Fast Credit Solutions

Some credit cards charge a fee (typically between 1% and 3%) for every purchase someone makes in a foreign country or through a bank based abroad. If you’re shopping for a new credit card, you may want to consider which ones have foreign transaction fees and which ones don’t, especially if you travel abroad.

 

There are three national credit bureaus that collect information about you, and they obtain credit data independently. So while you might assume that your three credit reports and credit scores look exactly alike, they can actually differ significantly.

Credit scores are important indicators of your financial health. Lenders use credit scores as major tools to determine:

• Whether or not you are a good candidate for a loan.
• What type of interest rate you will pay.

While a credit score is a key determinant of your creditworthiness, lenders also examine the information on your credit report and your loan application. Regularly checking your credit report enables you to:

• Be informed of the most up-to-date information in your credit history.
• Correct any inaccuracies, thus ensuring that your credit data is a true depiction of your credit record and increasing your chances of receiving credit under the best possible terms.

The date that you opened your oldest account is too recent.
Your oldest account is still too recent. A credit file containing older accounts will have a positive impact on your credit score because it demonstrates that you are experienced managing credit.

What You Can Do
Don’t open more accounts than you actually need. Research shows that new accounts indicate greater risk. Your score will benefit as your accounts get older. Continue reading Negative Score Factors