If youve ever checked your credit score and wondered what it takes to reach a perfect 850, youre not alone. An 850 FICO® Score is the holy grail of creditworthiness, but what does it actually mean and does it even matter? While hitting 850 is an impressive milestone, you dont need a perfect score to … Read more
Your 810 FICO® ScoreÎ falls in the range of scores, from 800 to 850, that is categorized as Exceptional. Your FICO® Score is well above the average credit score, and you are likely to receive easy approvals when applying for new credit. Less than 1% of consumers with Exceptional FICO® Scores are likely to become … Read more
In addition to your credit score, your debt-to-income (DTI) ratio is an important part of your overall financial health. Calculating your DTI may help you determine how comfortable you are with your current debt, and also decide whether applying for credit is the right choice for you. When you apply for credit, lenders evaluate your … Read more
A credit score of 720 is right on the border between a “prime” and “super prime” credit score. Whether 720 is considered prime or super prime depends on the credit scoring model used. Let’s take a deeper look at what makes a credit score prime or super prime, and whether 720 meets the criteria. What … Read more
If youre considering closing one of your credit cards because you dont use it anymore, think twice before contacting your card issuer. While it might seem like holding fewer credit cards could help your credit, losing the available credit limit on the closed account can increase your utilization rate, which can hurt credit scores. If … Read more
It’s every home-owner’s worst nightmare. Already drowning in debt, and with a rampaging cost of living crisis causing many families to barely be able to make ends meet, they get a notice from their mortgage company that says something to the effect of: You have 30 days to pay back your entire mortgage balance in … Read more
An IVA (Individual Voluntary Arrangement) is a formal agreement between you and your creditors to pay back some of what you owe over a set period. It can help you take control of debt, avoid bankruptcy and protect your assets. However hiding a bank account from an IVA is risky and can have serious consequences … Read more
Your credit scores can differ for many reasons, including which scoring model is used, which credit report is used and timing of when score updates are made. Your credit scores can vary depending on the type of credit score, the credit report it scores and when the score is calculated. Its common for someone to … Read more
A 710 credit score falls into the “good” band and will qualify you for some credit cards and loans, but may not get you the lowest rates. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click … Read more
Dealing with long-term debt can be stressful; the thought of constant chasing from creditors can lead to feelings of anxiety, worry and even depression. However, the good news is, in the UK there’s typically a limitation period on many types of debt, including card debt and personal loan repayments. Of course, this does not mean … Read more