John Ulzheimer
Credit Expert, Formerly Equifax and FICO
John Ulzheimer is a credit expert with over 20 years of experience in the credit industry, having worked for Equifax and FICO.
Credit & Personal Finance
Should You Ever Close a Credit Card You've Had for Years — or Is That the One Financial Decision That Looks Smart and Isn't?Closing an old credit card can seem like smart decluttering — but it may quietly hurt your credit score. Credit expert John Ulzheimer, financial educator Tiffany Aliche, and advisor Harry Nelson weigh the trade-offs between credit history length and real financial costs.
Credit & Personal Finance
Is Carrying a Balance to 'Build Credit' Actually Helping Your Score — or Is That Advice Costing You Money for No Reason?For decades, consumers have been told that carrying a credit card balance helps build a stronger credit score. But does this popular financial advice actually improve creditworthiness, or does it simply generate unnecessary interest charges? Credit experts agree that credit utilization and payment history play major roles in determining credit scores, yet they disagree on whether maintaining a balance provides any meaningful advantage. As rising interest rates make credit card debt increasingly expensive, understanding the difference between responsible credit use and costly misconceptions has become essential for anyone seeking to improve their financial health.