Before approving an applicant, mortgage lenders will look at their income to ensure they have the ability to repay the money theyre borrowing. As long as your income comes from an acceptable source, it shouldnt prevent you from getting approved for a mortgage. If you receive Social Security income, you can use it to qualify … Read more
The steps you take to improve your credit score will depend on your unique credit profile. In general, its important to understand the factors that influence your score, including your payment history, amounts owed, length of credit history, credit mix and new credit. There are several ways you can improve your credit score, including making … Read more
Writing off bad debt can be an unfortunate but necessary part of running a business that provides goods or services on credit Here’s a closer look at what it means to write off bad debt and the impacts it can have. What is Bad Debt? Bad debt refers to money that is owed to a … Read more
Disclosure: This post contains affiliate links, which means we receive a commission if you click a link and purchase something that we have recommended. Please check out our disclosure policy for more details. Your credit score can open the door to helping you achieve many of your financial goals, like buying a house, renting an … Read more
When applying for the popular Citi Costco credit card, one of the most common questions people have is “what credit bureau does Costco pull?” Understanding which bureau Citi is likely to check can help you optimize your credit score and boost your chances of getting approved. In this detailed guide, we’ll break down everything you … 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
Having closed accounts on your credit report is common, but you may be wondering if it’s possible or advisable to remove them. In this comprehensive guide, we’ll explain everything you need to know about removing closed accounts from your credit report. Why Do Closed Accounts Remain on Your Credit Report? When you close a credit … Read more
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 website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and … Read more
A hard inquiry occurs when you apply for new credit and the creditor pulls your credit file. Hard inquiries stay on your credit report for two years, but they only affect your FICO Score for 12 months. A hard inquiry, also called a “hard pull” or “hard credit check,” occurs when you apply for a … Read more
When it comes to credit cards, “good” can mean a lot of things, but today, we’re talking credit limits. You know, the magical number that determines how much you can spend before your card gives you the cold shoulder. But what exactly is a good credit limit? Is it enough to cover a trip to … Read more