Recent Articles
The Looming Credit Crisis: How Student Loan Delinquencies Can Drop the Credit Score of Millions of Americans
Millions of Americans are on the brink of a credit crisis as student loan delinquencies are now starting to appear on credit reports for the first time since the pandemic. According to a recent analysis by the Federal Reserve Bank of New York, more than 9 million borrowers could see significant drops in their FICO® Scores in the coming months. This shift could have long-term consequences, affecting access to home and auto loans, credit card...
Do You Have to Pay a Loan Application Fee?
When you’re preparing to submit a loan application, the lender may inform you they charge a loan application fee. These fees reduce out-of-pocket processing costs for the lender and make their borrower transactions more profitable. Loan application fees are common for mortgages loans, auto loans and personal loans. But they aren’t universal. Not all lenders charge fees, and you may even be able to negotiate them down before you submit your...
What Are the Basic Types of Credit Cards?
IDIQ is not a bank, lender, tax advisor, or insurance company. Offers made on this page may come from our advertising affiliates, and we may earn a commission when you purchase products or services. There are many credit cards to choose from, which might be overwhelming. To select the right one for you, it's crucial to understand the different types available. This blog reviews four basic types of credit cards, each with its unique features and...
Can Old Addresses Be Removed from Your Credit Report?
It makes sense for your credit report to contain old credit account information or even loans you settled years ago. But, sometimes, you might be surprised to find old or inaccurate addresses. Don’t worry – most people often find themselves in this situation. So, why do old addresses appear on credit reports? Your creditors usually report your addresses and other credit information to credit bureaus that update your credit report. This means...
When Is Debt Relief Necessary?
Are you drowning in debt, struggling to keep up with payments? Debt relief can be a lifeline. But what exactly is debt relief? When is debt relief necessary? This article explores what debt relief is, the signs that you might need it, and the different options available to help you manage and reduce your overwhelming debt burden. We cover credit coaching, debt consolidation, settlement, and even bankruptcy, so you can find the strategy that...
Why Credit Monitoring is Essential for Veterans
Veterans and service members face unique challenges, especially when it comes to credit health. Strong credit is essential, as it affects access to important needs like housing, loans, and a secure financial future. Credit monitoring helps veterans and active duty service members overcome these challenges by offering early detection of credit issues, helping them to manage their finances and protect their financial well-being. Common Credit...
What Happens If You Go Over Your Credit Card Limit?
Trying to keep your spending under your credit card limit can be stressful. Sometimes, using up almost all of your available credit might be necessary. But what happens if you go over your credit card limit? Credit cards are crucial for managing daily expenses and building credit history. However, many people find themselves financially strained, teetering on the edge of their credit limits. All credit card holders should be aware of the...
What is Credit Monitoring and Why is it Important?
Credit monitoring refers to a tool that alerts you of changes in your credit report and credit scores. It’s a great tool if you want to work on your credit and financial health because it allows you to watch your progress and adjust your behavior to reach your credit goals.
How to Improve Your FICO® Auto Score
Looking to buy your dream car? Having a strong credit score is an important early step in the process. Your creditworthiness determines the terms of your auto financing, making it crucial to understand how to enhance and maintain a strong credit profile. The most popular scoring model lenders use for car purchases is the FICO® Auto Score, which measures how likely you are to repay car loans. This comprehensive guide helps you navigate the...
Does Debt Relief Hurt Your Credit?
Are you struggling with debt, overwhelmed by multiple payments? You're not alone. Many people find themselves in this situation, and debt relief programs may seem like a tempting solution. But before diving in, a critical question emerges: does debt relief negatively affect your credit? This guide unpacks the different debt relief options available, their short-term and long-term effects on your credit, and alternative strategies to consider...
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