If youre struggling to repay multiple balances on high-interest credit card accounts, a balance transfer could help get your debt under control. However, opening a new credit card, even for debt consolidation reasons, can impact your credit scores. When managed carefully, a balance transfer may boost your credit scores. But this isnt always the case, … Read more
Not all credit inquiries impact your credit score, but some do. What makes a difference is whether the credit check is soft or hard, which is based on who does it and why. Read on to learn more about soft vs. hard credit checks, along with examples of when each type is run. Then get … Read more
There are companies that will charge you for your credit score, but you might be able to get one for free from your credit card company, another lender, or a non-profit credit or housing counselor. You actually have more than one credit score. Credit scores are calculated based on the information in your credit reports. … Read more
Hey there, fam! Ever logged into your Capital One account and saw a negative balance, and your heart kinda skipped a beat? Like, “Wait, did I mess up big time?” I’ve been there, trust me But lemme tell ya straight up—a negative balance on your Capital One credit card ain’t a bad thing It just … Read more
Hey there fam! If you’re staring at your credit report and seeing some ugly marks draggin’ down your score I feel ya. Those negative items—like late payments or collections—can haunt you for what feels like forever. But wait, do you really gotta wait the full 7 years for them to vanish? That’s the big question, … Read more
Paying a stranger to add you as an authorized user on their credit card may seem like a good way to build credit. But the practice of buying tradelines is considered to be deceptive by creditors, and it may not have the impact youre hoping for. One way to raise your credit score is to … Read more
We’ll cover why credit scores matter in the mortgage process and how to maximize your score. A credit score isn’t the only deciding factor on your mortgage application, but it’s a significant one. It’s important to know your credit score and how to use it to get the best mortgage rate when you’re looking for … Read more
As long as your credit score is between 640 and 749, lenders may think you are a lower-risk borrower. According to FICO, a score that falls in the 670 to 739 range is classified as “good. FICO scores are based on data from Experian, TransUnion, and Equifax, which are the three main credit bureaus. Even … Read more
Lines of credit can provide versatility but there are risks to consider Part of the Series Running a Successful Small Business. When you need money, you may consider getting a personal loan, which provides a lump-sum amount. You might want to think about a line of credit, though, if you aren’t sure how much money … Read more
It’s good and bad to use your 401(k) money to buy a house. Part of the series How Do 401(k) Loans Work? If you take money out of a 401(k) before age 59 1/2, you will probably have to pay a tax or penalty. This rule also applies if you take money out of your … Read more
