Credit Myth: Carrying A Balance Is Best
One of the most common credit myths that I have heard is that you have to carry a balance on your credit cards in order to have a high credit score. While that is a credit myth, there is a small kernel...
View ArticleWill Financing a Car Really Help Your Credit?
Financing a car can indeed help your credit score, provided that you make all of your monthly payments on time. Just how much it will boost your score is difficult to estimate, as it depends on your...
View ArticleThe Heartbleed Bug – How to Protect Yourself from Credit Damage
The Heartbleed Bug has been garnering many of the recent headlines. The hack was so clever that some estimate it could have been in place for years. With such sweeping access to the world’s log-in and...
View ArticleHow Your Credit Score Affects a Car Loan
Just before I sat down to write this post today, I was shopping online for a different car. Nothing new, but a three year old car would be nice. I have driven my 22 year old Caddy to the brink of...
View ArticleWhat Does “Pay for Delete” Mean?
What does pay for delete mean? That is a great question. Simply answered, pay for delete means you offer a debt collector immediate payment on the condition that they have the account deleted from your...
View ArticleFacebook Farcing! The Latest Trend in Identity Theft
Have you ever gotten a Facebook friend request from someone you don’t remember meeting? Did you accept it? The large majority of people will accept friend requests even if they are not sure they know...
View ArticleFinancial Awareness and Stricter Lending Guidelines Increasing FICO Scores
Credit scores are improving for Americans recovering from the 2008-2012 recession. As of April of 2014, the average FICO score was 692. This is six points higher than 686 in 2009. Put in perspective,...
View ArticleHow Long it Really Takes to Boost Credit
If you are like many Americans, you may want to improve your credit score in order to get a mortgage, obtain an auto loan, or just to save money on your insurance premiums. Admittedly, there are ways...
View ArticleDoes Consolidation Ruin Your Credit?
Debt consolidation does not ruin your credit. It many instances, it will improve a person’s credit. Any hits to your credit will come if you were behind on the payments for the debts that you are...
View ArticleHow Does Credit Counseling Affect Your Credit?
Credit counseling usually consists of two stages: advice and action. During the advice stage, credit counseling will not affect your credit; however, during the action phase, the plan that you enact...
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