Ok, I get it…this credit score stuff is complicated. The media get it wrong. Politicians get it wrong. Even employees of the credit bureaus get it wrong. So back by popular demand it’s another edition of my credit score myths.
One of the problems with the recent coverage of the debt ceiling issue is that it focused so much on the political players involved with the debate and not enough on the trickle down impact to Joe Six-Pack. Many of us were buried with terms like AAA rating, Treasury-bills, and Rating Agencies. But what does it all mean to you…and me?
A new law goes into effect this week which will require many lenders to disclose the credit scores they used to make decisions about your loan applications.
Having a collections on your credit report can seriously mar your score, so it can be tempting to accept an offer to settle ( especially for less than you owe), but it’s not always a smart move.
Say you’ve got some extra money to pay off one of your major loans (mortgage, auto, credit card, collections). How do you get the most bang for your buck in terms of boosting your credit score? We’ve got the expert answer.
When it comes to protecting your credit from identity theft, you have options. You can do nothing. You can pay to monitor your credit reports. Or, you can freeze your credit reports. Each has their pros and cons.
When paying off your credit cards, conventional wisdom says you should always start with your highest-rate card first, but that may not be the best strategy if you’re looking to boost your credit score or maintain a generous credit limit. Learn here which pay-down strategy will work best for you.
