICO score of 760 or above is 6.478%. If you were to take out a $300,000 mortgage loan at 6.478% your monthly payment would be $1,892. If, you had a FICO score of 650, the same 30-year mortgage loan would cost you 7.521%. The difference does not appear huge.

However, at 7.521% percent, your monthly payment on that same $300,000 mortgage is $2,102. That’s $210 more each month. Each year, you’ll pay $2,520 more in interest. If you live in the house for five years, that means $12,600 more in interest.

Credit Cards

The average interest rates on credit cards is around 20 percent, depending on the card type and credit score. The cost of a poor credit score relative to credit card debt is much more pronounced than any other financial service.

Using the Experian Creadit Card Payoff Calculator, at 20 percent, someone carrying $5,000 in credit card debt and making the minimum payment will end up paying almost $8,000 to clear the debt and it will take five years.

Someone who has poor credit is going to pay a considerably higher interest rate on their credit cards. At 30 percent someone carrying $5,000 in credit card debt and making the minimum payment will end up paying nearly $9,000 over four years.

It doesn’t end with mortgages and credit cards. Auto loans, insurance premiums, and utility companies all use credit scoring in the calculation of your rates, premiums and deposit requirements. Poor credit scores make life more expensive.

Having a bad credit score makes it difficult to even obtain a credit card. Credit cards for bad credit scores are often secured credit cards.

5 credit situations and how to handle them

1. Carrying a high balance

In addition to costing you money in interest, credit card balances raise your debt utilization ratio (the amount of money you owe compared to your available balance), which can lower your credit score and increase your risk of bankruptcy. Avoid using your credit card when the balance is high and make payments more than once a month if you can to keep the balance as low as possible.

2. Cosigning on a loan

If you cosign for an apartment lease or car loan for a friend or relative who is having trouble getting approved and he or she defaults, then your credit could suffer, too. Do not cosign a loan unless YOU can afford to make the payments in the event the friend cannot pay. It goes without saying that you should only agree to this if you trust the person 110%.

3. Missing a payment

If you have a good credit score, then one or two missed payments may not seem like a big deal. But making payment 30 or more days late can reduce your score by up to 100 points. Automate payments where you can and set up reminders so you don’t forget to pay.

4. Having your identity stolen

If someone else applies for credit cards or loans in your name, that’s identity theft. Unfortunately, those accounts can show up on your credit report summary and lower your score. Checking your credit report regularly can alert you to a problem.

5. Getting fraudulent charges

You could fall victim to small, unauthorized charges for things like apps and online subscriptions that you didn’t even know about. Review each credit card statement carefully and dispute suspicious charges.

Your credit score made simple with Sesame Grade

You can see your credit picture at a glance with Sesame Ring. The unique user interface enables easy and intuitive review of TransUnion data. Credit report information from all three bureaus is available if you choose to upgrade to Premium. In addition to data and information, the app provides a measure of overall credit health with your Sesame Grade, and provides alerts, personalized action plans and AI-driven customer support. As you embark on your journey of credit and financial health improvement, knowledge is your most potent asset. Insights from all three bureaus can help you make sound financial choices, negotiate from a position of strength, and nurture your credit health. Regular reviews enable you to maintain accuracy, detect discrepancies and shape your financial future with confidence. Remember that credit is a tool that, when used wisely, can open doors to financial opportunities.

If you enjoyed The high cost of having a bad credit score you may like,

Disclaimer: The article and information provided here is for informational purposes only and is not intended as a substitute for professional advice.

The post The high cost of having a bad credit score appeared first on Credit Sesame.

5 credit myths debunked

Credit Sesame — Thu, 01 Feb 2024 05:00:00 +0000

Credit Sesame highlights five credit myths and explains the facts behind the myths.

Myths, fairy tales, and legends… some are harmless. They are stories to make us feel better, like Camelot and the Round Table, or as a way to reward children, like Easter bunnies and the tooth fairy. But some can be pretty scary (Hansel and Gretel, anyone?) and costly, especially in the real world. To live happily ever after when it comes to your credit, it pays to know the truth.

Myth #1: You only have one credit score.

Fact: You actually have three credit reports, one from each major bureau (Equifax, Experian, and TransUnion), and with each report comes a corresponding credit score. There are two scoring models used by credit bureaus, FICO and VantageScore. Each uses your credit history to generate a three-digit score ranging from 300 to 850. Slight differences in reported information and scoring models can create variations between your FICO, VantageScore, and even among your FICO scores from different bureaus. Don’t fret over minor variations, but significant discrepancies (50+ points) warrant investigation.

