How to Start Business Credit with EIN
If you want to avoid a personal guarantee in your business financing, you need to build business credit with your EIN, and not your Social Security number. Follow these steps to achieve this! These steps assume that you already have a business entity setup, like an LLC or an S-Corporation, with an EIN tied to
What Credit Score is Needed to Buy a Car With No Money Down?
Lenders consider a variety of factors when making decisions regarding auto loan applicants. Among the key assessments include the prospective borrower’s credit, income, and down payment. Most borrowers with steady incomes will find options for financing a vehicle. This applies regardless of their credit score or down payment. What Credit Score is Needed to Buy
How Much Does Your Credit Score Increase After Paying Off a Car?
Although paying off your car loan is satisfying, it will not increase your credit score. Often, paying off your car loan will actually hurt your credit score. Closing an active account may negatively affect some factors that influence your score. These factors may include your credit mix and the average age of the accounts in
How to Get a Car Loan With Bad Credit
Consumers with bad credit typically face some challenges when seeking a car loan. These applicants usually have fewer loan options and pay high interest rates. Being prepared and thoroughly exploring your options is important in this process. Having proper documentation and cash upfront for a down payment are two of the most critical. Steps to
How to Raise Your Credit Score 200 Points in 30 Days
Raising your credit score by 200 points in 30 days is technically possible. Even though it’s not a realistic goal 99% of the time. Want to give it a shot? Let’s take a look at some helpful tips to get your score to where you need it to be. Tips to Raise Your Credit Score
How to Build Credit As a Teenager
Building credit can be a new topic for many teenagers. As such, there’s more to do than just diving into some of the credit-building activities you’ll find here. There are several key steps to the process that you will need to undergo to get started. Here are a few of the main areas to focus
How to Get a Business Line of Credit
Business credit is an invaluable tool for small businesses to leverage when they’re looking to scale. Let’s take a closer look at how to get a business line of credit so you can get started. Decide on How Much Money You Need The first step in getting a business line of credit is determining how
Do Multiple Car Loan Applications Hurt Your Credit?
Each car loan you apply for creates a “hard” credit inquiry on your credit report. Hard inquiries slightly harm your credit score. The credit bureaus will recognize when a consumer is “shopping around” for a car loan. If multiple inquiries occur before a 14 to 45-day period, they merge into a single credit report inquiry.
Can I Get a Car Loan With a Credit Score of 500?
Consumers with a 500-credit score usually find options for financing a vehicle. Unfortunately, these loan options typically feature exorbitant interest rates and other unfavorable terms. The prices of both new and used vehicles in the U.S. are higher than ever before. Thus, buyers with bad credit will get approved for car loans, but affordability is