If you’ve started the home buying process, you likely know how important a solid credit report is to securing financing from a lender. But, what happens to your credit after you buy a home? Does buying a house help your credit or hurt it? Let’s find out how your credit score is affected. Owning a … Read more
Understanding your credit report is an important part of managing your personal finances. Credit reports often appear cryptic, but the various alphanumeric codes indicate important parts of your financial status — including some, like code G or “collections,” that could have serious repercussions if neglected. Have you ever checked your credit report and come across … Read more
When you apply for a credit card, loan, or other financial product from Chase Bank, one of the key factors they consider is your credit score. Specifically, Chase uses FICO credit scores to evaluate applicants. But what exactly is a FICO score and why does it matter so much? In this article, we’ll take a … Read more
As the housing market heats up and more consumers consider buying a home, it’s important to consider the role that your credit score plays in your ability to secure a mortgage. Conventional mortgage lenders will typically want a FICO score of at least 720, or in some cases 740, but those with a score above … Read more
Buying a new car is an exciting experience. However, determining how much your monthly payments will be can cause some hesitation. When you’re considering a $20,000 car loan, it’s important to understand all the factors that go into calculating your monthly payment amount. In this comprehensive guide, we’ll walk through the key details you need … Read more
You’re ready to pay down your credit card debt, but you carry a balance on multiple cards. What should you do: Pay off one card? Which one? Pay them all down equally? Stagger the payment amounts? The following tips could help you understand how to pay off credit card debt and decide which credit card … Read more
Being debt-free means you donât owe any outstanding debt. However, carrying no debt other than your mortgage payment or a credit card you pay in full each month could make sense. For most people, living debt-free is a meaningful goal that represents a level of financial freedom. Student loans, car loans and credit card debt … Read more
FICO Score 8 is one of the many different versions of FICO credit scores. Since FICO Score 8 was launched, two newer versions of base scoresâFICO Scores 9 and 10âhave been released. However, FICO Score 8 remains one of the most widely used FICO credit scores. Learn more about FICO 8, including how itâs calculated, … Read more
When it comes to your finances, having an accurate credit report and credit score is extremely important. Your credit report and score are used by lenders, creditors, insurance companies, landlords and even potential employers to help determine your creditworthiness and risk level But with your credit information coming from multiple sources, it can be confusing … Read more
When you apply for credit, such as a new credit card or a home mortgage loan, the lender will request to review your credit report. This is what’s called a hard inquiry, or credit inquiry, and it can impact your credit. So how long does a hard credit inquiry stay on your credit report before … Read more