One late payment can kill your credit score. Therefore, it is very important for you to be diligent and pay all your bills one time. The higher your credit score, the easier it is to access credit (borrow money). In addition, you get to borrow money at a lower rate. FICO gave a small peek […]
How One Late Payment Can Kill Your Credit Score Read More »
Credit card approval standards are going higher. One reader with a 805 credit score e-mailed me saying he recently got denied for the Barclays Arrival World MasterCard. As part of the FICO Open Score Access initiative, he got his credit score in the mail plus the nice rejection letter. The reason for the rejection was
Credit Card Approval Standards On The Rise: Excellent Credit Scores Still Get Denied Read More »
Updated for 2018 As an investor in P2P lending, I’m doing as much due diligence as possible to make sure I have the right portfolio that matches my risk profile. I’m at the lower end of the risk spectrum because I’m using P2P among other investments to replace my CDs which are coming due over
P2P Investor Returns By Borrower Rating And By Credit Score Read More »
I’ve made the argument a good credit score doesn’t matter much anymore. So if you have a bad credit score, all isn’t lost. The post gave examples of renting an apartment, finding a job, buying a car, and getting into school where the credit score didn’t help or hurt at all. Even SoFi, one of the largest emerging student lenders
How A Bad Credit Score Ruined A Person’s Career Read More »
When I got rejected from my mortgage refinance in early 2015 I was pissed. I was in the third month of waiting before I got the bad news. I had locked in an outstanding 2.25% 5/1 Jumbo ARM rate that could have saved me $400 a month for the next five years. Having an 800+ Experian
Should The FICO Score Be Eliminated? SoFi Creates A FICO-Free Loan Application Read More »
You’d think that after reaching an 800+ credit score, life would be all donuts and free coffee right? Well, I’ve got to admit, nobody taught me a secret handshake, or gave me a coupon for a free deep-tissue massage. Instead, life just went on like usual. The reality is, there are over 60 different types of credit scores!
Understanding The Different Types Of Credit Scores – There’s Over 60! Read More »
I am a big fan of everybody checking their credit scores at least twice a year regardless of their borrowing needs. The world is a sinister place where greedy corporates go to no ends to crush you for being late on any payments you’ve made, no matter how small. There are also an endless amount
Who Should Check Their Credit Scores And How Often? Read More »
A couple mortgage refinances ago, I almost screwed myself because I had an $8 judgment against me from my local utility company that crushed my credit score by ~100 points. I thought I had an excellent credit score of 780, and I did, when I first started my 100 day refinance hell. But when my refinance bank
Does A Good Credit Score Really Matter Anymore? Read More »
I’ve only got two credit cards: one for personal use, and one for business use. I like concentrating all my spending on one card so I can get maximum points to buy things like a home theater system, nights at the Halekulani Hotel, gasoline cards, and tennis racket grips! Credit card reward points have value
Determining The Value Of Your Credit Card Rewards Points Read More »
In “How To Improve Your Credit Score to 800+” I shared with you five steps to take in order to enter the exclusive 800 Credit Score Club filled with beautiful people, gummy bears, and free massages. It’s good enough to get the most amount of credit at the cheapest rate, but to be elevated to
What Doesn’t Affect Your Credit Score? Dispelling Common Misconceptions Read More »
