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Most Recent News in Credit Score Advice

  • Good Borrowers Think like Lenders

    by Sally Maison

    Lenders look on different factors before they approve on a person’s loan or mortgage application. One basic and large factor that they check on is your credit history. One way to maintain a good credit history and let only positive reports be reflected on your credit report is understanding how money works. Reading books that talk about money will help you keep your finances on track. You’d be bale to get a lot of information about what to do and … (more) July 12, 2010

  • Mistakes that Could Hurt Your Credit Score

    by Sally Maison

    We all commit mistakes sometimes but when it comes to our credits, we can’t. We may not realize but simple mistakes could lead to great damages. If you think that several inquires on your credit report from different companies would not hurt you, then you’re wrong. Several hits on your report obviously mean that you are searching for several loans at once or may have been rejected by others. This is will not do good on your credit score. Be … (more) July 6, 2010

  • You should know your Credit Report and Credit Score better

    by Sally Maison

    The time has come when man has to depend on three figures to actually decide what he can or cannot consume. And those three figures represent the credit score. The credit score is calculated by a formula which is based on a number of factors which are represented in the credit report. The credit report is a consolidated listing of all the credit activities pertaining to a person. It includes information such as credit history, current accounts, public records and … (more) June 21, 2010

  • The ABC of Credit Score

    by Sally Maison

    The credit score is basically a three digit number. It is these three digits which will decide how much loan one can apply for and at what rate of interest. Nowadays, most of us depend on credit to go about all our purchases. This is in fact a very disturbing trend because you are consuming something without actually having the money to pay for it. And you are relying on your future capacity to pay it back. But it’s almost … (more) June 14, 2010

  • Payment history affects your credit score

    by Sally Maison

    Credit score will play a very important role as far as obtaining loans goes. Any kind of investment today needs a creditor who is ready to lend you some money for the investment. The creditor will take a decision based on your personal financial history. Your financial history also known as credit history will be present in your credit report. The credit report is prepared by three agencies in the United States. These three agencies are Equifax, Experian and TransUnion. … (more) June 7, 2010

  • Know what constitutes your credit score

    by Sally Maison

    Credit score is the most important number in the personal finance world today. This number alone can get you approved for a new credit or a loan, or it can help the creditor reject your loan. The credit score is a simple number that is your entire credit history and your behaviour as a financial person put in a very concise and simple format. Credit history contains details of all the credit you might have ever had and the transaction … (more) June 2, 2010

  • Credit Score Advice: Don’ let you credit cards affect your credit score

    by Sally Maison

    If you are planning to make an investment, you need to go to a creditor. Credit is the term used to describe the process where a borrower borrows some money from a lender to buy goods and services. The borrower also promises to pay the money back in periodic instalment at an interest rate decided upon previously. When you apply for a loan or a credit, the creditor will try and find out the kind of person you are financially. … (more) April 29, 2010

  • Credit Score Advice: Don’t let credit enquiries affect your credit score

    by Brian Anderson

    Everybody has heard the terms credit, credit report and credit score. In these times of economic hardship, these terms are being thrown about. However, few actually know what credit is and what does credit report have or what credit score denotes. Credit is when a person wants to make an investment and goes to a creditor or a lender. This creditor or lender must now take the decision regarding the loan. To take the decision, the creditor will inquire … (more) April 19, 2010

  • Credit Score Advice: Credit Score is an integral part of your finances

    by Brian Anderson

    These are times of economic hardship and one has to be very careful with finances. It will help one if they understood the basics of finances and how various decisions affect their finances. The most basic term in finances today would credit. Credit is a very important term that few rarely understand. Credit is when a person looking for an investment goes to a creditor or a lender. He can borrow money from the creditor with a promise to return … (more) April 14, 2010

  • Credit Score Advice – Closing credit cards positively impacts credit score

    by Brian Anderson

    The credit score is affected by a number of factors. Closing a credit card is one of those factors. People use this tactic of closing credit cards with the assumption that it will help improve their credit score, but this tactic actually backfires. We shall now go about trying to understand why this happens. Firstly, the reason why a person usually closes a credit card is because he or she might have a huge outstanding balance and is hoping that … (more) April 4, 2010