When considering their credit card score, people always ask me: What does a credit score consist of? In previous posts, I have discussed that the 22 criteria used to determine a credit score can be boiled into five categories:
Payment history
Amount owed
The length of time you have had credit
The type of credit you have
The number [...]
In my last blog, I revealed Rule #1 of divorce and credit scores: you must refinance your home if you are going through a divorce. In this blog, let’s talk about the rule surrounding joint accounts, such as credit cards.
Divorce and Credit Scores Rule #2: Separate any and all jointly held accounts, as well as [...]
Sheila learned about divorce and credit scores the hard way.
I met Sheila when she was applying for a home loan. She had a bad credit score because the mortgage on a home she bought with her ex years earlier was dangerously close to foreclosure.
Sheila explained that her ex, who kept the home, lost his job [...]
Today’s lesson is Part Two of my seven-part series on Why Your Credit Card Score Is Critical to Your Credit Score. In this lesson, we take a look at the role of retail credit cards in determining your credit score and credit card score.
In short, you should never open retail credit cards. These credit cards [...]
A “credit card score” is a letter grade that reflects whether your credit card habits are helping you build credit or causing you to have bad credit: An “A” credit card score is excellent; an “F” indicates that you likely have bad credit. The lower your credit card score, the more likely you have bad credit and need to make immediate changes to your credit card behavior.
How many credit cards do you have? How high is your balance? Do you pay your bills on time and in full? All of these factors are used to determine your credit card score.
Do you have good credit or bad credit? Take the quiz: What is my credit card score?
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