What credit score is needed to buy a house?

Can I Buy a Home With Bad Credit? The Answer May Surprise You! If you’ve ever considered buying a home, then the word “credit” probably has a distinct significance for you. Having a decent credit score is a must when you’re looking to buy a new home, but for the uninitiated, what credit score is needed to buy a house? Why do you even need good credit in order to purchase a home in the first place? We’ll be taking an in-depth look at that question and many more in…

Read More

10 Steps to Repairing Your Credit. #7 Is Extremely Important

1. Get Your Credit Report [wp_ad_camp_4] The first thing you should definitely do is to get a your credit report from the three bureaus.  Federal law dictates that you are offered a free credit report once a year.  If you already know your FICO score, then a free annual credit report will suffice.  However, if you want to know your exact credit score, the free annual report will not give it to you.  However, many credit cards offer free monthly credit score and reports.

Read More

10 Credit Cards for Those With Bad Credit

1. Credit One Bank Credit Card With Gas Rewards [wp_ad_camp_4] As far as credit cards for bad credit goes, this credit card isn’t too shabby.  The interest rate ranges anywhere from 17.90-23.90%, depending on the prime rate.  This card features a 1% gas rewards, automatic credit line increase reviews, and free online credit score tracking.  Like many of the other credit cards in the same niche, it does have an annual membership fee. Fees and Rates: $34 to $75 annual membership fee $19 authorized user participation fee $5 or 8%…

Read More

Credit Card Churning 101

[wp_ad_camp_1] Credit cards, when used with care, can yield amazing benefits. One of the main benefits are the travel perks.  If you have good credit, there are many credit cards out there that are willing to give you free flights and hotel stays if you sign up with them.  There is a small community of people who travel on the credit card company’s dime all the time—they are called credit card churners. Credit card churning is the practice of signing up for credit cards that offer large sign-up bonuses, and…

Read More

How To Consolidate Debt

[wp_ad_camp_1]If you are in debt that is over your head, there may be some debt relief options for you.  Debt consolidation loans can be a great way to lower your interest rate and also lower the monthly payments on your debt obligations. Sometimes it can be your savior and the best way for you to avoid bankruptcy.  It can be a vehicle for getting out of debt if done right.  Here are some tips you need to know on how to consolidate your debt.

Read More

Ways to Get Your Credit Report for Free

Your credit is extremely important to your financial prosperity.  It enables you to used leveraged money to buy a house, get a credit card, or buy a car.  So it is extremely important that you check your credit report often to see where you stand and if there are any discrepancies in the credit reports.  There are many ways to get your free credit report.  Below, here are several of the ways you can do so.

Read More

How to Write a Good Credit Dispute Letter

[wp_ad_camp_1] Writing a credit report dispute letter to the bureaus (Equifax, Experian, and Transunion) is an extremely effective technique for clearing past due items, charge-offs, and collections from your credit report—and consequently raise your FICO score.  The Fair Credit Reporting Act (FCRA) gives consumers the right to verify their credit report.  Only write to credit bureaus when you find yourself at least 30 days late with your creditor and the account shows up as past due on your credit score.  This is the same exact method credit repairs services are using when you…

Read More

Perks of Having A Credit Card

[wp_ad_camp_1] A lot of people use a credit card and think that the only perk to having one is that you can pay for things you buy later.  However, that is definitely not the only advantage to having a credit card.  In fact, besides all the rewards cards, there are also a lot of perks that comes standard with every credit card.  Again, these are perks that everyone is entitled to; all you have to do is ask.  Here are some of the perks available to you if you would…

Read More

How Your Credit Score Is Calculated

[wp_ad_camp_1] Fair Isaac (the company that invented the FICO scoring system) does not give out the exact formula for computing your FICO credit score.  However, we do have something to work with—the factors that weigh on your credit and its exact percentages.  Your credit score is calculated using the following five factors.  They percentages is how heavily it weights on your credit score.

Read More