Writing allows for a certain amount of anonymity and that in turn affords me the opportunity to divulge all of my financial mishandlings to you. I’m sure I won’t let you in on some of the bigger blunders but I have no shame in telling you that last week, I bounced a check. Ok, maybe [...]
Credit scores are the numerical means that a credit-reporting agency uses to determine the credit worthiness of a particular person. There are various terms used to refer to a credit score, including a Beacon score. Many people don’t ever know their score until they apply for credit, and even then, they don’t know what it [...]
There are a variety of factors a credit agency considers when determining your credit score. While the exact algorithms and computations are closely guarded by agencies, the basic formula is fairly well known.
The most important single factor in determining a credit score is a person’s payment history. Thirty-five percent (35%) of the determination is [...]
If you have put in the hard effort it requires having a solid, high credit score, then use that score to save money whenever possible.
The most obvious and immediate advantage to those with a high credit score is that they can receive favorable loan terms, especially for cars and homes.
When you are ready [...]
There are two types of inquiries that a bank, credit card company, or other potential loan originator can make on your credit score.
These are called either a “soft hit” (“soft inquiry,” “soft pull” or “soft credit check” are synonymous terms) or a “hard hit.” (again, “hard inquiry,” “hard pull,” and “hard credit check” mean [...]
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