What You Need to Know About Your Credit

If you are like most consumers, you probably understand that your credit score is important. Creditors use your credit score to determine your creditworthiness. It allows them to calculate the risk they are taking if they choose to lend you money or extend you some other type of credit. A low credit score can cost you thousands of dollars in extra interest payments over the life of a car loan and $100,000 + over a typical 30-year mortgage.

It’s important to remember that your credit score is constantly changing. Your creditors submit payment information to the credit bureaus every month, which in turn use this information to re-calculate your score. A late payment, newly opened accounts, what types of credit accounts you have- all of these can affect your number. Your credit score is important. By understanding how it is determined and learning ways to build and improve your credit history, you can save thousands of dollars in unwanted interest payments and take advantage of better terms and rates when applying for new credit.

What Determines A FICO Score

Learn about your FICO credit score, how it is calculated, what factors affect it, and how a low credit score can prevent you from obtaining loans, renting an apartment, or even landing certain jobs.

Credit Factors

Various factors determine your credit score. You can learn how to raise your own credit score while avoiding common credit score pitfalls.

How to Build Credit

There are smart ways to build your credit if you are starting with none. And the rewards can mean big savings to you in the future, such as more favorable loan terms and lower interest rates.

How to File a Credit Report Dispute

The three main credit bureaus - TransUnion, Equifax, and Experian - all use the same basic information to determine your credit score. You have the right to dispute any inaccuracies that might be listed in your report.

How to Improve Your Credit

Your credit score changes frequently. Each month it is updated with payment information such as whether you’re on time, late or delinquent. Bolster and improve your credit by staying on top of what information is being reported and to whom.

Frequently Asked Credit Questions

Frequently Asked Questions on credit, credit scores, how they are determined and how to improve them.

Alternative Financing that Works

There may be other forms of financing you may not have originally considered. Let us point you in the right direction.

Minimum Credit Score for a Home Loan
Automobile Finance Options
Minimum Credit Score to Refinance Your Home or Automobile