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Understanding How a Credit Card Limit Increase Works and How It Can Boost Your Credit Score and Financial Flexibility

Understanding how a credit card limit increase works is crucial for anyone looking to improve their credit health, manage finances better, or access more borrowing power. Your credit limit—the maximum amount you can borrow on your credit card—directly influences your credit utilization ratio, a critical factor in your credit score. In this post, we’ll break down what a credit limit …

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What is a Credit Builder Loan?

Shawn LaneConsumer Credit Expert Starting from the bottom is always hard. With no upward momentum, just getting started can feel like a monumental task.That holds especially true for your finances. Money tends to make more money, and good credit lends itself to even better credit. All the best loan products – credit cards, mortgages and personal loans, for example – require …

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How to Shop for a Mortgage Without Hurting Your Credit

Shawn LaneConsumer Credit Expert How to Shop for a Mortgage Without Hurting Your CreditWhether you’re buying a new home or refinancing an existing mortgage, shopping around for a good interest rate might save you money. At the very least, rate shopping can help you confirm you’re getting a good deal. But there’s an art to shopping for a mortgage if you …

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Do Medical Bills Damage Credit Scores?

Shawn LaneConsumer Credit Expert Lenders use credit scores to help predict risk. Credit scores are designed to calculate the odds that you’ll become 90 days late (or more) on any credit obligation within the next 24 months. The more likely it is that you might pay something 90 days late within that time frame, the lower your scores will be. …

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How to Add Positive Information to Your Credit Reports

Shawn LaneConsumer Credit Expert It’s important to make sure the information on your three credit reports is accurate. Errors and mistakes on your credit reports can potentially hurt your credit scores and make it difficult or even impossible to qualify for new financing when you need it. But what if positive information is missing from your credit reports? Is there anything …

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

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 are calculated. Our …

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

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 you pay your …

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How to Rebuild Your Credit After a Bankruptcy

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 can take to …