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Credit 101: Why Your Credit Score Matters & How to Improve It

Credit 101 - Why Your Credit Score Matters and How to Improve It

Remember that college course you had to take about managing your credit? No? Don’t worry, you didn’t miss it.

And you probably never attended a seminar on one of the most important and frequently misunderstood areas of finance, either — your credit.

So it’s no surprise that some people struggle with understanding and managing their developing credit histories. In fact, a recent LendEDU survey found that only 25% of millennials could correctly define what a credit score is, and only 17% knew one of the best ways to improve their score.

Today, it’s time to set the record straight.

Here’s the scoop on what really makes a difference when it comes to your credit and the low-down on how you can take control of your financial destiny with a few easy strategies.

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5 Habits of People with Excellent Credit

5 Habits of People with Excellent Credit

You know a strong credit score is invaluable to your financial life. Want to secure the best mortgage rate? Nab that charming apartment? Pay less for your insurance premiums? Your FICO score, the most popular score used by lenders, makes it happen.

Ranging from 300 to a perfect 850, your FICO score determines what credit is available to you and at what rate. According to NerdWallet, once you hit 760, you’ll usually be offered the very best rates.

But some people can’t resist the challenge of achieving a FICO score in the 800s. If you want to know how to gain -– and maintain –- a top-notch score, you can learn from these five habits of card-carrying members of the 800 club.  [Read more…]

How to Build Your Credit History From Scratch

How to Build Your Credit History from Scratch

Being an all-cash person isn’t necessarily a bad thing, but it probably means you’ve got little or no credit history to speak of — which can come back to bite you when you finally do need to apply for a loan or line of credit.

But starting on the right foot when it comes to building credit isn’t as hard as you might think. In fact, you can by tackling a few basic steps.  [Read more…]

3 Money Rules It’s Time to Break

3 Money Rues I'ts Time to Break

Where did you get your financial education?

Was it from your parents? Your grandparents? Your teachers?

Sometimes, advice that used to be good — or even just well-meaning — no longer applies to modern times. And that’s true for money-related advice as well.

In fact, here are 3 money rules that you may not have questioned in the past . . . but it’s time to break them now!  [Read more…]

5 Unexpected Ways Your Credit Score Impacts Your Life

5 Unexpected Ways Your Credit Score Impacts Your Life

Think having poor credit is only a problem if you need a loan? Think again.

You know that bad credit can often translate to high interest rates, unfavorable payment terms, and few options when you’re looking to get a loan or apply for a credit card. But, your credit score can also affect so much more than that.

Here are five surprising ways that your credit score may be influencing your everyday life . . .  [Read more…]