When major media outlets need the perspective of a personal finance expert, they call Howard.
By: Cassidy Horton | Source: AOL
“Nearly two-thirds of your credit score is determined by just two factors: payment history and how much you owe,” says Howard Dvorkin, CPA and chairman of Debt.com.
By: Aly Yale | Source: Money Watch
“If the Fed cuts rates later this year or next, we’re not likely to see credit card interest drop dramatically,” says Howard Dvorkin, chairman of Debt.com. “Any changes will be slow and small.”
By: Tim Maxwell | Source: Money Watch
“The only certain prediction is that our economy will remain unpredictable for many more months,” said Howard Dvorkin, CPA and chairman of Debt.com. “Until we have clarity about the on-again-off-again tariffs and their impact, I wouldn’t count on rates dropping.”
By: Alexander Jones | Source: International Banker
“Even if headlines suggest inflation is cooling, everyday Americans are still feeling its full weight at home,” “Our findings show that many are forced to lean on high-interest credit cards just to get by—yet most haven’t taken steps to explore solutions that could help them regain control.”
By: Dawn Papandrea | Source: U.S. News and World Report
“There’s a simple reason your credit card issuer will do this,” says Howard Dvorkin, certified public accountant and chairman of Debt.com. “If you’ve been a good longtime customer, they don’t want to lose you. It costs money to recruit new customers. Many times, it’s cheaper to keep their existing customers happy.”
By: Matt Richardson | Source: Money Watch
“Inflation doesn’t just raise prices; it hikes interest rates, too,” says Howard Dvorkin, chairman of Debt.com. “That credit card that once charged 18% interest might now be up to 22%. That’s because inflation eats into the profits of credit card issuers just like it eats into your household budget.”
By: Alice Gibbs | Source: Newsweek
“It’s so easy,” he said. “There’s almost zero friction to overspending with a credit card. Being a credit card issuer is one of the few businesses where you profit if your customers are going broke.” “Since we don’t teach personal finance in most high schools and almost no colleges, credit card debt has become a rampant social problem,” he said. “And because everyone is doing it, many people think it’s just the way things are.”
By: John Schmoll | Source: Cardratings
“If your debt is manageable, your income steady, and your credit score is solid, you can probably DIY your debt, says Howard Dvorkin, CPA and chairman of Debt.com. “You can get a personal loan with an interest rate under 10%, then use that money to pay off your credit cards, which average over 20% nationally.”
By: G. Brian Davis | Source: GOBankingRates
“If you’ve emerged from this holiday season with huge credit card balances, the last thing you want to do is apply for another card,” he said. “That’s like trying to lose your holiday pounds by eating more turkey and ham. Your better option is to get professional help paying down those balances, which will free up your finances to be more flexible in 2025.”
By: Pete Grieve | Source: Money
“Can they get the money out of you? Not really. Is it annoying? Yes,” Dvorkin says.
By: Martin Dasko | Source: GOBankingRates
“Go to an ATM and withdraw cold, hard cash. Use that instead,” he elaborated. “You won’t have to worry about identity theft, and you’ll save way more than you would earn in credit card reward points. “The reason is simple: It’s really, really hard to hand over cash. You’ll spend much less if you have to hand over multiple bills instead of a single piece of plastic.”
By: Kiplinger Advisor Collective | Source: Kiplinger
“A lot of your credit score is determined by ‘payment history.’ That just means, ‘Do you pay your bills on time?’ It represents 35% of your score. The second-biggest factor is how much you owe. If you carry hefty credit card balances, your score drops. That’s another 30%. Add them up, and it’s nearly two-thirds of your score. Focus on those two things, and you’ll be just fine.”