Posts Tagged ‘credit score’

A few weeks ago I ran into an old friend. While we caught each other up on what had been happening since we last saw one another, he asked what I did. This question led to his sharing credit-score issues he's grappling with, specifically how to maintain and keep his score high and avoid the fluctuations many of us experience when we monitor our reports. Around ... Full story

Gone are the days of "Stated Income" and "No Doc" mortgage loans. Subprime loans, Alt A loans and the exotic mortgages programs developed for borrower's with tarnished credit, or borrower's who couldn't document income and assets are extinct. We are now in a credit world that has gone 'Back to Basics'. How does this compare to a year ago, and how does a borrower determine ... Full story

If today is the first of the month, pay your rent!That is a reminder you should take to heart for many reasons, because paying your rent on time can have many benefits besides hanging onto your warm place to sleep this winter.   Payment Reporting Builds Credit (PRBC), an innovative national credit bureau, has been paving the way for individuals with no credit score or “not enough ... Full story

Credit scores have traditionally been used to determine the creditworthiness of applicants for financing. Lenders routinely use scores to establish the likelihood that payments will be made on time and that loans will be repaid in their entirety. In an increasing and controversial trend in the automobile, home, and other insurance-related products, major agencies are using the credit scores of their clients to establish policy ... Full story

Tanisha only wanted to rent an apartment for herself and her two children. Little did she know that a history of not paying her utility and credit card bills  would make her search so difficult, ultimately forcing Tanisha to live in a much less desirable neighborhood. Jonathan had everything going for him at an interview with a prestigious insurance company. References, his degree, and a couple ... Full story

y Thom Fox It’s important to realize that if your credit score is poor, it won’t necessarily remain that way forever. Credit reports and scores are very time-sensitive items, and they merely represent a snapshot of your credit profile at any given point in time. Your score from three months ago is probably not the same score a lender would get from the credit reporting agencies ... Full story

by Thom Fox Lenders review a variety of information whenever they need to decide whether a consumer loan applicant represents an acceptable level of risk. In this process, lenders review one or more credit scores. A credit score is typically a three-digit number that tells a lender how likely an individual is to repay a loan, and whether that person’s payments will be made on time.  FICO ... Full story

Credit limits, credit card balances, annual percentage rates, late fees, over-limit fees, penalty rates and more!  There is so much you need to be aware of as a credit card holder. Credit cards have become a necessity in today's technology-driven economy.  A credit card is a convenient payment method accepted almost everywhere.  It allows you to receive valuable rebates, earn free merchandise and services, and take ... Full story

When you’re developing a long-term strategy to improve your credit, you need to focus on two main areas Full story

Recently I read a great article called "Beyond the 6 Myths of Credit" in Scotsman Guide by Jeff Lau. I thought it would be good to share this information, because many of the myths are common mistakes we financially naïve folks make. Credit scoring and the credit world are mysteries to most of us, and everyone has an opinion about how to fix bad credit, what ... Full story