How Do Individual and Overall Credit Utilization Ratios Differ?
Determining your credit score isn’t a very transparent process. Between the proprietary formulas and confusing jargon, it can get frustrating trying to determine the best ways to raise your score. To help you better understand your score, we’re going to discuss credit utilization (an essential part of your credit score), and breakdown the difference between overall and individual utilization. The Definition of […]
How Is the VantageScore Different From the FICO Score?
Over the last decade, a popular alternative for determining consumers’ creditworthiness has gained favor with lenders and credit providers. Known as the VantageScore, it’s the result of the three major credit reporting bureaus having decided to create their own proprietary model to provide organizations with another option to the FICO score. Although a growing number […]
The Truth About Inquiries: How Much Do They Hurt Your Credit Score
In this age of technological advances, identity theft and account hacking, it’s more important than ever for people to monitor their credit scores. Banks, businesses, employers, and credit card companies are just some of the other interests that may make inquiries into a person’s credit worthiness. Some credit score inquiries affect your overall credit score, […]
A Complete Guide To Collections Accounts
If you are like most people, you’ve had a bill or two go unpaid. Maybe you suffered a job loss and couldn’t make your monthly credit card payments. Perhaps a utility bill went unnoticed when you had a lot going on or it got lost in the mail when you moved. Regardless of why the […]
What You Need To Know About Collection Accounts and Your Credit Score
If you miss payments on an account in your name, the creditor might report the delinquency after a few months. After some time of that delinquency going unpaid, the creditor might begin collections actions or sell the debt to a company that specializes in this area. Not only are collections efforts an uncomfortable disruption to […]
Common Credit Score Errors and How You Can Repair Them
There are a lot of consumers with unknown errors on their credit reports. About 25% of people with credit have an error they don’t know about. They’re typically found when someone is trying to obtain a new credit card, purchase a home or obtain a car loan. In those time-crunched situations, it can get frustrating […]
