May 21, 2020Shawn LaneConsumer Credit Expert If you take an informal survey of people struggling to manage their finances as adults, they’ll probably have one thing in common. Disregarding any socioeconomic factors, there’s a good chance they had very little personal finance education as children.It’s not surprising that 36% of college students have managed to rack up some amount of credit …
What is a Credit Builder Loan?
April 7, 2020Shawn LaneConsumer Credit Expert Starting from the bottom is always hard. With no upward momentum, just getting started can feel like a monumental task.That holds especially true for your finances. Money tends to make more money, and good credit lends itself to even better credit. All the best loan products – credit cards, mortgages and personal loans, for example …
3 Ways You’re Accidentally Sabotaging Your Credit Score
February 11, 2020Shawn LaneConsumer Credit Expert Good credit is a lifelong journey. It’s not something you can work to earn and then forget about once you reach your goal. Just like you need to constantly take care of your health by eating right and exercising, your credit requires constant attention. Learning good credit habits is a great place to start. …
Does Paying a Collection Help Your Credit Score?
September 10, 2019Shawn LaneConsumer Credit ExpertCredit has a huge influence over your day to day life. When your credit is in good shape, it can save you money on everything from your mortgage payment to your auto insurance premiums. On the other hand, bad credit can cost you money and may make it hard to qualify for loans, insurance policies, and …
How Good Credit Can Save You Money on Insurance Premiums
July 9, 2019 Shawn Lane Consumer Credit Expert The benefits of good credit are seemingly endless. There’s the obvious — good credit can help you to qualify for loans, credit cards, and other types of financing. Solid credit can also help you pay lower interest rates when you’re approved. But low rates and high approval odds are only the tip …
What Makes Up Your Credit Scores? Part 5: New Credit
June 4, 2019 Shawn Lane Consumer Credit Expert When you apply for a new loan or credit card, you give the lender permission to check your credit report. This credit report access is known as an inquiry. What you might be surprised to learn is that inquiries have the potential to hurt your credit scores. Keep reading for a breakdown of …
What Makes Up Your Credit Scores? Part 3: Length of Credit History
March 7, 2019 Shawn Lane Consumer Credit Expert You know your credit scores are important. They can make or break your applications for loans and credit cards. When you’re approved for financing, your scores can impact how much you’ll pay and the terms you are offered. Of course, you can know that your credit scores matter without understanding how they …
What Makes Up Your Credit Scores? Part 2: Amounts Owed
February 21, 2019 Shawn Lane Consumer Credit Expert Many people think that paying your financial obligations on time is all it takes to earn great credit scores. The truth, however, is that credit scoring is more complicated than that. Believe it or not, the majority of the points in your credit scores don’t have anything to do with how …
What Makes Up Your Credit Scores? Part 1: Payment History
February 7, 2019 Shawn Lane Consumer Credit Expert Your credit scores are an important component of your financial wellbeing. Without solid credit scores, life can be a lot more difficult (not to mention more expensive) than it needs to be. The good news is that if you learn what influences your credit scores, you’ll be better equipped to improve them. …
Credit Repair: Hire a Pro or Do-It-Yourself?
December 6, 2018 Shawn Lane Consumer Credit Expert Recovering from credit problems is often a long, uphill battle. There are certainly steps you can take to potentially speed up the process, but it’s important to begin any credit repair journey with the proper expectations. Your credit problems most likely didn’t happen overnight. It’s probably going to take some time to …