When applying for a mortgage, lenders will carefully examine your financial history to determine if you are likely to repay the loan. An important part of this process is reviewing your bank statements and credit reports. This allows the lender to verify your income, assets, debts, and overall ability to manage finances responsibly. But do … Read more
A FICO® Score is a type of credit score typically ranging from 300 to 850 that companies use to evaluate your creditworthiness. Your FICO® Scores can impact your eligibility and offers when you apply for a loan or credit card and affect other areas of your life, like your options when renting or getting insurance. … Read more
According to the Government of Canada, a credit score is a 3-digit number that represents how likely a credit bureau thinks you are to pay your bills on time.1 It can be an important part of building your financial confidence and security.1 For example, building a good credit score could help you get approved for … Read more
In the past, certain actions like making a payment or acknowledging that you owe the debt could restart the clock on the limitations period. This created a problem where the statute of limitations could be constantly restarted. The issue is often referred to as “zombie debt.” In 2019, changes in the law aimed to protect … Read more
Some spouses keep their finances separate and under wraps, but other spouses are entirely transparent about their financial situations. In fact, some partners know so much about their spouses’ financial data that they could open credit cards in their spouses’ names. However, is it legal to open a credit card under a spouse’s name? Marriage … Read more
“Expert verified” means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Bankrate is always editorially independent. While we adhere to strict , this post may contain references to … Read more
Credit scores are an important part of your financial profile, as they give lenders an idea of how creditworthy you are. However, you may notice that the scores you see on Credit Karma don’t always align with other credit scores you encounter. This can leave you wondering – how far off is Credit Karma? There … Read more
Bankrate is always editorially independent. While we adhere to strict , this post may contain references to products from our partners. Heres an explanation for . Our is to ensure everything we publish is objective, accurate and trustworthy. Bankrate logo Founded in 1976, Bankrate has a long track record of helping people make smart financial … Read more
Right now, home equity levels are high for many homeowners across the nation. According to a recent Black Knight report, the average mortgage holder currently has about $199,000 in usable equity available to them. There are numerous factors that have contributed to this — including a shortage in available home inventory and increased demand due … Read more
When you’re barely scraping by month-to-month, getting out of debt can seem like a lost cause. When traditional debt reduction techniques (like the snowball and avalanche methods) aren’t working with your current paycheck, it can feel like you’re headed for a financial natural disaster. This doesn’t have to be the case. Break the cycle with … Read more