How is your credit score determined
There are two main credit scoring models that use information acquired by debt collectors to assign a numeric value to your credit risk. In discussions of credit scores, you might have come across the acronyms FICO and VantageScore. While both scores are almost the same, they were calculated in somewhat different ways and are collated […]
What are excellent, good, and fair credit scores?
Excellent Credit Score: In the range of 750 and 850, you’ll find “great” credit scores. People with outstanding credit histories often have at least $10,000 in available credit, no late payments, and no bankruptcies in their past 15 years. The likelihood of a loan default is reduced if the borrower has a high credit score. […]
The benefits and drawbacks of loan refinancing
It is vital to undertake a comprehensive examination of the benefits and the drawbacks connected with refinancing before making a final decision, this should be done as soon as possible. Keep reading to explore the potential advantages and disadvantages of loan financing. The following are some favorable aspects of applying for a loan refinancing : […]
Types of refinancing that affect your credit score
1. Mortgage Refinancing The process of mortgage refinancing can have the greatest effect on your credit standing and, consequently, your credit score. When looking for a mortgage rate, try to keep your credit inquiries within a 14-45 day window to avoid a high total number of hard inquiries. Additionally, you can coordinate with your creditors […]
How to Improve your Credit Score
A credit score depends on the credit history of an individual. The credit history includes; the number of accounts opened, payment pattern and history, any debt, and several other factors. Credit scores are used for the evaluation of the probability that an individual would be able to pay back loans in time. Lenders analyze the […]
What is the difference between a Credit Freeze and a Fraud Alert?
Credit Freeze A credit freeze can be placed on a credit report by anyone, even if their identity has not been stolen. What it does: A credit freeze prevents new credit accounts from being opened in your name or under your name while the freeze is in effect. If you need to apply for fresh […]
The One Blog You Didn’t Know You Needed… and Here’s Why You Actually Do!
Posted on October 12, 2022. Hello, there! And thank you for visiting our new blog! Here at Credit Masters USA, we believe in providing our customers with the best credit services. Why did we start blogging? The truth is that the extent of our business goes far beyond simply catering to our customer’s direct credit repair needs the moment they hire […]
Should You Add Your Rental History to Your Credit Report?
Posted on October 12, 2022. Your credit score is a crucial part of your overall financial health. A strong score makes it easier to access loans and additional credit at desirable terms. But to build strong credit you also need to use credit…and that can be tricky, especially when you’re first starting out. It can […]
