Credit scores can be confusing. Our Credit.com experts are committed to demystifying credit for you. Get easy-to-understand explanations of what factors influence your credit scores and tips on how to improve them by setting up your free Credit.com account today. Discover how certain financial decisions & actions can affect your credit score. Learn how to read & interpret your credit score & find out how banks & financial institutions use your credit information to make lending decisions.
Medical bills can be painful, and even more so when they hurt your credit. The damage can be significant. Doctors or hospitals don’t usually report medical debt to credit reporting agencies. Instead, they turn unpaid debts over to a debt collector, and it is the collection agency that reports them. In fact, according to the […] Read More
A good credit score is what each of us aspires to. After all, a credit score is one of the important determining factors when it comes to borrowing money – and getting a low rate when you do. But trying to pin down a specific number that means your credit score is “good” can be […] Read More
The last time I got up in front of a group to talk about my job, no one had questions for me. It was a high school career day a few weeks ago, and the students stared at me blankly as I dropped words like “personal finance,” “credit scores” and “debt.” I could tell they […] Read More
Have you worked hard to improve your poor credit, but not sure what you now qualify for with your new “fair credit” status? As someone with fair credit, your credit score lands you between poor and good credit. While you have not reached good credit score status, you have improved your credit score enough not […] Read More
Most people have a gut feeling about their credit – it’s either great, good or bad. But what is a bad credit score really? First, it’s important to understand that there are many different credit scoring models out there and each may use a different scale – or numbers – to convey information. For example, […] Read More
Anatomy of a VantageScore Credit Score VantageScore first exploded on the credit score scene in 2006 as a joint venture of the big three credit bureaus – Experian, Equifax and TransUnion – and now has the distinction of being one of only two scoring models, the other being FICO, to be relied upon by lenders […] Read More
Looking for an easy way to boost your credit score? Generally, building good credit takes time and good habits. However, there are some steps you can take that can be very beneficial to your credit score. Let’s take a look at a couple of them: Pay Off Debt The amount you owe accounts for 30% […] Read More
The best way to improve a credit score is by making on-time payments. Payment history accounts for 35% of a credit score, but there is no need to dig yourself into debt to improve your credit score. Qualifying for a low-limit credit card is all you need. Make a few small charges each month and […] Read More
If you are one of the unlucky taxpayers who have received a 1099-C form reporting “cancelled debt income,” you may wonder whether a 1099-C would affect your credit scores. The answer is “no” — and “yes.” A 1099-C is a tax form that the IRS requires lenders to use to report “cancellation of indebtedness income.” […] Read More
Whether you are already have a good credit score, or hope to get there in the future, you have probably wondered at some point, “What is the best credit score?” or, “What is the highest credit score possible?” Some people ask that question because they want to get their credit score and they are looking […] Read More
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