There’s no question that paying your bills on time is the most important rule to follow when it comes to earning great credit. Yet even a flawless payment history won’t result in the perfect credit score. Believe it or not, 65% of your FICO® Score has nothing to do with whether you make your monthly
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Home improvement shows make flipping houses look so simple, don’t they? You buy a cheap home, slap some fresh paint on the walls, and then you turn around and sell it for a huge profit, right? While house flipping may occasionally work this way – let’s not make the exception the rule. The reality is
Cars are expensive. Ordinarily, they’re expensive enough that consumers resort to loans to pay them off over time. Particularly ambitious buyers, however, may pay for their cars with cash, so they own them from the get-go and avoid going into debt. But somewhere in between those crowds are the folks who buy cars with credit
You may have received a few credit card offers with a 0% Annual Percentage Rate (APR) on new purchases and balance transfers. Or maybe you’ve been offered special financing when you make a large purchase so you can pay it off over time with “no interest.” Most credit card companies make money from interest fees (financing charges)
Whether you’re looking to take the leap into buying your first home or looking to upsize from your current property, you’ll probably need a mortgage to purchase the home. There are lots of different variables to consider as you apply for a mortgage. Your income, debts, savings and career plans should all factor into the decision.
Loans Are Not Usually Free, but Credit Cards Can Be Whenever you get a loan, you’ll usually have to pay interest. Even though credit cards are a type of loan, you can avoid interest fees completely with most cards. Interest is a fee you pay for borrowing money from a lender. Most of the time, the
Are you suffering from buyer’s remorse because of some recent purchases you’ve made? Do you want to know how to cure it? Drive back to the mall and return some things. As long as you’ve complied with the retailer’s return policy, when you return the item the retailer will generally issue a refund equal to the cost of
The year 2020 will be burned into our collective memory for many reasons. It was a year filled with headlines. So, if you missed it then, the financial news highlighted that FICO® released its newest credit score, the FICO® Score 10. Nonetheless, FICO®’s newest credit scoring system (the FICO® Score 10 Suite) is noteworthy in
Do you have plans to apply for a new credit card in the near future? Maybe you’re considering a new auto loan, mortgage, student loan, or personal loan. Regardless of the type of financing you are seeking, your creditworthiness will play an important role in whether your applications for credit are approved or denied. What
Your credit reports are full of sensitive, personal information — information that could be quite harmful if it fell into the hands of the wrong people. In a world where over 1.6 billion records were exposed through data breaches last year alone, being proactive about your credit privacy is not only smart, it’s downright essential. Although it’s impossible to keep
So you’ve heard the word “FICO®” before. Maybe from your mom, who’s always telling you to “stay on top of your FICO® scores.” Or maybe from your prospective landlord, who wants to “check your FICO®” before he’ll let you live in his apartment. But what does FICO® stand for? And why is it so important?
We’ve got a secret — a secret credit card issuers don’t want you to know about. Wanna know what it is? If you pay your bill in full each month, you won’t ever have to pay interest on purchases with most credit cards. That means you can get the perks and convenience of using a
Sometimes everything happens at once. Let’s say you’re a passionate entrepreneur with a small business that’s finally ready to scale up with the right financing when you learn that your family is about to grow, and you need a bigger house. Applying for a mortgage and a business loan at the same time is a
Paying for higher education tends to be expensive. And student loans are a popular way to pay for college, graduate school and other types of education. Over 40 million people get help paying for higher education with federal student loans.[1] Sometimes, life gets in the way of people paying back their student loans. You may
If you have a student loan, you’re a member of a really, really big club. Over 40 million people have student loans to help with the expenses of higher education.[1] But what does having student loan debt do to your credit score? Student loans can make your credit score go down, but they can also
As the clock ticks toward the May 1 restart of federal student loan repayments, you may be wondering how to make your monthly payments more affordable. And even if you weren’t able to take advantage of the pause on student loan payments because you have private loans, you might be wondering the same thing. Consider
When you start the home buying process, it’s a good idea to get preapproved for a mortgage. After finding a lender you trust – and finding a mortgage with the right terms – you’ll go through the preapproval process. Once you’re preapproved, the lender will hand you a mortgage preapproval letter. You can add the
There are two main types of credit accounts: revolving credit and installment credit. When it comes to revolving credit, think credit cards. When it comes to installment credit, think mortgages or personal loans. Our guide covers the ins and outs of installment credit: what it is, how it works, how it affects your credit score
Student loans can help you pay for your education when you aren’t able to pay for it all on your own. But just like any loan, they come with an interest rate that ultimately determines how much money you’ll pay over the life of your loan. FYI: On December 22, 2021, the U.S. Department of
Getting ready to continue your education after high school is exciting, but it’s the rare student – or parent or guardian of a student – who isn’t stressed over how to pay for college. Even if you’ve already applied for grants and scholarships and you’ve filled out the Free Application for Federal Student Aid (FAFSA®),
You’ve been accepted into college and you’re excited about it! But now you have to figure out how to pay for it and you’re a little less excited about that. You’re not alone. Most new students face the burden of college prices and may not be all that sure about what to do next. We
Let’s imagine two people standing apart from each other, at least arm’s length apart. It might be safe to imagine they don’t know each other very well. Now, let’s imagine a second couple. They are standing close to each other, maybe even arm in arm. It might be safe to assume they know each other
If you’re shopping for a home, getting a mortgage loan can be the largest hurdle standing between you and your dreams. With so many types of mortgages available, it’s easy to feel lost when trying to decide what loan is best for you. One big question for borrowers (especially first-time buyers) is whether a Federal
If you’re thinking of refinancing your mortgage, auto loan or your student loans, you may be wondering if it will affect your credit. The short answer is yes. But the good news is that the impact won’t be major or last too long. Want to refinance and keep your credit in good shape? Read on
You’ve found it – the perfect home. From the molding to the skylights, it’s everything you’ve ever wanted. Just as you’re getting ready to put in an offer, the listing changes. Now it’s listed as “under contract.” Is this the end of your real estate romance, or is there a chance you and your dream
For most people, a home is the largest single purchase they’ll make in their lifetimes. It comes with upfront expenses like closing costs, down payments and potential repairs or upgrades. These additional expenses can easily add tens of thousands of dollars to the upfront costs of buying a new home. You may think that saving the
A multiple listing service (MLS) is a database real estate agents and brokers create, maintain and pay for. Because it’s a collaborative tool, it makes transactions easier for all parties involved in the sale of real estate. Real estate brokers can see each other’s listings, schedule showings and easily connect buyers and sellers. The MLS
Imagine this: Your search for a home is over, and you’re ready to embark on your home buying adventure. You’re preapproved (or approved) for a mortgage loan, and you’ve got a purchase agreement in your eager hands. You put the contract down long enough to calculate the final cost of buying the home – and
While your higher education was invaluable, the residual student loan debt may feel overwhelming, haunting you like a ghost. Many student loan borrowers look for creative solutions to banish their debt – but it isn’t always easy. Student loans eat into your budget and incur interest throughout a loan’s lifetime. And if you can’t pay
Your education is precious and will help prepare you for a career. And whether you’re an undergraduate student, a graduate student or you’re pursuing a certification or license, higher education isn’t always affordable. Enter student loans. Think of them as superheroes that swoop in and help you pay for your education. There are two primary
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