Credit Scores

When you have debt (or had it in the past) you’re usually very aware of what your credit score is. While having debt can hurt your credit score, there’s no reason to expect your score to be bad forever. In fact, if you get on track with your payments and start making progress toward becoming debt free, your score will improve quicker than you could imagine! The posts below will help you learn about the relationship between credit scores and debt.

5 Little-Known Ways Your Partner Can Ruin Your Credit

Planning to move in with your significant other or tie the knot in the near future? There are many exciting discussions to be had, but money matters may not be one of them. In fact, it’s the dreaded topic many couples prefer to stay away from. But doing so can have serious implications for your finances and your credit. Let’s take…

Credit Monitoring: Is It Worth It?

Are you considering a fee-based credit monitoring service? Makes perfect sense, considering the prevalence of identity theft in the U.S. alone. In 2014, 17.6 million U.S. residents experienced one or more incidents of identity theft, according to the Bureau of Justice Statistics. That’s 7 percent of the population age 16 and over! We’ve even witnessed several big-box retailers fall victim to security breaches. But…

6 Lies About Credit Cards You Actually Believe

When it comes to credit cards, I’ve heard it all. There are so many myths floating around about the magic plastic that you may be tempted to avoid them altogether. Even worse, a lack of knowledge could lead to irresponsible use that could haunt you for years. Unfortunately, I was a part of the latter group and it ended up…

The 3 Ways We Improved Our Credit Score in Less Than 3 Months

Your credit score is one of your most important financial numbers. Your credit score demonstrates to lenders how trustworthy of a client you are and determines what loans you ultimately qualify for. So if you have a bad credit score, it could negatively affect your finances and cost you dearly by subjecting you to higher interest rates and even disqualifying…

Credit Scores Galore: Dissecting All the Different Models

There’s so much to know about credit, but most consumers are only concerned about their three-digit score. And for a valid reason; the lower the score, the more difficult it is to qualify for the most competitive loan products.   We’ve seen many different credit monitoring services offer different types of scores, but how do you know which one to…

How Often Should You Check Your Credit Report?

From the moment you were approved for that first credit card, loan or line of credit, you’ve been making timely payments to keep the account in good standing. And you’ve also accelerated debt-repayment when your finances permitted you to do so. Now, you’re in the market for a new ride and plan to secure financing to make the purchase. It’s…

6 Reasons Why Avoiding Credit Is Costing You

As a teenager, I was repeatedly told that establishing credit and using it responsibly to build a high score was paramount to my long-term financial success. Too bad I completely ignored the latter part of that advice and found myself in a mountain of debt by the age of 21. And it’s around that time that I decided to complete…

Discover’s New Student Credit Card: Another Ploy or Way of Giving Back?

Everybody recognizes Discover as one of the more acknowledged trademarks in the financial services, as well as being one of the leading card issuers of the U.S. This past month, Discover announced their “Good Grades Reward Program” for students who sign up for their new student credit card. Students who sign up for this particular card will be rewarded with…