Credit history

Credit cards have been used in the United States since the early 1920’s, today they are used worldwide and are part of our everyday life. Credit cards allow people to carry around large amounts of money without actually having the bills on them, these cards allow us to quickly access our money and buy things we want and need. . The effect of credit cards on the economy is very complex, it has a positive and negative outcome. The financial stability of the economy depends on us as consumers,…

NACA or Neighborhood Assistance Corporation of America is a nonprofit housing services organization that helps low to moderate income families in America find and purchase homes that they would never have been able to afford with a conventional, FHA, or HUD loan. How does NACA do this, you ask? NACA insures homeowner success by providing one-on-one counseling sessions. A NACA mortgage consultant will be with you every step of the way, no matter how long it takes, for you to obtain a home. This…

greatly. They have to do with credit. Building up good credit and learning the steps to take to make it that way is vitally important for making purchases in life. Your credit score is a three-digit number based on a person’s credit report. Whatever your credit score is will be what lenders look at to decide how likely someone is to be a responsible borrower. An excellent credit score is 750+, good credit is 700-749, fair credit 650-699, poor credit 600-649, and bad credit is below 600. A great…

Maintaining good credit is equally important as establishing credit. With a good credit background, consumers have the ability to borrow funds at reasonably low interest rate without settling with lenders who place incredibly large interest on money. Learning how to establish and maintaining credit is a skill that everyone needs to take serious and perfect. To establish good credit, consumers should pay their bills on time, keep credit balances low and/or maintain the debt to income ratio, and…

A Bad Credit Score Does Not Have To Stop You From Getting A Loan Most lenders consider anything under 630 to be a bad credit score. However, that does not have to stop you from getting a loan. Many lenders do not care that your credit history is not flawless because they are willing to look at other factors. Even though online lenders are more flexible than banks, they will still look at your credit history and score. You should go to your local credit union if you are trying to get a personal…

have no much effect on your credit score but if neglected it will affect other loans. Proper management of your credit shows the discipline and responsibility an individual has in debts. Student loans are a beginners way to establish their credit history. It adds to the diversity of the types of credit that you carry. A collection of different types of loans ensures that the credit score increases provided it is paid on time Student loans are considered to be a good credit since it is an…

different kinds of fees, like transaction fee and security fee. (Laura Woods, 2015) Contrary to bank and credit cards, P2P provides lower interest rate. Thirdly is Flexible. Banks focus more on company’s’ credit history, if the business got a bad credit history, it is likely that bank will reject the loan requirement. However, the enterprise has another chance to explain their “dark history” with some good reasons. This chance increases the possibility that lenders are willing to lend money to…

Going to college is no simple task for the average young adult. The amount of preparation ahead- both physically and mentally- is a task that can prove daunting for even the most well-prepared of future students. Of course the biggest stressor is finances, which is something that will never go away because it comes with the territory of being an adult. Living without parents and paying rent with a job that takes up time, buying food to eat and figuring out a budget for those sorts of expenses;…

How Much Credit Score Needed To Qualify For a Home Loan Title description: Purchasing or refinancing a home becomes easier if you have a good credit score. Let us look at the ideal credit score needed for a home loan. The advantage of a respectable credit score A credit score is a measure of your financial credibility. Maintaining a good credit score is vital to getting a good home loan. It is good practice to review your credit score before applying for a home loan. Keep in mind that a good…

Indeed, if you are like most people, your own finances may have taken a hit in recent times. Your own credit history may be less than stellar. Even though you may not have a perfect credit, you may be in need of a new or used car. Therefore, you may be considering obtaining a bad credit car loan. There are some facts and factors that you need to understand and keep in mind when it comes to a poor credit car loan in this day and age. Through this article you will be provided with an overview of…