There are things that we know would be reported on our credit reports such as credit cards, financed vehicles, a mortgage. However, there are certain items that CAN appear on your credit report that you may not be aware of that can affect your FICO score.   Business Credit Cards: Many times when opening a

The Impact of Bad Credit

Bad credit is something often talked about but seldom understood. Bad credit can impact plenty of factors in daily life and understanding how bad credit can hold you back can help you make better decisions about spending, budgeting and managing your own credit. First let’s understand credit scores in general. A FICO credit score is

7 Lessons in Making Life Affordable

Life is hectic.  Sometimes we feel a lack of control over our finances, credit and budget.  Here are some steps on how to make your life more affordable and plan for the future. #1 Always check your credit and stay on top of any impending problems or issues. #2 Create a budget.  Use a spreadsheet
Coming out of bankruptcy proceedings may initially bring you peace of mind because it is finally over.  But then you are hit with the next unfortunate phase of the process and that is trying to repair your credit. Even though many people have been through the bankruptcy system, many find it embarrassing and therefore, don’t
When you’re in the market for a credit card, it’s worth your time to shop around. The deal you snag now can pay off for years to come. But before you start comparing interest rates, fees, and rewards, you should review your credit reports and scores. The information in your credit report – and the
A simple slip or a serious health issue can result in thousands of dollars in medical bills. There are more than 45 million Americans without health insurance, nearly half of which have outstanding medical debts, averaging $9,000 per person. Even if you have insurance, you could end up with catastrophic debt or even in bankruptcy.

Nine Ways to Ruin your Credit

  1. Closing Old Credit Cards Age of File (or accounts) makes up 15% of your FICO score; Debt Utilization also makes up 30% of your score so by closing those old cards you lose potential points because you do not have as much credit available in addition to the fact that they will stop
  Buyer Beware: In the credit repair industry, there are three different styles of businesses.   Local “Mom & Pop” Shops: These local businesses typically have one or two part time employees that attempt to repair your credit. They are not true credit professionals and they do not typically keep up with industry changes. In
The majority of people who already know they have credit problems don’t know how to read their credit report or where to begin to fix it. Many try to repair their credit on their own and get discouraged by the process and give up. The difference between trying to fix your own credit score and