Regularly checking your reports and scores from all sources is helpful in identifying errors, potential fraud, and changes in your financial health. Take advantage of free annual credit reports and dispute any inaccuracies. By understanding your unique credit landscape, you can make informed financial decisions and navigate your credit journey with confidence.

Myth #2: Checking your credit report isn’t as important as keeping tabs on your credit score.

Fact: Just checking your credit score may not be enough. Think of it like using a broken scale – the number might be comforting, but it’s inaccurate. While credit scores are important, they reflect your credit report, which is the detailed history of your borrowing habits.

Imagine driving with a faulty dashboard light – sure, things seem okay, but a hidden issue could cause bigger problems later. Similarly, ignoring errors in your credit report can negatively impact your score and future financial opportunities. Checking your report annually, fixing errors, and then monitoring your score empowers you to take control of your credit health. Remember, healthy credit starts with a clean report.

Myth #3: You must carry a balance on your credit cards to have a good credit score.

Fact: No, you don’t. Carrying a balance on your credit card is a myth. Contrary to popular belief, good credit comes from using your card and paying in full each month. Carrying a balance actually hurts your score by increasing your credit utilization ratio, which factors heavily (30%) into your score.

Aim to keep your credit utilization ratio below 30% and ideally below 10%. This means using your card responsibly and paying it off completely to demonstrate you manage credit wisely. Good credit scores come from smart habits and not carrying debt.

Myth #4: Bad news can affect your score for seven years

Fact: It’s true that negative information like bankruptcy can linger on your credit report for 7-10 years. Chapter 13 bankruptcy disappears after seven years, while Chapter 7 takes ten years to fade. But don’t despair. The impact of these blemishes weakens over time, and your recent financial behavior plays a more significant role in determining your score.

Even a missed payment, while staying on your report for seven years, carries less weight further down the line. The magic is in focusing on positive actions:

Make all payments on time and in full, consistently. Recent on-time payments have a greater impact than past mistakes.
Bring down your credit utilization ratio. Aim for below 30% of your credit limit to show responsible credit management.
Consider disputing any errors in your report. Inaccurate information can unfairly lower your score.

By consistently demonstrating responsible credit habits, you can mitigate the effects of past missteps and watch your score gradually improve. Remember, the key is to focus on the present and build a positive credit history for a brighter financial future!

Myth #5: Shopping around for a loan hurts your score.

Fact: Applying for multiple loans might raise a red flag, but don’t let comparison shopping scare you. Inquiries for the same type of loan, like mortgages or auto loans, within a 14-day window count as one on your credit report. This “grace period” helps you compare rates without major score damage.

However, beware of credit card applications! Multiple credit card inquiries within a short time can individually impact your score. Space out your card applications or stick to pre-qualified offers to minimize inquiries and protect your score.

Remember, responsible comparison shopping helps you find the best loan terms while minimizing score impact. Just be mindful of credit card inquiries and utilize the 14-day grace period for other loan types.

If you enjoyed 5 credit myths debunked you may like,

Your credit score made simple with Sesame Grade

Disclaimer: The article and information provided here is for informational purposes only and is not intended as a substitute for professional advice.

The post 5 credit myths debunked appeared first on Credit Sesame.

Where to start? Credit cards for beginners

Credit Sesame — Thu, 18 Jan 2024 05:00:00 +0000

Credit Sesame with a few basic suggestions on where to start with credit cards for beginners.

If you are new to credit cards and perhaps building credit, you may benefit from a nudge in the right direction. Even consumers who are well-versed in credit need reminders from time to time. We’re here to help you begin or continue your own credit journey. This is a general outline of where to begin the credit journey with some general credit card tips, and how to make the process of maintaining credit a tad bit easier.

Understand credit products know your spending habits

With the sudden access to instant purchasing power that credit cards offer, it can be easy to rack up more debt than can be paid off in a timely manner. A credit card will only exacerbate spending problems for those who indulge in retail therapy.

Are you an overspender? Be honest with yourself. If you really don’t know your spending patterns, track your spending for a month or so. When and where do you spend it? Does money just sleep through your fingers? Or have you always got cash or funds in your bank account? Get to know your financial self, and learn where your money goes. Having a handle on how much you spend and where is the first critical step in any successful budget.

Once you have figured out your spending patterns, decide why you want a credit card. Credit cards offer the cashless convenience of debit cards but with greater protection from fraud. Used carefully they can be tools for building credit.

Look out for extra credit card fees

Be sure to watch out for extra costs associated with using the card, though. Some utility companies charge a fee for paying your bill with a credit card, and some gas stations charge a higher price to customers who don’t pay with cash.

On the other hand, some credit cards offer perks and benefits like cash back or rewards points. If you maintain the habit of paying off your balance every month, you can come out ahead by doing your everyday spending on the card.

