Category: Credit 101

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Why does your credit score matter to mortgage lenders?

It is well known that you can hardly get the best mortgage rates without a good credit score, which means you will end up paying a lot more interests over the term of your mortgage. Even the difference between 0.25% can add up, especially for a 30-year mortgage …

The Myths of Credit Score

Most of us do not understand or know what our credit score. Your credit score is the most important piece of information in your financial life. The owners, lenders, insurance companies, power companies and potential employers have all your credit score under the microscope. That said, you should …

Are You Blacklisted by Credit Bureaus?

Let’s say you are what most people would consider a good person. You help out in the community, volunteer to help others and even show up on the front row for church every Sunday. You recently applied for a home loan and to your surprise were denied. How …

What does a FICO score stand for?

Realtors and lenders are almost as bad as computer tech people at tossing out words and phrases you don’t understand. The funny part is, sometimes even they don’t know what those words really mean. FICO is one of them. It’s not really a word, but the initials that …

What should you read in a credit report?

Reading credit reports can be very confusing. A credit report is divided into four sections: Identifying information, credit history, public records and inquiries. Identifying information: Well, just that—information to identify you. Here’s where you will find your name, social security number, address, date of birth, drivers license number, …

A Credit Report Could Be Worth Thousands

Why A Credit Report Could Be Worth Thousands? Because your report includes information which will literally affect all aspects of your daily life, like what car you drive, where you live, your employment even how much money you can put away for your children’s education etc. If your …