New data shows that 22% of Americans – almost one quarter of the population – have never checked their credit report, even though they’re entitled to an annual free copy of it. According to the Federal Trade Commission, nearly 20% of credit reports contain errors, so the fact that so many people neglect to check their reports is troubles many personal finance experts, who typically recommend checking one’s credit report at least once per year.
If you’re a college student, you probably have a few numbers on your mind: the number of days until you head to campus, your GPA from last semester, the amount of money you’ll have to spend on furnishing your dorm room this year, etc. But what about your credit score? It could be one of the most important numbers in your life that’s not on your list. Your credit score can impact whether or not you can lease an apartment or whether or not you’re offered your dream job.
When it comes to buying a car and shopping for a car loan, you have a lot of options. But the cost of those options depends on one critical piece of information: your credit score. Your credit score could be standing in the way between you and an affordable auto loan, and it may even determine whether you can take out a loan at all.
Credit card comparison sites offer a myriad of different card offers, and often allow users to search and sort cards according to their own personal needs. Some people have wondered about the accuracy and motives of these sites, so it’s important to take a look at them in depth before making any credit card decisions.
We invite you to read this compiled list of helpful resources you might not be taking full advantage of to help you overcome financial obstacles on the path to attending college.
Here are a few tips for those just entering the world of credit and credit scores.
Are you struggling with credit debt? If so, maybe it’s time to get rid of the cards and the temptation to spend.
If you focus on getting the absolute lowest rate and/or closing costs, you could end up spending a lot more time and money on your loan in the long run.
Depending on how you pay your cell phone bill, you could either be hurting or harming your credit (or not affecting it at all).
The next time you withdraw or deposit money from an ATM, be aware that saboteurs may have installed information-stealing devices known as skimmers.