February 10, 2022 Shawn Lane Consumer Credit Expert For many people, credit bureaus seem like static, unchanging entities. It would certainly be comforting to think that the organizations in charge of determining credit scores have everything under control. But these companies are anything but perfect – and that may be putting it mildly. Credit bureaus have been receiving an increasing …
What Consumers Don’t Know about Free Credit Score Companies
November 2, 2021 Shawn Lane Consumer Credit Expert If you’re trying to actively monitor your credit, paying for a copy of your credit score can be a frustrating expense. In this situation, companies offering a free copy of your credit score probably seem like a godsend. But while these services can show you a free credit score, it might not …
Do you need good credit in retirement?
September 15, 2020Shawn LaneConsumer Credit Expert When most people think about financial planning, retirement is the logical finish line. You work hard, live within your means and save enough money to live out your days in peace and comfort.But you don’t stop managing your finances after you retire – and that includes your credit. While your days of applying for …
Covid-19 and Credit
August 7, 2020Shawn LaneConsumer Credit Expert Credit is a game of trust. Lenders trust borrowers to pay their bills on time, and borrowers trust lenders to make good on the lines of credit they’ve extended. When times get tough, that trust is put to the test. As the economy continues to struggle due to fallout from the Covid-19 pandemic, lenders …
How Good Credit Can Save You Money on Insurance Premiums
July 9, 2019 Shawn Lane Consumer Credit Expert The benefits of good credit are seemingly endless. There’s the obvious — good credit can help you to qualify for loans, credit cards, and other types of financing. Solid credit can also help you pay lower interest rates when you’re approved. But low rates and high approval odds are only the tip …
Free Credit Freezes: Do You Need Them?
October 18, 2018 Shawn Lane Consumer Credit Expert There is no surefire way to keep your personal information safe and protected. The Equifax Data Breach of 2017 alone exposed the sensitive, personal information of some 143 million consumers in the US. The Under Armour data breach, which occurred in the spring of 2018, exposed another 150 million consumer records as …
The Cost of Poor Credit
August 14, 2018 Shawn Lane Consumer Credit Expert You work hard to earn an income. Wasting that money is the last thing you want to do. If you have bad credit, however, wasting money is inevitable. Bad credit is incredibly expensive and the cost of bad credit is compounded the longer your credit remains in poor shape. Believe it or …
Is There a Grace Period Before a Late Payment Will Hurt Your Credit Scores?
September 18, 2018 Shawn Lane Consumer Credit Expert You are working hard to clean up your credit and dig your way out of the hole when, all of a sudden, you are faced with an unexpected financial setback. Sound familiar? If so, you may find yourself asking the question “How late can my payments actually be before they hurt my …
Which Debt Should I Pay Off First?
August 28, 2018 Shawn Lane Consumer Credit Expert So you have come into some money (or perhaps freed up a bit of room in your budget) and you are ready to start paying down your debts. Now you just need to choose where to start. Which debts should you pay off first and which ones can wait for later? The …
How Co-Signing Impacts Your Credit
July 25, 2018 Shawn Lane Consumer Credit Expert Most credit questions asked of me can be answered exactly the same. “It depends…” Question: How will an inquiry impact my credit? Answer: “It depends” Question: How will opening a new credit card impact my credit? Answer: “It depends” Asking how co-signing impacts your credit is no exception. The effect which co-signing …