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What is a credit score?

What is a credit score?A credit score is a three digit number, the most common type (FICO) ranges between 300-850, that shows potential lenders how likely you are to pay them back. This number is determined using your credit history which includes the num

Jun 28, 2021 |

How are credit scores determined?

How are credit scores determined?You have many different credit scores, but there are three that are by far the most impactful. The three major credit bureaus, Experian, Equifax, and TransUnion, each give you a credit score using the two most common forma

Jun 27, 2021 |

What is a good credit score?

What is a good credit score? FICO credit scores range from 300-850, and the ranges lenders use to judge scores goes roughly as follows:Exceptional: 800-85021% of AmericansVery Good: 740-79925% of AmericansGood: 670-73921% of AmericansFair: 580-66917% of A

Jun 26, 2021 |

What do use a credit score for?

What do use a credit score for? Having a good credit score can give you great advantages when trying to obtain loans and save you a lot of money over time, but there are many different reasons a good credit score is beneficial. The first and most obvious

Jun 25, 2021 |

Why should I start building credit soon?

Why should I start building credit soon?As mentioned earlier in the breakdown of how credit is calculated, 15% of your credit score is determined by the length of your credit history. Starting to build credit as soon as possible, even if you are not curre

Jun 24, 2021 |

What exactly happens when a mortgage lender checks my credit?

What exactly happens when a mortgage lender checks my credit?According to the Consumer Financial Protection Bureau (CFPB) A mortgage inquiry has a small, but negative impact on your credit score. You can shop around and have multiple inquiries for 45 days

Jun 24, 2021 |