Monthly Archives

April 2019

Different credit score between three major bureaus

Why is my credit score different at all three reporting bureaus?

By | Consumer Knowledge, Credit Score, FICO, Interest Rates, Rebuilding Credit | No Comments

It’s bad enough to worry about ONE credit score. There’s a three digit number that matters greatly to your financial well-being. This number can make or break a big financial decision, or be the reason for hefty deposits. If you haven’t figured it out by now, we’re talking about your credit score. First of all, your credit scores being different…

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How to prioritize your debt payments

How to prioritize your debt, the smart way

By | Consumer Knowledge, Credit Score, FICO, Interest Rates, Unsecured Debt | No Comments

So you have student loan, and credit card debt. How to prioritize your debt. Debts of any kind have to be paid under the set terms in order to maintain your credit score. Unfortunately, the terms of the multiple loans don’t care much about each-other, or your wallet. Now, to prioritize your debt debts, you have to understand the types…

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What is negative equity? How does it affect my credit and buying power?

By | Bad Credit, Consumer Knowledge, Credit Cards, Credit Score, FICO, financial advice, Interest Rates, Rebuilding Credit | No Comments

If you’ve ever applied for a loan, chances are you’re familiar with the term “negative equity”. However, you may still lack a full understanding of exactly what it means. Secured loans are basically loans that use physical collateral to calculate the amount and terms of the debt repayment. Secured loans with negative equity An example of a secured loan would…

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Once I pay off a past debt, how long until my credit updates?

By | Consumer Knowledge, Credit Score, FICO, financial advice, Interest Rates, Rebuilding Credit | No Comments

You pay off a past debt, now you want the reward! Many people ask about the time it takes for their credit report to update once they pay off a past debt. If you’re anything like me, you wait a few weeks and then start checking to see if the derogatory mark has dropped. It can never happen soon enough;…

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What is rent to own, and does it affect my credit?

By | Bad Credit, Consumer Knowledge, Credit Score, FICO, financial advice, Rebuilding Credit | No Comments

Rent to own – Let’s start with the basics. If you are planning to buy a home but your income leaves something to be desired, don’t despair. There are certain ways you can still own a home, though they’re not as straightforward and conventional as a traditional mortgage. Rent to own, which is also known as lease to own, permits…

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Is transferring my credit card balance for a better interest rate a good idea?

By | Consumer Knowledge, Credit Cards, Credit Score, financial advice, Interest Rates | No Comments

An introduction to credit card balance transfer. The average credit card debt in the U.S. is $5,331 on an individual level. But, if you’re new to the credit game, you’re not likely part of this statistic. For those of us that have been building and maintaining credit for a while now, we know there are some common techniques to keep…

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Simple Ways to Improve Your Credit Score

By | Consumer Knowledge, Credit Cards, Credit Score, financial advice, Rebuilding Credit | One Comment

Get to know your credit. In fact, become best friends. Whether you’re looking to improve your credit score, or building it from scratch, we’ve got some tips for you. Building and maintaining good credit is no easy task, but often times consumers are overwhelmed by the information they encounter online. A low credit score is not the end of the…

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What does No Credit Needed really mean?

By | Bad Credit, Consumer Knowledge, Credit Score, financial advice, Interest Rates | No Comments

Does your credit score prevent you from getting retail store credit cards? You know the story: You visit a store, find exactly what you’re looking for, and immediately sign up for a store credit card. Later you find out that agreement came with a snag: an astronomical interest rate. Most of the retailer stores offering credit cards will cost you…

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What is Debt to Income Ratio and How Does it Affect my Credit Score?

By | Consumer Knowledge, Credit Cards, Credit Score, FICO, financial advice, Interest Rates | No Comments

I’m good at making money, even better at spending it. Debt to income (DTI) ratio confuses a lot of people. Unfortunately, these people are often the ones in need of some kind of financial assistance. Many consumers aren’t aware of the simple calculation they can do to find their DTI, or the affect it has on their buying power. As…

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