If you’re a young adult just entering the world of credit, the first question that might come to mind is what is my starting credit score? When you’re first applying for a credit card – or any loan – most individuals wonder what number they’re starting their credit score journey from. If you’re in the same situation, we have a short guide below that details everything you need to know about your starting credit score. What Is Your Starting...

Refinancing your car could help lower your monthly car payment, but does it negatively affect your credit? Credit scores are important as they significantly impact your financial dealings. If you want to refinance your car but are unsure of its effects on your credit line, then here’s what you need to know. How to Refinance Your Car Loan? Refinancing your car loan means taking a new loan to pay off whatever is left over from the previous loan...

You may have heard the term “credit utilization ratio” or “credit utilization rate” before. Credit utilization ratio refers to the amount of revolving credit you currently use divided by the total available revolving credit.  Generally, you express the credit limit as a percentage. Here is more information on credit utilization ratio and how it plays an essential role in the perception of your credit profile. How Does Credit Utilization Work?...

Digital wallets make it possible to shop without using plastic cards. So, if you left your physical wallet at home, it wouldn't be a problem because you can still make purchases on your phone. Here's more information about a digital wallet and if it's right for you. What is a Digital Wallet? A digital wallet, also known as an e-wallet, is a system that stores the payment methods and passwords you use with various websites in one place on your...

Going cold turkey with your bank account isn't a bad idea if you're trying to curb overspending or if you're relocating. However, you don’t want to negatively impact your credit scores if you decide to say goodbye to your bank, right? All that effort in maintaining good credit scores on your credit reports can't go down the drain like that! How Closing a Bank Account Impacts Your Credit Score Your bank account isn't the only mediating factor...