Improve your credit score, manage debt, and understand how credit works. From credit card usage to debt consolidation and credit repair tips, this section gives you tools to strengthen your financial foundation and regain control of your money.
For years, landlords have used consumer credit reports as a way to screen tenants. But, those same tenants haven’t benefitted from the timely payment of their rent, at least not where their credit is concerned. On the contrary, an unpaid balance would wind up on your credit report, affecting your ability to rent again or … Read more
Your credit report includes a record of every business that’s checked it within the past two years. These credit inquiries, typically made when you make an application that requires a review of your credit report, make up 10% of your credit score. Too many credit inquiries can cause your credit score to drop and lead … Read more
It’s a widespread myth that you have to carry a credit card balance to build a good credit score. In reality, the opposite is true. Carrying big balances on your credit card could actually hurt your credit score. How Credit Scores Work Credit scores are calculated based on five key factors and some carry more … Read more
Credit reports play a big part in your financial life, but they’re still a mystery to many people. Here’s a complication of some basic things you should know about credit reporting. There are more than three credit reporting agencies. While Equifax, Experian, and TransUnion are the most mentioned (and largest) credit reporting agencies (better known … Read more
Experts say that you should check your credit report at least once a year. Do you know what you’re looking for when you check yours? Your credit report won’t read like an epic novel, especially if you’ve had numerous accounts over several years. Reading your credit report might confusing at first and possibly a little … Read more
Not every debt collector who contacts you is contacting you about a real debt. Even though it’s against the law, debt collectors have been pursuing so-called phantom debts for years. These are debts that are completely fabricated with the intent of scamming consumers out of money. Surprisingly, collectors have been good enough to convince consumers … Read more
A phone call or letter is often the first sign that you have an account with a collection agency. These bills collectors don’t go away easily and some of them have been known to cross the line to get consumers to pay up. How Debt Collections Happen As an adult, you probably have several accounts … Read more
As presidential campaigns get more aggressive, don’t be surprised if you’re asked to make a credit card donation to help fund your party’s candidate. Technology has made it easy for campaign workers to take donations on the spot by swiping your credit card through a small device attached to a smart phone. Campaign season isn’t … Read more
Credit bureaus, also called credit reporting agencies, are big businesses in the credit industry. They play a major role in your financial life, so it’s important that you know who they are and what they do. Credit bureaus collect credit data about consumers and, upon request, compile the information in a document called a credit … Read more
Letter writing has become a little outdated thanks to email, text messages, and social media. But, writing a letter is sometimes the best way to deal with issues with creditors and other credit businesses. In fact, certain laws require you to communicate problems in writing for the creditor (or credit bureau or debt collector) to … Read more
