While an increasing number of consumers are aware of their credit scores, a good deal of confusion still exists about what does — and doesn’t — impact your score. For example, there is a popular myth that carrying a balance from month to month will somehow help your credit. This is not true, however. […]
Despite the fact that it starts out as our money in the first place, it’s all too easy to think of your tax refund as “bonus” money. Once you know that check or direct deposit is on its way, you may be tempted to start daydreaming of a new big screen or that oft-postponed family […]
At the point in history when lending occurred primarily within families and small communities, many borrowers likely knew their lender — and his or her spouse and children — by name. In those days, your personal creditworthiness likely depended as much on your reputation among your neighbors as it did on your actual financial status.
If you have bad credit, you have probably already noticed how difficult it makes it to acquire a loan from your average lender. Many lenders do not want anything to do with you unless your credit score reaches a certain level, and even then, you could end up paying high loan interest rates. The truth […]
There are many things a consumer can do to help them maintain a good credit score. Here are five simple steps to keeping your credit in tip-top shape: 1. Know what a credit score entails. Knowing how a credit score is calculated is key. Your credit score is calculated based on five different things: your […]
Your credit score is a seemingly ethereal number that you likely only think of when you are considering acquiring a credit card or loan. Consumers rarely give much thought to their credit score beyond this sort of scenario. What many people do not understand, however, is how vital maintaining a good credit score is for […]
These days, having a good credit score is key to gaining access to all kinds of things. Because of this, of course, it behooves you to do whatever you can to get your score up as high as possible. And learning exactly how a credit score is calculated is important if you want to know […]
These days, most everyone probably is familiar with credit bureaus and knows about the big three: Equifax, Experian and TransUnion. If you’ve ever tried to get a loan from a bank or credit union, ever attempted to acquire a credit card, or even just applied for a job recently, most likely you’ve had to submit […]