Use your card’s technology features. Sign up for alerts for things like upcoming payment due dates, high balances, and suspicious transactions. Set up an automatic payment for at least the minimum due each month so that you won’t miss a due date and get hit with a late fee and/or penalty rate on the account.

Don’t opt-in to over-the-limit charges. If you need to do more spending than your limit allows, pay your bill multiple times during the month to free up credit.

Read the fine print

The fine print is dull but read it. You are entering into a financial contract when you obtain a credit card, and you need to fully understand the terms. Knowing the rates and fees could help you keep spending in check. Know the consequences of missing a payment.

Familiarize yourself with the card’s benefits and what you have to do to take full advantage of them. For example, many airline co-branded credit cards offer free checked luggage on that airline. But the benefit only applies if you purchase your ticket with that credit card.

The right card matters

There are many cards to choose from for consumers with high credit scores and low credit scores. Cards offered to people with lower credit scores tend to come with higher interest rates. A student or anyone with no credit history might like to apply for a credit card account designed for people with limited credit history.

If you are a person who tends to overspend, here are some secured credit card tips to get you educated on a controlled path toward managing your credit score:

A secured credit card is a credit card backed by a deposit and a credit limit that is smaller than or equal to that deposit. Basically, you need to put down the cash deposit to use on the card.

Typically, they have the same annual fees, application fees, and monthly charges that non-secured credit cards have.
The bank that offers you this credit card reports your payments to the three credit bureaus.
The deposit that you put down will typically be put into a savings account and will be returned if you close the card and have paid off all remaining charges
You should always check the terms and conditions and if anything is unclear or feels wrong or confusing the card provider must explain satisfactorily

If you’re interested in traditional credit cards, there are great options for earning rewards and points.

Pay your credit cards on time

Payment history is the single most influential factor in your credit score. Credit card companies want to see that you are reliable and consistent with your payments. Even one missed payment will hurt your credit.

Don’t max out your cards and make sure you keep your credit utilization low. This means you should not be using more than 10-30% of your credit. For example, if you have a $1,000 credit limit and spend $300, your credit utilization is 30%. Ideally do not go over this.

Know when the due date is

Keep track of when your credit cards are due and create automatic transfers from your checking account to your bills each month.

We are lucky that we now live in an age where there are apps for everything. You name it, there’s probably an app for it out there somewhere. So why not apply that to your finances?

Credit Sesame helps its users manage their credit and understand the factors influencing their score. Getting your free credit score is the first step.

If you enjoyed Where to start? Credit cards for beginners, you may like

Disclaimer: The article and information provided here is for informational purposes only and is not intended as a substitute for professional advice.

The post Where to start? Credit cards for beginners appeared first on Credit Sesame.

Different Kinds of Home Insurance

Credit Sesame — Wed, 18 Jan 2023 07:03:18 +0000

Home insurance is a way of making sure you have funds avaible to cover losses and damages to your residence or the assets within it. Home insurance involves paying a relatively small amount of money regularly with the insurance provider promising to pay if you make a valid claim.

Your home is probably the biggest purchase of your life. The median sales price of a house in the United States was $454,900 in the third quarter of 2022, giving homeowners plenty of reasons to protect what may be their largest investment outside of a retirement fund.

Home insurance is meant to provide financial security resulting from problems big and small at home. It is especially useful if a disaster happens against since you’re unlikely to have enough cash on hand to rebuild your home.

Understanding how home insurance works can make it easier to decide what type of insurance is right for you.

The fundamentals of home insurance

Homeowners insurance pays out if your home is damaged or destroyed in an event covered by the insurance policy. It also typically covers injuries to someone on your property or if you’ve caused property damage elsewhere.

What is home insurance?

Home insurance is a contract between you and an insurance company. You pay an annual premium in exchange for the insurer paying to repair or replace your home if it is damaged or destroyed by a covered peril.

After making a claim, you usually pay a deductible to cover your share of repairs. The insurer pays the rest, up to your coverage limits.

Why should you have home insurance?

Insurance is meant to cover loss or disaster, and losing your home to a fire or some other catastrophe is practically the definition of disaster. Without homeowners insurance, you would have to pay for repairs yourself. Your mortgage provider and property tax assessor still expect their payments, whether you are insured or not.

Homeowners insurance is not legally required. But if you have a mortgage, then your lender likely requires you to buy insurance to protect its investment. Even without a mortgage, home insurance is a good idea to protect you from liability and other problems.

Home insurance must not be confused with mortgage insurance, which reimburses your lender if you fail to make loan payments or default on the loan. Mortgage insurance is often required when buying a home if your down payment is less than 20% of the home loan.

The different types of home insurance

There are six categories of home insurance coverage those that offer different types of protection. Understanding the differences can help you decide what you need.

