Credit

Minimum Credit Score to Qualify for an FHA Loan

February 9, 2012

My sister recently signed a contract to buy a home. Given the market and interest rates, she got a great deal. And she’s financing the purchase with an FHA loan. So it seemed timely to talk about the minimum credit score you need to qualify for an FHA mortgage. As a quick review, an FHA [...]

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Cash or Credit – How Should You Pay?

January 18, 2012
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Photo: Rareclass Trying to figure out the best way to manage your money takes some careful thought. One money management question we face everyday is deceptively simple–should you pay with cash or credit. On the surface the choice between paying with cash or using a credit card seems straightforward. Many of us make this decision [...]

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Comparison of Layway Plans from 5 Major Retailers

December 13, 2011
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Photo: Irargerch Is layaway smart? According to Senator Charles Schumer (NY) layaway programs are deceptive and misleading. Senator Schumer is prepared to take on layaway programs with the same force that he used to take on the credit card companies. Schumer is the one who put the legislation in place that now requires credit card [...]

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Get A Totally Free Credit Score from Credit Sesame

November 15, 2011

It wasn’t until a few years ago that a consumer could obtain their credit score without entering their credit card information.  Most credit monitoring services would offer a “free trial”, ready to charge the day after the trial expires.  Now, anyone can obtain their  Experian credit score for free, without entering payment information by signing [...]

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Credit Reports vs. Credit Scores: Know the Difference

November 12, 2011
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Last week I helped a family member get a copy of their credit report and credit score. One thing they found confusing was just what the difference was between the two. Contrary to what many believe, a credit report and a credit score are not one and the same. While they are variations on your [...]

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How an Unpaid Traffic Ticket Can Wreck Your Credit Score

November 2, 2011

So you have an unpaid traffic ticket. That’s not the crime of the century. But based on an article I read this week in the Washington Post, it could have significant ramifications for your credit score. And yes, it could cost you $65,738 or more in extra interest payments. Here’s the deal. Ashley Halsey III [...]

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Triple Credit Report and Score from Privacy Guard for $1

October 31, 2011

Free credit reports are nothing new. But as we’ve have written before, while you can get your free report at AnnualCreditReport.com, it won’t come with your credit score.  A company called Privacy Guard, however, just launched a 30-day trial for $1 that allows users to check their triple credit report and score. So I decided [...]

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What Credit Score do You Need to Buy a Home?

October 14, 2011

When it comes to mortgages and credit scores, there are two really important questions to ask: What credit score do I need to qualify for a mortgage? What credit score do I need to get the lowest interest rate on a mortgage? These different but related questions are important if you are looking to buy [...]

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What is the Range of Credit Scores?

September 7, 2011

When I went to law school, the grading scale was bizarre. Unlike the normal 0 to 100 range, where say 90 to 100 was an A, the highest mark you could get was a 92. An ‘A’ ranged from an 86 to 92. A ‘B’ was an 80 to an 85. And this reminds me [...]

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