Money Management

Think that perfect credit gets you approved on any credit card application? See why you could still be denied, no matter how high your score is. [[{“value”:”

If you have perfect credit, or anything close to it, you might expect an instant approval on credit card applications. Credit card companies check your credit score during the application process. A high score makes you eligible for just about any card, including the very best credit cards.

What a lot of people don’t realize is that you could still be denied for a credit card, even with perfect credit. If this has happened to you, here’s why perfect credit sometimes isn’t enough.

Perfect credit isn’t always the deciding factor

Your credit score is an important factor that credit card companies consider when you apply for a card. If your credit score is too low for the card you want, that could lead to an instant denial.

But it’s not the only factor. Credit card companies consider your full credit and financial profile. Here are more items that can come into play during credit card applications:

Your incomeYour credit history (how long you’ve been using credit)Your current debt and debt-to-income (DTI) ratioThe number of credit cards you haveYour recent credit applications

Even with perfect credit, a card issuer could deny your application for another reason. Here are some of the most common examples.

You’ve opened or applied for too many credit cards

There’s nothing wrong with opening new credit cards, and this is a popular strategy for earning more rewards. You can earn bonus rewards in more spending categories and earn more sign-up bonuses.

Credit card issuers sometimes see this as a red flag, though. They wonder if you’ll be a profitable cardholder for them, or if you’ll just open a card, earn its sign-up bonus, and then never use it again.

Your income isn’t high enough

When you apply for a credit card, the card issuer needs to evaluate your ability to repay what you borrow. It uses your income to decide if it can approve you for a card and, if so, what credit limit to give you.

Some credit cards have minimum credit limits, which you can normally find in their terms and conditions. On the high end, some cards have minimum limits of $10,000. If the card issuer doesn’t think your income is enough for the card’s minimum credit limit, then it will deny your application.

Your DTI ratio is too high

Your DTI ratio is your monthly debt payments divided by your income. If you have $1,500 in debt payments and make $6,000 per month, then your DTI ratio is 25%. This is another factor that card issuers use to evaluate your ability to repay a credit card balance.

There aren’t any hard-and-fast rules on how high of a DTI ratio is too high. But if you have large debts in relation to your income, that could stop you from getting approved for a credit card.

Want to pay off debts more quickly and without the costly interest charges? A balance transfer card could help. This type of card doesn’t charge interest on balance transfers for an introductory period. Learn more and check out our list of the best balance transfer cards, with 0% intro APRs lasting as long as 21 months.

What to do if your credit card application is denied

Start by checking the denial reason (or reasons). You’ll receive a letter in the mail from the credit card company with the reasons it denied your application. You can also call the card issuer to ask.

Once you know the denial reason, you have a few options. You could contact the card issuer and ask for a reconsideration. In some cases, it’s possible to get a representative to take a second look at your application and possibly approve it.

You could also work on fixing the issue, and then apply for either the same card or a different one after you’ve done that. For example, if you were denied for having too many new credit cards, wait at least six to 12 months without applying for any more cards. If your DTI ratio was too high, focus on paying off debt.

With perfect credit, you’ll probably be successful on the majority of your credit card applications. Just keep in mind that it’s not 100% guaranteed, as there could still be situations where you don’t get an approval.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

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Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Still need to buy some holiday essentials so you’re prepared to celebrate Christmas? Find out which Costco Christmas deals are worth it. [[{“value”:”

Believe it or not, there are only 71 days till Christmas — and it’s not too early to start shopping. Now is the perfect time to purchase all the Christmas essentials on your list. Whether you’re looking for more holiday decor or presents for your favorite people, Costco has everything you need. Here are some of the best Costco deals to shop so you’re all ready for Christmas.

1. 30-inch Pre-Lit LED Decorated Artificial Wreath

Are you looking for more outdoor decor to dress up your home for Christmas? Costco sells a 30-inch Pre-Lit LED Decorated Artificial Wreath for $59.99. You can make your home more welcoming and all dressed up for the season without draining your checking account balance. Each wreath includes batteries and a timer setting to help you extend battery life.

