The 5 Factors of a Credit Score Rebound

For those of us who have had enough credit experience to ruin a credit score, it is time to start undoing the damage. That is easier said than done, especially if you do not know how to go about it. Here are the major factors that affect your credit score and a few tips on […]

Watch out For Cross Collateralization!

Cross collateralization allows a bank or credit union to hold an asset as collateral for all debts owed to that bank or credit union. If you have credit cards and an auto loan through a lender, they can repossess the auto if you default on the credit cards and vice versa (and good luck getting […]

5 Credit Score Tips That Are Confusing

Understanding how to raise your credit score, then maintain it can be confusing for many people. Not just many people, most of the country. Just as people begin to understand their credit scores, more items are brought to light that cast even more smoke on the waters. Here are five credit score tips that just […]

How Repossession Will Wreck Your Credit

Repossession is a well known way to pull the carpet out from under your credit score. What you may not realize is exactly how bad it can be. Here are a few ways that a repossession will affect your credit and future loan options. Repossession and charge off will stay on your credit history for […]

Bad Credit vs Good Credit Auto Loans

How Bad Credit Auto Loans Stack Up Against Other Auto Loans A person with a good credit rating could not possible understand what someone with less than stellar credit has to go through just to get a small auto loan. Well, that was true until the financial crisis hit in 2008, when many credit scores […]

Free Credit Scores Are Coming To All

A new banking rule will be going into effect on  July 21, 2011. Under that rule anyone who is denied credit and that decision is based on a credit score that a banking institution would use, the consumer must be provided with the credit score used for the decision. That covers banks, credit unions, car […]

2011 Auto Loans On The Rise

New statistics from TransUnion, the credit reporting agency, are full of good news for both car lenders and buyers.  For lenders, the good news is that more than 90% of leases expiring in 2011 are held by drivers who have a credit score of 620 or higher, and more than 60% of them have credit […]

400 Credit Score Auto Loan: Possible?

The credit score spectrum ranges from a perfect score of 850 down to a basement score of 350.  Anything below 550 is considered Deep Subprime, or very bad credit, while a score of less than 620 is considered bad credit. Way up in the low 600’s is when consumers start having trouble getting approved for […]