Square one – What is a Credit Score? The majority of people understand the basics, like how failing to make a payment will cause your score to go down, but there are a number of complexities that trip up the average consumer. If you pay your debts on time, donât carry too much debt on […]
The post Breaking down your Credit Score – A Quick & Easy Guide appeared first on Credit Absolute.
There are a lot of reasons someone might need an injection of cash and seek out a loan from a bank: For emergencies, home repairs, to pay off credit card debt with a lower interest rate loan. One consideration when taking out a personal loan is whether it is secured or unsecured. A secured loan […]
The post Using Collateral on a Personal Loan appeared first on SoFi.
If youâre like the 40% of credit card holders the American Bankers Association refers to as ârevolvers,â you probably carry at least some debt from month to month. And if youâre a typical American, according to Experian, you have an average balance of $5,897 , with an additional $2,044 on a couple of retail credit […]
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Although you have to pay back any money you owe, not all debt is created equal. Thereâs installment debt, like an auto loan, mortgage, or student loan, which is paid off in installments. Then thereâs revolving debt, which applies to things like credit cards and home equity lines of credit. Non-revolving and revolving debt affect […]
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As housing prices continue to rise homeowners are looking into how they can leverage their homeâs equity to receive low-interest financing. A home equity line of credit, or HELOC, is a great way to gain access to a line of credit based on a percentage of your homeâs value, less the amount you still own […]
The post What is a Home Equity Line of Credit? appeared first on Credit Absolute.
As a young person just out of college, you might be wondering, how do student loans affect your credit? Well, the impact of these loans can either be positive or negative. It all depends on how you manage the loanâs repayment. While in college, the loans may quite helpful, but after graduating, everything changes. Missed […]
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When you think of your credit score, you may not consider how this number is calculated or how your actions play a role. Simply put, every credit score is made up of certain criteria, and each criteria can cause an increase or decrease in credit score. With credit utilization being one of the things that […]
The post Ways to Successfully Manage Your Credit Utilization Rate appeared first on Credit Absolute.