Credit Rating

By Stephanie Braun, Director of Auto Product Management at Esurance Companies have collected data on their customers for decades. It allows them to offer more tailored services and products, and provide more relevant messaging. The reason data collection has gotten so much press lately is because it’s reached unprecedented levels. Already, we create 2.5 quintillion
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Are you looking for a mortgage that features a low down payment but can’t find a suitable conventional loan because of various restrictions?The Federal Housing Administration (FHA) offers loan products with down payments of just 3.5% for borrowers with FICO credit scores as low as 580 – an attractive combination for potential homebuyers with lesser
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“Consumers for sale! Get your consumer information here! Plump ripe consumers, ready for the taking! Only $1,170 for a full consumer package! À la carte information for as little as a few dollars! Get them while they’re fresh.” Granted, there aren’t peddlers roaming around your local business district selling your stolen information – but the
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Small Changes, Big Impact Sometimes a seemingly small difference can have a large effect, like the straw that broke the proverbial camel’s back. According to a recent study by the credit bureau Experian, that same principle applies to millennials and their borrowing behaviors. With a small change in financial habits, more millennials could significantly shift
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Have you checked your credit report lately? If not, what’s keeping you from doing so? A recent survey by WalletHub found several reasons, ranging from complexity to fear. Your credit report is a history of all your loans and credit transactions as reported to the credit bureaus. The information in your credit report is used
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Are you planning to retire within the next 10 to 15 years?If so, are you ready to take retirement preparedness to the next level? Retirement is no longer an abstract concept when you reach your 50s. It’s important to take a closer look at your financial plans now, while you have time to make any
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Applying for credit for the first time is a bit like applying for your first job. People are hesitant to hire you because you don’t have any job experience, and you can’t get any job experience because nobody will hire you. In the case of credit applications, creditors are leery of extending credit if they
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Have you been denied a mortgage loan recently? Rejections usually don’t come down to a single reason, because lenders look at your overall financial status. However, some factors increase your risk of rejection. According to NerdWallet’s 2018 Home Buyer Report, three issues stand out as primary reasons for mortgage denials based on the most recent
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Just like assets can be sold, so can debts. It’s possible that your auto loan or mortgage could be sold by one lender to another. If your debt is in good standing, the terms and conditions of your agreement generally apply, but things relating to the servicing of your loan such as due dates and
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By Sandra Parsons While Cardi B is topping the charts, “Card Cracking” is ruining some music fans’ lives. Rapper Young Ash and five others were recently indicted for running a card cracking ring that recruited accomplices through her Snapchat channel. Learn how card cracking works and how you can avoid falling victim to
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You probably comparison-shop for most of your purchases, especially the high-dollar ones. If you’re going to spend money on a new appliance or an automobile, you want to review options to make sure you’re getting the best deal. According to the Consumer Financial Protection Bureau (CFPB), there’s a big exception to this rule – mortgages.
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When your credit score is down, it takes great effort to rebuild it. You have to take care to pay down your debts and get your finances in order. You may also have to change some of your spending habits to have the greatest impact. Consider these five spending habits that will retard your credit
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Another Day, Another Breach Have we reached the point where Americans react to data breaches with a yawn? Given the constant stream of new attacks and the staggering number of accounts involved, that’s an understandable reaction. The sportswear retailer Adidas recently joined the list of companies successfully attacked by hackers. The size of the
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How much does your credit score affect your mortgage rates? A recent study by Zillow shows that the higher interest rates from a poor credit score can have a profound impact on the amount of interest you’ll pay over the life of a mortgage. Zillow analyzed over 100,000 mortgage quotes offered on Zillow Mortgages across
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Congratulations! You made it through college armed with a degree, and hopefully a job. Now it’s time to move on to the next stage of your education: life. The tests are all open book, the deadlines are varied, and some lessons are much harder and carry higher stakes than others do. Worst of all –
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You’ve made some life decisions that you’ve regretted, and some of those decisions surely involve money. What sort of money mistakes have you made? Don’t be shy about admitting your financial mistakes. According to the latest version of Finder.com’s annual America’s Biggest Money Mistakes survey, you have 192 million fellow Americans to keep you company.
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Welcome to the 2018 home-buying market. Rising demand and an extremely tight supply of homes, especially in the critical starter-home market, make it difficult to realize your goal of home ownership. In this buyer’s market, you’ll need two important things to land your dream home – more money and a higher credit score. Data from
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We know the stereotype of the unmotivated millennial, living at home with their parents without any long-term plan or concern about their situation. Is that a fair representation? Do millennials disproportionately live with their parents? If so, is this from necessity, lack of motivation, or part of a grander strategy? It’s logical that younger generations
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President Trump promised changes in Washington upon his election. Whether you are a Trump fan or foe, there’s no question he’s succeeded in that goal. Sometimes the change is precipitated by the President’s choice to lead an agency, as in the case of the Consumer Financial Protection Bureau (CFPB). The CFPB was born out of
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Which is the worst first-date mistake – talking about an ex, eating food off your date’s plate, or mentioning that you are heavily in debt? We have no idea, but we’re guessing that a second date is unlikely in all those cases. A new survey from Finder.com suggests that in the case of excessive debt,
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