How Long Does a Repossession Stay on Your Credit Report?
How long does a repossession stay on your credit is one of the most common questions people ask after losing a vehicle due to missed payments. A repossession can feel overwhelming, but understanding how long it affects your credit—and what you can do next—puts you back in control. In this guide, you’ll learn the exact […]
Credit Score Dropped 30 Points? Causes, Fixes, and Recovery
If your credit score dropped 30 points, it can feel alarming—especially if you haven’t missed a payment or taken on new debt. While a 30-point swing is noticeable, it’s also common and usually tied to a recent credit activity or reporting change. In this guide, you’ll learn exactly why it happens, how to pinpoint the […]
Closed Accounts Affect Credit Score: What You Need to Know
Closed accounts affect credit score more than many people realize, even when the account was paid off and closed in good standing. While closing an account doesn’t automatically ruin your credit, it can quietly lower your score by changing key factors like credit utilization and credit history length. In this guide, you’ll learn exactly how […]
Credit Resilience: How to Rebound from a Bad Credit Report
Discover tips on how to recover from a bad credit report and improve your credit resilience, making it easier to secure loans and financial deals.
How to Boost Your FICO and VantageScores
Learn the secrets to boosting your FICO and Vantage Scores for better credit opportunities, and unlock financial success in under 160 characters.
VantageScore vs FICO: Which Score Impacts Your Mortgage Approval?
In an era where credit scores are essential to secure loans, mortgages, or even lease apartments, understanding and managing your scores is crucial. Two of the most popular credit scoring models used to gauge your creditworthiness are the FICO score and the VantageScore. This article compares these models, their similarities and differences, and factors affecting […]
Video: Credit Score Mistakes to Avoid At All Costs
Some credit score mistakes can be real credit killers. You might not think that seemingly innocent actions can cause your FICO score to plunge, but that can certainly happen. Here are two horrible credit mistakes you want to avoid at all costs – unless you want to send your credit score heading south. Watch this […]
How to Increase Your Credit Score While Still in School
A reader of AskTheMoneyCoach.com wanted to know how to increase her credit score while she is still in school. She wrote me saying: “Hello, Lynnette. I’m a 60‑year‑old woman who has returned to school. I’ve taken out federal loans in the amount of $8,000. The loans have been deferred for as long as I remain in […]
3 Red Flags that Could Be on Your Credit Report
You know how important it is to check your credit report at least once per year, but do you know what to look for? Your credit report contains a lot of key information about your payment history, various credit accounts you’ve had, and how you’ve handled financial obligations such as credit card debts, mortgages, student […]
Will Debt Settlement Appear On My Credit Report?
Q: Hi, I have rec’d an offer of settlement from a collection agency representing CitiCard for about 18% of the current balance. When I asked to have the “line item” (delinquency) deleted from my record (credit report), the manager responded that: 1) it can’t be done; 2)maybe it could be done but only with a […]
What is a Credit Score?
A credit score is simply a three-digit number that summarizes your overall credit standing and tells creditors how likely you are to either repay a debt or default on it. A credit score is calculated based on the underlying information that is contained in your credit reports. But a credit score is not automatically included […]
Why Your Credit Report and Credit Score are as Financially Important as Your College Degree
If you went to college, no doubt you tracked your grades carefully throughout school. But if you’re currently a working professional, or are looking for a job, you now have another important report card to pay attention to: your credit rating. Simply put, having perfect credit is just as financially beneficial to you as is […]
Differences In Equifax, Experian and TransUnion Credit Reports
If you’ve ever pulled your credit files from Experian, Equifax and TransUnion – each of the three major credit bureaus- and tried to compare them, you know that certain information in your credit records likely to be different. But did you also realize that the manner in which the credit bureaus present your credit data […]
Fact Versus Fiction About Credit Scores
FICTION: If I check my credit report often, all those “inquiries” will lower my credit score.
Will a $50 Collection Account Hurt Your Credit Score?
When it comes to credit scores, even small debts can raise big questions. One common concern is whether a $50 collection account will damage your credit. Thanks to updates in scoring models like FICO 08, there’s good news for consumers, but also a few critical caveats. FICO 08 and Small Collection Accounts FICO 08, a […]