Rachel's blog

    Why You Need Different Types of Credit – And What They Are

     

    Mix of credit
    Different types of credit
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    Your credit score is a blend of five factors. These include payment history, new credit, length of credit history, credit utilization, and credit mix. The largest single factor is payment history which makes up 35% of your credit score. The next biggest aspect ...

    UltraFICO Coming in 2019 to a Credit Report Near You

    announcing the new UltraFICO credit score
    A new credit score arrives next year with some fanfare
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    If you have been struggling with your credit score, there’s some great news for you. You may soon have a new option that’ll help you qualify for financial products or a loan you were hoping to land. UltraFICO is a trademarked name and score ...

    3 Things You Might Have Wrong About Your Credit Score

    Credit mistakes
    Don't make these three credit mistakes
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    Like it or not, credit scores matter. Your credit score determines whether you can get a mortgage at a reasonable interest rate or buy a car when you need (or want one). Your credit score also can open or close the door to ...

    How High Credit Card Balances Hurt Your Credit Score

    Credit card utilization
    What high credit utilization can do to your credit score
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    Your credit score is a three-digit numerical passport to opportunities and the things you may want in life. From a home to a car and even your dream job, like it or not, your credit score matters. Knowing the importance of your credit score ...

    6 Bad Habits That Hurt Your Credit Score

    Credit habits
    Watch out for bad credit habits
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    The better your credit score, the less you’ll pay for some expenses like auto and homeowners insurance. You’ll also save money with lower interest rates on loans and credit cards. Knowing how the bureaus calculate scores is critical so that you make smart money choices ...

    Average Credit Scores are Higher Than Ever – How’s Yours?

    Credit score increase
    Consumer credit scores are on the rise again!
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    There’s good news from FICO (Fair Isaac and Corporation), the leading credit score algorithm creator. The average American credit score is again rising. Since the financial crisis abated, median scores have been constantly climbing and have reached a new milestone. FICO reported that the ...

    Credit Freeze Now Free – Do You Need to Lock Down Your Report?

    Freeze your credit
    Why you should freeze your credit now that it's free
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    A new law just came into effect that allows you to freeze your credit bureau files for free. This is a significant change that can protect you from identity theft and fraud. Before the new law came online, it cost $3-12 to freeze your ...