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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.
Everyday we are inundated by articles, sound bites, Tweets, and commercials telling us how we should be managing our money. But we all have choices and finding an unbiased person to help you make those important financial decisions can be critical to your success.
What financial topic(s) would you read about in our blog?
As you watch television, surf the Internet and flip through your favorite magazine, you will undoubtedly see companies advertising that they can show you the best deals in plastic - credit - for you to consider. There are a few reasons to hesitate from relying too much on information that looks like it’s coming from a neutral source. The main one is because the source might not be neutral at all.
Some of you might be rejoicing a bit because of news that the chief credit scoring outfit, FICO, is changing its rules about how it scores debtors. The main change is that the new system will draw a distinction between medical debt and regular debt. The other big change is the new system will disregard medical collection accounts if they are paid or settled.
Last week, FICO, the nation's top credit score provider, announced upcoming changes to the way some debts impact your credit score. This could be good news for thousands of people, if lenders adopt this new model.
People may be hesitant to reach out for help due to misconceptions about financial counseling. Here are some of the false beliefs that consumers admitted in the 2014 NFCC Financial Literacy Survey
The news that lenders are sending offers to riskier borrowers should remind you of one truth we all should have learned from the financial crisis seven years ago; just because you can borrow money doesn’t mean you should.
0% interest for a year, earn cash back, free airline miles, we receive tempting offers from credit card companies everyday. How do we know whether to risk our credit history or stay with what we know? Here are a few things to consider.
One of the common questions we are asked is how to improve a credit report. While there are no quick fixes to credit that is less than perfect, there are things you can do to help it over time. This primer is meant to hit the highlights of building good credit.
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and your counselor will review your credit report, analyze your financial situation and help you find the option that's best for you.
