Newest Answers

FICO Score Up to 692 for National Average

October 20th, 2014 | Author:
h

[T]he average FICO score went up back in April of 2014 to 692. While it falls in the range of average credit, it is on the high end. Prior to the recession, the average score was 690. Increased Responsibility Two major factors are being attributed for the jump. First, people are being more responsible with...Continue Reading »

Could Congress Help You Get a Better Credit Score?

October 17th, 2014 | Author:
h

[H]ave you ever lamented over past mistakes that just won’t go away? You made poor decisions in the past or an unfortunate situation happened and you are paying for it years later. Legislation that is being proposed to Congress may change things for people with lower credit scores. In this legislation, changes would be made...Continue Reading »

Can You Get Fired for Bad Credit?

October 16th, 2014 | Author:
h

[M]ore employers are checking credit reports as part of the hiring process. While this is controversial for many people, it is becoming standard procedure in many jobs. The result is that you may not get hired if you have bad credit. What you might not know is that you can also get fired for having...Continue Reading »

When Saving Money Hurts Your Credit

October 15th, 2014 | Author:
h

[O]ne of the most basic financial lessons to learn is the importance of saving money. You may be taught by parents or grandparents from an early age to save your money. You hear about it in money classes and even in credit counseling. Read numerous articles on saving money and you will find all kinds...Continue Reading »

What Causes Errors in Your Credit Report?

October 14th, 2014 | Author:
h

[T]he first time you look at your credit report, you may be surprised at the information that is listed. If you request reports from two or all three of the major credit reporting agencies, you may notice that the information looks different from one to another. How can the balance on a credit card be...Continue Reading »

Is Renting to Own a Good Option If You Have a Bad Credit Score?

October 13th, 2014 | Author:
h

[O]ne of the big dreams for many people is to buy their own homes. If you have bad credit, this can be a challenge. You may have to save up money to pay off old debts to improve your credit score and then save more money for a down payment. If you’ve heard about rent...Continue Reading »

How Your Credit Score Impacts How Much House You Can Buy

October 10th, 2014 | Author:
h

[W]hen people start looking to buy a home, they often look at their credit scores. They know it is difficult to buy a home with a score below 640. Anything under 600 and it is all but impossible. With the recent changes in some lending practices, a few lenders have loosened up their lending guidelines...Continue Reading »

How to Keep Medical Bills from Hurting Your Credit Score

October 9th, 2014 | Author:
h

One of the big factors for lowering the credit score for many people is medical collections. Even people who are normally responsible for debt and pay their bills on time can get caught up with issues surrounding large medical payments. While they are not the most accurate indicator of how people handle credit, medical collections...Continue Reading »

Does Your Credit Score Matter If You Move to Another Country?

October 8th, 2014 | Author:
h

[Y]ou know that moving to another state doesn’t change anything on your credit report but your address. But what if you moved to another country? Will a good credit score get you great interest rates to buy that vacation home in another country? Can you escape a bad credit score by moving overseas? While many...Continue Reading »

Settling a Debt for Less Than You Owe

October 7th, 2014 | Author:
h

[I]f you have multiple debt collections on your record, you may wonder how you will ever pay them. The totals could amount to thousands. It may seem hopeless, especially if you live from paycheck to paycheck or barely have any extra to put in savings. One option is to talk to your creditors about settling...Continue Reading »

How Your Career Can Affect Your Credit Score

October 6th, 2014 | Author:
h

[O]ne of the common questions that people ask about their credit scores is if their job has any impact. Directly, no. But indirectly, it can have a big impact and in several ways. Job History Doesn't Change Your Credit Score Your job history or the fact that you have changed careers does not impact your...Continue Reading »