Good credit can be the make-or-break detail that determines whether you get a mortgage, car loan or student loan. Bad credit, on the other hand, makes it difficult to get a credit card with a low interest rate and more expensive to borrow money for any purpose. Why is good credit ...
"This allows consumers who do not have a credit score to get a mortgage," Spencer said. "It's not for people with bad credit who have a lot of late payments. It's for people with little or no credit." Get a bank-issued secured credit card With a traditional credit card, the consu...
He was calling to wish me greetings, but then he said, ``You know, I read your columns all the time, and I think they're great. But I don't know about this latest one on credit cards, Bill. You know, there are times when it's good to have a credit card.''Donoghue, William...
“Credit scoring” of is a system creditors use to help determine whether to give you credit, and how much to charge you for it. When you apply for credit, the creditor or lender will often request your report (or credit score) from one of the big three bureaus (Equifax, Experian and ...
is likely to be good. This makes an individual agood riskif he/she wishes toborrowmoremoney. On the other hand, if one has a history of late payments and/ordefault, the individual is likely to be abad riskand may be deniedcredit. One'sFICO scoreis a measure of one's credit history...
Bad debt—credit cards, predatory loans, and any loan used for a depreciating asset—steers you away from your goals. With debt, moderation is key; even good debt, when overused, can turn bad. Bad debt—going into hock to pay for unimportant things—makes your goals harder to achieve. ...
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How we assess the best cards for good credit What to know about cards for good credit Having good credit typically means you’ll have an easier time qualifying for credit cards and loans than if you had fair, bad or no credit. Card issuers, banks, mortgage brokers and even leasing com...
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Good debts, like many mortgages and student loans, can help you reach important life goals and typically come with low interest rates. Bad debts, like credit cards and payday loans, carry higher interest rates and rarely help you work toward financial stability. ...