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•More Credit Score Myths
Most of us don't understand or know what makes up our credit score. Your credit score is the most important piece of information in your financial life. Landlords, lenders, insurance companies, electric companies and potential employers all have your credit score under the microscope.
With that being said, you should probably check your credit scores on a regular basis. Check it for errors, potential identity theft and improve your scores over time. The secret to a better credit score is to...
•Hidden Credit Scores that Affect Your Life
Before you ever receive that solicitation letter from a credit card company urging you to request their card, they've been checking you out.
Naturally, they check your standard credit scores. They do want new customers who are most likely to pay their bills each month. But they don't stop there. Sometimes even people who are currently paying their bills turn to bankruptcy as a way to stop.
Thus, they'll check your bankruptcy scores. Equifax offers a score called the bankruptcy navigator...
•When should you check your credit report
? When you are preparing to make a major purchase such as a home or auto loan you should check your credit report. Your credit score is one of the most important factors lenders use in determining whether or not you get a loan. Credit scores also determine what interest rate you will get. The higher the credit score the better off you will be.
Nonetheless, if you are planning a major purchase, you should check your credit report and credit scores several months before. Make sure the...
•You Need Credit Scores With a Credit Report
I recently logged on to annualcreditreport.com to get my once a year free credit report but to my surprise there were no credit scores. In case you didn't know, everyone is entitled to their free credit report once every twelve months at http://www.annualcreditreport.com/. If you too have been there then you know that your credit report did not come with your credit scores. Just about everyone these days is looking at your credit so shouldn't you know what they are? This magical three digit...
•Periodically Checking Your Credit Score Can Save You Big Money
Your credit score changes every thirty days therefore you should periodically check it to ensure accuracy. Each one of your creditors reports your monthly pay habits and fluctuations in the amounts you owe them. Since creditors report any changes with your credit report every 30 days, you should probably check your credit once quarterly. We've heard some people say to check it monthly but feel that is a bit obsessive compulsive.
You are probably thinking why in the world would I want to...
•Rapid Rescore can provide a quick fix for low Credit Scores
When shopping for a home loan, your credit score is the first and also the most important factor that is considered by lenders when evaluating a loan application. Credit score requirements for many types of mortgages have increased substantially over the last year. And having a credit score that's less than excellent can lead to a higher interest rate for many types of loans, not just mortgages.
So what happens if you find yourself in a situation where your credit score is either too low to...
•More Myths About Credit Scores
The financial crisis has underscored the need to maintain a good credit score and also know what factors have the most effect on the score. Since there is a variety of information about credit scoring, you have to know what information you're getting is actually coming from experts that are well educated and informed on how credit scoring works. Quite often, misinformation is circulated, just like urban legends about anything else. What's especially alarming is that much of this information is...
•Teens Begin Adulthood With Great Credit
Starting out in life with a good credit score will open doors for you that you can't even imagine. You'll get better jobs, live in better places, drive better cars, and best of all - the things you want will cost you far less than your poor credit friends will pay.
Why? Because when you buy on credit - such as a house or a car - you'll pay a lower interest rate than a person with poor credit.
A good credit score comes as a result of good money management, so here are some ways to get started...
•What is a FICO score anyway
? Realtors and lenders are almost as bad as computer tech people at tossing out words and phrases you don't understand. The funny part is, sometimes even they don't know what those words really mean.
FICO is one of them. It's not really a word, but the initials that identify the score given to your credit rating. A few Realtors and a few lenders have some idea of how those scores are reached, but they probably can't tell you what the letters stand for.
Nothing. They're just the initials of...
•Teach your kids about sound money management
All good education begins at home, and that definitely includes education in money management. If your kids learn well, they'll reach adulthood with the ability to buy a home and begin building financial equity throughout their lives. You may have to help them get that first line of credit, because they'll have no financial history to show lenders, but from there they'll have a beautiful credit score and clear sailing.
It's a shame that schools don't include this subject, because it would...
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