In the United States, a good credit score can be just as important as your social security number or money in your bank account. Your credit score is not just a number, it is an important factor of your financial health. In this article, we will discuss what is a good credit score, and some …
It is important to have good credit. It opens up avenues for lesser interests and it affects future loan approvals for larger purchases. Therefore, although having a bigger credit limit is better, here is what you must know for building your credit in the right manner. Two factors decide if a rise in credit limit …
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Your FICO score is a 3-digit number that you receive based on your credit report. The number helps the lenders in deciding the possibility of you returning a loan. It also affects the amount you can borrow, the number of months you get for repayment, and how much this loan is going to cost in …
Have you heard about the snowball method of debt repayment? This system requires you to first place as much income as possible towards paying off your smallest debt. You’ll continue to make minimum payments on other debts. Once you’ve paid off one debt, you start working on your next smallest debt until everything is paid …
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When you stop the payments on your credit card, you can pretty much expect a poor credit score, charging of late fees, and increased interest. If you are facing some unexpected circumstances such as heavy medical bills or unemployment and you are faced with more debt than you are capable of repaying, it will be …
Continue reading “Implications Of Stopping Your Credit Card Payments”
There is no need for the late payments to be a part of your credit report forever. It is possible to get rid of the late payment records from your credit report. The entries of late payments on the credit report are not good for your credit health. These entries indicate lower financial integrity and …
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In the United States, credit is one of the most important factors when it comes to your personal finances. Did you know that your credit score can even impact your ability to rent a home or condo? Credit scores can range from a low of 350 all the way to a high of 850. In …
Debt consolidation is also termed credit consolidation and it is a method for merging several debts into one lower-interest debt. This is many times done when you have incurred several high-interest debts such as credit card bills and personal loans. Debt consolidation will lower the monthly payments partially by raising the time for repayment. It …
Not every country has a credit score rating for its citizens, but the United States does. In the United States, having a good credit score can be just as important as having cash in the bank. Your credit score is one of the most important factors when it comes to getting loans, rental agreement leases, …
Continue reading “What Are Factors That Can Hurt My Credit Score?”
Improving your credit score and maintaining financial freedom after filing bankruptcy is possible. You need to take a few steps after filing bankruptcy. Your credit score is bound to be at its lowest if you had filed for bankruptcy recently. While taking such steps, some debts remain unpaid or partially repaid. Thus, such occurrence directly …
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