You need to check your credit report often. If you think you only need to think about your credit report when seeking a loan, think again. Your credit report is a valuable tool in identifying reporting errors and is even an early warning for identity theft. Being proactive in monitoring your credit score can help you resolve previous credit problems faster and help you avoid future credit problems altogether. When and How to Check Your Credit Report It’s recommended that you check your credit score at least once a year. There are … [Read more...] about Why You Should Regularly Check Your Credit Report
Your credit score isn’t going to increase on its own. Well, it might, but only for a little while before jumping back down again. This is how the unobserved credit score works. Without specific action taken to keep your Experian credit score on the up and up, it’s never going to get much altitude at all. People tend to get discouraged with their credit scores. After all, they think, I’m careful with my money. I guess there’s nothing else I can do. In fact, there are plenty of things you can do to boost your credit score. … [Read more...] about A Quick Experian Credit Score Workout
Many young people don't realize their credit score has a big impact on their ability to rent a home or apartment. Most landlords pull credit reports before agreeing to sign a lease, and a less than desirable FICO score can severely limit your chances of getting into a decent apartment at all, let alone at a reasonable price. 90% of top lenders use FICO® Scores. Insurance companies, too, often charge higher insurance premiums to applicants with poor credit scores. But do you have to let your negative credit score affect you in this way? Can … [Read more...] about Hidden Problems Renters Face with Their Credit Score
For years car insurance companies have used your credit history in order to help them determine the likelihood that you will file a claim on your car insurance. According to studies like the one conducted by the industry group, the Insurance Information Institute, drivers with low credit scores tend to file 40% more insurance claims with their car insurance companies. It is estimated that those with poor credit scores can find themselves paying anywhere between 20% and 50% more for insurance than someone with better credit. How Much Does Bad … [Read more...] about Does Bad Credit Affect Car Insurance Premiums?
Here is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured on an upcoming week’s blog post. If you're not familiar with Dave Ramsey's book, you should run right out and get it. It is one of my the best personal finance books that everyone should … [Read more...] about How to Prioritize Which Bills to Pay When You’re Struggling