Fixing Credit to Buy a Home: Credit repair tips and guide
My husband and I want to buy a house for first-time buyers. How can we fix our credit? Submitted by Ferlenzia M. Owning a home is a dream that many people have. To make that dream a reality, most people get a mortgage loan. To qualify for that type of loan, you need steady income,…
Read MoreHow do I find my credit score?
How do I find out my credit score? Who wants to know it, and what factors influence its change? Submitted by anonymous. A credit score is a representation of how someone managed their debts. It is meant to help creditors understand our financial responsibility. Payments on our loans and balances on our credit cards are…
Read MoreWhy isn’t my credit score improving?
I’ve been paying my bills every month on time and nothing changes on Credit Karma. I feel like I’m stalking the app. What should I do? Submitted by Michelle S. Congrats on paying your bills on time! Can we just celebrate that for a moment? What Impacts Your Credit Score Paying your bills will not…
Read MoreDo you recommend credit consolidation?
Do you recommend credit consolidation to improve scores and decrease debt? Submitted by Natasha P. There are two parts to this question, so let’s dig into them separately. Improving Your Credit Score Whenever a financial institution pulls your credit with the purpose of offering you a loan, your score may be affected. Closing a credit…
Read MoreHow many credit cards should I have?
“Hi Saundra! As someone who is getting her credit back in order, I want to be wise about applying for credit cards. I have two and working hard to keep them both under 30% utilization. I’m considering applying for one last card. How many credit cards is too many?” Submitted by Laurin O. There are…
Read MoreHow can I get a loan for a cheap used car?
Hello, Saundra! How do I go about finding and choosing a certain type of loan (if one exists) that would enable me to quickly buy a cheap used car (around a couple thousand) that I could be able to pay back (with no job/income) with only the money I have saved from last semester’s student…
Read More6 Steps for When Your Credit Is Denied
First, let’s start with the facts. There’s a widespread fallacy that a score determines whether or not you get credit. The truth is that lenders use a variety of factors to make credit decisions. These factors include your FICO scores, but also take into account your income, your employment history, and your credit history. This…
Read MoreAre there any legit organizations that help with credit repair?
Are there any legit organizations that help with credit repair?? I’m fearful of paying my money to a company that’s not accredited. Submitted by anonymous. The Consumer Finance Protection Bureau (CFPB) is my trusted source for this topic because they offer tips on selecting a reputable organization as well as some important questions to ask.…
Read MoreHow to Rebound from a Credit Slip
Credit slips can happen to anyone – and although you may panic when you see that number go in the wrong direction, sometimes even the best financial decisions may bring about a credit slip. So dust yourself off and congratulate yourself on being proactive in checking your credit score and taking actions to help it…
Read MoreWhat’s holding me back from getting approved for a credit card?
What’s holding me back from getting approved for a credit card? Submitted by anonymous. There are many reasons that credit card companies deny an application for a credit card. They review your application and your credit history to assess if you have stable income and how likely you are to pay them back (on time).…
Read More