Everything you need to know about where you stand credit-wise.
Are you aware of everyone who can pull your credit report? Many people do not realize that their credit score factors into more than just getting a credit card or a home loan. Any time you apply for credit, the potential lender can get your credit report to determine how risky it is to lend [...]
Your credit utilization ratio is the total of your credit balances divided by the total of your credit limit. If you have credit cards and a revolving loan that make it possible for you to charge $10,000 worth of purchases and you have spent $5,000 – you have a 50% credit utilization ratio. Your credit [...]
What is Debt to Credit Ratio? In simple terms, debt to credit ratio is the amount you owe on a card to the credit limit on that card. For example, if you have a credit card with a $10,000 dollar limit and what you owe on that card is $5,000, you have a debt ratio [...]
Credit counseling is just one option for those who are struggling with debt problems and credit issues to find relief and a light at the end of the financial tunnel. However, many consumers will shy away from getting the help credit counseling offers because they fear the process will ruin their credit score. This is [...]
If age is just a number, does it make a difference in your ability to have good credit or not? Because the length of credit history plays a role in calculating credit scores, it’s common for older adults to have higher credit scores than young adults. People generally have different financial goals and struggles at [...]
Having good credit is critical when it comes to your financial future. Credit history and credit scores are looked at every time you ask for credit, including when you apply for a credit card, an auto loan and a home loan. The better your credit history and the higher your credit score, the more likely [...]
With the news of the ongoing housing market troubles and the high costs of living, many consumers are content with continuing to rent rather than buy. But new information shows that renting may not be ideal for some people worried about rising costs. There are some considerations to make when deciding whether to keep renting [...]
I remember when I was 18, one of the main reasons I signed up for a credit card right away was because I wanted to begin building my credit. I would imagine a lot of people – both young and old – get credit cards for that same reason. Yet ironically, instead of helping our [...]
There has been a lot of talk about the possibility of consumers across the board getting free access to their credit scores. Currently, the only way to see your credit score is if you pay for each of the scores offered by Transunion and Equifax. Each company charges about $15 a pop for a credit [...]
In recent years a consumer credit score ranging from 680 or higher was a measure of good credit management. But a lot has happened in the financial sector of the nation and changes have been made in credit cards, the housing market, and other industries which has necessitated the need to raise the ideal three-digit [...]
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