The three main credit bureaus, Experian, Trans Union, and Equifax, have finally come up with a unified credit scoring system. It is supposed to simplify credit scoring, but so far, not everyone gets it.
Loan Analyzis: Home Equity Loans Versus Revolving Home Lines of Credit
Homeowners looking to tap into the equity in their homes are faced with choosing between a home equity loan and a home equity line of credit (HELOC). This can be a difficult decision, as each type of second mortgage loan has distinct benefits, and both are tax-deductible, but if you understand the basic differences in their structure, you can make an intelligent decision for you, your family and your financial future.
How Do Secured Credit Cards Work?
In today’s society, having a credit card is no longer a luxury, it’s a necessity. You need a credit card in order to rent a car, book a hotel room, or in the most extreme cases, to rent a movie from the local video store.
How to Check Credit Reports
Businesses in the United States buy more than two billion credit reports every year. Since there are currently fewer than 300 million people in the country, this means that the average adult has his or her credit reports examined by someone about once every other month.
Free Credit Card Bonuses Are Pricey if You Fail to Pay Your Bill
Many credit cards offer all kinds of bonuses that may make it worth your while to choose one card over another. Just remember that if you fail to pay your bill in full, you are paying more than the bonuses are worth.
How Credit Works
In order to acquire and maintain access to credit, one must have a working understanding of how credit works – namely, how credit scores are established and tracked by the three major credit bureaus.
Credit Counseling Clients Hurt by New Bankruptcy Requirements
The new bankruptcy law, while well-intentioned, is probably harming indebted consumers by requiring credit counseling. The result is a counseling system that is helping no one.
Credit Repair Scheme Promises Fast Score Increases But May Be Illegal
A well-advertised scheme to increase the credit scores of consumers with bad credit may work, but it is expensive and probably illegal. Those with bad credit should probably avoid this one.
Credit Reports and Scores Often Confuse Consumers
Most people realize that the credit bureaus maintain a credit report on them. But there are many misconceptions about what sorts of things can affect their reports.
Credit Score Improves by Paying on Time
It may seem obvious, but one of the easiest things you can do to improve your credit score is to start paying your bills on time.
Do you need a Credit Card?
Credit cards have exploded in popularity. There are no more credit cards and credit card options available than ever before. There are credit cards available for all kinds of borrowers and they are designed to fit a whole range of circumstances.
Credit Cards From Oil Companies Are No Bargain
The interest rates charged by oil companies on their gasoline credit cards are much higher than those charged by bankcards. You should use those instead.