What I learned was that while paying off student loans early may, in some cases, reduce your credit score, the advice to "be careful about paying off early" is a little misguided.
"Mom," my daughter said as she stood by my desk recently waiting for one of her homework assignments to print from my computer, "Did you pay this bill? It was due Oct. 4." She asked me this on Oct. 14. And no, I hadn't paid it.
Credit scores are just one thing we can't seem to get right. In fact, a recent survey found that many of us are still confused about them. This confusion can have a significant impact on our financial future. A good credit score can save you a lot of money in the long run, but a poor score will cost you a pretty penny.
Credit repair is not a guaranteed fix of your credit score, but if you go in knowing the risks and pick a company with a good reputation and money-back guarantee, you can hopefully avoid being burned.
Before you actually close your credit card, consider the effects that this will have on your credit scores.
True. Good credit scores can help you qualify for money when you need it. That's a great reason and probably the best known of them all. But there are other reasons that you should seriously work on your good credit and some of these might surprise you.
If you want to improve your credit (which you should!), then one of the first things you'll need to do is overcome your fears. Start with these fears and address any others that may come up.
Financial incompatibility is a leading cause of divorce and breakups. It therefore makes sense to try to ensure early on, that a couple shares similar financial values and habits. For many, the scope of this evaluation has been distilled into one central question: "What is your credit score?"
Of course it's important to do what you can to bump up your credit score. But many people use the wrong tools towards that objective even though they have the right motivation. And when they do, they actually worsen their credit rating rather than improve it.
There's a common misconception out there that everyone has ONE credit score, perhaps assigned by a government agency and used by financial institutions to determine your creditworthiness. But this is not true.
here are an estimated 1.5 billion credit cards in use in the United States and that can make them seem pretty ubiquitous. Nevertheless, access to credit cards is a privilege not a right, and if you make mistakes, you'll pay a price -- sometimes a hefty one.
If money is still tight and you're not able to pay all of your bills in full and on time then you might need to revisit your financial commitments. There are many other debt and financial experts out there who can speak to this -- my focus is on credit scores.
What bride-to-be hasn't thought about a summer wedding? No matter when your wedding is, here are a few credit-related mistakes to avoid as you get married.
It's time to stop making stuff up about the CFPB. It's not spying on Americans. It's out there protecting American consumers -- from families to seniors, from students to veterans -- from unfair financial practices.
By Gerri Detweiler Several years ago, my father received a letter from his auto insurer saying he didn't get the highest discount due to his credit s...
While loans with less than full documentation will not be insured by FHA or purchased by Fannie Mae or Freddie Mac, it would appear that lenders could make them very profitably at their own risk, but don't.