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Consumer Credit News

How long will paying minimum monthly payments really cost me?

By | Credit Cards, Credit Score, FICO, financial advice, Interest Rates, Unsecured Debt | No Comments

I’ll pay more next month… When creating a budget, you’re told to keep your expenses as low as you possibly can, and it’s good advice. Unless of course you’re making credit card payments. Most people are tempted to make the minimum monthly payment on their credit card in an effort to offset other bills. In the long run this is…

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Should You Ever Co-Sign on a Loan?

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

To co-sign or not, that is the question. It can be tough to get approval for loans or credit cards for someone who doesn’t have a good credit history. However, businesses still approve such applicants if  someone with good credit agrees to co-sign for them. If your loved ones ask you to co-sign and you agree to help, they will…

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How is your FICO score calculated?

How is my FICO score calculated?

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

What is a FICO score? Your FICO (Fair, Isaac and Company) score is your credit score that is calculated with exclusive formulas and algorithms using the data from your credit report. If you are wondering “how is your credit score determined?” Then have a look at the factors that contribute to your FICO score below: How is Your FICO Score…

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