Many credit card issuers offer personal and corporate credit cards, but these cards will often be very different. A small business card may have a higher annual fee, higher credit limit, different rewards earning categories, and more. They may also differ in credit reporting, scoring, and legal terms. It is essential to know these differences,
Tradelines can stay on your credit reports for up to 10 years after you close the account. However, suppose you have any negative remarks on the account, like late payments. In that case, the negative information falls off of your credit report seven years from the initial delinquency date. A tradeline consists of any account
When you fill out a rental application for a new apartment or home, the landlord often runs a credit check. So you might expect that your rental payments are shown on your credit report, but they are not. When you are building credit, there are rent payment reporting options out there that can add your
If you otherwise meet the qualifications for a no money down home loan, you may be wondering what kind of credit score you’ll need to receive approval. While no money down loans are backed by a third party that takes on much of the default risk, the loan itself is still issued by a bank.
If you are keeping a good handle on your finances, and your FICO credit score suddenly starts taking a nosedive, you might start to panic. You haven’t made any recent changes to your credit file in the way of opening new accounts or maxing out your credit cards. So why did your credit score decrease?
Do you pay for everything with cash or a debit card? If so, this is probably great for keeping your budget on track. Unfortunately, it also means you are not building credit history. If you are only ever using cash or a debit card for purchases, then you likely have bad credit or no credit.
Having collection accounts appear on your credit history is not good for your credit score. The repeated calls from debt collectors are not good for you mentally either. Paying the debt off will end the collection agencies’ incessant calls, but will it improve your credit score at all? Paying off collection accounts can be a
There are many types of tradelines that appear on your credit reports. A credit tradeline consists of any account you have with a lender or service provider. This can include credit cards, loans, and utility payments. Managing these tradelines well contributes to good credit. So if you have bad credit, taking a hard look at
A fight for the ages. Watch these two personal finance experts duke it out. Okay, just kidding, although that would be a match worth watching. Since we are unlikely to ever get these two together to prove their worth in a ring, octagon, or any other fighting arena, we’ll have to settle for letting their
What if I told you that you could get your FICO score for free? Well, you can. While many banks and credit cards offer free FICO scores, there’s one source where you can get your FICO Score 8 for free without signing up for a new checking account or credit card. How to Get a Free FICO Score
