Term: credit scores
21 found

How to Improve Your Credit Score By Labor Day

By Steven Shaw on 6/17/2015

How to Improve Your Credit Score by Labor Day

It’s summer, and now hardly feels like the time to “work” on anything. But some things — like boosting your credit score — can be worth some extra motivation. And if you’re looking to finance a large purchase after Labor Day, now’s the time to work on your score.

credit score
credit scores
improve credit score

The Cities With the Lowest Credit Scores

By Steven Shaw on 11/18/2014

Cities With the Lowest Credit Scores

The average U.S. consumer credit score increased 2 points from 2013, according to Experian’s Fifth Annual State of Credit study. Americans have an average 666 VantageScore 3.0, up from 664 last year, on a scale of 300 to 850. That’s generally considered fair credit.

credit score
credit scores
Lowest Credit Scores
VantageScore 3.0

How Much Will One Late Payment Hurt Your Credit Scores?

By Steven Shaw on 8/22/2014

How Much Will One Late Payment Hurt Your Credit Scores?

You open your credit card statement and discover you forgot to make last month’s payment. Or you get a call from a collection agency about a medical bill you didn’t realize hadn’t been paid. Or you check your credit reports and discover a late payment is marring your otherwise perfect payment history.

credit score
credit scores
FICO
FICO credit score
FICO Score

Why Does My Credit Score Change So Often?

By Steven Shaw on 6/2/2014

credit score changing

If you monitor your credit score, you may be like this reader — scratching your head wondering why it changes so often.

Here’s this week’s reader question:

My Discover card started providing my credit score free each month. What I don’t understand is why it was 814 one month, then 794 the next and now it is 803. Nothing has changed in my life. I didn’t open up any new credit cards, my home has been paid off since 2004 and my car was paid off in 2007. I pay all my bills each month in full and on time. So why the fluctuation in my credit score?

While I have to tip my hat to Discover for doing what’s right – providing free credit scores – seeing your credit score too often, as well as from too many sources, can create confusion.

credit scores
credit scores
FICO credit score
FICO Score

The Most Common Credit Misconceptions

By Steven Shaw on 5/21/2014

The Most Common Credit Myths 

Most of us aren’t clueless about credit scores, but we may be making costly mistakes. A recent annual survey by Consumer Federation of America and VantageScore Solutions about consumer credit knowledge found that a “large majority of Americans know a great deal about credit scores.”

But it also identified some common misconceptions about credit that often trip people up. Here are three of them.

credit
credit score
credit scores
Good Credit
Inquiries

The True Cost of Bad Credit

By Steven Shaw on 5/6/2014

The True Cost of Bad Credit 

Life’s easier if you have good credit, financially speaking. It can be challenging to get to that point, but aiming for great credit is a worthwhile goal, considering how costly it can be to have bad credit.

bad credit
credit cards
Credit History
credit scores

What Your Credit Reports Won’t Tell You

By Steven Shaw on 4/24/2014

What Your Credit Reports Won't Tell You 

A credit report is a pretty simple concept: It’s a report on your past use of credit and loans. That part is generally pretty easy for people to grasp. It’s some of the other stuff on the report — and the stuff that’s not on the report — that confuses some and leads to misunderstanding the credit report’s purpose.

credit report inquiries
credit utilization rate
Credit Inquiries
credit report
credit reports
credit score
credit scores
Inquiries
Reasons for Inquiries

Why Do People Check Their Credit?

By Steven Shaw on 1/31/2014

credit score 

If you don’t measure it, you can’t tell if it’s getting better. That’s a common concept when it comes to making improvements, whether in business, health or education.

check credit
check credit reports
credit score
credit scores
FICO credit score
free credit reports

My Credit Is a Mystery. Where Do I Start?

By Steven Shaw on 8/28/2013

credit is a mystery

There’s no denying the fact that credit has become a fundamental part of our financial lives. It influences how much we pay in interest on auto loans, mortgages, student loans and credit cards. It also influences our insurance premiums, deposits on utilities and rent, and in some cases, it can even impact our ability to get a job.

credit report
credit scores
Credit Scores vs. Credit Reports
Free Credit Reports

Credit Scores Demystified

By Steve Ely on 4/5/2013

People are always asking me what makes up a great credit score.  I usually start with "it depends".  It truly depends on a lot of different factors, all working together to determine the ultimate outcome.  This is one of the best blogs I've seen that tells you what the all the moving parts mean in a traditional credit score (like a FICO score), and can really help you understand how your credit score can change over time.

credit score
credit scores
FICO