Knowing how credit scores work can help ensure yours is the best it can possibly be. Over the years, a number of misconceptions have crept into popular knowledge surrounding this topic. Let’s take a look at some of the most prevalent to set the record straight. So, here’s a list of the top credit score myths — debunked.   #1 Your Credit Score Can Cost You a … [Read more...]

If you have ever tried to engage in any kind of formal borrowing, you will probably have some sense of just how important it is to have a good credit rating. The truth is that you can’t expect to be able to borrow much at all if you have poor credit, and yet the sad truth is that many of us are in this exact position. If you are in this state, then the first thing to … [Read more...]

Surprisingly, it’s all too easy for something like a car accident to derail a spotless credit history. You might not even find out it’s falling until your credit card rates start rising or you get turned down for a loan. The worst part is that it can dive through no fault of your own if you’re in an accident and end up in the hospital.   Credit score doesn’t … [Read more...]

Is lack of credit stopping you from qualifying for a personal loan or a new car? You're not alone. In fact, 1 in 10 Americans qualifies as "credit invisible," which means they have no credit history. An empty credit score can hold you back from big, important purchases. Banks, lenders, and even landlords will have a hard time determining your trustworthiness without one. … [Read more...]

Going to work and paying bills is something most people do without much thought. There may come a time when you are unable to work due to illness or a family emergency. Getting money to get through these hard times is more complicated than you may think. With all of the different lending options on the market, choosing the best one will require lots of research. One of the … [Read more...]

A typical loan processing starts with a loan application. A debtor fills out relevant information, from personal data to financial figures. The application is processed and a credit investigation takes place. After this, the creditor decides, based on available data, whether to approve a new loan or not. But after waiting for a couple of days, it would be disappointing to … [Read more...]

Although it’s possible to survive with a bad credit score, it’s not easy.  There are all sorts of ways that a negative score can impact your life. Whether you’re trying to rent an apartment, or even get a cell phone contract, your score will determine the price you pay. In order to feel financial freedom and confidence, it’s important to get your credit in check.  More … [Read more...]

Bad credit does not have to spell the end of your financial dreams. All across America, millions of people are struggling to get back on track after being affected by a bad credit score.  Over 30 percent of Americans have credit scores below 601- the distinguishing point for bad credit. Having a poor credit score can affect so many parts of your life. Yet approximately 11 … [Read more...]

Many of us have issues with money at one time or another. When you’re young and careless, you can find yourself taking out loans and cards without any real understanding of the problems that falling behind on them can cause. Even if you’re financially savvy, losing your job, getting ill or other circumstances beyond your control can set off a chain reaction- leading to … [Read more...]

Your credit score is one of the most important numbers when it comes to your financial health. This score can be anywhere from 300 to 850, and the higher it is, the better off you'll be whenever you need to borrow money. Since there are a variety of factors that affect your credit score, it's good to check your score periodically to see where it's at. This is especially … [Read more...]