A credit limit is the maximum amount of money a lender offers to a borrower. Whether it’s in the form of a credit card, home equity line of credit, or other kind of revolving credit account, there is a maximum amount of money available to the borrower, and that amount is his/her credit limit. The…
read moreHomeownership is a worthy goal for everyone, but it’s a big process to undertake. If you’ve never owned a home or have been away from homeownership for a while, it can be challenging to know where to begin. These tips will help you get started: Get your finances in order. This step will be different…
read moreTo generate your first credit score, your credit report will have to have at least one account on which you make monthly payments. The time it takes for your first score to show up will vary based on the credit score model. For example, the VantageScore model will create your first score in one or…
read moreMeeting financial goals as a family can be challenging. But inspiring your family to help and contribute to a financial goal doesn’t have to be a painful process, especially when the result is an exciting family vacation, a new family car, or college savings. In the spirit of America Saves Week, I’ll share some ideas…
read moreThere are three major credit reporting bureaus in the United States: TransUnion™, Equifax™, and Experian™. Each one has its own unique mathematical method of calculating a credit score for the consumer. And each bureau may have slightly different information on how they calculate credit scores that can seem confusing. So, why are the scores different…
read moreThe purpose of an alarm is simple. It serves to tell you and others around you of a problem. In most cases the alarm is simply the first step to further actions that are needed. Credit monitoring is no different, it’s your first line of defense to manage your credit score and react to unusual…
read moreThis one number makes all the difference to identity thieves… your social security number. When you apply for a job, the application asks for your social security number. When you apply for a bank account, they want your social security number. When you file a tax return, apply for a loan, get medical treatment, apply…
read moreAs 2018 ends and 2019 begins, the housing market in the US is being affected by rising interest rates. It will be important for home buyers to consider the current state of the market when shopping for a home. Interest rates have gone up several times in the last 12 months, and are higher than…
read moreLast week, Washington Post reported that Marriott International disclosed a massive data breach in which hackers had access to the reservation systems of many of its hotel chains for the past four years, a breach that exposed the private details of up to 500 million people. This data breach – one of the largest in…
read moreThe use of credit scores goes back to the 1950’s, but it became prevalent during the 1980’s as a way for lenders to quickly and easily evaluate a potential borrower’s creditworthiness. Today credit scoring is used by lenders, insurers, landlords, employers, utility companies, and even judges, to evaluate your credit behavior. There are many types…
read moreMost people would be better off as homeowners than as renters. There are always financial advisors who tell people to stay in rental units and invest their extra income instead of buying a home, but we think that advice doesn’t reflect reality. The fact is, homeownership is how real people build wealth. That’s why we…
read moreThe Importance Of Checking Your Credit Score On A Regular Basis You can check your credit report for free once per year at www.annualcreditreport.com, and we urge everyone to do so. But checking your report isn’t the same as checking your score, and that leaves some questions. Should you check your credit score? How often?…
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