The type of home insurance you should buy is largely dependent on the type of home you live in and your preferences for coverage. You may want everything covered, or just the basics. Renters, homeowners with a lot of valuable possessions, and condo and trailer owners may each need and want different kinds of insurance.

Dwelling coverage

Dwelling coverage is typically for an amount of money to rebuild your home. It covers the structure of your home, along with the walls, floors, windows and roof. Built-in appliances such as furnaces are covered, as are attached property to your home like a porch, garage or deck.

Covered claims include for damage caused by fire, lightning, wind, freezing, and hail. A flood, earthquake and routine wear and tear are not typically covered.

Other structures coverage

Some standard policies include other structures in their dwelling coverage. If not, then you may want to buy coverage for other structures such as a shed, fence, gazebo or garage that are not attached to the house.

Most policies cover events that are not specifically excluded. Like dwelling coverage, you are likely to be covered in case of a fire or snow damage. The amount most people need is typically 10% of dwelling coverage.

Personal belongings coverage

Also called personal property coverage, this coverage is for furniture, clothes, electronic devices, sports equipment and other personal items that are stolen or destroyed by fire, hurricane or other insured event. Most policies insure the items wherever they are, such as if your laptop computer is stolen overseas.

Coverage is typically for 50% to 70% of the amount of dwelling insurance.

Expensive items like jewelry and furs are covered, but usually up to a set dollar amount.

Liability protection coverage

Liability covers against lawsuits for bodily injury or property damage that policyholders, family members or pets cause to other people either unintentionally or through neglect. The cost of defending the policy holder in court and any court awards are covered by the liability portion of a policy, up to the policy limits.

A typical amount of coverage is $100,000 to $500,000.

Additional living expenses coverage

Also called loss of use, this part of a homeowners policy helps if your home is uninhabitable after a fire, storm or other insured disaster. It covers hotel bills, restaurant meals and other living expenses while your home is being rebuilt.

The coverage amount for additional living expenses is usually 20% of dwelling coverage.

Medical payments coverage

Typically, medical payments coverage pays if you cause physical injury to someone outside your home. Unlike liability coverage, no lawsuit is involved and you do not have to be at fault for medical coverage to pay out.

Overall, the details of coverage may vary so it is important to read the terms of each policy, which may be unique to you.

Matching policies to your needs

The coverage types listed above are offered in several types of insurance policies called “policy forms.” Some policies offer more coverage than others. They may have different names at different insurance companies, but typically the policy forms are known as HO-1 to HO-8.

Most common: HO-3

An HO-3 is the most common policy offered. It is “open peril” for the structure of your home that will pay for repairs caused by any peril that is not specifically excluded. Earthquakes and floods are often excluded.

Personal property, however, is a “named peril.” This means that belongings are only covered if they’re damaged by perils specifically listed in the policy. If the peril is not listed then your belongings are not covered.

HO-3 policies are often required by lenders. Owners of multifamily homes may want this coverage to cover risks of having renters live in their houses.

Limited coverage: HO-1 and HO-2

HO-1 typically covers 10 perils, as opposed to 16 in an HO-3. Coverage is limited and many insurers no longer offer this type of policy form.

HO-2 also provides limited coverage, but it may cover a broader range than HO-1.

Renters: H0-4

This policy is specifically for renters and covers 16 perils and personal liability coverage. Personal belongings are insured, but the building’s structure is not.

Extensive coverage: HO-5

An HO-5 policy offers the broadest coverage. Your home and belongings are covered for all causes except those excluded in the policy. Homes must typically be well maintained and in low-risk areas. These policies are sometimes called “comprehensive form” or “premier” coverage.

Condo and co-op owners: HO-6

An HO-6 policy is designed for owners of condominium and cooperative units. Personal belongings and structural parts of the building that the policyholder owns are covered, such as the interior walls of an owner’s unit. It protects against 16 perils, and provides personal liability coverage and covers additional living expenses.

Mobile homes: HO-7

Owners of mobile or manufactured homes, trailers, sectional homes, RVs and modular homes may want an HO-7 policy. It covers the home’s structure, personal belongings, liability, additional living expenses and medical payments.

Personal belongings are covered under a named perils policy. The specific circumstance causing the damage must be named in the policy, such as fires, theft, smoke and vandalism.

Older homes: HO-8

Older homes under an HO-8 policy are covered for up to 10 perils. Reimbursement for any covered damage is paid on an actual cash value basis instead of the replacement cost. Depreciation costs are usually subtracted. Historic homes and registered landmarks usually have this type of policy.

What is not covered by home insurance?

Damages from flooding and earthquakes typically are not covered by home insurance. You can buy add-ons for such coverage.

