A persistent myth about improving credit scores is the notion that maintaining a monthly credit card balance helps your score more than paying off your balance in full. Thats untrue. Whats more, carrying balances on your credit card accounts typically costs you money in the form of interest charges, and under certain circumstances it could … Read more
Defaulting on a 401k loan can have serious financial consequences. You take money out of your retirement savings when you borrow from your 401k. If you don’t pay back that loan, you’ll have to pay taxes on it, which could hurt your retirement plans. This article will tell you what happens if you don’t pay … Read more
Lenders will want to see your bank statements and information about any accounts that hold money that you plan to use for the loan when you apply for a mortgage. But can they see your whole credit history? Here are some things mortgage lenders can and cannot see when they are approving your home loan. … Read more
Your FICO® ScoreÎ falls within a range, from 740 to 799, that may be considered Very Good. A 751 FICO® Score is above the average credit score. Borrowers with scores in the Very Good range typically qualify for lenders better interest rates and product offers. Statistics show that only 1% of people with Very Good … Read more
Since you own your own home, it’s probably important to give your family peace of mind in case you die suddenly or can’t work anymore. Purchasing a mortgage protection insurance policy can give you peace of mind by paying off your home loan if you’re no longer able to make payments. However, this type of … Read more
A credit card can be a great way to break large purchases into smaller, more manageable payments. However, carrying a credit card balance from month to month isnt generally the smartest option. Paying off debt is usually seen as a positive financial move. However, some people worry that paying off an installment loan like a … Read more
Now that you know the answer to the question “Is Equifax a FICO score? “, let me clear the air right away. Nah, they ain’t the same thing. Equifax is a credit bureau that keeps track of your financial history. A FICO score, on the other hand, is a number that is calculated from that … Read more
When you’re barely scraping by month-to-month, getting out of debt can seem like a lost cause. You might feel like you’re heading for a financial disaster if traditional ways of paying off debt, like the snowball and avalanche methods, aren’t working with your current paycheck. This doesn’t have to be the case. Break the cycle … Read more
Most people take out a mortgage because they have to. Homes are expensive, and chances are good the average individual does not have hundreds of thousands of dollars to just write a check for one. But not everyone has to borrow to buy a house. Rich people with a lot of cash on hand may … Read more
We all love Netflix because it has so many movies, TV shows, and documentaries to choose from. Netflix makes our lives more fun because it is one of the best streaming services in the world. But, like most subscription services, Netflix needs you to keep paying for it to keep your account active. What happens … Read more