One of the most essential parts of building and maintaining credit is establishing tradelines. All of the credit that you have eventually boils down to tradelines. Today, we’re going to look into what makes tradelines so vital to your credit-building journey. The Importance of Tradelines Tradelines are at the foundation of your credit score and your credit reports. On your credit report, you’ll find information like: The name of your financial institutions The tradeline type The date when your account was opened The loan amount or credit limit The current balance on your account Your account’s payment history (which…
Credit repair is a process where a third-party organization comes in and removes negative information from your credit in exchange for payment. It’s important to understand that credit repair companies are for-profit companies. They market their services in a way that says they’ll help people improve their credit scores. At the federal level, credit repair is totally legal. The only state it is not legal in today is Georgia. There are many credit repair companies that say their services are made to help consumers get rid of unverifiable or inaccurate information from their credit reports. However, there are many credit…
If you’re looking to boost your credit, there are many routes you can take. From opening joint accounts to setting up automatic payments so that you pay your credit cards off on time, the list goes on and on. However, we often get asked about credit-builder loans and whether or not they can be advantageous. Today, we’re going to take a deep dive into the world of credit-builder loans to help you determine if they’re right for your needs. Should I Get A Credit-Builder Loan? If you have never used a credit card before or you have a…
Should I Make Use Of Debt Consolidation? If you’re looking to pay off your debt to take one step close to financial freedom, you may consider using debt consolidation. Of course, you may have heard the term debt consolidation thrown around, though you’re not sure what in the world it means. Today, we’re going to dive in and tell you all there is to know about debt consolidation so you can determine whether it’s the right tool for your needs. Understanding Debt Consolidation Debt consolidation is the process of taking out a single, large loan to pay off high-interest balances…
Debt Consolidation Or Credit Card Refinancing - Which Option Is Better? If you’re considering using a balance transfer to make use of credit card refinancing or opening up an installment loan to use debt consolidation, there are many things to note. It can be difficult to know which of these is the best option for paying off debt more efficiently. Here are a couple of things to note if you are trying to determine which debt management strategy is best for your needs. Do You Have a Good Credit Score? If you have a good credit score, note that getting…
How To Get A Credit Card Without Credit One of the most important factors when applying for a credit card is credit history. If you don’t have a history of credit, then your options will be limited. However, there are still “beginner” credit cards out there that you can choose from to help yourself establish credit. Continue reading as we discuss what you can do to get a credit card without credit. What Does Having “No Credit” Mean? Having no credit means not having a credit history. You’ve never paid for anything with credit, such as a car loan or…
The Pros And Cons Of A Secured Credit Card Trying to get a credit card to establish credit when you don’t have any credit at all can be a tricky situation. For this reason, people often look to secured credit cards to start building credit, which can be easier to obtain than unsecured cards, though require deposits Today, we’re going to look at the pros and cons of secured credit cards to help you determine whether or not getting one is the right choice for your needs. Pros of Secured Credit Cards Secured credit cards are great for those who…
The Pros and Cons of Credit Card Refinancing If you’re considering refinancing your credit cards to get a better interest rate, there are a few pros and cons to consider. Today, we’re going to dive in and tell you all you need to know about the good and bad surrounding credit card refinancing so you can make a decision that suits your needs best. Save On Your Interest Payments One of the main reasons that people choose to refinance their credit cards is to save on their interest payments. A credit card with a 0% APR will mean savings for…
Can You Buy A House Without Credit? Buying a home without credit or bad credit can be a challenge. However, it’s not an impossible feat by any means. When you purchase a home, you’ll want to have enough money to make a down payment and a history of paying your bills on time over the past couple of years. You will also need to meet the minimum credit score requirements of the lender. Higher credit scores typically earn more favorable terms on loans, though it is still possible to buy a home if you have bad credit or no credit…
How To Remedy A Thin Credit File If you have a thin credit file, it can be difficult to obtain financing. Even if you’re able to get financing, you’ll often face much higher interest rates. Having a thin credit file can have a negative impact on multiple aspects of your life, costing you big over many years. It’s in your best interest to fix your credit as quickly as you can. Here are a few strategies we recommend for beefing up a thin credit file. Apply For A Secured Credit Card One of the best things to do if you…