How Credit Scores Affect Auto Loan Applications
How Credit Scores Affect Auto Loan Applications Auto Loans by John Ulzheimer Share Share Email Approximately 80% of those surveyed in a study conducted by VantageScore Solutions and the Consumer Federation of America underestimated the impact a low score has on an auto loan.That way too high considering how obvious it should be that credit […]
Why Doesn’t Paying Off An Installment Loan Improve my Credit Scores?
Why Doesn’t Paying Off An Installment Loan Improve my Credit Scores? Auto Loans by John Ulzheimer Share Share Email “I liquidated my IRA and paid off my truck but my credit score didn’t go up.” This is another scoring myth that may not make sense, but it is based upon statistical data – the myth […]
If my home loan is underwater, does that hurt my credit?
If my home loan is underwater, does that hurt my credit? Credit Report by John Ulzheimer Share Share Email Thankfully, this is pure myth. The short answer is – the value of your home does not impact your credit, but your payment history does. The mortgage information included on your credit report includes: the original […]
The Benefits and Drawbacks of Obtaining a Personal Loan
The Benefits and Drawbacks of Obtaining a Personal Loan Credit Report by Maria Shahid Share Share Email What is a personal loan exactly, and what is the benefit? A personal loan is one granted on the basis of your credit history and your income. If you’re 18 years of age, you simply need to have […]
Personal Line of Credit vs. Personal Loan: What Are the Key Differences?
Personal Line of Credit vs. Personal Loan: What Are the Key Differences? Credit Score by David B. Coulter Share Share Email Over the course of a lifetime, you probably will need to borrow money at least once. Whether it’s to buy a new car, send a kid to college or refurbish your home, you may […]
Can I Close On A Loan While My Credit Report is in Dispute?
Can I Close On A Loan While My Credit Report is in Dispute? Auto Loans by John Ulzheimer Share Share Email In what’s becoming a fairly common occurrence, consumers who have active credit report disputes are finding it hard to close on loans. Consumers have the right to challenge items on their credit reports with […]
What to Know About FHA Loan Qualifications
What to Know About FHA Loan Qualifications Money & Identity by Maria Shahid Share Share Email The Federal Housing Administration loan was borne out of the Great Depression, but it’s still a lifeline in the era of booming home ownership. Depending on your credit score, it may well be the best option available for buying […]
Should I Pay Off Student Loan Debt Early?
Should I Pay Off Student Loan Debt Early? Credit Report by John Ulzheimer Share Share Email Don’t get me wrong, not being in debt is infinitely better than being in debt. But, taking extraordinary steps to pay off certain debts early isn’t necessarily a good idea. So what does “early” mean in the context of […]
Will it hurt my credit if I’m denied for a loan or credit card?
Will it hurt my credit if I’m denied for a loan or credit card? Auto Loans by John Ulzheimer Share Share Email When you apply for credit, the potential creditor reviews your credit report and this act is recorded on your credit reports as an “inquiry.” This inquiry simply indicates that you’ve applied for credit […]
Can I Get An Auto Loan With Bad Credit?
Can I Get An Auto Loan With Bad Credit? Auto Loans by John Ulzheimer Share Share Email Periodically the Professional Risk Managers’ International Association (PRMIA) conducts a survey of bank risk professionals and lenders on behalf of FICO, the company that invented the credit score. A recent survey was conducted in June 2012 and received […]