Getting calls from a collection agency is stressful. You may want to resolve the debt by paying the original creditor instead. But is this possible and advisable? Here’s what you need to know about paying original creditors versus collection agencies. What Happens When a Debt Goes to Collections? When you fall behind on repaying a … 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
Credit scores are a critical aspect of financial well-being, yet not all scores are created equal. Creditwise and FICO scores are two different models often used to assess creditworthiness. Understanding the diversity among credit scoring models is essential for navigating the financial world. FICO has dominated the market for years, but newer entrants like Creditwise … Read more
Purchasing a car is a major financial decision, one that often involves securing a loan to cover the cost. However, if a car dealer has lied on your loan application—whether by claiming a higher income or misrepresenting a better credit score—you might be stuck with a vehicle you can’t afford and a loan that could … Read more
Roughly 66% of cars financed go to borrowers with scores of 661 or higher, but those with lower scores have options. 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 to take an action on their … Read more
The challenges of owning and running a business are even steeper for people with a criminal record, a problem illustrated by the exclusion of many from last year’s Paycheck Protection Program. Having a criminal record can make getting credit more challenging. However, it is still possible to get loans and credit cards even with a … Read more
Getting a mortgage is one of the biggest financial decisions you can make. Your credit score plays a key role in determining whether you’ll qualify for a home loan and the interest rate you’ll pay So where does a 732 credit score stand when applying for a mortgage? In this comprehensive guide, we’ll explore what … Read more
As the average age for first-time buyers increases, more and more mortgage applicants are becoming concerned about upper age limits. While age may be a factor in your mortgage application, it is by no means a barrier to buying a home. Instead, applicants aged 40 and over may have to be aware that term length … Read more
Debt settlement, when you pay a creditor less than you owe to close out a debt, will hurt your credit scores, but its better than ignoring unpaid debt. Itâs worth exploring alternatives before seeking debt settlement. Debt settlementânegotiating forgiveness of a financial obligation in exchange for partial repaymentâcan ease financial burdens, but it will harm … Read more
The average credit limit in the U.S. was $29,855 at the end of the third quarter of 2023. It ranged from an average of $12,899 for Generation Z to $41,906 for baby boomers. The average credit limit on credit cards in the U.S. was $29,855 as of the end of the third quarter (Q3) of … Read more