2. Kirkland Signature Double-sided Counter Roll Gift Wrap

Do you need to restock your holiday gift wrap collection? Costco has Christmas-themed gift bags and wrapping paper. One buy to consider is the Kirkland Signature Double-sided Counter Roll Gift Wrap. For $32.99, you can get a two-roll pack with 540 square feet of craft paper wrap.

Many other retailers sell gift wrap in packages with significantly less square footage, so this is a great deal. Buying this holiday season essential from your local Costco club is a good move because you’ll be stocked up for a while.

Remember to use a cash back credit card to pay for your Costco Christmas essentials. You can save even more by earning cash back rewards when you shop at Costco. Ready to maximize your savings? Explore our list of the top cash back cards that offer big rewards.

3. 7.5-foot Pre-lit Radiant Micro LED Slim Artificial Christmas Tree

Many people prefer artificial trees because they’re cost-effective, low-maintenance, and they’re less wasteful. But a quality artificial Christmas tree can be expensive! Luckily, as a Costco member, you can get a great artificial tree for a reasonable price.

Costco sells a 7.5′ Pre-lit Radiant Micro LED Slim Artificial Christmas Tree for $449.99. It’s pre-lit and has five light modes. Reviews rave about how easy it is to assemble. Its slim design is a great feature for those with smaller spaces. This deal is only available online.

If you were to buy a similar tree from a retailer like Balsam Hill, you could easily spend $1,000+. Having a Costco card is a win for your wallet this holiday season. If you love to save money, click here for our top list of credit cards that offer great rewards for Costco shoppers.

4. Lands’ End Family Holiday Sweater

Many families are gathering to get their holiday photos taken in the coming weeks. There’s still time to purchase matching holiday sweaters for your whole crew. Costco sells a Lands’ End Family Holiday Sweater in different sizes and fits for ladies, men, kids, and pets. (Yes, pets!)

Adult sweaters cost $21.99, kids’ sweaters $16.99, and pet sweaters $14.99. This is an excellent deal because many Lands End sweaters are priced at $50 or more on the retailer’s website. Keep in mind that this item is only available at Costco.com.

Thanks to a Costco apparel mix-and-match deal, your order may qualify for additional savings. When ordering five to nine qualifying items, you’ll save an extra $25. Meanwhile, if you order 10 or more qualifying items, you’ll get an additional $60 discount on your order.

Start shopping now to reduce your stress

Whether you need to buy holiday decor or are ready to start tackling your Christmas shopping list, don’t delay. Getting a head start can reduce your anxiety during the holiday season. Since retailers like Costco already have Christmas goods on sale, now is a great time to shop.

Top credit card to use at Costco (and everywhere else!)

We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco.

Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.

Click here to read our full review for free and apply before the $200 welcome bonus offer ends!

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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Five Below is a low-cost retailer with fantastic fall finds that don’t cost a fortune. Find out which deals to shop at Five Below this October. [[{“value”:”

Five Below is a discount retailer with shelves full of bargain buys. If you have never shopped at your local store, now is an excellent time of year to stop by to explore the deals. The retailer sells various goods, including candy, decorations, games and toys, cosmetics, and more.

While some items are priced above $5, most cost $5 or less — just like the store name suggests. Fall is a good time to visit because there are plentiful holiday-themed finds. Many shoppers can keep more money in their checking accounts by shopping at Five Below.

Here are a few fantastic products to buy from Five Below this October.

1. Light-Up Skeleton Arm Stakes: $5

You don’t have to spend a fortune decorating for the spooky season. Five Below has many affordable indoor and outdoor Halloween decor items. One option is a two-pack of light-up skeleton arm stakes. These battery-powered stakes are a perfect way to decorate your yard, and they cost $5.

In addition to getting a good deal by purchasing this Halloween find at Five Below, pay with a rewards credit card at checkout. You can earn cash back when you swipe your card. Click here to review our curated list of top cash back cards that offer big rewards.

