A Personal Finance Blog for Regular Folks
Your credit scores may be some of the most important financial numbers you have. Really. They can control the rates you get on loans; even determine if you get a loan, and so much more. You need to protect your credit scores and watch your credit reports like a hawk. These articles help you learn more about your credit scores and histories.
I hear a lot of people interchanging the term credit report with credit score.
I do it myself.
But there’s a Big Difference between the two. See how I bolded that there? That’s how important it is.
Knowing the details of a credit report vs a credit score will help you better understand your credit. And that can help you save money!
[Read more…] about Credit Report Versus Credit Score – You Better Know the Difference
By now, many of us know what a serious thing it is to protect our identities.
Identity fraud is a very real threat, and victims of identity theft find themselves fighting an uphill battle when it comes to fixing their credit, and sorting out other related problems.
However, many of us don’t think that our kids have anything to worry about. After all, they aren’t 18.
Unfortunately, there is information out there about children, too, and a growing rash of child identity theft reports could indicate that your child could be in trouble.
[Read more…] about Protecting Your Kids from Child Identity Theft
The most important aspect of your credit score is your payment history.
As a result, a late payment can have a profound impact on your credit history.
That late payment is recorded on your credit report, and the information in your credit report in turn influences your credit score. And, since your payment history accounts for 35% of your credit score, a late payment can make a big difference.
But how late does a credit card payment have to be in order to be considered late? Will your credit score really be dinged if you are one day late?
The answer depends on your own behaviors, as well as the policy followed by the creditor in question.
[Read more…] about Will a Late Credit Card Payment Affect My Credit Score?
You know that your credit is important.
From getting a mortgage, to buying a car, to getting the best insurance rates, your credit can impact how much you pay, and whether you get the loan you need.
Staying on top of your credit is important if you want to save thousands of dollars over your lifetime.
On top of that, identity theft is the fastest growing crime, and everyone is vulnerable.
No matter how hard you try to keep your information safe, there is no way to completely guarantee that you won’t end up the victim of identity theft.
One of the earliest ways to catch identity fraud is to keep tabs on what is happening with your credit.
Because good credit is such a concern, and because identity theft is a very real fear, many people turn to credit monitoring services. These services can help you keep track of whether or not your credit is improving, as well as notify you when someone opens credit in your name (and signaling that someone else might be using your identity).
But are credit monitoring services worth it? [Read more…] about Are Credit Monitoring Services Worth It?
One of the fastest growing crimes in identity theft.
It’s the theft of information about you — information that can be used by fraudsters to pretend to be you and get access to a number of perks using your good name.
Whether your credit card number has been stolen, or whether someone is using your information to qualify for a car loan, it’s possible for someone else to pretend to be you.
Your stolen identity can impact you and your finances.
Obviously, if someone steals your credit card information and makes purchases, that can impact your abilities to use your own financial resources — at least until you take action. If someone is using your card for purchases, you could be denied when you go to make purchases later. And, if someone uses your information to open a loan, it shows up as your debt in your credit report. If the fraudster isn’t making payments, it’s your credit that is sunk.
Once you realize that your identity has been stolen, it’s important to take action.
Here are the steps to follow as soon as you realize that your identity has been compromised: [Read more…] about Victim of Identity Theft? Here Are Your Next Steps to Protect Yourself
