Toy car on legal documents with two hands passing car keys behind

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 […]

Man looks at repossesion notice and wonders how long it will stay on his credit report

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 […]

ULTRAFICO SCORE launched

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 […]

secured credit cards that repair credit

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 […]

ideal credit utilization rate

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 […]