2. Hot Dog Halloween Pet Costume: $5

Do you need a last-minute costume for your furry friend? I don’t know about you, but anytime I’ve dressed one of my pets in a costume, they only cooperated for a few seconds — enough for me to take a quick photo. So, spending a ton of money on pet costumes doesn’t make sense.

Five Below has exactly what you need to get your furry pal ready for Halloween. You can buy a hot dog pet costume for $5 at your local Five Below. It’s available in small through large sizes.

3. Halloween Witch Hats: $3

If you or your kiddos are planning to dress up for Halloween this year, don’t feel pressured to buy expensive, elaborate costumes. Five Below sells affordably priced accessories that allow you to assemble winning costumes with other items you already have at home.

Why not dress the entire family up as a coven of witches? You can purchase a five-pack of witch hats from your local Five Below for only $3. This makes for an affordable group costume idea or a great way to decorate your home for the upcoming holiday.

4. 3-count Stacking Pumpkins: $5

Here’s another low-cost decorative Halloween find from Five Below. The retailer sells a set of three stacking pumpkins for $5. This makes for an easy way to dress up your walkway, porch, or patio. If you want to make your home stand out at nighttime, consider adding some string lights, too.

5. 250-piece Beetlejuice Jigsaw Puzzle: $5

Want to add some seasonal games and puzzles to your collection? Five Below has many options. One item that you can buy is a 250-piece Beetlejuice Jigsaw Puzzle. For only $5, it’s an excellent purchase for your next family game night or a perfect spooky season gift.

Maximize your savings by earning rewards with your credit card

Shopping deals at low-cost retailers like Five Below is a wise financial strategy. You can get what you need without ignoring your budget. As you shop, remember to look for opportunities to maximize your savings — and using the right credit card can help.

You can earn points, miles, or cash back rewards when you pay with a rewards credit card. Explore our list of the top rewards credit cards to find out how easy it is to earn rewards when you shop.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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You can save well for retirement on a $50,000 salary. Read on to see what target you should aim for. [[{“value”:”

Saving for retirement is something you may be inclined to put on the back burner — especially if your salary isn’t enormous and you need to prioritize immediate bills like groceries, utilities, and rent or mortgage payments. But if you don’t save for retirement, you might end up in a pretty bad place once your career comes to an end. So it’s important to make an effort to save for your senior years as best as you can.

If you earn a $200,000 salary, it’s conceivable that you might be able to save a nice chunk of money for retirement each year. But what if you earn just $50,000 a year? That may be enough to pay your bills. But it probably doesn’t leave you with a ton of wiggle room to fund your long-term savings.

That said, it’s important to set realistic goals for your retirement savings. And you should know that with the right strategy, even small retirement plan contributions can go a long way over time.

A savings plan needs to work for you

If you search the internet, you’ll see that many experts advise saving 15% to 20% of your income for retirement. And if you can pull that off, great. But if you can’t manage to save 15% to 20% on a $50,000 salary, don’t sweat it.

You can’t sacrifice your near-term bills to fund a retirement plan instead. So rather than focus on these percentages, take an honest look at your spending and try to figure out what a reasonable monthly contribution might look like for you.

If you’re able to save $200 a month, or $2,400 a year, it’s a little less than 5% of your salary. And while that’s below the 15% to 20% experts like to recommend, if it works for you, then that’s the amount of money you should be saving. Period. If you can swing $300 a month, even better. If you can only afford $100 a month, that’s fine as well.

Your monthly retirement plan contribution has to be a number you can afford without causing yourself financial stress. The good news, though, is that if you contribute to a traditional individual retirement account (IRA), that money goes in on a tax-free basis.

Put another way, if you contribute $2,400 to an IRA this year, the IRS won’t tax you on $2,400 of your salary. If you’re single earning $50,000 a year and have no other income, you’re in the 22% tax bracket. So a $2,400 IRA contribution has you paying the IRS $528 less.

Ready to enjoy a tax break on investment contributions? Click here for a list of the best IRAs for your retirement savings.

How to make small retirement plan contributions work for you

You might assume that if you’re only making small contributions to a retirement account, you’re not going to end up with that much money. But you may be surprised at how much wealth you’re able to grow if you start saving for retirement from a young age and invest your money in stocks.

