Your credit score defines you financially. Establishing and maintaining good credit will make your life infinitely easier. To establish a good credit score you must make your payments on time and in full every month. You can also improve your credit score by minimizing your debt. Learn more here about your credit score and what it means for you.
Frequently Asked Credit Card Debt Questions
Frequently asked questions about credit cards, debt, credit history and credit score.
Identifying Predatory Mortgage Loans And Lenders
What is predatory lending?
Identity Theft: Repair Your Credit After Your Identity Has Been Stolen
If you've been the victim of identity theft, the Federal Trade Commission has made it easier for you to repair your credit. The FTC has one form for victims of identity theft to report the crime to your creditors and credit reporting bureaus. The FTC says all three credit reporting agencies and dozens of major creditors have agreed to accept the form from victims of identity theft.
Mortgage Payments On Credit Report
Does your mortgage or mortgage payments show up on your credit report? A history of on-time payments could help improve your score, but sub-prime lenders may not be reporting your score.
Qualifying For Home Loan After Bankruptcy
Bankruptcy is a black mark on your credit and won't allow you to get a loan at the kind of interest rates offered to buyers with good credit. Having a bankruptcy on your credit will mean paying anywhere from 2 to 5 percent above the going rate. To improve your credit history after a bankruptcy, know your credit score so you can work to improve it as quickly as possible.
Nine Reasons To Pay Off Your Credit Card Debt
While paying the minimum amount owed each month, on time, shouldn't damage your credit score, there are good reasons to pay off your credit card debts, not to mention your other loans like auto loans and school loans, and wipe your credit slate clean. Stop paying interest. Keep credit open in case of an emergency. Improve your credit to be able to receive the best credit card offers.
Take Charge Of Your Credit Score
Many people who are in debt end up getting suckered by credit repair scams that promise vastly improved credit scores (for a large upfront fee) but can't deliver without doing something illegal, like setting up a fake social security number. Others end up working with a credit consolidation company, but are unaware that being in a debt management program can torpedo their credit scores. There are endless reasons why someone might fall into financial difficulties, but there are only a few ways you can repair your credit history and credit score - none of which include hiring someone else to do it for you.
Build Credit Using Credit Cards, Not Debit Cards
Have a good credit score and history is critical to buying a home. What can you do if you're trying to improve your credit history to buy a home? Use credit cards wisely. Debit cards do not count toward building a credit history and score. If you can't qualify to get a credit card, you should set up a secured credit card with your bank.
Fraud Alert Could Help Protect Credit
Having a fraud alert on your credit history can make it difficult to gain access to your credit history and credit score. Someone who steals your identity would not be able to open up new credit cards, buy a car or get a mortgage, because the lender would see the fraud alert at the bottom of your credit file. However, a fraud alert wouldn't stop a thief from using one of your existing credit cards to run up your bill.