Category

Credit Score

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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How Does My Credit Score Affect New Purchases?

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

Trying to borrow with bad credit? Not so fast. Many Americans are asking questions like, what is a good credit score or how to rebuild a credit score? Chances are if you’re asking these questions, your credit score could use some work. According to Lexington Law; 12% of the U.S. population has a credit score below 550. This group of…

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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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