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Category: Credit Scores

Whether you’re trying to buy a car, rent an apartment, or take out a small business loan, there’s one common metric that lenders will judge: your credit score. Credit scores can range from 300-850, and the higher your score is, the better. Dealerships, landlords, and banks use this score as an easy way to access how trustworthy you are, because, in the financial world, your word and your promise isn’t always enough.

Three major credit bureaus determine your credit score, and they rarely negotiate. One mistake can decimate your score, while it will take several years to climb back up. This can be particularly frustrating, as your credit score determines your financial success. If you’re aiming to understand your credit score more, there are plenty of resources available below.

What Your ZIP Code Says About Your Credit Score

What Your ZIP Code Says About Your Credit Score

You may be surprised as the things that can affect your credit score — everything from your income to the size of your family. Can your ZIP code affect your credit score as well? Knowing what affects your credit score is a critical part of improving your credit, which will help you to qualify for […]

Ways Divorce Can Affect Your Credit Score and How To Protect Yourself

How Divorce Can Affect Your Credit Score

Credit damage after a divorce is not uncommon. But what happened? Are the courts punishing you for having the gall to divorce someone and take their time away from a murder case? The short answer is no, divorce does not directly affect your credit score. The longer answer, however, requires some explanation. Divorce Proceedings First, […]

Can Having Children Hurt Your Credit Score?

Can Having Children Hurt Your Credit Score?

Having a baby is expensive, but will not technically cause a decrease in your credit score. However, having kids does strongly correlate with a dip in credit and a rise in debt. Medical bills alone could run in the tens of thousands, and that’s just for a healthy pregnancy with no complications. Add on numerous […]

The History of FICO and Credit Scoring Systems: How They Started

Credit reporting

Your credit score is important for everything from applying for a credit card to trying to rent an apartment, or getting a loan, borrowing to finance a car, or applying for a mortgage for a home. How did a number representing your ability to pay back a loan become so important? How did it start? […]

What Effect Does My Income Have on My Credit Score?

What Affect Does My Income Have On My Credit Score?

Your income does not directly affect your credit score. While having a decent income undoubtedly helps pay rent on time or pay down your loans, income itself is not responsible for a good credit score. In other words, just because you have a high income does not mean that you will have a high credit […]