If you have bad credit, you may believe that your score is doomed to always suck. In fact, some people have lost hope and think they are doomed to wait 7 years for old accounts to fall off. While it does take up to 7 years for bad credit reporting to fall off of your […]...

It’s important to know common terms in the credit world. From APR to credit utilization, not knowing what these terms mean could cost you big time later. Check them out: APR stands for annual percentage rate. While you may have heard that term before, most people aren’t sure what that consists o...

Credit Utilization is how much of your available credit you’re using. You calculate it by dividing the total credit card balances by your total credit card limits. Then you multiply it by 100. It will give you the percentage. Do your best to keep your credit utilization below 30%. Lenders will use...

Credit mix is a term used to describe the different types of credit that make up your credit report. From credit cards and student loans to mortgages and auto loans, your credit mix has an impact on your credit and makes up for 10% of your credit score....

More than likely, you’ve heard of a hard inquiry on your credit report. This is when a business/lender “pulls” your credit report to review your credit history. A hard inquiry can lower your credit score. There’s another kind of inquiry called a soft inquiry. It doesn’t affect your FICO sc...

Most of your credit report is made up of your payment history. Your payment history tells lenders what your track record is regarding paying debtors back. This will also determine whether or not you’ll get approved for a loan or not. This history includes a listing of all your different accounts a...