The term credit can mean many things. For most people, it is the ability to borrow today and pay later. The idea of “credit-worthiness” defines our personal finances, and reaches out to all parts of our financial lives. Credit can be an accounting term. You can talk about credit cards, your credit history, your credit score, or the three credits you got in college for taking Bowling. This page is the credit nerve center of ThinkGlink.com. From this page you can learn more about what credit means and how having good, bad, or mediocre credit affects your personal finances.
Credit Card Companies Can Change Terms
Many credit card companies will try to convince you to open an account by promising not to change your credit card rates. Unfortunately, this isn't a promise they intend to keep. What promises do credit card companies make about credit card rates? What factors affect credit card rates? Can your behavior affect your credit card rates? Can factors out of your control affect your credit card rates?
Credit Counseling Scam Organizations
An elderly couple has gotten into credit card debt after retirement. Credit counseling from a non-profit organization may be able to help. During a credit counseling session, they can receive coaching on how to manage their debt. Depending on the debt load, credit counseling can help you learn how to pay off your debt. Be careful to avoid scams from other companies claiming to offer help.
Steps For Establishing A Credit History
Having a good credit score will help you get a better mortgage interest rate. Learn how mortgage lenders use your credit score from mortgage broker Victor Benoun. You should try to increase your credit score before you apply for a mortgage. To establish a good credit score you must make your payments on time and in full every month.
Protecting Companies From Identity Theft
What can your company do to prevent identity theft? What steps can companies take to achieve identity theft protection and prevention? Learn about preventing identity theft here.
Getting A Car Loan After Bankruptcy
Getting a car loan after filing for Chapter 7 bankruptcy will be difficult because of a bad credit score. Person to person lenders might be an option for getting a car loan with bad credit.
Parts Of Your Credit History
What is included in your credit history? First, your credit history also includes personal factual information, such as your name, Social Security number, current address, how long you've lived at your current address, and past addresses. Your credit history is primarily a list of all of the financial activity in your life. It lists all of the credit accounts you have ever opened, and how long they've been opened, including credit cards, a mortgage, home equity loan, student loans, car loans, personal loans (provided that those were reported to the credit reporting bureaus), lay-aways, and any other type of credit or lending account you might have.
Closing Credit Card Affects Credit Score
How will closing a credit card will impact your credit score. The impact of closing a credit card depends on how long you have had the credit card and whether it has been paid off.
Paying Off Credit Card Debt After Father’s Death
An adult child asks who has to repay his father's credit card debt after his father dies. When a death occurs, the person responsible for credit card debt depends on whose name was on the credit cards. After this death, it may fall to the man's wife to repay the credit card debt.
Credit Score: Impact Of Bankruptcy Or Collections
Is bankruptcy or debt collections worse for a credit score? Both debt collections and bankruptcy impact a credit score, although a bankruptcy will stay on a credit report longer than debt collections will. The type of debt also affects how it is reported to credit reporting bureaus and how important its creditors deem it.
Dividing Divorce Assets Could Affect Credit
When you get divorced, the person whose name is on the mortgage loan is responsible for that debt, even if both people's names appear on the title to the home. To change the names on a mortgage loan, the loan must be refinanced. Depending on how this asset, the home, is divided between the two spouses during a divorce, it could affect their credit histories and credit scores.