The stakes are high for first-time homebuyers applying for a mortgage. It’s only natural to wonder how your credit scores will impact your mortgage application. Buying a house is an exciting milestone in life. However, it also involves a lot of financial planning and preparation. One of the key factors lenders consider when approving a … Read more
Your credit score may have gone down because you missed or paid a bill late, recently applied for new credit, ran up a big credit card balance, or closed a credit card account. Your credit score can drop for a number of reasons, including a recent late or missed payment, an application for new credit … Read more
The current average mortgage rate for someone with a good credit score (700) was 7. 42% as of January 3, 2025, according to Curinos data. Your credit scores can directly impact your eligibility for a mortgage and the interest rate you receive. You may need a score in the high 700s (or higher) to get … Read more
If youâre wondering how many credit cards you should have, thereâs no one-size-fits-all answer. But your number depends on your situation and goals. In general, you might look at whether having a single cardâor several cardsâhelps you build credit, manage your finances and take advantage of perks and rewards. Getting your first credit card as … Read more
Many employers, especially when hiring for positions that include financial management, perform credit checks on job candidates before making employment offers. Employers may use credit report information to verify an applicants identity and to look for signs of excessive debt or past financial mismanagement. Employers cannot see your credit score, but they can view a … Read more
A tier 2 credit score is a score that falls within the range of 670 and 799. Higher credit scores would be categorized within the first credit tier while scores below 670 would fall under the third credit tier. A credit tier is a way of organizing consumers and their credit scores. The most common … Read more
The issue of bad loans in India has remained a persistent concern. Over the past decade, banks have written off a total of Rs 16. 35 lakh crore in bad loans, highlighting the severity of Non-Performing Assets (NPA) in the Indian financial system. This staggering figure raises serious concerns for the economy. What does it … Read more
Around 82% of adult Americans have a credit card account according to the U. S. Government Accountability Office. Unfortunately, many of those who have credit cards carry balances from month to month and those balances can take years, if not decades to pay off in some cases. Thats because credit card minimum payments tend to … Read more
“Expert verified” means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Bankrate is always editorially independent. While we adhere to strict , this post may contain references to … Read more
FICO® Scores consider a wide range of information on your credit report. However, they do not consider: One of the most important things lenders look at when deciding whether to give you a loan or credit card is your credit score. It tells them how reliably you have paid back debts in the past and … Read more