Here are some other incidents that are usually excluded from coverage:

Intentional damage
Water damage from drain and sewer backups
Landslides and sinkholes
Mold, fungus and infestations by birds and vermin
Wear and tear or neglect
Nuclear hazard
War or other government action
Power failure

Can I get extra protection?

Yes, you can usually buy extra insurance through what are called endorsements if your policy does not cover something or if it does not provide a high amount of coverage that you may need.

Flood and earthquake insurance typically are add-ons, as is extra coverage for water backups and service line protection to water and other utility lines that you’re responsible for leading up to your home.

What are the 16 perils?

Policies such as the popular HO-3 policy offers the broadest coverage against 16 disasters or perils. They are:

Fire or lightning
Windstorm or hail
Explosion
Riot or civil commotion
Damage caused by aircraft
Damage caused by vehicles
Smoke
Vandalism or malicious mischief
Theft
Volcanic eruption
Falling object
Weight of ice, snow or sleet
Overflow of water from plumbing, heating, air conditioning, automatic fire sprinkler system, or household appliance.
Sudden and accidental tearing apart, cracking, burning, or bulging of a steam or hot water system, or air conditioning or auto fire-protective system.
Freezing of plumbing, heating, air conditioning, fire-protective system, or household appliance.
Artificially generated electrical current

Our insight

Home insurance can sound complicated, but it does not have to be. Most homeowners want to cover the full cost of replacing their home if it’s totally destroyed by a disaster such as a fire.

After that you may also want to insure your belongings so they can be replaced, and have liability insurance in case someone is hurt on your property. Coverage for additional living expenses can be handy if you have to live at a hotel while your home is being repaired.

While home insurance is not required by law, your lender (if applicable) will probably require it. Insurance can make it easier to sleep at night knowing you do not have to pay out of your pocket to replace your home if something major happens to it.

Last word

If you’re thinking of buying a home, be sure to shop around for home insurance policies that fit your needs. Your auto insurance company may be able to a discount for having multiple policies, and you may qualify for discounts if your home has storm windows, fire sprinklers and other safety features.

Home insurance can give you peace of mind and help protect your financial future by protecting what’s likely to be one of the biggest purchases of your life — your home.

The post Different Kinds of Home Insurance appeared first on Credit Sesame.

App Gift Ideas for this Holiday Season

Credit Sesame — Wed, 30 Nov 2022 01:00:00 +0000

App gift ideas brought to you by Credit Sesame.

Apps as gifts this holiday season? Why not? Apps have a quite few advantages over more traditional gifts.

Apps don’t need room and you don’t have to mail them. Even students in dorms, retirees in RVs and minimalists in tiny homes can enjoy a new app.
Apps can be general-purpose or extremely specific. They can accommodate someone you’ve recently met or demonstrate how well you know your quirkiest loved one.
Apps come at many price points, including zero, making them great stocking stuffers.

This holiday gift guide details app gift ideas to consider adding to your seasonal shopping for 2022.

Credit Sesame

Credit Sesame’s mobile app combines credit monitoring, credit building and zero-fee banking. The app shares no personal data with third parties and is encrypted for safety. With the app, users can check their credit score, monitor credit usage, bank online for free, get access to their paychecks sooner and and boost their credit scores with Sesame Cash. Credit Sesame’s basic account is free and includes all of the above; its premium offerings run $9.95 to $19.95 per month. The app has earned 4.7 stars on Google Play and 4.8 stars on Apple.

Spendee

Spendee is a financial dashboard users keep on their phones. Banking and crypto wallet transactions are automatically imported into Spendee, providing an instant overview of cash flow month by month. Users can set specific budgets for different categories and get alerts if they approach their limits. They can also get a daily allowance to stay on budget. In addition to the free app, there are two premium versions that cost $1.99 and $2.99 per month. Spendee has a 4.6-star rating on Apple and 3.8 stars on Google Play.

EveryDollar

EveryDollar is a basic budgeting app from Dave Ramsey. Users enter their monthly income and get a customizable template for monthly budgeting. With the free version, consumers manually enter their spending and the app makes sure that they stay on budget. The premium version synchs the budget to bank accounts and credit cards, eliminating manual effort. It costs $79.99 per year or $12.99 per month. EveryDollar has 4.7 stars on Apple and 3.5 on Google Play.

Canva

Canva is a graphic design app that requires no knowledge of design. Using easy drag-and-drop features on any device, create professional-looking images for social media, corporate communication, marketing, promotion and art. Canva includes many templates, a large image library and free workshops. There is a free option, which allows users to create two folders and host 5GB of data. The other two tiers are Canva Pro ($12.99 per month or $119.99 per year), and Canva for Teams ($14.99 per month or $149.90 per year for the first five people). Canva has 3.4 stars on Apple and 4.8 on Google Play.

