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Category: Credit

You will make important financial deals with many people that don’t know you throughout your life — people like bankers or landlords. Since they don’t personally know you, to determine if you are a “safe” investment, they turn to a metric called “credit”. Your credit score is a measure of your financial reliability; the higher the number, better. There are three credit bureaus, Equifax, Experian, and TransUnion, who create your credit report, which is used to determine your credit score.

However, the credit system isn’t as simple as it might seem. Credit scores can plunge unexpectedly, your credit score might differ depending on who checks it, and there are several different agencies all governing different aspects of the credit business. In order to take control of your own finances, you’ll need to understand the role that the credit bureaus play in your life. It can be a nightmare for anyone to navigate on their own. Luckily, you don’t have to.

How to Rent Your First Apartment With No Credit

When you have no credit, it can feel like you are stuck, with few options, and struggling to move forward in your life. It can be difficult to get a credit card or a good car loan, which can be frustrating when these are the type of things you need in order to build credit. […]

The Future of Credit Reporting and Credit Monitoring

The Future of Credit Reporting and Credit Monitoring

On September 7th, 2017 the credit bureau Equifax announced a massive security breach. The press release explained that from May to July, hackers obtained the personal information of approximately 143 million Americans. The developments that followed the initial announcement were concerning, to say the least. Equifax offered a free credit monitoring service, which until outcry […]

Does My Landlord Report My Payment History?

Does My Landlord Report My Payment History?

Renting an apartment is a lot like having debt. You have monthly payments to make, and a deadline to make them in. If you miss a payment, you face an almost immediate risk of fees, penalties, and interest charges. Continue to miss payments or fail to pay altogether, and you might be sent to collections. […]

When Will People Check Your Credit?

When Will People Check Your Credit?

Your credit score and report are representations of how financially responsible you are. The higher your credit score, the better you handle your money and debts. Having a good credit score can give you flexibility in your finances, but it also can impact most major areas of your life. Many organizations, from banks to landlords, […]

How do Credit Report Companies Get My Information?

Credit bureaus

In today’s world, information is one of the most valuable things each person has. Businesses want it so they can better advertise to you, and criminals want it in order to steal your identity. We are told to hold our information tightly and to only give out information like birthdates and social security numbers when […]

Who Uses VantageScore and Who Uses FICO?

VantageScore vs FICO

Your credit score is an important facet of your financial profile — but there’s more than just one credit score out there. FICO and VantageScore both offer credit score calculations as a way for lending institutions and individuals to measure financial health.  Different institutions may prefer one or the other when deciding who to lend […]