Public Records on a Credit Report: All You Need to Know A public record on a credit report can have a more deteriorating effect on credit score than many missed or late payments. In fact, public record information, such as bankruptcy, can remain on a credit report for 7 to an indefinite number…
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Looking for a Home Mortgage? You Need to Fix Your Credit Score First Credit Score is one of the major factors that lenders consider when assessing a mortgage application. If you are looking for a home mortgage, your three digits credit score will be a key factor that determines whether your loan application will get…
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The Impact of “Social Media” on Your Creditworthiness The next time you update your status on a social networking website, be extra careful. Sharing a casual update about your fun weekend on social media may have a direct impact on your credit score. In a move that disgruntled a large number of Americans, the Fair…
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Exploring the Nexus between Foreclosures and Credit Score Foreclosure has become a harsh reality for millions of Americans, with many still struggling to reverse the damage it caused to their credit score. That explains the increasing number of people seeking “fix my credit” solutions. A foreclosure, on an average, drops the defaulter’s credit score by…
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4 Credit Score Boosting Tips for Students Students generally think FICO scores are primarily important for adults, who have to deal with mortgages, auto loans, high monthly credit card bills, and other such financial perils. Ignoring your credit score is a big mistake, as this three digit number may turn out to be more important…
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Wondering How to Fix Your Credit and Impress Lenders? Here’s How Many borrowers believe that a credit report without any mention of bankruptcy, late payment, charge-off or high balance is enough to help an individual get through the stressful loan process. Many borrowers, however, are unaware of the presence of red flags in the credit…
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Paying “Minimum Amount” on Your Credit Cards? Think Again! Contrary to common notion, paying the “minimum amount” due on the credit card every month doesn’t help in clearing off debt. Many people live under the myth that a small amount paid every month is enough to keep them in the good books of lenders and…
DetailsSomeone Stole My Credit Card. Could It Affect My Credit Score? A lost or stolen credit card doesn’t affect your credit score provided you take remedial measures on time. The market is rife with certain misconceptions about what happens to your credit score when the lost credit card is replaced with a new one. The…
DetailsCan Applying for Loan Lower My Credit Score? A loan is a process in which one party (lender) agrees to lend money to another party (borrower) in exchange for a promise to repay the amount in future. Not many borrowers are aware of the fact that a loan can have negative as well as positive…
DetailsCredit Repair: 3 Instances When Taking a hit on Credit Score is OK One topic that we often discuss in the field of finance is credit score. More often than not, people are reluctant to make any kind of move that affects their FICO score. They are scared to death of damaging their credit scores.…
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