The Fair and Accurate Credit Transactions Act (FACT Act or FACTA) is an important piece of federal legislation passed in 2003 that has had a major impact on consumer rights and identity theft prevention. In this article, we’ll provide an overview of what the FACT Act does, its key provisions, and why it matters for … Read more
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Lowering your monthly mortgage payment can have a positive impact on your budget. But before you decide if refinancing is the right choice for you, take a look at some of the details. Making your monthly house payment can feel like a burden especially when money is tight. Fortunately you have options to lower your … Read more
A house is one of the biggest purchases you can make, so figuring out how much you can afford is a key step in the home-buying process. You’ll need to start by weighing how much money you have coming in — your monthly earnings from your job, investments and any other streams of income — … Read more
FICO® ScoresÎ and credit scores can be the same thingâbut FICO® also creates different products, and other companies create credit scores. You can think of a credit score as the general name for a computer model that analyzes consumer credit reports to determine a score. FICO® offers a specific brand of credit scoreâa FICO® Scoreâthat … Read more
Credit scores are like report cards from different teachers. They’re all grading the same student (you) but they weigh things differently based on what they think matters most. So if you’ve looked at all three major credit bureaus (Experian, Equifax, and TransUnion) and thought, “Why is my Experian score lower than the others?” you’re not … Read more
But many buyers find themselves caught out by what’s known as the 6-month mortgage rule, leaving them unable to refinance as quickly as they’d planned. Here’s what you should know about this rule, who it affects, and what options you have if you need to remortgage sooner. The 6 month mortgage rule is one of … Read more
Your credit utilization ratio is a measure of how much credit youâve used versus how much credit you haveâtypically expressed as a percentage. In general, having a lower credit utilization ratio is better for your credit scores. But how do you calculate your credit utilization? Whatâs considered a good credit utilization ratio? And why does … Read more
Ah, adulthood: an entire world of new possibilities and financial decisions. If you’re in the fortunate position of having steady income and a little bit in the bank, you may be wondering if you should buy a car or a house first. The answer depends on your own set of circumstances, but if you’re worried … Read more
In general, a personal loan refers to a small loan that borrowers can spend as they see fit. It can be useful for making big purchases or consolidating high-interest debts. Getting approved for a $50,000 personal loan is no small feat. Lenders consider loans of this size to be high-risk so you’ll need a strong … Read more