Term: credit scores
21 found

5 Credit Myths to Ditch in 2013

By Steven Shaw on 1/8/2013

5 Credit Myths to Ditch in 2013

When one year ends and another begins, it’s hard not to look ahead and strive to do better. And when it comes to credit, we’re definitely creatures of habit. We resolve to spend less, but open store credit cards anyway. We vow to pay off debt, but only put down the minimum due. We aim to turn our credit around and boost our scores — and while we might think we have a handle on how the system works, we might actually have some misconceptions about credit that can keep our goals out of reach.

So what should you do? We asked Credit.com expert Barry Paperno to highlight five popular credit myths to ditch in order to help everyone get a better handle on their finances.

"credit score"
bad credit
credit
Credit Card Debt
credit cards
credit scores

5 Mistakes New Cardholders Make

By Steven Shaw on 12/17/2012

5 Mistakes New Cardholders Make

Your brand new credit card arrives in the mail all shiny, just waiting for you to take it shopping. Before you break it in, though, watch out for these five mistakes new cardholders often make:

Retail Store Credit Card
"credit score"
cosigner
credit
credit cards
Credit Inquiries
credit rewards program
credit scores

Did Your Credit Card APR Change? Don’t Freak Out

By Steven Shaw on 12/14/2012

Credit Card APR

The message on the notice from her credit card company read, “We are pleased to tell you that we have lowered the following Annual Percentage Rates (APRs) on your account. Purchases: Prime + 11.74%, currently 14.99%V.” Immediately, my colleague who received the notice assumed her card issuer was trying to pull a fast one on her, by changing her credit card rate from a fixed to variable rate.

While we have no idea when or how quickly rates will climb, cardholders can take advantage of today’s low rates to aggressively pay down debt so that, like my colleague, they don’t have to worry about the rate they’ll pay. After all, 0% is always a good deal!
Credit.com (http://s.tt/1wVKr)

 

Annual Percentage Rates (APRs)
CARD Act
credit
credit cards
credit scores

How the Mobile Wallet Might Impact Your Credit Score

By Steven Shaw on 11/29/2012

How the Mobile Wallet Might Impact Your Credit Score

E-wallets are going mainstream, and as more consumers buy in they should be questioning whether the technology could affect their credit score.

Consumers might not see an immediate parallel, but there are a few factors for mobile wallet users to consider. For one, the mobile wallet industry is still young, and the privacy and security of these systems are a work in progress. Also, mobile wallets make it easier to impulse shop, and the jury’s still out on whether such devices like Google Wallet and PayPal’s digital wallet could negatively impact one’s financial behavior. It’s a lot to take in, and given all the credit fraud going around, it’s a decision worth thinking through. So before you take a walk on the digital side, let’s examine two of the issues that you should watch out for.

"credit score"
credit
credit reports
credit scores
personal finance

Happy Thanksgiving! and some good advice on how to maintain your good credit standing

By Steve Ely on 11/21/2012

In the spirit of the season, Jeanne Kelly serves up some great advice you can think about while enjoying all that wonderful food on turkey day.

credit
credit cards
credit scores

Ever wonder how different types of Credit Cards affect your credit score?

By Steve Ely on 11/20/2012

Another great article by Barry Paperno explains the fine details of how credit cards affect your credit score.  Unfortunately, there's really no way for you to know exactly which score (or which vintage of the score) the lender is using.  So just follow Barry's sound advice to be aware of the nuances.

credit
credit cards
credit scores

8 Surprising Behaviors That May Hurt a Young Person’s Credit Score

By Susan Cataldo on 11/19/2012

Age is not a determining factor in your credit score, but the age of your credit file (“Length of Credit History” in FICO Speak) is responsible for 15% of the calculation.  That means that certain behaviors will have a greater or lesser impact on your score depending on how old, or new, your credit history is.  A credit inquiry or a late payment reported on a very young file will probably deduct a much higher percentage of points than the same behavior on say a 30 or 40 year old credit file.   Whether you are an adult just entering the credit economy, or a young person just starting out, here are some pointers from My Money that can help you make good decisions so you don’t inadvertently hurt your credit score. 

credit
credit cards
credit scores
personal finance
student loans

Adam Levin talks about the responsibilities of having credit

By Steve Ely on 7/26/2012

Part of our mission at eCredable is training the next generation of consumers to be prepared to enter the part of the financial system that involves credit.  Adam Levin does a great laying out the responsibilities all consumers have when it comes to managing and protecting their credit once they have it.

credit
credit scores

Alternative data - The Rest of the Story

By Steve Ely on 6/14/2012

Businesses are constantly looking for more information about their customers, and their prospective customers.  Alternative data is a hot topic, and a large area of focus on the minds of the folks responsible for growing the business.

alternative credit reports
alternative data
credit reports
credit scores

Rejected for an Auto Loan? You still have options.

By Steve Ely on 6/4/2012
I wrote this article for Credit.com, one of the best sites on the web for any information related to the topic of credit.  This article let's you know that you can still get an affordable auto loan, even if you don't have traditional credit.
auto loan
credit
credit reports
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