A credit score is a 3-digit number based on your credit history. Credit scores summarize how well you handle debt. Credit scores also help lenders assess the risk they would be taking by extending you credit. Higher credit scores typically help you qualify for better rates from lenders – which can save you money!
Taking action is the only way you can raise credit scores and sometimes the actions are really simple. Consumers with credit scores ranging from 720 to 850 are prime candidates to qualify for the lowest interest rates.
Not every U.S. consumer has a credit score. There are several simple actions you can take when you have no credit score and no credit history to have a score within 6 months.
For most consumers one inquiry can take 5 points or less off a credit score but that number can increase if you have few accounts or a short credit history.
New FICO® 10 Scoring Formula may cause a 20 point decrease in over 40 million consumer credit scores. Here is what you can do to prevent a drop in your credit scores.
Payment history is the biggest contributing factor to your credit score. One missed payment can drop a score up to 110 points. Tips to earn the maximum score points in this category.
Because late payments wreak havoc on your credit scores and payment history is the largest factor in credit scores, it’s vital to take action immediately. Take a look at these strategies that can help remove late payments.
A 600 Credit Score means you’ll have a difficult time renting an apartment, getting a mortgage, personal or car loan, opening credit cards and even getting a cell phone contract. These 5 simple ways to raise credit score 100 points can get you to a 700 or higher credit score.
5 Top Facts About Your Credit Score: Lack of knowledge about your credit score can hurt your finances. It’s not necessarily your fault but once you’re aware it’s important to adjust your habits.
It is not a big mystery that some financial activity will drop your credit score more than other activity but you may be surprised at what hurts your credit score.
Cell phone payments, utility bills, cable bills, and now Netflix payments can be added to your Experian credit report and boost to credit scores.