Newest Answers

How to Enjoy the Holidays Without Going Deeper in Debt

December 19th, 2014 | Author:

[O]ne of the biggest factors in your credit score is how much of your credit limit is being used. If you max out your credit cards during the holidays every year for gifts, you are hurting your credit score. Even if you spend the other 10 or 11 months paying it off, this problem becomes...Continue Reading »

Preparing for a Credit Check

December 18th, 2014 | Author:

[Y]ou want to buy a car or your first home. You already know that the lender is going to check your credit. How do you prepare for that situation before it happens? Get a Free Copy of Your Credit Report The first thing to do is to get a free copy of your credit report....Continue Reading »

What Should You Do If You Don’t Have a Credit Score?

December 17th, 2014 | Author:

You hear so much about bad credit scores and how they can hurt you when you go to apply for a home loan or car loan. What about if you don’t have a credit score at all? You may have heard it said that no credit is worse than bad credit, but is it true?...Continue Reading »

Develop Good Credit Card Habits to Have a Good Credit Score

December 16th, 2014 | Author:

[I]t’s a catch-22 for many people. You can’t get good credit without a credit card, but carry a high balance and it will hurt your credit. While this is a narrow view on how credit and credit cards function, it does provide a succinct statement on how credit and credit cards work together. The key...Continue Reading »

Are You Doomed to Have Bad Credit Forever?

December 15th, 2014 | Author:

[M]iss one payment by 30 days and watch your credit score sink like a rock. Work hard to pay your bills on time from that time forward and it seems like your score creeps back up. If you have multiple negative accounts from the past on your record, it only compounds the problem. It may...Continue Reading »

Why Credit Card Debt is Good for the Economy and Bad For You

December 12th, 2014 | Author:

[A]ccording to a new report from Equifax, credit card debt has increased in the second quarter of 2014 compared to the same time in 2013. This is good news for the economy because many credit experts say that increased levels of debt indicate improved consumer confidence. More Debt Than Savings Another survey conducted by Bankrate...Continue Reading »

When Accounts are Removed From a Credit Report

December 11th, 2014 | Author:

[I]f you check your credit report occasionally and compare it to previous ones, you may notice that some accounts are no longer reported. Why does this happen and does it really matter to your credit score? There are various reasons that an account could fall off of a credit report. Sometimes it is a good...Continue Reading »

What are the Best Ways for 20-somethings’ To Build Credit?

December 10th, 2014 | Author:

[W]hen you just graduate college and are starting out on an entry-level salary, it can be difficult to get a car, house or even rent an apartment. If you haven’t already established your own credit, you will have a limited history that makes you a higher risk to lenders and creditors. How can you build...Continue Reading »

How Long Does It Take To Get a Good Credit Score?

December 9th, 2014 | Author:

[W]hen you look at all of the factors that affect your credit score, you may not focus on the age of your credit history. After all, it doesn’t carry as much weight as your payment history or debt utilization. However, it is an important aspect to consider and one that only improves over time if...Continue Reading »

Credit Card Surprises That Could Ruin Your Credit

December 8th, 2014 | Author:

[C]redit cards are often some of the culprits that harm a person’s credit score. The cards themselves are not to blame, but some of the surprises that they bring may end up hurting your credit. Fees and Charges If you pay a couple of days late, it won’t show up late on your credit report....Continue Reading »

Can a Credit Card Payment Plan Hurt Your Credit Score?

December 5th, 2014 | Author:

[I]t sounds like the perfect plan. You have more debt than you can handle and the creditors are willing to work with you a payment plan. Before you agree to the terms, there are some things you should know. Different Companies, Different Methods Each creditor has its own way of handling hardship payment plans. They...Continue Reading »