What Kind of Credit Do I Need to Qualify for an FHA Loan?

If you’re planning to buy a house, it’s possible that you can qualify for an FHA loan that will put you on the path to home ownership sooner than you think. The current low interest rates are a homebuyer’s dream – and with the housing market far from a full recovery, prices are attractive as…

The “Shopping Cart Trick” for Store Credit Cards

Having bad credit comes with more than a few downsides. But two of the biggest concerns are how to qualify for new credit accounts and how to fix your existing credit. There’s actually a simple strategy that, in many instances, can help you do both. It’s known as the “shopping cart trick,” or sometimes the…

How Much Will a Bad Credit Score Really Cost You?

More than half of all Americans have subprime credit, meaning the majority of people don’t have access to the best interest rates and loan terms available when they go to borrow money or open up a credit card. And regardless of whether you rely on credit every day or make an attempt to pay cash…

July 2017: New Credit Scoring Policy to Affect Millions

Beginning on July 1st, the three major credit bureaus, TransUnion, Experian and Equifax, will no longer report tax liens or civil judgments with incomplete information on individuals’ credit reports. These changes, brought on by pressure from consumer advocacy groups and government officials, are designed to improve the accuracy of your credit report and will affect…

Everything You Need to Know About Credit Builder Loans

If you’ve never had any credit before, or are recovering from bad credit, consider taking out a credit builder loan. This type of loan is specifically designed for people who may not qualify for traditional financing, such as a credit card or personal loan. There are a few restrictions that come along with a credit…

The Truth About Credit Repair

Having bad credit can cost you a lot of money. For example, did you know that a typical home can cost you between $50,000 and $100,000 more in interest if you are buying the home with bad credit? On average, you will end up paying about $1,500 to $5,000 more for a car if you…

How to Remove a Charge Off from Your Credit Report

What is a charge-off? A charge-off occurs when you are seriously delinquent in paying an account. Typically, an item is only listed as a charge-off on a credit report once it’s over 180 days late. In simple terms, when one occurs, your creditor lists the account as not being collectible. Creditors list bad debts owed…

How to Remove Credit Inquiries from Your Credit Report

What are inquiries and how do they affect my credit score? On your credit report, at the end of the report, you will notice a section called “Credit Inquiries.” These inquiries are made by companies that have checked your credit report, usually to judge your creditworthiness for a loan or credit card. Inquiries can stay…

The Best Credit Monitoring Services of 2017

According to data from the Federal Trade Commission (FTC), there were 332,646 identity theft complaints in 2014 – and a significant number of those complaints resulted in fraudulent credit card accounts and bogus charges. With large-scale data breaches becoming more and more common – the Experian/T-Mobile hack that exposed the records of 15 million T-Mobile…

How to Remove a Foreclosure from Your Credit Report

Despite reported upswings in the housing market, foreclosures continue to be a huge problem for residents of the US. In March of 2013 alone, 1 in every 859 homes in the US received a foreclosure filing. The RealtyTrac database lists over 1.4 million homes that are currently in foreclosure. That’s well over a million families…