A FICO score of 826 puts you in rarefied territory It’s an exceptionally high score that less than 1% of people can claim But is an 826 FICO score good? The short answer is yes – it’s about as close to perfect as you can get when it comes to credit scores, In this article … Read more
A charge-off is when a creditor no longer thinks a borrower will pay back several months of late payments and writes off the debt as a loss. The missed payments, charge-off and any collections involved can severely harm your credit. A charge-off is a negative entry on your credit report indicating a creditor has written … Read more
Factors including low credit scores and minimal credit history can lead to low credit limits. Improving credit scores can mean higher limits. There are a few reasons why a credit card company or other lender might give you a low credit limit. Some of these are your income, your credit history (or lack thereof), and … Read more
Getting a mortgage for a home purchase is exciting but comes with financial responsibilities. Private mortgage insurance (PMI) is often required when the down payment is less than 20% of the purchase price. PMI adds to your monthly payment and delays homeownership. However, there are strategies to eliminate PMI, including getting an appraisal. This blog … Read more
You’re ready to buy a car, but first you need to figure out the right way to finance it. The good news is that you have options: You can get your car loan from a bank or credit union, or you could go through the dealer. Both have their benefits and considerations, and it’s best … Read more
Most of us grew up thinking that studying and working hard was the secret to becoming wealthy. But these days, many have realized that it doesnt always work out that way. People’s finances can get worse during recessions, layoffs, inflation, and the housing market crisis. This can make the gap between the rich and the … Read more
Taking out a $2,000 personal loan can provide quick access to funds when you need them. But lenders will look at your credit profile to determine if you qualify and what rate you can get. So how much credit do you really need to get approved for a $2,000 personal loan? The short answer is … Read more
Yes, you can get a mortgage even if you have credit card debt, but you may have to go through some extra steps. How credit card debt affects the mortgage approval process can help you get ready for the process of buying a home. Key takeaways. How Much Credit Card Debt is Too Much for … Read more
A personal bank loan is a type of loan that banks offer. It gives people a lump sum of money that they have to pay back over a certain amount of time. Personal bank loans can be used for many things and are an alternative to credit cards and home equity loans as a way … Read more
Theres not a one-size-fits-all solution for the number of credit cards a person should own. However, its generally a good idea to have two or three active credit card accounts, in addition to other types of credit such as student loans, an auto loan or a mortgage. Just remember: The number of credit cards you … Read more