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5 Common Mistakes that Lower Your Credit Score

Posted on December 14th, 2016 by Howard Cutler

You may know of some common mistakes that can lower any credit score: paying bills late, forgetting to pay bills, home foreclosure, bankruptcy, and repossession. Did you know there are actions that many believe to be good for their credit, but they actually have a negative effect? Let’s take a closer look at some of the less familiar risks:   Closing old credit cards. When we’re shoring up our finances, we often think cutting up old credit cards and closing our accounts is good for our credit. If cutting up cards will curb spending, then by all means, grab the scissors…but don’t close your accounts. The average age of credit lines is a factor in determining your credit score. The further back your history goes, the more likely lenders are to view your records favorably. Lenders like to see reliable payments over a long period of time. If you close…

Five Ways Your Credit Score Affects Your Life

Posted on November 29th, 2016 by Howard Cutler

If you’re under the impression your credit score isn’t influencing your life right now, think again. Your credit can affect so much more than just your wallet. Whether it’s good or bad, credit history can creep its way into your day-to-day life in surprising ways as well as impact the lives of your children. A heavy burden to carry, particularly for single parents. Consider this: it can take years to build credit history but only a few small, careless mistakes to ruin it. Neglecting your credit score isn’t the type of thing you want to do, since it impacts both you and your family. Why? Here are five ways your credit score affects your daily life and those of your family.   . Your Score Determines Where You Live   Imagine finding the perfect house in the ideal school district for your children. In order to purchase it, you’ll need…

How to Find a Credit Repair Expert You Can Trust

Posted on November 15th, 2016 by Howard Cutler

Bad credit can quickly make life an uphill battle. It can prevent you from getting a loan approved or access to credit when you need it most. When bad credit weighs you down, who can you turn to for help? How do you know which credit repair companies can be trusted? Where can you find the best deal? We’ve answered your questions with expert tips on finding quality credit repair.   Go Local Local consultants are more likely to stay up-to-date and on top of your state regulations. Keeping up with best practices makes local credit repair experts more effective and efficient. They generally give you the most bang for your buck and can also recommend local resources. Credit consultants often work closely with bankers and lenders within the community. They’re well-versed in local policies, loans, and rates to assist you in finding the best arrangement to fit your financial…

Understanding Your FICO Score Can Save You Money

Posted on July 15th, 2016 by Howard Cutler

Improving your credit scores can save you money and open new financial doors. Higher scores can increase your chances of being approved for credit cards and personal loans. In addition to getting lower interest rates on those credit lines. Your credit can also affect other areas of your life. Such as your ability to rent an apartment or get a job. Before diving into different ways to raise your credit scores, it can be helpful to understand what factors go into determining your credit scores. What Is A FICO Score? A FICO score is a type of credit score created by the Fair Isaac Corporation. Lenders use borrowers’ FICO scores along with other details on borrowers’ credit reports to assess credit risk and determine whether to extend credit. The standard FICO Score ranges from 300 to 850.

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