A credit score can significantly affect your financial life. Itplays a key role in a lender’s decisionto offer you credit. Lenders are more likely to approve you for loans when you have a higher credit score and are more likely to decline your loan applications when you have lower scores....
A personal loan can affect yourcredit score in several ways—both good and bad. Taking out a personal loan isn't bad for your credit score in and of itself. However, it may affect your overall score in the short term and make it more difficult for you to obtain additional credit un...
This three-digit number will also determine the interest rate you’re offered when borrowing money, which impacts the total cost over the life of the loan. So before applying for financing, it’s important to check your credit score and see where you stand. What is a credit score? A ...
Government student loan eligibility is based mainly on factors such as financial need, although students older than 22 will need to go through a credit check. Private lenders will need to do a credit check and see your credit score when you apply for a private student line of credit or...
Most FICO® Credit Scores range from 300 to 850; the higher the score, the better.When you apply for credit, whether for credit cards, an auto loan, or even a home mortgage, one factor may come up again and again—your credit score. This three-digit figure can have a significant imp...
How to improve your credit score if you have bad credit Afraid you can't improve your credit score? Think again. This expert's credit score dropped to 547 during the last recession, but it's back in the 800s now. Once you understand how credit scores work and what options you have to...
Minimum credit score requirements for private student loans vary by lender. You generally need a good credit score — often defined as a FICO score 670 or greater — to qualify for a private loan. Student loans are the one corner of consumer finance where your credit score doesn’t always...
Let’s take a look at some common reasons why your credit score may have dropped. 1. You applied for one or multiple credit accounts Applying for any type of loan generally requires a credit check to determine if the borrower is a qualified candidate. So when you apply for a mortgage...
Shop around to find the best deal on an auto loan for your budget and credit score. If approved, an auto loan can help improve your credit — provided you keep up with the loan and make on-time payments. Getting approved for a car loan from a traditional lender with a low credit scor...
Finally, the last thing that you may want to think about to get a personal loan if you have a low credit score is to get someone with a good credit score toco-sign the loan. A co-signer agrees to pay the debt if you fail to do so yourself. This can get you a loan or interest...