Many young people hold a stigma against credit cards, under the assumption that they will get into too much debt. However, there are plenty of viable credit card options for young people who want to build up their credit history in a healthy way. As you can see from the graph below, millennials are currently [...]
Have you missed a couple of payments? Are you worried that these late payments may have ruined your credit score? Don’t freak out just yet! Here’s how payment history affects your FICO score, and what you can do about it. What is my FICO score and why does it matter? Your FICO score is a number [...]
When it comes to obtaining new credit, having a good credit score is vital. A good credit score could potentially save you thousands of dollars over the course of a loan. Contrary to popular belief, your credit score is not going to be constantly updated by credit rating agencies. You can't pay off a bill [...]
Every day a person’s credit score become a little more important. Financial institutions are not the only ones that use these scores anymore. Employers and landlords are beginning to check these scores to determine the dependability of an individual. A person’s credit score can range anywhere from 300 or less up to 800: Financial [...]
No matter how amazing you think you are at using a credit card, chances are you going to make a mistake eventually. The truth is that everyone eventually makes a mistake. The rules never stay the same. In fact, the rules for the end game are changed by lenders every day. Make sure that [...]
If you were born after 1980, there’s a good chance you’re more averse to taking credit than if you were born earlier. But, if you’re interested in building and maintaining a solid credit score, read on for credit boosting tips. Millennials and their credit Millennials, people who became adults around the turn of the millennium [...]
You’ve probably heard of the three consumer credit reporting companies: Equifax, TransUnion, and Experian. These companies tell credit lenders if you’re a reliable consumer that manages credit lines well. If you’ve got a bad credit score… Then it’s probably hard for you to open new lines of credit. And it’s almost impossible to get approval [...]
In order to purchase a home, the majority of us will need to get a mortgage. However, mortgage lenders are becoming increasingly wary about who they will lend money to. It is important now more than ever that you understand what a credit score is, and how a low score can affect your mortgage [...]
We often hear that credit utilization is important to our credit scores, but what is it? Why is it so important? And how can you make it work in your favor? What is credit utilization? Your credit utilization is a measure of how much credit is available to you vs how much you are actually [...]
The three major credit bureaus have huge amounts of information about the American consumer which can have a profound influence on his or her life. Here are some things they don’t want you to know about how they work, and a few ways to ensure that the information they hold is as positive as possible. [...]
