Was your home foreclosed on? Filed for bankruptcy? If your credit score has taken a hit, find out how to repair your credit.
Article Summary: Typically, having bad credit is worse than having no credit history. This is primarily because it’s harder to repair bad credit than build it. However, there are some exceptions to this. Your credit score is a three-digit number that reflects your creditworthiness. Lenders use it to assess the risk of lending you money. […]
Article Summary: Though you can illegally change your credit score by paying a hacker to change it for you or inventing a new “credit identity,” these are dangerous and (again) illegal credit repair tactics. Rather than resorting to these methods, you can legally repair your credit score by making timely payments, reducing your credit utilization, […]
Article Summary: What is a tradeline? Tradelines are credit accounts or loans and are extremely important for your credit score and your future. Without a good credit history, you won’t be able to buy a house on your own, or possibly even a car. Like it or not, we live in a credit world, and […]
Article Summary: Car repossession occurs when a borrower stops making loan payments and the lender removes the vehicle from the borrower’s property and possession. A repossession remains on a credit report for seven years and negatively impacts your score. However, it is possible to rebuild your credit score after a repossession. No one wants a […]
Article Summary: When a lender legally seizes property to repay a debt, this is called repossession. Repossessions most commonly occur when you fall behind on repaying a loan. And, unfortunately, they show up on, and negatively affect, your credit report. In this article, we will explain two types of repossessions, answer the question “how long […]
Article Summary: Every time you apply for a new line of credit, lenders will usually take a hard credit pull on your credit report. A single hard credit inquiry only drops your FICO® Score (the most commonly used scoring model) by about five points. But multiple inquiries — particularly if they are fraudulent or inaccurate […]
Tax liens are the nuclear option in the IRS’s arsenal. They can affect all your property, including your home and vehicles. Even financial assets and businesses that you might own are not safe. Also, they can attach to assets that you buy once the IRS issues the demand for payment. The good news is that […]
In partnership with Experian and fintech company Finicity, FICO recently announced a new credit scoring model called the UltraFICO Score. This new score will give customers the choice to include data from their bank accounts as well. This marks the first time the credit scoring pioneer has included consumer-contributed data in its credit scoring calculations. This makes it possible for people who can’t […]
If you have bad credit or you’re looking to get your first credit account, a credit card can help you establish a great credit score. But getting a credit card isn’t always wise or possible. For example, student credit cards typically have an income requirement, which is hard to meet if you’re going to school full time. And secured credit […]
Your credit score is a three-digit snapshot of your credit history and provides lenders with an idea of how trustworthy you are as a borrower. The better your credit score, the easier it is to get approved for loans and credit cards and score low interest rates along the way. But what is a perfect credit […]
Unfortunately, there are no debit cards that build credit. Debit cards and credit cards have different functions and purposes, so if you try to get a debit card that builds credit, you’ll be disappointed. “When you use a debit card, the payment is taken directly from your bank account unlike a credit card where you […]
How much you owe makes up 30% of your FICO credit score. A big part of that – though not the whole thing – is how much you owe on your credit cards. Having a low credit utilization rate is crucial to building and maintaining an excellent credit score. Read on to learn how to […]
Are you looking to build or repair your credit? A credit-builder loan may be worth considering since it’s designed to build your credit profile or increase your credit score. They’re ideal for credit newbies and those looking for a fresh start. Credit-builder loans also work for cash-strapped consumers since they don’t require a security deposit. […]
During a medical emergency, the last things that you’re thinking about are how you’re going to pay the medical bill or if there are unpaid medical bills on your credit report. You may not even know how much your healthcare will cost until you get the medical bill. Medical bills are so dangerous because, at the […]
Article Summary Are you going to be seeking a loan or new credit in the foreseeable future, or do you need to raise a mediocre credit score? This article explains how credit scores are calculated and gives 10 straightforward tips for boosting your credit score by 100 points. It also includes a convenient FAQ section […]
The end of the year is such a hectic time, with holiday shopping, family get-togethers, parties and other festive occasions. Thinking about money hardly seems in tune with the season. But the end of the year is precisely the right time to map out financial strategies for the coming year. Following these 10 tips can […]
You may have heard or read the advice that you should work to maintain your credit if you have good credit, and to improve your credit If you have bad credit. But you may wonder just how much your credit actually affects your life. If you are attempting to make changes in your life, your […]
A credit score is a number ranging from 300-850, which creditors use to evaluate how well you will potentially be able to repay your bills. There are three credit bureaus: Transunion, Experian, and Equifax. These agencies receive information about you from creditors and compile that information into a credit risk score. Some creditors send information […]
Your credit report has a huge impact on your financial life. A good credit score will give you access to the best terms and rates when applying for loans and credit cards. If you have a bad credit score you may not qualify for loans with mainstream lenders, your insurance premiums may be higher, you […]
Credit repair companies exist to help individuals repair their overall credit score by handling the process on their behalf. They help clients evaluate their credit report to identify possible inaccurate information. They can then act on your behalf to challenge those items as well as those that are unfair or unsubstantiated and request that they […]
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