Understanding the factors that affect credit score and how to manipulate them will get you the best possible rate on your next loan. The market for credit repair services brings in over $4 billion a year and 80% of Americans have been denied a loan at some point because of their credit score. It’s obvious there’s big business around understanding credit scores and knowing which factors most … [Read more...]
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How Long Does It Take to Build Credit? [Case Study]
How long it takes to build a credit score depends on where you start but here’s some FICO tips to get you started. Everyone needs good credit. Whether you’re planning on getting a loan or not, your credit score will affect more than you know in your life. From emergency loans to renting a house, getting a job and even the premiums you pay on car insurance…your credit score can either help you … [Read more...]
How Your 640 Credit Score is Holding You Back
How long does it take to repair a 640 credit score and what kind of interest rates can you expect? We’ve been talking a lot about specific credit scores lately, how many people have a certain FICO score and what is good credit. A 640 credit score is one of those scores that seems to catch a lot of people. I don’t know if the FICO system gets stuck around 640 or if it’s just an easy, even … [Read more...]
What is a Good Credit Score and What Does it Mean?
Instead of asking what is a good credit score, ask what you can do with your FICO score The first thing people want to know after checking their credit score is usually, “Ok, is that a good credit score?” There’s no one answer for what makes a good credit score. What’s more important is what you can do with different scores. See, your credit is a lot more important than you may understand. Even … [Read more...]
Surprising Facts about Bad Credit that Put You in Control
These surprising facts about credit will help you be a smarter consumer of debt and increase your FICO score Despite what Dunkin Donuts would like you to believe, America runs on credit rather than deep-fried donuts. Americans hold $9.1 trillion in debt they used to buy a home and $1.4 trillion to pay for education. They used $1.2 trillion in credit to move themselves around and charged more … [Read more...]
