If you have a low credit score, you’ve probably been thinking about doing something about it.  With today’s economy, and much more stringent lending standards, it’s imperative that you have as high a score as you possibly can.  And there are certainly ways of improving your credit score.  But many people get taken for a ride.  They’re surfing the internet when they see a banner ad that screams “Raise Credit Score Fast!!!”  They check out the website, it looks good, and before you know they’ve plunked down several hundred dollars.
Read more »

If you’ve gotten your credit score lately (also commonly called your FICO number), you may be wondering where you fall on the scale.  For that matter, what exactly is the scale?  What are average credit score numbers?  High?  Low?  Well, we’ll look at these mysterious numbers and you can see just where you stand compared to the average American.
Read more »

If you’re in the market for a new or late model used car, you may be in for a rude shock when you shopping to pick one out.  The minimum credit score required to qualify for the very best car loans has been raised recently.  And so have the credit scores to qualify for even a higher interest loan.  In other words, unless you’ve got really good credit, you’re going to be making higher payments these days than you would have a year ago for the very same car.  This doesn’t mean you can’t get a car loan, but you should be aware of your credit score before you go car shopping.
Read more »

If you’re one of those people who are looking to buy a house in the next year or two, you should give serious though to increasing your credit score.  This is a great idea, as the higher your score, the lower interest rate you’ll qualify for when you do take out a mortgage.  And its even more important these days, as the mortgage crisis has resulted in lenders getting a lot stricter with their loan standards.  Over the past five years, they’ve been handing out mortgages like Halloween candy, but those days are over.

Read more »

Have you ever asked yourself “what exactly does my credit rating mean?”, well, you’re not alone.  Right after your Social Security number, and maybe your phone number, your credit rating is the the number that will have the biggest impact on your life.  And while it’s possible to get an unlisted phone number, you can’t get an unlisted credit rating.  And you wouldn’t want one even if you could, unless you never want to borrow money again.  I used to be in the dark about what this number means, but when I started investigating my credit rating, I found out how the system works.

Read more »

The higher credit score you have, the better credit is and the more credit you will have.  Some say that having no credit history is worse than having bad credit.  When you first start out in life, if can be difficult to get anyone to approve you for credit as they have nothing to base their decision on.  If you find that you are having a hard time getting a good credit score rating due to not having any credit at all then you will want to look into starting small.  You can check with your bank and see if they can offer you a small loan or a credit card with a small limit so that you can build a little bit of credit for yourself.
Read more »