Instasize

Instasize is a photo resizer and editor for videos and photography, especially geared to the needs of social posters. Users can resize and crop photos or videos to fit perfectly on any social platform including Instagram, Snapchat, Pinterest or Twitter. In addition to effortless resizing, Instasize supports hundreds of filters, advanced editing tools and special effects. Instasize’s premium subscriptions start at $4.99 per month. The app has a 4.6-star rating on Apple and a 4.4-star rating on Google Play.

Headspace

Headspace is a guided meditation app designed to help users relieve health issues like anxiety, depression and high blood pressure. The app, founded by a former Buddhist monk, gets high marks for ease of use and results. Multiple studies found improvements in customer well-being, distress, and job strain. The free download grants access to the first level of the basic course, two fitness workouts, several sleep meditations and one sleep cast. Premium membership costs $12.99 per month or $69.99 per year. Headspace has received 4.8 stars from Apple and 4.4 stars from Google Play reviews.

Rosetta Stone

Rosetta Stone is a PC Magazine Editor’s Choice and, says the magazine, is “the best premium software for building a foundation in a foreign language. It’s excellent for beginners, and it has a ton of additional content for more advanced learners, too.” There is no free edition, although there are free trials. Pricing is $11.99 per month for three months, $7.99 per month for 12 months, or a single $149 payment for a lifetime subscription that includes all 25 languages. Rosetta Stone makes an impressive gift for travelers and lifelong learners and has earned 4.8 stars on Apple and 4.7 on Google Play.

Sling TV

US News and World Report awarded Sling TV kudos for being the most budget-friendly television for cord-cutters. Its app lets users watch live TV, local programming, popular shows and movies on portable devices. And it has a legitimate free version (not a trial offer). Sling TV also has a menu of premium packages and add-ons to customize the viewing experience. Both the Blue (news and entertainment) and Orange (sports) packages cost $35 per month or get both for $50. The Sling TV app has a 4.6-star rating on Apple and 3.8 stars on Google Play.

Audible

Audible is Amazon’s app and store devoted exclusively to audiobooks and podcasts. Its basic service and app are free, and there are hundreds of titles one can listen to without a membership. Book pricing varies by title. Audible also offers two subscription plans: Audible Plus ($8/month) and Audible Premium Plus ($15/month). Audible Plus members get access to thousands of audiobooks and podcasts for a monthly fee, while Audible Premium Plus also adds store credits and discounts on paid titles. Audible’s app gets 4.9 stars from Apple users and 4.6 stars on Google Play.

Kindle

Kindle is Amazon’s e-reader/tablet, but e-readers aren’t needed to enjoy Kindle titles. One can simply download the app to gain access to the Kindle store and turn any phone or tablet into an e-reader. Choose the text size, font, margins, alignment, and orientation (portrait or landscape). Change from day to night reading by adjusting the brightness and background colors. The Kindle app also supports audiobooks from Audible. Kindle has a 4.9-star rating on Apple and a 4.6-star rating on Google Play.

Instacart

Instacart is a shopping app that lets you order groceries and household items for home delivery. Users choose from a selection of local stores and place their order. Personal shoppers pick up the items and deliver at a prearranged time. The typical delivery fee is $3.99 but it can vary by area. In addition, store partners add a “service fee” for delivery orders. Heavy users can choose a premium membership that costs $99 per year or $9.99 a month and get free delivery on any order over $35. Instacart’s app has earned 4.8 stars on Apple and 4.3 on Google Play.

Disney+

Disney + is a subscription streaming service offering popular content like Pixar, Star Wars and Marvel movies and shows. And its Disney + app gets high marks from reviewers like Tom’s Guide for its ease of use and sensible displays. While the app is free, the content is not. Monthly rates start at $7.99 for an ad-supported version and $10.99 for a premium offering. Free trials for the service are rare but there are ways to snag free services, like being a Verizon or Hulu live TV customer. The Disney + app has earned 4.5 stars on both the Apple and Google Play stores.

5 Minute journal

Five Minute Journal is a simple app to improve your life in just five minutes, twice a day. Based on the original 5 Minute Journal (book), users can track how their days are going and look to notice patterns impacting their life. Journaling has been proven to improve mindfulness, health and communication skills, which may be the best gifts your loved ones receive this year. The app has both a free and premium version, which costs $9.99 per month, $39.99 per year or $99.99 for a lifetime. The app has earned 4.8 stars on the Apple store and 4.7 stores on Google Play.

