Credit Monitoring Tools

When it comes to monitoring your credit there are many options, many of which leave you less than impressed with their accuracy in comparison to a lender’s credit report. After signing up for more credit monitoring services than we care to count we have narrowed it down to a few options that most accurately depict your credit scores, and give …

Michael ClarkCredit Monitoring Tools

Those scores aren’t right!

We hear that often along with the question “Why are they so different than what the lender shows?” The simple answer is actually a question. What scoring model was used? Fair, Isaac and Company (FICO) is a publicly traded company that provides analytics and risk based scoring including credit scoring. This is a widely accepted scoring model and plays a …

Michael ClarkThose scores aren’t right!

Is All Credit Repair Created Equal?

If you’re here reading about building positive credit, chances are you have some negative credit as well. Through searching for information you have surely come across ads for different Credit Service Agencies that make various claims of helping you remove negative and inaccurate items. For a fee of course. You may have even talked to one or more of them, …

Michael ClarkIs All Credit Repair Created Equal?
credit cards VA loan

Having a Credit Card: Important or Not

In the self-focused society we have turned into, buy now pay later and instant gratification are promoted. Credit cards are a way of life for a lot of households, and it can cause a lot of financial woes. So much so that many consumers are shifting away and going to “cash” (Debit card usage is at an all time high), …

Michael ClarkHaving a Credit Card: Important or Not

CFPB Calls for Free Credit Scores

A huge step for consumers. The CFPB IS on the consumer side. Great job Richard Cordray, and thank you to Fred O. Williams for reporting. Read the full story here

Michael ClarkCFPB Calls for Free Credit Scores
build good credit after bankruptcy

How Do I Build Good Credit After a Bankruptcy?

Pardon me for a second while I write a nasty word… Bankruptcy. Now that the fowl language is out of the way, what can be done to recover. I don’t just mean our relationship from my bad language, I’m talking about your credit. Some consider it the end of your credit, but it doesn’t have to be. Apart from improving one’s …

Michael ClarkHow Do I Build Good Credit After a Bankruptcy?
credit new year resolution

Is Your Credit Your New Year’s Resolution?

With the New Year come new promises to ourselves and to each other. We love to call them resolutions. Just looking at the root of the word we are resolving to do or be something that we have not in the previous year or years. At the top of the list typically comes dieting, drinking, debt and credit. If you …

Michael ClarkIs Your Credit Your New Year’s Resolution?

How Does My Credit Affect My Job Search

Searching various job boards, reaching out to friends and previous co-workers, and going on numerous interviews are all part of the job seeking experience. What you may not know is most states allow employers to run credit checks as part of their pre-employment background screening. The financial woes coming from not having a job could be keeping you from getting …

Michael ClarkHow Does My Credit Affect My Job Search

How Does One Late Payment Affect Credit Scores?

Late repayments might be the scourge of your excellent credit score, or they could just be part of your overall credit mediocrity. Exactly how late your payments are, exactly how excellent your scores would be otherwise, and a host of various other factors all play into how much a late repayment (or several overdue repayments) will influence your credit scores. …

Michael ClarkHow Does One Late Payment Affect Credit Scores?
Holiday shopping credit mistakes

Top Credit Mistakes During the Holiday Season

As the holiday season approaches and retailers push to make 60+ percent of their annual revenue 4Q 2013 there are a few pitfalls to be aware of. G.I. Joe once said knowing is half the battle. The other half is making good decisions. 1. Know your limits. The optimal usage on revolving lines is no more than 30% of your …

Michael ClarkTop Credit Mistakes During the Holiday Season

Will Authorized User Access on a Credit Card Build My Credit Score?

As you may have noticed, most answers when it comes to building credit are multi-part answers and in a lot of cases based on what your goals are. You can research all day long and find varying answers to this question. In an attempt to give you the most accurate and up to date information let’s start with defining authorized …

Michael ClarkWill Authorized User Access on a Credit Card Build My Credit Score?
Student Loan Consolidation

Should I Consolidate My Student Loans?

There is a lot of buzz in the media recently about consolidating student loans. For some consumers making payments is not an issue. The issue lies in knowing who to pay as the servicer on the loan changes and knowing when a loan comes out of deferment to start paying. As always, we advocate paying your bills on time and …

Michael ClarkShould I Consolidate My Student Loans?

What Types of Credit Should I Use?

When building your credit wisely it is important to know what types of credit are available and how they can benefit you. Each account type can have a different weight on how it factors into your credit score. 1. Mortgage Accounts. A mortgage account is an installment loan with a fixed payment (typically). The length of the repayment term is …

Michael ClarkWhat Types of Credit Should I Use?
Credit card for Building Credit

How You Should Really Use Your Credit Cards

There is a common misconception about carrying a balance on your credit cards. Some people think you have to in order to show you can make payments, however that is not the case. The only thing carrying a balance does is accumulate interest and cost you money. It is always advised to pay your credit cards off each month, but …

Michael ClarkHow You Should Really Use Your Credit Cards
Passively building good credit

Passively Building Good Credit

Some people when asked about their positive credit lines will say, “I pay all of my bills on time. I’ve never been late on my electric, cell phone, cable, etc.” What most people do not realize is those bills do not report to your credit in most cases unless they are in collections. The number one key to having good …

Michael ClarkPassively Building Good Credit
How are credit scores calculated

How Are Credit Scores Calculated

Credit seems very easy to understand, however there are some minor adjustments that can be made to maximize your credit scores prior to a major purchase. Knowing how your credit scores are calculated is very important and allows you to make minor adjustments that can save you thousands of dollars in interest per year. There are 5 broad factors in …

Michael ClarkHow Are Credit Scores Calculated