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New FHFA Credit Scoring Model Could Help More Homebuyers Qualify for a Mortgage

A decision that’s been eight years in the making, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac have approved the use of the FICO 10 T and VantageScore® 4.0 credit scores. After a multiyear transition period, lenders will be required to deliver these scores to Fannie Mae and Freddie Mac […]

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5 Ways to Build Your Credit Score in 2023

Lauren Schwahn writes for NerdWallet. Email: lschwahn@nerdwallet.com. Twitter: @lauren_schwahn. The article 5 Ways to Build Your Credit Score in 2023 originally appeared on NerdWallet. https://www.nerdwallet.com/article/finance/5-ways-to-build-your-credit-score-in-2023 #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

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States Where Financial Inclusion Has Improved the Most Since 2013

There’s no question that consumers are facing some tough economic headwinds: 40-year inflation highs, supply shortages of everything from sriracha sauce to used vehicles, and a stock market that lost more than 20% of its value during 2022. Amid all this uncertainty, however, now may be a good time to zoom out and observe how

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Average American FICO Credit Score by State – The Best & Worst

Find out the average credit score in your state, how (and why) it compares to neighboring states, and how your friends’ and neighbors’ FICO scores have changed over time. The post Average American FICO Credit Score by State – The Best & Worst appeared first on Money Crashers. https://www.moneycrashers.com/average-american-fico-credit-score-state/ #financialfreedom #money #entrepreneur #business #finance #investing

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Which Accounts Appear on Your Credit Report?

Your credit report can contain many types of credit accounts, including credit cards, auto loans, personal loans, student loans and mortgages. They can help or hurt your credit score depending on how you use the account and your overall credit profile. An additional type of account, collection accounts, can also be part of your credit

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6 Ways to Build Good Credit With Your First Credit Card

6 Ways to Build Good Credit With Your First Credit Card

Using a credit card effectively is one of the best ways to build your credit history and achieve a higher credit score. Done right, using your credit card isn’t just a way to conveniently pay for things you need, it’s also an avenue to increasing your creditworthiness and unlocking a range of other affordable borrowing

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How to Build Credit: Why You Need It and How to Get It

How to Build Credit: Why You Need It and How to Get It

Establishing and building credit in today’s world can be an essential component of setting yourself up for financial success. A good credit score can make it easier to rent an apartment, get a lower interest rate on a car or house loan, be approved for a credit card or loan, and, in some cases, even

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Should You Pay for a Credit Repair Service?

Should You Pay for a Credit Repair Service?

A bad credit score hurts you in many ways. Credit repair companies offer to help you fix your score for a fee. But are they worth it? We take a closer look. The post Should You Pay for a Credit Repair Service? appeared first on Money Crashers. https://www.moneycrashers.com/pay-credit-repair-service/ #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy

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How Does Default Impact Your Credit?

How Does Default Impact Your Credit?

Defaulting on a loan or other credit obligation places a severe negative entry in your credit reports. In most cases, it also signals additional credit damage and financial challenges to come. Default typically occurs if you go 90 days without making a scheduled debt payment. Depending on the type of loan, defaulting typically triggers a

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How a Good Credit Mix Can Improve Your Score

How a Good Credit Mix Can Improve Your Score

Credit mix receives little attention in the grand scheme of credit score discussions. But for many borrowers, it’s still integral to improving overall creditworthiness. Are you one of them? The post How a Good Credit Mix Can Improve Your Score appeared first on Money Crashers. https://www.moneycrashers.com/good-credit-mix-improve-score/ #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment

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How to Get Medical Debt Off Your Credit Report in 5 Steps

How to Get Medical Debt Off Your Credit Report in 5 Steps

An unexpected illness or injury can quickly lead to mounting medical costs. Without an emergency fund, it’s easy to fall into medical debt, hurting your budget and credit score. Fortunately, there are several ways to get medical debt off your credit report. Find out which is best for you. The post How to Get Medical

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Do Rising Interest Rates Affect Your Credit Score?

Do Rising Interest Rates Affect Your Credit Score?

The interest rates you pay on loans and credit cards do not factor into credit score calculations in any way. But the current climate of rising interest rates can affect your credit scores in several indirect ways. Here’s what you should understand about interest rate hikes and your credit. How Can Rising Interest Rates Affect

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Can You Have a Credit Score Without a Credit Card?

Can You Have a Credit Score Without a Credit Card?

You can have a credit score—even a good or excellent one—without a credit card. Any credit product that is reported to the credit bureaus in your name can help put you on the credit radar. Read on to find out how you can begin your credit journey without applying for a credit card. How to

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Is it Bad to Have No Credit Score?

Is it Bad to Have No Credit Score?

Not having a credit score isn’t necessarily bad, but it’s not ideal. It can prevent you from qualifying for loans, credit cards and housing and complicate your ability to rent cars and get cellphone and cable subscriptions. Establishing credit as early as possible is a good way to set yourself up for the future. What

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How Long Do Late Payments Stay on a Credit Report?

How Long Do Late Payments Stay on a Credit Report?

Dear Experian, How long does a negative payment status of “Paid, Past Due 30 days” remain on my credit report? The item in question occurred in March 2019. I would really like to get this one potentially negative item off of my credit report. – DHB Dear DHB, Late payments remain on a credit report

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Oh Hey, It’s (Online) Bill Pay: A Q&A

Oh Hey, It’s (Online) Bill Pay: A Q&A

You probably already know that paying your bills on time is important for sticking to your budget and maintaining a good credit score. If you don’t have a budget yet, this article can help you make one. But it can be tough to remember every expense and every due date.  That’s why Stash offers Bill

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The Best Personal Loans for Bad Credit of 2022

If you have bad credit, you won’t qualify for the best rates and terms on a personal loan, but you’re not entirely out of options. Many personal loan providers cater to people with bad credit — and the deal is often better than you’d expect. Learn about the best personal loans for bad credit. The

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Credit Bureau Phone Numbers Put You in Touch With Help

The three major credit bureaus in the U.S. are Experian, Equifax and TransUnion. There are plenty of reasons why you might need to contact one of them, including disputing an item on your credit report, freezing your credit, or reporting fraud or identity theft. While the major credit bureau websites offer the ability to do…

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How to Raise Your Credit Score: Credit Building Tips

How to Raise Your Credit Score: Credit Building Tips

How to Raise Your Credit Score: Credit Building Tips It’s a question that many people have on their minds as they begin to seriously consider their finances: how do I raise my credit score, or how do I fix my credit? Though credit scores may seem shrouded in mystery – how they’re calculated, which ones

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