A credit history is your financial autobiography. It lists your name, current and previous addresses, phone number, Social Security number, date of birth, current and previous employers. It may also have your spouse’s name. It lists credit accounts, public records, credit inquiries and any statements of dispute. A good credit history can help you get the best terms on every financial transaction. Learn here how your credit history will affect you.
Will Closing Credit Cards Hurt My Credit Score?
Will Closing Credit Cards Hurt My Credit Score? Q: I am looking to buy a home in the near future. I recently heard that my credit card with a big box discount store would come to an end. I signed up for a credit card with the big box store years ago to get a [...]
Why Do High Credit Scores Matter?
Why do high credit scores matter? High credit scores help determine a person's creditworthiness. Creditors are much more likely to give you a loan or approve your credit card application if you are deemed credit worthy. In addition, if you have a high credit score, you'll get a lower interest rate offer and often a [...]
How Can I Build My Credit If I Have No Credit?
How can I build my credit if I have no credit? This reader wants to know how to go about buying a car and a home with no credit history. Q: I'm in the process of buying my first car (researching, calculating finances) and I wanted to ask what your advice would be as I [...]
Real Estate Fraud Can Result In Credit Report Problems
Real estate fraud often results in problems with credit reports - even if the person was a victim of fraud. In some cases, the home owner benefits from the mortgage lender's attempt at real estate fraud, so the fraud may ruin her credit and credit report. Ilyce describes the problems real estate fraud can cause to a person's credit report.
ARM Mortgage Rates Increase
What can you do when the introductory rate on your adjustable rate mortgage (ARM) is expiring? You need to understand what index your ARM mortgage is tied to and how the rate will change after the introductory period. You can then decide whether to refinance your ARM mortgage with a different interest rate.
Credit Scores Matter More And More
Like it of no, your credit score matters. A few bad financial mistakes made in your early 20s can haunt you for the next decade or more. Credit score has become the key driver in the financial world. Creditors will decide whether to grant you credit and how much you'll be charged based on your credit score. And, insurance companies will decide whether to allow you to purchase various forms of insurance, and how much you'll be charged, based on your score.
Credit Cards: Rising Gas Prices Can Affect Credit History
Small things like the rising costs of gas prices can affect a consumer's credit history if they start missing credit card payments. Rising gas prices may force consumers to make only the minimum payments on their credit cards or miss them altogether, which will negatively affect their credit history. Even one late payment can affect a consumer's credit score so if you have to pay cash at the pump, do so, instead of using your credit card.
Creating Credit In A Cash Economy
Cashing checks at a currency exchange doesn't help you create a credit history. If you don't have a credit history, it's a lot tougher to get a credit card, not to mention an auto loan or a mortgage or even a job. Ilyce explains what you need to do to create a credit history and gain access to credit that can help you to buy a house, buy a car, or achieve other financial goals.
Don’t Pay For Your Credit Report
You can get a free copy of your credit report each year. President Bush signed legislation that required each of the three major credit reporting bureaus, Experian, Equifax, and Trans-union to give you a free copy of your credit report each year. Ilyce Glink tells you how to get a free credit report and how to avoid being scammed by companies that give you a credit report copy but then charge you a fee for "credit monitoring".
How To Raise Credit Score To Prepare For Mortgage
To qualify for a mortgage you have to have a clean credit history and a good credit score. What can you to do improve your credit when you want to buy a home? Learn tips to raise the credit score and how to plan for the purchase of property.