Secured credit cards are the workhorse of credit building: nearly guaranteed approval, real bureau reporting, and a refundable deposit instead of a credit check standing between you and an account. But the difference between the best secured cards and the worst is enormous, and the worst ones are marketed hardest to the people who can […]
Best Secured Credit Cards: How to Choose One That Builds Credit Read More »
Corporate credit is the credit profile a company builds in its own name, scored under its EIN and separate from any owner’s personal file. The term is often used interchangeably with business credit, and for good reason: the machinery is the same. What people usually mean by “corporate credit” is business credit taken to its
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You formed the LLC, you have revenue, and the bank still said no. For most LLC owners the decline has nothing to do with how good the business is. It comes from a short list of fixable setup issues that make the company look risky, or invisible, to lenders. Lenders and credit bureaus verify your
Business Credit for LLCs: Fix These 9 Issues Read More »
A tradeline is simply any credit account that appears on a credit report: a credit card, a car loan, a mortgage, a business vendor account. Every tradeline tells the same short story, who opened it, how big it is, and whether it gets paid on time, and your credit score is essentially a grade on
What Is a Tradeline? (And How Tradelines Build Credit) Read More »
When it comes to money, millennials are different from previous generations in several ways, one of which is that they always want to increase their credit ratings. Note: the age-group figures in this article come from FICO’s 2020 dataset, the most recent full breakdown cited here. The national average FICO Score has since risen to
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You might be worried that you may not be able to buy a car if you have a poor or no credit history. Fortunately for you, that’s not the case. Poor or lack of credit does not have to get in the way of you acquiring a new set of wheels. No matter your reason
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Obtaining a credit card is commonly regarded as the first and most crucial step in establishing a credit history. If you have a credit history, and you are aged 21 years and older, you have a better chance of receiving a credit card with good benefits. Minors under the age of 18 can enrol as
How Old do You Have to Be to Get a Credit Card? Read More »
Most mortgage lenders will want to ensure you can afford to repay the loan they are lending you. Doing so entails analyzing how much you spend servicing debts relative to your income. It is formally known as the debt-to-income ratio or DTI. Having a high DTI reduces your chances of qualifying for a mortgage loan.
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Applying for a mortgage loan can subject your credit to all kinds of scrutiny by mortgage lenders. It makes the process of buying a home challenging. It may even halt the whole process. You’re probably searching for some tips to fix your credit score to buy a house. Your credit score influences the amount mortgage
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The credit score is crucial in obtaining a mortgage loan, that is why most prospective home buyers fear that theirs may be too low to acquire one. It has not only an impact on your qualification but also the interest rate to be charged. So, what is a good credit score to buy a house
What Credit Score Do You Need to Buy a House? Read More »