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Banks, credit card companies and other businesses use credit scores to estimate how likely you are to pay back money you borrow. A higher score makes it easier to qualify for a loan or lower interest rates. Many scores range from 300- 850, but different companies use different ranges.
Infographic from the Consumer Financial Protection Bureau on the many different types of scores and what they are used for.
The U.S. Department of Education's decision to reverse it's rule on the addition of collection fees to student loans may cost borrowers thousands of dollars.
If you follow a few sure-fire steps, you can build your credit enough to buy your own house or your own car. Here are five steps to take to get your credit where it needs to be.
There is not a lot that hurts your finances more than having collectors calling and collection accounts on your credit report. However, chasing those accounts may not be the best use of your time.
What does it take to hit the top of the credit score scale?
Getting credit can be difficult if you do not already have credit. Learn what FICO has come up with to help people build a good history using their normal bills.
The days of using balance transfers to get out of debt are not over, but there are certain stipulations you should know before you sign up.
We have heard that applying for credit can impact our credit score. One or two inquiries may have little effect on the numbers, but having several in a year can take its toll. Those applications can have a greater negative effect if they are for credit card accounts.
Often targets for bogus financial services, military members, veterans and their families need ways to monitor their credit.
Call us at (888) 864-8548
and your counselor will review your credit report, analyze your financial situation and help you find the option that's best for you.
