Below you'll find a list of all posts from August, 2020
What is a good credit score and why should you care? If you have ever asked these questions, you are not alone. This article explains what a good score is, why it is important to have one, and what you can do if yours is less than perfect. Many of our clients have a similar story—they were in the process …
YES! It is no surprise that in these tough economic times people are faced with the difficult task of credit repair. Many people have found themselves over-extended on their credit cards and have to repair some late payments and some bad decisions when it comes to credit history. Credit repair isn’t as difficult as many people might think, however , …
There are 5 factors that have the greatest impact on your credit score: 35 % – Payment History: Your record of bill paying says a lot about how responsible you are with credit. 30% – How much you owe: The score looks at the total amount owed on all accounts as well as how much you owe on different types …
In recent years, a simple 3-digit number has become critical to your financial life. This number, known as a credit score, was designed by FICO to predict the possibility that an individual or entity would not be able to repay outstanding debt. Credit scores are handy for lenders, but can have enormous repercussions for your wallet, your future, and …
Yes. The answer is unequivocally yes! In fact, sometimes all it takes is a single missed payment to knock more than 100 points off your credit score and label you as a “high-risk” borrower. Your credit score is a significant factor in determining what an individual or entity will pay for a mortgage, auto loan, credit cards, and insurance. …
Soft Pull vs. Hard Pull On a credit report, when a third party looks at your credit score, this is called an inquiry. All inquiries, however, are not created equal. Some hurt your credit score, and some do not. An inquiry known as a soft inquiry does not affect your credit report, but a hard pull does. Soft pull: …
How to read a credit report If you thought grades ended when you graduated from school, think again. As an adult, you still get graded on your use of credit, but instead of receiving an actual grade, you receive a credit score. Your credit report is easy to read once you understand its components. Personal Information Personal, identifying information …
