Credit Scores

FICO scores are a way of letting lenders and creditors gauge the reliability of borrowers when it comes to repaying loans. According to the FICO website, 90 percent of lending decisions involve a FICO score. One of the most significant factors on the score is the loan installment. If you are unsure about whether your […]

If your credit score is lousy, you’re not alone. In fact, it’s surprisingly common to have less-than-pristine credit history. Even if you do your best to stay on track, life throws so many curves that you never know when you’re going to be hit with a financial challenge that leaves you struggling to maintain timely […]

A credit score is a signal to lenders of how reliable and trustworthy someone is as a borrower. The rating considers a multitude of factors, including payment history, new credit, credit mix, credit utilization ratio, and length of credit history. These elements combine to make a credit score. Where FICO Scores Come From The company, […]

An installment loan is a type of financing where borrowers pay back the lender the principal plus interest. Some of the most common examples include mortgage, student loans, and car loans. Regardless of what type of installment loan you take out, it will end up influencing your credit score if it is reported to a […]

If you have a murky credit history, it can be challenging to bounce back. Luckily, we can suggest one straightforward way to get the needle moving to the positive side: A credit-building loan. The premise is simple. You take a small loan with a favorable interest rate, and you repay it over the period of […]

These days, your life is very much dependent on your ability to maintain good credit. Approval for installment loans, credit cards, mortgages, auto loans, and even rental housing, are based on your credit score and your demonstrated ability to pay off debt. With that in mind, understanding your credit score and how it affects you […]

With a sluggish economy and many high school and college graduates unable to find jobs, many Americans these days are suffering from poor credit. But a low credit score does not have to be taken for granted. Credit scores can change! Here are a few things you can do to start improving your credit score. […]

The purpose of your fico score is to illustrate to lenders your ability to pay upon your debts. In a sense, it’s your financial savviness. A predetermined algorithm uses five categories to reach your unique credit score. The categories are: 10% — Types of Credit Used 10% — New Credit 15% — Length of Credit […]