August 23, 2022 Shawn Lane Consumer Credit Expert For many people, a home is the largest purchase they’ll make over the course of their lifetime. That’s why getting the lowest possible interest rate on a mortgage is so important. To do that, you’ll need to get your credit score as high as possible. There are no quick, overnight fixes for …
How Credit Bureaus Are Mishandling Customer Disputes
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 …
Can Holiday Spending Hurt Your Credit Score?
January 6, 2022 Shawn Lane Consumer Credit Expert The holidays are not a time to pinch pennies. There’s nothing wrong with loosening the purse strings, giving generously, and using this time to focus on friends and family instead of money. But you at least want to make it through to the end of the year with your finances intact, …
How does a credit card limit increase work?
November 18, 2021 Shawn Lane Consumer Credit Expert When you take on any form of debt, there are limits to how much money you can borrow. For a loan, that limit is represented as the total sum offered to the borrower. For a credit card, it’s represented as the credit limit.If you want the ability to spend more money with …
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 …
FICO vs Vantage – Which score will my lender use?
June 10, 2021 Shawn Lane Consumer Credit Expert You’re probably aware that a high credit score is the single most important factor in securing a loan. But did you know that you have more than one credit score? FICO and VantageScore are the two main credit scoring models used by lenders. They each take a similar, but slightly different approach …
Using Your Tax Refund to Improve Your Credit
March 11, 2021 Shawn Lane Consumer Credit Expert It’s easy to treat a tax refund like free money – and many people do. When a check for hundreds or even thousands of dollars show up in the mail, who wouldn’t feel like they’ve just won the lottery? But a tax refund is just that – a refund – and because …
Credit and Couples
February 9, 2021Shawn LaneConsumer Credit Expert With Valentine’s Day approaching, it’s natural to start thinking about all the factors that go into a successful relationship – trust, commitment, passion and a compatible approach to managing your credit.OK, that last one might be a stretch.But while talking about your credit score might seem decidedly unromantic, financial compatibility is a very real factor …
The Best New Year’s Resolutions to Improve your Credit!
January 7, 2021Shawn LaneConsumer Credit Expert New Year’s resolutions have a bad track record. They tend to fail, not through lack of effort, but because they’re usually too broad and overly ambitious. It’s difficult to formulate a strategy for a vaguely defined goal, and it’s even more difficult to stay motivated when your goal is unrealistic. That’s why financial goals …
How to Maintain Good Credit if You’ve Been Laid Off
November 5, 2020Shawn LaneConsumer Credit Expert 2020 has put a lot of people in financial positions they never imagined being in. Entire industries have dried up as a result of the Covid-19 pandemic, and even the most reliable jobs now carry the risk of being laid off or furloughed.Those who have never been in this situation might be worried about …