How to give an app as a gift

If you have an Apple device, the Apple store makes it easy to give an app as a gift — simply tap the “gift” button when you find the app you want. However, it’s not a simple process if you don’t have an Apple device yourself. In that case, you’ll probably have to send an Apple gift card. The Google Play Store doesn’t have a way to gift a specific app; you’ll have to give a Google Play gift card so your recipient can install and pay for a gift. What about ongoing subscriptions? Your best bet is to purchase the subscription directly from the service and send an e-card with a link to the app download.

If you found our app gift ideas inspirational, you may also enjoy:

The post App Gift Ideas for this Holiday Season appeared first on Credit Sesame.

Tech Gift Ideas for this Holiday Season

Credit Sesame — Sat, 26 Nov 2022 01:00:00 +0000

Tech gift ideas brought to you by Credit Sesame.

Tech novelties can be practical and fun gifts. They meet many gift-giving challenges — people who “have everything,” tech-hungry Gen Z-ers, holiday parties that require gifts for people you don’t know and loved ones living in small spaces. At least one of the tech gifts on this list will be much appreciated by a hard-to-buy-for recipient and help you cross a problem off your list.

Sleep mask and headphones

Headphones can help us drift off to sleep or make air travel bearable. But they can hurt your ears after a while, and they’re especially painful for side sleepers. MUSICOZY sleep eye mask with Bluetooth headphones is a thoughtful solution everyone can appreciate. They have 4.3 stars on Amazon based on nearly 17,000 reviews. Their list price is $39.99 on Amazon.

Reusable notebook

Studies have shown that writing by hand activates a different part of your brain than typing and can help you with creative problem-solving and note-taking. And tapping out a list on your phone, laptop or tablet is clunky when you’re on the go. The Rocketbook reusable notebook solves the problem in an elegant and sustainable way. You get 36 pages for jotting notes and lists. When you’re finished writing, Rocketbook’s app sends your handwritten notes to cloud storage and you can simply wipe your notebook clean for reuse. The notebook boasts a 4.5-star rating based on nearly 70,000 Amazon reviews and sells for $19.97.

Hand-crafted charging pad

Tech doesn’t have to look cold or clinical. This charging pad from the Reveal Nature Tech Collection has lovely wood grains and a warm look. It’s wireless and you only have to set your phone onto the pad to charge it. The pad is easy to set up and compatible with the iPhone 8, 8 Plus, X, XR, XS, XS Max, 11, 11 Pro, 11 Pro Max, 12, 12 Mini, 12 Pro, 12 Pro Max, 13, 13 Mini, 13 Pro and 13 Pro Max. Android phones include Samsung Galaxy S6 S7 S8 S9 S10 versions and many other brands. The charging pad has garnered 4.1 stars based on 250 Amazon reviews and sells for $29.99.

Tripod stand for phone

Photographers and TikTokers on your list will appreciate the versatile Ubeesize phone tripod stand. It’s a selfie-stick; it’s a tri-pod; it’s a wireless remote for your mobile device. Extendable from 17″ to 62″ and including head and neck rotation for the most versatile shooting options, this accessory will enhance anyone’s selfies, group pictures, adventure photos, podcasts and livestreaming. It’s made from heavy-duty aluminum and holds up to 2.2 pounds (one kg). The tripod lists for $25.99 and has a 4.6-star rating based on over 81,000 Amazon ratings.

JBL “Clip 3” speaker

Looking for an ultra-portable sound powerhouse on a budget? JBL’s uber-popular lightweight, Clip 3 waterproof speaker provides up to ten hours of high-quality sound from your smartphone or tablet. You can even take crystal-clear calls from your speaker with the touch of a button. The Clip 3 features a built-in rechargeable Li-ion battery and a metal carabiner so you can easily hook it to your clothes, backpack or purse. This cute, round speaker has a built-in microphone with noise-canceling technology and comes in 12 colors. It has achieved an impressive 4.8-star rating on Amazon and costs $44.95.

Emergency portable iPhone charger

Here’s a practical gift for iPhone owners. Dead battery emergencies happen to everyone and can be irritating or even dangerous. But iWALK’s mini portable iPhone charger with built-in cable will get your loved ones out of a jam again and again. It comes in several colors and has a built-in lightning connector — no cable required. This ultra-compact charger weighs only as much as an egg and can add nearly 1.2 charges to an iPhone 8 and about .95 charge to an iPhone X. It has a 4.3-star rating based on about 16,000 reviews and sells for $19.49 on Amazon.

Tile Mate Bluetooth item tracker

The holiday season can be a frantic time and it can be hard to keep track of essentials. Busy people in your life will really appreciate Tile Mate’s Bluetooth item locator for essentials like keys, bags, wallets or glasses. Lose something? The Tile Mate app can cause its tile to ring when within its 250-foot range. And when your object’s out of range — maybe you left your wallet at the store — you can track it with the app and see its location on a map. This latest version of Tile Mate contains two tiles and lists for $64.99. It has garnered a 4.3-star rating based on about 2,800 reviews on Amazon.

