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...]
Getting The Cheapest Credit Score: A Credit Karma Review
Finding the cheapest credit score and report these days can be an easy thing to do these days. However not all online credit sites are the same. For example, at annual credit report dot com they claim to give you the cheapest credit report however once you sign in you can get your free report from all three credit bureaus however the credit score will cost you. This seems … [Read more...]
Cheap Credit Score: 6 Simple Steps To Getting Your Credit Report
In a recent article I covered what 3 place you could get your cheap credit report for free, so in this article I going to cover one of those option in a little more detail and show where and how to get a cheap credit score report and walk you through the entire process step by step. Where To Get Your Cheap Credit Score From If your looking to get a cheap credit report I … [Read more...]
How Cutting Your Available Credit Can Hurt You
In yesterdays post I talked about how age plays a role in your credit score, in today's post I'm going to discuss what role the amount of credit you have plays a role. How Cutting Your Available Credit Can Hurt You Your available credit plays a big role in your credit score, even bigger than the age of your credit. Cutting your credit available is usually a common pitfall … [Read more...]