Understanding the FICO vs VantageScore Debate When consumers check their credit, they often run into a common source of confusion: FICO vs VantageScore. These are the two most widely used credit scoring models in the United States, and while both generate a three-digit score based on your credit history, they aren’t identical. Because of this, you might notice your score …
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 …
Top Payday Loan Alternatives: Smarter Financial Solutions
When money is tight and the bills are piling up, many people turn to procuring a payday loan as a quick solution. But what feels like relief often leads to a deeper financial hole. If you’re looking for the best alternative to payday loans, you’re not alone—and you’re making a wise move. There are safer, more sustainable options that won’t …
Credit Repair That Works: Simple Steps for a Strong Financial Future
Credit Repair That Works: Simple Steps for a Strong Money Future! Everyone needs good credit. A better score means you pay less for loans. It helps with renting a home or getting utilities turned on without big deposits. When your credit is low, everyday things cost more. Missing a payment or having incorrect information on your report can cause your …
How to Boost Your Credit Before Getting a Mortgage
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 …
Common Credit Card Myths
July 7, 2022 Shawn Lane Consumer Credit Expert Credit cards have long been one of the most controversial topics in personal finance. For every piece of rational, constructive advice you can find on the internet, you’re just as likely to find 10 examples of misguided information or fear-mongering nonsense. Thankfully, it’s not that difficult to clear up fact from …
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 …