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What Makes Up Your Credit Scores? Part 5: New Credit

June 4, 2019 Shawn Lane Consumer Credit Expert When you apply for a new loan or credit card, you give the lender permission to check your credit report. This credit report access is known as an inquiry. What you might be surprised to learn is that inquiries have the potential to hurt your credit scores. Keep reading for a breakdown of …

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What Makes Up Your Credit Scores? Part 4: Credit Mix

March 21, 2019 Shawn Lane Consumer Credit Expert Your credit scores are a tool lenders use to predict the risk of doing business with you. FICO credit scores specifically are designed to predict the likelihood that you will become 90 days late on any credit obligation within the next 24 months. When your credit scores are low, it can be …

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What Makes Up Your Credit Scores? Part 3: Length of Credit History

March 7, 2019 Shawn Lane Consumer Credit Expert You know your credit scores are important. They can make or break your applications for loans and credit cards. When you’re approved for financing, your scores can impact how much you’ll pay and the terms you are offered. Of course, you can know that your credit scores matter without understanding how they …

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What Makes Up Your Credit Scores? Part 2: Amounts Owed

February 21, 2019 Shawn Lane Consumer Credit Expert   Many people think that paying your financial obligations on time is all it takes to earn great credit scores. The truth, however, is that credit scoring is more complicated than that. Believe it or not, the majority of the points in your credit scores don’t have anything to do with how …

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What Makes Up Your Credit Scores? Part 1: Payment History

February 7, 2019 Shawn Lane Consumer Credit Expert Your credit scores are an important component of your financial wellbeing. Without solid credit scores, life can be a lot more difficult (not to mention more expensive) than it needs to be. The good news is that if you learn what influences your credit scores, you’ll be better equipped to improve them. …

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Signs You Could Need Professional Credit Repair Help

November 9, 2018 Shawn Lane Consumer Credit Expert Bad credit is not only embarrassing and frustrating, it can also close a lot of doors. With bad credit you could have a difficult time qualifying for loans, landing a job, securing affordable insurance coverage, or even providing a place to live for yourself and your family. In addition to all of …

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How to Rebuild Your Credit After a Bankruptcy

July 11, 2018 Shawn Lane Consumer Credit Expert Bankruptcy has its pros and cons. Chances are that you considered the facts, weighed your options, and did not choose to file bankruptcy lightly. Although bankruptcy can certainly hurt your credit, filing for bankruptcy does not mean that you have to be stuck with horrible credit forever. There are steps that you …

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3 Steps to Overcome Identity Theft

June 27, 2018 Shawn Lane Consumer Credit Expert Identity theft isn’t a 4-letter word, but it probably should be. If you have ever been a victim of identity theft then you are sure to agree. It is a scary unsettling crime, which can haunt you for many years, unless you take control of the situation. What Is Identity Theft? Identity …

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Why Paying Your Credit Card On Time Isn’t Enough

June 14, 2018 Shawn Lane Consumer Credit Expert Basic credit common sense tells you that paying your bills on time is essential to maintaining a good credit rating. What you may not realize, however, is that your payment history is only one component of good credit. Payment history absolutely matters, but keeping your payments on time alone is not enough …