A car dealership will take your application and will send it to several lenders that they work with so they (the lenders) can compete with each other to get the customer the best loan. A lender will appear on the report as a separate inquiry when it accesses the borrower’s credit report, but credit scoring […]
When somebody uses your personal information to file a tax return you have been a victim of tax identity theft. According to the FTC, there were more than 90,000 reports of identity theft in the first three quarters of 2020, even with those numbers tax identity theft is less common than other types of fraud. […]
Mortgage refinancing increased last year in 2020. There are several reasons to refinance your mortgage but if you’re thinking about it, we can give you a few reasons to do so, here are the main ones. Change Your Loan Term The option to change your loan term means you can refinance to shorten the term […]
Senator Elizabeth Warren made a budget strategy popular, the 50/20/30 budget rule to reach your financial goals. It’s basically separated by 50% on needs, 20% on paying debts or saving, and 30% for just living how you like, meaning gym memberships or dinners in a restaurant, etc. Needs The 50% on needs are for bills […]
A hard inquiry when you apply for a new credit card or a new loan. A creditor will view information on your credit report to determine whether to extend or give the credit or not. A hard inquiry stays on your reports for two years, after that they are removed, but if you can’t wait […]
It seems ironic that you need credit to get credit, but here’s a big difference, people don’t need debt to get credit, in other words, it’s time to pay some debt in order to boost your credit. Here are five simple steps you can take to clean up your credit score, it will be hard […]
We’re excited to tell you that Antoine Sallis the Credit Genius wrote a book and it’s out today! It’s called The Fiercely Resilient Credit Crackhead. The Credit Crackhead is about a normal man named Stan who discovers how to build and leverage his credit to achieve the goals he wants in life. Although it is […]
Yes, tradelines can boost credit. Tradelines are debts that you’re paying off like credit cards or auto loans, or any time of loans. Payment history, credit age, credit card utilization, inquiries, total account, and derogatory marks are the six main categories that your credit is composed of. Inquiries and derogatory marks will hurt your score, […]
1. Dispute credit errors The easiest one is to start by looking at your credit report and check for any errors. If any error is found and corrected (that will take time) you can see an increase in your credit score. 2. Pay off debt This represents 30% of your credit score, so make a […]
Minimum credit scores vary depending on the mortgage you’re trying to get, whether it is an FHA loan (Federal Housing Administration), a VA loan (Department of Veteran Affairs), or a conventional mortgage. Conventional Mortgages Minimum Credit Score Needed: 660 or higher. These loans are not insured by a government agency but follow standards set by […]