Apple Watch portable emergency charger

Extend the battery life and avoid emergencies with this tiny, ultra-portable lifesaver. NEWDERY’s portable charger is compatible with the Apple Watch Ultra Series and provides a full charge in two to three hours. The Apple watch magnetic charger comes with a USB-A charging port so you can connect to your computer, socket, or power bank and start charging anywhere. Just stick it on your keychain — clumsy cables not needed. This tiny charger has a tiny price at $7.99 to $9.99, so you can afford to stick one in everyone’s stocking. It has a 4.4-star Amazon rating based on about 20,000 reviews.

Wifi pet and security camera

Many of us adopted pets during the pandemic and enjoyed our new friends as we worked from home. But now we may be recalled to the office, leaving our fuzzy friends behind. Not to worry — Petcube’s indoor wi-fi pet and security camera comes with a phone app and a pet monitor with two-way audio and video and night vision. Its 1080p video and smart alerts provide home security in addition to communication with four-legged loved ones. The system has earned 4.2 stars from over 15,000 reviews on Amazon and it currently sells for $34.94.

Smartphone photo printer

Cameras on smartphones have become so good and so convenient that many of us take all of our pictures with them. And that’s great for sharing on social media, but less great when you want to give someone an actual photograph. Cannon’s IVY mini photo printer for smartphones is small and light and delivers 2 x 3-inch photos with a peel-and-stick backing. Excellent for classrooms, bulletin boards, scrapbooks and parties, the Bluetooth printer boasts a stellar 4.7-star rating on Amazon based on nearly 10,000 reviews. It costs $79 (45% savings) as of this writing.

Smart home plugs

Make any home appliance obey your every command with Kasa smart plugs. This set comes with four plugs that work with your voice via Amazon Alexa or Google Assistant to control electric appliances. The plugs put you in control from anywhere using the Kasa app — from home, the office or even your vacation destination. You can set your wifi smart plug to automatically activate lamps, fans, humidifiers, Christmas lights, etc. at desired times and intervals. The set lists for $22.76 on Amazon and has earned a 4.6-star rating based on nearly 45,000 reviews.

Mini projector

Experts agree that hunching over a phone or tablet to view videos isn’t healthy and scientists have proven that blue light from screens is harmful to our DNA. Why not improve your children’s viewing experience and protect their health with a projector? PVO’s mini projector for camping, outdoor parties and kids’ gatherings is easy on the eyes and provides up a 170-inch display. The small projector features multiple ports including HDMI, USB, audio and other interfaces. It’s earned a 4.1-star rating on Amazon based on over 6,000 reviews and sells for $79.99 (20% off as of this writing).

Alarm clock with wireless charging

This versatile clock has a lot of fans because of its style and practicality. MOSITO’s digital wooden alarm clock is small and takes up little room but its display is large. Those who prefer to sleep in darkness can dim the display all the way down, while sleepers who prefer a night light can turn it up. And there’s more — the clock includes a wireless charger for your phone and also displays the temperature. Reviewers rave about this little clock’s wood-grain finish as well as its practicality, features and ease of use. The clock has earned 4.3 stars on Amazon and currently sells for $32.98.

USB multiplug wall charger

Whether traveling, renting or just living in an older home, many of us wish we had more outlets in more useful places. And now we can, thanks to this USB 5-outlet charger and surge protector from Addtam. It fits any duplex outlet and provides five outlets and four USB ports including one USB-C. Wide spacing for outlets makes it easy to plug in a variety of devices, and the surge protector offers overload protection, short-circuit protection, over-current protection, over-voltage protection and overheating protection. The charger lists for $22.99 and has an amazing 4.8-star Amazon rating based on over 8,500 reviews.

Fujifilm instax holiday bundle

Get everyone in on the holiday fun with Fujifilm’s holiday instax bundle. This gift includes one instax Mini 11 Instant Camera, a 10-pack of instax Mini, white bordered, instant print film, an Arc photo stand, message photo magnets and an instax idea book. Pass around this fun little party camera and then pass out the pictures. The tiny camera comes in blue or lilac, operates with two AA batteries and delivers brilliant selfies and close-ups. It’s earned a 4.2-star rating based on ten Amazon reviews. The blue set costs $69.95 and the lilac is $79.95.

This list of tech gifts should yield at least a couple of original gift ideas for difficult situations — and possibly a gift or two for hard-working Santas.

If you found our tech gift ideas inspirational, you may also enjoy:

The post Tech Gift Ideas for this Holiday Season appeared first on Credit Sesame.