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…
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…
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…
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…
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…
You have bad credit, big deal right? Bad credit can affect you in innumerable ways. Applying for credit cards results in the all too common denial screen, and lenders laugh at a request for a personal loan. When you have a bad credit report, not only will it be tough to get a loan or a credit card, even when…