Over the past 50 years, the S&P 500’s average annual return has been 10%, accounting for years of solid gains as well as years when the market tanked. Let’s be a bit more conservative and assume you’ll get a 9% return in your IRA. If so, here’s the balance you’re looking at after 40 years, depending on your monthly contributions.

None of these are small figures. In fact, as of 2022, the median retirement savings balance among Americans aged 65 to 74 was $200,000, according to Federal Reserve data. So even if you’re only able to save $100 a month based on your $50,000 salary, you could potentially retire with more than twice that median balance by contributing to an IRA over 40 years and investing in stocks.

Of course, as your salary increases over time, so too should you aim to increase your IRA contributions. The point, however, is that saving to the best of your ability could go a long way, so don’t sweat it if you’re only able to contribute so much from your paychecks on a $50,000 salary.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Costco offers more than just cheap groceries in bulk. Read on to learn more about the hidden benefits a membership offers. [[{“value”:”

There’s a reason millions of people are willing to pay a membership fee to join Costco. In addition to savings on bulk groceries, Costco members can maximize their memberships by enjoying a world of perks, some of which are less well-known than others.

Here are a few of the best Costco membership perks you probably didn’t know about.

1. Extended warranties on electronics

A new TV or laptop isn’t the sort of item you’re going to buy every day. So when you spend the money, you want reassurance that your device isn’t going to break the second it’s out of warranty.

The good thing about buying electronics at Costco is that you’ll get a second-year warranty for free. This way, you get more peace of mind when you’re buying an item you may have to stretch your budget for. Plus, when you buy electronics at Costco, you’re eligible for free tech support in case you hit a snag getting your devices set up.

2. Lifetime maintenance for tires

Tires don’t last forever — though it would be nice if they did, seeing as how they aren’t cheap. When you buy tires at Costco, though, you don’t just benefit from the low prices the store’s auto center offers. You also get free lifetime maintenance.

In addition to a five-year road hazard warranty, Costco tires come with free rotations, pressure checks, and balancing. This means you won’t have to pay a mechanic to keep your tires in great shape.

3. Gas that’s designed to outperform

It’s not exactly a secret that Costco has some of the cheapest gas in town. But what you may not know is that Costco gasoline carries the TOP TIER certification. Costco’s gas is not only more affordable than the competition, but it’s also designed to lead to better driving performance by cleaning your engine.

Plus, if you fill up at Costco using the right credit cards, you can bank extra cash back or rewards to add to your savings. Click here for a list of the best credit cards for gasoline purchases.

4. Bottled water delivery

If you don’t have access to water you’re comfortable drinking, or if your local water supply has a strange taste, then you may have to rely on bottled water to stay hydrated. Another lesser-known Costco benefit is that you can sign up for bottled water delivery at an affordable price.

Costco offers several options. You can choose from spring, purified, or alkaline water, and you can arrange for delivery on a schedule that best meets your needs.

5. Home installation services

Finding a trusted home improvement contractor can be challenging. As a Costco member, you get access to a host of affordable home installation services provided by contractors Costco works with. These include bathroom remodels, window treatments, standby generators (a must-have if you’re in a power outage-prone area), and heating and air conditioning systems.

When you use a random company you find on the internet, you never quite know what service to expect. But when you book through Costco, you get the reassurance that comes with the Costco name.

Plus, certain home services booked through Costco give you money to spend at the store as a reward. For example, if you use Costco to replace your windows, you earn a 10% Shop Card (Costco’s version of a gift card).

There are certain perks Costco is well-known for, like its famous $1.50 hot dog combo at the food court and the delicious free samples members can snack on as they shop. The five benefits discussed above aren’t as obvious. But they can save you money and help you eke a lot more value out of your membership.

So if you’re on the fence about joining Costco, you should consider these perks as you make your decision.

Top credit card to use at Costco (and everywhere else!)

We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco.

Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.

Click here to read our full review for free and apply before the $200 welcome bonus offer ends!

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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