Credit Score Myths Credit scores and credit scoring systems are complex and at times hard to understand. As a result there’s a lot of misinformation that floats around the public sphere and as with anything this can sometimes lead to widespread rumors that just simply aren’t...
Insurance Rates and Credit Scores It seems like almost everything is affected by credit scores. Most people probably don’t think about insurance as being something that is affected by their credit scores - what does one have to do with the other? Unfortunately, insurance rates in...
FCRA, The Fair Credit Reporting Act October 26, 1970 was the day the Fair Credit Reporting Act started protecting you against mishandling of your credit information and gave you access to review it yourself. But why is the FRCA a big deal? In the wild days before...
What is a FICO Score? FICO is a software company that invented the credit score. Before it existed, lenders had to review your credit history and determine if you met their criteria for a loan. This could take a while, and was subject to individual opinions...
It’s technically your credit score, but it can feel like the number that inmates get when they enter a prison. It soon becomes one of your identifying factors. You are no longer Mark or Lisa. You are 750 if you’re lucky or 500 if you’ve hit...
Your credit score impacts various parts of your life. It can help you land a new job or get a mortgage. It’s the key to getting a new car and renting an apartment as well. Because your credit score is so important, you need to...
You are sick and tired of wasting your money by renting apartments and houses. You want to make your money finally work for you by buying a home, but you have one glaring problem – you have bad credit. You might think that means you can’t...
The Fair Credit Reporting Act (FCRA) regulates credit bureaus to ensure that all information they report is accurate. Of course, the FCRA can’t go in and monitor all of these reports. Instead, it encourages people to check their reports for inaccuracies. To make that easier,...
You don’t have much money saved for a down payment, but you want a home. These days, you have several options for no-down-payment loans. The United States Department of Agriculture (USDA) and U.S. Department of Veterans Affairs (VA) both offer no-down-payment loans, and the Navy...
The credit industry is at a crisis point. On the one hand, inaccurate reporting is hurting credit scores and causing a lack of trust. On the other hand, the scoring system itself is broken. It has proven time and time again that it isn’t a...