When managing your credit, you may not realize that some factors matter more than others, or, like most consumers, you may not know that there are factors involved at all. Most of us think that if we pay our bills on time that we have a handle on our credit, but this is not the […]
10 Steps To Strong Credit Reports & Scores: Part One – Set Your Score Goal
In an economy riddled with increased expenses and stringent credit standards, the businesses and households that will successfully navigate through the economic hailstorm will do so because their credit scores will get them access to credit and cash, empowering them to forge ahead and capture opportunity while those around them fold. Great fortunes are made […]
Where Do Credit Reports Come From?
Although credit scoring has been around since the 1950s, it wasn’t until the 1980s that it hit mainstream in the United States. Before that, lenders would use human judgment and personal opinion when evaluating a credit report to make a decision on an applicant’s ability to repay debt. Not only was this a very slow […]
Fact Sheet: 15 Reasons Why Your Score Is Low
Your credit score can be confusing. How do you know whether or not you have “good” credit or “bad” credit? It will benefit you to learn what influences your credit score, and what you can do to improve it. Why It Matters Your credit score is one of the most important tools creditors use to […]
Credit Myths That Put Your Score At Risk
It seems everywhere you look, some program or Web site offers credit fixes, offers and deals that make it seem so easy to consolidate debt or, worse, get “easy credit” to buy the things you need. They offer “free credit analysis”-many of which will most likely lead you down a path of credit destruction. Most […]
It’s Never Too Late To Improve Your Credit
Many of my clients come to me for assistance in helping them clean up damaged credit scores even though they already own a home. They know that improving their credit scores will save them money on many things such as car insurance, automotive loans, or any other type of loan. The goal is to secure […]
Credit Tip: How Do Inquiries Affect My Credit Score?
Question How do inquiries affect my credit score? Answer There are two types of credit inquiries. Hard Inquiries and Soft Inquiries. Only Hard Inquiries impact your credit scores negatively, and depending on the condition of your credit at the time the inquiry hits your reports, you can lose anywhere from 2-25+ points. The good news […]
Credit Tip: What Are My Rights When It Comes To Debt Collectors?
Question What are my rights when it comes to debt collectors? Answer A debt collector may not use threats of violence or harm, use obscene or profane language; or repeatedly use the telephone to annoy someone, falsely imply that they are attorneys or government representatives; falsely imply that you have committed a crime; falsely represent […]
Just A Reminder – Changes in Credit Scoring and Reporting and How They Affect You
While the roots of the modern credit report can be traced all the way back to 1898, the numerical credit score wasn’t devised until the 1950s and didn’t become a major part of the American financial system until the last twenty years. In 1956, Bill Fair and Earl Isaac devised analytical tools that attempted to […]
Credit Scores: Understanding the Basics
Good credit is imperative because it is your golden ticket to financial freedom for right NOW and it prepares the foundation for financial security LATER. Isn’t that what we all seek? In planning for tomorrow by improving your situation today, you can eliminate the risk of limited financial security for your retirement years. You don’t […]
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