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Can Holiday Spending Hurt Your Credit Score?

January 6, 2022 Shawn Lane Consumer Credit Expert   The holidays are not a time to pinch pennies. There’s nothing wrong with loosening the purse strings, giving generously, and using this time to focus on friends and family instead of money. But you at least want to make it through to the end of the year with your finances intact, …

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How Holiday Shopping Can Affect Your Credit

December 23, 2020Shawn LaneConsumer Credit Expert As the 2020 Christmas shopping season begins in earnest, consumers are likely concerned about how holiday spending will affect their finances. This year has seen more economic turmoil than any year since the Great Recession of 2008 – particularly affecting those in lower income brackets – so it’s understandable if the average shopper has …

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Best Alternative to Payday Loans

June 11, 2020Shawn LaneConsumer Credit Expert Payday loans get a lot of flack – and rightfully so. They have outrageous interest rates and often use predatory practices to lure in financially vulnerable borrowers.  But if you think avoiding payday loans is easy, you’ve probably never been in a situation where you need money immediately. When you live paycheck to paycheck, …

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How to Shop for a Mortgage Without Hurting Your Credit

January 7, 2020Shawn LaneConsumer Credit Expert How to Shop for a Mortgage Without Hurting Your CreditWhether you’re buying a new home or refinancing an existing mortgage, shopping around for a good interest rate might save you money. At the very least, rate shopping can help you confirm you’re getting a good deal. But there’s an art to shopping for a mortgage …

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Do Medical Bills Damage Credit Scores?

November 12, 2019Shawn LaneConsumer Credit Expert Lenders use credit scores to help predict risk. Credit scores are designed to calculate the odds that you’ll become 90 days late (or more) on any credit obligation within the next 24 months. The more likely it is that you might pay something 90 days late within that time frame, the lower your scores …

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How to Add Positive Information to Your Credit Reports

October 8, 2019Shawn LaneConsumer Credit Expert It’s important to make sure the information on your three credit reports is accurate. Errors and mistakes on your credit reports can potentially hurt your credit scores and make it difficult or even impossible to qualify for new financing when you need it. But what if positive information is missing from your credit reports? Is …

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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 …

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Free Credit Freezes: Do You Need Them?

October 18, 2018 Shawn Lane Consumer Credit Expert There is no surefire way to keep your personal information safe and protected. The Equifax Data Breach of 2017 alone exposed the sensitive, personal information of some 143 million consumers in the US. The Under Armour data breach, which occurred in the spring of 2018, exposed another 150 million consumer records as …

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How to Rebuild Your Credit After a Bankruptcy

July 11, 2018 Shawn Lane Consumer Credit Expert Bankruptcy has its pros and cons. Chances are that you considered the facts, weighed your options, and did not choose to file bankruptcy lightly. Although bankruptcy can certainly hurt your credit, filing for bankruptcy does not mean that you have to be stuck with horrible credit forever. There are steps that you …