Term: Good Credit
4 found

How to Maintain Good Credit Without Debt

By Steven Shaw on 7/8/2014

How to Maintain Good Credit Without Debt 

Credit is a system of trust, and that trust can only be established through experience. It doesn’t really matter how you get started — a credit card, student loans, a personal loan, asking someone else to co-sign a loan or add you as an authorized user to their credit card — but you have to use credit in order to build it. Why? Because without using credit, you have no payment history, which is one of the major ways lenders determine whether or not they can trust you to repay a loan.

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Debt
Good Credit

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.

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Inquiries

A Super Simple Way to Figure Out If You Have Good Credit

By Steven Shaw on 4/22/2014

A Super Simple Way to Figure Out If You Have Good Credit 

Your credit report is basically a record of why someone would or would not want to lend you money. If you have good credit, that means you have done a lot of things to make a lender think, “Wow, if I give money to this guy, he’ll definitely pay me back when he’s supposed to.” On the other hand, if you have bad credit, that means your credit history (or lack thereof) makes a lender think, “Huh, I’m not so sure about this guy. It could be pretty risky to let him borrow my money.”

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Good credit scores

Can I Be Debt-Free & Have Great Credit?

By Steven Shaw on 1/9/2014

debt-free 

Credit and debt are not synonyms. This is important to know.

It’s understandable people confuse the relationship: It’s good to have a high credit score, and you need to use credit in order to have a score. Sometimes, using credit leads to debt. However, you do not need to have debt to have a credit score (or a good credit score, for that matter).

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Debt-Credit Relationship
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Revolving credit