Understanding your credit score is vital to your financial health. Your credit score plays a major role in determining your eligibility for loans, credit cards, mortgages, rental applications, and more. Having a high credit score can save you thousands of dollars in interest payments over the lifetime of your loans. So how do you check … Read more
Your credit limit is a crucial aspect of your financial health, impacting everything from your credit score to your ability to make large purchases. At Peoples Bank & Trust, we believe in empowering our customers with the knowledge they need to manage their finances effectively. Heres a comprehensive guide to understanding your credit limit, how … Read more
What does it mean to get pre-approved vs. get pre-qualified for a mortgage, and what’s the difference between the two? Let’s take a look. Pre-qualification and pre-approval are two terms you may hear used interchangeably when shopping for a mortgage, but they are actually two optional steps you can take to start the loan approval … Read more
In this post, we’re talking about mortgage rates and if you can qualify if you have a late mortgage in your payment history. This is a situation that happens to a lot of folks, and we get calls all the time asking this question. In short, absolutely. It’s still possible to get a mortgage if … Read more
There are many refinancing options available for retirees, including programs from Fannie Mae and Freddie Mac. Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. … Read more
A debt validation letter is a document from a debt collector providing information about a debt you may owe. Collection agencies are required by law to provide validation notices and give you time to dispute the debt. If youve been contacted by a debt collection agency about a debt you may owe, its important to … Read more
For a score with a range of 300 to 850, a credit score of 670 to 739 is considered good. Credit scores of 740 and above are very good while 800 and higher are excellent. For credit scores that range from 300 to 850, a credit score in the mid to high 600s or above … Read more
Question: My spouse and I are separating after almost 20 years together. How can I expect the divorce to affect my credit history? Are there steps the two of us can take to separate our credit accounts and debts? Answer: When two people build a life together and combine finances for years, trying to separate … Read more
When it comes to building and maintaining good credit, there is one golden rule that rises above all others: pay your bills on time. Consistently making on-time payments is the most important thing you can do to keep your credit score high and avoid any negative marks on your credit report. Let’s explore why on-time … Read more
Theres no guarantee you will get to 720 in 6 months, but you can take the steps needed to there. For some, it may happen sooner than they expect. Read on to learn how to approach this credit milestone. Anytime you earn a credit score increase, itâs a good thing. But at certain credit score … Read more