At CommonBond, we get a lot of questions from student loan applicants who are concerned about how applying for a loan will affect their credit.
A healthy credit score is almost essential for comfortable living these days. Without credit, it's nearly impossible to get an auto loan, mortgage, or personal loan if needed. Interest rates are excessively high for those who have limited or bad credit.
Repairing your credit can be an uphill battle, but with the right strategy, it's possible to improve your credit health over time. The big question is whether you want to use a credit repair service to accomplish your credit repair goal or take this project on yourself.
It can be challenging to listen to the wisdom of the generations before us (we all have to make our own mistakes, right?), but there are some key credit lessons that are long overdue their time in the spotlight.
As the nation's full retirement age edges closer to 70, it means a 22-year-old college graduate has nearly 50 years to save and invest. That's why solid money habits built early can make an enormous difference, even for young people who can't afford to put away more than a few dollars a week at the start.
If you're a working professional and you're using social media to connect with friends, colleagues and business opportunities, then you need to be aware that your posts, updates, tweets and pictures can impact your financial future.
The Fair Isaac Corporation estimates that there are 53 million people in the U.S. who don't have a FICO score and the most recent scoring model shift is expected to impact about 15 million of them right away.
Think of it like this; a 740 credit score is the equivalent of an A+, and there is no such thing as A+++++. If you have a credit score significantly above 740, then I suppose you can brag about it to your friends, but you won't receive any benefits above what you would have if your score was just 740.
It's not the end of the world if you have bad credit. Actually, millions of Americans have credit that's rated below average. While it's not something you might be proud of, it's important to know that there are some ways to make it better.
Do you know your FICO Score? With a new version of the leading credit scoring system released this past fall, it's even more important to understand how you're managing your credit.
Recent trends have shown that Americans, particularly millennials, are weary of using credit cards. The problem largely stems from the way credit cards are viewed today. They are typically perceived as a "last resort" for consumers who can't afford to pay for their purchases.
Many parents want to help their children start building their credit foundation early, and to do so, they become co-signers or allow their children to become authorized users on their credit card accounts. Both of these options have advantages and disadvantages, but do you know the difference?
It wasn't easy, but your credit score just passed the 661 mark into "good" territory or the 781 mark into the "excellent" category. Congratulations, you're now a credit score champion! After you're done basking in your own glory, it's time to actually put that credit score to effective use.
Individuals who don't know their rights leave themselves open to being take advantage of. While various consumer interest groups monitor businesses and credit issuers constantly, searching for abuses, they cannot stop all the dirty tricks that exist out there.
While building up a credit score and credit history is ingrained in virtually every American today, we are seldom presented with information that can make the tasks at hand less perilous. Below is a simple list of mistakes to avoid as you use credit cards.
There are many myths surrounding what can actually help or hurt your score, especially when it comes to student loans. For recent graduates, student loans can be a credit disaster or a credit booster -- it all depends on how well they are managed.