- Paying your bills on time improves your score
Keep paying bills on time every month since it is important to maintaining a good credit score. If you remain behind with any payments, bring them current as soon as possible, and then make future payments on time Continue reading Positive Score Factors
Checking your current credit score should be an easy task, free to everyone. Using loans and credit cards is our current lifestyle and creditors use our FICO score to determine whether to loan us money or not. Knowing your score before you apply for loans can reduce the stress of the unknown.
Below are credit providers who offer free scores to their clients: Continue reading Credit Cards Now Offer Free Credit Scores
Did you know your credit card may use 2 different APRs, a standard one and a higher, Penalty APR (also called Default APR)? If you are more than 60 days late on your monthly payment, the creditor may apply the higher Penalty APR to all your outstanding balances. So try your best to pay your bills on time!
Inquiries have a relatively small impact on your credit score.
The only inquiries that might affect your credit score are those initiated by you for specific credit transactions including mortgage, credit card, auto applications, and insurance.
Multiple inquiries that may occur when shopping for the best rates should not lower your credit score. Most of the methods used by the credit bureaus involve steps that make sure your score will not be negatively affected.