When to consider taking out a personal loan Key takeaways Personal loans can be both good for or detrimental to your credit score, depending on how they are handled. By adding to your credit mix, improving your credit utilization ratio and your payment history, you may see a boost to ...
Applying for a personal loan may be necessary for a variety of reasons—whether it's for an emergency or making a large purchase. You may be wondering how getting a personal loan could affect your credit score. Below we'll dive into the positive and negative impacts opening a personal loan...
Because these lenders will rely on your personal credit score when considering if you qualify for a small business loan, it’s essential to know how to calculate it. The credit scoring models will look at how late payments have been in the past, how much was owed, if you’ve ever missed...
Generally speaking, marriage alone doesn’t affect a credit score. Marriage is a legal arrangement in which couples choose to show their commitment, and it comes with the expectation that they will share things. However, couples are not required to share credit. Without taking specific action to...
There are various methods of debt consolidation, including taking out a personal loan, using a balance transfer credit card, or utilizing a debt consolidation program offered by credit counseling agencies. The specific method you choose will depend on factors such as your credit score, the amount ...
Being denied for a credit card doesn't hurt your credit score. But the hard inquiry from submitting an application can cause your score to decrease.
Switching to a balance transfer credit card could save you money in the long run and boost your credit score.
Breaking a lease can be a challenging situation, but taking responsibility and actively addressing the financial aspects can help mitigate the impact on your credit score. In the next section, we will explore how late rent payments can also affect your credit. ...
How does being a co-signer affect my credit score? Being a co-signer itself does not affect your credit score. Your score may, however, be negatively affected if the main account holder misses payments. Here are some common ways your credit score could be affected if you are a co...
taking out the loan in your name only. If you don’t, you probably won’t be able to borrow as much and will be borrowing at higher interest rates than if you applied with just your good credit. In this instance, two scores are not better than one—the lower score will drag you ...