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Building Credit

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How To Build Credit Without a Credit Card

You don’t always need a credit card to build credit. It’s one of the easiest ways – but it isn’t the only way. One of the keys to building credit is to pay your bills on time. This is how you can establish a solid credit history even if you don’t have a credit card....

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2021 Survey: Revealing Habits and Misconceptions Ahead of Financial Literacy Month

April is typically recognized as Financial Literacy Month, but how often do we really stop and smell the roses? The roses, in this case, being the financial knowledge that we can take with us into May and beyond. The pandemic has certainly given us a new perspective when it comes to looking at finances and...

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What Is a Credit Builder Loan? Another Way To Build Credit

A credit builder loan is a type of loan created specifically to help people build credit. It’s actually a bit like a reverse loan. With most installment loans, like personal loans, you get the money up front to make a big purchase. Then, you start paying the same amount (an installment) each month until you’ve...

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How To Rebuild Credit: A DIY Credit Repair Guide

A damaged credit history and low credit scores can throw a big wrench into your financial life. It makes it harder (and more expensive) to get a loan or get approved for credit cards. Lenders will likely charge you higher interest rates to borrow money, and it’s likely you won’t be eligible for the credit...

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How To Build Credit: 5 Ways To Increase Your Credit Scores

Credit cards aren’t the only method you should use to establish and build your credit scores. To the contrary, while we can’t guarantee that a given credit-building method will get you the best results, it’s generally agreed that using a combination of tactics benefits your credit scores more than relying entirely on credit cards alone....

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How To Keep Your Credit Scores High During Retirement

As you begin to approach retirement you’re likely thinking more about wealth preservation than you are about credit scoring. Your borrowing days may be behind you. Even after retirement, however, your credit scores still matter for a variety of reasons, not the least being that your existing creditors will continue to check them from time...

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Do 609 Dispute Letters Actually Help? Explanation and Sample Letter

You have the right to expect accurate, error-free credit reports. Literally, it’s your federal right under the Fair Credit Reporting Act (FCRA). Yet, despite the credit reporting agencies’ best efforts to comply with the law, it’s no secret that credit reporting errors still occur. According to a study completed by the Federal Trade Commission, as...

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What Is Creditworthiness? A Definition and Explanation

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...

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The Definitive Guide to Building Business Credit

Business credit is pretty much like personal credit, but for businesses. If you understand how your personal credit reports and scores work, you’ll have a good idea of how business credit works too. But there are some important differences. Business credit reports and scores are completely separate from personal reports and scores. However, lenders will typically...

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Does Buying Tradelines Help Credit Scores?

Trying to boost your credit score? You’re in luck. Strategies abound for establishing or increasing credit scores. One approach that’s been around for quite some time involves becoming an authorized user (AU) on someone else’s credit card account. Being an AU on a well-managed credit card has the potential to improve your credit scores. The AU...

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How To Build Credit With a Credit Card

Are you new to credit cards? Do you want to understand how credit cards impact your credit history and how to maximize your credit scores? Remember, a credit card can be a 100% free way to build up your credit, as long as you use it responsibly. This is a guide to building and improving...

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Credit Unions vs. Banks: 4 Key Differences You Should Know

When choosing where to park your money, you’ve got lots of options. Big banks, small banks, holes in the backyard … and credit unions. Though you’ve probably heard the term before, you may have questions — questions like “what is a credit union?” and “what’s the difference between credit unions and banks?” Well, don’t worry,...

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How To Fix Your Credit With a Credit Repair Service

Some credit repair companies make seemingly outlandish and unbelievable claims such as “Get A 720 Credit Score in 30 Days” or “Erase Your Bad Credit in 2 Weeks – Guaranteed!” You don’t have to look very far to find a credit repair scam artist looking to rip people off with the promise of a credit...

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How To Boost Your Credit Score Fast: Improving Your Credit Rating

If you're worried about your credit score, learn what you can do to boost your rating quickly.

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What’s the Highest Credit Score and Why Does It Matter?

You may not realize that you have more than one credit score, or that credit card companies and other lenders use different credit scoring models. Generally speaking, the highest credit score in most consumer credit scoring models is 850, although there are less frequently used scoring models that go as high as 900. The old...

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