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.
4 Scary Credit Stories You Can’t Afford to Believe
Everyone wants a great credit score, but it turns out there are some persistent scary credit stories going around that could turn this goal - and your finances - into a nightmare. According to a recent survey by Capital One on Americans’ credit confidence, plenty of respondents describe their credit history favorably, or at least [...]
5 Common Myths About Car Insurance
When buying car insurance, it’s important to understand the factors that can affect your premium rates and coverage. But how can you tell the difference between truth and fiction? A good place to start is by reading the following on the five common myths about auto insurance. Myth 1: It’s all black and white During [...]
How a Tax Lien Can Impact Your Credit Score
If you owe money to the IRS, the agency could file a tax lien against you. A tax lien is a legal claim to all of a taxpayer’s property for the amount that taxpayer owes the IRS. It establishes priority rights against other creditors that might also have liens against the taxpayer’s assets. In addition [...]
When Should You Refinance Your Mortgage?
With today’s low interest rates, many homeowners are refinancing their mortgages. In doing so, they will be not only paying less interest over the life of the mortgage but also lowering their monthly payments. Timing is everything when it comes to refinancing your mortgage. If you wait too long and interest rates climb, you could [...]
How Pulling Your Credit Report Impacts Your Credit Score, and Other Credit Score Facts
Accessing or “pulling” your credit report allows you to review your credit behavior. You can see what lenders are reporting about you while you monitor your payment history. Checking your credit report should be a regular part of your routine financial behavior, similarly to reviewing your bank statements or creating a budget. Some consumers are [...]
3 Tips to Get a Lower interest Rate
Want a lower interest rate, late payment fee forgiveness or a higher credit limit? Just ask for it. Nearly nine out of 10 credit cardholders who asked their credit card companies to waive a late payment fee were successful, and about two-thirds who asked for a lower interest rate were approved, according to CreditCards.com. “It’s [...]
How FICO 9 Could Improve Your Credit Score (If Lenders Actually Use It)
Recently, FICO introduced a new scoring model that could potentially make a big impact on housing—if mortgage lenders ever use it. The FICO 9 score would limit the impact of paid medical collections on a consumer’s credit score, potentially lifting scores by 25 points on average, the company says. That’s good news to anyone who’s [...]
Check Your Credit Score Before Shopping for a Mortgage
It’s selling season and buyers are excited to take advantage of the incredible low interest rates out there. But before you start shopping for a mortgage, you should check your credit score. You need to know where your credit stands to be able to work towards the house of your dreams. FICO credit scores start at 300 [...]
Credit Monitoring FAQs: I Received an Alert, What Should I Do?
If you’ve purchased a credit monitoring product to help you stay on top of the information in your credit file, you may at some point receive an alert. When the alert is about a change you’ve recently initiated—a new credit card or mortgage, for example—it may not be a surprise. But when you receive an [...]