Did you know that your payment history alone accounts for 35% of your credit score? This single factor determines more than a third of your creditworthiness. But there’s more to the story. Your credit utilization – the amount of available credit you’re using – ranks as the second most important factor, and keeping it below … Read more
Financial setbacks can happen to anyone, often when least expected. These events can significantly impact your credit score, whether it’s due to a medical emergency, job loss, or unexpected expenses. A lower credit score can make getting loans, credit cards, or favorable interest rates more challenging. However, credit score recovery is possible with the right … Read more
Wondering about mistakes that could ruin your credit score? Credit cards represent a valuable and convenient financial asset. When managed responsibly, they support consumers in enhancing their creditworthiness, funding acquisitions, and potentially gaining incentives like cash back or travel rewards. While these advantages are appealing, they carry significant risks if not handled with care. A … Read more
Almost everything significant in life requires you to have a good credit score. If you’ve been watching yours lately, you may notice it hardly moving, if it moves at all. It would help if you created a plan to proactively move toward a higher credit score, as every decision you make can affect it in … Read more
Are you wondering why your credit score is important and how you might improve it? At some point, you will most likely need to apply for credit. Then, when you apply for credit, you must demonstrate to your lender that you can repay the loan.  Lenders use a tool to build that trust, among other … Read more
Your credit score is a critical factor in your ability to get approved for a loan, lease, or credit card. But you’re at a disadvantage if you’re unsure how it works or what factors affect it. Knowing the ins and outs of your credit can help you strategize and plan the best way to improve … Read more
Checking your credit rating by using the credit score monitoring app from SoFi is the best way to get insight into your credit capabilities when looking for a loan. Also, credit scoring companies have their ways of figuring out the factors that determine your credit score. The main factors that affect your credit score include … Read more
Your credit score is one of the essential building blocks of your financial records. Without it, you can’t use financial products available on the market like loans, mortgages, etc. It’s like a crutch because getting almost any loan would be a breeze with a good credit score. For example, if you’re planning to buy a … Read more
Financial management may require you to rebuild credit, especially if you have gone through a tough financial time or lost your job. Consumer proposals may prevent you from having to file for bankruptcy but will require rebuilding credit We have gathered some tips to help you rebuild your credit score faster than you think. How … Read more
Are you wondering if you can fix your credit with bad credit loans? Indeed, your credit history reflects any applications made to a financial institution. A borrower’s relationship with lenders such as banks forms their credit history. A borrower who makes payments on time and in full ensures positive reporting. As a result, they have … Read more
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