Does Inflation Affect Your Credit Score?

In recent months, inflation has been a major topic in the news with rising prices putting an additional financial strain on Americans.  If you’re worried about the effect of inflation on your finances, you’re not alone. But if you’re concerned that inflation could...

Does Over Drafting Affect Your Credit Score?

Even though credit cards are one of the most common ways of making transactions, not many people understand the mechanism through which they work. That’s why credit cardholders can, unfortunately, make bad financial decisions that can ultimately lead to being stuck in...

What Are The 3 Types of Debt?

Americans are familiar with debt. Around 80% of them are caught in the chains of debt with that debt totaling a record $14.96 trillion, according to the Federal Reserve. Before we get into the details, debt is owing money to anybody for any reason. If you have debt,...

Does Layaway Affect Your Credit Score?

When you need to buy an item, but you don’t have the cash to buy it outright, you still have a few options to make the purchase. One of the most common methods is a credit card, which allows you to receive the item immediately and pay it off over time. Another option...

Here are the Top Ten MyScoreIQ Blogs of 2021

Strong credit can convey many lifelong benefits, from helping you access the credit and loans you need to saving you money with lower interest rates and even insurance premiums. But maintaining good credit is also a lifelong effort that requires you to diligently...

New Year’s Resolution: Stop Doing These 5 Things That Are Negatively Impacting Your Credit Score

With the buzz of the holidays, it’s easy to overlook that 2022 is just around the corner. And with the New Year comes new resolutions. If you are among the segment of Americans looking to tap into the hot housing market, purchase a new car or work toward other credit...

Does Venmo and Other Money Transfer Apps Affect Your Credit Score?

Paying a friend back is easier than ever now. With the rise of money transfer apps such as Venmo and PayPal, sending money from one place to another is quite literally as easy as clicking a button. For this reason, money transfer apps have quickly gained traction as...

What’s the Ideal Credit Score to Buy a Car?

Ready to purchase a new vehicle but worried about getting approved for a car loan? There are multiple items that lenders consider when deciding to approve an auto loan. One of the most important items is your credit score. A credit score is a number that’s based on...

How Holiday Credit Card Spending Can Affect Your Credit Score

Holiday expenses can stack up quickly, with gifts, food and travel costs all contributing to your spending. But if you’re charging all your expenses to a credit card and planning to pay it off later, there can be consequences for your credit score. Make sure you’re...

How Do I Budget for Holiday Shopping?

Holiday shopping is always a stressful experience. One reason behind this is the delays and shortages in the supply chain that start to occur near the holidays. As a result, there can be severe product shortages and price increases when the supply chain is not working...

Recent Articles

Does Shopping Around for a Mortgage Lower Your Credit Score?

Does Shopping Around for a Mortgage Lower Your Credit Score?

The term “shopping around” doesn’t just apply to getting the best deals on winter clothes or home appliances. It's an excellent idea to shop around when finding the right mortgage loan to buy a home. Getting mortgage preapprovals from multiple lenders can help you find the loan that’s right for you, preferably with the lowest interest rate possible. This can pay off big in the future, as a lower interest rate can save you thousands of dollars...

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4 Credit Myths About Late Payments

4 Credit Myths About Late Payments

Payment history is the single most important factor that makes up your credit score. Paying all your bills on time builds a positive credit report, demonstrating that you are a low-risk borrower who can responsibly manage your credit. On the flip side, late payments on your credit report can significantly lower your credit score and indicate that you have trouble managing your finances. Here are four myths you can’t afford to believe when it...

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Does Marriage Affect Your Credit Score?

Does Marriage Affect Your Credit Score?

When you get married, you agree to share your life with the one you love. However, does getting married mean that you’ll also share other parts of your life, like your credit score?  If your partner has a poor credit score, do you know if that impacts your credit? Here’s what you need to know about your credit after getting married. Do You Share a Credit Score with Your Spouse After Getting Married? Even after you’re married, your credit score...

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How Frequently Should You Check Your Credit Score?

How Frequently Should You Check Your Credit Score?

A credit score is a number that predicts the likelihood that you repay a loan on time. A few different scoring models are used for credit scores, but the range for most models is between 300 and 850.The average credit score is 711. Lenders use your credit score to decide whether to approve a loan and to determine the term and interest rate for your loan. It’s important to regularly check and know your credit score so that you’re aware of any...

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How Is Your Credit Card’s Minimum Payment Calculated?

How Is Your Credit Card’s Minimum Payment Calculated?

When it comes to your bills, the minimum payment on your credit card statement is one of the most important numbers you need to pay attention to. If you carry a balance on your credit card, the card issuer can calculate a minimum payment that you must make that billing cycle to keep your account in good standing. The minimum payment is the lowest amount you are allowed to pay to stay current. The amount of your balance can affect how it is...

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What You Need to Know About Employer Credit Checks

What You Need to Know About Employer Credit Checks

When you’re looking for a new job, you probably already know you need to polish your resume, practice your interview skills and put together a list of positive references. But there’s something else that might affect your ability to get hired: your credit. Many employers perform background checks on job candidates, including checking their credit reports. But they can’t see the same information that a lender or creditor can see when they pull...

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Why Secured, Business Credit is a Worthwhile Investment At Any Level

Why Secured, Business Credit is a Worthwhile Investment At Any Level

You may not know it, but business credit isn’t just for small business owners and those who work for larger corporations. In fact, if you are self-employed, doing business under your own name or have a side hustle going that earns you extra money, business credit can be an option you shouldn’t ignore. Business credit is important for several reasons. For starters, it’s a great way to keep your business finances separate from your personal...

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