How Do Credit Inquires Affect Your Score?

credit inquires affect score

There are a few types of credit inquiries individuals will encounter in life. Not all of them affect credit scores, but none of them improves credit scores. Like Google and its algorithm, the Fair Isaac Corp. does not divulge the details of how FICO scores are derived. The major reporting agencies only give o...

Protecting Your Credit After an ID Theft with IdentityTheft.gov

Anyone is subject to identity theft these days.  And when it happens, your credit can be damaged. That’s because criminals steal your ID to commit fraud and forgery in your name. Basically, ID theft is when someone takes your personal information without your knowledge or consent and uses the data for ill-got...

Will Your Credit Impact Whether You Get the Job: 4 Things To Know

It’s 2016 and the reality is, there are a lot of people looking for jobs.  The unemployment rate is hovering right around 5%, and according to Careerbuilder as many as 75% of full-time employees are considering new employment opportunities. If you’re one of the many scouting out a new opportunity, you migh...

The Best Secured Credit Cards for Rebuilding Credit

Although credit cards sometimes cause more problems than they solve, when it comes to rebuilding your credit, they can be helpful. Depending on your credit, you may not be able to get an unsecured credit card. In that situation, you should consider a secured credit card. The benefit of these cards is that your c...

Rebuilding Credit WITHOUT Credit Cards

If you're one of the many Americans struggling with a less than ideal credit score following the credit crunch and real estate bust, you know that rebuilding credit can be a difficult process. Financial experts often recommend getting a secured credit card to rebuild. The trouble with that approach is that credi...

What To Do If Your Credit Limit Is Lowered

Since the financial fallout from the Great Recession, many banks have started lowering credit limits, even for customers with good credit and payment history. Lenders are tightening up outstanding risk and have scaled down credit limits to reduce the risk of default. Many banks use an automated algorithm that ...

How Long Does Bad Information Stay On Your Credit Report?

One of the most asked questions for credit agency call centers is how long bad information stays on a credit report. Your credit score impacts everything from buying a car to getting a job. If you’ve made some missteps in the past, knowing how long bad information will stay on your credit report is important...

Easy Ways Young People Can Start Building Credit

You can technically spend your twenties without any credit rating. You can pay for everything in cash and skip applying for student loans, or car loans, or even skip owning a credit card altogether. The idea of never having to worry about having any debt can be liberating, until you get older and realize that yo...

3 Credit Utilization Tips To Help Your Credit Score Skyrocket

Your credit score is an important factor to look into when you purchase items through credit. As a consumer, you need to have a better understanding of your creditworthiness to have the ability to purchase both small-ticket and high-ticket items. Credit scores are calculated based on a variety of factors and the...

7 Ways That Credit Can Improve Your Life When Used Correctly

  Credit initiates an immediate negative feedback in our minds because owing another person or institution money is a taboo for most people. You might be itching to get your hands off the topic but credit can actually do you good if properly utilized. After learning the seven ways credit can improve your l...

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