With the recent news about data breaches and concerns that even the IRS can be vulnerable to identity thieves looking for information, it’s no surprise that many consumers are wondering how safe their own identities are. According to the U.S. Department of Justice, there are, on average, 12 million victims of identity fraud as of 2014. If you are concerned about how identity fraud could impact…
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Credit
What Affects Your Credit Score the Most?
You probably already know about the connection between your credit history and your credit report and how both impact your credit score. Remember that your credit score is like the grade on your credit report: companies use this number to rate your likelihood that you’ll repay your debts and pay your bills.But just what are the factors that go into calculating your credit score? And whic…
What is Installment Credit and How Can It Help Your Credit Score?
One of the biggest pieces of your credit history puzzle is installment credit. If you want to maximize your credit score, you need to make sure that you have an installment loan or two under your belt.
What is an Installment Loan?
There are two main types of loans: revolving and installment. With a revolving loan, you are given a limit, and you can keep borrowing as long as you mak…