If there are two truths about credit scoring, it’s that paying your bills on time is a must, and there’s no shortage of complicated industry jargon. You probably already understand the former, which is the importance of keeping your credit reports free and clear of late payments. The latter may be another story. One such … Read moreCredit FAQ: When Does a Late Payment Show Up on My Credit Report?
Shopping around to make sure you find the best deal on a loan is financially smart. Getting the best interest rate and terms possible, especially on a mortgage, could save you thousands or even tens of thousands of dollars over the life of a large loan. And we can thank the internet for allowing us … Read moreLoan Shopping? Here’s How Multiple Inquiries Impact Your Credit Score
Myths and misconceptions abound when it comes to the subject of credit. Perhaps one of the biggest misconceptions about credit is the notion that you have to take on a lot of debt to earn and maintain great credit scores. In reality, the opposite is true. Your credit score is not your debt score, as … Read moreThree Ways to Build Credit Without Taking on Any Debt
The credit world is full of myths and misconceptions: Credit scores are used by employers. You only have one credit score. Closing credit card accounts can help your scores. All of these are demonstrably false, yet they seem to have a life of their own in the blogosphere. Another myth that has sprouted up recently … Read moreCredit FAQ: What’s the Difference Between a Charge-Off and a Collection?
Your credit score can affect your ability to get a loan or a mortgage, but it also determines how much you’ll pay for insurance. Depending on where they live, drivers with poor credit can pay double to even triple the auto insurance premium of a driver with good credit, according to a study by InsuranceQuotes.com. … Read moreWant to Save Money on Car Insurance? Fix Your Credit
Although they may look exactly alike tucked away inside of your wallet, credit cards and debit cards represent two very different types of payment methods. Using a debit card is similar to paying with cash or an old fashioned paper check. A debit card (which is also different from a prepaid debit card) is tied … Read moreIs It Smarter to Use a Debit Card or Credit Card?
It’s been just over a year since the now infamous Equifax data breach of 2017. To refresh your memory, this massive data breach potentially exposed the personal information of some 145.5 million U.S. consumers. The exposed data included names, addresses, Social Security numbers, and dates of birth. Of course, the Equifax data breach is not … Read moreUse a Free Credit Freeze to Stop Identity Thieves Cold
If you fall far enough behind on your bills and eventually default, you may start seeing or hearing the term “charge-off.” The term charge-off can be a little misleading, and some people even believe that a charged-off debt is one that is no longer owed. Yet, despite many hopeful wishes to the contrary, that is … Read moreThree Ways to Remove a Charge-Off From Your Credit Report