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Archive for the ‘Credit Scores’ Category

Car loans, mortgages, credit cards, and even your apartment rental application can only be approved when you have a solid credit history. If your credit score is deemed too low by lenders, landlords, and other companies that check your credit score as part of the application process, you could be missing out on low interest rates or be denied altogether.

Fortunately, there are some ways to work around a credit score that might be too low. Continue reading “What to Do If Your Credit Score is Too Low” »

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• YOUR REFUND IS YOUR DOWN PAYMENT

Going through a divorce will take its toll on your emotional and financial well-being. But did you know that it can also affect your credit score?

When you’re thinking about getting a divorce, or already going through divorce, worrying about your credit score is probably low on the priority list but it’s not something you should ignore entirely.

In these difficult times where your credit score dictates everything from where and if you will be able to rent, to how much interest you will pay on a car loan, and what your auto insurance rates will be for the year, it’s still important to think about ways you can minimize the impact of divorce on your credit score.

When you are going through a divorce, you want to be able to start your life over with the odds stacked in your favor.

Here are five tips for protecting your credit score before and after you file for divorce:

Continue reading “5 Tips to Protect Your Credit Score During a Divorce” »

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Want to improve your FICO credit score? Follow these tips.

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Q: If you were to hit  a high default interest rate on a 0% interest intro credit card; will it place a negative mark down on your credit report?

A: If I understand your question, you had a credit card with a teaser rate of 0%, but then were late on a payment and it went to a default rate. Those default interest rates typically range from 25% to 30% or so.

Even though you were late on your payment, it will not necessarily be reported to the credit bureaus. It depends on how late the payment was received. Banks and credit card issuers can legally report your delinquency if it is 30 days or more late. But if you were just a day or two late, or even a week or two, that will not show up on your credit reports.

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