In order to have a credit score, you must have activity on your credit report. If there is no activity on your report, you cannot get a score. That’s why it’s important to have some type of activity every month. Activity does not mean you need to go into debt. You can make a small...
Here’s a great strategy to follow for using a secured credit card to build credit. Use it and your score will start to see an increase in about 6 months. 1 – Use the card every month for a very small amount like $10 or $20. 2 – Pay the balance in full and on...
There are plenty of ways to build your credit score: #1 – Get a secured credit card Getting a secured credit card is a simple way to start building your credit history. This card can help prove to lenders you can be responsible without a lender having to take much risk. #2 – Get a...
Sometimes a collection agency will agree to a pay for delete. This is also known as pay for removal and it is when a collection agency agrees to allow you to pay some or the entire amount owed and in exchange, the collection agency will delete the collection account from your reports. You’ll want to...
Before adding an authorized user to your account, be sure to establish rules around how to use the card. Some things to discuss with your authorized user include: • Will the authorized user have a physical card? • When is it acceptable to use or not use the credit card to make purchases or access...
There are several little-known benefits to adding an authorized user to your credit card account, including: •convenience •accruing rewards •sharing card perks and other benefits Many credit card companies offer lucrative bonuses and rewards for adding authorized users to your account. Adding another user to your account could add a few thousand extra reward points...
Millions of people with low credit scores may be seeing an increase really soon. Some serious tax liens and civil judgments will soon disappear from millions of credit reports. According to the Consumer Data Industry Association, tax liens and civil judgments will soon disappear from a lot of people’s credit reports. As a result, FICO...
Borrowers who need to build their credit profile can always turn to a tried and true method – the old-fashioned store credit card. Everyone won’t get approved for a store card, but the barrier to entry is very low. It won’t be hard to get approved. However, don’t expect lower interest rates. Because they are...
If you’re looking to build your credit profile while also gaining access to cash, a personal loan is a great option to consider. Agreeing to a personal loan means you get all of your money upfront and have a steady, predictable payment schedule to follow. This is a great alternative because now you know exactly...
Did you get an offer for a credit increase, and now you’re wondering whether it’s a good idea to take it or not? It may be a good idea, but probably not for the reason you think. It’s not a good idea to accept it if you want to be able to spend more money....
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