What is a good credit score to buy a house? When you're trying to get a mortgage, a high number helps, but how low can you go? Daniel Bortz, provided by Published 10:00 am PST, Monday, February 11, 2019 Photo: SpiffyJ/Getty Images Photo: SpiffyJ/Getty Images Image 1 of / 1 Caption Close Image 1 of 1 Photo: SpiffyJ/Getty Images What Is a Good Credit Score to Buy a House? 1 / 1 Back to Gallery If you're hoping to buy a home, one number you'll want to get to know well is your credit score. Also called a credit rating or FICO score (named after the company that created it, the Fair Isaac Corporation), this three-digit number is a numerical representation of your credit report, which … [Read more...] about What Is a Good Credit Score to Buy a House?
Building good credit
Published 7:10 am PST, Tuesday, December 4, 2018 FILE- This Nov. 29, 2018, file photo shows credit card logos posted on a store's door in Philadelphia. Trying to get your first credit card can be as frustrating as trying to land your first job. Employers want experience, but you can’t get experience unless someone hires you. Similarly, a credit card is the quickest way to build a good credit history, but without a good credit history it’s hard to get a credit card. less FILE- This Nov. 29, 2018, file photo shows credit card logos posted on a store's door in Philadelphia. Trying to get your first credit card can be as frustrating as trying to land your first job. Employers want ... more Photo: Matt Rourke, AP Photo: Matt Rourke, AP Image 1 of / 1 Caption Close Image 1 of … [Read more...] about Millennial money: How to get credit when you have none
source Deserve Deserve is a new company that’s focused on helping young people build credit. It just raised $17 million from Sallie Mae, Accel, Pelion, Aspect Ventures, and Mission Holdings. For many college students, there’s a Catch-22 when it comes to their finances: They can’t get a credit card or student loan because they have no credit history. But they have no credit history because they can’t get a credit card or student loan – or at least, not a good one. This dilemma is all too familiar to Kalpesh Kapadia, CEO and founder of Silicon Valley-based startup Deserve – which today announces a $17 million round of funding led by lending mega-giant Sallie Mae, with participation from early Facebook investor Accel as well as Pelion, Aspect Ventures, and Mission Holdings. When Kapadia came to the US from India for college, he was turned down again and again when applying for credit cards and student loans. “I got … [Read more...] about Credit card startup Deserve raises $17 million to help young people build their credit in a system that makes it way too hard
Credit scores are needed to qualify for a car loan or mortgage. And the way you establish a credit history is by getting a credit card, right? That's a familiar personal finance myth that has led millions of Americans to get their first credit card -- and risk falling into high-interest debt, experts say. The average American in 2017 had two-bank issued credit cards and carried $5,551 in debt, according to the credit bureau Experian. Collectively, Americans have $1 trillion in credit card debt, more than any country in the world. Here are four ways consumers can create a credit history without falling into the credit card trap. Report monthly bills like rent and utilities Bills like rent and utilities traditionally aren't used to create a credit history – only loans are. But new companies and scoring models are springing up that include monthly bills like rent, said Robert Harrow, a credit card specialist with ValuePenguin. Those bills include rent, cell phone, internet, … [Read more...] about 4 ways to build good credit without using a credit card
It’s true — there’s no shortcut to achieving a good credit score. It takes years of paying your bills on time and in full, keeping balances low and managing different kinds of debt. But there are small steps you can take to help your credit, in the same time it takes to watch an episode of your favorite Netflix drama. Options for building your credit differ if you have an established credit history or if you’re new to credit. If you have established credit 1. Pay down debt One of the main factors in your credit score calculation is credit utilization, or how much of your credit limit you are using. If your credit cards are nearly maxed out, paying down the balances will lower your utilization and potentially help your score. Credit experts recommend keeping all balances below 30% of your credit limit — and lower is better. 2. Make an extra payment in a billing cycle If you cannot afford to pay your credit card balances in full once a month, making multiple … [Read more...] about 6 ways to build your credit in less than an hour