This is the fifth post in our series about building a bad credit score into an excellent score. Once you understand which items have the biggest impact on your credit score, it is time to take action. Are you going to pay down debt in a hurry? Will you alter your budget to ensure on-time payments in the future? Regardless of the strategy you implement, you hope your credit score begins to increase soon enough. Time...
This is the fourth post in our series about building a bad credit score into an excellent score. If you are seeking ways to improve your credit score, it is important to understand the items that have the biggest impact. This will ensure that you spend your time and energy in the appropriate manner. Your FICO score takes into consideration both negative and positive information. For example, a late payment will lower your score while establishing...
This is the third post in our series about building a bad credit score into an excellent score. As you continue your quest toward an excellent credit score, you will find yourself faced with a very important question: which steps can you take to improve your score within a reasonable period of time? While nothing happens overnight, there are some key steps you can take to put yourself on the right path: 1. Pay your bills...
This is the second post in our series about building a bad credit score into an excellent score. It goes without saying that a high FICO credit score is better than a low score. Your score is used when making a variety of lending decisions, so you don’t want to do anything to risk your good standing. Generally speaking, an excellent FICO score falls in the 750 to 850 (perfect) range. It may not be easy...
This is the first post in our series about building a bad credit score into an excellent score. When was the last time you reviewed your credit report? If you can’t remember, if you know you have neglected to do so in the past, it is time to make a change. Contrary to popular belief, credit bureaus are not perfect. There is a chance your credit report could have at least one mistake. Subsequently, your score...
Credit cards remain popular among many people for a variety of reasons. From the reward points to the convenience, there will always be people who would rather swipe their plastic than pay with cash. Conversely, there are several high level benefits of paying with cash. Once you become familiar with these, you may find yourself more interested in using cash and less interested in credit cards. Here are three benefits: 1. No chance of running up...
Just because you put a lot of time into creating a budget doesn’t mean it will help you achieve financial success. Here is why: You may have used inaccurate data.You have to stick with your budget (not just create one).You aren’t being realistic with your expectations. If your budget continues to fail you, month after month, it is time to adjust your approach and consider the changes you can make for the better. Here are three...
LongTermCare.gov defines long term care insurance as follows: “Unlike traditional health insurance, long-term care insurance is designed to cover long-term services and supports, including personal and custodial care in a variety of settings such as your home, a community organization, or other facility.” At some point, particularly as you age, you may consider purchasing this type of policy. It is not a decision everybody makes, but it is one that deserves your attention at some point. With...
Just because you have less than ideal credit doesn’t mean you will never be able to purchase a new car. This may bring additional challenges to the process, but there are steps you can take to improve your situation and increase your chance of driving off the lot in a shiny new vehicle. Here are three ways to secure a new car loan with bad credit: 1. Start the preparation process as soon as possible. With...
As a college student, there is nothing more exciting than the summer months. This is a time to unwind. This is a time to think about the year to come. Of course, it is also a time for you to realize that nothing lasts forever. Before you know it, the first day of the fall semester will be here. There is no better time than now to prepare financially for the fall semester. It may be...
