Category: Credit Score

6 Tips for Creating a Spending Plan That Helps Your Credit Score

Creating a sensible spending plan is one of the best ways a prospective borrower can have a positive impact on their credit score and get approved for a loan — but many people don’t budget their money. According to a Debt.com survey, 31 percent of Americans polled did not follow a budget, despite 97 percent…

What Is an Excellent Credit Score and How Do You Get One?

Having a good credit score is crucial if you ever hope to be approved for credit cards or loans without sky-high APRs. Ranging from 300–850, the three-digit number proves to lenders and credit card companies that you are a trustworthy borrower who will pay back your debts in full. The higher the number, the higher…

10 Mortgage Terms Every Borrower Needs to Know

The first step to joining the nearly 40% of American homes that are now “free and clear” of mortgage debt is to start making the regular monthly payments that lead to financial freedom. If you’re just beginning to navigate the homebuying market, the array of terms can be baffling. Here are the essential mortgage terms…

5 Components You’ll Find in Your Credit Report

When you get a credit report, you’ll find tons of information about your borrowing habits that can be difficult to understand. The process of credit scoring and how your credit score is determined is somewhat unknown to the public. Unless you work for a credit bureau, you’ll likely never know or understand the algorithm that…