Category: Credit Score

In Today’s Brave New World Your Credit Rating Isn’t All That Is Being Monitored

Most people today have at least a vague idea about the importance of good credit. Your credit rating can affect many aspects of your life, including your eligibility for mortgages, personal loans, credit cards, mobile phone contracts, and car and home insurance. Prospective employers and landlords are also more likely than ever to check your credit rating before hiring you or renting to you, respectively. But in today’s world your credit history isn’t the only thing that is being vetted; your social media posts are increasingly up for grabs as well. We’re not trying to make you paranoid; we just want you to be aware. The perils of putting your… read more >>

Your Credit Report Can Be Your Best Friend or Your Worst Enemy

On an April 2016 episode of his HBO show Last Week Tonight, British expat John Oliver lambasted the three major US credit bureaus. He groused that the reports they issue can be rife with errors, which is particularly bothersome because these days credit scores are used for a wide variety of purposes beyond qualifying a person for a loan. In effect credit reports are often used to judge someone’s trustworthiness and overall character, the folly of which Oliver pointed out, citing a report from the Consumer Financial Protection Bureau which showed that more than half of all debt on credit reports in the country stemmed from medical bills. Here in… read more >>

Positive Credit Outcomes Play Out by the Numbers

UK borrowers interact with banks and other creditors, seeking various forms of financing. To initiate a loan, each applicant brings his or her credit references to the table, which serve as a lender’s basis for approving or declining a loan request. As such, it is imperative to protect and advance a good credit rating, giving lenders every possible reason to extend funding in your direction. Because most consumers only delve deeply into the lending process on occasion, securing a loan can be an intimidating process. Even would-be borrowers with a good bit of financial savvy are not always up to speed on prevailing lending procedures. What’s more, lending regulations and… read more >>

It’s Easier & More Important than Ever to Track Your Credit Rating

Not to belabour a point that we’ve made before on this blog, but if you are not keeping track of your credit rating you could be inadvertently cheating yourself and compromising your chances of achieving your financial goals. At worst you could be a victim of fraud and not even be aware of it until irreparable damage is done. You probably already know that a good credit rating will generally get you the best offers and/or terms and conditions on everything from a mortgage to an auto loan, from a credit card to a personal loan. But as has been said about liberty, eternal vigilance is the price of a… read more >>

Winning the Credit Game

Consumer credit is a perennially popular topic on finance and money forums, and we’ve addressed the subject on this blog a few times. But as we are well into a year in which many new policies affecting personal finance will be implemented, it’s a good idea to revisit this topic. The economy may be in recovery, but many consumers who were hit hard by the recession are still struggling because of poor credit. As well, many new graduates who are just getting out into the business world are wondering how they can build credit. People of all ages, from fresh graduates to people approaching retirement age, are learning the hard… read more >>