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...]
How to Build Good Credit From Scratch
Building, managing, and using credit can seem like strange, unfamiliar new part of life to young people who are just beginning on a walk down the path of adulthood. Properly understanding and responsibly utilizing credit is an essential part of financial life, but it can be a daunting task when first starting out. With all the new responsibilities of moving out on your … [Read more...]
How Far Does The Influence Of Your Credit Score Really Reach?
You’ll hear all about it anytime you go looking for financial advice. It seems like credit is behind just about everything. There’s a lot of misinformation and confusion in the air for beginners. So we want to clear things up. In this article, we’re going to be talking about the real effects that your credit score has on your life. On your finances and outside them, as … [Read more...]
Do Credit Repair Companies Really Work
Has bad credit been a big part of your past? When you think about it your credit allows you to do all sorts of things from get loans for a house, a car, credit cards, apply for student loans and whole lot more. Without good credit almost all of these options are not possible. I say almost because in the small chance that you do qualify you would likely be paying huge … [Read more...]
What Credit Score Do I Need To Get A Credit Card
There was a time in the not so distant past that credit card companies were literally mailing credit cards to almost anyone with a US address. Credit scores were taken into account but they did not hold the weight they should have. As a result, many banks and financial institutions went under during the financial crisis of 2008 and 2009. Today it is much more difficult to … [Read more...]
Credit Guidance – Should I Pay Charged Off Accounts?
Until the recent economic meltdown, large charge offs on credit histories were a fairly rare occurrence. With the economy still struggling to regain its footing, this is changing rapidly, and more people will be facing the necessity of dealing with charge offs on their credit histories. Everyone who obtains a charged off account on their credit history wonders “Should I pay … [Read more...]
What Are The Different Types of Credit Scores?
Not all credit scores are created equal, not even close. Did you know there are actually different types of credit scores? Here are the 5 most popular types… 1. FICO Hands down, FICO is the most popular type of credit score. It was first launched in 1958 and today, well over 90% of the largest lenders use it. All of the best credit cards and loans will take into account … [Read more...]
How To Freeze Your Credit Report In 3 Easy Steps
A few years back a close family member of mine was checking out at a local Walmart. As she packed up here things and left about a half hour later she got a phone call from her credit card provider explaining she had some recent transactions on her card from Las Vages, Sweden, and countless other places around the globe. From here they stopped all further transactions … [Read more...]
Excellent Credit Score – 8 Factors That Make Up A Great Score
In my last article I talked about how to fix a bad credit score, so in this article I'm going to go a step further and cover what makes up an excellent credit score and show the 8 main factors that determine what your score will be. So if you're someone who wants to understand just how your credit score and report works this article is for you. What Is Considered An Excellent … [Read more...]
How To Fix A Bad Credit Score In 5 Actionable Steps
Recently, I've been in the process buying a new house and as a result I've been thinking about the role my credit score and report is playing in this process. Think about it, if I have a bad credit score I could go from getting an interest rate of 4.5% or better, to a rate of 6% or higher. On a $120,000 mortgage that's a payment difference of $600 to $720. This prompted … [Read more...]