A credit score is a snapshot of your credit accounts, balances and payment history at a specific moment in time. When a creditor requests your credit report and an accompanying score, the credit bureau sends a copy of your report, and a score is generated based on that report. Any change in the underlying report, or even the passage of …
Read More »Monthly Archives: December 2022
Does Prequalification Hurt My Credit Score?
Whether you need a loan to purchase a home or car, or you’re in the market for a new credit card, you’ll want to take the time to see if you prequalify. Prequalification provides consumers a way to find out what their chances are of being approved for a new loan or credit product before filling out an application form. …
Read More »27 Loan Terminologies You Must Know
Using a loan to finance an expense—whether it’s for an automobile purchase or home improvement project—can be a smart decision. However, if you’re not familiar with certain loan terminologies, you might be at a disadvantage when it comes to evaluating a loan or comparing loans from multiple lenders. Below are common loan terms that’ll help you expand your loan vocabulary so …
Read More »How to Pay Off Debt Faster
Debt doesn’t only cause undue financial stress. It can also make everyday living less enjoyable when a significant portion of each paycheck goes toward debt repayment. Paying off debt faster can undoubtedly save you money, but it will also allow you to focus on your broader financial goals sooner. Below, you’ll find seven ways to quickly pay off what you …
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